Public money and bailout Essay Example | Topics and Well Written Essays - 2000 words

Public money and bailout - Essay Example The government's argument is based on the fact that if the private companies were not assisted properly, most of the companies will be forced to cancel the service contracts of thousands of workers which will again increase the unemployment problem. In a country like United States, most of the employment contracts are based on the at-will employment types. Such employment contracts grant permission for the employers to dismiss their workers even without citing a proper reason. So unemployment problem will go beyond the grasp of the governments if the private companies were not assisted properly at this juncture of financial crisis. It is under this perception that the governments justifying their action to bailout private companies. "In their valiant efforts to avoid pain now, our governments are not asking themselves how much employment could be generated if the billions they are earmarking could be invested more wisely. The truth, however, is that carmakers were already receiving lavish support from the public purse long before the foundations of the world's economy started to wobble. Between 2003 and 2007, the European Investment Bank gave '6.5bn in loans to carmakers, including companies like Jaguar and Land Rover that prize customers with more money than brains. (Cronin, 2009) "Currently, private businesses and companies around the world, especially in Western economies, have already started laying off thousands of their employees, attempting of course to save themselves from a credit crunch and a looming global recession. The US unemployment figures rose to 7.2 per cent from 4.9 per cent in Dec 2008" (Bureau of Labour Statistics, 2009).Reports from western countries showed that many people have lost their jobs and many are afraid of losing it in near future. The current crisis seems to be deepened from day by day. All the remedial measures taken by the governments were proved to be insufficient to tackle the issue. Nobody expect a magical recovery in the near future. This time recession came unexpectedly to most of the people. The economic pundits were failed to forecast the crisis early enough to warn the people or the governments. The new American administration led by Barak Obama is facing the huge challenge of how to tackle the current crisis and at the same time how to preserve the jobs of the working class. Most of the common people are working in Public money and bailout 3 private companies and hence the governments cannot stay away from their moral responsibility of assisting the common people in preserving their jobs. "According to a recent report by the IMF, growth in emerging and developing economies is expected to slow sharply, from 6.25 percent in 2008 to 3.25 percent in 2009." (Cardozo, 2009) One of the prominent growing economies in the world, India has reported that they are expecting a growth rate of 7.1% though they anticipated more than 9% before the crisis begun. Most of the other emerging and developing economies found it extremely difficult to sustain their growth rate even though the crude oil prices has come down a lot. In order to analyze the depth of the crisis, the current crude oil price

Walgreens Company Analysis and Recommendations Assignment

Walgreens Company Analysis and Recommendations - Assignment Example The main focus of the retail giant drug chain store over the years has been expanding the retail footprint. Over the years they have concentrated more on opening stores than focusing on the needs of the customers as well as the employees. They have in the past used command and control approach in executing their business strategy. Therefore, they have set out clear roles and instructions for the employees which are closely monitored and evaluated. This needs to change as employees work better when they feel valued and that they can contribute to decision making. Leadership at Walgreens entails command from the top on duties and orders that should be followed by the employee. They are made to feel like cogs in a machine. This trend should change as employees should be made to engage more in decision making and giving suggestions. The top to down approach on leadership should be minimised. Better communication and relationship between the top management and entry level employees should be encouraged as team work will ultimately make for a happy work environment and therefore better service delivery. It is also important to keep training employees on better management and work ethic practices. It is of paramount importance to engage employees in better personnel management techniques rather than using the command approach (Kotler & Armstrong, 2014). Once the employees feel valued, they will be happy and satisfied with their work. This will eventually trickle down to becoming more productive at the work place, rather than feeling pressured to deliver all the time. Other than employees, customers’ needs should always be a priority. It is good for the business to connect with the customers on an emotional level (Shalowitz, Stevens & Kotler, 2013).Walgreens can differentiate itself from the competition by better service delivery. It is necessary to engage with the customers one a one on one level. As such, Walgreens