The Roman Catholic View On Abortion Essay free essay sample

, Research Paper The Roman Catholic View on Abortion Abortion is the stoping of gestation before the birth and the Roman Catholic Church would state that this is morally incorrect. An Abortion consequences in the decease of an embryo or foetus. Abortion, the Church says destroys the lives of helpless, guiltless kids. By aborting these unborn babies, worlds are aching themselves ; they are non leting themselves to run into these new individualities and alone personalities. The Church teaches the human life begins at the minute of construct. During the past one-fourth century, abortion has joined race and war as one of the most problematic topics of contention in the United States. It discusses human interaction where moralss, emotions and jurisprudence come together. Abortion poses a moral, societal and medical quandary that faces many persons, which can make an intensely emotional and sometimes even violent ambiance. The Roman Catholic Church would keep that from the minute of construct, the embryo or foetus is alive. We will write a custom essay sample on The Roman Catholic View On Abortion Essay or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This life imposes a moral duty on its parents to continue it. Abortion is seen by the Church as being tantamount to slaying. In the United States, approximately 1.6 million gestations end in abortion. Woman with incomes under 11 thousand are over three times more likely to abort than those with incomes above 25 1000. Unmarried adult females are four to five times more likely to abort than married adult females are, and the abortion rate has doubl erectile dysfunction for 18 and 19 twelvemonth olds. Recently the U.S. rate dropped six per centum overall but the rate of abortions among misss younger than 15 jumped 18 per centum. About 40 per centum of Americans believe that abortion should stay legal and 40 per centum believe that it should be banned except when the gestation threatens the life of the female parent or is the consequence of colza or incest. In add-on, 15 per centum believe that it should be illegal in all instances. However, abortion is considered slaying by half of all Americans. Scientific research has successfully shown that abortion cause many psychological side effects. It leaves the adult female with many strong feelings about their determination. They feel sadness, wishing that their state of affairs could hold been different and heartache for a lost life. Guilt arises because they know a foetus represents an independent life. Anger builds up towards other people holding to make with their determination. Sometimes the female parent may experience that she has in fact been abandoned. Most of all, the female parent may experience ashamed and abashed about her action. Peoples near to the female parent may be angry with her for stoping her gestation and do it hard for her to cover with. Even old ages after abortion, adult females tend to retrieve the sorry experience. They normally wonder about the babe # 8217 ; s personality and it might hold looked like. Symptoms like incubuss panic onslaughts and flashbacks are wickednesss of a late discovered Post Abor tion Syndrome.

The Inspector directs on stage and manipulates audiences response Essays

The Inspector directs on stage and manipulates audiences response Essays The Inspector directs on stage and manipulates audiences response Essay The Inspector directs on stage and manipulates audiences response Essay Essay Topic: Literature I think that this play is very good at getting Priestley points across. After I had read the play it immediately made me think about the way I treat people. This is because in my view the way the message is delivered through the use of the character Inspector Goole, also the harsh reality of the story about the young girl, Eva Smith, and about her committing suicide. This is quite a selfish way to interpret the play and changing your ways, also the play is about not being selfish, looking after each other and working as one body, this is quite ironic. The way the inspector challenges Mr Birling, although Mr Birling is a powerful man. The inspector isnt afraid of who the inspector knows how do you get on with the chief constable? Perhaps I ought to warn you hes an old friend of mine. This doesnt scare the inspector which appeals to the reader. Also as soon as the inspector walks in the lighting changes from cosy to a harder light. This shows the presence of the inspector it shows that as soon as he walks in the atmosphere changes. Priestley wrote this play in 1947 but set it in the year 1912 just before the First World War and in the year of the titanic sinking. This technique called distancing. It enables the audience to think about times by reflecting on the past. He uses to help get his point across and also it helps give the impression of Mr Birling being pompous and stupid. This is as he refers to the titanic and calls it unsinkable, absolutely unsinkable he also comments on the thought of war, youll hear some people saying war is inevitable. And to that I say fiddlesticks. This makes Mr Birling look stupid as the audience of the time know that there has been a war, two wars. They are also aware that the titanic did sink. This helps to get Priestleys point across as; if Mr Birling looks stupid then it shows capitalism is stupid. The way in which it is set back in time adds to the importance of changing ways, as the end the inspector talks about if men dont learn there lesson soon then they will be taught it in blood and fire and anguish. This refers to the war and it gets the audience to think have they learned there lesson, as they will have probably lived through two wars and wont want to see anymore. The play was written just after the second war, in 1947, but everyone would still be feeling the effects of it. This helps Priestley to get the audience to reflect on their lives and to see what mistakes they have made and make them want to change as they wont want to go through anymore big ordeals like a war. Priestley had many time theories and influences while writing this play which helped him set it in a good way to get his message across with effectiveness. He was fascinated by the theories of time and he got his influences off P. D Ouspensky and J. W Donne. P. D Ousepensky believed that after death we entered the same life and are trapped in that cycle until we can learn from our past mistakes and break out of it. J. W Donne believed some people have the ability to see into the future and see the consequences of their actions. This second theory is visible in the play as after the Birlings are visited by an inspector, Inspector Goole, and questioned by him. After they have found he was fake, the police station ring up and say that an inspector will be on his way round to question them about a girl who has recently committed suicide. This gives them a chance to do the right thing and tell the inspector everything. Even though they have the chance to tell the inspector everything and do the right thing, the audience get the impression that only Sheila and maybe Eric will actually go through and admit what they have done. Even though none of the things happened are crimes against the law but just moral crimes, the Birlings are too ashamed to admit what they have done. Priestley has used Sheila as the character to help reinforce his point and she is what Priestley wants the audience to do. This is as she changes her views because of the events that happen in the play. This is what Priestley wants the audience to do think about what theyve done and change their views because of the play as they wouldnt want to think that they have made someone feel that bad. This play is still relevant to audiences in modern times as not everyone now treats people fairly. The difference is that in the modern era employees have unions, to protect them against unfair decisions from employers and give them more rights for all aspects of working, and national insurance cards and numbers. In 1912 when this play was set these things were just starting to begin. Before the inspector arrives to the Birlings house the mood is very natural and its very realistic. This is as the play is set in real time which means whatever happens on the stage would have took the same amount of time in real life, so it isnt set over weeks or months. As the play is set in real time it makes it seem much