Does Oil Price Shocks Affect Business Cycles - 994 Words

It is often said that oil price shocks affect business cycles, triggering a detrimental effect on the economic activity of some countries when they rise and a favourable effect when they fall. One instance could be the U.S., where the data suggests that most recessions after 1973 have been headed by oil price increases, which is often taken as evidence of recessions being caused by oil price shocks. This brings up to question through which channels oil price shocks might be transmitted to economic activity, to what extend specific countries and the global economy can be affected by oil price shocks and whether there is a coincidental relationship between oil prices and recessions as a result of a correlation of the former with other†¦show more content†¦Unless savings are reduced or borrowing increases, the deterioration in the terms of trade may trigger lower domestic consumption in net oil-importing economies . Besides the effect in the terms of trade, an oil price increase may have immediate effects on aggregate demand by means of higher consumer energy prices since inflationary pressures reduce consumers’ real disposable income, and, therefore, consumption. This is known in the literature as direct first-round effect. The size of the direct effect of an oil-price increase depends on the share of the cost of oil in national income, the degree of dependence on imported oil and the ability of end-users to reduce their consumption and switch away from oil . On the other hand, producers in oil-importing countries will face higher production costs with negative implications in profits since their short term ability to react to oil price increases by substituting to another source of energy is limited . Firms may respond to this by either reducing supply or pricing, thus creating inflationary pressures. In addition, firms may postpone or even cancel new investments fearing further oil-price increases in the future. Changes in consumer prices that occur as a result of the impact of oil prices on production costs are known as indirect first-round effects and they depend on theShow MoreRelatedEconomic Variables And Monetary Policy1478 Words   |  6 PagesAs was mentioned above rising in oil prices influence the increase in inflation. And it is big dilemma for monetary policy, because arise a question what should central banks do? Should they tighten monetary policy to correct the effects of oil prices increases and prevent inflation? Or th ey should take in oil prices increases with easy monetary policy to support growth of output and employment. In this situation, central banks have these two main problems. The point is that central banks can doRead MoreEconomic Growth Of A Recession1433 Words   |  6 Pagesrepresentation because it indicates a nation’s viability. It is rather pertinent for a nation to be able to forecast the economy and know where along the business cycle the economy is headed. There are multiple macroeconomic indicators that are analyzed to make lucid a nations economic condition, such as foreign direct investments, oil prices, and employment. In this paper, we will be analyzing the causal relationship between interest rates and recessionary periods, pertaining particularly to TheRead MoreMeasuring Price Sensitivity And The Macroeconomic Environment Essay1625 Words   |  7 PagesBijmolt, Van Heerde, and Pieters (2005) price sensitivity is one of the most widely studied disciplines of ma rketing fields, however there are fewer studies detailing the relationships and microeconomic factors between price sensitivity and the macroeconomic environment. This report explored each category listed below, as businesses, in particular, XYZ Company, must use microeconomic principles to make and validate decisions based on the following factors: price elasticity, consumer choices, productionRead MoreThe Price Of Oil Prices1973 Words   |  8 Pagestheorised in 1931 that since oil is an exhaustible resource that once burnt cannot be reused, the price of oil should exceed the marginal cost even in a perfectly competitive market. This is a result of unavoidable geographical limits, if we assume the short-run demand price elasticity of -0.10 and we know that next year oil production will be 90%, this means that the price will be double what it is today. In this example it would make sense for the producer to ‘store’ the oil in the ground waiting toRead MoreThe Price Of Oil Prices1911 Words   |  8 Pagestheorised that since oil is an exhaustible resource that once burnt cannot be reused, the price of oil should exceed the marginal cost even in a perfectly competitive market. This is a result of unavoidable geographical limits, if we assume the short-run demand price elasticity of -0.10 and we know that next year oil production will be 90%, this means that the price tomorrow will be double todays price. In this example it would make sense for the producer to ‘store’ the oil in the ground waitingRead MoreSupply and Demand and Stationary Aggregate Demand4063 Words   |  17 Pagesfluctuations in real GDP and the price level. B) long term growth. C) price fluctuations in an individual market. D) output fluctuations in an individual market. 