...General discussion of time allocation and foregone earnings -----Article review of A Theory of the Allocation of Time Yumeng Han 13132283 Introduction Time is the most precious resource during the producing processes and the daily life, it is a vector which cannot be regenerated or repeated. What’s more, from the economic point of view, Klein (2002) indicated that the technology revolution improved the productive forces and efficiency, advancement of medicine also extended the average length of life of people, while the basic unit of time itself would not change at all. Under this situation, economists and other experts are always working on the strategies of the allocation of time for single person, families and organizations. Based on Gary Becker’s work in 1965, this article will talk about several subjects related to the time allocation. Firstly, it will focus on the foregone earnings, which can be regard as the reason of allocating the time. Secondly, this essay will give a short discussion of the theory of the allocation of time. In the last part, it will present some arguments of the limitations about the theory and some other economic models. Foregone Earnings In the reality, during a constant period of time, if people attempt to be able to do something, they always need to give up the chance of doing other things, and the differences between the benefits brought by the two groups of things could be called as the foregone earnings or the opportunity costs. As Investopedia...
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...Early life Prahalad was the ninth of eleven children born in 1941 in to a Kannada speaking family in Coimbatore, Tamil Nadu. His father was a well-known Sanskrit scholar and judge in Chennai[citation needed]. At 19, he joined Union Carbide, he was recruited by the manager of the local Union Carbide battery plant after completing his B.Sc degree in Physics from Loyola College, Chennai, part of the University of Madras. He worked there for four years. Prahalad called his Union Carbide experience a major inflection point in his life. Four years later, he did his post graduate work in management at the Indian Institute of Management Ahmedabad. At Harvard Business School, Prahalad wrote a doctoral thesis on multinational management in just two and a half years, graduating with a D.B.A. degree in 1975.[4] [edit] Professorship and teaching After graduating from Harvard, Prahalad returned to his master's degree alma mater, the Indian Institute of Management Ahmedabad. But he soon returned to the United States, when in 1977, he was hired by the Stephen M. Ross School of Business at the University of Michigan, where he advanced to the top tenured appointment as a full professor. In 2005, Prahalad earned the university's highest distinction, Distinguished University Professor. On April 16, 2010, Prahalad died of a previously undiagnosed lung illness in San Diego, California.[2] He was sixty nine years old when he passed away but he left a large body of work behind. C.K. Prahalad...
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...on the virtues of punctuality and honesty are capital too. In the true sense, they improve health, raise earnings, or add to a person’s appreciation of literature over a lifetime. Consequently, it is fully in keeping with the capital concept as traditionally defined to say that expenditures on education, training, and medical care, etc., are investment in capital. These are not simply costs but investment with valuable returns that can be calculated. Uluslararası Sosyal Arastırmalar Dergisi The Journal of International Social Research Volume 2 / 8 Summer 2009 The Relationship between Human Capital and Firm Performance Human capital is getting wider attention with increasing globalization and also the saturation of the job market due to the recent downturn in the various economies of the world. Developed and developing countries put emphases on a more human capital development towards accelerating the economic growth by devoting necessary time and efforts. Thus human capital development is one of the fundamental solutions to enter the international arena....
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...JULY-AUGUST BR 1 996 STRATEGY AS REVOLUTION by Gary Hamel Let's admit it. Corporations around the world are reaehing the limits of incrementalism. Squeezing another penny out of costs, getting a produet to market a few weeks earlier, responding to customers' inquiries a little bit faster, ratcheting quality up one more notch, capturing another point of market share-those are the obsessions of managers today. But pursuing incremental improvements while rivals reinvent the industry is like fiddling while Rome burns. Look at any industry and you will see three kinds of companies. First are the rule makers, the incumbents that built the industry. IBM, CBS, United Airlines, Merrill Lynch, Sears, Coca-Cola, and the like are the creators and protectors of industrial orthodoxy. They are the oligarchy. Next are the rule takers, the companies that pay homage to the industrial "lords." Fujitsu, ABC, U.S. Air, Smith Barney, J.C. Penney, and numerous others are those peasants. Their life is hard. Imagine working at Fujitsu for 30 years trying to eatch IBM in the mainframe business, or being McDonnell Douglas to Boeing, or Avis to Hertz. We Try Harder may be a great advertising slogan, but it's depressingly futile as a strategy. What good will it do to work harder to follow the rules when some eomGary Hamel is a visiting professor of strategy and international management at the London Business School in London, England, and chairman of Strategos. an international consulting firm...
