Hydraulic Fracking A Boon or Bane to the US - Free Essay Example

Sample details Pages: 8 Words: 2436 Downloads: 9 Date added: 2019/08/16 Category Technology Essay Level High school Tags: Fracking Essay Did you like this example? Hydraulic Fracking: A Boon or Bane to the US The first question when hearing hydraulic fracking, it pops the question for what exactly is it? Hydraulic fracking (fracturing) is a controversial oil and gas extraction technique developed in the late 1940s to gain access to fossil energy deposits previously inaccessible to drilling operations. In the early 2000s, energy companies began combining horizontal (or directional) drilling with hydraulic fracturing to tap these reserves. The process involves drilling horizontally through a rock layer and injecting a pressurized mixture of water, sand, and other chemicals that fractures the rock and facilitates the flow of oil and gas. Don’t waste time! Our writers will create an original "Hydraulic Fracking: A Boon or Bane to the US" essay for you Create order These combined methods have allowed for expanded oil/gas development in shale and other formations in the U.S., Europe, Asia, Australia, and elsewhere. The rapid expansion of fracking is projected to make the U.S. a net exporter of natural gas in the coming years and potentially the worlds largest oil producer by 2018-20. Shale gas, which currently accounts for one-fourth of the nations natural gas production, is projected to increase to half by 2035. Tracing back its history in the United States of America can be seen since 1862. It was during the battle of Fredericksburg VA., where civil war veteran Col. Edward A.L. Roberts saw what could be accomplished when firing explosive artillery into a narrow canal that obstructed the battlefield. This was described as superincumbent fluid tamping. On April 26th, 1865, Edward Roberts received his first patent, for an Improvement in exploding torpedoes in artesian wells. In November of 1866, Edward Roberts was awarded patient number 59,936, known as the Exploding Torpedo. This extraction method was implemented by packing a torpedo in an iron case that contained 15-20 pounds of powder. The case was then lowered into the oil well, at a spot closest to the oil. From there, they would explode the torpedo by connecting the top of the shell with wire to the surface, and then filling the borehole with water This invention increased oil production by 1200 percent from certain wells within a week of being implemented. This also led to the founding of Roberts Petroleum Torpedo Company, which charged $100-$200 dollars per rocket, plus a royalty of 1/15 of the profits generated from the product. Even though the birth of fracking began in the 1860s, the birth of modern day hydraulic fracturing began in the 1940s. In 1947, Floyd Farris of Stanolind Oil and Gas began a study on the relationship between oil and gas production output, and the amount of pressurized treatment being used on each well. This study lead to the first experiment of hydraulic fracturing, which occurred at the Hugoton gas field, located in Grant county, Kansas in 1947. In this experiment, 1,000 gallons of gelled gasoline and sand were injected into a gas producing limestone formation with a depth of 2,400 feet. This was then followed by an injection of a gel breaker. While this experiment failed to produce a significant production increase, it did mark the beginning of hydraulic fracturing.   After the massive rise of hydraulic fracking by American petroleum companies all around the nation, the President Gerald Ford in 1982 state of the union address, promoted the development of shale oil resources, as part of his overall energy plan, as a means of reducing foreign oil imports. Coming back to todays politics for the help needed by the government officials or representatives of various states, it can be seen a total of about 40 senators hail from states that now have significant shale oil and gas prospects. Some represent what might fairly be called Americas petrostateslike North Dakota, which now gets more than half of its state government revenue from taxes on oil and gas extraction, second only to Alaska (82 percent) and edging out Wyoming (38 percent). It doesnt require a political genius to see that these states government representatives will increasingly be defined by their support for that oil and gas: The oil and gas industry made some $73 million in total pol itical contributions in the 2012 election cycle, nearly seven times what it spent in 1990. What do these folks want for their money? If the past is any indication, well see attacks on the Environmental Protection Agency, hostility to climate science and a tendency to subvert other important issues to defend the industry. The modern day fracking started in the 1990s when it was combined with horizontal drilling, which increased the production exponentially. Along with this entire successive profitable process for the Oil and Natural Resources Corporative Industry came a lot of environmental troubles. Some of them can be seen with the current major spill happening since 2014, The Taylor Energy Spill off the coast of Louisiana which is actually totally ironically discovered when watchdog groups stumbled on oil slicks while monitoring the BP Deepwater Horizon disaster a few miles north of the Taylor site in 2010. Other troubles are noted as follows: Water Use: In order to hydraulically