more realistic to the audience which would therefore shock them more. This is what Priestley wanted as it would make the audience go away from the play and think about how they treat people. That was also what Priestley wanted the audience to do. In the stage directions it comments that the Birling family and Gerald have had a good dinner, are celebrating a special occasion, and are pleased with themselves. It also comments that the lighting should be pink and intimate until the inspector arrives, and then it should be brighter and harder. This shows that the atmosphere is going to change when the inspector arrives, from the nice relaxed one to a very uneasy tense atmosphere. The opening stage direction also gives a lot of information about the characters and household. This gives us some clues about what the family are like and it would have given the audience some visual clues, which would have given them a little impression of the characters. From the first act we learn a lot more about the characters and the pleasant relaxed mood is continued through. In the first act Birling gives lots of advice to Eric, Sheila and Gerald. He thinks he knows more than he actually does like calling the titanic unsinkable and commenting that war is never going to happen. Also he gives his advice as the capitalist and industrialist representative. He tells his children that they should look after there selves and family none of that community and nonsense this shows he is a strong believer of the capitalist views. When the inspector arrives it is just after Mr Birling has made a big speech on looking after himself- and his family too, of course and also on capitalist vs. labour, which it is like when the inspector comes as Mr Birling shows the view of a capitalist and industrialist, whereas the inspector shows the view of a socialist. Birlings speech before the inspector arrives shows that the two are going to have completely different views. As the inspector is a socialist and believes in collective responsibility and looking after everyone, whereas Mr Birling believes that we should just look after ourselves and family. The inspector is shown in the play to be the antithesis of Mr Birling and this causes Mr Birling to not like the inspector. The inspector believes Mr Birling is wrong for discharging Eva Smith and comments about her asking for higher wages saying they might but after all its better to ask for the earth then take it. This shows that there wasnt anything wrong in just asking for higher wages. Although Mr Birling is a strong believer of the capitalist views when the Eric brings up the speech Birling has just gave on looking after yourself and family, Birling is keen to dismiss it and not talk in front of the inspector about it. This shows that although he has strong beliefs he knows the inspector has the opposite views and it shows that Birling is afraid to confront him about it. At the start of this play we are led to believe that it is going to be a murder mystery play but instead we find out it is a morality play. The reader wouldnt find out it is just going to be a morality play until it as finished. This would have made the ending a bit of anticlimax for the audience as they would have been expecting a big mystery to unravel whereas it ends more abruptly but it does have the added mystery of what is going to happen when the real inspector visits them. The inspector is at The Birlings household to investigate the suicide of a girl called Eva Smith. He goes into depth about the incidents running up to the death of this girl. This seems odd to the audience as they would have wondered why the inspector is asking questions about her being discharged from work as it bears no reference to her death and its not illegal so the inspector didnt need to investigate that. Also the other events running up to her death like her getting fired from her department store job, in Milwards, her relationship with Gerald and also her conversation with the group that helps women headed by Mrs Birling werent necessary in investigations. The only person out f the Birling family that the inspector needed to talk to was Eric, this is as his involvement with this girl, Eva Smith, was the only one out of the familys involvements with her that was illegal. But the way Priestley does these investigations into the other events such as Sheila getting her fired makes it seem like the events were illegal. Also the way Sheila feels extremely bad for what she has done helps add to Priestley getting the point across that all of these events were wrong. This helps him in his dramatic purpose as it helps make the audience feel that these events were bad. The audience would have been of similar class to Mr Birling so if Priestley could make them see that these events were wrong them it would change society dramatically. When the inspector is questioning his manner is very direct and forthright. He isnt scared of Mr Birling and still uses this style when questioning Mr Birling. Mr Birling tries to intimidate the inspector but the inspector isnt fazed by it and he carries on his style of questioning. This would have seemed very strange to the audience as the manner of the inspector is very rude and not like the manner of normal inspectors. Even when Mr Birling comments that he is very good friends with the chief constable and that he plays golf with him regularly the inspector isnt intimidated by this and answers dryly to him and very sarcastically as if he is mocking Mr Birling. The inspector contradicts, undermines and over-rules Mr Birling. He is always in control of the situation and it never seems that Mr Birling is in charge of the two. When Mr Birling is trying to ask why should you come here inspector- the inspector cuts right in which shows that he is in charge and it shows that he is the superior of Mr Birling so Mr Birling should speak when the inspector tells him too. The inspector is like this all the way though the play with Mr Birling and although Mr Birling tries many times to tell him that he doesnt like his manner and he should show respect, Birling I dont like that tone, the inspector pays no attention and carries on with his ways. The way he criticises the lack of care from Mr Birling and his manner is not what you would expect from a normal inspector. When the inspector is questioning Sheila he uses grisly details of Eva Smiths death which works as a shock tactic, not only to Sheila but to the audience as well. He uses some very emotive language which helps the audience and Sheila feel extremely sorry for Eva Smith. Throughout questioning Sheila he uses phrases and words like burnt her insides out and died, after several hours of agony this is the type of emotive and grisly language he uses too shock Sheila. She is different to her dad, Mr Birling, as she is very willing to accept responsibility for Eva Smiths death. This is how the inspector introduces collective responsibility to the family, through Sheila as she is willing to accept responsibility. As soon as she realises her connection with Eva Smith she feels extremely guilty and is willing to talk about why she got her sacked, but she doesnt try and justify it. When the inspector has finished investigating Sheila and moves on too investigating others then she acts as an assistant to the inspector. She tells her family that there isnt any point trying to pretend you didnt know her as the inspector will just cut you too pieces and prove you did. She asks questions of her own which helps the inspector in questioning, although she doesnt realise it does. Go on mother you might as well admit it Yes she is why? . She does this to help make her family see the same pint of view as her. Sheila is the first to realise that the inspector is not normal and is probably a fake. She says that its queer very queer when talking about the inspector to the family after he has gone. Although after they find out the inspector isnt real and all the family are happy, she still feels extremely bad and tells her family that we should change our ways although the inspector wasnt real he still spoke some truth and we should realise that we are treating people wrong. She isnt afraid of admit she is wrong and this is who Priestley uses to get his point across and help audiences to think about their personal experiences and change. The inspector isnt just bothered about facts that prove legal guilt but more of moral responsibility. This fits in with