Organizational Behavior and the Individual Essay - 2

Organizational Behavior and the Individual - Essay Example In addition, experts have indicated that in midst of globalization; organizations are now dealing with people from different cultural and social backgrounds that have resulted in increment in the significance of organizational behavioral study (McShane & Glinow, 2010). Moreover, readings have indicated that there seems an on-going change and transformation in the trends of organizational behavior in the organizations due to a number of factors, such as workforce diversity, internet workplaces, employee relations, etc. In order to understand the significance of organizational behavior, this paper will focus on the Wal-Mart. In the Wal-Mart, major responsibility of work is on the managers that put efforts to carry out work efficiently. In addition, the company has taken care of employees, as well as the customers by the establishing the MARS model that focuses primarily on four factors of motivation, ability, role perception, and situational factors. In this regard, it is very imperative for every manager in the Wal-Mart to understand the MARS model. For instance, one of the most common factors is motivational factor that managers use at the Wal-Mart to influence their employees. According to David Bourassa (2010), a number of theories, such as Motivation theory have also indicated the importance of motivation theory in influencing the employees. In addition, Maslow’s hierarchy is another imperative example of the impact of organizational behavior in the different business processes. For instance, Maslow’s levels are as follows: Experts have discussed that application of abovementioned levels of Maslow can play a vital role in improving the performance of organizations, especially in the customer service department. Besides motivation, ability is another important factor in the MARS model, which indicates the recognition of abilities of every individual by himself in the organization that is very important for

The Crash of the Housing Market and its Effects on the Labour Force Essay

The Crash of the Housing Market and its Effects on the Labour Force - Essay Example The United States crash of the housing market was an unconstructive event that transpired and led to a financial crisis, as well as a subsequent recession, which started in 2008. The occurrence, officially referred to as the subprime mortgage crisis, was typified by an increase in subprime mortgage foreclosures and delinquencies and the resulting drop of market securities backed by alleged mortgages. These MBS and CDO – mortgage-backed securities and collateralised debt obligations, respectively, formerly granted appealing rates of return because of the greater rates on the mortgages, but the slightly lower credit quality eventually lead to massive defaults. Whereas factors of the financial crisis became clearer during 2007, a number of major financial organizations collapsed in September 2008, with considerable interference in the credit flow of these organizations and their consumers, along with the start of a harsh global financial crisis (recession). The financial turmoil had long-lasting effects to the United States and European financial systems. The United States, in particular, fell into a deep recession with almost 9 million jobs lost from 2008 to 2009, nearly 6 percent of the nation’s workforce. ... licies to endorse affordable housing, poor local and state governmental programs and mark-to-market accounting principle), role of Freddie Mac and Fannie Mae, poor policies by the Federal Reserve (American central bank), high debt levels and incentives of financial institution, credit default swaps, the trade deficit, technology and globalisation and finally the boom and subside of the shadow banking schemes (Wall 5). As from 1997 to 2006, the peak period of the American housing bubble, the value of a normal American house went up by 124% (Wallison 51). Between 1980 and 2001, the ratio of normal home values to normal household salary, also known as the measure of someone’s capacity to purchase a house, shifted from 2.9 to 3.1 (Wallison 51). By 2005, the ratio had increased to 4.0, and, by 2006, it hit a high of 4.6. This housing bubble made fairly a few property holders refinance their homes at much lower interest rates or back customer spending through taking out other mortga ges secured through the price appreciation. The United States household balance, as a fraction of yearly disposable personal revenue, was a stunning 127% by 2007, against 77%, in 1990 (Wallison 51). Effects on the Labour Force The ILO estimated that roughly 20 million positions will have been lost by the close of 2009 because of the financial crisis, particularly in the construction, financial services, real estate and auto industry, bringing world joblessness rate over 200 million for the initial time (Wallison 56). The number of unemployed individuals the world over was over 50 million, in 2009, as the world recession intensified. By the end of 2007, the United States joblessness rate was 4.9%. By late 2009, the rate had hit a high of 10.1% (Wallison 56). A wider measure of the unemployment