The Main Difference between Wage Rate for Teacher and Sportsman Assignment - 4

The Main Difference between Wage Rate for Teacher and Sportsman - Assignment Example The current US federal minimum wage rate is $7.25 per hour, which was set in 2009. If the minimum wage rate is increased from $7.25 to $7.50 per hour, it will be good for the minimum wage workers. Increased wages will help minimum wage workers live a better standard life and will ultimately result in increased business productivity for the companies. At present, very few people go into the profession of teaching because people do not consider it a very good profession because of low wages. However, if the government equals the wages of teachers and business personnel, more people will try to join the profession of teaching because teaching is comparatively easier to do and requires less time than business. It will destabilize the economic progress of the country. If there will be no limit, more and more people will want to join the profession of lawyers because of attractive salary packages. In this case, other professions will be affected. Moreover, practicing lawyers will not want a large number of new lawyers to become a threat to their jobs. Therefore, they limit the entry of new layers in the profession of law. Considering the change in the total revenue resulting from the quantity and quality of the output produced by Michael Jordan, the amount given to the player was fair because he served his club very well during the whole season. Increase in wages will make the employees do more for their companies. When the employees will receive higher wages, they will definitely work hard with full dedication and commitment increasing their overall productivity and output. According to the output effect, a decrease in the wage rate will decrease production costs, so the price of final goods will decrease. The number of final goods produced will decrease, so the demand for labor will increase.

Report 501 Research Paper Example | Topics and Well Written Essays - 6500 words

Report 501 - Research Paper Example One of the widely used resource centre for efficient information service management is the Information Technology Infrastructure Library (ITIL). To be precise, hundreds of organizations all around the globe are encouraged to adhere to the practices outlined in the ITIL. In essence, different groups of stakeholders comprehend that to achieve top most success in information service management, then, it is essential that the key basics of the Information Technology Infrastructure Library are put into close consideration. The library offers the best platform for ensuring that an organization can efficiently achieve its set out operational goals. It further paves way for our organization to execute the right set of procedures towards creation of a successful and innovative business environment for the future (Mar 2013, 1). To be exact, the implementation of the ITIL in an organization is seriously a key subject not only in promoting our company’s competitive advantage but also in t he achievement of all our set out business goals. On this regard, this paper aims at delivering a well-designed report on the subject matter of issues related to the implementation of the Information Technology Infrastructure Library. In simple terms, the Information Technology Infrastructure Library (ITIL) entails a comprehensive and well-designed set of information technology documents that define the finest practices and techniques to be applied in an information technology environment. That is, it contains a high quality set of guidelines that are widely used in the day-to-day operations of both public and private companies (Chen 2010, 5). This is by providing them with an advanced blueprint necessary for the organization and management of the operations of an information technology company. The Information Technology Infrastructure library has aided many companies in promoting their global competitive advantage and be