fracture shale and extract the hydrocarbons, large quantities of water and chemicals must be injected underground. Because of the cost to truck water in from further away, companies prefer to use water from sources as close to the well as possible, which can result in significant impacts on local waterways and overburden local water treatment facilities. In Texas, which is suffering dangerous drought conditions, fracking continues even as water use by citizens is restricted, the landscape wilts and the animal life dies. In 2011 the Wall Street Journal reported that the diversion of water for fracking oil and gas wells is also a serious threat to ranchers and other businesses in Texas. (Russell Gold and Ana Campoy, Oils Growing Thirst for Water, Wall Street Journal, 12/6/2011) Fracking Fluids: During the hydraulic fracturing of a well, water is mixed with various chemicals to make a toxic brew called frack fluid. Until recently, neither the federal nor state governments required drilling companies to disclose the ingredients used in frack fluids. Some states have begun to require that companies disclose the chemicals they use, but even in such cases, companies can withhold some chemical names under trade secret exemptions. As a result, a comprehensive list of chemicals used in the fracking process does not exist. Some states have begun to require that companies disclose the chemicals they use, but even in such cases, confidential business information claims result in only partial disclosures. Corporations involved in fracking, like ExxonMobil, have inserted loopholes in drilling legislation that allow them to keep various chemicals used in the fracking process secret. Contamination of Water Wells and Gas Migration: Groundwater becomes contaminated by hydraulic fracturing in a number of ways, including leakage from liquid storage areas, leakage from injection wells, leakage during hydrofracking along faults or up abandoned wells, seepage into the ground when wastewater and residuals are applied to land (i.e. used for irrigation or on roads for dust suppression or de-icing), and other means. The cement casing which rings the well bore and goes through underground aquifers is meant to act as a barrier between underground water and the shaft through which frack fluid and gas flow. But the casing can fail or break during the fracturing process, allowing the frack fluid or naturally-occurring contaminants to contaminate groundwater.   When that happens, frack fluid and methane can leak from the well bore directly into the water supply, causing dangerous gas buildups, and making water unfit to drink. (US EPA, Science Advisory Board, Hydraulic Fracturin g Review Panel, report to Lisa P. Jackson, August 4, 2011). Some recent examples can be seen as In New York, claims have already been filed against the Anschutz Exploration Corporation and its subcontractors on behalf of nine families for the contamination of their drinking water due to natural gas exploration and drilling. A Duke study examining 60 sites in New York and Pennsylvania found systematic evidence for methane contamination in household drinking water. Water wells half a mile from drilling operations were contaminated by methane at 17 times the rate of those farther from gas developments. Although methane in water has not been studied closely as a health hazard, it can seep into houses and build up to explosive levels. Methane leaks in the Permian Basin, Texas has been totally going unnoticed during the recent past which is having a lot of public health hazards for the such as skin irritation and headaches. Approximately 2.3 million Texans live within a half mile of potentially hazardous oil and gas operations. That encompasses almost a fifth of the nations second-largest state. At least 900 schools and 75 medical facilities are also compromised, according to the Texas Observer. Much of that concentration is found in the Permian Basin, where emissions are a fact of life. Talking about the The Trump Administration recently stoked the debate even further, as the Bureau of Land Management (BLM) took the final steps to halt an Obama-era fracking regulation. The BLM, an agency within the U.S. Department of the Interior, recently rescinded a rule aimed at protecting the environment from the ill effects of fracking. The agency claimed that repealing the rule would save millions of dollars per year and eliminate redundancy with existing state-level fracking regulations. The rule being rescinded had been established under the Obama Administration to create a framework of oversight, disclosure, and operating standards to ensure the environmentally responsible development of oil and gas resources on Federal and Indian lands. It had sought to remedy the potential risk of fracking to underground water sources and to manage the disposal of pollutants resulting from fracking operations. Fracking raises these concerns because the technique extracts natural gas from rock formations deep underground by pumping water, sand, and chemicals into the ground at high pressure to fracture the rock, which subsequently releases gas trapped within. The gas can then be recaptured on the surface and stored, but leaves the water and other material injected into the ground in need of disposal. This, in turn, can cause potential contamination of water supplies, as well as seismic activity. To this end, the rule included several requirements for