Causes Of Failure At Lehman Business Essay

Causes Of Failure At Lehman Business Essay The article examined and analysed for this coursework is entitled for Lehman, More Cuts and Anxiety by Jenny Anderson and Eric Dash. It was published in the New York Times in August 29th 2008. Lehman Brothers was formed in 1850 and is a much diversified globalised financial institution with its headquarters in the United States1. Lehman had a client portfolio of corporations, governments and various individuals across the globe meeting their financial needs. However, the once successful Lehman Brothers is facing a tough time. This is due to the sub prime mortgage crisis, an ongoing economic problem of contracted liquidity in the global market and banking system, in the United States. This adversely destroyed the operations of Lehman brothers significantly as their finances were seriously affected. Lehman undervalued risk in the subprime market together with false accounting leading to catapulting collapse of the organisation2. As a result of these problems, together with external for ces Lehman had to lay off 6000 of its workers. As quoted from main article by anderson3 Lehman has laid off more than 6000 workers since June 2007. Speaking in the same vain, this influences the morale on the remaining staffs expected round of cuts is stark reminder of basic truth on wall street, in good times you get rich, bad times you get fired3. The repercussions such as layoffs backfiring, dissatisfied workers and employment laws are some of the challenges that management at Lehman will be facing and therefore needs to apply various management theories and concepts to overcome it. These include analytical frameworks of Jackson and Schuler4 and Kochan and Barocci5 in relation to internal human resources management, together with the rights and responsibilities which can be exercised by Lehman Brothers. Causes of failure at Lehman: There was not a single variable which lead to the fall of Lehman brothers but rather a culmination of factors such as greedy Wall Street traders, debt load of American household, Rating Agencies and degregulations6. However, out of these factors the main one was the market of credit default swaps. Morin and Maux6 gave an explanation of the sub-prime market as follows inferior quality real estate loans whos higher risk of payment default is countered by the bank with higher rates. The mortgage loans granted at variable rates were granted to households with modest incomes. Moreover in a separate report and SWOT analysis done by Datamonitor7 gave an insight into how Lehman exposure to sub prime market caused a risk to the company and went further to criticise it. Investments in sub-prime mortgages and mortgage backed securities are at risk of being written off amid a crisis in US sub-prime mortgage market. Much of that prime dept was repackaged as collateralised debt obligations (CDOs) and mortgaged backed securities and was sold in the whole sale market7. Another factor which needs to be considered is known as Repo 105. This is a purchasing agreement used to manage cash flow by organisations. It normally involves an agreement in which the bank gives one of its counterparts highly liquid securities in exchange for cash. But in the case of Lehman they acted differently, according to Wilchins and Da silva8, Lehman Bought government bonds from another bank using its Lehman Brothers Special financing unit in the states. Before the end of quarter, the US unit transferred bonds to London affiliate called Lehman Brothers International. Afterwards, the London office gave assets to its counterparty and received cash and agreed to buy the assets back later at a much higher price, at least 105% of original price. The money that was received was used to cover and pay off a large amount of liabilities. Therefore the reduction in assets and liabilities showed a much better quarterly financial statements and corresponding ratios, appearing much bette r to regulators, investors and the general public. At the start of the next quarter Lehman borrowed more money using its falsely made up financial statements and then only to repurchase the securities from its affiliates in London and in so doing its financial statement will revert back to its preceding poorer position. Discussion With reference to the main article2 for the essay, after the mortgage crisis, management at Lehman had to re-structure their strategies for managing. Lehman executives are examining many options, among them is the sale of investment management division, which includes Neuberger Berman and could fetch $7-10 billion. Other options include the sale of about $40 billion of troubled commercial real estate, and the creation of separate unit that would be owned by Lehman shareholders and house a substantial portion of Lehmans commercial and residential mortgage assets, as well as making thousands of staff redundant2. According to Jackson and Schuler4, the implementation of a specific human resource management (HRM), practices, policies and philosophies and organisational performance are derived from an assortment of macro-level environmental influences. It was apparent