2) The aggregate demand curve shows the relationship between the ________ and ________. 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In the US and Europe reserves of crude oil peaked in the 1970’s and since then with only few notable exceptions extraction has outstripped additions to reserves. Oil is an exhaustible and finite resource, therefore it’s price must not only reflect current supply but future supply in order to reflect scarcity. It must be assumed that as reserves are an indicator of scarcity they should be important anRead MoreA Fixed Exchange Rate Regime2102 Words   |  9 Pagesstudies propose real exchange rate instead of nominal exchange rate. the government announces the value of its currency in terms of the anchor currency, and the central bank is committed to buy and sell its currency at the fixed rate. The Persian Gulf oil exporting countries follow a peg exchange rate regime; they do not have the proper institutions and central bank credibility to go for a floating exchange rate regime, which is the regime that the developed commodity exporters such as Australia, CanadaRead MoreFluctuating Price of Oil and How It Affects the Global Economy5248 Words   |  21 PagesFluctuating price of oil and how it affect the global economy Abstract: The oil prices have started rising significantly since the initiation of the twenty first century. Theoretically, one can judge the impact of an oil price shock. The immediate effect of the oil price shock is the increased cost of production due to increased fuel cost. This creates an inflationary effect (mainly cost push inflation which is accompanied by a situation of unemployment). Whenever there is an overall inflation

Analysis Of Atwood s The Book - 873 Words

In the book, Atwood tells the reader how women were used as political instruments. The state in the story is rigid politically, and its structure is based on controlling reproduction as the birth rates were too few in the state. The women’s’ duties were to reproduce. The state or government here oppresses women by controlling their rights to own property, be employed; voting rights and all other rights that would liberate them from subjectivity were banned. They were not supposed to be independent as it would make them look down on the government or their husbands. The women were thus not treated as human as they were only perceived as owners of a womb and ovaries. Offred, the main character reflects on it and comments that before the state of Gilead she had seen her body as her instrument of desires but now she felt as a mound of flesh that surrounds a womb whose use would make her worthy. The state of Gilead also makes it illegal for women to be employed and further d emeans them by giving men titles associated with their military rank and women solely perceived on gender roles like being a wife. The women in this society do not identify themselves with individual names of which they are stripped off by the society. The state of Gilead is patriarchal in nature, and the women are oppressed undoubtedly as they have no upward developments like the men. A man can rise from being a guardian to the title of Angel, but the women can only go downwards from wives to widows orShow MoreRelatedThe Handmaids Tale1450 Words   |  6 PagesHandmaid s Tale Fact or Fiction The Handmaid s Tale is a dystopian novel in which Atwood creates a world which seems absurd and near impossible. Women being kept in slavery only to create babies, cult like religious control over the population, and the deportation of an entire race, these things all seem like fiction. However Atwood s novel is closer to fact than fiction; all the events which take place in the story have a base in the real world as well as a historical precedent. Atwood establishesRead MoreThe Handmaid s Tale, By Margaret Atwood1629 Words   |  7 Pages Atwood s novel, The Handmaid s Tale depicts a not too futuristic society of Gilead, a society that overthrows the U.S. Government and institutes a totalitarian regime that seems to persecute women specifically. Told from the main character s point of view, Offred, explains the Gilead regime and its patriarchal views on some women, known as the handmaids, to a purely procreational function. 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In The Odyssey, the descriptions of the women and their lives is written from a masculine perspective, and does not relay the true depth of the female characters role, especially not Penelope. The Penelopaid however, tells the story fromRead MoreLove And Loss : Happy Endings By Margaret Atwood3620 Words   |  15 Pagesof love and loss many thoughts can enter one s mind. Love and loss can be seen as painful, unfortunate, depressing. Most people would relate love and loss to romantic relationships that ended in breakups; on the contrary, â€Å"Confession Day† allows people to confess the pain they have felt through any of their losses. In the poems â€Å"She Walks in Beauty† by Lord Byron, â€Å"Dover Beach† by Matthew Arnold and in the short story â €Å"Happy Endings† by Margaret Atwood, it is noticed that love and loss can happen

