I am a student in Professor Arvan's Econ 490 class. I am blogging under an alias to protect my true identity using the name of a famous economist for that purpose.
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Hello Professor Arvan, this is simply a test post to demonstrate the functionality of my blog.
Throughout my life, most of my interactions at work have fallen under the category of the standard principal-agent model. However, the position I had over the summer fits the triangle model quite well. As I discussed in my previous post, this past summer, I was a college financial representative for a mutual insurance company. A mutual insurance company is one in which the company is owned entirely by the policyholders. Therefore, as an associate, I worked as an agent for both my clients and the firm. I was quite literally an independent contractor working for the company, in which my tax form filed was 1098. From the company’s side, they expected me to do an exceptional job finding and scouting out new clients to meet sales goals. It was a process known as “building a book of business” in the sales world. Through these clients, they pushed me to do my best to sell the different products the company had to offer. Certain products were able to catch the company a g...
Workplace discipline walks a very fine line, especially in today’s society. More than ever before, as a society we are becoming aware of the discriminatory practices and taking action against them to ensure equality for all. In the last post, we talked about how to share the marbles. Similarly, how to discipline may affect how the “marbles” are distributed amongst the workplace. Take for example a young man who starts working for a company with a commission-based structure. He is outperforming everyone in the organization and in turn, receives compensation and rewards that pull away from the other workers’ pay. However, the audit staff one day finds out that the young man had been engaging in toxic business practices, terminating his employment contract. This would, therefore, restore the payment to other workers. Obviously, there are a lot of variables at play here but imagine the business was operating in one city with a fixed number of customers, businesses, and pe...
Throughout high school, I competed in one of the most competitive football programs in the entire state of Illinois. We went undefeated freshman, sophomore, and junior year to eventually lose my first high school game in the state championship of the 7A playoffs. We experienced this amount of success right after our high school experienced one of the most notorious hazing scandals in Illinois high school football history. However, no matter what my team went through, we did it as a team. We won as a team, lost as a team, did homework as a team, and even bled as a team. Being able to put the scandal behind us and still experience this grade of success is almost unheard of. Although, if any team could persevere, it was my high school football team. All of this was possible through hard work and unmatchable organization from our top-notch coaching staff. My football team was more than just a team, it was a bro...
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