American Economy of the 1990s and Beyond

The 1990s brought a new president, Bill Clinton (1993 to 2000). A cautious, moderate Democrat, Clinton sounded some of the same themes as his predecessors. After unsuccessfully urging Congress to enact an ambitious proposal to expand health-insurance coverage, Clinton declared that the era of big government was over in America. He pushed to strengthen market forces in some sectors, working with Congress to open local telephone service to competition. He also joined Republicans to reduce welfare benefits. Still, although Clinton reduced the size of the federal workforce, the government continued to play a crucial role in the nations economy. Most of the major innovations of the New Deal and a good many of the Great Society remained in place. And the Federal Reserve system continued to regulate the overall pace of economic activity, with a watchful eye for any signs of renewed inflation. How the Economy Performed The economy turned in an increasingly healthy performance as the 1990s progressed. With the fall of the Soviet Union and Eastern European communism in the late 1980s, trade opportunities expanded greatly. Technological developments brought a wide range of sophisticated new electronic products. Innovations in telecommunications and computer networking spawned a vast computer hardware and software industry and revolutionized the way many industries operate. The economy grew rapidly, and corporate earnings rose rapidly. Combined with low inflation and low unemployment, strong profits sent the stock market surging; the Dow Jones Industrial Average, which had stood at just 1,000 in the late 1970s, hit the 11,000 mark in 1999, adding substantially to the wealth of many -- though not all -- Americans. Japans economy, often considered a model by Americans in the 1980s, fell into a prolonged recession -- a development that led many economists to conclude that the more flexible, less planned, and more competitive American approach was, in fact, a better strategy for economic growth in the new, globally-integrated environment. The Changing of Americas Labor Force Americas labor force changed markedly during the 1990s. Continuing a long-term trend, the number of farmers declined. A small portion of workers had jobs in industry, while a much greater share worked in the service sector, in jobs ranging from store clerks to financial planners. If steel and shoes were no longer American manufacturing mainstays, computers and the software that make them run were. After peaking at $290,000 million in 1992, the federal budget steadily shrank as economic growth increased tax revenues. In 1998, the government posted its first surplus in 30 years, although a huge debt—mainly in the form of promised future Social Security payments to the baby boomers—remained. Economists, surprised at the combination of rapid growth and continued low inflation, debated whether the United States had a new economy capable of sustaining a faster growth rate than seemed possible based on the experiences of the previous 40 years. --- Next Article: Global Economic Integration This article is adapted from the book Outline of the U.S. Economy by Conte and Carr and has been adapted with permission from the U.S. Department of State.