in the case of Lehman Brothers that they should adopt the practice of organisational resizing in response to the economic and environmental conditions8. The degree to which their remaining employees respond and execute their duties will be deeply depended on how the human resource department handles the staff. In their model, the human resource management of Lehman needs to think about external factors such as culture, laws and regulations, politics and industry partners relevant to investment banking9. Moreover, the model shows the dependency between the processes of information interpretation, decision making and communication management in relation to the organisations technology, structure, size, strategy and life cycle stage. As a conglomerate company operating in different countries, the amalgamation of the globalisation strategy and sustainable technology would help Lehman Brothers. Henceforth, Lehman should apply the model and reduce its financial burden as well as job dissatisfaction. It was sensible for Lehman to lay off some of its staff as the article said but an alternative strategy could have been to keep its staff but give a pay cut. Although how feasible this option is unknown. In the same way, Kochan and Barocci5 provided an analytical framework demonstrating the informal linkage between the constantly evolving environmental conditions, HRM strategies and policies, and stakeholders goals and needs. It was significant for Lehman to understand the framework proposed by these management gurus as they have to make Human Resource decisions to convince both the organisation and its stakeholders including but not limited to maintaining profit, sustainable dividend payment to shareholders, provide a healthy and safe working environment, and customer service6,7. The management model proposed by Kochan and Barocci went further to advocate that organisational HR analysis should be able to recognise the need for HRM strategies and policies to adopt and response to both internal and external organisational changes9. As said earlier, Lehman brothers could have kept their staff on and reduce their wages or find them temporary jobs and in so doing their financial woes cou ld have been reduced and at the same time fulfil its responsibilities by providing short-term compensating jobs. However according to article used2, Lehman decided to permanently layoff 6000 workers which lead to backfiring by various stakeholders including some of the staff taking Lehman to court for unfair dismissal, retained workers felt job insecurity in a fearful environment, and loss of consumer confidence as reflected in the decline of mortgage financing applications in 2007. Lehmans stock has been rattled by persistent rumours about what the firms next move will be. Last week, the stock fell 12% and rose 16% on two separate days. The shares have lost 73% of their value this year, rankling employees and customers2. Therefore to prevent Lehman Brothers being in the news for similar reasons, it should layoff its staff in accordance with employment law. However, if the law does not sanction this act then a revised job package needs to be considered as discussed earlier. Although different Human resource management (HRM) strategies and practises exists such as human resource (HR) planning, staffing practices, performance and appraisal, workplace participants rights, responsibility and safety in the work place and etc. Not all of them are applicable in the article in the case of Lehman; the most relevant is HR planning and workplace participants rights and responsibilities. A tactical plan showing the elementary ideology and criteria fundamental to the success of such programmes is vital11. For the most part, strategically based organisations are now finding it beneficial to appraise the affectation of reduction measures in advance because an under-employment or over employment might obstruct accomplishments to change the organisations niche11. The conventional all plans fit in every situation i.e. uninterrupted layoff plans by Lehman brothers of staffs in unsteady conditions, cannot be used as forecast anchor in low growth, volatile business environm ent. An assortment of management gurus have given support to the human resource practice as it is important in deciding which jobs are critical, which jobs will be lost, and to establish whether terminations should be concurrent or implemented using a phase down approach12. Accordingly, this enables the justification and magnitude of importance for Lehman to conduct a Human resource planning by engaging themselves in an ongoing environmental scanning of both the internal and external labour market in line with an analysis of their organisational objectives, strategies and policies in order to determine the right quantity and quality of employees. Perhaps it can argue that because Lehman had to lay so many staffs off during their problems, there was a bit of Human Resources Policy failure i.e. the institution was overstaffed. The main other Human Resource practice which needs to be considered by Lehman is the workplace participants right and responsibilities. This is because the employment