The General Perception Of CEO Compensation Finance Essay - Free Essay Example

Sample details Pages: 7 Words: 1984 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Its general perception that CEOs compensation is very high and in recent years significant attention has been given to rising pay level of chief executive officer. Lot of researches has been done to explore the determinants of executive compensation. In most of studies positive relation between pay and performance has been investigated. Don’t waste time! Our writers will create an original "The General Perception Of CEO Compensation Finance Essay" essay for you Create order Shareholder desire maximization of their wealth and wish that the board of directors should design compensation system which motives senior executives to make policies that maximizes shareholders wealth. Stockholders returns are closely associated with accounting profitability in long run, so usually compensation system depends upon maximizing accounting profits. In most large companies managers are not owners, they are support to work in away that in the best interest of the shareholders who are owners. Agency theory argues that executives only goal is not the same as of wealth .executives other may include control, power and increase in their compensation level. In order to achieve their other goals they might avoid attractive but risky investments because they worried more about their safety of jobs than healthier and attractive profit. These problems arise because managers who are hired as agent of principals (owners) have their personal interest. Theses conflicts between p rincipals and agents are called agency problems. 1.1 THE COMPONENTS OF CEO PAY 1.1.1 Base Salaries Base salary is the standard yearly pay of the executive. Base salaries for chief executive officers are usually pre calculated through competitive benchmarking, even though job evaluation is also used to determine executive pay in organizations as well. Normally executives base salaries are frequently influenced by the judgment of the compensation committee consisting companys board of directors. The committee actually analyzes the gathered information from salary surveys usually from same or similar industry and then reach a conclusion to set the executive compensation. There can also be some other factors while determining executive compensation such as size of the organization in terms of employees, assets and revenues and whether the company is making healthier profits or going into losses. 1.1.2 Annual Bonus Plans Annual bonus plan is a variable pay usually fluctuating and tied to the performance of the organization. The main objective of executive bonus compensation is to motivate senior executives in order to get maximization of shareholders wealth, which is ultimately the main goal of organizations. Shareholders are basically owners and investors of the company but they not participate in management and day to day operations. Executives are decision makers of the operations of the firm hence they manage the business on the behalf of shareholders and get their remuneration and reward for their expertise and services they provide to the firm. According to agency theory executives only goal is not the same as of the shareholders that is the maximization of the wealth of shareholders; their other goals include power, Control ad increase in their personal compensation. Therefore, to bend the executives motive and decision making in the best favor of share holders, some flavor of bonus compo nent in added to executives compensative. Given below are five basic types of executive bonus compensation plans. 1.1.2.1 Stock Options Stock Options provide the executive with the right to buy company stock at a fixed price at some future date. Compensative is determined by difference between exercise price and option price of the stock (Initial and selling price of the stock).It means an executive will only be able to receive the bonus in the case when share prices increase. If the share price goes down than the option price, then the options become valueless. The shortcoming of the stock options is that rise and fall in share prices do not explain all dimensions of executives performance .It is not widely practiced in Pakistan. 1.1.2.2 Restricted Stocks The rational of the restricted stock is to promote longer executive tenure. In restricted stock executives or employees are given certain number of company share and they are prohibited from selling those shares for a period pre defined, it means they cannot sell those shares before a certain defined time period. If an employee or executive having restricted stock leaves the company on his own wish before date pre defined date the shares are forfeited. Thats how the restricted stocks are used to promote the longer tenure of executives, which is ultimately beneficial for the firm and shareholders in the sense that there will be consistency in the strategies and policies and executives remain with the firm for the longer period of time. The shortcoming of the restricted stock is that there is no downside risk to executive who always get profits like other shareholders. 1.1.2.3 Golden Handcuffs Golden handcuffs can be either a restricted stock in which the stock compensation is delayed until resting time provisions are fulfilled or to a bonus income that is series of annual or semi annul installments . It may also involve paying an executive any amount at the retirement time or any other predefined age. Compensation is forfeited in a case where executive resigns or is fired before time. The rational of golden handcuffs is to offer an incentive to executive to keep him with the firm. Short coming of this bonus plan is that it may promote risk a verse decision making due to downside risk borne by executive. Executives are considered to be valuable by the firms and most of the firms take great care of them. Executives are very much aware and use to cost cutting techniques and existing strategies that are formulated by them. When executives and changed, new comers bring in a lot of discontinuity in current strategy .Thus golden handcuffs are congruent with long term strate gies plans. Firms may adopt golden handcuffs when stability of executives or management is crucial to firms growth. 