Free Essay

Glodman Sachs

In: Business and Management

Submitted By queensbelfast
Words 2063
Pages 9
During the past two decades many organisations in both the manufacturing and service sectors have faced dramatic changes in their business environment.

The secondary sector of the economy includes those economic sectors that create a finished, usable product: manufacturing and construction. Some economists contrast the wealth-producing sectors in an economy such as manufacturing with the service sector. Service’ can range from retail, insurance and government. Economists state that an economy begins to decline as its wealth-producing sector loses influence. Along with the service sector producing a service instead of an end product, both these sectors have faced dramatic changes in their business environments during the past two decades.
In the last twenty years, there has been a ‘sectoral shift’, manufacturing, or the secondary industry has declined in parallel to the service sector, this has been more apparent in the UK business environment. One argument is that service costs have escalated, resulting in a greater influence being put on the home e.g. laundrettes having being replaced by washing machines globally. Manufacturing firms have recognised the wider markets here and have put increased emphasis on their marketing activities. The service sector following deindustrialisation has seen a decline in public transport although during the 1980’s financial and business services grew.
One good example of this is the banking industry, in the service sector, which has gone through huge changes in recent years. By taking full advantage of information and communication technology, banks have vastly reduced their number of HR requirements. Many banks and building societies, across the world have merged to form ‘leaner’ business’ capable of reaching out to a wider customer base. The banking industry has shown that its environment has become less labour intensive; the advancements in I.T. have resulted in a more capital intensive business environment, communicating products to customers and streamlining all their practices to increase profits and ensure that they keep their stakeholders satisfied.
The Goldman Sachs group Inc, are a global investment banking and security firm that engage in financial services. Founded in 1869 by Marcus Goldman, with its headquarters based in Manhattan, New York City, the multi-billion dollar organisation’s products include, investment banking, prime brokerage, investment management, commercial banking and commodities. Enjoying profits last year of in excess of US$45.173 billion and with 68 percent of her revenues coming from trading, Sachs is a market leader on Wall Street ahead of Morgan Stanley and Bank of America. The company above all puts emphasis on its corporate citizenship, training women in developing countries in business and management. Most significantly the firm’s workers are known for their loyalty to the banking giant.
Despite its prestige and undoubted success, Goldman Sachs has come under intense scrutiny, over the last two years. As of December 2009, the company employed 32,500 people worldwide. In 2006 it was reported the average compensation per employee was US$622,000, the chief executive Lloyd C Blankfein earned a $67.9 million bonus in 2009, little wonder it was fourth on the list out of 119 companies in ‘Best places to launch a career 2008’.
Goldman Sachs primarily operates in the US, were the banking industry is highly regulated with focused regulators. The Federal Financial Institutions Examination Council (FFIEC) has resulted in a greater degree of regulation; however banks like Goldman Sachs have been able to abuse the less strident regulations and use their ‘culture of greed’, being nicknamed ‘Golden Sacks’. Less regulators equates to receiving less assessment and less time spent with each institution resulting in further problems e.g. the bankruptcy of the Lehman Brothers in September 2008.
These lax regulation laws have let Goldman Sachs enjoy a ‘culture of greed’, although they face external challenges to restrain payouts; they have resorted to internal changes in their business environment. The banking giant have been labelled ‘corporate thieves’ for languishing in enormous bonuses, last year 18 billion dollars went to the major executives via severance packages and other incentives including ‘group therapy sessions’ at top resorts across the US. This is becoming an increasingly addressed topic, for critics and politicians alike, Andrew Cuomo, New York Attorney General, argued why with the ongoing economic distress the banking giant paid 1556 employees bonuses of a least $1 million. The company has faced increased criticism, labelled the ‘Golden parachutes’. Many believe the insane cash payouts have been a direct cause of the global recession, due to the finance sectors lax laws on mega-bonuses. It is widely believed that Goldman Sachs are showing a blatant misuse of corporate assets, otherwise it is becoming more profitable to ruin the firm’s assets and ‘run with the money’.
Although the finance giant has stated it is showing a ‘restraint’ in awarding employees a 57 percent jump in their pay packages, it has been documented that in 2009 the average wage with bonuses came to £308,000 for their London based employees. All this has resulted in involvement form Barack Obama, warning: ‘I’ll fight this culture of greed’ as their ‘casino style’ payouts must be restrained. Britain is addressing these issues, with the organisations 5,500 London based staff getting reduce payouts than other counterparts in Manhattan. However the figures for 2008 and 09 suggest, regulation has not yet had effect with an average £308,000 to each employee. Goldman’s business environment is a culture of cash payouts, Obama stressed how, ‘People will think they are living in an Alice and wonderland world’.