oil and gas operators, such as the submission of fracking applications to the BLM for agency approval and verification about the fracking wells structural integrity. Under President Trump, the BLM reasoned that removing these requirements would likely not increase the environmental and health risks associated with fracking. The agency stated that, as an initial matter, the BLM already has an extensive process in place to ensure that operators conduct oil and gas operations in an environmentally sound manner that protects resources. Moreover, according to the BLM, many of the Obama-era rules fracking-specific requirements were already consistent with industry practice, which appreciably reduces potential harms. Perhaps more importantly, the BLM found that all 32 states with federal oil and gas operations already have laws or regulations that address fracking. With steadily improving industry practices and comprehensive state regulatory programs, the BLM argued that the requirements in the Obama-era rule amounted to an unnecessarily burdensome and redundant regulationone that could potentially save the industry between $14 million to $32 million in regulatory compliance costs. Additionally, the BLM noted in its repeal that implementation of the Obama-era fracking rule had already been complicated by litigation. Industry groups had previously challenged the authority of the BLM to enact the fracking regulation, prompting a suspension of the rule by the U.S. District Court for the District of Wyoming. Since then, the rule faced further litigation, which resulted in the fracking rules never going into effect. The BLM stated that by rescinding the rule, the agency would circumvent the need for any additional litigation over the authority of the BLM to issue such a rule. Oil and gas industry groups applauded the decision to repeal the Obama-era rule. Moreover, a lot of US oil pipelines with current administration have been seeking from the steel tariffs as well as even asking the government to help build a wall in the Gulf of Mexico for protecting their oils fields from disturbances of the waves and possible flooding of the structures used in the oil field. The current society fo Americans are actually in favor of preserving the environment. Americans are generally less positive about the quality of the environment than they have been in years, and are convinced that it is getting worse rather than better. The Trump administration has over the course of its tenure in office announced that the U.S. will not participate in the Paris climate accord; rolled back government efforts to protect the environment; and advanced efforts to support traditional, fossil fuel energy sources. These policy actions appear to be contrary to the general trends in U.S. public opinion, which support more, rather than less, government action to protect the environment and favor efforts to develop solar, wind and other alternative fuel sources. The president and his appointees may argue that their main focus is on the base of voters who put Trump in office, and clearly his environmental approach receives more support from Republicans than from the general population. Most tellingly, Republicans agree with the general Trump position that economic growth should be prioritized, even if it risks harming the environment. Even with that, however, less than half of Trumps Republican base supports giving government money to support the coal industry, and slim or larger majorities say they favor a number of proposals to reduce emissions and develop alternative energy sources. This suggests that the president and Republican lawmakers and candidates could well find a nuanced position that coincides with the overall environmentalist sentiment of the American population without alienating their voting base. Works Cited Manfreda, John. The Real History Of Fracking. OilPrice.com, 24 Feb. 2017, oilprice.com/Energy/Crude-Oil/The-Real-History-Of-Fracking.html. Harvey, Hal, et al. 5 Ways the Fracking Boom Changes Politics. POLITICO, POLITICO, www.politico.com/magazine/story/2013/11/5-ways-the-fracking-boom-changes-politics-098984. Boudet, Hilary, et al. Fracking Controversy and Communication: Using National Survey Data to Understand Public Perceptions of Hydraulic Fracturing. Energy Policy, vol. 65, 2014, pp. 57-67., doi:10.1016/j.enpol.2013.10.017. Fears, Darryl. A 14-Year-Long Oil Spill in the Gulf of Mexico Verges on Becoming One of the Worst in U.S. History. The Washington Post, WP Company, 21 Oct. 2018, www.washingtonpost.com/national/health-science/a-14-year-long-oil-spill-in-the-gulf-of-mexico-verges-on-becoming-one-of-the-worst-in-us-history/2018/10/20/f9a66fd0-9045-11e8-bcd5-9d911c784c38_story.html?noredirect=on. Frackings Environmental Impacts: Water. Greenpeace International, www.greenpeace.org/usa/global-warming/issues/fracking/environmental-impacts-water/. Texas Oil Boom Has Environmental Advocates Choosing between 2 Unwelcome Scenarios. ThinkProgress, ThinkProgress, thinkprogress.org/pipelines-texas-exxon-permian-0db9ddeef1e6/. S. oil pipeline companies, producers seek relief from steel tariffs. Reuters, https://www.reuters.com/article/us-usa-trade-tariffs/u-s-oil-pipeline-companies-producers-seek-relief-from-steel-tariffs-idUSKBN1JF0DZ Gallup, Inc. Americans Want Government to Do More on Environment. Gallup.com, 29 Mar. 2018, news.gallup.com/poll/232007/americans-want-government-more-environment.aspx.

