The Causes of Deficit Financing in Pakistan

The Causes of Deficit Financing in Pakistan The aim of any government is to fulfill the socioeconomic responsibilities in order to break the vicious cycle of poverty and also uplift the economic conditions. In Pakistan it has been practiced that the aggregate of tax collection and no tax collection revenues are not ample to meet the government expenditure. To fulfill the gap between the spending and revenues so the economist used the perception of deficit financing. The government borrowing from banking and non banking sector and printing new currency is called deficit financing. Deficit financing shows the difference between projected expenditure and projected spending. To fill the gap of government borrows from 1) state bank of the country 2) borrow from commercial banks 3) borrows from non financial sector such as saving centers, insurance companies 4) the last source is printing new notes known as deficit financing. Deficit financing is a situation where government spends more money than its revenue collection. Deficit financing is used for different purposes the main purpose of deficit financing is used to end the recession when the economic activity slow down in order to retrieve the economy in the better situation. In the third world countries like Pakistan the deficit financing becomes the requirement due to bad governance, insufficient spending policies, corruption, tax evasion, and insufficient tax collection. In the west the phrase Deficit Financing is used to explain the intentionally create a difference between public revenues and expenditures or the budget deficit. This gap or difference can be filled by public borrowing, commercial banks, and central bank. The idle saving of is used to fill this gap that in turn increase the employment and output of the country. Deficit financing is the most important tool of generating capital in developing and underdeveloped countries. In developed nation the new currency notes are used to support the public investment that in turn increases the growth rate of a country. The government used the borrowed money for the development purposes i.e. railways, roads, air services, social overhead capital, schools, hospitals etc. The deficit financing is also used to increase the economic activity of a private sector in the country. The monetary expansion in developing countries attached with high rate of borrowing from banks and international sources to finance their budget deficit, budget deficit is the one factor that contributes in disequilibrium in the balances of payments. In developing countries governments are unable to mobilize or use their domestic resources due to inefficient tax system, in such countries the capital market are also underdeveloped and the interest rate determines institutionally. In such circumstances the supply of money increase that causes an increase in the price level. There are different sources of financing the economic development; these resources are domestic resources and foreign resources. Domestic resources are those in which the government finances through taxation, public borrowing, and the saving of government that include the surplus and also include the deficit financing. The foreign source of finance consists of loans, grants, and private investment. The significance of both domestic and foreign resources has their own in developing countries. The most important thing is used to execute these resources in a way that maximum benefit can be achieved for rapid development. Background of the problem Pakistan is a large country with a population of 17.50 million in 2010. The economy of Pakistan is still facing the low level of per capita income that is stranded at 699 US $ in December 2012. In Pakistan the ratio of the budget deficit is different in different years. From last two decades the budget deficit is 5.4% to 8.7% of GDP. The average deficit rate was 6% in the period of 1970and it was 7.6% in the period of 1980.In 1990s the deficit ratio was decreased to 6.4% of GDP due to a reduction in development expenditure. The ratio was not achieved by enhancing the tax system but due to the reduction in the development expenditure. The Pakistan tax system is still narrow and punctured due to the poor and weak tax administration. The balance of payments deficit has become a permanent problem of Pakistans economy. For the last fifty years Pakistan has been facing continuously from a current account deficit. The international loans are used to finance the deficit. The debt service charged more than 5% of the GDP of the country. With large budget deficit there is need of rapid growth of domestic credit. In underdeveloped countries the role of free capital markets is limited. The main source of government deficit is financed by the banking system. Like other developing countries Pakistan is also facing a large budget deficit as the most outstanding problem. Deficit financing is also responsible for high inflation rate, decrease growth rate, and low opportunities for private investment. Pakistan faces different rates of the budget deficit in different years. In last two decade the budget deficit ratio was 5.4% -8.7% of GDP. The ratio was 7.6% in 1980s the ratio