- QUESTION
“Culture can be both an asset and a liability to an organization.” Discuss
Challenge facing organization in the contemporary business environment
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| Subject | Cultural Integration | Pages | 4 | Style | APA |
|---|
Answer
The Debate over Minimum Wage
Over the past decade, there has been an unending debate over minimum wage. Whenever the government starts this debate on whether or not the minimum wage is to be increased, the result is often a bitter battle between people with different expectations. However, to better understand why this debate is never finalized on, it is important to first take into consideration the fact that the minimum wage law is so much more than money. It also affects the employer-employee relationship by determining the bargaining power of employers in relation to the employees they prefer.
It is often argued that a higher minimum wage will enable employees to better their lives. They will be able to afford so much more than they current are, such as insurance and even better education (Baker, 2018). However, opponents argue that this would hurt the low wage workers since employers will no longer want to purchase more of it. Therefore, the rates of unemployment will increase since labour will become expensive.
Research conducted has also triggered prolonged debates since they feature opposite results (Baker, 2018). Some argue that employment rates have reduced and that the average pay has also been lowered for the poorest employees. Others argue that employee income has been boosted as needed (Baker, 2018). Therefore, it is clear that this debate can only be resolved through a balance between the two points of view.
In conclusion, both sides have to compromise to ensure that the poor workers are not affected and that employees get better pay for their services. That is why the increased amount should not be double the amount, but rather a slight increase that will still make it affordable for employers to seek human labour.
Reference
Baker, P. (2018). How much is an hour worth? The war over the minimum wage. Retrieved from https://www.theguardian.com/news/2018/apr/13/how-much-is-an-hour-worth-the-war-over-the-minimum-wage
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Impact of Technological Change on the Labor Market?
QUESTION
What is the Impact of Technological Change on the Labor Market?
ANSWER
Impact of Technological Change on the Labor Market
The global community is witnessing rapid development in technology. Currently, technological development is touching all the facets of human life. Even though technology improves efficiency and productivity, it also kills several jobs in the labor market. The automation and adoption of information technology often eliminate several careers from the labor market. The first real example of the effects of technology in the labor market came from the development and adoption of computers.
Various workers in industries such as banking lost their jobs as one employee with a computer could effortlessly handle tasks that were previously done by twenty employees. The innovation, therefore, increased efficiency but also led to massive loss of jobs. The same scenario has replayed itself in several industries due to the development and adoption of technological advancements in such sectors. Currently, there is an increased push for the use of solar energy. The technology will render most electricians jobless as fewer people will be required to maintain the current electric cables. Employees working in warehouses and restaurants are also highly likely to lose their jobs due to automation. Therefore, technology causes redundancies, thus creating unemployment.
Automation and information technology will significantly change the level of demand for labor in the market. It will substantially reduce the level of demand for unskilled labor. Automated machines will perform mundane, repetitive tasks often performed by unskilled workers such as packaging products in warehouses. Automation of such duties will significantly reduce the demand for such skills in the labor market. On the other hand, it will increase the demand for skills, especially those present in technology-related fields. This shift in demand will affect the country's wage rate as low-skilled workers will receive lower wages while those with technology-related skills will get better pay due to their high demand.