Ensuring that their compensation is competitive with the market and valuing the employee’s opinions are just two ways to accomplish this. However it is done, a happy workforce is a productive workforce. Reference Robbins, S. P., & Judge, T. A. (2011). Organizational behavior (14th ed.).
Benefits There are many advantages for individual buying though from GPOs, one of the major advantages is the ability to provide a lower cost solution. By leveraging the buying power of members of GPOs, the consortium is able to combine the amount of products to gain these critical discounts, which in turn provides the best price to each individual participant. Vendors are willing to extend discounts and additional service levels to the GPOs to gain access to their large networks of buyers. This allows vendors to reduce their sales cycle and have a good forward view into demand - greatly impacting successful production and supply chain management. Other benefits for buying from GPOs may include as following: • Comprehensive sourcing strategies • In-house contracting/clinical expertise • Advanced procurement
Price Gouging is not Wrong Supporters of price gouging are of the notion that it saves life despite the increase in prices. In their arguments, they stated that in most cases sellers are taken advantage of by customers, so there is no harm in reciprocating it during times of disaster. Price gouging is not wrong in that, both the trader and the customer benefit from the trade. In a market that is unrestricted, there is a mesh between the vendor who is responsible for supplying goods that are needed urgently and the buyer who needs these goods urgently. There are price mechanism in every market that ensures a quick response from economic factors once any dramatic change is noticed in the demand and supply of commodities or goods (Snyder, p. 187).
1) With that being said, exporting and importing is great for companies and society to bring goods and services to people, however the way trade is done can be viewed as unfair in regards to the welfare of people and justice for human man kind who is working in third world countries. “Proponents of fair trade argue that exchanges between developed nations and lesser developed countries (LDCs) occur along uneven terms, and should be made more equitable.” ("Free Trade Vs. Fair Trade," 2005, para. 3) “By contrast, free trade proponents believe that under a system of voluntary exchange, the demands of justice are met. Although free traders hope to alleviate poverty and improve conditions around the world, they prefer measures that are less intrusive than fair traders, who regard the unfettered market as injurious to these same goals.” ("Free Trade Vs. Fair Trade," 2005, para. 5) In my opinion, justice is not fully met just because the system is voluntary.
In general terms, the advantage of implementing this strategy in the social contract is that agents will respond to the incentives of altruism, solidarity, conscience, and government reputation, recovering the idea of public ethos. Those bases are fundamental when the individual in a NGO understand that his job will be paid with a fair and equitable distributed salary, from the highest director to the lowest hierarchical worker. As well as discourage bureaucratic corruption and
Positive incentives on the other hand leave you better off financially and socially. Positive monetary incentives include coupons, sales, discounts and interest earned on investment accounts (Econedlink, 2013). Positive moral and social incentives would include helping others by donating blood, or giving funds to a charity to assist the less fortunate. Both negative and positive incentives motivate the behavior of people. A great example of an economic incentive that effects the monetary and the moral betterment of people would be the Hybrid Tax Credit.
A free market also ensures that people can run their business in whatever way they see fit, without being disadvantaged by outside forces. This type of relationship is called freedom of contract. A free economic system compels entrepreneurs to provide the wishes of the consumer by consistently seeking to offer not only better products but also new products that fulfill consumers' needs. However, a free economic system does more than satisfy the needs of the majority; it also allows for groups with special interests or needs to have their needs met much better than they could in an economy with strong central planning. In the end, the free economic system can fulfill almost everyone's needs and wants, while ensuring profit for everyone.
Yes, CSV involves social compensations, like Mr. Porter says, creating social benefits is a powerful way to create economic value for the firm. By creating products that are good for the consumer, nutritionally good, environmentally good, we help them save; raise their family in a better way. People have a lot of needs, if we mobilize capitalism to meet those needs, we can make a lot of money, but this kind of profit create Shared Value, it is not just profit at the expense of society or the consumer, it is benefiting the society and the consumer. Shared Value
Free traders argue that in the long run markets will solve - that is, when permitted to come to equilibrium, both rich and poor nations will benefit. In this way, free traders hold that free trade is fair trade. The Case for Fair Trade The Dependency Thesis Proponents of fair trade maintain that trade between and among nations occurs in coercive and uneven ways. Even if nations trade freely, smaller nations become