became 7.6% in 2001- 2002. The rate of budget deficit in Pakistan has grown consistently with the passage of time. At the time of 80sthe budget deficit has increased as much as faster than the early periods and touched the ratio of 8.4% in 1987-88. The rate of budget deficits has decreased to 7% but that ratio was also considered high one of the experts. Due to large budget deficit there was a high rate borrowing is used to responsible for an increase in the domestic debts since 1980-81. In the period of 90s the severe situation faced by the State Bank of Pakistan to control inflation within the targeted limit and make sure the macroeconomic stability. In the fiscal year of 1998 and 2003 the rate of inflation was 4.6% that were relatively lesser the best rate. In early 1973 and 1980 the inflation rate was two digit figures that were 14.3%. The rate of inflation controlled in the period of 1980 that was 7.2% per annum but unfortunately the rate of inflation again grown to 10% per annum. The high rate of inflation also caused due to excess money supply, fiscal imbalances, and deficit finance sources. Problem Formulation Chaudary and Hamid (2001)Pakistan are facing severe obstacles of generating public revenue. The persistent failure in attainment of public revenue leads the public sector to depend on public borrowing. The result is that the public debt goes to increase the rate of 90% of GDP and the rate of budget deficit increase to 8% of GDP. The figure of budget deficit lead to double digit inflation (ref). These imbalances adversely affect the economy. These problems all are interconnected with each other in order to decrease the public revenues that in turn create the hindrance to meet the needs of the public expenditures. In this regard the efforts are made to improve the taxation system that is not based on the scientific approach, thats why the to attain the target of achieving the projected target failed continuously. The result is that it is not only used to meet the demands of development projects because at that time it not able to meet the demand of the current expenditure. In Pakistan the less than 1% population is taxpayer. According to the economic survey of (1998-99) Pakistan has experienced the sustainable growth rate more than three decades till 1990. Pakistans economy grew at the rate of 6% per annum more than three decades but the situation became adverse in 1990. The collection of tax also became very adverse at a satisfactory level. The other developing nations like Pakistan at the age of early growth need to get higher revenue than the developed nations. Due to the obstacles that prevail in getting the higher growth rate this could lead to the unsustanability to survive. According to the economic survey of 1998-99 the growth rate of Pakistan goes to down at 4.5% per annum, the ratio was about 6% in the last 3 decades and same ratio was 3% for few years. The deficit finance is the result of failure in an increase in the public sector to increase their savings. The trend shows that the efforts made in collecting taxes do not meet the demand of the public. It is important to note that Pakistan is not attaining the targeting revenue through tax. According to world development report (1979, 1991and 1997) the rate of tax collecting in the other developing countries is 25%. In the period of 1998-99 the tax shortfall was approximately 20%; it shows that there is need of detailed study of the tax reform system. The economic crises over in 2008, Pakistan have enjoyed greater economic activity. The policy maker in Pakistans fights a battle against the crisis hit in 2008-2009. The sudden increase in the oil prices also causes the alarming situation for the deficit in foreign debt and also decrease the value of the rupee. Pakistan made efforts to seek the international monetary fund after the allies of China, USA, and Saudi Arabia to refuse to provide the funds to the country in October 2008. Pakistan has provided the US$ 1 billion loan for 23 months. Pakistan asked the IMF to raise their loan from US47.6 billion to US$ 12.1 billion in February 2009. In august 2009 the IMF increases the time span to 25 months and increase the grant to US$11. 3 billion to meet their financial needs. Previous studies Ishfaq and Chaudhary (1999)The debt history of Pakistan started in 1984-85, when the surplus revenues turned into a deficit. The fiscal deficit and debt converted into multiple rates. The total deficit rate was Rs 89.2 billion in 1990-91 that rate was increased to 66% in 1997-98 and approximately to Rs 148 billion. The domestic debt was increased to 185 percent the amount increased Rs 448 billion to Rs 1280 billion and foreign debt increased to 156 percent the amount was Rs 272 billion to Rs 697 billion in the same time period. Pakistan has an opportunity to do some measures for the establishment of the macroeconomic indicator rather than to go for deficit financing for generating the revenue. In the mid of the 2008 the Pakistan started registering the imbalance in the overall economy. At the end of the 2008 the Pakistan fiscal deficit was increased to $ 5.6 billion that exceed to $ 8 billion. The trade deficit also increases to $ 13 billion to $ 18 billion. Foreign reserve