...Daria Sociology B2 Human Capital Theory What is human capital? According Schultz (1993), the term “human capital” has been defined as a key element in improving a firm assets and employees in order to increase productive as well as sustain competitive advantage. To sustain competitiveness in the organization human capital becomes an instrument used to increase productivity. The theory of human capital is rooted from the field of macroeconomic development theory (Schultz, 1993). Becker’s (1993) classic book, Human Capital: A Theoretical and Empirical Analysis with special reference to education, illustrates this domain. Becker argues that there are different kinds of capitals that include schooling, a computer training course, expenditures on medical care. And in fact, lectures 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...
Words: 534 - Pages: 3
...DIPLOMA THESIS Department: Strategie- und Unternehmensökonomik University of Zurich Human Resource Management Professor Dr. Bruno Staffelbach Supervising tutor: Dorothea Brunner Subject area: BWL I Subject: Human Resource Management Author: Mylene Perez Schüracherstr. 14a, 8306 Brüttisellen myleneperez82@yahoo.de Student ID Number: 02-728-285 Field of Study: BWL (Business Administration) Number of Semester: 10 Brüttisellen, 18.06.2008 Turnover Intent ABSTRACT Voluntary employee turnovers incur significant cost for an organization. Thus it is important to identify turnover intents as early as possible in order to enable planners to help implement courses of action. Within the scope of this diploma thesis a review of literature on turnover intent is offered. Initially the importance of the phenomenon is established and exact definitions of the subject area are presented. Subsequently the potentially critical impact of turnover behavior on organizational effectiveness is discussed. Several theoretical concepts that explain the occurrence of the turnover intent, and five key models that shaped the research on turnover, are presented and partially critiqued. This study also analyzes the effect of various factors on turnover intent using data from the HR-Barometers 2007. These factors were categorized into psychological, economical and demographic determinants, as well as moderating factors. The results revealed that the psychological determinants...
Words: 17878 - Pages: 72
...178.703 Assignment 1 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...
Words: 2401 - Pages: 10
...Stanley Becker (December 2, 1930 – May 3, 2014)[1] was an American economist. He was professor of economics and sociology at the University of Chicago and at the Booth School of Business. He made important contributions to the family economics branch of economics. Neoclassical analysis of family within the family economics is also called new home economics. He was awarded the Nobel Memorial Prize in Economic Sciences in 1992 and received the United States Presidential Medal of Freedom in 2007.[2] He was a Rose-Marie and Jack R. Anderson senior fellow at the conservative[3] Hoover Institution, located at Stanford University. Becker was one of the first economists to branch into what were traditionally considered topics belonging to sociology, including racial discrimination, crime, family organization, and drug addiction (see rational addiction). He was known for arguing that many different types of human behavior can be seen as rational and utility maximizing. His approach included altruistic behavior of human behavior by defining individuals' utility appropriately. He was also among the foremost exponents of the study of human capital. Becker was also credited with the "rotten kid theorem." Born to a Jewish family[4] in Pottsville, Pennsylvania, Becker earned a B.A. at Princeton University in 1951, and a Ph.D. at the University of Chicago in 1955 with thesis titled The Economics of Racial Discrimination.[5] At Chicago, Becker was influenced by Milton Friedman, whom Becker called...
Words: 1079 - Pages: 5
...1. Why does Daniel Gilbert, author of Stumbling on Happiness, say that experiences might bring more satisfaction than durable goods? Do you agree or disagree? Although happiness is not easily defined and it varies tremendously depending on who you ask, but most would agree that it is the degree of happiness with which one judges the overall quality of his or her life as favorable (Goldsmith, p. 7, 2013). So when Gilbert, author of Stumbling on Happiness, say that experiences might bring more satisfaction that durable goods, he is simply stating the fact that happiness is dependent the things you do in life and not objects. It is the time that you share with friends and family that makes life meaningful and that creates happiness. All the objects in the world that money can buy is meaningless when you don't have anyone to share it with. 2. Which fields of study have affected the study of management? Select one and explain its relevance to the field of resource management. Psychology is relevant to the field of resource management because it takes management involves a lot of communication and the two fields of psychology that are of particular relevance are social and cognitive psychology. Social psychology is the study of individual behavior within a group. It looks at the attitudes, problem solving skills, social influences, leaders and followers, and communication. Cognitive psychology explains the nature of human intelligence and how people think. Values, attitudes...
Words: 578 - Pages: 3
...What is Milton Friedman’s view on the social responsibility of business? Milton Friedman believes that business have a social responsibility to its shareholders, not anyone else, as long as all requirements by law are met. According to Friedman, a business' main goal is to make profit and win. Having an interest in anyone other than the stakeholders translates into stealing from the stakeholders, whom are the only ones with rightful claims and concerns. In the case of Weyco Inc., the company does not follow the social responsibility that Friedman talks about. By implementing the policy, Weyco is trying to dedicate their "social responsibility" to the health of its employees. Although they back it up with saying that the policy helps reduce health care costs, the company may lose valuable human resources due to the right to fire employees who do not wish to follow the policy, therefore, the company may suffer and shareholders could potentially affect the company's success. What are the six groups of stakeholders and what does it mean to say we should take account of the interests of stakeholders in business decisions? The six groups of stakeholders consists of the owners, employees, customers, suppliers, the industry, and the community. In order to take into account the interests of stakeholders in business decisions, a company must first know who are the stakeholders and why they have an interest in the company. Although most theorist such as Carr and Friedman, suggest that...