Process Capability - 709 Words

In general, a process is a way that we combine materials, methodology, tools, and individuals to product something that has measurable output. This could be a manufactured product or service, and the measurable property is called process capability. This is sometimes known as process capability indexing, process performance, or process measurement. Each, though, has two parts: 1) To measure the variability of the output of a process, and 2) To compare that variability with standardized benchmarks, specifications, or product tolerances. Of course, the bottom line for measurement is to improve the process and the ratio approach uses a set of numerical values to keep the product or service within tolerance levels (Relyea, 2011). In any venue, measurement must be tied to something specific it is not enough to simply measure as a means to an end, but rather the measurement must mean something to the end result, the production method, or the service quality. Essentially, if we do not measure something effectively, we cannot improve it. The reasons for measuring are varied, but may be noted as: Program effectiveness Decision making Setting goals and objectives Recognize good or great performance Interceed in time with poor or negligible performance To inform stakeholders To hold x accountable for y To control and allocate resources To motivate and promote To establish what is vital from what is important from what is interesting To celebrate, learn, and move forward ToShow MoreRelatedComparative Analysis of Business Analysis and Business Process Management Capabilities6455 Words   |  26 PagesAND BUSINESS PROCESS MANAGEMENT (BPM) CAPABILITIES Paul Mathiesen, Faculty of Science and Technology, Queensland University of Technology, Brisbane, Australia, p.mathiesen@connect.qut.edu.au Wasana Bandara, Faculty of Science and Technology, Queensland University of Technology, Brisbane, Australia, w.bandara@qut.edu.au Houra Delavari, Faculty of Science and Technology, Queensland University of Technology, Brisbane, Australia, h.delavari@qut.edu.au Paul Harmon, Business Process Trends, 1819Read MoreProduction Planning and Control Activities1664 Words   |  7 Pagesdifficulties such as equipment malfunction, quality issues, or late work. Jidoka helps stop the passing of defects, helps identify and correct problem areas consuming localization and separation, and makes it likely to â€Å"build† quality at the production process. While JIT has customarily been used by large industries, owing to the apparent importance of SMEs in economic growth, application of JIT in SME has arisen as a critical growth path. However, unlike large organizations like Toyota, where JIT hasRead MoreQuality Assurance : The Act Of Giving Confidence1655 Words   |  7 PagesQuality Assurance: The planned and systematic activities implemented in a quality system so that quality requirements for a product or service will be fulfilled. Control: An evaluation to indicate needed corrective responses; the act of guiding a process in which variability is attributable to a constant system of chance causes. Quality Control: The observation techniques and activities used to fulfill requirements for quality.† http://asq.org/learn-about-quality/quality-assurance-quality-control/overview/overviewRead MoreCase Study : 6 Sigma Manufacturing Process1419 Words   |  6 PagesAbstract:- This case study is about 6 sigma manufacturing process by which continuous improvement of the product is done. Mainly the 6 sigma is about improving the quality, In order to identify defects or errors. By using 6 sigma 99.9% the defect will not be there in the product. 6 sigma uses quality management and structural methods. The customer satisfaction can be increased by using this, production cycle can be reduced, reduction of waste and reducing the cost of the project. Read MoreHarnswell Sewing Machine Company Essay1003 Words   |  5 Pagescurrently on a master in business administration. A few days ago Natalie was asked to find out how to improve quality in the process without much investment. Phase 2 One day John proposed to Natalie a project on how to improve quality in the process production but by the end of the explanation, this made him leave his office, as is assumed Natalie was very depressed about what happened and thats whereRead MoreRisks And Risk Response Strategies1736 Words   |  7 Pagesand Six Sigma. While the PDCA approach is a four-step management method that aims to improve the quality of projects by developing critical thinking (Anderson, 2011), Six Sigma is a set of tools and techniques which aim to improve the quality of process outputs by identifying the cause of defects and making the business and manufacturing processes less variable (Tennant, 2001). Six Sigma shares several similarities with the PDCA cycle, the most profound being the similar methodologies for theirRead MoreThe History and Role of Six Sigma and Lean in the Manufacturing Environment750 Words   |  3 Pagesrobotic manufacturing, replacing humans and increasing safety and productivity. We have not yet eliminated man from the manufacturing environment and corporations are always looking to achieve a greater bottom line. Six Sigma, which is statistical process control (SPC) and Lean Manufacturing which focuses on reducing waste, have helped to achieve this goal. We will look at the origins of these two tools, the first companies to employ them, the theory behind each, and the future roll they will playRead MoreSCM 3032316 Words   |  10 Pagesï » ¿Exam 3 Outline SCM 303 Chapter 12 Demand Planning: Forecasting and demand management Demand Planning- the combined process of forecasting and managing customer demands to create a planned pattern of demand that meets the firm’s operational and financial goals. Fluctuating customer demand cause operational inefficiencies, such as: Need for extra capacity resources, backlog, customer dissatisfaction, system buffering (safety stock, safety lead time, capacity cushions, etc.) 3 basics tacticsRead MoreEvaluating GEs Organizational Culture2352 Words   |  10 Pagesbusiness practices as well as work/life [sic] balance (Our Culture, 2007). Training and Education Programs: It is important for me to work for a company that provides additional training and educational benefits that will enhance employee leadership capabilities. We invest nearly $1 billion a year in career development for our employees at every level of professional growth. (Leadership Programs, 2007). Shared Values When looking at an organizations appealing values, one must first realize what heRead MoreCase Study : Integrated Devices For Plant Number 31464 Words   |  6 Pages4.02 3.97 4.02 4.00 3.97 4.01 Targeted Cpk Process capability is the ability of the process to generate outputs that meet engineering specifications or customer requirements and â€Å"refers† to the normal performance of a process when working in a state of statistical control. Process capability study is intended to provide information about the performance of the process under constant operating conditions. The process capability study can provide information to address the following:

Are People Inherently Honest free essay sample

There are numerous theories that attempt to explain the motivation behind people acting in certain ways. This paper will address three of these theories, apply these theories to how people choose to behave honestly or dishonestly, and will attempt to determine whether or not people are inherently honest. Before looking into the motivation behind people’s decision to be honest, it is important to define some key terms in order to fully understand and explore what it means to be inherently honest. Merriam-Webster defines honest as â€Å"free from fraud or deception,† or simply put, truthful. It defines inherent as â€Å"belonging by nature or habit. † The majority of people simply associate something being inherent as ‘natural’ or ‘innate’. Interestingly, this definition expands our view on what one may consider ‘inherent’ by noting how past habits can also play a vital role in how one behaves. Now that we have defined what honesty and inherent behaviour entails, we can now look at the various theories that attempt to identify the motivation behind people behaving honestly. We will write a custom essay sample on Are People Inherently Honest? or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page One of these theories is the fact that humans choose to act honestly or not based on what we feel is ‘morally good’ or the ‘right thing to do’ according to a very personal set of rules and morals. An individual’s behaviours are heavily influenced in order to satisfy this individual set of rules. Of course, there are a number of positions one can take on when defining this set of rules. Deontologists would argue that one should be honest one hundred percent of the time, regardless of the situation. They believe that it is ones’ moral obligation to behave honestly and have a duty of adhering to this universal rule. On the other hand, utilitarianism claims that the decision to act honestly or dishonestly varies depending on the situation, considering all costs, benefits, and consequences that will result from the behaviour. Regardless of the person’s moral standpoint, their choice to behave honestly or not is strongly influenced by their personal, or inherent, set of behaviours that they consider morally ‘right’. This supports the argument that people are in fact inherently honest. Another theory that attempts to explain the motivation behind behaving honestly is focused on the consequences that will result from behaving honestly or dishonestly. Uri Gneezy’s paper on the role of consequences in lying looks at how different benefits and costs influence one’s decision to behave honestly or dishonestly. From his studies, he comes to a number of conclusions describing how people conduct a cost-benefit analysis when deciding to lie or not. First, he finds that people are particularly sensitive to their personal gain when deciding to lie, meaning that they place a high priority on personal gain in their cost-benefit analysis. He also finds that people also tend to lie less when the lie harms another party. However, this harm plays less of a role in choosing not to lie compared to the increased gains from lying. This suggests that the marginal personal gain from a lie is greater than the marginal harm that is caused from the lie. Because people are constantly trying to maximize their personal utility, these findings display how one will behave dishonestly when doing so maximizes their utility. This suggests that people do not inherently behave honestly, but rather behave in a way that will create the most personal gain. A third theory that explains how people behave is based on the image that is associated with behaving honestly or dishonestly, as well as the use of excuses to justify dishonesty. There tends to be a negative stigma attached with lying; therefore, people are inclined to be honest simply to maintain a positive image of themself. There are a number of ways to look at this. First, people have a natural desire to see themselves in a positive light and like to feel that they are doing what is right. Much of this plays into the previously discussed individual set of morals that people have and doing what they consider ‘morally right’. However, there are cases when people create excuses to justify to themselves that acting dishonestly is the right thing to do. For example, if a man lies by telling his pregnant wife that she doesn’t look overweight, he will justify this lie to himself by claiming that he doesn’t want to hurt her feelings, maintaining a positive image of himself. In addition, people will tend to lie less to avoid making a bad impression to others. Similarly to above, people may use excuses to justify acting dishonestly, simply to maintain their positive impression on others. This shows that in order to maintain a positive impression of oneself on oneself as well as on others, people are inclined to behave honestly and are willing to make excuses to justify acting dishonestly to maintain this impression. This suggests that due to the natural desire to create and maintain a positive impression, people are inherently honest. The above theories and discussion suggest both that people are and are not inherently honest. This is precisely why many social scientists have difficulty in this area. On one hand, people behave honestly to satisfy their personal set of morals and to promote a positive image of themselves (in their own as well as others’ eyes), but are willing to be dishonest if it results in enough personal gain to justify the lie. From this, we conclude that one cannot make an overarching statement claiming that people are or are not inherently honest. Whether a person is inherently honest depends on how they weigh and balance the importance of their morals, personal gain, their self-image, and the image they want to portray to others.

Nintendo Strategy Case #20 Essay Example

Nintendo Strategy Case #20 Essay Nintendo’s Disruptive Strategy Case #20 Nintendo started out originally as a playing card company which then focused on electronic toys and video games. When Sony came to the United States Nintendo switched its focus to non-gamers in order to compete; the Wii was their ultimate success. Video games were initially targeted to teenagers however with the growth the target market became young adults in their 20s and 30s. In addition, video games evolved into blue-ray/HD home entertainment consoles able to hold data files and offer online libraries. Sony, Microsoft, and Nintendo tend to competitively battle every 5 to 6 years; Sony with the PS, Nintendo with the Wii, and Microsoft with Xbox. When Nintendo came out with the Wii they focused on non-gamers which were almost a completely different target market. The Wii’s easy-to-use controller increased popularity particularly among female gamers and with the dance mats and physical fitness games families were able to enjoy it together. Nintendos’ revenues nearly tripled from 2006 to 2008. Nintendo was able to turn its low cost hardware into a competitive advantage because they focused on characters instead of special effects. The Wii was half the cost of Xbox and PS games. Wii also included five simple games at no additional cost which was an additional key marketing strategy. In the United States, the Wii sold 600,000 units in the first eight days making $190 million in sales. Nintendo also outsources almost all production of the Wii. We will write a custom essay sample on Nintendo Strategy Case #20 specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Nintendo Strategy Case #20 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Nintendo Strategy Case #20 specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Their strategy was to have more than one supplier for the same part so they could get the parts cheaper which in turn further increased production. Then the Wii balance board came along, encouraging health and entertainment focusing on the non-gamers including 40 different activities from yoga to push ups. I learned that like Nintendo you have to meet the technological demands of customers in the future, which Microsoft and Sony failed to do.