has fallen to decrease to $ 6.5 billion. (Baig, 2011) Pakistan forced to take the help from the IMF in order to get financing for the deficit finance of their economy. The help provided by the IMF was the package of $6.7 billion that was later increased to $ 11.3 billion in 2009. The IMF also helped Pakistan by providing bilateral and multilateral aid that also causes to increase external debt and liabilities to $ 54 billion from $ 41 billion in January 2008. Pakistan is also used to sovereign bonds and sindak bonds in order to use another form of deficit financing. This also creates a problem for a country to repurchase these bonds according to their specified time table or schedule because different countries have different foreign currencies. In these situation investors does not show their concern toward the investment. (Baig, 2011) These both measures are taken by the international market that is not so enough for the needs of the Pakistan and then government compelled toward the third mode of deficit finance monetization. The Pakistani government relies on the domestic borrowing that is the cause of disparities in the debt dynamics. The domestic debt borrowing increased to 24% in the mid of 2008. Pakistan domestic debt was multiplied from Rs 2610 to Rs 4490 in the fiscal year of 2007.At the end of March 2010 Pakistan domestic debt was $ 53.2 billion which was appoximately30.6% of GDP. All the source of the deficit finance is failing to attain the desired results and lead the economy toward the negative direction. By the mid of 2010 Pakistans total domestic debt reached to $ 100 billion and there is already paid interest about $5.6 billion and debt servicing amounted $ 7.6 billion annually that was expected to cross the limit of $ 10 billion after the fiscal year of 2010-11. (Baig, 2011) Deficit finance works only when there are such sound policies that direct the planners that how to spend money in a way that raise debt, generate revenues and also plan some actionable ideas that directs that how to repay the debt. For the attainment of all these targets there should be a need of honest and sincere governors that Pakistan does not have. In this way we are able to increase the debt and rising the liabilities that is useful for the upcoming generation to pay off that. The money that is used to spend on the future of the Pakistani people should also be spent on the future of Pakistan that could be served as the bureaucracy, foreign visit, corruption and government functionaries. Today the Pakistan debt situation is alarming and we have no plans that how to raise sustainable revenues and having no idea that how to accumulate the external and domestic debt. We have very few and tough choices to make serious and valuable decisions. (Baig, 2011) Causes of Deficit Financing in Pakistan The main causes of deficit financing in Pakistan are: Increase in government expenditure: The government expenditures both development and non development are increasing as time passes. The government has not been able to meet the expenditure by its revenues. Ineffective budget deficit: There are ineffective fiscal policies implemented in Pakistan and fiscal indiscipline also result the public debt. Fiscal deficit: The average fiscal deficit in 1990s was 7% of GDP. The public debt increased from 66% of GDP in 1980 that almost 100% by the mid of 2000. In 2004-2005 the fiscal deficit was 3.3% of GDP however; it increased to 4.2% in 2006-2007. Low saving: The people of Pakistan are consumption oriented. Due to high consumption rate the saving ratio was lower than 16%. Rapid population growth: The rapid population growth also a main cause to slow down the economic activity of a country. According to economic survey of 2007-2008 the population growth was 1.8%. In underdeveloped countries the increase in money supply is one of the major causes of disequilibrium in the balance of payment with heavy government borrowing from banks and as well as from international source of finance. In such developing countries government relies on the deficit financing due to unable to use their domestic sources due to the inflexible tax structure. The capital market of such underdeveloped nations is not able to determine the interest rate and the interest rate was determined by the institutions that in case the result of excess money supply. Purpose Statement The rationale of this study is used to test the theory of association that relates the dependent variables and independent variables. Here in this study the factors (exchange rate, inflation, tax, interest rate) that is affected by the deficit financing are independent variables and GDP is dependent variable. Its individuality will be statistically restricted in this study. Objective of Study The following objective will be paying consideration to guide the study. To study the impact of deficit finance on the exchange rate To analyze the effect of deficit financing on the tax rates. To study the impact of deficit finance on the interest rate. Significance of Study Our study is about the impact of exchange rate, inflation, taxes and interest rate on deficit financing. In which we will see that how the factors are directly or indirectly affect by the deficit financing.

