Reading Log writing and Economic Factors †MyAssignmenthelp.com

Question: Discuss about the Reading Log writing and Economic Factors. Answer: Brief summary of resources The resource shared reflects the key details, benefits of capitalism and relation of workers with the products produced in organization. In the given resources, it could be inferred that with the ramified changed economic factors, workers are highly dominated by their employers and exploited by them either in terms of salary or overtime work without any consideration. However, the emergence of labour unions and their subsequent victories enlarged the workers share of economic pie (Vincent, et al. 2016). All the points and detailed study have revealed that with the capitalisation in the economy, company needs to formulate employee oriented policies and rules. The resources mainly focuses on the problems and issues which have been faced by the companies in their value chain activities and how it could be eliminated by using proper ethical and legal business functions (Vincent, et al. 2016). This study has divulged that human greed and exploiting humans are the key fundamental factors f or the global financial crises. Therefore, it could be inferred that if companies work ethically and legally then it will not only increase the overall outcome of the business but also result to higher satisfaction to employees in their working process (Willmott, 2010). Responses to the resource: Opinion It is evaluated that with the changes in economic factors, each and every company needs to adapt with the changing factors. I wander that employees are also assets to company. If they consistently exploit them then it will endanger the sustainability of the company. The capitalisation was introduced in the economy with a view to eliminate the global crises issues (Maddison, 2011). Insights I have analysed that each and every organization needs to work ethically and legally. If they do not follow proper work system then they will have to face financial crises, high employee turnover and destruction of brand image in long run (Vincent, et al. 2016). However, exploitation of employees should be eliminated by using proper code of conduct and formulating employees oriented policies. I observed that the formula of conscious capitalism was introduced to open the economy for each and every one. It was intended to accelerate the business culture more employees oriented (Zaleznik, 2010). Question There are several questions which need to be encounter by the companies in this ramified economy. How could ethical and legal business practice eliminate the issues related to global crises? Why should companies focus on the employees orientation in their business process? After evaluating the resource given, I think that the idea of capitalism was intended to accelerate the business culture more employees oriented (Vincent, et al. 2016). References Maddison, A., (2011).Dynamic forces in capitalist development: A long-run comparative view. Oxford University Press, USA. Willmott, H., (2010). Creating value beyond the point of production: branding, financialization and market capitalization.Organization,17(5), pp.517-542. Zaleznik, A., (2010).Power and politics in organizational life(pp. 47-60). Harvard Busines School Publishing. Vincent, B, Cateley,T, Bevan,C, William H,S Donata,M, (2016), Moral issue in busienss with the student resource access 12th month, (3rd), Busienss in context, Australia: Cengage Learning, PP.104104,125--132