Diversity Audit free essay sample

The purpose of this project is very simple to find out how much of PHICON its diversity conscious to be able to perform efficiently in their jobs. PHICON as an organization seeks to conceptualize, produce and implement healthcare technologies that improve health care encounter outcomes while reducing cost through improved system efficiency. It also seeks to provide health related education to patients there-by improving health outcomes. Having employees that can have a clear perspective on the mission, values goals and objectives can provide PHICON the added advantage it needs to be a fore runner within its work. Should our research prove that PHICON diversity initiative is non existing or weak footing in its philosophy then diversity initiative will be recommended to give PHICON an edge and also align their practices with reasonable expectation in today’s corporate world. To the best of my knowledge PHICON does not have a diversity initiative in place and has never conducted a diversity audit. The diverse structure of this company shows the various roles within each department from corporate management down to the actual labor force doing the work. Conversely, without proper management skills, managers could neglect to acknowledge the role of each part of the corporate structure. Therefore, a unique form of audit is necessary, a form of audit that can deliver information of how well the company manages the diversity of its resources. In order to perform this audit properly, a set of sound criteria is required. I will be evaluating the diversity initiatives of UPS, one of the most prolific package delivery service companies in the world. The assessment will indicated whether or not UPS has a sound ability of diversity management. Diversity Audit I. UPS Organizational Background I. 1. Corporate History Until today, United Parcel Services Inc. is the largest package delivery company in the world in terms of delivery scale. The company delivered more than 10 million packages to millions of destinations in 200 countries. The company has been around exactly a decade in 2007. It was established in Seattle in 1907 by the 19 year old Jim Casey. It was not until 1919 that Jim Casey and his partners Evert McCabe and Charles W. Soderstorm decided to establish the name United Parcel Services because the business has been expanding outside its home city (Friedman, 2006). I. 2. Corporate Business Culture and Scale The company is created with the basic perspective that the best services combined with lowest rates will win the market’s attention. Since the beginning, leaders of the company managed its staff by stressing the value and importance of reliability, low rates, customer courtesy and round the clock services. The business culture remains at the core of UPS activities until today. Today, the company is the one of the most recognized symbols American capitalism with $42. 6 billion worth of assets and more than 400,000 employees (Friedman, 2006). I. 3. Delivery Service Industry Since its inception, the company has been living in an environment of harsh competition. Even back in 1907, there are already several other players in the delivery service industry that threaten to take away UPS’s market share. Today, the competition does not lessen. Some of the notable competitors of the company are FedEx, United States Postal Services, and DHL (Friedman, 2006). I. 4. Operational Management The company is built on a highly integrated and highly efficient network structure. Throughout the history of the company, it has always displayed considerable attention to efficiency, cost effectiveness and environmental concerns in performing its daily operations. The company operates various types of delivery services, whether it is air and ground in nature, domestic or international in nature and commercial or residential in nature. All of these operations are performed through a single network (‘Overview’, 2007). Managers of the company believed that the integrated operating model maintained by the company will deliver significant benefits in respect of many performance evaluation criteria, like employee management, environmental issues and financial viability. UPS defines itself as the first delivery service company that has the ability to synchronize the flow of goods, information and funds into a single integrated form of service. Managers and employees at UPS have worked hard to build the scale, the infrastructure, the financial foundation and the specific expertise to give birth to such synchronized form of service (‘Overview’, 2007). I. 5. Technology and Innovation in UPS Mostly, the company is proud to promote its high-tech communication technology employed to assist its operations. Managers of the company ensure stakeholders that technology always powers every line of service they offer. For instance, a PLD (package level detail) is always created to guide UPS officers in their global