Effect of Minimum Wage on Demand and Supply - 2038 Words

---------------------------------------------------------------------------------------------------------------- In order to safeguard specific workers in low-paid, susceptible employments the minimum wage policy had been implemented by the South African government to provide assurance to these workers of a basic subsistence income. In hindsight the government saw the wage ‘floor’ as a tool to efficiently support the working poor and eradicate their poverty while facilitating the rearrangement of income in an uneven society. In light of the recent strikes brought forward by the farmworkers in the Western Cape that ultimately form part of the agricultural sector, Agricultural Minister Mildred Olifant has implemented a minimum wage policy†¦show more content†¦Figure 2 illustrates the effect of the decrease in demand of labour due to the increase in the minimum wage, and accordingly how’s how supply increases in order to reach equilibrium at this point. The law of demand states that an increase in price results in a decrease; the law of supply states that a increase i n price results in an increase in supply. These laws directly relate to what would happen in the agricultural industry with regards to employment and labour when the minimum wage increases, in the short run and ultimately the long run. Wage Rate Wage Rate Supply After Supply After Supply Before Supply Before Equilibrium Wage After Equilibrium Wage After Equilibrium Wage Before Equilibrium Wage Before Demand Demand Quantity of Labour Quantity of Labour Figure 2 : Demand and Supply of Labour in the short run Farmers will eventually suffer in the short and long run regarding the total revenue that they receive and experience lower profits. Dire consequences could arise as some farmers will have no work force and large amounts of land consequently forcing them to abandon fertile land and go elsewhere; while some small scale farms suffer immensely and required to shut down. Primarily in the short run farmers would make structural adaptations and include mechanisation and consolidation to become efficient and cost effective. With technology not being readily available andShow MoreRelatedDemand Supply , Examine the Argument in Favour Against Minimum Wage Law in Uk1415 Words   |  6 PagesAdministration Assignment: A * (Using Demand Supply: examine the arguments in favour against minimum wage law in UK*) * *Total words: 1,402 Demand It refers to the willingness and ability of buyers to purchase goods and services at different prices. Supply It refers to the willingness and ability of sellers to provide goods and services for sale at different prices What* *is minimum wage? A minimum wage is the lowest monthly, daily or hourly thatRead MoreThe Minimum Wage Law Should Not Exist1684 Words   |  7 PagesThe minimum wage law was first enacted in January 1938 (Mutari, Ellen), and since then, people have falsely been led to believe that it is beneficial to the economy as well as the general population. It has commonly been seen as a method to reduce poverty by redistributing income in order to make sure that people earn a healthy, living wage; however, evidence has shown that it in fact does just the opposite. Forcing a minimum wage goes against the free market, and severely disrupts the natural processRead MoreImpacts Of A Minimum Wage Hike900 Words   |  4 Pagesto a Minimum Wage Hike in America There has been much controversy over the years on the impacts resulting from an imposed minimum wage and how it relates to the economy. It wasn’t until President Franklin D. Roosevelt signed a Bill enacting the Fair Labor Standards Act of 1938 that American’s gained the right to a minimum threshold by which their labor could be sold. Against much opposition President Roosevelt was for a law that banned oppressive child labor and set the minimum hourly wage at .25Read MoreMinimum Wage At The United States1129 Words   |  5 Pagesintended to raise the current minimum wage floor of $7.25 in the United States stalled in Congress. As the November election approaches, many Democratic senate members are placing the issue of minimum wage at the forefront of their election campaigns, hoping to sway working-class voters in their favor. The issue of minimum wage has become a matter of politics, politics which far overshadow the far more pertinent concern of minimum wageâ€℠¢s economic effects. Minimum wage is a complex issue, and understandingRead MoreArguments for and Against the Minimum Wage in the Uk1137 Words   |  5 PagesArguments for and against the National Minimum Wage (NMW) in the UK: stop employees being taken advantage of by being paid unfair wages by their employers. set a standard of the minimum worth of a worker. This benchmark was set so that employers would be unable to hire any staff for less than the suggested hourly rate. reduce pay differentials between genders. What is the new minimum wage?: In October 2009, the NMW for workers increased from:  £5.73 to  £5Read MoreThe Negative Effects Of The Minimum Wage1282 Words   |  6 PagesMinimum Wage Should the government raise minimum wage? Should the government lower or keep the current minimum wage? Minimum wage is a very controversial topic when it is discussed between all parties. For those arguing for minimum wage increase believe that it will bring people living below the poverty line above it. Former President Obama stated, â€Å" no one working forty hours deserves to be living in poverty.