liaison between Lehman and other respective parties are determined by signed contracts. Henceforth, the employment law in all countries around the globe sets the minimum standards and conditions for employment in a given region13. As the employment options are diverse and multifaceted, it is imperative for Lehman Brothers to have up to date and precise understanding of employment laws both in the home and host country. In referring back to the situation in which Lehman laid off staff launched a court claim for unmerited dismissal, it seems Lehman was oblivious to the employment law. Whilst at the same time, it was apparent that how to reduce the financial loss was what was dominating the irrational managerial executives. The Human relation practitioners at Lehman should have known better in the sense that you cant just dismiss a member of staff without cause and the member wont refer to the Director General of Industrial Relations Act 6713. Lehman in principle needed to endow with their offer of contract in agreement with what the content said. And Lehman has the duty to pay remuneration if employers are prepared to work. Conclusions In the current global economy, various organisations will face many uncertain external environment pressures, which will significantly influence the Human Resource Aspect of the organisation16. In the case of Lehman Brothers, due to the sub-prime mortgage crisis it lead to a range of negative outcomes such as laid off staff taking Lehman to court for unfair dismissal, retained staff had lots of job insecurity in an apprehensive environment, and finally the loss of customers assurance as seen in the decline of mortgage financing applications. Therefore with reference to the main article, two pertinent strategic human relations management theories were used to explain how Lehman could improve its organisational circumstances. The analytical frameworks of Jackson and Schuler3 and Kochan and Barocci5 were discussed. In the application of the former framework to Lehman it was suggested that they should adopt the practise of rightsizing i.e. temporary layoffs of staffs and pay-cuts. It was also analysed that extend to which the staff kept behind would react and perform was seen to be greatly determined by the ability of the human relations department to control the situation15. Moreover the framework also recognized the need for Lehman to adopt HRM strategies with response to the changes in the external environment i.e. temporary layoff plan and job repackaging. Speaking in the same vein, two internal HRM practices were suggested to help Lehman out of its situation namely HRP and workplace participants rights and responsibilities. With respect to the HRP proposal, Lehmans one fit alls application was damned and instead, the significance for Lehman to conduct a HRP taking into consideration continuous environmental scanning were emphasised as their past HRP was a disaster- permanently laying off surplus labour leading to wastage of resources and excessive payrolls. References New York Stock Exchange (2008) Lehman Brothers Holdings Inc. Retrieved 20th Oct 2012. Weng Marc Lim. Organisational Strategic Human Resource Management. The case of Lehman Brothers. Journal of Management Research (2012) 4: 20-24. Anderson J Dash E. For Lehman, More cuts and Anxiety. The New York Times. August 2008. (Last accessed on October 30th 2012). Jackson S Schuler R. Understanding Human Resource management in the context of organisation and their environments. Annual Review of Psychology 46: 237-264. Kochan TA Barocci TA. Human Resource Management and Industrial Relations (1985) 15: 21-28. Le Maux J Monin D. Black and White and Red all over: Lehman Brothers inevitable bankruptcy splashed across its financial statements (2011). International Journal of Business Social Science 2:39-65. Lehman Brothers Holdings, Inc. SWOT Analysis (2008). Lehman Brothers holding SWOT Analysis 1: 1-10. Wilchins Dan Da Silva Silvio. Graphic How Repo 105 worked. Blogs.reuters.com/reutersdealzone/2010/03/12/graphic-how repo 105 worked. Hartel C.E.J, Fujimoto Y, Strybosch VE Fitzpatrick K. Human Resource Management: Transforming Theory into Innovative Practice. Malaysia: Pearson Education Australia 2007. Luoma M. The Essence of HRD orientation: evidence from Finnish Metals Industry (1999). Journal of European Industrial Training 23(3): 113-120. Zeffane R Mayo G. Rightsizing: The strategic Human Resource Management Challenge of the 1990s. (1994). Management Decision 32(9): 5-9. Khandekar A Sharma A. Managing Human Resource Capabilities for Sustainable competitive advantage (2005). An empirical analysis from Indian global organisation. Education Training 47: 628-639. Norman RN Fowler MP. Recent Changes in UK employment Law (1989). International Journal of Manpower 10(4): 28-30. Gee G Kleiner BH. How to downsize legally (1996). Managerial Law, 38(9): 22-31. Jimenez DJ Valle R. Innovation and Human Resource Management Fit: an empirical study (2005). International Journal of Manpower 26 (4): 364-381. Weng Lim. Organisational Strategic Human Resource Management. The case of Lehman Brothers (2012). Journal of Management Research. 4(2): 1-8.

