- Published: October 31, 2021
- Updated: October 31, 2021
- University / College: Temple University
- Level: Doctoral Studies
- Language: English
- Downloads: 1
Running head: Management Management [Institute’s Management According to the articles provided, the answer to the question of unemployment can only be answered by people who have very strong political and business acumen. The writer proposes that one such intelligent person is the President of Federal Bank; Mr. Narayana Kocherlakota who believes that the problem of unemployment is not a government issue. Many organizations require employees but they are unable to find the suitable people for certain jobs that they have to offer while it is hard for employees to find a suitable job for themselves. So the problem does not lie on the part of the Government but it is there due to the improper placement of people. According to the former president of United States, unemployment is not structural but it is largely due to the incapability of the firms to hire professionals suitable for the jobs. In other words, the people being hired are not competent enough for the jobs being offered to them.
One of the solutions to this problem should be the development of a proper Human Resource system that would facilitate all the companies to hire people who perfectly fit in the given criteria. Job descriptions for each post should be developed and talent hunt should be conducted subsequently.
However, the problem faced by USA is much more deep-rooted than this. While other developing countries like China are building on their core-competencies and looking for newer and bigger entrepreneurial ventures (for example, electric car manufacturing), USA is spending billions in Afghanistan. This is very dangerous for the country. USA should therefore invest in discovering new avenues for economic growth, rather than being so politically active in wars all around the world. Otherwise China will become an economic superpower in the upcoming years and USA will be importing products like electric cars from China.
Friedman, T. L. (2010, September 25). Their Moon Shot and Ours. Retrieved October 30, 2011, from The New York Times: http://www.nytimes.com/2010/09/26/opinion/26friedman.html
Krugman, P. (2010, September 26). Structure of Excuses. Retrieved October 30, 2011, from The New York Times: http://www.nytimes.com/2010/09/27/opinion/27krugman.html