† For those arguing against the raise on minimum wage believe that it has more negativeRead MoreLink between Higher Minimum Wage and Higher Unemployment1179 Words   |  5 PagesIn theory when an increase in minimum wage increases the cost of low-wage workers firms should want to hire less workers, however in reality this basic theory might be wrong according to Plumer B. (2013) While some studies found a link between higher minimum wage and higher unemployment level many others such as a recent paper from U.C. Berkeley that exploited differences across state borders did no t find a link between higher minimum wage and higher unemployment. A study by John Schmitt of theRead MoreMinimum Wage Essay1068 Words   |  5 PagesBisht;Ashish; 0822881 Minimum wage bill defeated in Parliament Introduction: The demand to raise New Zealand’s minimum wage has decline. We live in a society where government has to make balance between employers and employees. Workers want better paying job and at the same time employers want to control labour cost. Therefor government put the floor of minimum wage â€Å"a minimum wage is the lowest wage that each employee can legally get from an employer† (exclusive papers). This is the lowestRead MoreThe Price Of Minimum Wage1406 Words   |  6 Pagesanalyse and draw conclusions on minimum wage in relation to its standing in business law, we first of all need to define what the meaning of the term is. National minimum wage was introduced in 1998 through the national minimum wage act. This enforced that employers would pay each employee a set value set by the government per working hour. One of the main benefits of this was that the most low skills jobs within society received a fair wage. Setting the price of minimum wage is a complex task a s the mainRead MoreMacroeconomics Price Ceilings/Price Floors/Taxes1038 Words   |  5 Pagesregulation of the maximum price that may be legally charged. To see how a price ceiling works, we’ll examine its effects in a market for rental housing, when it is called a rent ceiling. A Rental Housing Market The demand for and supply of rental housing determine the equilibrium rent and the equilibrium quantity of rental housing available. A rent ceiling tries to change the rent. The effects of a rent ceiling depend crucially on whether the ceiling is binding or not binding. A rent ceiling is not

The Time Of My Father Essay - 1491 Words

The time in which I was born was very different than the one my parents had to live in when they were children. I was born in a small town in Colombia, where no more than a hundred families lived. The entire population of my hometown was Catholic. There was a small chapel next to my house and the priest went there once a month to celebrate Mass. He and the seminarians stayed at our home, when they went for the Holy Week and Christmas missions. On Saturdays, my brother and I went to a town an hour away afoot or 20 minutes on a horse, to have further studies. Ninety percent of that town’s population were Pentecostal and only 10 % were Catholic. There was a big Pentecostal Church in the middle of the town and a small Catholic church outside the village. My brother and I went to study there on Saturdays because the Pentecostals offered to us a couple of American godparents who sent us gifts twice a year from the US. Nonetheless, to get those gifts we had to attend school on Saturd ays, take pictures with the gifts in our hands, and attend the Pentecostal service once a year. During that service, my brother and I laughed the whole time at the people dancing in the church. My aunt, the only Pentecostal member of a family of twelve siblings, got embarrassed for our behavior every time we attended the service. It was very interesting to grow up in a country where almost all the population were Christians and, at least at that time, 92 percent of the 45 million Colombians reportedShow MoreRelatedMy Father Was The First Time I Broke The Rules1265 Words   |  6 Pages The last time I saw my father was the first time I broke the rules. Although I was almost 16 years old, I never dared to disobey my dad’s strict laws he had laid down once my mother disappeared. I never slept at a friend’s house, never attended a party, and always brought nutritious lunches to school; however, good girls can’t be good forever. I had been devising my plans for wee ks and finally felt ready to escape the bubble my dad trapped me in. Now that I think about it, I might’ve needed to runRead MoreAnalysis Of My Fathers Song818 Words   |  4 PagesThe poems â€Å"My Father’s Song† by Simon J. Ortiz and â€Å"My Papa’s Waltz† by Theodore Roethke, these two poems express uniqueness and similarities. In the poem â€Å"My Papa’s Waltz† a young child describes his time spent with his father. In the poem â€Å"My Father’s Song† a grown man remembers the previous memories of time spent with his father, when he was a child. These two poems coincide through tone, word choice, and figurative language to show the relationship between a father and son. The boy portraysRead MoreMy Father Is My Real Hero859 Words   |  4 