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...REVIEW ON COMPETING FOR THE FUTURE BY GARY HAMEL AND C K PRAHALAD This book is providing tools and concepts need to focus on technically produced with strategic planning in order to achieve the future success for a company as it has described the method of reinvention to satisfy corporate needs to be achieved through experience and discovery in the critical situation where company’s were fallen flat by the lack of integration and to have a fresh change that make the employee to work. It also focuses on combining companies and corporate visions for function operations. This book was very insightful in the area of teaching senior and top management skills and qualities that need to be possessed to be a successful company. The core competencies are not product specific but some exceeding resources and patience of single business unit create more options in the market. Business needs involving continuous leverage of core competencies with major contribution at all level of management for building and nurturing sophisticated, and more positive, and strategic architecture as a high-level blueprint for the reconfiguring of the interface with customers. As strategic intent is strategic architecture’s capstone but it’s an ambitious and compelling strategic intent that provides the emotional and intellectual energy for the journey. They are trying to create ambitious aspiration for the future and all in its importance. Gary Hamel and CK Prahalad emphasize that companies are focusing...
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...the lack of integration and to have a fresh change that make the employee to work. It also focuses on combining companies and corporate visions for function operations. This book was very insightful in the area of teaching senior and top management skills and qualities that need to be possessed to be a successful company. The core competencies are not product specific but some exceeding resources and patience of single business unit create more options in the market. Business needs involving continuous leverage of core competencies with major contribution at all level of management for building and nurturing sophisticated, and more positive, and strategic architecture as a high-level blueprint for the reconfiguring of the interface with customers. As strategic intent is strategic architecture’s capstone but it’s an ambitious and compelling strategic intent that provides the emotional and intellectual energy for the journey. They are trying to create ambitious aspiration for the future and all in its importance. Gary Hamel and CK Prahalad emphasize that companies are focusing now and not concerned about the future companies to come. Companies were in risky situation if they do not change their ways and adapt to popular ways of the industry. Strategizing is the key to keeping customers and staying loyal to their needs. Industries are in need of breakthrough leaders and workers who will put in the work to drive a company to expand. * By reading this book one can think about...
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...": U.S. Show/Hide Brasil BR Canada CA Deutschland DE España ES France FR Ελλάδα (Greece) GR India IN Italia IT 日本 (Japan) JP 한국 (Korea) KR Maghreb MG United Kingdom UK United States US Newsletters Top of Form Get EntertainmentNewsletters Email address Enter Email Address Bottom of Form Huffington Post Search Top of Form Search The Huffington Post Enter Search Terms Submit Search Bottom of Form iOS app Android app More Desktop Alerts Log in Create Account $USERNAME Desktop Notifications Profile Settings Logout FRONT PAGE Politics The Levy Breaks: Democrats Rage Against Obama Over Wall Street Giveaway 0 The Speech That Could Make Elizabeth Warren the Next President of the United States 0 Lawsuit Settled Involving Ferguson Officer Who Allegedly Choked, Hog-Tied A 12-Year-Old 424 GOP Senator Mansplains Democracy To Elizabeth Warren 0 Obama's New Triangulation Strategy Has Democrats On Edge 654 Go to Politics More in Politics Pollster Politics Blog Off The Bus Election Maps Pollster You Might Also Like WorldPost Green Black Voices Latino Voices Gay Voices Business Black-White Wealth Gap Has Reached A 24-Year High 58 RadioShack Planning More Store Closures, Layoffs To Avoid Collapse 28 'Eat More Kale' Guy Beats Chick-fil-A 28 Hurry Up! Big Obamacare Deadline Coming Monday 134 For 'The Interview,' Even Negative Publicity (Like A Massive Sony Hack) Is Good Publicity 11 Go to Business More...