Priestleys underlying message as he wants people to change their views and think more about if they are being morally correct. The inspector, in his final speech, talks about there may be only one Eva Smith but there are millions more like her he is talking about social classes there and telling the Birlings and the audience that we need to help them. He doesnt just question the family but he also questions the class system and the attitudes they represent. He uses the family to show what is going wrong and right with the country. He uses Sheila to show that the young are changing there views which is good as they will pass it down so will mean that the problem might have disappeared in future years. But he also talks about poverty and that rich business men, like Mr Birling, arent doing anything to help the poor. In the inspectors final speech he predicts the first and second world wars which acts like a symbolism. He comments that if men dont learn there lesson soon they will learn it in blood and fire and anguish. This shows he predicts there will be a war if men carry on their ways. When the inspector leaves we still dont find out who he is. This leaves it as a bit of a mystery but he still makes a dramatic impact on the characters and audience. The way he isnt a real inspector adds to the dramatic impact. From the stage directions after the inspector leaves it shows how much of an impact he has had on the family and on the audience. Immediately after he leaves the family are stood there in thought. This is shown in the stage directions as it comments on all characters such as Sheila were it says Sheila is still quietly crying. This time were all the characters are in thought acts like a time for the audience to reflect on pass experiences and think about how they are going to treat people in future. The younger generation react to the inspector better then the older generation as they are much more willing to change their views and accept that the inspector is right, whereas the older generation feel that they dont have to change their ways as the inspector wasnt real so none of it counts. There is a final twist at the end of the play when they find out that a real inspector is coming around to ask them a few questions concerning the suicide of a girl. This would appeal to the audience as they would have wanted to see some justice. This is the effect of the inspector as even though the crimes werent legal crimes and just moral crimes the audience see them as crimes that should be punished. At the end of the play I immediately thought about how I treat people. It showed that Priestleys achieved his dramatic purpose. Although the inspector is not a realistic person it doesnt take anything away from the point of the play. After the play I didnt feel that because the inspector wasnt realistic that there wasnt anything to think about I still considered it very real and that it is important to think about personal past experiences and think about your views. I think the way the underlying message is put across is very clear and I think it would have challenged peoples thoughts. Priestleys techniques of getting his message a very successful and which makes the message clear and precise. I think this play is very good at getting its message across. Although it isnt as action packed as a modern audience would expect I still think it would be a good play to see and it would definitely help you to change your views.

An analysis of 3 turning points in history from 8000 B.C.E up to 1500 Essay

An analysis of 3 turning points in history from 8000 B.C.E up to 1500 - Essay Example From an academic point of view, analyzing the history of societies, cultures, disputes, inventions and technological advances allow us to understand the methods through which primitive nations overcame their limitations and attempt extract useful information from the patterns of change that have been there in the previous millenniums. In comparison to the world that we live in today, these patterns of change were much less disruptive and slow paced before the last few centuries. Change, when it came, was gradual and took several generations to be implemented with visible effects. The life of one generation would be nearly identical to those of their fore fathers and the lifestyle continuing on the same patterns; utilizing the same resources. Consequently, even with the restricted sources of information scholars have about the people that existed in the time before the AD years it is possible to identify and categorize those points when the human population went through a drastic tran sformation. In a positive sense, these events could symbolize a discovery, a way of travel, communication or livelihood- anything which made life easier for the groups and allowed them to increase their populations. The opposite would be any happenings which damaged their ability to survive or removed the effects any previous developments. It is easy to understand why the positive disruptions are the ones highlighted and researched more extensively. The introductory period in the studies of world history is known as the â€Å"foundations†. this period ranges from 8000 BC to 600 BC and is so named because of it was the beginning era for the all future trends and discoveries which have shaped human civilizations to eventually transform it into the modern world we recognize. This was the time of emergence of major Early "River Valley" Civilizations (about 3500 B.C.E. - about 1200 B.C.E.) and Classical Civilizations (about 1000 B.C.E. - 600 C.E.) which were the first formally des igned societies1. Though there is still some argument between academics about the exact dates of this era, the marker events have been recognized by all and it is accepted that many of these may not have occurred at a specified date but would have happened during a certain period with discoveries being made simultaneously in different regions and different populations. The major transforming events could not remain restricted to any one group or area; they had to be and spread and adopted on a global scale in order to have a true long lasting impact on the human species and their life style. In some cases sharing of knowledge between different groups enhanced the cumulative knowledge base as a greater number of minds could then work on producing new solutions to the existing problems and improving the ones that existed. As such we will be discussing the three major turning points of the period ranging from 8000 BC to 1500 BC from the view point that these were continuous processes a nd the contributions and scale of impact from these differed for different geographical areas. 1. The Agriculture Revolution: Man cannot live without food; as any other species it lives where food can be gained easily and follows where its prey goes. However, humans had many advantages over their animal companions including bipedalism, highly defined motor skills, and most importantly greater mental capacity that allowed them to use

Religious Perspectives Essay Example | Topics and Well Written Essays - 500 words

Religious Perspectives - Essay Example As such, each forbids evil and enjoins good. That is the crux of any similarity in their perspectives. They seem to disagree on the very reason for the sermon. Popular observance of some holidays in honor of individuals is the main point of ideological contention between the speakers. The announcer leans toward approval while implying Shaykh Mahmud was somehow opposed (Windows, 109). He embraces the legendary remembrance of individuals. He focuses on the fallibility of scholars especially how they could inadvertently thwart good in their nearsightedness (Windows, 110). Shaykh Mahmud's sermon was a pretty standard "Be fair to others and praise your Maker" sermon. He did not explicitly oppose anything of the sort (Windows, 110 - 116). His non-mention of Sidi 'Abd ar-Rahman 'Uthman ash-Shahawi could be interpreted as a rejection of the proceedings Each speaker establishes a distinct position on how they believe Islam should be performed. The announcer approaches the celebration in terms of the overt observance of a holiday born in modern legend and appeals mostly to logic. Shaykh Mahmud approaches it in terms of the esoteric message appeals mostly to Qur'an and Sunnah of the Prophet Muhammad (SWS). One may infer certain points about the different ways that some contemporary Muslims think about Muslim devotional practices.