Greed Through the Power of Corruption

10 December 2011 Greed through the Power of Corruption Greed is indescribable; to want everything and anything, to never be satisfied until it consumes the world. Of all the traits that one possesses, greed is said to be the most influential of them all. Through the course of George Orwell’s popular satire, Animal Farm, traits of greed and selfishness can be picked up chapter by chapter. These traits that Orwell uses to describe the actions of the characters can be comparable to the modern era where our society is ridden with greed and selfishness for different desires. Animal Farm and the society of North Korea are consumed and impacted by greed and selfishness through unequal rights, ruthless oppression, and lack of a unified government. Throughout the course of Animal Farm, unequal rights are traced through the building of the windmill, to the harvest for food. Through the harsh summer harvest, Napoleon announced â€Å"Any Animal who absented himself from it would have his rations reduced in half† (59). The pigs and dogs were the only ones that did not have to work, ultimately causing the breakup of the equal rights idea Old Major stressed about. Napoleon and the pigs were manipulating the animals and abusing their authority to benefit themselves and the progress of the harvest, regardless of the effect it would have on the other animals. Despite the Old Major’s philosophy of equal rights, the pigs went on to abuse the other animals, further showing signs of their greedy nature. A comparable quote such as the one above can strongly relate to North Korea’s human rights and how the low working class has little to no basic rights. Much like how the rations of the animals would be reduced, many North Koreans also faced food shortages due to the government giving most of the food to the soldiers. The pig and dog’s selfishness through the progress of Animal Farm causes them to diminish the dream Old Major once dreamed of; a perfect society where everyone is equal. Many years after the rebellion, Benjamin â€Å"consented to break his rule and he read out to her what was written on the wall. There was nothing there now except a single commandment. It ran: All animals are equal but some animals are more equal than others† (134). Not only does this prove that the pigs were manipulating the commandments and altering the rules, it clearly shows the progress of the pigs selfishness to make them superior over the general population. They used this commandment to their advantage to justify their actions and superiority against the other animals. Similarly, in North Korea, women have no set of rights at all and are subject to be submissive to their male counterparts. North Korean males are subjected to be submissive as well to those of higher social status such as a government official or someone with more money than them. These depictions of no Human Rights help tell the story of how the higher classes’ greed caused the general population to be stripped of their most basic rights. Throughout the history of Animal Farm, ruthless oppression was used to detain anyone that opposed the government. Harsh punishments were under way when, â€Å"Napoleon acted swiftly and ruthlessly. He ordered the hens’ rations to be stopped, and decreed that any animal giving so much as a grain of corn to a hen should be punished by death† (76). Napoleon and the pigs’ tolerance to rebellion are so strict, that death sentences are held without facing a court or trial. This is a clear depiction on how Napoleon and the pigs are selfish for power where they will take it to the point to death penalties. It shows how the pigs are not afraid to show their wrath and how they will forcefully deal with it, even if it is one of their own comrades. It also shows how manipulation is involved and how Napoleon is installing fear into the minds of the animals. This relates to North Koreas oppression on its citizens and how anyone convicted of any small crime can be dealt with harsh punishments. For example, anyone that is caught listening to an outside radio broadcast can be sentenced to capital punishment. With the executions of the animals made public, â€Å"They were all slain on the spot. And so the tale of confessions and executions went on, until there was a pile of corpses lying before Napoleons feet and the air was heavy with the smell of blood†¦Ã¢â‚¬  (54). Napoleons greed for being on top forces him to detain anyone that is against him through the public executions. Because of his desire to stay on top of the chain of command, Napoleon would not