- (6 points) Name three ways the workplace has changed in the United States since the 1950s and give an example of each.
One of the most significant changes that have occulted in the U. S’s workplace since the 1950s is the participation of women. Unlike during the 19th and early 20th century, more organizations, both governmental and non-governmental have continued to employ more women in their labor forces as of mid-20th century. For instance, women who were working as bankers and financial managers drastically increased from 9-39 percent between 1960 and 1983.
The U.S labor force has also changed in terms of the composition by age. Due to the decreasing fertility rates, especially those experiences between the 1970s and 1980s, the American workforce has continued to age over the years. For instance, more than have of the U.S workers were baby boomers in the 1990s. As of now, the U.S workplace is dominated by individuals aged 55 years and above, a trend which is expected to skyrocket as time goes due to the lower fertility rates.
Another change that has been observed in the U.S workplace since the mid-20th century is the high employment rates of employed workers. For instance, it was estimated that the number of people working in professions demanding average to above-average educational training has risen to 83 million by 2015 from 49 million in 1980. Technological advancement and globalization are some of the main factors responsible for this change.
- (6 points) A fashion designer wants to sell her line of very distinctive clothes made from luxury fabrics. What type of business organization would you recommend to her and why? Explain the advantages and disadvantages of the possible choices.
I would highly recommend the sole proprietorship form of business organization for her. This is because a sole proprietorship is easy to start which is advisable in case she wants to be the sole owner. More so, it will enable her to run the business the way she wants and will reap all the profits. However, adopting this business structure means that she will bear all the losses alone. Another possible choice of business organization for her is a partnership. Given that she wants to sell distinctive clothes from fabrics, she will be engaging in a manufacturing business which involves purchasing products and converting them into something new. This might be costly to purchase raw materials. As such, having a partner whom she can share liability in terms of losses would be necessary. Nevertheless, partnerships involve the sharing of business profits among the owners.
- (7 points) Imagine that you are applying for a job as an astronaut. Write a letter in which you try to convince the person hiring you that you would be good at this job. Consider knowledge, skills, working conditions, and salary.
18th February, 2019
Human Resource Manager,
Name of the company
Your recent posting of an astronaut position on Linkedin.com caught my attention. I was pleased to see the job opening as it is an area I have always dreamt about. Therefore, I am submitting my resume and the relevant documents for the same. I believe that my knowledge and skills make me an ideal candidate for this job.
Knowing that I wanted to become an astronaut at a young age, I began early preparations by taking interest in science. I went ahead to pursue a bachelor’s degree in physical science in college. I am also a qualified aeronautical engineer with three years of experience as a pilot. In addition, I enrolled in a space program where I acquired vast knowledge that I could apply to become an effective astronaut. Apart from my knowledge and skills, I have excellent communication skills and possess great leadership abilities. Besides, I believe in teamwork and collaboration as a significant factor in achieving the desired outcomes. I am also capable of completing the assigned duties with or without supervision. If you select me to work as an astronaut in your organization, I am fully prepared for the vigorous training you will take me through since I am in good health. More so, I know that I will be required to work for long hours and be committed, which I am ready. Above all, the salary that you are offering is okay with me.
I am highly convinced that I have what it takes to be an astronaut. As such, I would like to put my skills and knowledge, to work for your organization and would welcome the opportunity of meeting with you to discuss my employment potential. Please feel free to give me a call anytime.
I anticipate hearing from you soon to organize an interview for this position. Thank you for your consideration.
- (6 points) what are the advantages and disadvantages of collective bargaining?
Collective bargaining process is important as the agreement or settlement which transpires benefits all the employees in the workplace even those who do not belong to a union. Another advantage is that collective bargaining is that it promotes good relationships and between workers since they have to unite when negotiating for a common concern. Moreover, the agreements often lead to improved quality of life for all the workers since they support higher wages, healthcare, and retirement benefits, and improved working conditions, among others.
On the other hand, collective bargaining does not assure good outcomes for the parties involved. More so, the contracts may end up endangering the financial security of some members in the long term. Another disadvantage associated with collective bargaining is that it can be expensive for businesses. This is because unions demand more workers to be employed, increasing the labor costs for companies.
- (6 points) what statement is this cartoon making about recent events in the business world and the impact of those events on consumers? Explain the economic forces at work.
Generally, the cartoon is portraying how mergers and acquisition have become common in today’s business world. More specifically, it shows how Bellsouth Tammy was acquired by ATST which was then sold to SBC and the name changed to ATST. When companies merge or acquire each other, they can lead to customer confusion due to new names and perhaps, prices. Eventually, this can lead to loss of customers. Mergers and acquisition are driven by economic forces which in turn, affect the competitive environment. For instance, the rate of inflation can significantly lower the competitiveness of a company by reducing its product or service prices. As a result, the business may consider merging or acquisition by another firm.