Global recession and emerging challenges for human resources management in india

Global recession and emerging challenges for human resources management in india INTRODUCTION Meaning of Global Recession A recession is a decline in a countrys Gross Domestic Product (GDP) growth for two or more consecutive quarters of a year. A recession is also preceded by several quarters of slowing down. An economy, which grows over of period of time, tends to slow down the growth as a part of the normal economic cycle. An economy typically expands for 6-10 years and tends to go into a recession for about six months to 2 years. A recession normally takes place when consumers lose confidence in the growth of the economy and spend less. These leads to a decreased demand for goods and services, which in turn leads to a decrease in production, lay-offs and a sharp rise in unemployment. Investors spend less; as they fear stocks values will fall and thus stock markets fall on negative sentiment. Risk aversion, deleveraging and frozen money markets and reduced investor interest adversely affect t capital and financial flows, import export and overall GDP of an economy. This is what exactly what happened in US and as a result of contagion effect spread all over the world due to high integration in the global economy. According to the International Monetary Fund (IMF)s latest Global Financial Stability report (GFSR) widening and deepening fallout from the US subprime mortgage crisis have profound financial system and macro-economic implications. While the US remains at the ‘epicenter, the backwash effect of the American financial institution in other countries ‘reflecting the same overly benign global financial conditions, an inattention to appropriate risk management systems and lapses in prudential supervision. The global slowdown has its implications on the domestic economy. During the last three years Indian Economy grew at an average annual rate of 8.6 per cent. For the first time the economy has shown signs of deceleration and grew at 7.8 per cent in the first half year of 2008-09 (April-September). The service sector, which contributes more than 50% share in the GDP and is the prime growth engine, reported to be slowing down, mainly in the transport, communication, trade, and hotels restaurants sub-sectors. The industrial growth has decelerated sharply during April-November, 2008 encompassing all the constituent sectors. In manufacturing sector, the growth has come down to 4.0 per cent in April-November, 2008 as compared to 9.8 percent in the corresponding period of last year. The slowdown occurred in the all the use-based categories, except consumer goods where it has accelerated. Meaning of HRM Humans are an organizations greatest assets; without them, everyday business functions such as managing cash flow, making business transactions, communicating through all forms of media, and dealing with customers could not be completed. Humans and the potential they possess drive an organization. Todays organizations are continuously changing. Organizational change impacts not only the business but also its employees. In order to maximize organizational effectiveness, human potential—individuals capabilities, time, and talents—must be managed. Human resource management works to ensure that employees are able to meet the organizations goals. Human resource management is responsible for how people are treated in organizations. It is responsible for bringing people into the organization, helping them perform their work, compensating them for their labors, and solving problems that arise. There are seven management functions of a human resources (HR) department that will be specifically addressed: staffing, performance appraisals, compensation and benefits, training and development, employee and labor relations, safety and health, and human resource research. Global Recession and HRM The financial downturn is impacting developed as well as developing economies are likely to get worse as the European countries, the US and others go into a deeper depression due to the increase in job losses which often follows recession. The slump in the market and increased job losses will have some important implications for the changing task of human resource professionals. As the unemployment continues to increase, HR professionals are likely to be dealing with more stressed employees who are the sole wage earners in their families. As recession is becoming the part of the normal cycle of business. Therefore it makes just as much sense to plan for recession or downturns as it does to plan for good, economic times. OBJECTIVE This economic downfall has affected all the major sectors in India including IT, aviation, banking, real estate, tourism, outsourcing, telecommunication, etc with its consequence mainly on the HR policies of these industries. This article discusses Impact of economic slowdown on employment in India. The emerging challenges of human resource management in the global recession situation. The strategy adopted by HR personnel to deal with these challenges. HYPOTHESIS In todays economic meltdown where job cuts, loss, pay reduction, last come first go, insecurity of employment atmosphere prevail, HR has special responsibility to create ease environment to the affected by counseling, displaying care and concern, preparing them for multi skill task, engaging and deploying in other required areas of functions like security, crisis management team, etc. Global recession has raised various emerging challenges for Human Resources Managers HR needs to be proactive innovative and try to come up with early interventions as for any organization to survive during recession. REVIEW OF LITERATURE â€Å"The global economic crisis is expected to lead to painful cuts in the wages of millions of workers worldwide in the coming year. It predicts that the slow or negative economic growth, combined with highly volatile food and energy prices, will erode the real wages of the worlds 1.5 billion wage-earners, particularly low-wage and poorer households. Between the years 1995 and 2007, for each one per cent decline in GDP per 2 capita, average wages fell even further by 1.55 percentage point, a result that points to the possible effects on wages in the current crisis. [International Labour Office (ILO), 2007-08]. ‘The economic slowdown of the advanced countries which started around mid-2007, as a result of sub-prime crisis in USA, led to the spread of economic crisis across the globe. Many hegemonic financial institutions like Lehman Brothers or Washington Mutual or General Motors collapsed and several became bankrupt in this crisis. According to the current available assessment of the IMF, the global economy is projected to contract by 1.4 per cent in 2009.Even as recently as six months ago, there was a view that the fallout of the crisis will remain confined only to the financial sector of advanced economies and at the most there would be a shallow effect on emerging economies like India. These expectations, as it now turns out, have been belied. The contagion has traversed from the financial to the real sector; and it now looks like the recession will be deeper and the recovery longer than earlier anticipated. Many economists are now predicting that this ‘Great Recessionof 2008 -09 will be the worst global recession since the 1930s.