Minority and Women Entrepreneurs

Introduction In the bid to enhance collective growth for all industries by encouraging the development of entrepreneurship culture, governments develop policies that ensure equitable access and evaluation of contract bids that are placed by different firms irrespective of their size or ownership.Advertising We will write a custom research paper sample on Minority and Women Entrepreneurs specifically for you for only $16.05 $11/page Learn More The main criterion for selection of the firm or business enterprise that wins federal government contract in the US principally rests on the capacity of the firm or enterprise to deliver on the scope of a given contract as postulated in the terms and conditions of a contract. The United States government leads across the globe in terms of purchasing of various goods and services. According to American Express (2010), it spends an average of 500 billion US dollars annually. 23-percent (US $115) of contracts for suppl y of the goods and services are allocated to small firms. This observation suggests that federal contracting encompasses an essential avenue that is utilizable by small firms to grow. Five percent of the total US government’s spending is on small firms owned by minority and women. This makes these two groups of people important for consideration in the discussion of challenges and opportunities in the US federal procurement. This paper seeks to answer the question of whether minority-owned and women-owned small businesses work harder than their peers do to get the same amount of contracts. The paper is divided into three sections. The first section discusses equality in terms of the effort of minority-owned and women–owned small businesses to successfully bid for a contract from federal governments. The second section discusses how minority-owned business strategies differ from the strategies for majority owners. The third section reflects on these differences to exami ne whether minority-owned and women-owned firms and enterprises that engage in federal contracting encounter more hardships, hence requiring working harder in successful contracting. Equality in Success for Minority-owned and Women-owned Business The 2008-2009 global financial crisis produced negative impacts in the employment sector in the US. Estimations for employment forecasts conducted by Economic Co-Operation and Development (OECD) (2009) indicated that the global recession led to the loss of about 25 million jobs.Advertising Looking for research paper on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More Failure of economic recovery to pick momentum made unemployment rise to 57 million (Ernst Young, 2011). This situation revealed the significance of creating more employment through small businesses as part of the US government’s agenda to prevent and manage higher unemployment rates as the economy struggled to recover from the crisis. In the context of the minority-owned businesses and women-owned businesses, the two have an incredible share for the provision of employment in the US. In 2007, women owned 7.8 million small businesses, which accounted for 30 percent of all small businesses (Blank, 2010). The businesses reported sales and/or receipts of US$ 1.2 trillion. Those with paid workers employed 7.6 million people in total (Blank, 2010). According to American Express (2010), about 65 percent of small businesses engaged in federal contracting and secured their first contract, reporting sales of over $ 1 million each. This figure includes 63 percent of all prime small business contractors owned by women and 63 percent of prime small business contractors owned by people of color (American Express, 2010). Organizations such as a division of minority and women’s business development (DMWBD) are established in response to the challenge of enhancing the capacity of the women-owned and the mi nority-owned small businesses to offer solutions to the challenge of unemployment. The organization aims at promoting â€Å"equality of economic opportunities for MWBEs and to eliminate barriers to their participation in state contracts† (DMWBD, 2013, Para. 1). This suggests that DMWBD fosters fair allocation of contracts to women-owned and minority -owned small businesses. Amid this effort, equality in the success for minority-owned and women-owned businesses requires working harder to secure the first contract. Minority and women-owned small businesses acquire equal achievements in business growth, which is driven by procurement market place variables that come at equal levels to that of their peers after securing their first contract. American Express (2010, p. 2) supports this affirmation by asserting â€Å"once they become active prime contractors, women and minority-owned small businesses match the average small business contractors both in terms of business size and w ith respect to the total value for federal contracts†. However, the research organization partly agrees and partly disagrees with this assertion. It posits that even though minority and women contractors have acquired similar levels of contracting in comparison with their peers, persons of color (who also constitute the minority) who win their first contract have to pay an extra price. Small businesses owned by people of color invest 35 percent more in comparison with an average minority business to seek a contract with the federal government (American Express, 2012).Advertising We will write a custom research paper sample on Minority and Women Entrepreneurs specifically for you for only $16.05 $11/page Learn More Statistical evidence indicates that small businesses owned by men dominate in federal contracting. For instance, American Express (2010) confirms that even though small businesses