Part 3 Policy Choices Essay Example | Topics and Well Written Essays - 2500 words

Part 3 Policy Choices - Essay Example Third, these new environmental conditions favor the further development of genetic variations within the isolated group. Over a short amount of time, which can last thousands of years in evolutionary paleontology terms, the descendants of the isolated group become a new species morphologically different from the original population (Eldredge & Gould, 1972, p. 94-95; Gould 2002, p. 766-768). As a result, organisms rarely show any gradual evolutionary change throughout their phylogeny. Instead, new species appear quite suddenly in the fossil record. Working from the theoretical insights of Eldredge and Gould, Frank Baumgartner and Bryan Jones used PE to explain their observations on public policy. Baumgartner and Jones (1 993) found that for long periods of observations on different policy subsystems, policy change rarely occurred (p. 17- 18). However, on rare occasions certain policy conditions fluctuated such as the venue for a policy debate or the public's image of a specific policy problem. Fluctuations in venue and image often led to a quick policy change that was immediately followed by additional long periods of policy stasis (Baumgartner & Jones, 1993, p. 38). As a result, Baumgartner and Jones concluded that the evolution of any public policy followed a PE pattern rather than a gradual, incremental pattern. While Frank Baumgartner and Bryan Jones owed much of their insights on PE to Eldredge and Gould, they also used previous research from agenda-setting studies, the policy subsystems literature, and social choice theory to help configure the idea of PE to existing research on public policy. By using these three concepts from social science research, Baumgartner and Jones brought a theory from evolutionary paleontology to political science. This made PE a viable model of the policy process. With the incorporation of agenda-setting, the PE model had its basic political science foundation. Political scientists classify agenda-setting as a debate among advocacy groups, agencies, policymakers, the public, the media, and any other interested organizations over the problems that should be on the active policy agenda of policymakers (Baumgartner & Jones, 1993, p. 10; Kingdon, 1995, p. 3). Once on the agenda, governmental debates over a policy problem occur and the probability of policy change increases. Therefore, agenda-setting becomes important in the PE model because it helps to describe the most fundamental part of policy change. Bringing a policy problem to the agenda is a tough process. Successful agenda-setting usually happens when the public directs the right mix of attention to policymakers on a policy problem that already has various solutions advocated by organized interests (Hunt, 2002, p. 75-76). This helps to change the image of the policy problem from the perspe ctive of policymakers. Such a change in image also causes more policymakers to consider solving the problem with new legislation. When more policymakers know more about a specific policy problem, a change in venue for debates over the problem often occurs. By moving the policy discussion from its usual venue, such as a particular Congressional committee, policy change is more likely to occur. With the interaction of changing images and venues, more people become involved in the policy process and it becomes more open and more susceptible to change. This is an important

Assignment2 Essay Example | Topics and Well Written Essays - 2500 words

Assignment2 - Essay Example Similarly, bonus banking is introduced as the latest and most powerful weapon of long-term incentives. The first part of this paper will critically scrutinise the merits and demerits of the long-term incentives system in building long-lasting relationships with customers in banking industry. The second part will deal with different issues that a sales manager would face when managing and incentivising an effective team of sales people. I Why a new Incentive system? The weakness and deficiencies of old executive compensation system led to the origin of long-term incentive system. In the old scheme, the executives were compensated regardless their performance even after banks received bailout money. Retaining them in the organization was important as they were the skippers who would lead the day to day activities. The AP review reported that banks’ top executives earned an average of $2.6 million in ‘salary, bonuses and benefits’ (The Washington Times). Majority ban ks feared about the resignation of their top executives if they were paid in accordance with business fluctuations. It is suggested that banks must give more priority to their survival than to their top executives’ retention. ... Scholars have recommended that provision of bonuses as a percentage of bank’s profit would enhance banking operations as it ensured financial flexibility of banks. Melissa Murray, a spokeswoman for Wells Fargo suggested that it was good to adopt â€Å"pay-for-performance† culture where executives are treated on the basis of their performance (Freifeld, 2009). As a response to all critics, long-term incentives system has been established. Long-term incentives Under this system, the total compensation of employees includes base pay, short-term incentives, and long-term incentives. Base pay constitutes the fixed salary given to an employee for the specified job. Similarly, short-term incentives include all types of annual incentives and ordinary commissions those earned by an employee. Coleman and Fortier (2002) opine that unlike the base pay and short-term incentives methods, the long-term incentives aim the â€Å"improvement of overall performance of the organization by linking employees’ long-term rewards to the organization’s long-term results†. It mainly includes stock options, performance units, and restricted stock. Advantages of long-term incentives The appropriate selection of long-term incentive programs assists organisation to meet its long-term objectives. In addition, the introduction of suitable long-term incentives system in banking industries will add value to the shareholders as well as banks’ customers. The major advantages of long-term incentives are described below. 1. Employee participation Berger and Berger (324) suggest that this programme facilitates the banks to share the success with its executives; and it would