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...Human Resources Management Homework Week 1 Chapter 1 Question 1 I do think people are an organization's most valuable assets because people bring human capital to the organization. One would think that nowadays in times with so much technology, we would not need people as much in a company, but the truth is that without people a company or organization would not be able to succeed. Human capital is one of the most valuable assets a company could have. Having good employees and investing in them will ensure a company will keep growing and succeeding. The primary reason for the need of people in an organization is that, people are the fuel of an organization to run, maintaining the organization's structure and so forth. Without people, an organization will not exist and will never accomplish their function. Then, numerous grounds can be linked to the importance of human capital. (Becker) I also think that cultural diversity could be an asset to an organization because each person brings unique experiences and perceptions. Each employee in a diverse workplace possesses unique strengths, knowledge and skills derived from their culture, and when managed properly it can influence the strengths and complement the weakness of each worker to make a greater workforce. Chapter 2 Question 2 Some of the forces that influence a firm's strategy are the company's rival, new entrants, substitutes, and supplies. The factors...
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...Introduction (5-15 seconds) (Attention Getter) Aristotle, a Greek Philosopher, once said “Happiness is the meaning and the purpose of life, the whole aim and end of human existence.” None of us know when our time is up on this earth. This is why we must live each day to the fullest. (Preview) Today I'm going to share with you some things things I would like to do before my time is up on Earth. Body (2-3 min.) I. Plan a trip to Chicago A. Tourists Attractions Navy Pier, Lincoln Park Zoo B. Go see a Chicago Cubs game Grew up loving Baseball and the Cubs C. Go see a Chicago Blackhawks game (Transition: The second thing I would like to do is to travel to Scotland.) II. Travel to Scotland with my family A. Play golf at St. Andrews with my dad Love to play golf, this is known as the home of Golf B. Tourists Attractions Castles, Loch Ness C. Restaurants to visit (Transition: And last, I'd like to go to all 4 Major Golf Tournaments on the PGA Tour.) III. Go to all 4 PGA Tour Majors A. The Masters with dad Augusta, GA, tournament played here every year B. U.S. Open Our national Championship for Golf C. The OPEN Championship (Europe) D. PGA Championship Conclusion (5-10 seconds) In closing, it's hard coming up with the exact things you want to do before you leave this planet. With that being said, I've shared with you today some things that I would love to...
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...The Executioner's Song by Norman Mailer portrays the execution of Gary Gilmore and the events leading up to it. Mailer is found to notable for his portrayal of Gilmore in The Executioner’s Song through the way he tells the storyline behind the murders Gilmore had committed. The Executioner’s Song was primarily made to represent the national debate over the death sentence. Mailer romanticizes Gilmore life, decisions and death by using several rhetorical strategies to apply Gilmore's story to the audience. Mailer novelized the story of Gary Gilmore as the first person to be legally executed in the United States following the reinstatement of the death penalty in 1976 by the U.S. Supreme Court. Gilmores execution occurred in Utah which is centered...
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...Have you ever been lost in the Canadian Wilderness because your pilot had heart attack so he died, so you had to take over and crashed your Cessna 406 Bush Plane into to an “L” shaped lake? The answer is probably going to be no but you might have been lost in the wilderness before? The character from the book, Hatchet by Gary Paulsen, Brian Robeson has experienced the first experience and the second experience except more of the first experience. He was trapped in the woods for 54 days with originally only starting with himself and his hatchet. Brian was able to do this with certain things called Aha Moments. These moments were when he realized what he needed to do, what his mistake was, and/or how to do something. Overall, I believe this is what allowed him to live so long without dying....