In respect of the changes in regulation, management decided, along with banking giant Morgan Stanley to be nationalised. Sachs and Morgan Stanley in light of the changes in their business environment requested the conversion to bank holding companies. This is evidence that Goldman Sachs are addressing their ‘corporate thieves’ image as they have now become subject to much stricter regulation. Goldman Sachs has acted in light of intense financial scrutiny, having removed their strategic planning and positioning from the head of the banking titan. This represents a new era on Wall Street as ultimately the government are now in the ‘financial services driver’s seat’.
The increased regulation will have adverse impacts on Goldman Sachs stakeholder groups as their business environment has gone through radical change, largely becoming nationalised. With the seizure of Sachs and Morgan Stanley by financial regulators coupled with the changing economic climate means both banking titans will struggle to manage their interest rate in the face of rate competition, industry trends and economic fluctuations. It has become a challenge for the company to set their growth strategies, this challenge remains for all big banking corporations to continue to fight through the downturn and come up with sufficient dividend payments for shareholders. Goldman Sachs also face an aging ownership group, in its Manhattan branch and other counterparts elsewhere, the banks management teams and board of directors are aging, this is a problem made worse by their shareholders, both public and private demanding to pay their dividends.
Goldman Sachs’ mega-bonus culture has resulted in declining asset quality, this along with the lax attitude the company adopts towards regulation has resulted in cuts in some departments i.e. adequate employee training programs. Due to the company enjoying the years of ‘good times’, employees have and will be made redundant to ensure it can compete with its competitors on Wall Street and globally. This is imperative for Goldman Sachs as the banking industry has become ultra-competitive, credit card companies, insurance agencies, credit unions and check cashing services have increased the overall competition in the service sector, resulting in management requiring in re-writing strategies to remain at the fore-front, to preserve their dominance and market share.
The biggest effected stakeholder group by the nationalisation are the general public and customers coupled with the recession, it is becoming standard procedure for congress to ‘shift costs to the general public to assume the risks and losses’, even the customers of the bank. This has become even more apparent with the new rule of law that states, that with these bailouts every U.S. citizen, willingly or not is an investor in all banks. This present scenario has left the general public with a widespread feeling of despair, ‘suffering at the hands of what is nothing more than communism, pure and simple’. Millions of ordinary workers and Americans find themselves paying a heavy price for a recession widely blamed on the irresponsible actions of the banking industry.
The current situation has resulted in ethics now becoming more apparent than ever. The Guardian has stressed in a published report how, ‘Dramatic changes in the banking industry has turned it from a service to consumer financial vampire’, the global downturn and seizure of Goldman Sachs by regulators, has left many unanswered questions, none more so than any potential ethical issues which may arise in connection with the nationalisation. Goldman Sachs’ ethical procedures have been called on in the current climate, their hidden fees and ‘fiscal rape’ are evidence of the company being labelled unethical. Today’s banking laws and regulation allow an average customer an average rate of return of around 20 percent, however most financial institutions, including Goldman Sachs only offer a 3 percent return. The other 17 percent more than likely goes to bonuses, seven figure salaries or company assets; even though the general public are depended on to bail these banking giants out of crisis, despite the fact, the finance sector plunged the world into financial disarray to begin with. Unnecessary, unethical banking charges are becoming more highlighted, Goldman Sachs along with the majority of banks in America charge a fee for a bounced cheque, and are entitled to charge a customer to assess their entitlement despite the fact they could have the sufficient money available. Bouncing a cheque, using the ATM at another bank, paying bills online, in addition to monthly checking account fees and income from loans are now all standard charges, Goldman Sachs along with thousands of other organisations up and down the country, ‘has built a pretty thick and complex nest of income for itself’. Nowadays, bank income relies on transactions against their own customers; the almost widespread neglect regarding banking has let Goldman Sachs, ‘hold all the strings when it comes to our money’. The increased regulation and new practices on Wall Street and elsewhere has been described as ‘highway robbery’ with many of the general public been left to ponder, maybe the right question isn’t really, ‘What’s in your wallet?’ maybe it should be, ‘Who’s in your wallet?’.
In conclusion, with Goldman Sachs worldwide capital appeal and superior influence globally, the banking titan has enjoyed years of rewarding employees with lifetime sums of money for being in the ‘driver’s seat’ on Wall Street. However now that Barack Obama has tackled the healthcare system in America, he has made the banking industry his next frontier. The days of insane cash payouts appear to be coming to an end or at least a significant restraint to rescue the economy. The nationalisation process with Morgan Stanley represents a new era for banking and federal regulators are working to reduce the unacceptable culture that exists in this sector. Yet despite this radical change, not all stakeholder groups will be satisfied, shareholders will have to settle for reduced dividend payments, competitors will almost certainly acquire a greater market share and the general public/ customers are left having to pay inadequate charges and ‘bearing the brunt’ of the non-existent ethics that Goldman Sachs appear to lack.
(1,894 words)
The Guardian, 27 January, 2009