Words: 434 - Pages: 2
...EXECUTIVE SUMMARY FOR PROFESSIONAL AND PERSONAL GROWTH (BPPG) BERNARD A. LARTEY WALDEN UNIVERSITY JULY 14, 2016 EXECUTIVE SUMMARY From the topics of Dynamic Leadership courses the most helpful courses are the contents and assignments of Week 1, Week 2, Week 3, week 5, and week 6 respectively. Week 1 deliberated on the qualities of leaders: Planning, monitoring, controlling, evaluation, performance, policy formulation, decision making, motivation, recruiting, and implementation of decisions. This has helped me to better understand leadership role. Week 2 discussed that leaders and followers must complement each other for a successful business. The two parties combined to balance the mathematical equation of business for profitability and success. This course highlighted the fact in addition to the leadership role must be complimented by good qualities in order to command the following: Intelligence, time consciousness, humility and obedience, skillfulness of communication, competence, motivation, kindness, empathy, fairness, virtue, and mutual respect. These virtues must also reside in the followers. Impact: The leadership role specified in week 1 and the qualities expressed by week 2 have immensely reawakened my consciousness that leaderships is not about academic qualification alone, but demand good character from followers and leaders as well. Besides, I have assimilated good virtues and have since been practicing them, leading by example for my followers to follow. ...
Words: 1878 - Pages: 8
...Article Summary 2 Catherine White Wong, Francis Kh, Jackie Hk Keung, Newman Ml Lau, Douglas Ks Ng, Joanne Wy Chung, and Daniel Hk Chow. "Effects of Body Mass Index and Full Body Kinematics on Tennis Serve Speed." Journal of Human Kinetics 40 (2014): 21-28. SPORTDiscuss with Full Text. Web. 30 Oct. 2015. Purpose One of the most important shots in tennis is the serve. The importance of the serve lies in its accuracy and speed which directly relates to the outcome of winning tennis matches. This is one of the most difficult strokes in the game to master because it requires the use, and coordination of the trunk, upper and lower extremities all in a kinetic chain movement. Because it is reported as such a hard shot to hit, this study was done to investigate ways for improving the serve. This specific study added to existing data (Gordon and Depena 2006) by bringing in new information about ankle and hip discussion and analysis. There have been many studies to try to find the best way to hit the serve, but this study focuses on the anthropometric factors of the body and the body’s kinematics effect on the speed of the and to improve the training of athlete’s serves. (Wong, Keung, Lau, Chung, Chow, 2014) Methods The author used twelve male elite tennis players with major match play experience from the Hong Kong national tennis team. The players had a mean age of 20.5, 8.3 average years of training and 36.9 average hours of training per month. The BMI was determined by the formula...
Words: 1203 - Pages: 5
...Compliance Program / Annual Procedure Review Rule 206(4)-7 of the Investment Advisers Act creates a fiduciary responsibility for investment advisers to review annually their policies and procedures to determine their adequacy and the effectiveness of their implementation. As part of this review, all policies, procedures and responsibilities of an adviser must be reviewed, and the findings documented. The review should consider all factors that might suggest a need to revise the policies and procedures including any compliance matters that occurred during the year, any changes in the adviser’s or its affiliates business activities, or changes to applicable regulations. Reviews should be conducted by independent individuals (e.g., the department manager) not immediately responsible for implementation of a particular procedure. An overall review and approval of the adviser’s policies and procedures should be completed by the Chief Compliance Officer and should be submitted to the adviser’s Management Committee or Executive Officers for Final Action. |Procedure | |Summary & |Recommended |Reviewer & | |Completion Date & | |Reviewed |Findings |Conclusions |Change/Update |Date of Review |Review by CCO |Final Actions ...
Words: 276 - Pages: 2
...The Murder of Charles Becker Susi Robinson Brandman University Instructor: Prof Gilbertson 20 October 2012 Abstract Lt Charles Becker was a police officer in New York City during the late 19th century and early 20th century who extorted money from local brothels and gambling houses (“casinos”) located within what is now the New York Times Square. He did so all while working in internal affairs and receiving promotions. The action which led to making Lt Becker’s activities public was when a local gambler and bookmaker, “Beansie” Rosenthal got tired of Lt Becker harassing him and he went to the press and accused Lt Becker of extortion. Two days later, Mr. Rosenthal was killed. Lt Becker was accused of the murder and brought to trial and found guilty of first degree murder. The scandal surrounding him and his other illegal activities, led to his execution in the electric chair in New York’s Sing Sing Prison in 1915. He was the first police officer to be put to death for murder. In addition, the revelation of his activities led to the shock and acknowledgment of the public to the corrupt activities of police. To this day, he is the only New York City police officer put to death for murder. A. Life of Charles Becker Charles Becker was born to a German-American family in the village of Calicoon Center, Sullivan County, New York. He arrived in New York City in 1890 and went to work as a bouncer in a German beer hall...