Medea as Woman, Hero and God in Euripides Play Essay

Medea as Woman, Hero and God In Euripides play the title role and focus of the play is the foreign witch Medea. Treated differently through the play by different people and at different times, she adapts and changes her character, finally triumphing over her hated husband Jason. She can feasibly be seen as a mortal woman, Aristotles tragic hero figure and even as an exulted goddess. Medeas identity as a weak woman is emphasised at the very start of the play. It is made very clear that she has come to misfortune through no fault of her own and is powerless in her problem (her world has turned to enmity). Being unable to change her situation is an example of her portrayal as a weak woman figure. We are told that she has been†¦show more content†¦However, once again though, we see this sharpness behind her veil of weakness (no bloodier spirit). With this said though, it is not a murderous, maniacal rage. She makes clear reference to the fact that she is part of the group of wretched women and that she is simply striking back as a woman scorned. When Creon comes on the stage, she continues with the pitiable appearance, begging (I kneel to you, I beseech you). She tries to persuade Creon that he has no threat from her, using the fact that she is a woman to make him disregard her power (Im in no position - a woman - to wrong a king). However, after this scene is where the image of Medea as a feeble woman ends. The Chorus indicate their pity and that Medeas plight touches our hearts. But at this point, Medea becomes the murderous and dangerous woman that will kill her children and cackle with glee at the thought of Glauces death. She declares that she manipulated Creon, fawning on him to gain my purpose. She still holds our pity but not in the same intensity (until eventually she finally loses pity almost completely in her double-infanticide). As a mother, Medea on the surface is not the best, as she eventually kills her children, ignoring their pleas for mercy (Mother, dont kill us). However, we must not ignore the heartache and pain that Medea endures in killing them. It takes incredible conviction to carry it out (parted from you, my life will be all pain andShow MoreRelatedThe Concept of the Tragic Hero: an Analysis of Jason and Medea in Euripides Medea1442 Words   |  6 PagesIn ‘Medea’, Euripides shows Medea in a new light, as a scorned woman that the audience sympathises with to a certain extent, but also views as a monster due to her act of killing her own children. The protagonist of a tragedy, known as the Tragic Hero is supposed to have certain characteristics which cause the audience to sympathise with them and get emotionally involved with the plot. 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Benefit Of Training And Development Of Employees †Free Samples

Question: Discuss about the Benefit Of Training And Development Of Employees. Answer: Introduction The training increases the efficiency and effectiveness of employees and is important in achieving goals of an organisation. It redefines the workplace learning. The companies are giving importance to workplace learning as it makes programmes more relevant and effective and creates a culture which encourages continuous learning and advances innovative leaders. The training has a great role in achieving goals of an organisation as it adds value in the performance of an organisation. There are various factors which are responsible for the performance of employees but training is a key factor. Now a days organisations spend a lot of money on the training and development of employees as it increases the performance of employees and it ultimately impacts the return of investment. [1] The impact of employee training and development on organizational profits The employee training and development programmes should be effectively managed to achieve optimum returns on their investment. The employees are also required to adapt continuous learning and update skills for the profits of an organisation. The appropriate training and development can evaluate performance of employees. Training creates a culture for continuous learning and develops innovative leaders. The training and development of employees affects organisation by increased productivity. The training and development improves the productivity of employees[2]. The employees remain up to date with new technology and use the existing technology in a better way. The well trained employees contribute both quantity and quality performance which results in profits to an organisation. The well trained employees lead to less wastage of time and resources. The training leads to less supervision because it improves the necessary skills and empowers employees to handle task independently. It i s seen that a well-trained employee is more aware to the organisation and requires less supervision. The training and development reduces error and accident on the behalf of employees. The errors occur due to lack of knowledge and specific skills required for performing a particular job. The constant training and development ensures that employees learn the right skills at right time. A well trained person prevents committing errors in a job[3]. The training and development pays an organisation by creating talent pool. The well trained employees can easily bridge the gap