owned by women and engaging in contracting for supply of goods and services to federal agencies are successful, they have not attained similar levels of success compared to men-owned small businesses. This observation is evidenced by 42 percent of women who are actively engaged in federal contracting reporting $1 million in sales compared to 47 percent small businesses owned by men reporting equal amounts of sales (American Express, 2010). This inequality creates the necessity for investigating the differences between small businesses owned by women and minority groups compared with their peers in a bid to establish the points of disparity or parity in awarding of federal contracts in the US. Differences between Women and Minority-owned and Majority-owned Businesses Data derived from the US Census Bureau in 2009 depicted a close relationship between small business populations’ racial and gender characteristic. According to the data, women represented 28 percent of all active contractors. This figure corresponded to 28 percent in th eir total share for population of people engaged in small business prime contracting or subcontracting with federal governments (American Express, 2010). From the context of minority groups, the data from the same organization showed that persons of color accounted for 24 percent of all active small business contractors against their population of 20 percent in the small businesses’ overall population. This data indicated that small business owners have equal opportunities of winning a federal contract irrespective of gender or racial demographic characteristics. However, considering the characteristics of the population of those who have applied for federal contract without success, inequalities in successful federal contracting are evident. Data from the US Census Bureau in 2009 shows that about half (48 percent) of the business population that applied for contract with the federal agencies without winning a prime contract (non-contractors) were minority-owned small busines ses while 39 percent were owned by women (American Express, 2010). This finding shows that minority and women-owned small businesses constitute the largest proportion of small businesses seeking to secure the first contract with federal agencies. A skeptical explanation for this difference may require claiming out that more minority and women-owned small businesses seek opportunities in contracting with Federal agencies.Advertising Looking for research paper on government? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nevertheless, while noting that 10% of the federal agencies’ contracts are reserved for women and minority-owned business, higher inequalities in winning contract among these two groups of small business under normal market dynamics would even be higher. This assertion invalidates a claim that setting 10% stake in contracting for women and minority-owned business (each 5%) encourages more minority and women-owned businesses to seek contracting opportunities with federal states so that they constitute the highest population for non-contractors in comparison with their peers. Ernst and Young (2011) contend there are inequalities between small businesses owned by women and those owned by men. The organization reckons that by 2011, women-owned businesses’ revenues accounted for only 9 percent of the total US economy in comparisons with the 36 percent contribution from the revenues generated by men-owned small business enterprises. This suggests that in case women would rai se their revenue objectives to equalize with small businesses that are owned by men, they are likely to make a bigger economic impact. However, a scholarly question emerges on how exactly this mission can be accomplished. Trechiel and Scott (2006, p. 52) suggest that women owning small businesses lack adequate â€Å"negotiating, assertiveness, and decision-making skills†. Considering that these skills are important during contracting negotiations, a possible mechanism of reducing the number of women non-contractors is through the creation of programs for their empowerment. In support of this claim, Ernst and Young (2011, p. 22) insist, â€Å"treating women entrepreneurs as a homogeneous group is unlikely to yield positive results, as women’s experiences in cultural backgrounds, education, and life circumstances vary widely†. Therefore, normalization of the incapability of women to manage and execute a contract to deliver its objectives as prescribed by contractu al terms and conditions may reveal the prevalence of women small businesses in the non-contracting category of small businesses in the US. Minority-owned businesses face the challenge of negative representation of their ability to deliver the deliverables of a contract similar to the women-owned small businesses. Indeed, according to Samuels, Joshi, and Demory (2008), they encounter challenges that are articulated to business formation together with equal engagement in government contracting with their peers. In the effort to ensure the businesses overcome the challenge of formation, the US government has created policies such as affirmative action to increase the number of small business firms owned by minorities applying for government contracts. For instance, the government has established a policy requiring reservation of 5% of all contracts awarded by federal governments to minority-owned small businesses (Trechiel Scott, 2006). Nevertheless, such policies do not necessary tra nslate into increasing the number of small businesses owned by minority and engaging in government contracting. Minority-owned small businesses engage in government contracting in the effort to offset limitations that the private sector imposes on them. This does not imply that minority-owned