Words: 1102 - Pages: 5
...compiler earlier than the actual class deadlines. This goal was set as one week earlier than the official due date of the class. Goal 2: Team will strive to stay in constant contact with team members as needed for support on the project. Goal 3: Team will try to meet at least once a week through conference call; default meeting of every Wednesday evening at 8 pm. These goals were made with a main goal of completing the group project ahead of schedule or on time. Each week the team would discuss any technical issues, questions, and upcoming due dates for section assignments and review. C1a. Achievement of Goals Our team did exceptionally well getting the sections we chose turned into the compiler on time. We were consistently ahead of schedule throughout the project despite several setbacks for many of the group members. Several group members had issues receiving email, opening files for review, and receiving phone messages. I believe that this allowed us to meet goal 2 in relation to support. All team members have been extremely helpful and supportive to each other. When someone ran into a problem everyone jumped in to help resolve the issue. On top of that we also encouraged each other and gave kudos to keep motivation high. The second goal was achieved. We met every Wednesday at 8 pm for conference and if a group member was not available, they notified the group of this and submitted any questions they had through email for the group to respond...
Words: 1665 - Pages: 7
...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 that usually influence a firm's competitive strategy vary, as mentioned above, but most of the time are changes in competition and customer demand. Competition will...
Words: 352 - Pages: 2
...– when submissions re-open, it will be a separate post) all the way back in the beginning of July; so I had felt that having that announcement + Discussion + Book Club would have left the front page looking a tad too bloated. But it seems the site had other ideas about how things should play out, so here we are. Better late than never, right? SO. The book that we’re going to talk about this month is very well-known; given that it’s almost twenty years old and spent a lot of time on the Best Seller list, many of you have probably heard of it already. However, it’s striking how well it’s held up and how relevant it remains – many of the scenarios the author details are still happening every single day. The Gift of Fear by Gavin de Becker is, obviously, about fear. Specifically, how to identify when your fear is actually your intuition trying to warn you of incoming danger. Those of you who are fans of detective novels, games, and TV shows like Sherlock, Ace Attorney, etc, are probably already familiar with the idea that our unconscious mind notices clues and cues...
Words: 1247 - Pages: 5
...Riverside Casino and Golf Resort / Stacy Benson Topic Title Performance Reviews NO. This title won’t work. What about performance reviews? If you were doing a simple research paper you could write about performance reviews based on research alone. In this Sr Paper you must determine the state of the art based on your Literature Review. Then you will give the background of the problem and discuss it. This must all lead to two Courses of Action (COAs; solutions) that are tied to your title and problem. You need a “product” such as a process, a plan, a strategy, a program – something that can be recommended and implemented. Problem Statement (if not finalized post a draft – focus on the "pain.") The problem is that after initial training employees are not being reviewed for current performance. Suggest that after this initial statement you add something more about the problem. Brief Topic Overview The casino is experiencing a high turnover rate of employees because after their initial training they are put on the floor without any further review. In the handbook employees are supposed to have a review after 90 days but they are not being implemented. This leaves the casino with under qualified employees that eventually terminate their employment due to not feeling able to meet the high demands. The solution to this problem, if it is the problem, is simple. Just IMPLEMENT PERFORMANCE REVIEWS. You can see...
Words: 640 - Pages: 3
...Peer Evaluation for MKT 420 Your Name: KYRIA AHO Fill in the blanks for each team member (but not yourself) as if you were writing an evaluation or recommendation for that person. ONLY ONE TEAM MEMBER MAY BE RECOMMENDED FOR PROMOTION. Consider if you were assigned to another team, which team member you would want to be your boss. Consider who you’d like to work with again. Consider who you’d go to extremes to avoid working with if you had a say. Here is the format for peer evaluations. Include the team member’s full name (1), and be specific about (2) what the team member did or did not do. At the end, if you were employed with this person, (3) would you recommend (a) Promoting, (b) Retaining (Keep in position), (c) Retaining with counseling to improve performance or (d) firing/replacing. Please keep in mind that in most business situations, only one person in a group would likely be promoted. Thus a recommendation to promote would be reserved for the truly exceptional team member Team Member 1: LEXA CREAMER As a team member with Lexa Creamer on the team marketing plan project, I feel qualified to speak about his/her job performance. Lexa’s contribution to the project was timely and significant. She accepts correction easily and is always willing to assist in any way that she can. I believe Lexa’s strengths are enthusiasm and timely submission of her work. I believe her weakness is the lack of flexibility. Lexa had to miss some of the meetings due to time conflicts...
Words: 669 - Pages: 3