delivery operations. Each PLD is built from the information delivered by UPS customers through UPS electronic information system. UPS delivery officers are also guided by UPS package routing technology which is designed to enhance timeliness and reliability of package delivery, reduce fuel consumption and also provide customized solution for customers’ variety of needs. Moving into the future UPS managers promised their stakeholders that they will continue to focus on constantly reviewing UPS processes and introduce new initiatives to maintain and improve their sustainability. This goes for every dimension of the business, economic, employee management and social contributions. For instance, for community investment activities, UPS had more than 20,000 of its employees to volunteer 100,000 hours in more than 40 nations worldwide (‘Global Workforce Development’, 2007). II. Selected Criteria An organization is generally comprised of a diverse set of supporting elements. These elements include board members, employees, suppliers and consumers. Corporate ability to manage such condition is often paramount to corporate growth and success. Thus, there should be a system of evaluation that has the ability to measure the effectiveness of organization’s effort in managing existing diversity within the business environment. In this paper, we are evaluating UPS’s effort in managing diversity within the corporation. In order to come with presentable results, I will provide a set of criteria that will be the basic of evaluating diversity management in UPS. II. 1. Diversity Audit Background Prior to defining those criteria, I will provide a reasoning of why a diversity audit is required in the modern business environment we live in. A diversity audit is important because the feedback gained from the process is important to aid recognition and prevention of future problems. The process will also allow employee to submit their inputs which will enhance sense of ownership throughout the workforce. It will help managers identify staff development need and enhance the value of the entire organization. In other words, it will shed lights to previously unmanaged issues, promoting both awareness and improvement. The audit should be performed in the best time relative to each organization’s needs. However, managers should pay attention of the specific criteria that are required to support a successful diversity audit. Some of those important criteria are for successful diversity audit are: perceived need from people in power, commitment from people of the dominant culture, and allocation of necessary resources. II. 2. Audit Criteria In reviewing diversity management of a company, it is important to have both a quantitative and qualitative sets of criteria. For example, a quantitative set of criteria include: 1) Demographic and representation 2) Career development management 3) Absenteeism ) Studying the prevalence of a group compare to other in the workforce 5) Pay equity, studying the equality of pay between people in the same job 6) Promotions equality 7) Recruiting management 8) Productive measures, studying the level of productivity of a group compare to others 9) Sales figures; employee retention; training costs (Ball, 2004) On the other hand, qualitative measures include: 1) Evaluating the results of suggestion boxes, hotlines, and web pages 2) Evaluating the benefits provided by the company, whether they are accommodative in nature or not 3) Benchmarking from best practices ) Reviewing the diversity initiatives objectives 5) Assessing the business climate and business culture 6) Existence of training and mentoring program 7) Existence and Evaluation of recognition programs and the reward system 8) Assessing corporate reputation 9) Evaluating internal and external customer satisfaction 10) Assessing teamwork, whether or not members of the company has a team-oriented atmosphere, how often does friction occur? (Ball, 2004). III. Diversity Management in UPS The company consists of diversity issues in several dimensions. Below is the condition of those diversity issues and corporate efforts to address them. III. 1. Diversity of UPS people UPS has a multicultural workforce. Managers stated that the diversity of UPS’ people reflected the broad attributes of UPS global business and global community. The company’s workforce consists of various ethnicity, gender, age and culture. UPS managers do not discourage differences to achieve control, but rather they encourage diversity by assessing the value of different cultures in terms of experiences and perspectives. UPS stated that diversity is valuable because it allows wider range of skills, ideas and resources. The company believed that diversity will impact UPS’ business in respect of many economic and social perspectives (‘Diversity at UPS’, 2007). III. 2. Diversity of UPS Community As provider of global package delivery service, UPS exist in a community of vast diversity. Realizing the nature of the business, UPS has always been attentive to the community in which it operates and lives. UPS displayed partnership