Recent orders
Homewo, Peterson
Name
Course Instructor
Course
Date
Homework: Peterson
Issues facing Wendy Peterson are management issues especially how to have her ideas and thoughts implemented in the company. Wendy is faced with the major challenge of handling Fred Wu, whom despite producing great results, does not adhere to the rules and regulations of the company. It is likely that Wendy is in dilemma. She is eager to produce results but again there are issues concerning work ethics that ought to be adhered to. Yes, Wendy is so much interested in good results but she does not know how to handle Wu because he seems to be going off-track despite his wonderful records. It seems that Wu has his own personality and characters that he wants to dominate and he is not ready to abide by his boss’s rules.
Wu is motivated in his approach in addressing Ms. Peterson by his achievements and uniqueness in the company. He is able to sign huge lucrative contracts with some Chinese business which is a special target for the AccountBack Company. He also has a unique professional experience that he uses in the field to persuade clients. He has a vast experience with Chinese companies because of his past relationship with them and the fact that he is also of Chinese origin. Generally, Wu is a quality that Ms. Peterson and the company would wish to have as far as revenue collection is concerned even though he does not seem to possess teamwork behavior.
Wu does not seem to have good communication skills. He does not call or send emails in case of any emergency or any issue as stipulated by the company and Peterson. Peterson loves constant communication and would always love to address every issue that arises in the course of the business. However, Wu does not take communication serious. He feels that by fulfilling the business purpose and role of acquiring clients, he does not need to constantly communicate. Wu believes that the most important thing is the client but other employees as thought by Peterson.
Second part
Wendy faces the challenges of dealing with employee with different culture. She also has a tendency of interacting and encouraging continuous communication that unfortunately seems irritating to some employees such as Wu. Peterson tends to concentrate much in producing results rather than understanding individual employee’s culture, behavior and characters. Wendy generalizes that all employees should adhere to her ideas. She is not flexible when it comes to dealing with employees.
Managing subordinates with different cultural backgrounds may be very challenging because they have their own work values that are different from ours. It is always hard to understand an individual subordinates beliefs and some of the organizational cultures may be hurting them. Communication, individual’s perception and ability to adapt to the environment are some of the challenges affecting individuals. My understanding of the psychological contract makes me consider the significance of the relationship between me and my employees by encouraging a mutual expectation of both inputs and outcomes. My decision focuses on employee’s feelings and the fairness of balance.
Wu’s performance has been very impressive technically especially in establishing lucrative contacts with top Asian businesses and bring in a very big account in a short period of time. He closed his first business deal worth over $400,000 annually barely eight months after he was hired. Nevertheless, Wu is not very good at working in a team and his cooperation to others was low. He acted suspiciously by keeping the account and contact of Mr. Tian-Ming Zheng, a customer, all to himself. These behaviors make him score low marks in his performance.
If I were Peterson I would have let Wu go to his preferred company by initially consider whether his actions prioritized the company and the client’s long term benefits or not. By assessing his performance against the organization norms especially his abilities to engage in teamwork activities and the eventual effect on other employees, I would be able to make decision of firing him. The best thin g to do with Wu would simply encourage him to embrace better communication between me and him as well as other employees. Considering continuing working with Wu may risk creating inequality simply because he has brought success and this may later affect the department in terms of employee relationship.
Article Review Millenials for Socialism
Name:
Course:
Professor:
Date:
Article Review: Millenials for Socialism
Walter E. Williams is the author of the article titled “Millenials for Socialism” published in TownHall magazine on the tenth of April 2019. He is a holds a doctorate in Economics from the University of California in Los Angeles. The article is a criticism of the implementation of socialist policies in the country. The author highlights examples of socialist countries that have faced economic turmoil because of socialism. He uses these examples to warn against the increasing support of socialism by millenials.
The author does not mince his words in the opening statement, remarking that “If one needed evidence of the gross ignorance of millennials, and their teachers and college professors, it’s their solid support for socialism and socialist presidential candidate Sen. Bernie Sanders.” (Williams) he suggests that these people base their judgments on mere speeches rather than relying on facts. Socialism may sound good in theory, but resulted in disaster in countries such as Argentina which fell from being one of the the welathist country to ranking 25th in terms of GDP (Williams). Venezuela is one of the poorest countries after adopting a socialist approach in its economy. Germany and Korea had two parts of ach country, one socialist and the other capitalist. The capitalist sides had more wealth and income as well as protection of human rights.
