Economics Assessment Assignment Example | Topics and Well Written Essays - 1250 words

Economics Assessment - Assignment Example Development of national accounts was necessary to provide detailed information that can be used by economists to rate the performance of the economy  and to predict future growth. Macroeconomics depicts the interrelationship of various sectors of the economy with significant effect on each other in case of decline or improvement in one sector. Macroeconomics generally shows the connection between national income accounting and gross domestic products with mainly depends on savings and investment for long-term economic growth. Financial markets are what characterize savings and investment that determine growth in gross domestic product and living standards of the people in that particular country (Mankiw 581). National accounts enable a country to lay down strategic plans for her economic progress in the future and on the other hand international development institutions grant loans to developing countries to facilitate their development strategies based on the national accounts of the country. Approaches of Measuring National Income National income is measured through a combination of output, spending and income approximations that have been generated over a given time period. The total value of goods and services produced, total expenditure by individuals and corporations in the economy with a combination of total income generated during production of goods and services during a particular year sums up the total national income. Gross domestic product measures value output produced although three approaches can be used provided the national output equals national expenditure and income. The methods used in calculating gross domestic product include expenditure method that sums up the total spending used on produced goods and services at current market prices. The spending includes exports and imports on goods and services, household, government and capital investments spending. The income methods can also be used by summation of profits of private sector, in come of citizens, and land rent income. In general, it’s the total income earned through production of goods and services in the economy. The income excludes private transfer of money, income not registered by customs and excise authority and transfer payment. Alternatively, gross domestic product may be arrived at through output method using value added concept. The totals are arrived at by adding together the output value produced in each sector of the economy that is considered productive. Valuation applies the use of increase in product value at each successive stage during the process of production and it is referred to as value added approach, which is applied to avoid double counting intermediate goods value (Dwivedi 61). National incomes that Adopt International Standards Countries compile their national accounts using international standards such as SNA and ESA; however, there are difficulties in comparing national income of different countries. Difficulties remain i n comparing national income internationally due to differences in income distribution such as the varying size of black markets, which directly affects the level of income from goods and services. Government spending on defense also varies from one country to another thus posing difficulty in comparing national incomes concerning spending. Countries with significantly varying number of population are incomparable when using the income approach in

Managing Diversity in Organisations Literature review

Managing Diversity in Organisations - Literature review Example The study will try to analyze the literature on selected topic from the view point of strategic human resource management. Literature Review Taylor Cox, who is a renowned US diversity scholar, has expressed both annoyance and frustration on issues like misuse of the term diversity in the field of management. Cox (1994) has argued that, managing diversity in organization was never an American issue because in today’s world, organizations of other countries face the same challenge as American companies do when it comes to managing a diversified workforce. According to Cox (1994), non-American companies need to understand the importance of key issues associated with managing diversity such as knowledge sharing, team work, lattice communication path etc. According to Seidl and Becker (2006), organizations need to take help of guidelines or best practices suggested by other successful companies in order to maintain diversity in business place. The scholar duos have stated that the term â€Å"managing diversity† should be used in order to address complexity and cross culture perspective of business practices. Research works done by various management scholars on the topics like diversity management have influenced the researcher to write this literature review. Equality at work: Global Perspective Many companies across the globe face challenges regarding maintaining provision of equality in the workplace despite the presence of national legislative frameworks in many countries. There are evidences regarding the gender discrimination in the workplaces in many countries across the world, such examples are not good sign for management researchers and managers who are supporters of the agenda named as â€Å"managing diversity in the workplace.† According to Singh and Vinnicombe (2003), pie for women in the management position is comparatively low in comparison to male counterparts. Becker and Haunschild (2003) have pointed out that many companies ign ore the complex issues regarding managing diversity in the organization. According to recent survey, rate of termination for disabled people is twice in comparison to able-bodied people in the UK. Such examples are showing that organizations need to rethink about discriminations related to gender, race, disability, colour and nationality in order to match steps with global trend of bringing and managing diversity in the organizations. Research scholar Korabik and Abbondanza’s (2004) have stated that women are equally capable of modifying organizational policies and taking part in business policy determination. Hence, it is evident from the above discussion that managing a workforce which is diversified in terms of gender, race, physical ability, nationality and colour can help organizations not only to achieve equality but also to improve their service quality. Equal Opportunities and Managing Diversity During early 1990s, management researchers have introduced the term †Å"managing diversity† in order to define characteristics of equal opportunities (EO). Research scholars such as Jackson and Schuler’s (2003) have stated that organizations need to adopt the managing diversity strategy in order to use potential human resources available in the global marketplace. Definition of managing diversity in organization can be stated as â€Å"understanding that there are differences among employees and that