Similar Documents

Free Essay

Many Shades of Gray: the Goldman Sachs Standard

...Many Shades of Gray: The Goldman Sachs Standard Are there ethics in big business? Or does big business answer to a different power? This can be a rather gray area. The problem to be investigated is the Goldman Sachs Standard and the ethics (or lack thereof) that exist in the company. The original market strategy was to provide loans for small businesses and then sell these loans as commercial paper. (Jennings, 2012) In the 1920s, this became a tough market in which to make a profit. So, to borrow a phrase, when the going gets tough, the tough change strategies. In the late 1920s, Goldman changed its investment strategy to layered investments. This strategy involves creating a company and then personally purchasing a large amount of the shares. Goldman would generally purchase approximately 90 percent of these shares. The public, unaware of the original purchase, only saw a profitable company so they eagerly purchased not only the remaining initial shares, but also purchased shares sold by Goldman at a higher rate. Goldman would also purchase some of these to artificially inflate the market even further. This enabled Goldman to make money off of the secondary sales. Goldman was lying to its clients because the company it created was not truly as profitable as the inflated share price would indicate. It was fully aware of this and continued to layer additional companies into the strategy that would appear successful only as long as the market continued to grow....

Words: 2017 - Pages: 9

Free Essay

Goldman Sachs

...Ethical Dilemma: Goldman Sachs Was Goldman Sachs Socially Responsible? Pamela Bryant Northcentral University Abstract Illegal and unethical activity was prevalent in the Goldman Sachs administration and the charges filed against them by the SEC were inevitable. The underlying thought at Goldman Sachs amidst the allegations was a social purpose and a contribution to the economic cycle. While there were many gray areas of activity, this research will focus on the investment strategies used to control the clients financial investment gain and in most cases loss. Furthermore, this paper will outline the unethical behavior that was associated with the fraudulent transactions of Goldman Sachs as it related to the clients and public investors. Was Goldman Sachs Socially Responsible? The problem to be investigated is whether Goldman Sachs violated its own Code of Ethics in dealing with clients and public investors. According to the Preamble of the Business Code of Ethics, Goldman Sachs believes the highest standard of integrity should be included as the focal element in a business relationship. Regardless of how perceptive one might be in understanding the investment strategies of Goldman Sachs or even its relationship to the difficulties of the market, it is clear that not all activities were in accordance with the good old-fashioned law of principle and ethics. Background Goldman Sachs history has never been clear of controversy, dating back to its inception......

