Minimum Wage Essay Example | Topics and Well Written Essays - 500 words

Minimum Wage - Essay Example Minimum wage increases as only a short-term benefit to the poor. Prices will quickly adjust for this increase as companies raise prices to make up for the increased wages they must pay. They need to keep profits the same or raise them...so a rise in employee wages will equate to a rise in prices. Supporters of living wage laws say that the current minimum wage simply does not keep up with the cost of living. Allowing employers to pay less than a living wage is just cost-shifting to the public at large, forcing the government and private charities to fill in the gap between low pay and survival. Many economists supports that the minimum wage is a matter of social justice which helps reduce exploitation and ensures that workers can afford basic necessities of living. Supporters deny claims of causal links between the minimum wage and adverse impacts upon employment, and suggest that in any event, greater social benefit derives from the minimum wage. Raising the minimum wages of employees increases the economic efficiency of the economy where labor markets exhibit a high degree of market power on the part of employers. As Kash explains, (Montag 51) "The minimum wage goes up in one place, but doesn't change right next door.

International Management Case Study Example | Topics and Well Written Essays - 500 words

International Management - Case Study Example The Chinese market compares favorably in terms of skills, flexibility as well as hard work while compared with the American market. Besides, the company enjoys ease of management of supply chains in China when compared with the same in America and this enables rapid access of the products across different part of the world. The Chinese government offers subsidies as well as streamlining regulations in order to boost manufacturing industries, which is favorable to Apple Company. However, the main threat that the company faces while operating in China is the threat of having more labor demands as labor organizations gain ground in improving employees’ welfare, which implies increased costs of operations through higher wage bills, which subsequently lowers the company’s profitability (Anon, 34-35). Among other obligations that the Apple company must meet towards its customers is the design and creation of high quality products which will ensure customer value and which will meet health standards for the welfare of the customers. Besides, Apple Company is obliged to increase persistently in research undertakings in order to keep improving on products offered to the customers.On the other hand, Apple Company is obliged to ensure value for shareholders investments through continued profitability. This explains the efforts that the management puts towards ensuring that the company runs profitably and ensuring that costs are minimized as possible while increasing sales. Finally, the company is in contract with Faxconn Company for assembly of the products and is therefore obliged to keep the company running through continuous supply of raw materials. Apple Company must also ensure that terms of contract between itself and Foxconn are honored. On the other hand, Foxconn have an obligation to the apple company in ensuring that high quality products are assembled and ensuring