agreements with local as well as international organization to improve social condition in the communities where the company exists. Managers of the company believed that this is important not only to sustain corporate existence but also to sustain corporate growth (‘Diversity at UPS’, 2007). III. 3. Diversity of UPS Customers Being an international package delivery service provider, the company also has customers with vast nature of diversities. Among other diversity issues, this is perhaps the most influential toward corporate growth. This is true because customer diversity requires the company to understand different needs and preferences of each customer demands before delivering the service. UPS managers however, do not see customer diversity as a threat, but rather as a challenge for corporate operating teams. As the company expands to various different locations with different cultures and people, the company strives and learns how to address individual needs of customers (‘Diversity at UPS’, 2007). III. 4. UPS Supplier Diversity The company also has various types of supplier according to their size, locations and the way they do business. UPS believed in supporting its business partners for mutual benefits. Thus, the company develops strategic elationships with all kinds of business partners, including minority and women-owned business. Managers of the company stated that they are committed to ensure that their supplier diversity does not weaken, but rather strengthen the minority and women owned business, because they believed that the action will drive economic development in the communities in which UPS is operating, and in the end enhances economic ca pability of UPS’ markets. UPS believed in establishing a diverse supplier network and gaining benefits and momentum from the various kinds of contributions from the diverse supplier (‘Diversity at UPS’, 2007). III. 5. UPS Diversity in Board Members UPS has a diverse board structure which represented the various influential cultures behind UPS’ decisions. Similar to their attitude in addressing workforce diversity, UPS take advantage of the diversity in their board to the best benefit of the company. Strategic contributions from different perspectives are encouraged to reflect the preferences of different cultures in the community in which UPS operates. IV. Evaluation of UPS Diversity Initiatives In order to cope with limited available data, I will perform both quantitative and qualitative assessment on corporate diversity management initiatives. The criteria mentioned above will be utilized to evaluate UPS on the basis of available information provided by the company in its official website. IV. 1. Feedback Facility Assessing how the company creates chances for the workforce and managers to send their complaints and suggestion to the company revealed corporate sensitivity toward differences in preferences and needs of members of the company. Companies who provide many opportunities for members of the company to send suggestions will have a better awareness of diversity issues rather companies who neglect to provide the chance. UPS has an employee feedback program called the Employee Opinion Survey (EOS) since 1983. The EOS is annual a voluntary in nature. It has the objective of: creating positive attitude and a customer focused workforce, identify areas of concerns, enhance awareness to employee management issues, and helps the company achieve its goals. In 2005, the survey was promoted globally in all UPS offices and 88% of the UPS communities participated within it. This is considered a healthy development considering the survey was performed completely voluntary (‘Employee Opinion Survey’, 2007). IV. 2. Employee benefits The way UPS manages diversity issues within the company can also be assessed by observing corporate benefits program. A transparent, equal and efficiency-supportive benefit program indicated better diversity management initiatives. In the case of UPS however, there is no elaboration of employee benefit program. IV. 3. Benchmarking and Cooperation Working together with other companies is a good indication of diversity awareness. Companies who never compare itself with other companies will have much larger risk of lacking diversity awareness as it is performs its daily operations. Therefore, a good diversity awareness program is the one that involves various partners and relevant companies. In the case of UPS, the company work together with more than 20,000 businesses across America to create a strategic relationship with minorities within the industry. The program of ‘UPS Supplier Diversity’ is actually launched in 1992, with the commitment to provide business opportunities to small companies, minority companies and companies owned by women (‘Diversity at UPS’, 2007). In 2005 alone, the company spent more than US $ 249 million to minority and women-owned business. However, managers of the company stated that they are far for finish. The company is currently striving to enhance the level of contributions in the Supplier Diversity Program that involves the entire line of