Words: 1162 - Pages: 5

Free Essay

Grameen Bank

...countries across the world. Two men have come up with, and implemented their ideas in primarily African villages in the past 30 years, and in both cases there have been positive effects. Economist Jeffrey Sachs of the Earth Institute in New York has created an idea called the Millennium Village’s Project. 2006 Nobel Peace prize winner Mohammed Yunus has come up with an idea known as the Grameen Bank. Both men’s ideas have shown positive changes in the communities in which these solutions have been implemented. After researching both of these topics extensively the Grameen Bank solution seems to be the least complex, most sustainable and most rewarding solution. This essay will expand into why the Grameen Bank solution is superior to the Millennium Village’s Project. Jeffery Sachs Millennium Villages Project focuses on a holistic approach to elimination poverty. Some of the things that the Millennium Villages Project focuses on is community health workers, diversified local food production, commercial farming, malaria control, piped water, solar electricity, and connectivity to name a few. These multiple tools are synergistic—while each has been proven to support its main target, each also contributes to progress on several or all of the goals. (Millennium Villages, 2012) Sachs believes that if you focus on these key topics that the quality of life in these countries will improve. The cost of this program is rather efficient as it is believed that it would cost the average......

Words: 953 - Pages: 4

Free Essay

Executive Summry

...Executive summary – Goldman Sachs The Goldman Sachs Group, Inc. is a leading global investment banking, securities and investment management firm that provides a wide range of financial services to a substantial and diversified client base that includes corporations, financial institutions, governments and high-net-worth individuals. Founded in 1869, the firm is headquartered in New York and maintains offices in all major financial centers around the world. They report their activities in the following four business segments: • Investment Banking • Institutional client services • Investing & lending • Investment risk management Goldman Sachs commits people, capital and ideas to help our clients, shareholders and the communities we serve to grow. The firm also provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in market making and private equity deals, and is a primary dealer in the United States Treasury security market. Former employees include Robert Rubin and Henry Paulson who served as United States Secretary of the Treasury under Presidents Bill Clinton and George W. Bush, respectively, as well as Mark Carney, the governor of the Bank of Canada since 2008, Mario Draghi, governor of the European Central Bank and Mario Monti, the Prime Minister of Italy. As of 2009, Goldman Sachs employed 31,701 people......

Words: 481 - Pages: 2

Premium Essay


...there. The eChoupal case provides a closer look at one such situation. Readings Required: Upton and Fuller, “The ITC eChoupal Initiative”, HBS Case 604016 Optional: Malone, Yates and Benjamin, “Electronic Markets and Electronic Hierarchies”, Communications of the ACM, 1987. Sachs “The Digital War on Poverty” Project Syndicate. http://www.project- URLs: Study Questions Please think about the following questions as you do the readings. 1. What was ITC's motivation for creating the eChoupal? 2. What were the old and new physical flows and information flows in the channel? 3. What principles did it employ as it built the newly-fashioned supply chain? 4. What barriers did ITC face in embarking on this project? 5. How should ITC develop this platform for the future? Is it sustainable? 6. Are you optimistic or pessimistic about the prospects of the “Digital War on Poverty” as described by Jeffrey Sachs? Why? Required Assignment “One Pager” for Emerging Electronic Markets Class Please submit a one page memo addressed to Jeffrey Sachs, Director, Earth Institute, (max 300 words) by 9pm the day before Session 22. Please submit either a PDF or MS Word file, with your name, date and assignment title at the top. Question: eChoupal uses relative simple technologies to connect poor...