small businesses have a better play in government contracting compared to their peers. Coleman (2005, p. 154) state, â€Å"barriers embedded in the contracting process itself can impede minority firms from winning government contracts†. For instance, the government may not view as appropriate breaking down various contracts into small fragment to allow minority-owned small businesses to bid competitively. Challenges of ineffective screening to eliminate false minority disguise together with bid shopping also constitute important impediments to equality in the participation of minority-owned small businesses in government contracting. This suggests that for minority-owned and women-owned small business to engage competitively in government contracting in comparison with their peers, they have to work extra harder as discussed in the following section. Hardships in Contracting Ability of Minority-owned and Majority-owned Business Winning federal government contracts is significant to both minority and women-owned small business. A research conducted using a sample of 1,508 participants by American Express (2010) found out that women and minority small business owners work harder to win federal contracts for three main important reasons. 70-percent of the sample claimed that winning a prime federal contract was essential for growth of the businesses. Indeed, 37 percent of the sample contended that seeking business growth opportunities was the prime reason for engagement in federal contracting (American Express, 2010). In all minority and women small business owners, 74 percent cited growth as the main reason they pursue federal contracts. The research by American Expr ess (2010) also indicated that women have higher probabilities of engaging in government contracting in the quest to acquire personal leadership together with management skills. Women of color cited the development of the ability to increase their contributions to wellness of the communities as another major driver into engaging in federal contracting (American Express, 2010). The results of the study provide evidence of the willingness of women and minority small business owners to invest more in making bids for contracts and even in ensuring compliance with their businesses to statutory requirements that are essential for successful bids. The main question is, ‘how hard do they work and at what cost?’ Seeking a response to the above query formed the basis for the American Express (2012) study that deployed a sample size of 740 participants who were drawn from small business owners’ population in the US. The organization’s findings indicated that 35 perce nt of all active small businesses owned by women won contracts worth US $1 and above in 2011. 15-percent reported having won contracts worth US$10 million and above. 37-percent and 20 percent of minority-owned small businesses reported having won contracts with the federal government worth US $1 million and above and 10 million and above respectively. These findings evidence that women-owned and minority-owned small business were fairing equally in terms of achievement in federal contracting. However, equality only occurs when equal achievements correspond to equal inputs in terms of the effort required to successfully bid for a federal contract. Different amounts of efforts to win federal governments’ contracts nullify equality in contracting achievements for different small businesses in the US. Samuels, Joshi, and Demory (2008) further claim that women and minority small business invest both energy and time seeking federal governments’ certifications together with a dditional designations for them to qualify either as a prime contractor or subcontractor. Some of these certifications include women-owned small business certification, registration with GSA, minority-owned small business certification, designation for acceptability in the 8(a) program category of businesses, and veteran-owned small businesses among others. While it is important for small businesses owned by minority and women to seek more than one designations, such an endeavor is non-beneficial to the enterprise when it does not increase the probability for successful bidding for a contract. This suggests that increased successful contracting opportunities as discussed by American Express (2012) have an extra effort attached to them in comparison with their peers. Putting extra energy in seeking a designation of 8(a) business category or acquiring the designation for ‘service-disabled veteran-owned business’ proves effective in enhancing contracting abilities of minor ity-owned small businesses. American Express (2012) agrees with this postulation by reporting that 64 percent of the sample studied embraced ‘service-disabled veteran-owned business’ designation as an important extra effort incorporated by minority-owned small businesses in the bid to enhance their competitiveness in winning federal contracts. Similarly, women-owned businesses benefit from seeking registration with GSA. 41-percent of the sample of women-owned small businesses studied by American Express (2012) held that GSA registration was ‘very important.’ Consequently, it is sound to infer that compared to the peers, small businesses owned by women and minority in the US require an additional mechanism of enhancing their competitiveness in winning bids for the federal government contracts. Although this effort does not require financial inputs, winning contracts in some isolated cases requires higher monetary investments compared to their peers. The cont racting process involves expenditure of business financial resources. In 2010, the expenditure for small businesses that were actively seeking federal contracts averaged at US $103,827 (American Express, 2012). However, minority-owned small businesses had to invest more than the industry’s average contracting investment. They invested US$139,709 (American Express, 2012). This figure was about 35 percent higher than the industry’s average. Compared to women-owned businesses who only invested an average of US$86,643 (17-percent less than the industry’s average), this high commitment of business financial resources meant that minority owned-small businesses were the ones required to work harder to secure a federal contract. Thus, equal achievement in contracting for women-owned small businesses and minority-owned small businesses do not necessarily reflect equality in the overall benefits accruing from contracting. A similar comparative analysis may also apply to b oth women and minority-owned business when compared to their peers. Considering the time required to bid successfully for a federal government contract, women and minority-owned small businesses require working harder to secure the first contract. Average small business contractors take lesser time than women and minority-owned small businesses to secure their first contact. According to Ernst and Young (2011, p. 43), â€Å"it took minority business owners an average of 1.7 years (20 months) and 6.1 unsuccessful bids before they notched their first victory in procurement in 2011† (p.43). Comparably, a small business average contractor took only 16 months (1.3 years) to secure the first contract. This was accompanied by 4.4 failures for successful bidding. Women-owned businesses did not require working harder than average small businesses to a win a bid successfully. They only used 1.2 years with only four failures in successful bidding (Ernst and Young, 2011). However, the sa ved amount of energy may have been utilized elsewhere, for instance, in seeking registration with GSA to increase probabilities for success in contracting. Although women and the minority-owned small businesses face several challenges requiring them to work harder than their peers do, it does not imply that the peers do not also face higher expenditure in securing contracts with federal governments. The costs of living in many nations across the globe have been on the rise since the end of the global financial crisis experienced in 2008-2009 (Ernst and Young, 2011). This situation has resulted in the general increase in costs of doing business including contracting. Amid this challenge, minority-owned small businesses increased their investments in seeking contracting opportunities in federal governments by 29 percent between 2009 and 2010 compared to 21 percent industry average and 23 percent of the investments made by women-owned small businesses (American Express, 2012). Therefor e, despite the rise in investments in financial resources together with the time required for securing the first contract across all small business enterprises, this growth was more pronounced amongst women and minority-owned small businesses in comparison with their peers. Conclusion A government has a noble mandate to ensure equitable distribution of resources and business opportunities with a nation. This concern resulted in the establishment of policies for ensuring that particular disadvantaged groups of small business in the US acquire a share in accessing federal governments’ contracts. One of such policies was the allocation of 5% of total contracts awarded by the federal government to women-owned small businesses and an equal share to minority-owned small businesses. These two groups of businesses also possess the freedom to engage in bidding for the remaining 90% stake of contracts awarded to small businesses. To win a contract in this stake, especially where a smal l business seeks to bid successfully for the first contract, the paper revealed that women-owned and minority-owned small businesses have to worker harder than their peers do. Working harder encompasses commitment of more financial and time resources in the contracting process. It also entails spending time and other resources in seeking multiple designations or certifications to enhance the competitiveness of a women-owned business enterprise or minority-owned business enterprises to win the first bid. After winning the bid, such firms acquire an equal ability to contract similar to their peers without necessarily having to work harder. Reference List American Express. (2010). Women and Minority Federal Small Business Contractors: Greater Challenges, Deeper Motivations, Different Strategies, and Equal Success. New York, NY: American Express. American Express. (2012). Women and Minority Small Business Contracts: Divergent Paths to Equal Success. New York, NY: American Express. Blank , R. (2010). Women-Owned Business in the 21st Century. New York, NY: US Department of Commerce, Economic and Statistics Administration for White House Council on Women and Girls. Coleman, S. (2005). Constraints Faced by Women Small Business Owners: Evidence from the Data. Journal of Developmental Entrepreneurship, 7(2), 151-174. DMWBD. (2013). Minority and Women Business Development. Retrieved from https://esd.ny.gov/doing-business-ny/mwbe Ernst, J., Young, H. (2011). Scaling Up: Why Women-Owned Business can recharge the Global Economy. New York, NY: Ernst Young. OECD. (2009). Policy Responses to the Economic Crisis: Investing in Innovation for Long-Term Growth. Paris, France: Organization for Economic Co-operation and Development. Samuels, L., Joshi, M., Demory, Y. (2008). Entrepreneurial Failure and Discrimination: Lessons for Small Firms. Service Industries Journal, 28(7), 883-897. Trechiel, M., Scott, J. (2006). Women-Owned Businesses and Access to Bank Credit: Evidence from Three Surveys since 1987. Venture Capital, 8(1), 51-67. This research paper on Minority and Women Entrepreneurs was written and submitted by user Jaycob H. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