The main characteristic of a free market economy is the private ownership of property and means of production. Socialism on the other hand features almost absolute government control of property and means of production. Socialist republic face challenges such as low income and gross violation of human rights (Williams). There is no pure free market economy system, and neither is there a pure communist system. Countries are judged based on which spectrum they lie closet to. From research, countries closer to a free market economy perform far better than their socialist counterparts based on GDP and ‘Freedom in the World’ report. Denmark and other Scandinavian countries are touted by US leaders such as Sanders as models of socialism but these assumptions were refuted by the Prime Minister of Denmark.
The fact that the author holds bachelor’s, master’s and doctorate degrees in economics lends credence to his argument. It is assumed that he understands his subject matter intimately. The challenge is that he does not back up his claims with facts and figures. For example, the reader may ask, is socialism entirely to blame for Venezuela’s economic downfall? Might there be other factors such as bad leadership involved? It is difficult to identify if the author’s claim is justified. The author also uses unnecessarily strong language in his frits sentence, referring to milennials and their professor as grossly ignorant. This statement is obviously untrue, students and their professors are not ignorant; it might have been better to explain that their ideas are unfounded and misguided. Reading this article, a reader cannot fully rely on the author’s claims as true due to the absence of evidence and facts to support his theory that socialism is harmful for any country.
Works Cited
Wiliams, E.Walter. “Millenials for Socialism.” Townhall 10 April 2019. Retrieved from https://townhall.com/columnists/walterewilliams/2019/04/10/millennials-for-socialism-n2544432 Accessed on 15 April 2019
Article Review Counterfeiting Money Is a Crime — Whether Done by the Fed or A Private Individual
Name:
Course:
Professor:
Date:
Article Review: Counterfeiting Money Is a Crime — Whether Done by the Fed or A Private Individual
The article, “Counterfeiting Money Is a Crime — Whether Done by the Fed or A Private Individual” appeared on the Mises Institute website on the 13th of April 2019. Written by Patrick Barron, a consultant in the banking industry, the article sheds light on the economic effects of counterfeit money. The author explains that both individuals and the Fed can produce counterfeit money with different explanations, but the resulting effect is the same. From the article, the Fed produces money with an aim to increase supply but ends up with the same negative impact of counterfeit money from individuals.
The article begins with an encounter that the author had with representatives from the Fed in Iowa. The team from the Fed was going around the country explaining its functions to citizens. He describes the group as being young and very personable, but obviously unacquainted with the core functions of the Fed. The author makes a quirky version of his recollection of the vent where the team failed to give a satisfactory answer to a question he posed (Barron). He goes on to assert that there is no difference between the actions of a private counterfeiter and the actions of the Fed printing money. The only difference is that the counterfeiter’s activities are considered illegal and detrimental while the Fed’s are within the law.
According to Barron, the Fed only highlights the positives of printing money such as benefits to the housing sector. The truth of the matter is that in the long run, the monetary expansion policy disrupts the structure of production leading to gains in the short term but losses in the long term (Barron). The losses are more significant than the aggregate benefits. This happens as the counterfeiter makes purchases with the money and lives a good life while the money is passed onto other people. They acquire property at no cost, and this affects the production process. The effects of the Fed printing money are infinitely more destructive to the economy. In nineteen years, the Fed has increased the monetary base by about three trillion dollars.
From the article, it is clear that the author disapproves of monetary expansion policies of printing money. This is evident in how he equates the Fed’s actions of printing money to the criminal act of making counterfeit money. According to him; both acts are illegal. He reinforces his argument with an account of an encounter with a team from the Fed which was unable to respond to his questions on the benefit of printing money for the economy. While a non-economist may not be able to analyze the effects of this action, the author seems to be a credible source given his career in the banking sector. At the end of the article, his credentials are listed including teaching at the Graduate School of Banking in Iowa and consultancy in the banking industry, his analysis of the subject matter has been simplified to appeal to diverse audiences especially those unaccustomed with the workings of monetary policies.
Works Cited
Barron, Patrick. “Counterfeiting Money Is a Crime — Whether Done by the Fed or A Private Individual” Mises Institute. 13 April 2019. Retrieved from https://mises.org/wire/counterfeiting-money-crime-%E2%80%94-whether-done-fed-or-private-individual Accessed 15th April 2019