[Choudhari 2008] â€Å"The financial downturn that is impacting developed economies are likely to get worse as the European countries, the US and others go into a deeper depression due to the increase in Job losses which often follows recession. The slump in the market and increased job losses will have some important implications for the changing tasks of human resource professionals. As the unemployment continues to increase, HR professionals are likely to be dealing with more stressed employees who are the sole wage earners in their families†. [Mujtaba, 2008} â€Å"The global economic crisis has brought to the forefront of organizations the concepts of viability and survival which at these times can be desperate pursuit. There are three main reactions in organizations, namely the corporate reactions in organizations, namely the corporate reaction to remain viable, the employee reaction to survive the turbulence, and the human resources reaction ( including recruiting and hiring talent, corporate organization, training and institutional learning)†. [Kathleen Patterson Gray Oster, 2008] â€Å"In emerging economies, growth is projected to slow down appreciably but still may reach 5.0 percent in the year 2009. The overall recruitments are lower for the industry this time as companies remain cautious amidst the global financial crisis.† [Srivastav, 2009] â€Å"Growth in real wages has slowed down globally in 2008 because of the economic crisis and the trend is expected to continue in 2009, despite signs of economic recovery. Growth in average wages reduced from 4.3 % in 2007 to 1.4% in 2008. Real wages in the first quarter of 2009 also fell in more than half of 35 countries, compared to the annual average of 2008, â€Å"Wage deflation deprives national economies of much needed demand and seriously affects confidence,† â€Å"Minimum wages are an important policy tool for social protection and proposes that minimum wages be combined with other income support measures and/or tax reductions†. [ILO,2009] The last time anyone faced a situation like this was in the 1930s, so if there is anyone who is 98 (assuming they should have been at least 20 then) and is coherent†¦ the rest of us are figuring out and learning on the fly, reasons Elango R, chief human resources officer, Mphasis. According to Elango, Managing the unknown, visualizing into the uncertain future, constantly calibrating and tuning the variables†¦ and hoping to high heaven that you are on the right path†¦ are responsible for increasing stress levels. He believes that the challenge is to take long term decisions without issuing the short term. This requires skills, knowledge and thinking that are not called on in a growth environment. In a growth environment, ones pre-occupations are different, and having seen growth for years most of us are skilled at this. The current business environment entails a delicate tightrope walk balancing both the business interests and employee interests. [Elango R, 2008] RESEARCH METHODOLOGY Secondary Data collected from various sources like * Economic Political weekly * HRM Journals * ILO Reports * Ministry of Labour Employment Labour Bureau ANALYSIS INTERPRETATION I. Impact of economic slowdown on employment in India. Ø Ripples of recession leading to reduction in exports to developed countries are being felt by all the developing countries. Credit availability and its cost have become major areas of concern. The combined impact of all these factors would be loss of employment and reduction of income leading to social distress. The International Monetary Fund (IMF) placed the estimated world output growth at 3.75 per cent in the year 2008 and 2.2 percent in the year 2009 in World Economic Outlook (WEO), November 2008, which represented a significant slide from a level of about 5.0 per cent in the year 2007. Ø The global situation deteriorated rapidly after mid September, 2008 following the collapse of Lehman Brothers, one of the top five investment banks in the US, the collapse of American International Group (AIG) Bank and also of the mortgage lenders Freddie Mae and Fannie Mae. There has been a massive choking of credit since then and a global crash in the stock markets. Ø The deepening of the global crisis and subsequent deleveraging and risk aversion in the global markets affected the Indian equity and the foreign exchange markets. While the Indian economy has a sufficient internal ballast to withstand the impact of global recession because of overall strength of domestic demand and the predominantly domestic nature of financing of investment and exposure of exports to less than 20% of GDP, nevertheless some slowdown is inevitable. It may be observed from Table 1 that the total estimated employment in all the sectors covered by the survey went down from 16.2 million during September, 2008 to 15.7 million during December, 2008 resulting in job loss of about half a million. It is seen that the employment declined every month during this period. It has also been observed that the employment in all the sectors/industries studied went up significantly over the period from March, 08 to September, 2008. Beyond September, 2008, it has however, decelerated at all industries/sectors level at an average rate of 1.01 per cent per month. Table 1 Trends in Average Employment Period Average Employment in Percentage (millions)change September, 08 16.2 October,08 16.0 -1.21 November,08 15.9 -0.74 December,08 15.7 -1.12 Average Monthly change -1.01 Source : Government of India, Ministry of Labour Employment Labour Bureau, Chandigarh. From the above data it is observed that the management people and employees may experience anxiety around a number of issues during an economic crisis or downturn. The monthly average rate of employment loss during Oct- Dec, 2008 was 1.01 per cent whereas in January, 2009 the rate of decline has increased to 1.17 per cent. The increase in rate of change is mainly due to the decline in employment in IT/BPO sector in January, 2009 in contrast to the increase in employment during Oct-Dec, 2008 and also higher rate of unemployment in Automobile Sector. The month wise employment trends are presented in Table 1.2. Table 1.2 Trends in Average Employment Sl. No. Period % Rate of Decline 1 October, 2008 1.21 2 November, 2008 0.74 3 December, 2008 1.12 5 January, 2009 1.17 Source : Government of India, Ministry of Labour Employment Labour Bureau Chandigarh The economic slowdown is expected to adversely impact the quality of employment besides the quantity reflected by decline in employment. The quality aspect is measured in terms of decrease in average wages received by the employees. Hence information is also collected on the total 12 earnings of workers. The results of the survey reveal that the average monthly wages have also declined by 0.26 per cent in January 2009. The average monthly decline during Oct-Dec, 2008 was 3.45 per cent. During the current survey the average monthly wages for direct and contract workers are also collected. The findings of the survey reveal that average monthly decline in the wages are 0.25 per cent for direct category of workers and 0.63 per cent for contract workers in January, 2009. The information is presented in Table 1.3. Table 1.3 Percentage change in Average Monthly Earnings SR.No. Period Percentage Change 1 October, 2008 1.74 2 November, 2008 -11.43 3 December, 2008 -0.5 4 January, 2009 -0.26 Source : Government of India, Ministry of Labour Employment Labour Bureau Chandigarh Table 1.4 Month Wise Estimated Job Loss Sl.No. PeriodEstimated Job Cumulative Job LossLoss 1 October, 2008 1,96,092 1,96,092 2 November, 2008 1,17,550 3,13,642 3 December, 2008 1,77,222 4,90,864 4 January, 2009 98,156 5,89,020 Source : Government of India, Ministry of Labour Employment Labour Bureau Chandigarh It needs to be noted that the rate of decline in employment in January, 2009 is higher than average monthly rate of the previous quarter, whereas the total loss