PagesIntroduction The father-children relationship is considered one of the sacred and vital relationships in the family lives. In fact, the role played by the fathers in our daily lives is quite significant. Indeed, an excellent father teaches the children to face the challenges of daily lives successfully and tries wholeheartedly to meet the requirements of the family in a excellent way. I consider my father as my real hero since he is a special person in my life. In fact, he is quite affectionate,Read MoreMy Father925 Words   |  4 Pagesï » ¿My Father In my family, the person who I admire is my father. He is over 40 years old, not very tall but has got a medium built, his voice is low and his movements are slow and cautious. In a word, he is a good--looking person in my eyes. My father is a very successful businessman, and he always tells me the way to be a man, how to succeed in my life and how to cherish time. He is always gone through a lot of ups and downs in his life, but my father faced the difficulties with great courageRead MoreCharacter Analysis Of Antigone1533 Words   |  7 Pageshis father or with Antigone, his forbidden wife. Haemon initially chooses his father due to his belief in honoring the gods; however, because he does not have any true loyalty to his father, in the end he chooses Antigone. Creon’s relationship with his son Haemon illustrates the Greek tradition of loyalty aligning with honor. Dishonoring the gods, your family, or your state can end in a curse or death. Sophistocles illustrates the dichotomy of a father and son’s relationship during this time periodRead MoreWhy I Should Go Home Now1257 Words   |  6 Pagesfamily honour. See my father was once an excellent warrior but after being injured in a war he has not fought since. My Mother always said, â€Å"Don’t worry about your father. Focus on marriage.† I never think I will ever be ready for marriage, I’m always told that I m clumsy. It was that time again where they see if i m ready for marriage. That morning my mother and I were looking for my special kimono. It was no where in the house. It came down to 10 minutes. Yet I still couldn’t find my kimono. SinceRead MoreRomans 14 : 8 For If We Live818 Words   |  4 Pagesspeak to my father, while he on his hospital bed and I insisting on him to eat. My father had earlier reported to me that he had no appetite to eat. I was busy explaining to him that food is an essential to healing. My father called my name and said â€Å"Ify Nwam, I am tired. I am tired of everything, and I am tired of fighting.† My father was speaking in a very soft voice. I promised my father to hang in there that I will come to visit him soon, but little did I know that he was asking for my permissionRead MoreA line has been drawn between the teachings of our fathers and their hard work to support the1100 Words   |  5 Pagesline has been drawn between the teachings of our fathers and their hard work to support the family. Children need to understand the importance of fathers and what they can learn from watching their fathers’ dedication to support the family. A good father puts his family first over his desires. Moral fathers provide what is best for their children no matter the consequences. Not all fathers are virtuous, but most are great fathers. Furthermost fathers provide their children a possibility to dream bigRead MoreMy View Of Arranged Marriage969 Words   |  4 Pages My life has always been full of expectations, whether they are minuscule or immense my parents know that there expectations will be met without any hesitation because I was raised to obey and respect my parents using them essentially as guides to live my life in a positive way averting stress and negativity. In my culture most Pakistani parents think children are often subjected to comply with their parents without a question, although times are changing gradually the same beliefs are still beingRead MoreMy Papas Waltz, By Theodore Roethke And Tips From My Father1093 Words   |  5 PagesAn ideal father should be someone who nurtures and lovingly cares for his offspring, and some kids are blessed by this opportunity growing up to spend time with their father, even if their parents are divorced. As the years go by our fathers grow older and we too grow old. We start to reminisce about the nosta lgic times we had when we were young. In the poems â€Å"My Papa’s Waltz† by Theodore Roethke, and â€Å"Tips From My Father† by Carol Ann Davis; the authors draw from different life events, in which

Role and Significance of Circuit Relay Firewall Full Report