hesitate to use his power to rout any sort of insurrection or even a small action that might seem to question his authority. Similar to the statements above, manipulation is also a key factor in his ruthless terror. He manipulates the animal’s mind in thinking that he is the true leader and enforces his place as the leader of Animal Farm. His greed for authority can be seen as a sort of an obsession which in turn increases the abuse of power to do whatever it takes to continue to be in power. This event greatly relates to the public executions in North Korea and how the government tries to institutionalize the fear of the punishment of crimes and rebellions. By instilling fear into the people, the government can then go on to commit whatever kinds of immoral deeds they desire without fear of protest from the people. Furthermore, ruthless oppression was the main driving force of the pig’s greed for power. With Animal Farm turning into a totalitarianism government, there were great deals of corruption throughout the years. Another unforgiving winter season hit the animals hard â€Å"and food was even shorter. Once again all rations were reduced, except those of the pigs and the dogs. †(46). While many of the animals were starved during the cold winter, the pigs and the dogs were able to enjoy the same amount of food, further supporting the notion that the government is riddled with corruption. Likewise, in North Korea, many government officials order assassinations or kidnappings of people that are against their rule. With some difficulty, Muriel spelt out â€Å"no animal shall sleep in a bed with sheets (66). With Squealer defending his opinions, he stated, â€Å"you have heard then, comrades he said that we pigs now sleep in beds of the farmhouse? †(66). Firstly, this shows the pigs selfishness towards the animals and how they don’t even care about the treatment they receive. More over it shows corruption in a way where the leaders are living a better life compared to the animals because of their current position in leadership. North Koreans can relate to this because there is corruption where positions in government may give you access to better rights than the general population. Over the different actions of the pigs and dogs, the corrupted government in which they rule caused them to be a step ahead of everyone else. During the course of the novel, many discussions are made that can be related to greed and selfishness. Examples of greed and selfishness impact on Animal Farm can be related to the actions of North Korea and how it affects them in the modern world. Napoleon caused many troubles throughout his service in Animal Farm and many of these troubles can be traced back to his selfishness and greed for power. Greed’s impact has caused many unlawful events in the book, which can also be found in North Korea. Ruthless oppression, unequal rights, and corrupt government are only a handful of what impact greed and selfishness had in Animal Farm.

Life After Ielts Essay Samples of Band 4

Life After Ielts Essay Samples of Band 4 The Little-Known Secrets to Ielts Essay Samples of Band 4 You also have to have an obvious position throughout. For instance, you could be requested to present your opinion on an issue, then go over the advantages or disadvantages of it. On the flip side, the most important disadvantage of this phenomenon is that if the couple becomes old and infirm they might miss the mental and emotional support which is very essential for the elderly men and women. If you don't, you aren't going to be answering the question. There are 4 issues to consider. Finally, to acheive in the previous point you have to be able to show that you could notice and write about the critical things which are going on in the graph, and make comparisons between the data. Quite simply, it's a worldwide issue. Employees would have the capability to devote time focusing on their wellbeing, family and other interests which could result in a happier life in their opinion. Family environment and upbringing has a huge effect on the psychology of a kid. Getting the Best Ielts Essay Samples of Band 4 Certainly, money has an important role in our lives. Certainly, it is an important part in our lives. So, for a lot of people, it may appear appropriate to marry for money as opposed to love. To a lot of people, it's appropriate to marry for money instead of love. If You Read Nothing Else Today, Read This Report on Ielts Essay Samples of Band 4 Thus don't get i ntimidated if you believe you cannot write such essays. If you copy another essay you've written on