- (6 points) In what ways are nonprofit organizations similar to and different from corporations? Why do those similarities and differences exist?
Non-profits largely differ from corporations in the sense that they do not acquire profit from the services they provide. Generally, non-profits are not centered on making money as doing so would alter them from serving the public fairly as they are mandated. Most of them, therefore, acquire funds from willing donors and through grants. On the other hand, the essence of every corporation just like any other business is to earn profits by selling goods and/or services. Besides, corporations need the money to pay their workers who are hired at wages.
- (6 points) What are the four factors that account for differences in wages?
The level of experience determines how much an employee receives as the wage. Individuals with demonstrated practice on a particular skill might receive a higher salary than an inexperienced person. Another factor considered by many employers to determine one’s wage is one’s expertise. For instance, an individual who has a degree in computer science and additional skills in IT might be given a higher remuneration than a person with a diploma in the same field. The performance among workers also accounts for wage differences. Companies place value and pay employees who perform well better than average workers. Lastly, employee negotiation ability can make one to receive a better salary than others despite the education level or experience.
- (6 points) Many sole proprietorships fail within the first few years. Why do you think that happens?
The main reason why sole proprietorships hardly make it within their first few years is due to poor financial management. For instance, one may decide that they will use the first-time profit to expand the business without analyzing the market first. Besides, such entities fail because they do not carry out research to know who their competitors are and what they are offering.
- (7 points)A successful Italian restaurant is owned by two brothers. One is interested in experimenting with new menus, opening a new location, and expanding to sell their own line of frozen foods. The other brother wants to cut expenses, increase profits, and reduce the menu to a few tried-and-true customer favorites. What are the advantages and disadvantages of this partnership?
The primary advantage of this partnership is that since one of the brothers is a risk taker and the other is concerned with cutting costs, it is likely to succeed. They can attract new customers by trying out new dishes and save by narrowing down the menu. Another advantage is that they will share the profits. However, if they incur losses when they open a new place, they will share the losses among them.
- (6 points) What are three advantages for businesses of hiring temporary workers?
Business can save on various costs by employing temporary workers. For instance, most organizations do not give their part-time employees medical and retirement benefits. Another advantage of hiring temporary personnel is that they can serve multiple functions and do not necessarily have to handle a specific task. Moreover, businesses benefit from temporary employees who are highly skilled while determining whether they are suitable for the job.
- (6 points) How are the liability and the life of the company different for corporations and sole proprietorships?
Companies have limited liabilities while sole proprietorships have unlimited liability. In companies, the board of directors is responsible for all the operations while sole proprietors are accountable for everything that happens in their entities. As for life, companies last long while sole proprietorships can shut down within a short time after opening.
- (6 points) What are three reasons for the decline of labor unions during the late 1900s?
- Economic success
- Poor leadership
- Increased anti-union campaign
- (6 points) If you were going to open a restaurant, would you chose to have a franchise or a sole proprietorship? Explain your answer by citing the advantages and disadvantages.
I would consider a sole proprietorship over a franchise when opening a restaurant. Unlike franchising, sole proprietors have total freedom of how to run their operations and are flexible. Even though a franchise is more likely to succeed, the franchisor has the upper hand on how to run the business and demands a cut of the profit.
Part 2: Interpreting Charts
Using the exhibit, answer the following questions. Note that the exhibit reflects the early AFL, not the current organization.
- (4 points) Did the Knights of Labor or the early AFL have more discrimination? Explain your answer.
Both Knights of Labor and the AFL exhibited some form of discrimination. AFL was biased against non-skilled and women. On the other hand, the Knights of Labor was not fair as it restricted the employees from striking or collective bargaining.
- (4 points) Were members of the Knights of Labor or the early AFL more likely to be involved in violent protests? Explain your answer.
Knights of Labor members had a high potential of engaging in violent protests than or the early AFL team. This is because unlike AFL employees, the Knights of Labor workers were allowed to neither strike nor bargain. As such, they were likely to fight for their rights through violent means.
- (4 points) Did the Knights of Labor or the early AFL have a stronger influence on employers? Explain your answer.
The early AFL had more influence on their personnel compared to the Knights of Labor. By allowing members to strike and through collective bargaining, AFL was able to convince their workforce that it would help them fight for their rights.
- (4 points) How might the Knights of Labor have influenced unions that followed?
Knights of Labor might have influenced unions that came after not to discriminate workers based on the level of skills or gender. They may also have inspired the later unions not to permit strikes or negotiations as it is cost-effective.
- (4 points) How might the early AFL have influenced unions that followed?
By allowing collective bargaining and strikes, the early AFL may have influenced the unions that followed to emphasize on the need to fight for workers’ rights to better their lives.