of employment estimated is less than the previous monthly estimates. In this recession period HR play an important role to make the industry sustain and the entire economy flourish. This paper expresses the challenges of human resource management in the global recession situation. The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. The most important challenge in recession period that is revolutionizing the Human Resource systems to identify, maintains, develop and utilize talents across the organization to their fullest capacities. The management of Human Resources has now assumed strategic importance in the achievement of organizational growth and excellence. As globalization advances and we move into the information age, organizations need to adapt to the changes in technology and the changing issues in management of people. II. The emerging challenges of Human Resource Management in the times global recession†¦Ã¢â‚¬ ¦ The role of the Human Resource Manager is evolving with the change in competitive market environment and the realization that Human Resource Management must play a more strategic role in the success of an organization. Organizations that do not put their emphasis on attracting and retaining talents may find themselves in dire consequences, as their competitors may be outplaying them in the strategic employment of their human resources. With the increase in competition, locally or globally, organizations must become more adaptable, resilient, agile, and customer-focused to succeed. And within this change in environment, the HR professional has to evolve to become a strategic partner, an employee sponsor or advocate, and a change mentor within the organization. In order to succeed, HR must be a business driven function with a thorough understanding of the organizations big picture and be able to influence key decisions and policies. In general, the focus of todays HR Manager is on strategic personnel retention and talents development. HR professionals will be coaches, counselors, mentors, and succession planners to help motivate organizations members and their loyalty. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity. These paper discusses few important challenges of HRM due to recession and i.e†¦ Problem of Recruitment. Managing downsizing program appropriately. Talent management. Stress Management. The Return on Recognition in a Recession. 1. Recruitment and Recession. Recruitment industry is going through a tough time at this moment, the numbers have dropped drastically for the biggies and even recruitment agencies are battling for survival. Synergy Solutions provides recruitment services to companies in India and in US, the biggest challenge today is to find newer and better ways to add value to the clients. There is a need to find innovative ways to improve recruitment ROI for the client. First things first, the base idea is not to wait and find ways to weather the storm but to take proactive measures to tide the wave. The world is changing very quickly to combat recession and its about time we translate our thinking into action or else we will be late. The main reason being the companies who are hiring have recently made drastic cuts in their recruiting budget and are in the process of streamlining their side of the story. Companies (clients) has to demand greater accountability from recruitment agencies and focus on improving their recruitment ROI. Recruitment agencies / staffing companies who are agile in their operation and can quickly adapt to the changing environment will emerge victorious at the end of this recessionary period. Few areas where placement agencies should focus: * Closely monitoring the way each industry is changing in current times and the way companies within the industries are changing their hiring strategy. * Build stronger relationship with clients thereby working closely with your contact points in the company to get clarity on their internal hiring plans and prepare accordingly. This will also help protect your share in the pie from your competitors. * Clients will use this recession to re-negotiating the recruitment contracts with recruitment agencies. Since numbers are falling every day recruitment agencies will be concerned about their cash flow situation and as a result will have no option but to be forced to negotiate their existing contract. New client would want to start the relation on the terms advantageous to them, that means lower rates and tougher terms. * Look out for companies who are brave and would consider recession as the right time to recruit good quality talent at the right price. These are usually multinationals with deep pockets and would want to drive competitive advantage home. Be smart to attack these companies. * Train your recruiters to be tactically smart and agile in their actions. During the boom there were a lot of open positions and even more candidates available so the match making activity was comparatively easy and largely govern by the good sentiments in the market. During tougher times recruiters need to be smart and get themselves deeper into the fit gap process and ensure win win situation for the client and the candidate * Use of technology and social media applications to hunt better profiles as compared to job boards. Sites like LinkedIn, Facebook, Twitter and other social and business networking sites are fast becoming every recruiters trump card. Lot of head hunting can happen over these networking sites. * If your salary component are on the higher side and you foresee that its going to be difficult to sustain then take adequate action now try and offer a mix of lower fixed and higher variable with an assurance that salaries will get back to normal once the market stabilizes. 2. Managing downsizing appropriately. Virtually every country has to face the impact of a global economic downturn which can be in the form of recession, slowdown, depression or growth recession. When a downturn occurs, the organizations have to suffer heavy losses and bear the brunt of slow revenue generation. During this period, there is also less spending by the consumers, less investment by the investors and more of savings. Even the sectors who have been thriving in the boom period try to save more. Numerous causes can be attributed to the economic downturn and one of which affects the business is lack of skilled manpower. Other reasons could be the increasing population, lack of food supply, climatic condition, and entry of substitutes, inapt investments and technological changes. The shift in supply and demand hugely affects the entire business cycle. There can be acute shortage of cash supply leading to less or poor investments. All of this may ultimately affect the morale of the employees which should be a concern to every organization. Also, the decline in growth and decrease in profits certainly calls for certain top-of-the-line strategies to make adjustments to serve organizational needs. Managing the teams or human capital at this juncture is a Herculean task. So, a manager should devise certain strategies in order to manage teams during down turns. Downsizing during this period is certainly not a good option because if there are merits of laying off of employees, there are many demerits too. What should a manager do to manage teams or workforce? * Hold special meetings: During this unsafe situation, the organizations top most head or CEO should brief the meeting where the main subject should be the employees and their concern. If the head of any organization feels confidant, the whole organization feels confidant. Alternatively, middle-level managers and senior managers can conduct