Hamlet - Appearence Vs Reality Essay -- essays research papers

Appearence vs Reality Possibly the best piece of writing ever done by William Shakespeare, Hamlet, is a classic example of a tragedy. In all tragedies the hero suffers, and usually dies at the end. Romeo and Juliet commit suicide, Brutus falls on his sword, and like them Hamlet dies by getting cut with a poison tipped sword. The theme that remains constant throughout the play is appearance versus reality. Things within the play appear to be true and honest but in reality are polluted with evil. Many of the characters within the play hide behind a mask of dishonesty. Four of the main characters that hid behind this mask are Rosencrantz and Guildenstern, Polonius, and the king Claudius. From behind this mask they give the impression of a person who is sincere and true, in reality they are overwhelmed with lies and evil. Hamlet is spied on many times in the play. Rosencrantz and Guildenstern are two of Hamlets childhood friends who when asked by the king, try to find out what is troubling the young prince. Both help to add to the theme by showing their appearance of being Hamlets friends. The pair goes to Hamlet pretending to be his friends when in truth they are only there because the king asked them to find the truth. Hamlet quickly reveals the truth and says, "Were you not sent for/ And there is a kind of confession in your looks, which your modesties have not craft in color." (Shakespeare 2:2:278) From these words he is demanding an answer from his school...