the very same topic, you will get rid of a great deal of marks. This essay is quite a great essay. Where you are able to discover more sample essays for example. Looking at IELTS essay topics with answers is an excellent method that will help you to get ready for the test. Knowing these mistakes should aid in improving your IELTS writing. Within this introductory lesson you will locate some guidance regarding how you should write an IELTS essay. If you do so, with a tiny bit of practice you will create clear straightforward essays with an assortment of superior language. The Essentials of Ielts Essay Samples of Band 4 You Will be Able to Benefit From Starting Today Arts reflect and inform us about cultural and conventional traits of a particular region. In the modern global Earth, the significance of English can't be denied and ignored since English is the most frequent language spoken. It's a fact that city dwellers are confronted with a number of issues each and every day. There are lots of benefits to encouraging tourism in a nation. Inside my opinion, there are lots of big issues city folks are currently facing. Today, people dwelling in massive cities face with problems in their everyday lives. There are many countries that spend money on advertising and marketing because they've realized the value of making a new supply of revenue. Only use words you learn how to use properly. Offer your opinion Some people today think that information about children's entertainment ought to be knowledgeable, otherwise they'll be a true waste of time. Today they often buy what they need and want via online. New Step by Step Roadmap for Ielts Essay Samples of Band 4 As a way to move up a complete band rating, you will have to make changes in all four criteria. Again, you might drop a complete band score. When you're graded, you will be provided a score for every one of these, and this will then be averaged. You receive a band score for each one of the criteria, and the ones within this table in the descriptors column are those which are specifically needed for an IELTS band 7. To summarize, too little exercise and having an unhealthy diet are the primary reasons for individuals to put on weight. Raising the amount of fuel could make all of the difference to the environment. Raising it would mean that people would use less petroleum and gasoline. The prices of several necessary daily ingredients also increase with the purchase price of the fuel. You need to show you can use a wide selection of sentence structures and have a high amount of accuracy. To deal with all sections of the job, you must respond to everything that's asked in the question. There's a lesson here that explains the significance of identifying the task to be sure you fully answer all portions of the question. Attempting to use a single remedy to address a significa nt problem like productivity may not get the job done very well.

Occupational Therapy In Mental Health A Meta-Review Essay

Three studies used evidenced based articles, literature, and databased key search words. The first study compared well-being and occupational performance interventions using PRISMA protocol (Liberati et., al, 2009) to reduce the bias of the study and CONSORT (Mother et al., 2010) to appraise the title, trial design, method, results, and conclusion (Clinical effectiveness of Occupational Therapy in Mental Health: A meta-analysis, pg. 3) ; whereas the second study used only level 1, level 2, and level 3 studies which compared the study results amongst all levels in the areas of client centered social participation/social skills training, IADL/life skills and physical activity, work and education, neurocognitive training, intensity and†¦show more content†¦#2 An additional study was designed for individuals with serious mental illness whose daily lives within the community have trouble with occupational imbalances and disengagements (Edgelow, 2008). The study compares occupational balance and occupational engagements by comparing an control group who receives normal treatment in an ACT facility working 1:1 with each participant, once weekly over 12 weeks and a treatment group which receives standard care along with AOI workbook interventions promoting and enabling (Barris,Kielhofner, Hawkins Watts, 1983; Townsend Polatajko, 2007) by focusing in change process, reflecting on current patterns and introduction of meaningful activities, gaining an understanding between serious mental illness, occupational balance and engagements, and ongoing monitoring and refinement of plans which occupational therapists