1.1.2.4 Golden Parachutes The rationale of golden parachutes is to talented executives with the firm. Golden parachutes involves compensative an executive with substantial amount if he retires, is fired or quiets the job. It means executive have right to get the bonus if they loose their position due to resignation, retirement firing or takeover. The shortcoming of the golden parachute is that it is rewarded regarded regardless of success or failure that means whether the wealth is created for shareholders or not. The difference between golden handcuff is paid in series of annual installments while in the case of golden parachute payment of bonus is made at the time of retirement, firing, takeovers or resignation. 1.1.2.5 Cash Its the type of bonus compensation paid in cash usually quarterly or annually based on accounting performance measures such as return on assets, earning per share, net income, return on equity. This type of bonus plan is introduced to offset limitation of market based measures of performance and to compensative on the basis of accounting measures of performance. There are some factors that are beyond the control of managements that causes firms share prices low despite really good performance by executives. In the above cases deserving executives are not paid bonus compensation due to undervalued share price. So cash compensation plan corrects that issue by compensating an executive on the basis of internally measured performance. Lot of criticism has been made on compensating an executive on the basis of accounting measures as there are flaws in accounting system and argue that these figures do not represent actual managerial performance and they believe that compensation shoul d be given on the basis of financial or market based measures which truly represents executives performance and maximizes share holders value 1.1.3 Executive Benefits and Perquisites As there is a huge difference between pay level of executives and low level employees, same way benefits provided by company to executives also vary from those of lower level employees. Executives receive many benefits like life insurance, pension plans and health insurance. Executives perquisites Perks are unique services and benefits provided by firms to executives. It includes membership in clubs; company maintained automobiles, executive dinning room special reserved parking, company aircraft use, physical exam, financial counseling, home security, sports tickets and many more. 1.2 WHO SETS CEO PAY CEOs are the policy makers in the organizations. There is a question that if chief executive officers are leaders and head the organization who formulate rules and regulations then do they set their own pay level themselves and who decides that whether they should be given bonus or not, if yes then how much? If we go through the controversial issue of chief executive officer compensation we will come to know that there is a strong perception that chief executive officers sets their own salaries, but usually this is not the real case. Normally chief executive officers compensation is set outsiders (Board of directors) who are very much aware about the conflicts between stockholders and managers (executives) and luterests of both parties. But we san not reject the fact that top level executives exert some influence on Board of Directors in setting their compensation (Both Base Salary and Bonuses). Usually committee of two or more than two outside directories is formed to set the d ay level of CEOs in most of the countries. The committee conducts market studies in the same industry and set the pay level. Then those recommendations about pay level are sent to human resource department and top level manages for approval ad revision before being presented to Full Board of Directors to Final Approval. 1.3 STATEMENT OF THE PROBLEM Considerable attention has been given to high and rising pay levels of chief executive officers. Critics argue that chief executive officers compensation is very high and it reduces the value creation of stock holders who are actual owners of the firm. They believe that compensation level should be accordance with the performance of the firm and senior executives pay level should be set in a way that motivates them to make strategies that are in the best interest of shareholders. So, there is a need of precise relationship between chief executive officers compensation and those variables that can play a significant role in determining the executive compensation. The variables used in this study and their justification have been discussed in greater detail in chapter 3. 1.4 OBJECTIVE As mentioned above, abundant research has been carried out to find out the determinants of chief executive officers compensation but there is a lack of precise investigation to analyze the determinants of chief executive officers in Pakistan. In this way the objective of this study is to investigate or evaluate the relationship among the chief executive officers compensation, performance and size of the firm. For this purpose accounting based measures such as return on assets (ROA), return on equity (ROE), Income before tax etc will be used as predictors while CEO compensation (Both cash and non cash) will be used as dependent variable to find out the impact of predictors on CEO compensation in Banking industry of Pakistan. 1.5 RESEARCH SCOPE/LIMITATIONS The scope of this study is to analyze impact of size and performance of the firm on chief executive officers compensation. Few limitations of this study has been given below. This research would just restrict to secondary data and no primary data will be used. The access of data would be restricted to public information and all organizations do not share their information. As data is collected from annual repots so annual reports are only available for last few years (Normally 4-5 years) on the websites of the organizations. 1.6 THESIS STRUCTURE The report is systematized as follows. Chapter (1) contains introduction of the thesis, which includes the statement of problem, scope and limitations, objective and some of the theoretical perspective regarding the executive compensation. In chapter 2 relevant literatures would be discussed. In chapter (3) methodology will be described that constitutes the data and justify the choice of the variables used in our analysis sample, technique and also estimate model used in analysis. In chapter (4) results would be analyzed after the data processing. Chapter (5) will conclude the thesis and will contain discussion and recommendations.