The eNotes Blog First Known Jane Austen Manuscript Sells for $1.6Million

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Analysis of Russias Financial and Labour Crisis

Analysis of Russias Financial and Labour Crisis INTRODUCTION In 2003, major economic organisations and key economists predicted that within a decade, the Russian Economy will face a human capital and labour crisis that will be unable to meet the growing demands of the country. This prediction came true and Russia slowly witnessed diminishing labour market performance following the Global Financial Crisis starting in 2009. The Russian Federation has a very flexible labour market. Cutting wages, reducing working hours and minimising non-wage labour costs are some of the policies adopted by most of the companies to adjust to the economic scenario. The workers respond to this by changing jobs. Hence, there exists a high and stable overall employment rate, but also high wage inequality, informality and labour turnover, due to which firms do not have the incentive to invest in human capital and productivity improvements. Hence, the growth figures of the Russian Economy rarely indicate how the economic performance is impacting the average man. Problems in the labour market of Russia slowly became noticeable following the Global Financial Crisis that started in 2008. The global financial crisis had a significant impact on the Russian economy and its labour market. According to OECD Database, in 2009, the decline in the GDP was −7.9% (World Bank Economic Outlook, 2009). However, since the latter half of 2009, Russia showed economic recovery. There was 4.5% growth rate in 2010 (World Bank Economic Outlook, 2010), and 4.3% in 2011 (World Bank Economic Outlook, 2011). The graph above indicates the changes in the unemployment rate and GDP of Russia during 2008-09. Russia was the third country along with Slovenia in the list with highest downfall in the GDP after Estonia and Finland. The unemployment rate increased, although it was stable as compared to other countries This period saw a fall in the output generation of goods. Working hours and wages were reduced to adjust to the scenario. The Youth of the country were the most affected by the sudden increase in unemployment. As shown in the diagram, from 2009 to 2012, unemployment rate was the highest for people aged 15-24. The labour market strengthened a little in early 2013. Unemployment in the months of January, February, and March lowered by 0.4% than the rate prevalent in 2012. But the second quarter of 2013 again saw a reversal of this trend, with unemployment again growing up by 0.1% compared to 2012 (OECD Economic Survey- Russian Federation, 2013) This marked the advent of an Economic Slump in the Russian Economy that is discussed in the succeeding chapter. Russian Economic Slump: How and Why? Russia suffered from major economic slump in 2012 and tried to make efforts to recover from it using the oil and gas revenues. However the living standards and productivity was below those of advanced BRIICS countries. Growth in 2012 slowed not only because of cyclical factors but also due to slow down of potential output growth. The Ministry of Economic Development, in November 2013, projected long-term average growth to 2.5% (OECD Survey 2013) down from 4.3% (ibid) projected in April, warning that Russian growth until 2030 would lag behind the global average. The reason that led to the emergence of slump is the heavy dependence on natural resources and the challenge lies in reduction of dependence on exhaustible natural resources, strengthen sustainable, productivity-driven, regionally balanced and broad-based growth. The abovementioned Economic slump emerged in late 2012 and into 2013, resulting in the recent Russian Economic crisis triggered by stagnant terms of trade due to inefficient labour market reforms. The temporary factors that earlier boosted growth slowed down, reducing investment mostly driven by natural resource related sectors and public expenditures. The employment and capacity utilization rates are near their pre-crisis records. The unemployment rate has fallen because of employment gains, a fall in labour force, high wage flexibility and extremely low unemployment benefits. Inflation rose above the central bank target range of 5-6% (Ibid). Although this rapid rise was driven mostly by high food prices due to the poor 2012 harvest and headline inflation, the second half of 2013 was on a downward trend and inflation expectations are sticky. These factors structurally limited growth , slowing potential growth below 3% (ibid) This Russian economic slowdown led to several changes in the society and some significant trends were seen: Partial employment increase No demand for radical life changes or political changes Dormant discontent against crisis situation unique adjustment function of the Russian labor market suppressed the impact of the economic crisis on the workers and they did not express their discontent in the form of strikes The policies and reforms for this slump are given in further chapters as discussed by the OECD report on Russian Economic Crisis. OECD ECONOMIC REPORT: REFORMS AND POLICIES Previously we studied the background of Russia and the possible reasons that triggered the current Russian economic slump. OECD is a world organisation that has come up with a report about the changes required for the current economic slump. The Organization of economic cooperation and development (OECD) is a forum founded in 1961 that discusses economic growth and world trade of its 34 member countries. It provides answers to common problems, identify practices