Question: Discuss about theRole and Significance of Circuit Relay Firewall. Answer: Introduction Circuit Relay Firewall and SocksPackage in Secure Communication A circuit relay firewall can be defined as a firewall/ proxy server that helps the users or the organizations to establish a secured and controlled connection between the internal and external networks. In this firewall, there is a virtual circuit that is used to filter internal requests and pass them to the proxy server. After this the requests are forwarded to the internet with a change in the IP address on the data packets (Zeng, Coffey Viega, 2014). Figure 1: Interaction between the Client server and application server (Source: Zeng, Coffey Viega, 2014, pp-23) For the efficient and controlled use of FTP, SMTP and TELNET by the users inside a network, the SOCKS package provides a strong authentication mechanism by using a request and negotiation method. This layer functions between the application and transport layer. The user or the client must succeed in the connection establishment request in order to negotiate about the authentication method (Leech, 2016). After this a relay request is forwarded by the client and the evaluation of this request is done by SOCKS server. In this way the when a user needs to connect with an application server it first connects with the SOCKS proxy server, after this the proxy server connects with the application server on behalf of the client machine. It helps in securing the client machine from direct IP-reachability by the hackers or intruders. References Leech, M. (2016).Ietf.org. Retrieved 18 September 2016, from https://www.ietf.org/rfc/rfc1928.txt Zeng, Y. G., Coffey, D., Viega, J. (2014, March). How Vulnerable Are Unprotected Machines on the Internet?. InInternational Conference on Passive and Active Network Measurement(pp. 224-234). Springer International Publishing.

The Culture at Krispy Kreme an Example of the Topic All Posts by

The Culture at Krispy Kreme Robbins (2005) defined an organizational culture as a system of shared meaning held by members that distinguishes the organization from other organizations.He explained that this system is actually a collection of valued characteristics found prevalent in an organization. According to him, organizational culture has seven general characteristics, namely: innovation and risk taking, or how management allows their employees to introduce new approaches and in the process, take some risks; attention to detail here, Robbins referred to the extent to which management expects employees to show accuracy and give full attention to particulars or the fine points, so to speak; outcome orientation indicates that management is not very much into rules and procedures as long as the desired result is achieved; people orientation means that management is always concerned with how decisions affect their employees meaning that no matter how beneficial a decision might be for the organization if such a decision could prove harmful to its employees, it is most likely to be shelved; team orientation, or how the organization organizes activities around work teams instead of individual employees; aggressiveness, on the other hand, means that management wants its employees to be aggressive because it gives premium to competition; finally, the last characteristic is stability this refers to management's preference to keep things as they are, thereby sustaining the existing state of affairs as long as the organization is profitable, instead of going all out for growth and expansion. Need essay sample on "The Culture at Krispy Kreme" topic? We will write a custom essay sample specifically for you Proceed The most appealing culture in Krispy Kreme is the aggressiveness that is encouraged by management. This was declared in their statement: "As we enter the 21st Century, Krispy Kreme is not slowing down." Students Very Often Tell Us: I'm don't want to write my essay online. I don't have the time Specialists recommend: We Write All Kinds Of Papers This was shown to be true when after offering their common stock to the public in 2000, their first international store was immediately opened near Toronto, Canada in December 2001. For a growth-oriented individual, Krispy Kreme is an attractive company because it evidently values aggressiveness in its employees since it is a growth company. Innovation and risk taking, team orientation, and attention to detail are the other characteristics that make the company appealing. Krispy Kreme took a risk when it embarked on a process of improving the process of making doughnut through innovations. It actually decided to build its own doughnut-making equipment in 1950 through the team efforts of its equipment engineers who focused on improving and automating the doughnut-making process." Their engineers also kept on improving their hot doughnut technology to continue providing hot doughnuts to more people around the globe. (Krispy Kreme Doughnuts, Inc., n.d.) The culture at Krispy Kreme is customer-responsive. It has a crew composed of service-oriented and friendly employees who are not bound by rigid rules in their dealing with customers. The low level of formalization observed by the company allows its employees to adjust to different kinds of customers who come from all walks of life this is what is known as empowerment, permitting employees to do what they deem necessary in order to satisfy customer needs. In its customer-responsive culture, Krispy Kreme employees are clearly conscientious in pleasing their customers and are willing to go out of their way just to satisfy the needs of their customers. (Robbins, 2005) Employees of Krispy Kreme know just what is expected of them to satisfy customer needs from the quality of its doughnuts and coffee to the services provided to customers. They are committed to this expectation and focus all their efforts in achieving it. This shows that the culture at Krispy Kreme is strong as it is characterized by a high degree of sharedness and intensity creates an