Modern Economics Essay Example | Topics and Well Written Essays - 1000 words

Modern Economics - Essay Example The basic assumptions of both of these models is that even if a country can produce goods at a cheaper cost than another country, the most effective means of production will be to concentrate on the goods they produce to the greatest advantage. The understanding is that by exporting these goods and importing goods that are the key product of other countries the nation will gain its greatest productive wealth. One of the most recent remedies of this situation is New Trade Theory. This theoretical perspective shifts the focus from the comparative advantage paradigm to one more internally focused. While comparative advantage largely neglected nascent industries in favour of established industries of greatest advantage, new trade theory considers the importance of establishing networks or clusters among industries. Through this process the country is encouraged to impose tariffs as a means of allowing emerging clusters of industries to grow, as the understanding is that these clusters wi ll ultimately lead to a significant competitive advantage. The notion of free trade has long been a notion that has sounded good among individuals, but when considered both in practice and theory has a number of prominent drawbacks. Indeed, there are a number of arguments justifying exceptions to free trade. As noted above the establishment of nascent industries oftentimes necessitates tariffs be implemented. Another reason against free trade is the general support of industry in the country, as tariffs protect against foreign competition.

Performance Evaluations Research Paper Example | Topics and Well Written Essays - 3500 words

Performance Evaluations - Research Paper Example Center of discussion in this paper is performance evaluation as one of the crucial factors in enhancing the performance of an employee and in stimulating growth in the organization. However, the organizations that do not have a proper performance appraisal system may face difficulties in retaining and sustaining their workforce. It harms the organization as well as the well-being of the employees. Performance evaluation can be described as the process of providing feedback to the employees regarding the job efficiency as well as career guidance. It can be considered as a fair and balanced examination of the performance of an employee. Performance evaluation tends to structure the relationship with the employees of the organization thus providing legal protection to the companies. The morale and also the performance of the employees tend to improve with the help of the performance evaluation. It is because of good evaluation system the poor performers in the organizations can be ident ified and therefore various suggestions can be provided in order to improve the performance. One of the significant problems faced by the employees in the organizations is related to the performance evaluation. The workplace faces with myriad workplace problems with the employees in relation to time, money and loss of productivity. This tends to increase the overall cost to the organization. Therefore, it is significant for the organizations to prevent such problems from occurring from the very beginning. It is the performance evaluation of the staffs that assists in dealing with the complex problems related to the employees. By instilling good employee evaluation system in the organization and if used constantly with all the employees most of the problems can be prevented from cropping up in the near future. Despite the best efforts of the organizations, difficulties with the employees are bound to occur. It is during such circumstances, performance evaluation has a role to play to identify and thus deal with the complex problems. It also brings discipline at the workplace to a great extent (Delpo & Guerin, 2009). One of the challenges that the supervisors at the organizations face is the performance related problems. The supervisors who are into the profession for a longer period of time have mentioned that the performance evaluation is one of the toughest and most complex issues. However, it is worthy of mentioning that identification of the performances of the employees at the organizations is one of the main responsibilities of the supervisors. Failure to identify the poor performances at the organizations may have a negative impact upon the overall organization thus leading to lower productivity and morale of the staffs. The supervisors at the organizations need to be tactful at handling the poor performances of the employees in the organization by means of performance evaluation system. A few of the preventive measures can be taken in order to prevent s uch issues from happening. It is significant for the supervisors to communicate the set performance standards and what is expected from the employees clearly. If the employees are unaware of the expectations of the employers from them, they might not be motivated to work as per the expectations. It is not required to produce as written document