in favour of these countries and also provide coordination between the domestic and international policies. It gives assistance in economic, environmental and social issues. Objectives of the OECD- To promote sustainable development in economic growth and employment, giving a rise in standard of living along with the maintenance of financial sector. To provide economic expansion to member countries in order to promote development in world economies. To carry out this expansion on a non-discriminatory basis. OECD: Russian Labour Market The Russian Labour market is in segments even though the global financial crisis ended the long period economic growth .The labour market faces a number of problems like unequal earnings, lack of enforcement of effective labour laws and underdeveloped collective bargaining. To improve this imbalance between labour market flexibility and the protection of workers the Russian federation needs to impose favourable labour market institutions. This imbalance can be improved by shifting to a more sustainable based growth from dependence on revenues from natural resources such as oil (main relying natural resource) by making it attractive place to invest, study and work. Russia should ensure growth beyond natural endowment. BOOSTING PRODUCTIVITY Stronger and more sustainable growth is not possible without better use of skills and stronger innovation. Considerable resources are employed in lowà ¢Ã¢â€š ¬Ã¢â‚¬Ëœproductivity activities. Lifelong learning, activation programmes and temporary income support remain underdeveloped. Key Recommendations: Better market oriented training. Strengthening the quality of the education system Improve the governance of higher education. IMPROVING THE BUSINESS CLIMATE The business climate in Russia is turning out to be risky as rule of law is weak and widespread corruption along with widespread state involvement. The implications are widespread such as low level of entrepreneurship and investment. Thus a stronger policy initiative along with stronger financial sector is required to match the skills of labour. Key Recommendations- Identify risks to integrity for particular jobs, work and project. Strengthening the rule of law by enhancing the quality of law instead of increasing the number of laws and regulations thus giving rise to judicial independence. Incorporating accountability and transparency of public institutions through promotion of media freedom. COMPETITION FRAMEWORK IN RUSSIA Russia has the highest barriers to competition when compared with any OECD country or emerging country. This halts the diffusion of technology and hampers the speed with which the labour productivity catch up with best performers. As suggested by OECD product market regulation (PMR) indicator, it suggests that Russia’s PMR is very restrictive as compared to any other OECD country. A PMR indicator tells the state involvement extent and administrative barrier to developing new enterprises. This high rate is reflected in Small and Medium sized enterprises sector in Russia. Key Recommendations- Lowering administrative burden on firms by cutting ‘red tape’, introducing deemed clearance regime and carrying out systematic Regulatory Impact Analysis and Stake Holder consultations. Strengthen the competition by eliminating subsidies to large firms, prioritize resources only to important cases and liberalization of foreign trade and investment policy. Widening scope of competition by taking WTO accession as an opportunity and supporting the concerned firms with framework measures rather than imposing entry barriers. POLICY IMPLICATIONS The basic problem in the Russian Economy is that it is still heavily dependent on the communist age infrastructure and economic mechanisms. No innovations or new methods of economic development have significantly evolved after the communist era collapsed. The economy still uses capitalist management styles that were used in the erstwhile USSR. The economy is heavily dependent on gas reservoirs and their rising prices. This leaves the domestic market open to major jolts due to the fluctuating world market prices of gas and other natural resources. Growth in 2013 slowed to 1.3 percent, the lowest in a decade other than during the global recession in 2009 (OECD Economic Indicators Report 2013). As mentioned in the previous chapter, the economic resilience of the economy can be raised through structural reforms. Making the economy more balanced, and less dependent on the volatile revenue from the energy market is one of the main challenges. This challenge can only be met by higher productivity of labour and energy efficiency which further, can by increasing competition in the market and investment in the structural economy. The improvement of the political economy and implementation of structural reforms is crucial to revive the Russian Economy. The society and not natural resources needs to partake in Russia’s transformation. And so there is need for investments in infrastructure, innovation and human resources. Russia needs to step up its governance and address the increasing inter-regional disparity. The OECD survey indicates that the Federation is doing well in numerous areas but future growth and development is being retarded by poor governance and laws. Russia faces major transport bottlenecks that hinder the infrastructural growth in many potential regions. The irony is that a majority of the Russian population- about a million, are engaged in the railways with most of them being disguisedly unemployed in the process. The Russian Federation has one of the highest shares of tertiary educated population in the world, but the education system has had difficulties in providing the education according to the needs of the market and the firms. The