Positive And Negative Effects Of Maquiladora Industry

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Change Management in Dynamic Health Care Systems Implementing the Str

Question: Discuss about theChange Management in Dynamic Health Care Systemsfor Implementing the Strategies. Answer: Introduction Change occurs continuously, it may be that we are indifferent to it, support it or be passive to it. The complexity in these changing surroundings is managing the change efficiently. It is all about planning, evaluation and implementing the strategies, tactics and operations that make sure that the changes are relevant and worthwhile. According to Kotter, change is both situational and emotional and therefore he proposed a multi step model. The model has 3 phases that can be used to change a technology that ensures the provision of efficient, safe and high quality care for the patients. Kotter change management model involves why the organisation needs the change, why the changed state would be better for the patients and the hospital, what changes are necessary, what new skills will be required along with the technology, and how the staff will be trained regarding these new skills (Chappell,et al.,2016). Managing change in any setting is a challenging, complex and dynamic process. C hange is never a choice between people oriented solutions or technology but it is a combination of all. Healthcare organisations around the world have a continuous and sustained push to implement electronic records based on the promise that the technology will improve productivity, function and quality of the healthcare organisations and for the patients(Al-Abri RK, 2007). One of the main concerns in the health care sector is the management of change. It is difficult to ensure that the health care professionals acquire and maintain the change. Reform driven changes or disruptions; continue to impact the healthcare industry in cost control efforts and its transparency. Changes in health care sector are moving at a fast pace, as practices strive to implement policy requirements and regulatory requirements. (Menachemi N, 2011),( Stewart, et al.,2007) Understanding new models like PCMHs that is patient centered Medical Homes and EMR electronic medical record deployments are not only about technology. They are about equipping the organisation to reach business objectives by enabling people with technical knowledge and capability that make things possible (Reed, et al.,2012). In Maryland State University the change that is going to take place is the implementation of the certified electronic health record technology or CEHRT. This is an academic medical centre that has hospitals, 2 campuses, and 40 outpatients sites that are located on the campus of the university. EMR implementation is beginning this year with the introduction of the ambulatory EMR. This will be followed by implementation phases which will include outpatient sites and lastly will be followed by a BIG BANG implementation process all across the campus. We will replace the numerous systems for revenue cycle management, scheduling, registration, and orders and compile all of them in a single record for ambulatory and inpatient documentation. This year in October we started the meaningful use reporting for professionals that are eligible for supporting the change. This change will happen simultaneously when providers are attending to patients and are trying to maintain a work life balance. Electronic medical record keeping create a lot of oppurtunities for the healthcare sector as they transform the way in which the care is delivered. Medical errors are reduced therefore increasing internal efficiency for administrative and clinical users. This in turn increases the revenue along with other critical benefits (Rouette, et al., 2016). Times like these can be stressful for the staff and the providers as electronic medical record implementation can be disruptive. Therefore to oversee a smooth transformation in the organisation it is crucial that the change management process is well developed. In the case of Maryland State University there are several reasons why switching to EMR will be quite useful. Some of these reasons are paper records are limited and it cannot be shared or stored. In spite of the fact that the hospital has a template for the clinicians the handwriting does not allows for the documents to be shared(Rodriguez-Vera FJ, 2002). Hardcopy of each record is quite expensive to copy by the photo copier machine when the numbers are quite high(Menachemi N F. E., 2007). The records are not private as files can be seen by someone who has access to the storage. Electronic medical records in Maryland State University will add to the organised way that is needed to record details of the patients. Through the use of EMRs the clinicians will be able to navigate through the history of the patient easily which will help in reducing time that is wasted in finding a specific detail about the patient(Blumenthal D, 2010). Another goal that the management is aiming for is increase in productivity and efficiency which EMRs will be able to provide. Through the use of EMRs redundant paper work will be decreased but it could be achieved only when the templates provided are used judiciously. (Erstad,2003),( Attieh, et al.,2013) The approach that we would use in Maryland State University is a gradual rollout