Words: 401 - Pages: 2

Premium Essay

Merrill Lynch Merger

...Merrill Lynch and Co. was formed back in 1914 as a small investment firm on Wall Street, but over time grew into one of the largest firms in the world. In 1971 the company went public and at the time they were managing over 1.7 trillion dollars in assets. However come 2007 and the financial crisis Merrill Lynch and Co found themselves only days away from declaring bankruptcy. Bank of America Corporation is an American multinational banking and financial services corporation, is the largest bank holding company in the United States by assets, and the second largest bank by market capitalization (Top 50 bank, 2011). At the same time Merrill Lynch and Co was having trouble with consecutive multi-billion dollar loss quarters, Bank of America was in talks with Lehman Brothers about a possible acquisition. However the government could not make any guarantees to Bank of America for funding so talks died down in the last hours. Thus setting up what many professionals in the financial sector deem as the “Deal from Hell”. The exact cause of the downfall of one of the largest financial institutions in the world is up for debate among professionals from that field. According to some the collapse of Merrill Lynch started earlier in the years of 2006-2007 and can be widely attributed to then CEO Stanley O’Neal. According to Barry Grey, “The 93-year-old firm announced it had lost over $2.2 billion in the third quarter and written off $8.4 billion in failed investments, of which $7.9......

Words: 1760 - Pages: 8

Free Essay

Too Big to Fail

...Too Big To Fail Chapter 19 Setting This chapter starts with Lloyd Blankfein, CEO of Goldman Sachs (GS), thinking about his company’s future. Stock market is dropping and the regulators still haven’t decided on what, when and how to fix the financial system. Henry “Hank Paulson” the US Treasury Secretary at the time, strongly believes the only way to build confidence in the market place was to have the government pass the Trouble Asset Relief Program (TARP). He had a big task ahead of him because it would be difficult to get lawmakers to agree his plan. Currently Wachovia another well known bank is in crisis. Its two month old CEO, Bob Steel, is trying desperately to broker a deal without government intervention, with either Citibank or Wells Fargo and Company (WFC) to save his bank. In the meantime, investors’ confidence in Morgan Stanley is waning and the company is urgently trying to close a deal with the Japanese company Mitsubishi to get more capital on the books. Companies across the board are trying to become more liquid in the tight credit market. Major Players Hank Paulson is trying his best to reach an agreement with Congress, so he can get TARP passed as quickly as possible. He dislikes politics but knows he has to work with the politicians or his bill would die. His solution to the financial crisis is TARP and working with lawmakers would be the only way to get this done. To get Congress on board, he would also have to work with the chairwoman of the......

Words: 1747 - Pages: 7

Free Essay

Special Purpose Entities

...February 17 Discussion Question Christopher Suto 1. What is a VIE? An entity (investee) in which the investor has obtained less than a majority-owned interest, according to the United States Financial Accounting Standards Board. A VIE refers to an entity (the investee) in which the investor holds a controlling interest that is not based on the majority of voting rights. As long as the investee is not the primary beneficiary then they do have to consolidate the company on their balance sheet. 2. How did we determine whether an entity need to be consolidated before FIN 45? Before FIN 45, “Many financial institutions were secondarily liable (without adequate disclosures) for many financial instruments held in special purpose entities” (Reinstein, 2012). The old consolidation framework used a common-sense approach, where a company should consolidate operations when they had a controlling ownership interest in another. Controlling abilities were tough to recognize and led to many unconsolidated statements. a. Explain how FIN 46 modified the guidance on VIEs. Originally FIN 46 focused only on special purpose entities and required a reporting enterprise to consolidate them. Soon FASB changed it where FIN 46 should apply to all entities where a VIE exists. Part of this decision involves more judgment now according to There is no bright line test and all facts and circumstances, qualitative and quantitative, should be considered. b. Explain how SFAS......