when someone unexpectedly leaves the job or take transfer. The employees are learnt multiple skills like sales, administration work, customer service and operations. The cross training enhances team spirit and the employees appreciate the challenges faced by the colleagues[4]. Many companies cannot discover the hidden talent of its employees. The training and development provides platform to employees to show their skills and express ideas with management. It is seen that employees desire for leadership role but because of the no leadership programme, the employees do not get chance to show their skills and prove ability. The training and development programme can be successful in spotting the leaders of tomorrow within the company[5]. The training and development plays important role in job satisfaction to employees for the role played by them in organisation[6]. The organisation is profited as the employees started to execute duties with great ability. The employees feel themselves as they belong to the organisation and the only way they can reward is by providing the best service. The training and development reduces turnover and absenteeism. Training provides confidence to employees by providing security at workplace. Training can also be helpful in evaluating weakness of employees. The weakness hinders performance of employees and hampers them by giving best outputs. The training eliminat es weakness by strengthening skill and talent of workers. It also dissolves inner barriers. A proper training and development provides employees continuous knowledge and experience. The regular training ensures that employees have reliable experience and knowledge for performing tasks and procedures[7]. It also ensures that the employees have consistent knowledge to perform tasks within the stimulated time period and without any barriers and there are no queries on the procedure of completing tasks. Security, discrimination and administration are the factors which are the tasks which are considered crucial and require special training. The organisation can be benefitted by training and development as it reduces the learning time. The systematic training by the experts is necessary to reduce the training period. It will take long time and more efforts if the employees learn through trial and error. It is also not sure that they learn the right method by practicing trial and error. Training not only takes care of all things but reduces the time period used in self-learning process considerably[8]. The training and development encourages team spirit, team work and collaborations. It instructs zeal to learn things for employees. It also benefits an organisation by increasing job opportunities and skills required at each level. It expands the prospects of human understanding and overall personality of employees. The training enhances profits of an organisation by providing opportunity for the development of human resources. The development of behaviour skills ultimately results in utilisation of resources and can be helpful to employees in achieving their personal growth. The training and development not only improves profitability but changes attitude of employees towards organisation. Budgetary considerations in human resources The budgeting in human resources includes systematic collection of information and data. Usually the organisations follow two types of process, incremental budgeting and zero-based budgeting. The incremental budgeting prepares a new budget by making use of the current budget. Some upward and downward adjustments are used to each item. In the zero based budgeting each item is justified before included. The budget considers reviewing prior budgets, knowing budget calendar, establish goals and identifying capital expenditures. The data needed in creating a new budget includes: The increase or forecasts in benefits cost. The number of employees anticipated for the next year. The actual cost earned in current year. Estimated turnover rate New programs planned. The changes which can impact cost are policy, strategy, law or business regulations. Once the employees are hired, it is required to train them. The training can only prepare employees for the positions in a better way[9]. The investment in training helps in recognising global reality. The success and failure depends on the skilled workforce of an organisation. The hiring manager of companies considers that training of employees is a key retention tool. The employee training and development requires money. The average cost of training is assumed as $1,888 per employee in a business of less than 500 workers. A training budget enables an organisation to forecast short and long term skill and plan best resource allocation. The training of employees includes forecasting knowledge, abilities and skills required to execute the strategic plan of an organisation[10]. The training budget includes many areas such as professional, customer service, policymaking development and software applications. It provides means to an organisation to control learning activity and investmen ts. It provides a standard to measure expectations against reality. The budget identifies various components such as increased productivity, improved precision, improved attitude and more work independence. The effectiveness of training can be tracked through observation, customer surveys, and