Identification of managerial, financial, legal and ethical Essay - 5

Identification of managerial, financial, legal and ethical implications - Essay Example Based on such a perspective, this paper analyses the managerial, financial, legal and ethical implications associated the shortage of nurses in the industry. As already mentioned above, nurses indeed play a crucial role in the provision of healthcare services in the industry. Such an aspect is evident based on the fact that nurses usually have a direct link to patients, who are ideally the greatest stakeholders in the sector (Huber, 2006). Considering the significance of the nurses in the sector, any shortage would indeed substantively pose great challenges towards service delivery in the industry. On the managerial perspective, it is clear that the success of any organization is usually linked to the managerial capabilities. With increased shortage of nurses, the quality of service in the sector is obviously expected to deteriorate, which would then negatively affect the managerial performance of the industry (Huston, 2009). Financially, there is indeed another great challenge that the industry faces as a result of the shortage of nurses. Like in many other sectors, better finances are usually attributed to better performance as customers are in most instances attracted by quality service provisions. Based on such a perspective, it is substantively clear that with the shortage of service providers, the quality of service is likely to reduce marginally. Shortage of nurses means that the few available nurses are overwhelmed with the duties they are expected to perform thereby causing distress in their performances. Once distressed, the nurses are then unable to perform at their best, therefore, reducing the quality of services (Cowen and Moorhead, 2011). With reduced quality of service delivery, fewer individuals would be seeking for medical services from a facility that faces a shortage of the service providers, an aspect, which would affect the financial

Compare and contrast Austrian and Post-Keynesian theories of the Essay - 1

Compare and contrast Austrian and Post-Keynesian theories of the competitive process - Essay Example By removing barriers to trade, globalization aims to make business people in developed countries able to maximize cheaper human and non-human resources in developing countries. As a result of globalization, the modern business society changes in such a way that it establishes new business conditions and challenges in exchange of the previous ones. In general, the presence of market failure could adversely affect the socio-economic well-being of each individual. To avoid going through the socio-economic consequences associated with market failure, professional economists are continuously searching for effective economic strategy that could minimize the risk of developing a market failure. Competitive process is an integral part of economics. In line with this, the act of stabilizing an unstable economic condition is possible through the use of micro- and macro-economic policies. In relation to the importance of analyzing competition in the market, this study will compare and contrast the Austrian and post-Keynesian theories of competitive process. Upon reflecting the current market competition as a result of globalization, the advantages and disadvantages of the Austrian and post-Keynesian theories of competitive process will be tackled in details as part of the study conclusion. Both the post-Keynesian and Austrian economics have some argument or complaints with regards to the economic ideas presented by the neoclassical economic theories (Kirzner, 1997; Boettke, 1994, p. 220). In line with this, the post-Keynesians theory of competitive process does not accept the idea of neoclassical’s general equilibrium. It means that general equilibrium is not possible due to the fact that the market changes constantly and is often uncertain because of a lot of internal and external business factors (Brothwell, 1992, p. 193). Similar to the stand of post-Keynesian with regards to the theory of equilibrium as proposed by the neoclassical theory particularly with