UPS businesses worldwide. As mentioned previously, the company has been working with various organizations to address its diversity issues. Some of those organizations are: the Hispanic Chamber of Commerce (HCC), 100 Black Men of America (100 BMOA), Women’s Business Enterprise National Council (WBENC), and Organization of Chinese Americans (OCA). UPS is actively participating in local and national women and minority business groups. For instance, UPS is registered an active member of 36 out of 39 National Minority Supplier Development Council (NMSDC) (‘Diversity at UPS’, 2007). IV. 4. Diversity Initiatives Objectives The printed vision statement is ensuring workforce, customer and supplier diversity remains at the core value of the business and community relationship. This displays managerial understanding the diversity is a requisite of successful global operations. Rather than avoiding diversity issues, it is wiser to use them as weapons that enhance corporate capability and creativity in solving problems and promoting growth. IV. 5. Business Culture Diverse business cultures are lot more difficult to maintain compare to a company operating under a single business culture. Therefore, despite promoting diversity within the organization, good managers must also foster a single set of corporate cultures and values will guide members of the company in achieving common goal. Today, UPS has 400,000 employees working in the designed atmosphere of respect and cooperation. In 2005, 28% of officers and managers of the company are women and 30% of officers and managers are of minorities. % of the company’s workforce is Asian, 16% are Black, 9% are Hispanic and 1% is Native Americans. From the Board of Directors, 17% are recorded female and 8% are minorities (‘Opportunity and Diversity’, 2007). IV. 6. Mentoring and Training Program From their employee management programs and trainings, the company displayed acceptable understanding that diversity is more than just different ethnicity, age and gende r, but also different way of thinking and behaving toward life. The company performs all activities of recruiting, training and promoting employees and managers based on work-related criteria. These policies are designed to support fair employment and labor management practices in UPS. IV. 7. Reward System The characteristic of a reward system indicated how the company took account of its workforce. Some companies differentiate reward system between employees of different race because of efficiency reasons. This is highly discriminative and disruptive toward the working environment. UPS however, have stated that their employee management code of conduct ensures that all members of the company will be treated equal. IV. 8. Customers and Supplier Satisfaction Within their corporate website, the company stated that they have pledged their commitment to small, minorities and women-owned business partners and suppliers that they will: †¢ Appoint specific people to perform the task and assume the responsibility in reviewing further business opportunities available with small, minorities and women-owned businesses. †¢ Ensure that all partners and suppliers of the company meet the standards of UPS. This includes meeting corporate quality, costs and delivery objectives. The company promised that it will review supplier application and certification as quickly as possible and get back to applicants as soon as possible with their status. (‘Supplier Diversity’, 2007) IV. 9. Teamwork Managing diversity within the need for good teamwork is quite a challenge even for experienced managers. This is why teamwork quality assessment is also an important part of any diversity audit undertakings . In the case of UPS, the company has a unique way of ensuring that its people are always motivated and ready to do the job. UPS designed their diversity charter with the philosophy that people will do their best if they are provided a working environment where they can feel pride and dignity within their contributions. Thus, their entire employee management regulations are based on the need to motivate teams in UPS’ workforce. Furthermore, UPS believed that a working environment which encourages talent will foster further employee retention. IV. 10. Recruitment Preferences in recruiting based on non-performance-relevant criteria often occurred in the world of human resource management. Disrespecting diversity taking advantage of it in the false manner will easily generate such manner. In UPS however, the company hires people from diverse background. In the United States, corporate workforce consists of Hispanics, Asian Pacific, African-American, and other minorities who account for about 35% of the total employee of UPS. IV. 11. Employee Retention and Career Advancement Corporate Diversity activities are expressed within corporate policies and procedures. In the UPS Code of Business Conduct it is stated that each individual within the company will be treated fairly. The company also regulates employee management policies within its Professional Conduct and Anti-Harassment Policy. The rules