employee questionnaires[11]. It allows adjustments and modifications. The training program also includes the development costs. It can be pay off after several months and cash flow can be accommodated. The allocation of funds for training with budget provides the flexibility to organisation all over the year. The cost included in employee training: Trainers salary Internal training programs Registration fees Travel expenses Consultation fees Education and program materials External programs Reflect on organization and propose changes for the future Woolworth is the largest retail group of Australia and New Zealand. We have over 3,000 stores, support offices and 180,000 employees. Our company serves millions of customers everyday with multiple choice, lower prices and excellent quality. Woolworth is publically listed on the Australian Securities Exchange. We have approximately 350,000 shareholders out of them 40,000 is staff of our own company. We focus on training investment. According to the report of 2006/2007 the total training of company increased to $ 50 million. It is anticipated that the training will keep on growing by approximately 20%. We treat our employees on the basis of equality. Aboriginal and Torres Strait islander employment are supported by providing equal growth opportunities to employees. We have cultivated a culture of learning. Various training and development programmes are designed to recognise talent of employees. We have equipped our employees with skills to use their full potential. A regular assessme nt process is followed to identify higher performance employees to reach next generation of leaders. We have registered under a private further education and training college with the higher education department[12]. The employees are supposed to complete their training before joining. We also do provide tertiary funding for employees and their children. We also provide NQF training programmes for both internal and external learners. We have done partnership with SETAs and leading tertiary institutions for the training programmes. The learners from disadvantaged background are transformed and get opportunities by company. The international and local conferences, internal and external coaching and mentoring keep on taking place. To fight with skill shortage we have launched a career development programme for the current employees, unemployed and underemployed. The duration of this programme is 12-18 month. Most of these persons will be employed by the company[13]. The candidates of W oolworth growth academy are paid salary and are employed by the company itself after the completion of programme. We have invested in the local talent by learning interventions for employees. We have talent development teams that work closely with learning specialists to make sure candidates have deep understanding of industry[14]. Our growth academy prepares the future leaders of our company and opens door for the disadvantaged talent. Woolworth can search for the best training solutions to implement annual skills development programmes for the staff. A training schedule or workplace skill plan (WSP) can be developed to implement skills development[15]. It also helps to identify skills required for the professional development of employees. The WSP provides a planned approach required for the amount and type of training required for the company. It can help company to discover talent of employees that is not necessarily known by the company earlier. The ultimate aim of WSP is to support skill development. The company can make use of continuing professional development (CPD) for achieving the right abilities to do job and enhance expertise. The efforts are done to improve job performance and employability. The professional development plan (PDP) can be useful in developing plan and manage employability in the challenging times[16]. It creates opportunity for the development and advancement of employees. The online t raining programmes can also be used by the company to provide training to staff. It is not a one-time affair. So, the company should realise the need of training time to time[17]. Conclusion The training and development upgrades not only the productivity of employees but also the profitability of an organisation. The development of employees ensures profitability of an organisation. The employees of an organisation can adapt an ever changing world market which is possible only if they are properly trained. The companies are required to make investment in on-going employee training and development for the success of employees and profit of an organisation. Training fosters ability to learn faster and adapt changes. It enhances quality of work and initiative of employees. It also assists to achieve organisational goals and objectives which in turn enhances the effectiveness of employees References Ana-Maria, Bercu, Impact of employees training programmes on job satisfaction. (2017) Current Science (00113891) 112.7 Angus, Mcllwraith, Information security and employee behaviour: how to reduce risk through employee education, training and awareness (2016). Routedge. Cyril, Kirwan, Improving learning transfer: A guide to getting more out of what you put into your training (2016). Routledge. Rob F, Poell, Time to flip the training transfer tradition: employees create learning paths strategically, (2017) Human Resource Development Quarterly 28.1: 9-15. Katerina, Kashi, Employees Training and Development: What Competencies Should be Developed the Most? (2014) European Conference on Management, Leadership Governance. Academic Conferences International Limited. Farhad, Analoui ed. The changing patterns of human resource management (2017). Routledge. Davis, Farnham, Human Resource Management in Context: Insights, Strategy and Solutions (2015). Kogan Page Publishers. Georgia T, Chao, Unstructured training and development: The role of organizational socialization. (2014) Improving training effectiveness inn work organizations. Psychology Press. 