private meetings where they can console their subordinates. Also, give your workforce to ask questions and express their feelings regarding the business insecurity. * Motivate the employees: The key to managing and retaining the employees during downturn is motivation. Apart from the special meetings being conducted, a manager should regularly be attending to their problems and constantly trigger the employees to have good mood. * Offering challenging assignments and opportunities: If you offer your teams the challenging assignments, they spirits will be lifted and they will manage to survive even in bad times. * Explain to them the importance of their existence in jobs: There is no use crying over the spoilt milk, just like economy turning to a bad shape and business showing downfall. Its better that you discuss about the new projects and subsequently tell them what role they have to play. How their productivity can make the organization grow, explain to them. * Initiate change by identifying key people: There are few employees who are influencers and can bring about a lot of change in the organization. If these employees are given the right message to convince other team workers, the organization can move in the right direction. * Identify the achievers and reward them: Even during this period, you should give your employees the bonuses and increments if possible. In this way, they will always remain motivated and perform. All the above points are crucial to letting the organization grow to greater heights and following the above strategies will promote the general health of the organization despite economic downturns. 3. Talent Scenario during Recession The law of demand and supply mercilessly applies to human resources, also. During the economic downturn, companies were able to downsize by getting rid of redundant work force and dead wood. They also restructured the employee compensation (mostly by decreasing) to stave off financial losses. Only those employees were retained who proved their worth. The employees had to accept all kinds of compensation-related compromises while maintaining the same or even higher level of efficiency and productivity. They could thus survive the financial tsunami. These survivors got the opportunity to handle a variety of tasks that further sharpened their skills and made them multi-skilled. Thus, overall quality of talent has increased. At the same time, those who were out of job lost this opportunity to hone their skills in a new challenging environment. Adding to our woes, slashing of training and development budgets has led to a depletion of the number of skilled employees within the companies. Such steps from companies have created an altogether tricky scenario: The quality of talent within the companies has increased (raising the bar of the talent), while the quality of skills available in job market has dwindled. Now, recruiters can hire the required quality talent not from outside but from inside their competitors workplace. While many have forgotten the term â€Å"War for Talent†, the phenomenon is slowly re-emerging. â€Å"A study by Accenture has found that more than two-thirds of executives are now deeply concerned about not being able to recruit and retain the best talent. In todays global and highly competitive economy, the war for talent is now global, not local. The survey of more than 850 top executives from the U.S, UK, Italy, France, Germany, Spain, Japan and China found worries about talent management were growing, with 67 per cent this year putting it second only behind competition as the key threat, up from 60 per cent last year.† It may be worth noting that great companies such as Infosys, responded to the downturn by investing more in training. Instead of fearing of financial losses, these corporate focused on improving the quality of their employees skills. And the effect is visible in their financial results. Member of Infosys board of directors and head of HRD and Education and Research, T V Mohandas Pai said, â€Å"In response to the economic crisis, we had stepped up our investment in training. This has made us more competitive in fulfilling clients needs today.†The demand for talent in the market will never cease. Retention will always be a challenge. New Definition of Talent While war for talent continues, the bar for talent also goes up. Old skills and competencies may not work. Companies now need salesman who does not sell products but does sell solutions; production managers no longer control the operations, they are expected to innovate and improve productivity; and quality managers need to study competitive products with more zeal and help develop better products and services. The employers expectations have changed and are set to grow: Highly Productive: The talented employees need to be highly productive. They should deliver much more than they are compensated for. If that happens, employers are willing to give larger share to them. Multi-Skilled: Companies have discovered that one way to decrease recruitment cost is to have multi-skilled employees. Multi-skilled employees help reduce manpower dependence, and the overall sum of all the multi-skilled employees is greater than the same number of equal number of specialist. Self-Managed and Self-Motivated: Self-managed and self-motivated employees reduce managerial efforts. This helps organizations to have less number of managers. Innovative and Out-of-the-Box thinkers: As the rules of the business change and competition increases, the existing solutions no longer work. Companies need employees who constantly infuse new ideas and provide out-of-the-box solutions to meet a customer need that seems to have no end. The Key to Retain Talent Lies in HR Policies and Practices As organizations increase their expectations from employees, employers too have to significantly change the way they manage the talent. Talented employees continuously need new challenges and goals they can achieve, and a continuous supply of information and resources they can use to solve business problems. And needless to say, they will in return demand more lucrative and effective compensations, a great work culture and friendly HR policies. â€Å"Even during the recession, companies are reviewing and revising their leadership development programs. Survey after survey indicates that people who quit their jobs do so because of their relationship with the boss, not because of dissatisfaction with their job. A recession is a perfect time to take a hard look at leadership style and training to increase employee satisfaction with management.† Five Important Talent Retention Factors Lets us consider five factors that can help organizations retain talent to meet the client and business requirements in post-recession era: Clear Goals, Targets and Expectations: You need to tell them what exactly you expect from employees and what should they do to meet these expectations. A talented mind without a direction is most likely to pull the plug than a mediocre or a dead wood. Balanced Work Environment: Talented employees have huge positive energy and they exhaust this energy to meet the deadlines. But often they need time to re-energize themselves. Organizations that want to retain talented employees need to provide a positive environment that allows them to re-energize themselves more often. Track Performance Goals and Provide Analysis: Innovators and hard workers

A good and simple example is given by Fromlet