prohibit any form of workplace harassment, whether they are sexual in nature, race, national origins, age or religion. UPS also provide training to educate employees on the Professional Conduct and Anti-Harassment policies. UPS is working together with existing labor unions to maintain the fulfillment of employee’s rights but also upholding working quality. This is recorded within the UPS Policy Books. The labor agreements include wage rates and working conditions. Considerations to make the final decisions took account of the unique operations of the company and involve top leaders of the company. IV. 12. Demographic and Representation In further assessment of corporate diversity awareness and diversity initiatives, we can assess the extent to which each different group within the company (whether they are based on race or gender) are represented in managerial positions as well as other strategic positions. In 2005, census recorded that minorities accounted for 50% of UPS’ new employees in 2005. In terms of managerial workforce, the company displayed a slightly weaker performance. 0% of the entire US managers are representing minorities, this already include district managers, UPS Management Committee and UPS Board of Directors (‘Opportunity and Diversity’, 2007). In this diversity assessment we must also take account of the fact that UPS has a Diversity Steering Council, which responsibility is to foster and encourage work force’s and partners’ commitment to the company. The council consists of internal and external representatives. The internal representatives include Chairman and CEO, Senior Vice Presidents, and The Director of Human Resources and Public Affairs. IV. 13. Corporate Reputation Assessing corporate reputation is often neglected as an effective method of evaluating diversity management. However, this is also a useful tool to assess past performance of the company and its most likely future. For UPS, one of the apparent achievements in this respect is that the company ranked one of the ‘50 best companies for minorities’ according to Fortune Magazine. The company is also known by the Hispanic or Latino society for being one of the companies that perform tremendous effort in creating job and business opportunities for Hispanic Americans. In the world of women, UPS has also win awards for its equality in managing gender diversity. V. Recommendations Being a global package delivery service provider, the company simply has more needs to address its diversity issues rather than most companies. Having the need to understand customer preferences and local areas is also indicating the need to pay attention to diversity issues even more. Furthermore, strategist might suggest that the company take advantage of its diverse nature of workforce to get to know local conditions in each of the targeted markets. The evaluation of UPS’ diversity initiatives displayed previously indicated that the company has a high sensitivity toward diversity issues within the company and its roles on corporate operations. However, some posts are neglected as the company aims for costs efficiency and production effectiveness. Some of these posts are the workforce reward systems and employee benefits. These two posts can be extremely important in influencing how the business is run, with regards to diversity issues or not. I am suggesting that the company reveal its benefit systems more transparently because such information is unavailable in the corporate website. On the other hand, a more supporting reward system is also necessary although there are little criteria available to judge which one deserves a reward and which one a punishment. It is also important to let people know when managers of the company deserve to have a treat. Managers of the branches should pay attention to suggestions delivered by both professional and un-professional worker. The diversity initiatives are sufficient to maintain integration and cooperation of the organization. There is work needed in the following are areas need more work, like employee benefit and reward structure. Bibliography Ball, Calvin B. 2004. ‘Diversity Metrics: A Guide to Constructing an Inclusiveness Audit’. Diversity Training Group. Retrieved February 21, 2007 from ‘Diversity at UPS’. 2007. Retrieved February 21, 2007 from http://www. ups. com/search ‘Economic’. 2007. Retrieved February 22, 2007 from http://www. ups. com/search ‘Employee Opinion Survey’ 2007. Retrieved February 22, 2007 from http://www. ups. com/search Friedman, Thomas L. ‘2006. The World Is Flat: A Brief History of the Twenty-first Century’, New York: Farrar, Straus and Giroux, updated and expanded, pp. 167-176 ‘Global Workforce Development’. 2007. Retrieved February 22, 2007 from http://www. ups. com/search ‘Overview’. 2007. Retrieved February 22, 2007 from http://www. ups. com/search ‘Opportunity and Diversity. 2007. Retrieved February 22, 2007 from http://www. ups. com/search ‘Supplier Diversity’. 2007. Retrieved February 22, 2007 from http://www. ups. com/search ‘Worldwide’. 2007. Retrieved February 22, 2007 from http://www. ups. com/search