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...The story Hatchet by Gary Paulsen and the movie A Cry in the Wild are about a resourceful boy Brian Robeson whose parents are divorced. He has to take a private plane to go see his dad. While he is on the plane, the pilot has a heart attack and dies suddenly. Brian overcomes the trauma of flying the plane on his own and even landing it because the plane runs out of gas, and he has to land the plane in the wilderness by force. While he is in the woods he has to survive after many animal encounters and the struggle of finding food and shelter. He also has to stay positive, as he was his best asset. The novel Hatchet and the movie A Cry in the Wild are remarkably different due to the depiction of Brian’s character in the novel versus the movie. Brian's prodigious best friend Terry was in almost every one of his flashback/memories. In the movie, fascinating Terry was not in one of them; Brian did not even mention him. He also had a flashback about the secret of when he saw his mom and another man in the woods about to kiss, but then he interrupted and she stopped to see who was there and saw him. In the novel, he had the...
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...Anh Nguyen Professor Wegley ENG 102 18 January 2014 The Happiness Store: A Place to be Happy in Less Mundane Ways Gary Larson has brought laughter to many people by his popular long-running comic called The Far Side. In one of these cartoon series, the character names Crawley was told by his friends: “You cannot buy happiness”. However, “Mr. Crawley surmised that they just didn’t know where the store was” (Figure 1). Humorously, Mr. Crawley’s conclusion about the reason why his friends could never buy happiness may be comical and eccentric, but it conveys Larson’s message about a common and reflective argument in our life as he identifies people’s different aspects of happiness and ways to accomplish it. Is simply painted in black and white with captions at the bottom, the single rectangular panel makes it easier for the readers to recognize Larson’s typical painting style and his message throughout the comic. Looking at the panel, what impresses viewers at the first glance is the “Happiness” store with a remarkable, large signboard on the corner of a crowded street. On the pane of glass, there are several flyers for advertisement such as “Complete your life”. Besides, that store selling happiness is the place which Mr. Crawley’s friends – the characters in the comic did not know. Thus, they were unable to purchase happiness. The hilarious point is that “happiness” is an abstract, ungraspable definition; how come there is a store selling it? Nevertheless...
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...Fan Bases Fans are important for motivating their team and making it hard for opponents to play well, whether they are bandwagon fans, completely berserk, or almost non-existent. Loud, lively fans motivate their players to play better and make it a disadvantage for the opponents to play them. The Cameron Crazies of Duke Basketball are some of the most dedicated fans in basketball. For rivalry games, over a thousand Cameron Crazies camp for three months in Krzyzewskiville, or the makeshift city the fans make outside Cameron Indoor Stadium, just to get a spot for the game. They go to every game prepared with chants and have even made cheerleaders of the opposing team cry. Some television networks had to turn off the sound temporarily during the game because of the chants. Next, bandwagon fans only root for their favorite team when they are on a winning streak or have won a championship. After winning a NBA Championship in 2012, the Miami Heat was notorious for having the most bandwagon fans. It was especially obvious when fans walked out of Game Six in the 2013 NBA Finals a few minutes early and missed watching the Heat comeback for the win. With the 2013 NBA Championship win, they have the most bandwagon fans in basketball. Finally, some fans almost never attend any games. The Eastern Michigan Eagles have the lowest attendance in college football with the average of a sixth of the stadium being filled each game. More people show up to watch big time programs like LSU practice...
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...The existing collective bargaining agreement between the National Hockey League and its players expired on September 15, 2004. Each side had failed to negotiate a new collective bargaining agreement. The NHL Commissioner Gary Bettman locked out the players by cancelling the season. The key issues at hand were the league’s demand for a salary cap and linking the salaries to the league’s revenues. The NHL Players did not like these demands. The NHL is a popular past time for both the Americans and the Canadians. Both the NHL & players should have been able to reach an agreement earlier in the year. This lockdown lasted over five months, and then the season was cancelled. Another reason that both sides should have agreed is that NHL is a profit making business. The hockey players make the money for playing a sport that they love and the NHL is providing a service that the Americans and the Canadians love to watch. There were many barriers in reaching a negotiated agreement. These barriers delayed the progress of a negotiation and it negatively affected its chances of any type of success. The personalities of Bettman and Goodenow were adversarial tactical. There was a lack of trust between Bettman and Goodenow. There were even communication barriers as well. Bettman and Goodenow should be the ones to anticipate and overcome any barriers as they represented both sides. Goodenow and Bettman came into their positions in the early 1990’s. Both men had performed well in...
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