One fundamental notion in the finance and economic fields with regards to decision making has always been based on the underlying assumption that individuals or decision making agents are rational and objective. However, in many cases, rationalistic explanations have failed to answer major financial occurrences in the past.A good and simple example is given by Fromlet (2001), In 2001 the Swedish currency – the crown- was seriously undervalued in the foreign exchange market despite the fact that Swedish economy enjoyed a good economic growth record, had the lowest inflation rate among the 12 European Monetary union members, surplus government budget and a good, positive balance of payment position. Thus in this case all the rationalistic theories could not adequately explain the weakening of the crown given the fact that all economic indicators showed that it should be stronger.According to many theorists, even though realism cannot be attained, a good theoretical model should include mechanisms that help in relaxing as much assumptions as possible to attain a near realistic empirically based theory. Most of the traditional and neoclassical financial theory such as the capital asset pricing model (CAPM) and expected utility theory (EUT) are based on the unrealistic assumptions that can be explained as:†¢ Representative agents and players in the financial market are rational therefore base their decisions with the objective of maximizing wealth therefore asset pricing reflect the real value of the asset at any particular time (Thaler, 1999). †¢ The market given time will settle on an equilibrium point and that the equilibrium price reflects the real value of the asset that can rationally be explained using traditional theories (Ideal or rationally explained equilibrium) (Thaler, 1999).Behavioral finance is a relatively new field of study that has made tremendous progress in the attempt to answer these unrealistic assumptions and offer an alternat ive explanation of the financial market. Behavioral finance holds that the market is unrealistic due to the human element; therefore, in evaluation of financial market decision making and market condition, financial theories should recognize the role of human behavior in financial assets price determination.The composition of financial investors is diverse from fathers and mothers, household, spouses, students, businessmen, government leaders etc. are all decision makers in the financial market thus the assumption of rationality as provided by these theories is unrealistic (Ritter, 2003). These paper is an in depth evaluation of the behavioral theory and its application in the financial market. The paper will look at the strength and weaknesses of behavioral finance in an attempt to show its applicability as a tool in the financial market.Definition and description of behavioral finance. Behavioral finance is an empirically based theory, Behavioral finance theorists argue that to un derstand the performance and decision making in market, it important to integrate psychological and behavioral variables and classical financial theories in decision making and market atmosphere. According to this theory, the market is sometimes information inefficient and participants do not often make decision rationally.Behavioral finance uses to main concepts namely cognitive psychology and limits to arbitrage. Cognitive psychology as applied in behavioral finance focuses on behavioral factors influencing investor’s decision making or how people think; it postulates that investors make systematic errors in the manner they think and this contributes to irrationality in decision making. For instance, some investors might be overconfident and end up loosing due making investment decision based on this behavioral trait.This cognitive biases lead to irrational decision and can explain the weaknesses of classical financial theories with regards to why the market fails to attain equilibrium or conceptual expectation of rational investor decision in the financial market. (Ritter, 2003). Cognitive biases. Cognitive psychologists hold that there several cognitive biases that affect investor’s decisions in the market, as mentioned this biases lead investors to make systematic errors hence explaining irrationality in the financial market.This paper will highlight the cognitive biases by combining some of the documented behavioral patterns in arguing the case and behavior finance model case in the financial market it should be noted that psychological patterns and behavior categories as presented are interlinked to the extent that an individual can make decisions due to several behavioral patterns (Fromlet, 2001): 1/n Heuristics or rule of thumb. Heuristics or the rule of thumb is one common behavioral technique applied in decision making.According to the definition (as quoted in Fromlet, 2001), â€Å" heuristic means ‘use of experience and practic al efforts to answer questions or to improve performance. † Heuristics mean fast, selective interpretation of information, determined to a high extent by intuition–taking into account that the conclusions may not give the desired results because of the velocity and/or the incompleteness in the decision-making. †This technique makes it easier for investor’s since information in the market usually spreads faster, changes often and has become more complicated to interpret. Therefore, given various options many investors use the 1/n rule by spreading their funds equally or proportionately on the available options since it is easier than choosing the rational option based on the information hence introducing irrationality in the market in terms of decision making.A good example is if in a given financial market six different economic indicators are published, economists and investors have to assimilate and use the information as fast as they can to take advantag e of the market, some result to heuristic approach. This sometimes leads to suboptimal results and explains the difference between the ideal classical financial market of a rational investor and the real world. (Fromlet, 2001 and Ritter, 2003).Thaler (1999), argue that from empirical evidence collected in their research most individuals investing for retirement have little or no knowledge of the financial market hence uses the rule of thumb or 1/n heuristic approach to make decisions on where to put there retirement savings. Overconfidence and preference for certain information. Another pattern that manifests itself and lead to irrationality in decision making in the financial market is overconfidence.Ritter (2003), notes that entrepreneurs tend to be overconfident and hence invest too much in stocks or options that they are familiar with. This can be termed as an irrational tendency to the extent that it leads overconfident entrepreneurs tend to limit their options by not diversify ing their portfolio hence irrational since they tie up their assets (for example real estates) to the company they are familiar with partly due to the fact that they would feel in control of local familiar stocks compared to high returns stocks that are outside their control, this is referred to as control illusions.A good example world over is the fact that most workers tend to invest too much in the company they work for and this has led to loss of entire savings to many of the companies in the event of insolvency (see Ritter, 2003 pg. 434 for examples). Furthermore, it was noted that generally, men are more overconfident than women and this behavior extends to investment decisions. It was found out in a research by Bernard and Odeon (2001 as quoted in Ritter 2003) that the more men on average perform worse than women and this is partly attributed to the fact that they are overconfident than women.

The End of Essay Topics for Medea

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