The Big Short is a non-fiction book by Michael Lewis, published in 2010. The book tells the story of the events leading up to the 2008 financial crisis, and the individuals who were able to predict and profit from the collapse of the housing market.
At the heart of the book is the concept of the "big short," which refers to a financial bet that something will go wrong in the market. In this case, the big short was made by a group of unconventional investors who saw that the housing market was built on a foundation of subprime mortgages, which were given to borrowers with poor credit. These investors believed that the housing market was going to collapse, and they placed bets against it by purchasing credit default swaps (CDS).
The book follows several key players in the big short, including hedge fund manager Michael Burry and investor Steve Eisman. Burry was one of the first to recognize the potential for a housing market crash, and he began purchasing CDS on mortgage-backed securities in 2005. Eisman, on the other hand, was initially skeptical of the housing market, but eventually came around to the idea that a crash was imminent.
As the housing market continued to boom, these investors faced a great deal of skepticism and ridicule from their peers. However, they were eventually proven right as the housing market did indeed collapse in 2007, leading to the financial crisis of 2008. The big short investors made billions of dollars as a result of their bets against the housing market.
The book is a fascinating and informative look at the events leading up to the financial crisis, and it serves as a cautionary tale about the dangers of financial speculation and the importance of critical thinking. It is a must-read for anyone interested in economics and finance.
Tanglewood Case Study
Specifically targeting a specific demographic group could be consider discrimination to others with that in mind the plan of action must be unspecific in scope. At the same time, the process of candidate evaluation was not supposed to become soulless and mechanical but had to rely on personal experiences of the recruitment team leaders as well. It appears this company has a ways to go to achieve adequate levels of diversity within the organization as a whole. Currently, the organization expects that its forecast for labor requirements is essentially constant from the previous year. Recommendations should then be disseminated across all individual Tanglewood stores in the state of Washington.
The downside to not hiring externally for meeting demographic gaps in managerial positions is the time required to reach these goals. Western Washington uses a variety of recruiting methods. It is believed that Tanglewood will need 3,995 store associates, 90 shift leaders, 156 department managers, 21 assistant store managers, and 5 store managers. Prepare a memo to be disseminated to the individual stores that give a sense of your targets for the organization as a whole, and also gives the stores advice on how they can assist in narrowing any representation gaps you find through their recruiting, hiring, and promotion practices. I learned to view the methods of evaluation in depth based on their mechanisms and identify the ones that were the least biased.
Tanglewood believes that it is very important to have complete employee involvement. Staffing services believes that a half-hour interview will be appropriate, with about 3 minutes per interview question. SelectionPlanFormat and Example for Department Manager Position Major KSAO Category Necessary for Selection? All hiring and promotion decisions should be made on the basis of character and quality of work. I have put complete these measures to be reviewed by the Director of Tanglewood to consider when looking at future staffing needs. The lack of minorities as shift leaders is not a direct result of not trying to fill these positions, but rather the lack of diversity within the available workforce.
This division has also used staffing agencies lately. Whendesigningaselectionplan,one thingsto rememberisthatselectionplansare costlyandtime-consumingtodevelop,butorganizations are increasinglyfindingthatthe benefitsof developingselectionplanoutweighthe costs. Externally recruiting should be done to recruit through job fairs, kiosks, and employment web sites. Tanglewood will require 3,995 store associates, 90 shift leaders, 156 department managers, -21 assistant store managers, and 5 store managers. Develop a detailed selection plan for this position.
The remaining 17 have the potential to be related to other regions that may need qualified store managers, though these assistant may lack the skills or knowledge to move ahead. It is also different because Tanglewood does not have a specific list of minimal educational requirements as qualifications. The majorKSAO'sare derivedfromthe position'sjob description,andare considerednecessaryforthe successinthisposition. Action Plan for Hiring in Spokane, Washington Staffing levels for the next year will follow the historic trends of recent years. Determine what you want to measure by analyzing KSAOs from the job description and the information on organizational culture in the case, and fitting the selection measures into the plan format as shown in Table 8. It has been projected that 16% of shift leaders will be promoted to department manager, 12% of department managers will be promoted to assistant store manager, and 8% of assistant store managers will be promoted to store manager. Gonzalez Tanglewood and his subsequent response to Ms.
Estimate how each method fares in terms of yields and costs I will explain the present recruitment methods used by each region: According on what I read from the McGraw-Hill online student portal it says that: 1. This culture has made Tanglewood very successful, but there is always ways to improve. Fill in the empty cells in the forecast of labor availabilities in Table 1. This means the forecast for next year will be taken as given. This report looks at the Tanglewood strategy and goals for the future, the two key elements of staffing decisions, namely staffing levels and staffing quality, to come up with recommendations on these elements which will help Tanglewood achieve its strategic staffing objectives.
Tanglewood Case Analysis Case Study Example (600 Words)
What does the pattern suggest to you? Once you reach the highest job level, Store Manager, we see that 69. College graduates may find entry level jobs to lack the level of pay, odd-hours, and conflict with lower-level employees. Technical knowledge N - - - - 10. No particular segment has a fulfillment of both females and minorities. Gap Analysis Next Year Projected 1 2 3 4 5 Year End Total 4505 1110 694 171 45 External Hired Needed 3995 90 156 21 5 Action Plan The flagship store in Spokane, Washington needs to have an action plan for hiring needs within the next year to be successful.
Incentives such as higher starting pay will attract more applicants especially high school students looking for cash to spend. The KSAOs of a potential candidate was used to create a selection plan. What will they do if a majority of the minorities do not continue working for Tanglewood as a sales associate? Gonzalez suggest that Mr. In this case I will say that the best target for recruitment at Tanglewood would be those applicants who has the right KSAOs or those who are interested in having rewards and bonuses. Action Plan Based, that Tanglewood will need to hire over 4,200 employees. We cannot simply view the lowest cost approach in hiring a new store associate. The more successful employees will be promoted to shift leaders.
The 2010 Markov Analysis showed you will have 5732 job positions available for 2011. The prior success speaks for itself and due to the major lack of substantial evidence that suggest this one particular party has been discriminated against would make changing the protocol for promotion an ill-advised decision. It has been well known that Tanglewood promotes from within. Ability to develop solutions to complex conflicts. After a projected 17 store managers will be leaving your firm you will promote 12 assistant managers to the store manager position. Even though this is an entry-level position, we will try to make it as appealing to applicants as we can. The innovative character of Southern Oregon is reflected in their recruiting practices.