worked 1:1 with each participant, once weekly visits over 12 weeks ranging from September 2007 through May 2008. #3 Another study was designed a bridge program to assess the effectiveness of an educational program for adults with serious mental illness. A control group received normal treatment in their regular mental health facility consisting of â€Å"medication management, case manager, 1:1 group counseling, and daily activity groups† to vigorously involve the participants in a variety of life skill intervention groups. (p. 248) 2 times per week for a total of 6 weeks. The bridge programs were heldShow MoreRelatedThe Occupation Of Gardening And Its Therapeutic Benefits For Children5855 Words   |  24 PagesThis essay will present an in-depth critique of the research literature exploring the occupation of gardening and its therapeutic benefits for children. Gardening is the activity of planting, cultivating and tending (Oxford dictionary 2015). The origins of gardening, and its fulfilment of a human need, date back to 1500bc where archaeologists discovered ancient paintings of opulent gardens by the Egyptians (Cellauro 2015). Recognition of the benefits of gardening as a therapeutic tool in occupationalRead MorePersonality Traits2403 Words   |  10 Pagesderived from empirical practice and it consists of five factors (1) Extraversion/Positive Emotionality, (2) Agreeableness, (3) Conscientiousness, (4) Emotional Stability versus Neuroticism, and (5) Openness/Intellect (Costa and McGrea, 1992), In this essay several examples of how the Big Five model indicates people’s behaviour are illustrated to analyze if the nomothetic approach is the most effective way to understand personality. A recently conducted study has revealed the relation between the BigRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages1 1 Introduction What Is Organizational Behavior? 3 The Importance of Interpersonal Skills 4 What Managers Do 5 Management Functions 6 †¢ Management Roles 6 †¢ Management Skills 8 †¢ Effective versus Successful Managerial Activities 8 †¢ A Review of the Manager’s Job 9 Enter Organizational Behavior 10 Complementing Intuition with Systematic Study 11 Disciplines That Contribute to the OB Field 13 Psychology 14 †¢ Social Psychology 14 †¢ Sociology 14 †¢ Anthropology 14 There Are Few Absolutes inRead MoreCauses and Effects of Internet Addiction Among Students10456 Words   |  42 Pagespredictors of IA included increased hours of daily Internet use, increased hours visiting chat rooms, sex pages and blogs, male gender, divorced status, poor grades, and accessing the Internet outside of the home. The results of this study will allow health officials to recognise students who are Internet addicted or on the verge of becoming addicted and stress risk factors indicating a need for intervention in or der to prevent the appearance of IA. Keywords: Greece, university students, Internet addictionRead MoreFundamentals of Hrm263904 Words   |  1056 Pages Employee Involvement 20 How Organizations Involve Employees 20 Employee Involvement Implications for HRM 20 Other HRM Challenges 21 Recession 21 Off Shoring 21 Mergers 22 A Look at Ethics 22 Summary 23 Demonstrating Comprehension: Questions for Review 24 Key Terms 24 HRM Workshop 25 Linking Concepts to Practice: Discussion Questions 25 Developing Diagnostic and Analytical Skills 25 Case 1: Work/Life Balance at Baxter 25 Working with a Team: Understanding Diversity Issues 25 Learning an HRM Skill:Read MoreOrganisational Theory230255 Words   |  922 PagesMikael Andersson/Nordic Photos/Getty Images; Figure 2.3  © Sean Justice/The Image Bank/ Getty Images; Figure 2.4  © Bruce Hands/Stone/Getty Images; 3.1, 3.2, 3.3, 3.4, and 3.5 based on Human relations: rare, medium, or well-done? in Harvard Business Review Vol. 26 No. 1 Harvard Business School Publishing (Roethlisberger, F. J. 1948); Figure 3.6 Courtesy of ATT Archives and History Center, Warren, NJ; Figure 4.1 The Trustees of the Imperial War Museum, London; Figure 4.2 adapted from Performance evaluationRead MoreDeveloping Management Skills404131 Words   |  1617 PagesPrinciples of Management, Human Resources, Strategy, and Organizational Behavior that helps you actively study and prepare material for c lass. Chapter-by-chapter activities, including built-in pretests and posttests, focus on what you need to learn and to review in order to succeed. Visit www.mymanagementlab.com to learn more. DEVELOPING MANAGEMENT SKILLS EIGHTH EDITION David A. Whetten BRIGHAM YOUNG UNIVERSITY Kim S. Cameron UNIVERSITY OF MICHIGAN Prentice Hall Boston Columbus Indianapolis