Words: 1186 - Pages: 5

Free Essay

Vodafone Case

...service internet platform. We believe Mannesmann underpay for acquiring Orange. Although referring to past mobile transaction table, which assumes control premium - Exhibit 8, Mannesmann was relatively paid more as EV/Sub is 8,857x and EV/POP is 533x, which are higher than means for controlling deals, which are 6,530x for EV/sub and 330x for EV/POP in Europe and 4,569x and 203x respectively in U.S. However, transaction in same industry doesn’t necessarily reflect firm-specific characteristics, thus we developed a proximate synergy valuation model based on Goldman Sachs’ valuation on synergy of Vodafone&Mannesmann (V&M) deal. First, we calculate V&M’s synergy value of £28,891 million from all the parameters from Exhibit 10 in the case (detailed DCF valuation referred to Appendix 1). Second, we derived synergy for mobile data business of £5,778 million from Lehman Brother’s 20% estimation based on Goldman Sachs’ valuation....

Words: 880 - Pages: 4

Free Essay

Party Issue Valuations

...JS 5/1/2013 POLS 3315-001 Party Issue Valuations and Reassessments Why do political parties in the United States abandon or revisit specific issues? Moreover, what is the driving force behind a party making an issue politically salient? Some examples that could be correlated with these questions could be why the Republican Party has stayed silent on issues that many old-guard Democrats feel is contentious in the current administration, why the sudden recent ideological transformation of conservative party, or why many politicians steer clear from Wall-Street related subjects (even though lashing out against bankers these days is sure to garner some attention, and most likely support from the general public). All of these examples and more will be discussed in order to provide a sufficient answer as to why issues are left behind in the dust or put out prominently on display. There are numerous factors and variables to consider when trying answering such a question, one of which could be racial factors. It’s been largely documented that Latinos have been an increasingly growing electorate, going from 1 percent of voters from the 1950s to over 11% in the twenty-first century (Abramowitz 27). With this information in mind, it would make sense that the Democratic establishment is today trying to initiate immigration reform in the United States Senate, knowing that they’ll have an increasing amount of support from their Latino electorate. It should also be noted that......

Words: 3415 - Pages: 14

Free Essay

Goldman Sachs

...effectively helps in motivating the employees and improves communication processes both internal and outside public relations. Let us now look at the goals which Goldman Sachs has set for itself, identified from its vision & mission statements, business principles and its various public reports. * To provide superior returns to its shareholders. Goldman Sachs believes that profitability is critical to achieving superior returns, building their capital, and attracting and keeping the best people. This is a very quantifiable goal and its measured every quarter and is a primary indicator of the health of the firm. It thus relates to measurability of the SMART model1. * Strive to anticipate the rapidly changing needs of its clients and to develop new services to meet those needs. Goldman Sachs is primarily in the service industry which is highly competitive. Thus to ensure that it stays ahead of the competition, it is imperative for Goldman Sachs to continuously evaluate the requirements of its clients and ensure that they are being met.It thus focuses on specificity as mentioned in the SMART criteria. * To identify and recruit the very best person for every job and to offer them the opportunity to develop their career faster than anywhere else. Goldman Sachs is a people driven firm and consider them as their...

Words: 651 - Pages: 3

Premium Essay


...Case Study for Designing Channel Systems Cardenas Mike Lawrence BSBA MM 3-1 Submitted to: Ms. Anna Corina G. Kagaoan Introduction Business paper was initially presented more than 100 years prior, when New York vendors started to undercut their term commitments to merchants that went about as go betweens. These merchants would buy the notes at a rebate from their standard worth and after that pass them on to banks or different financial specialists. The borrower would then reimburse the speculator a sum equivalent to the standard estimation of the note.Marcus Goldman of Goldman Sachs was the primary merchant in the currency business sector to buy business paper, and his organization got to be one of the greatest business paper merchants in America taking after the Civil War. The Federal Reserve additionally started exchanging business paper alongside treasury bills from that time until World War II to raise or lower the level of financial stores coursing among banks.After the war, business paper started to be issued by a developing number of organizations, and in the long run it turned into the head obligation instrument in the currency market. A lot of this development was encouraged by the ascent of the shopper acknowledge industry, the same number of Mastercard backers would give cardholder offices and administrations to traders utilizing cash produced from business paper. The card backers would then buy the receivables put on the cards by clients from these......