Retail food industry/fast food chain business

The business that I choose is retail food industry/fast food chain business. For example, McDonald's is my case study in this proposal. This fast food chain business began with Raymond Albert Kroc. Ray Kroc was the exclusive distributor of a milk shake maker called the Multi mixer. That time, Richard and Maurice two brothers were the owner of a brand and ran a burger restaurant in San Bernardino, California, in the 1950s. In 1955, Ray Kroc founded the brand’s Corporation and opened the first restaurant in Des Plaines, Illinois. At 1980, the brand’s Corporation, USA gave GOLDEN ARCHES RESTAURANTS SDN BHD the license to operate the brand's restaurants in Malaysia. We in Malaysia got our first taste of the brand and Malaysia opened its first restaurant at Jalan Bukit Bintang, Kuala Lumpur on 29 April 1982. To date, the brand’s at Malaysia has more than 200 restaurants located nationwide. Then this is the origin of the brand. My choice business name is McDonald's. It is a fast food industry. Until now, McDonald's Malaysia has more than 200 restaurants located nationwide. McDonald's operation hours are 24 hours, but some outlets inside the shopping centre are just 14 hours only because shopping centre operation hours are not 24 hours. McDonald’s strategic location is built the restaurant in the high traffic area. For example some McDonald’s outlets are built in the shopping centre, because these shopping centres are the most crowded places. Another strategic location is built on the high way because some people who want to buy burger then will go McDonald because McDonald’s have the drive-thru then can let customers feel more convenient and save time. After that I'm chosen the McDonald's place is at Bandar Tun Hussein Onn. Bandar Tun Hussein Onn is a township in 9th-Mile Cheras in Selangor, Malaysia. It was named after the third Malaysian Prime Minister, Tun Hussein Onn. It is primarily a residential area and near by the secondary school. This location also has the drive-thru for some customers. McDonald's menus have included the Breakfast, Favorites, Happy Meal, Desserts, Beverages and McCafe. McDonald's products include the McChicken, Quarter Pounder, Big Mac, Cheeseburger, the Fruit and Yogurt Parfait, the Egg McMuffin and Spicy Chicken Mcwrap. At lunch time 12nn – 3p. m. & dinner time 6p. m. – 9p. m. , McDonald have the McValue Lunch & Dinner for discount some products price for let more customers can have the tasty burgers. Some time, McDonald will develop new different taste burger and toys. Like last time, McDonald were develops the McDonald breakfast & dinner box, GCB Burger and Hello Kitty Toys. After that, McDonald aside from free Wifi, can refresh the drink, a children's play area and the drive-thru, in some locations, McDonalds don't offer much in the way of services and other country McDonalds also have the different menus/products for their customers. McDonald also has a service called McDelivery, this service is transport food from McDonald’s restaurant to customer’s houses. These all the things are McDonald’s products/services. McDonald in the Tun Hussien Onn, customers demographic is younger persons occupying relatively high. After that, this also suitable for our Muslim consumer to purchase the product, because McDonald's products are without pork. This is because now, these young persons are like to go someplace where the wifi has and can eat the taste burger. These young persons are included like age 16-25, male, Chinese and Malay persons. For example, every Thursday I also have gathering with my friend at McDonald. This is because this location is near by the secondary school, after school 1p. m. some students who are going to McDonald then can get the McValue Lunch because can get the cheaper price. At dinner time, will more family go to McDonald for their dinner and the McValue Dinner. Some student and officer who are going McDonald not only the McValue, because McDonalds has the free wifi to let these customers who want to meeting or description. From McDonald, some customer will buy McDonald’s product/services because McDonald has the fast service and tasty burger. Sometimes, people who are going McDonald not only just in order to the tasty burger, also enjoy the comfortable environment, the refresh free drink and the free wifi services. After that, because McDonald has the McValue Lunch & Dinner, then can let customers use cheaper price and get the tasty burger sets. Next, McDonald also has the drive-thru and the delivery service then can let customers feel convenient. McDonald is not only the fast food business in Malaysia. For example, KFC and MarryBrown are also the fast food business companies then these 2 companies are McDonald’s competitors. First, KFC’s product also included burger, but KFC company main product not the burger, is the fried chicken. Then KFC and McDonald differences are the main product and McDonald can free refresh the drink. At others country, KFC also have the delivery. Second, MarryBrown also selling the same product – burger. But MarryBrown have other different products like Nasi MarryBrown, Nasi Ayam MB, Mi Kari Ayam Goreng, Chick-O-Rice and Chick Porridge. After that, Marrybrown and McDonald differences services are these, included the drive-thru and McDonald has the McDelivery for transport food to customer’s houses. This paragraph is about the McDonald and these 2 competitors differences. McDonald has competitive advantage. First, customers who are going to McDonald can buy the exciting toys and collectibles. But hurry, these toys are available for a limited time only. Second, when customers who are driving car and hungry, customers no need park their car. Then just can go to McDonald’s drive-thru for buy McDonald’s products. Third, if the customers who are have no car for go out have their food, McDonald has the McDelivery for transport food from McDonald’s restaurant to customer’s houses. If as this company – McDonald is my business, First, I will add the different products/ services because let customers can get more tasty products and specially services. Second, change the food price to cheaper because for those low-income customers. Third, is training McDonald's staffs for improve staff’s attitude. After that, my customers can enjoy the tasty food and have the best of services. Then I want to let anywhere also has McDonald’s restaurants. As my conclusion, McDonald's is one of the largest and famous fast food companies in the world. McDonald’s most of operation time is the 24 hours. McDonald always builds their restaurant in high traffic area. McDonald also has so many different products. In Malaysia, all Malaysians are also can go McDonald, because McDonald is non-pork then Muslim consumer can purchase those products. McDonald’s places have comfortable environment, the refresh free drink and the free wifi services. McDonald has a lot of competitors, but McDonald will do the best for their customers. After that, McDonald’s In Malaysia, McDonalds competitive advantages are better than others companies. Last, I hope McDonald’s products are healthier, not only the fried food. Thank you for reading, this is my conclusion.

