Discuss the strengths and weaknesses of the Fair Work Act 2009 Essay

Discuss the strengths and weaknesses of the Fair Work Act 2009 - Essay Example The act focuses on the key parts such as the employment standards of a nation, contemporary awards in the workplace, industrial action, minimum wages, unfair dismissal, office fair work and enterprise agreements. Organisations exists for a purpose but regardless of particular resource in an organisation, HR managers play significant roles in the organisation and they are the key ingredients for organisation success. HR manager controls and manages financial resources, people and other aspects; thus a number of varied things should be taken into considerations in order to transform the nature of work and workplaces in which they are performed. Among these aspects is making significant amendments to industrial relation systems; thus employing more innovative HRM practices such as communicating clearly about organizational policies is vital. The strengths of the Fair Work Act 2009 The aim of the FW Act is to offer a balanced framework for productive and supportive workplace relations, w hich promotes state economic prosperity and social aspects for all Australians (Harpur, 2012, 190). Under this act, employees and employers may bargain collectively to make enterprise agreements in respect of the terms and conditions of employment. The FW Act offer an effective bargaining process in the workplace and this is where agreements between bargaining representatives who represent employers and employees bargain in good faith in order to come to an agreement. Mondy, Noe and Gowan (2005, p. 45) point out that the essential function of the HRM in an organisation is to create and maintain a productive, as well as, a healthy and safe working environment for all stakeholders. The core activities of the human resource manager include offering job analysis, recruitments, retaining employees, and recruiting, training or compensating employees. Regardless of the size of an organisation, HRM should perform their work well by managing and improving the skills of employees in order to create successful organizational performance. These activities take place within a framework of legislation that establishes minimum standards and prospects regarding acceptable behavior in a business entity (Briscoe, Schuler and Claus, 2009, p. 32). The FW Act has been wholly operational since the commencement of the year 2010 and it substituted the workplace relation or work choices amendment Act of 2005 (Manuel and Law Society of South Australia, 2009, p. 51). The FW Act is imperative because it enables employees to adjust the employment costs, workforces or flexible working hours to suit subdued demand (Sloan, 2010, p. 19). Employers in some sectors are concerned with modern awards in the workplace and unfair dismissals while others are concerned with the federal minimum wage; thus the FW Act is vital in the workplace. Many organisations such as the Australian organisations faced turbulent business and economic issues during the 1970s but the implementation of the FW Act 2009 ha s created significant changes on the way organisation perform their functions in the contemporary business world. The FW Act offer flexibility in the workplace and this is significant because it contributes to increased productivity in the workplace. Offering work flexibility is one of the significant aspects that have enabled many human

Return on Financial Assets Math Problem Example | Topics and Well Written Essays - 1000 words

Return on Financial Assets - Math Problem Example tainty (low risk). In other words, invested money can earn higher profits only if there is a possibility of it being lost. Likewise, a corporate bond has several risks attached to it such as term to maturity risk, degree of liquidity risk and its credit rating. Each bond is discussed below with regard to the risk attached to it. I. Bond X will earn the highest return because of low credit rating which means that agencies regard this firm as highly risky. Moreover, it also involves maturity risk and degree of liquidity risk which is assumed as it is not stated. II. Bond W will earn a lower return in comparison to X but higher than Y and Z, as it is rated better by the rating agency which denotes low risk in terms of business operation. However maturity and liquidity risk exists which makes investor hesitant to take it unless it offers required return for it. III. Bond Y will yield more than Z but less than W and X because of its high credit rating, low term to maturity risk which is e vident from the fact that investor will get his principal amount back before investor of bond W and X. But still it contains liquidity risk which will result in paying a higher return than bond Z. IV. Lastly, bond Z will yield the least amount of return as it does not have liquidity risk, maturity risk and neither low credit rating. Investors won’t demand high return as their investment is relatively safe. 2. Explain how an economist could use the slope of the yield curve to analyze the probability that a recession will occur and why the spread may matter.   Answer: Yield curve shows a relationship between yield and maturity of a debt instrument. Its slope has always been a good indicator of economic movements, as it can indicate where investor sentiments are heading. It indicates investors’ expectation of economy and interest rate. A sharply upward sloping, or steep yield curve, has often been an indication of an economic shift. Yield curve can indicate upcoming rec ession when it starts to invert. It occurs when long-term yields fall below short-term yields (Besley and Brigham, 2000). Under anomalies, if investors think that economy will slow down or decline in the future they will be satisfied with lower yield. Inverted yield curves also suggest that the market is expecting inflation to remain low. This is because, even if there is a recession, a low bond yield will still be offset by low inflation. 3. One year ago, you bought a bond for $10,000. You received interest of $400 at the end of the year, as well as your $10,000 principal. If the inflation rate over the last year was five percent, calculate the real return. Show your work.   Answer: Real return of a security is calculated by discounting the interest earned and principal invested to (t=0) i.e. today and then finding percentage return of the investment. For the above given question, firstly, principal amount and interest earned is added to get $10,400 and then discounted at a rate of 5%