141-164. Chris, Brewster, The integration of human resource management and corporate strategy (2017). InPolicy and practice in European human resource management. Routledge, 22-35. John, Storey,New Perspectives on Human Resource Management (Routledge Revivals) (2014). Routledge, John,Purce, "The impact of corporate strategy on human resource management." (2014)New Perspectives on Human Resource Management (Routledge Revivals)67. Maura, Sheehan, "Human resource management and performance: Evidence from small and medium-sized firms."(2014) International Small Business Journal32.5: 545-570. Peter J, Dean, Tom Gilbert: Engineering performance with or without training. (2016) Performance Improvement 55.2: 30-38. Robin, Kramar, "Beyond strategic human resource management: is sustainable human resource management the next approach?."(2014)The International Journal of Human Resource Management25.8: 1069-1089. Saeid, Abbasian, "Attitudes towards competence development among employees in Tourism Industry: A Swedish pilot study." (2016) 25th Nordic Symposium on Tourism and Hospitality Research 2830 September 2016 Turku, Finland. Wayne, Cascio,Managing human resources (2018). McGraw-Hill Education

Price Ceiling free essay sample

A price ceiling is a government-imposed limit on the price charged for a product. Governments intend price ceilings to protect consumers from conditions that could make necessary commodities unattainable. However, a price ceiling can cause problems if imposed for a long period without controlled rationing. Price ceilings can produce negative results when the correct solution would have been to increase supply. Misuse occurs when a government misdiagnoses a price as too high when the real problem is that the supply is too low. In an unregulated market economy price ceilings do not exist. Students may incorrectly perceive a price ceiling as being on top of a supply and demand curve when in fact; an effective price ceiling is positioned below the equilibrium position on the graph. Effects of Price Ceilings Binding Versus Non-Binding price ceilings A price ceiling can be set above or below the free-market equilibrium price. For a price ceiling to be effective, it must differ from the free market price. We will write a custom essay sample on Price Ceiling or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page In the graph at right, the supply and demand curves intersect to determine the free-market quantity and price. The dashed line represents a price ceiling set above the free-market price, called a non-binding price ceiling. In this case, the ceiling has no practical effect. The government has mandated a maximum price, but the market price is established well below that. In contrast, the solid green line is a price ceiling set below the free market price, called a binding price ceiling. In this case, the price ceiling has a measurable impact on the market. Consequences of Binding Price Ceilings A price ceiling set below the free-market price has several effects. Suppliers find they cant charge what they had been. As a result, some suppliers drop out of the market. This reduces supply. Meanwhile, consumers find they can now buy the product for less, so quantity demanded increases. These two actions cause quantity demanded to exceed quantity supplied, which causes a shortage—unless rationing or other consumption controls are enforced. It can also lead to various forms of non-price competition so supply can meet demand. Reduction in quality To supply demand at the legal price, the most obvious approach is to lower costs. However, in most cases, lower costs mean lower quality. During World War II, for example, food sellers operating under ceilings reduced portion size and used less expensive ingredients (e. g. , more fat, flour, etc. ). It can also be seen in decreased maintenance of rent controlled apartments. Some scholars, however, doubt that price ceilings necessarily drive quality down in the case of an oligopoly. They argued that with few competing firms selling under a price ceiling, a company at the lower end of the market must find ways to achieve better quality without raising price. Black markets If somebody cannot obtain needed goods because a price ceiling reduces the quantity, they may turn to the black market. Those who—by luck or good management—obtain goods in short supply can profit by illegally selling at a higher price than the free market allows. The black market price is higher than the free market price because the quantity is less than in a free market transaction, where more sellers could afford to sell the product. People are sometimes forced to buy at these higher prices when a shortage happens and there is no other place to obtain these.