Internship role and industry challenge. Write a 2 to 3 page description of a contemporary issue impacting the field of business that your fieldwork management assignment (internship) was or is in. Before you get into the issue, first, very briefly describe for me what you do for the company, including the title of the person you report to and the titles of any staff that you may work closely with. In your discussion of the issue cite the issue, its impact to the industry and any direct impact this may have to the business you work(ed) for. How is the business prepared to handle or react to the issue? Make sure that your summary is professional in appearance.
Even when the conditions were different back then, the problems and issues are still pretty similar. Jobs and politics back then in the Gilded Age were different than today. Back then in the Gilded Age, most of the employees do not have to have a high degree or at least the requirement were not as strict as today. Today in order to obtain a really good job, job seekers need to obtain a bachelor or a master’s degree with in a field. The minimum wage in the United States, set by the US labor law and a range of state and local laws, is $7.25 per hour. And if an employee does not want to work in a certain industry, they still can change their job by learning something different. Education is much easier in the current time age than back then. However, monopolies still affect the workers. Probably not as the same way back then, but still in their selling prices (and so, also if they can increase their wages, or leave it on the minimum wage of $7.25 per hour) and how they manipulate other businesses and their employees to increase their profit margins. “Monopoly power allows a company that has eaten up an entire industry to fix prices for consumers, driving them higher than they would be if other companies were able to compete in the same market and offer lower prices.” (Covert, 3). In the Gilded Age, the monopolies like Andrew Carnegie’s U.S. Steel or John D. Rockefeller’s Oil refinery etc. controlled the economics of United States. But also, today it is “impossible for employees to leave for a better-paying job elsewhere” (Covert, 3). Companies regulate their own prices, in favor of their profit. The main goal of almost every business person, is to get the highest most possible profit and win. Customers will prefer a company which offers the lowest price and will regard the high-price-companies. Even though, most of the people would say, that monopolies do not have a big influence on the economic, as it was back then in the Gilded Age. Nevertheless, it still does affect the way how customers think or handle by regulating very cheap prices, manipulate smaller businesses and do not increasing the wages. Monopolies in the Gilded Age brought many jobs to the nation’s citizen, but they also set the wage very low, why also labor unions were created. Some obdurate Politician took benefit on the monopolies to strengthen their campaigns for their presidential elections, like the one in 1896 between Democrat W. Bryan and Republican W. McKinley, which was won by the Republican because the employees/voters were dependent on their job which were given by the monopolies (in cooperation to the Republican McKinley). But also, today some companies keep their wages by the minimum of $7.25 an hour. They also beat small businesses down by keeping the selling prices as low as possible to make the buyer a favor on their own industry and so other businesses go down and their will become a monop>GET ANSWER