internal climate of high behavioral control." This expectation, therefore, effectively shapes the behavior of employees of Krispy Kreme. Krispy Kreme's Customer Base The customer base of Krispy Kreme could be described as people who eat outside their homes for different reasons. They could generally be classified into three categories: first, those who have their lunches, snacks, and evening meals out most of the time, those who go out to eat to celebrate occasions special to them, their families, and friends, and those who are forced to eat out by unavoidable circumstances. The first group is composed of those people who would rather eat out not only because they really enjoy doing so but also because they could afford the habit. Also included under this category are those who are forced to eat out either because they do not know how to prepare their own meals at home, or do not have the time to do so due to their very busy work schedules. In other words, they have to squeeze the expense into their budgets. The second category consists of people who consider eating out expensive but sometimes necessary because they want to celebrate some special events like birthdays, anniversaries, or to reward children for good performance in school. Cost is not an issue for such people because they have prepared for these occasions. The third type includes people who are out on errands, personal or otherwise, and who find themselves too far away to return home for their meal. They have no other recourse but to have their meal out, expensive or not. However, given the choice, they would look for a place where the food is affordable. Notwithstanding their category, however, the customers of Krispy Kreme value their money and would want to have their money's worth in terms of quality, cleanliness, and satisfactory customer service. Set of Krispy Kreme's Customer Service Standards People who are dining out whether habitually or occasionally expect not only excellent food but commendable service in return for their money. For Krsipy Kreme, therefore, customer service starts with its product. For this reason, the first concern that should be addressed by the company is product quality, specifically of its doughnuts and coffee. It should therefore exert every effort to achieve the highest possible product quality at all times. Management could make this possible by exercising due diligence in ensuring that only excellent materials are used in producing their doughnuts and should obtain its coffee only from high quality coffee beans like what Starbucks is doing. In aspiring for quality, the company should see to it that it employs only the most qualified chefs. However, it should not only maintain its complement of highly qualified chefs who are already employed in their present stores but should also develop new talents to comply with their expansion requirement. In addition, research and development programs should be undertaken with vigor in order to regularly come up with new ideas to ensure that customers are forever satisfied and would keep coming back for more. After product quality, the company should take into account the issue involving cleanliness and sanitation. The dining room, rest rooms, and kitchen should be immaculately clean. Customers should be fully convinced that they are being served with clean food prepared in a sanitary manner and handled only by sterile workers. To this end, it would be very effective if the kitchen is constructed in such a way as to allow customers to observe how food is being prepared and handled by clean-cut kitchen staff. Customers also prefer to eat in clean surroundings. Krispy Kreme management should therefore see to it that every item in the dining room - from the furniture to the tableware and cutlery are spotlessly clean. There should also be no flies or other insects buzzing around in the dining area. The final customer service concern should be the quality of service. The sales staff, the food servers, and the maintenance people should be in clean uniform and should convey an image of clean liv ing and over-all health. It would not be advisable for management to employ people who look as if they are indulging in substance abuse during their spare time. Customers also want to be served by polite and courteous employees. Employee selection should therefore be centered on service-oriented traits. In other words, management should select applicants who are perceived as inherently polite and courteous and who are personable, neat, and should radiate a general impression of health and cleanliness. All of these are meant to acquire the confidence of customers and establish a management-customer relationship based on trust. If the customers are satisfied that the management of Krispy-Kreme is doing everything in order to safeguard their health and well-being by preparing the food carefully and in a sanitary manner, providing them with a sterile dining area, manned by neat and courteous employees who see to their every need while dining, then the company should have achieved a good foundation for a profitable business. Reference Krispy Kreme Doughnuts, Incorporated. (n.d.) Retrieved October 19, 2007 fromhttp://www.krispykreme.com/ Robbins, S.P. (2005). Organizational Behavior, Eleventh Edition. Prentice-Hall.