Compensation (HRMD) Essay Example | Topics and Well Written Essays - 1000 words

Compensation (HRMD) - Essay ExampleConsequently, the desirable outcomes such as reduction in poverty, greater availability of short-term employment opportunities, profit in GDP etc. are obtained, which lead to societal well-being and prosperity. For instance, technological advancement increases labor productivity, process and product innovation, specialization, communication and transportation networks. In turn, the economies of scale (mass production) is observed, which reduces total business costs and lowers market prices. Finally, the aggregate consumption and occupy increases because of overall improvement in economy.However, any underlying weaknesses or negative feedback may transform a virtuous into a vicious circle. In contrast, the last mentioned has undesirable outcomes and negative consequences such as increase in poverty and unemployment, economic contraction, low aggregate consumption and output etc. For instance, constant increase in money supply may result in infla tion that, in turn, entrust reduce real incomes in society. Consequently, the aggregate consumption will reduce and economy will observe negative growth rate (Samuelson & Nordhaus, 2009).The Organizational structure refers to internal managerial system and hierarchy. In fact, it showcases the how tasks into departments are assigned, how they are delegated and how decision-making and implementation is being done and at various managerial levels. Indeed, the organizational chart is a diagram that shows the top, middle and first-line management levels as well as reveals the structure (vertical functional, divisional, matrix, virtual and networking) that firm has adopted. The internal structure is extremely important in todays new workplace business environment because it determines the range of command, which refers to the authority executives enjoy because of their position based on which they are deemed responsible for decision-making, problem solving, strategic planning,