Extra Credit Essay Example | Topics and Well Written Essays - 500 words - 5

Extra Credit - Essay Example At one point, some of the house owners could not sustain the charges and opted for the house to be taken by the bank (Ciro 68). The value for the mortgage dropped in two years to almost 50%, which represents a tremendous loss for the bank. The drop in sales and demand for mortgage made recovery of loans impossible. Many house sellers were making losses, while the bank was speculating for change in demand, which never occurred. The result was surplus of housing units with low demand affecting the prices of the housing units. The mortgage industry was among the main sectors that contributed to the financial crisis by creating price reduction. With the massive losses incurred from the mortgage industry, it was impossible for the banks to survive because of reliance on the mortgage as collateral. The losses were reflected on the bank balance sheet leading to increased liability. The continuous drop in value of housing unit did influence the uptake of loans. Initially, loans were taken with some areas such as California having bigger loans due to the cost of housing (Tongue 86). The number of customers willing to buy housing units has been decreasing while the house construction companies are constructing new houses. The result of the imbalance is the surplus witnessed in the mortgage industry. Bank lending was affected. Banks refuse to lend because of the volatility of the market leading to the panic in the market. In response to the reduced lending, the prices of mortgage came down significantly leading to increased losses in the banking and mortgage sectors of the economy. The capital and financial markets were affected. The effect lasted despite efforts of the government to provide bail out. The bail out did not achieve its goal because the liability in the financial sector had surpassed the availed finances. The steady decline in the value of the

Evaluation of Agency's Human Resources Management Research Paper

Evaluation of Agency's Human Resources Management - Research Paper Example Ray Consortium is an agency located in the US. I did a research that revealed that this agency has processes and systems that intersect between information technology and human resource management. One of the agency’s major components of human resource processes for hiring and retaining is the enterprise-resource-planning package (Department of Administration, 2004). In this package, the agency merges human resource management as a doctrine with its basic human resource processes and activities, within the field of information technology in particular (Lawler, 2004). With the emergency of enterprise resource planning software, this agency added its crucial components of planning to incorporate data processing systems programs that standardize routines and integrate information from and within various applications towards a single universal database. According to the human resource manager of Ray Consortium, integration of enterprise resource planning as a major component of th e agency’s human resource system facilitated faster and easier linkage of the agency’s human resource modules and financial modules.This procedure aims at motivating, mobilizing, and fostering their zeal towards their respective jobs.In identifying predecessors of different sections of the agency, this agency uses modules of human resource that link performance of an employee through a single database that provides the most important distinction among the proprietary and individually developed predecessors.... This procedure aims at motivating, mobilizing, and fostering their zeal towards their respective jobs (Lawler, 2004). In identifying predecessors of different sections of the agency, this agency uses modules of human resource that link performance of an employee through a single database that provides the most important distinction among the proprietary and individually developed predecessors. This procedure makes the enterprise resource planning and development application both flexible and rigid. In order to acquire and retain the best employees with excellent skills and knowledge, this agency devised a recruitment system called the Talent Management systems that typically encompasses things like identification of potential applicants, recruitment via company facing listings, and recruiting by the use of online means which market to both the applicant and recruiters (Berman, 2012). According to analysts, this process has the best means of acquiring the best employees, since it make s the overall acquiring and retaining process competitive. Implications of the Human Resource Workforce After analyzing the existing processes, systems, and components of the agency’s human resource, this paper established that there have been identical cases of success due to planned methodologies of facilitating work. For instance, presence of learning management systems within this agency contributes to concurrent increase in productivity, delivery, invention, and incorporation of diverse measures of ensuring competitive workforce (Lawler, 2004). Additionally, due to its well-trained and equipped workforce, the agency was able to establish a board that maintains a