Words: 759 - Pages: 4

Free Essay


...Bloomberg News Coca-Cola Is Said to Weigh Investment in Spotify Service By Andy Fixmer and Duane D. Stanford on October 11, 2012 * Tweet * Facebook * LinkedIn * Google Plus * 0 Comments * Email * Print More from Businessweek * * Odd Jobs: The Picasso of Parking Lots * * Post-Debt Crisis, No Consequences * * The Other Affirmative Action Battle: Thomas v. Wells * * The World's First 3D-Printed Guitar * * Algae Are a Growing Part of San Diego's Appeal Companies Mentioned * KO Coca-Cola Co/The * $38.23 USD * 0.12 * 0.31% * GS Goldman Sachs Group Inc/The * $120.2 USD * -1.79 * -1.49% Market data is delayed at least 15 minutes. Company Lookup ------------------------------------------------- Top of Form Go Bottom of Form Coca-Cola Co. (KO) is in discussions to invest about $10 million in Spotify Ltd., the subscription music-streaming service, according to two people with knowledge of the discussions. An agreement isn’t assured, said one of the people, who sought anonymity because the talks are private. An agreement may be reached in the next few weeks, Sky News reported yesterday, citing people close to the beverage company. Coca-Cola, owner of the world’s most-valuable brand, has increased its ties to entertainment so it can market products to young consumers in a subtle way. The Atlanta-based company reached a deal in April to add Spotify to......

Words: 420 - Pages: 2

Free Essay

Japan Business Woman

...Japan women Nowdays women in Japan have the same rights officialy and are an eaqual part of the society, but the reality is a little bit different. The history of Japan and their culture play a big role in how women are seen and treated as employees and business people. Womens role started majorly changing during the second world war when 2.5 million men or 17 % of their working population were a part of the armed forces. Women found themselves being fully in charge of their households, but portion of Japanese women had to work men jobs, coalmines, arms factories, steel mills. In 1950ies women not exoected to work for longer then 3.5 years until they “retired”, meaning that they get married or get pregnant and dedicate their live to being a housewife. 1980 women were discriminized at their work place, even tho the law stated that people have to get the same pay for the same job regardless of the sex, women got only slightly above 50% of what men made. The women role keeps on evolving in the Japanese society. The birth rate in Japan is below 2 per family, which means that the population is decreasing and Japan will have to reach out to women to fill the vacant job positions. Almost half of the population that graduates from an university in Japan are women, but interstingly enought only 67% of this population have jobs. The working women in Japan are more than twice as likely to quit their jobs willingly than american women. They do so because they feel that......

Words: 498 - Pages: 2

Free Essay

Dwp-Devil Wears

...Andy Sachs: Power trigger: exchanged working for Miranda in order to receive a better job in journalism. Relations Trigger: External attributions: wear dolce and gabbana clothes she will be seen as a fashionista. Social-identification: Near the end when she finally adapted to the firm, did what she had to do to be around the people she liked in the end. Values trigger: Goal Identification: Near the end, temporary at the end, but changed her ways because she didn’t want to be like that. Internal attribution: Test of her own skills: get the harry potter book, scarves, had to put up with all the bitch work. Miranda Priestly: Power Trigger: manipulation, you don’t do what I tell you to do, you’re fired. Expertise trigger: been in the business for so long, knows what she's talking about. Leader identification: subordinates follow her commands, cause she's the boss. Relation triggers: social-attribution triggers: if I act a certain way, put up a front, things will get done and she will be seen as a successful business woman/entrepreneur. Value trigger: Goal Identification: She has common values because this is her industry. Internal Attribution: test of her own skills, testing leadership skills, fashion show for James Holt, went to James fashion show before the show even started, testing her own skills. Emily Blunt: Power Trigger: Exchange: Working in order to go to Paris. Manipulation Trigger: Manipulating Andy for her own benefit stays......

Words: 448 - Pages: 2