Lotus Same Time

TELECOMMUNICATIONS, THE INTERNET AND WIRELESS TECHNOLOGY Name: Miguel Angel Condor Colqui Q1 * Based on the video and text of the case, list and briefly describe five areas where either version of Sametime may increase employee productivity. What do you think will produce the greatest increase in employee productivity? 1. Improve communication – Employees have a better communication through the lotus same time. Not only among them, they can also be linked with his /her boss, CEO, customer, etc. 2. Stress reduction – There is no need to wait lots of time to get, receive or access to certain information.Employee will not get stress for this kind of problems. 3. Improve access to information – Employees, bosses or whoever can upload certain information to a room, so allowed people will be able to get to them. It will be faster and restricted to the users. 4. Ease to create meetings – In the same way, there will not be reason to no assist to a meeting. You wil l not have to be physically in the room, because a virtual room can be created to meet. 5. Reduce lose of time – As we do not have to be physically at any place, people will not lose time moving.No buses, no cars, no traffic bottle will be a problem of everyday. * * Stress reduction will produce the greatest change. This disease is a big problem among employees and can cause a lot of problems inside the company. Not just in the production, it can cause conflicts, disagreements, misunderstandings, etc. A bad environment inside the company is not good for employee’s productivity. So if a program can solve it, why not prove? Q2 * How does Lotus Sametime support collaboration? What are the additional benefits of the virtual environment? Lotus sametime is not just a program to maintain people in contact.This program can create a relation between employees inside the organization. Most of people can get easily in contact through programs than in real life. In the same way, i t can improve the communication between areas, information can be easily shared and customer will be highly satisfied. Some other additional benefits of this virtual environment are: * Employee’s knowledge can be totally discovered. * Permanent communication between among areas. * Instant screen compartment. * Geo-location services. Q3 * What types of communication are integrated within Sametime's digital environment?What type of communication is missing? Does it make a difference? * Reciprocal – it goes between two or more people changing rolls. * Linguistic and extra-linguistic – People communicate through key board (chatting) or using some familiar codes. * Private and public – The communication inside the company can be private when it occurs between two employees or public when it goes to everyone in the organization. (In fact, it is not totally private because the conversation can be followed for the database system. ) * Formal – The messages use a formal code according to the organization policies. Horizontal and vertical – It can occur in a same range people or from boss to assistant. What is missing here is the physical or interpersonal communication. It can make the difference because when people talk they express a lot of feelings. The main advantage is that employees will not realize if the other one is tired or in another bad situation. Q4 * Do you think that â€Å"virtual collaboration† using avatars is more or less effective than traditional methods of collaboration (which include face-to-face, traveling to meetings, telephone conference calls, email, and instant messaging)?Compare it with the Cisco Telepresence technology and support your answer. In my opinion, the use of an avatar is a way to hide out real personality. I mean that people can hide and try to create a second personality to look in a good way to people in the company. However, the effectiveness of the program is totally ensured as we saw in the advantage. On the other hand, it is not sure that other one behind the monitor is really your co-worker. Accounts can be stolen; in fact passwords can be stolen by virtual hackers. So I think that this kind of virtual collaboration could be used in a real emergency or to get meeting.It is really useful for meetings. If we compare it with cisco telepresence technology I can say that offers a safer communication between people, because it is face to face. Of course the main disadvantage is that people must be at the same time in the meeting to start it. Further, using cisco you can see face expressions so it can help you to negotiate in a meeting. Lastly, cisco telepresence is a more formal way to communicate and if an organization need to have a more related company, it must organize the areas functions.

Waking Life essays

Waking Life essays By watching Waking Life once, our minds could be opened up to some deeper life philosophies that most of us rarely think about on a daily basis. This movie takes us on a journey to explore different peoples views on life and our world and relate to them in one way or another. Characters in the movie talk about many philosophers and their philosophies of life and express their thoughts and opinions through them. The subject of existentialism is touched on as a teacher in the classroom of a university talks about existentialists views on life. He talks about how existentialism is viewed as an unorthodox and depressing philosophy of life by many people and he argues that it is not. He refers to Jean Paul Sartre, a famous existentialist, who once said that he never had a day of despair in his life. The teacher says that even though the philosophy of existentialism tells us that we are abandoned and alone in this world and that the whole concept of universe and human nature is absurd, it gives us great power because we are condemned to be free. He talks about the significance of freedom of choice and that we could be whatever we want to be in this life since we have a right for free will. The teacher says, Your life is yours to create and it is always your decision who you are and by this, in my opinion, he gives his students a great lesson. The language lady was talking about people creating words in order to be able to communicate spiritually. But do we really know we are communicating as we think we do? Here we could see Descartess method of doubt as he would doubt the words to be real and not a part of his hallucination. One thing that we can be sure of is that we exist, our body is real and Descartes says I think, therefore I am. We could doubt everything that surrounds us, everything we hear an ...