education system of the country is outdated. It needs to be revamped to suit the modern sensibilities and economic conditions. Education will have to target higher paying and more intellectual jobs (white collar jobs). Public spending on education is low and the high inequality of educational opportunities adds to the problem. Major public and private sector investments in the education sector, especially in backward areas should be a national priority. Better quality of market oriented vocational training and an improved technical curriculum is also the need of the hour. Another good way to increase the labour force of the nation is to decrease the gender gap in the labour market. Education and training focused solely on women would be beneficial. The Government should also increase the retirement age of women to equal to that of men. A boost in education and skill in turn will increase opportunities and investments in Research and Development that will bring the much needed innovation and further enhance the business climate. Flexibility in the Russian labour market has helped the economy achieve very low levels of unemployment. However, firms lose the incentive to invest in human resource due to the high labour turnover. This causes high wage inequality. The OECD encourages better communication between employers and labour, encouragement to engage in long term training programmes and temporary income support from the Government. One industry that has a lot of potential in the Russian economy and will benefit out of the recommended labour changes by OECD is the automobile industry. This will not only give a much required push to the economy but also solve the transportation bottleneck that the nation is facing. The Russian Federation will also benefit by strengthening its Immigration policies. There is a large influx of unskilled labour from countries that were part of the former Soviet Union, who come in the search for better employment opportunities and standards of living. They are seen to be putting additional burden on the Government’s diminished welfare schemes such as free education and healthcare systems. This is happening due to the easy immigration policy of the state. Hence the welfare labour policies that are already functional in the State cannot give quality output due to this additional burden put on them. CONCLUSION It can be asserted that the economic slump in Russia is a temporary bottleneck in its path of growth and development and can the removed by focusing on the improvement of the labour market performance by implementing the measures given in the OECD Economic Report on the Russian Federation 2013. As suggested by the OECD, encouraging lifelong learning among skilled workers, training and targeting the youth for inculcating better skills, developing advanced Information Technology in this arena, reducing the gender gap in the work force, reforms in the education system and promoting innovation and technology can take the nation a long way. However other measures such as State support in welfare schemes that boost labour performance and privatisation of firms can be beneficial. Encouraging better Human Resource policies in Russian Firms and stronger collective bargaining power of the workers can also help promote the right balance between wages and productivity. Russia also needs to look into its immigration policy to stop the rapid rise in immigrants who are unskilled and ultimately become a burden on the state.

The Love Story in James Cains Mildred Pierce :: Mildred Pierce Essays

The Love Story in James Cain's Mildred Pierce In Mildred Pierce, by James Cain, the novel revolves around some very interesting and universal concepts that seem to be themes in many of his novels. â€Å"As in his previous work, the novel revolves around love, money, and sex, but though success is perverse and wish fulfillment destructive, there is no murder† (Gale Group Biography) One most interesting theme is the theme of love and lust, and what drove the characters to their actions, and what motivated them. For some it was love, for some it was lust. So is Mildred Pierce a love story? Or is it just a tale of sex and scandals? In Cain’s works, love appears in almost a forbidden appearance, though it is obviously an important aspect. â€Å"Cain said he had only one story to tell: a love story. ’I write of the wish that comes true for some reason a terrifying concept ... I think my stories have some quality of the opening of a forbidden box.’ The act of forcing the wish to come true isolates Cain’s obsesses lovers from society and places them on what he calls a ’love-rack’† (Madden, journal) This forbidden box is very apparent in Mildred Pierce, as seen through the eyes of Mildred. Mildred appears to be a normal working mother, loving her children, and providing everything for them that she can, meanwhile struggling with her finances and problems with society’s expectations, and even her daughter, Veda’s expectations, which are quite a few. But underneath, there’s this very forbidden concept. Mildred loves her daughter, Veda, almost too much. â€Å"James T. Farell refers to Mildred’s ‘almost unnatural love for her daughter’† (Madden James M. Cain, 79) It is never exactly said in so many words, but the idea of Mildred loving her daughter more than what is natural is there, lurking underneath, like a forbidden box, on the verge of opening. Yet, even though we see signs of it, we don’t seem to lose respect for Mildred, because of her character, and the way it is drawn out, because Mildred herself never even realiz es it. This is something that would seem to be very hard to accomplish as a writer, and Cain does a fantastic job of it, illustrating the forbidden and the not forbidden love Mildred feels for Veda.