President Obama says he'd talk on GOP's terms if they raise debt Essay

President Obama says he'd talk on GOP's terms if they raise debt ceiling, fund government - Essay Example However, the Republicans, led by the speaker of the congress are against this position held by Obama’s administration. To him, what Obama is trying to do, is to force his point of view to the republicans, as a condition of engaging into talks with them (Acosta, Tom and Deirdre, 4). Mitt Romney disagrees with this method that Republican congress men are employing for purposes of preventing the implementation of Obama care (Pham, 2). Romney denotes that there are other methods of getting rid of the Obama care health plan, and this includes delaying its implementation for almost over one year (Pham, 1). According to Mitt Romney, this health care policy will ruin the American economy, and therefore it is necessary to prevent it. Romney further denotes that methods such as educating the population against this policy are also an effective method of preventing the implementation of President Obama policies on health. He gave an example of the 21 hour speech of Senator Cruz, in which he strongly criticized the Obama health care plan. To him, this plan would ruin the American economy, and state. Other methods that Romney proposes include working hard in the campaigns for purposes of ensuring that the republicans gain the control of the congress and the senate. By doing this, they will be able to prevent bills that would work against their interests. The reasons as to why the republicans are not right in forcing a government shutdown, is that the economy of the nation might go into a recession. There is a possibility that the country’s stock market might fail, and over 800,000 federal employees might lose their work (Pham, 3). Romney therefore urges his fellow Republicans to desist from using such draconian measures in forcing the government of president Obama from implementing his health care reforms. This is because such measures are not patriotic, and there effect will be felt through the collapse of the country’s economy. Lately, for purposes of ending the stalemate, the republicans agreed for a temporary measure of funding the federal government initiatives. This measure is attached with a condition that the government won’t attempt to fund any additional policies, other than what was in the budget. The temporary offer would last for six weeks, when both the government and the republicans negotiate on the way forward in regard to implementing Obama care, and reducing the country’s debts. President Clinton also opposes this move by the Republican congress men. According to Clinton, the Republican wants the government of America to fail by denying it money to fund its activities. This is not what the founders of nation advocated for, during the creation of the federation. He further denotes that the proposals by the Republican congress is draconian, and is meant to erase the gains made by President Obama in taking the country out of recession. This move by the Republican congress men will lead to an increase i n unemployment, and to higher standards of living, therefore President Obama is right to refuse negotiating with these congress men based on their demands. According to Clinton, the rate of unemployment has decreased, and the country is nearly reducing its deficit. On this basis, the action by the Republican to cause the shutdown of the government is unwise, and therefore uncalled for. One of the methods that I would suggest in ending this stalemate is for the President and the Republicans to

Purposal Essay Example | Topics and Well Written Essays - 500 words

Purposal - Essay Example care profession grew I came to the realization that there was a significant lack of the application of leadership thinking and development of employee skill. This aspect combined with my thirst for learning new principles and theories which would be applicable to my organization and update my knowledge in leadership. Based on these goals to enhance my leadership skills I have chosen to do a master program in HR and Change Leadership as a strategic move which would allow me to improve the health service and explore ways that would aid health care employees perform superiorly. How this leadership doctoral program helps to meet my needs is in the way it’s not just a distinctive degree program but also it focuses on the application of theory to real life situations. This would facilitate my leadership and educational goals in the way I can tackle various challenges at work with solutions based on an understanding of leadership and organizational theory. Furthermore the course fulf ills my need in the way it enables me to maintain a reasonable work-life balance and thoroughly examine various aspects of the healthcare industry and how leadership can be used as a strategic tool to bring about accelerated social, cultural, administrative and technological change in the field. There are numerous learning aspects as far as this course goes, that contribute to my healthcare profession. Firstly due to the process of preparing for the numerous assigned HR readings and interacting with my peers and learning from their work experiences in diverse backgrounds has been a great help. From the basic elements which have molded my perception towards the critical role that Human Resource plays in the success and future of an organization. This field has facilitated not just my ability to be innovative and creative professionally but also helped me gain more experience and insight into the health care field. Through active participation in group discussions I have learnt how various