which is followed out with a BIG BANG approach that is for all the locations. Each approach has its own advantages and disadvantages. As for some it would be easier to implement and install everything at one place, which works best for hardware. However if we thing about the user perspective a physician wants the same workflow at any location. Same goes for the patient who wants that his records should be shared with all providers and locations. For us the physicians preference was the top priority therefore we choose the specialty focused rollout for each location keeping in mind the specific need for that location (Kokkonen et al., 2013). This enabled us to meet the needs of all locations and our planning involved representatives leaders from all the locations. This approach will also help the medical record department as they have to choose dates for orders and documentation for the transition from ha rd copy (Paper) to electronic format. (DHuyvetter, 2014) The key elements that we have to manage during the change process are ensuring leadership support. Leadership communication and support is a key factor for successful implementation therefore leaders have to be identified at each level whether it is division, system, department, hospital or unit. In this we would also include the medical school as it is also associated with the organisation. The areas of compliance that would be closely monitored are patient safety, privacy, legal, and security. For this we would implement a scorecard system for feedbacks, this system will enable the leaders to identify areas that are lagging in compliance and are addressed easily. We appointed a physician leader in each location who was trained in the use of the application and would encourage the staff to accept the electronic records and its implementation (Noble, et al.,2011). Another key element that we have to manage during the change is the training. Training would be provided at regular inter vals during the implementation process (Bossen et al.,2013). We had already decided that training will be continuously provided till two months after the go-live. Training is necessary for the users to learn about the system and to practice the relevant components. It is crucial that the training should not be done beforehand as we want that the material should be fresh in users mind at the time for go live. This also maintains a sense of impending activity and urgency. We would train similar users and would tailor content accordingly as it is more effective (Sung, Choi, 2013). Users are found to be more attentive when the training material is tailored specifically for their needs. Training can only provide a preparation for the EMR use but it in the go-live phase that the users actually interact with the system in their daily work environment. Therefore it is critical to provide well planned support at the go-live phase. The most important part in this planning is deciding the pro portion for support personnel per user which determines the timing the intense support will go on. We would take the ratio of 1:1 for providers and 1:3 for the remaining staff (Campbell, 2012). The length of the timing after the go live is taken as 4-6 weeks which will depend on how frequently the user interacts with the system. Initially we would provide at the elbow intense and active support which will allow the user to use the maximum tools in the EMR application. This will also allow them to explore options for the patient care which will only enhance the system use. Through this the users will gain confidence which will allow us to taper the support gradually. The gradual removal of trust will reduce the feelings of being deserted . Therefore the transition will be from direct support to calling the helpdesk if they need any help. We are prepared that implementation process will be overwhelming even after the prework and training. A plan is also needed to ensure that support s taff and trainers are able to return regularly in order to help users. Therefore it was decided that trainers would return in intervals of 2-3 months in the first year after go live and then in six months the next year. We need to keep in mind that there is a people side of any change management and same goes for implementing electronic medical records. The main issue during transition is the messiness of it and when in case of a hospital the staff can have issues with numerous factors. Some of these factors are their comfort with use of computers, fear from change and commitment to the hospital. The enhancements and the new system are determined by the users who have different backgrounds, experiences with technology and references. Therefore managing the change needs an adoption plan that ties workflow harmonization, reinforcement, sponsorship, communication and training with the business part of the organisation. The key elements that have to manage during this change process are changing the way how the people work, the technology, and the processes. Changes create uncertainty in the minds of the people even when they are not happy with the current state. This is due to the fear of loss which in this case could be fear of losing their jobs, social position and loss of self esteem. Team pressure is another element the staff has to deal with as, not all would be happy with the change. These people would try to influence other to not accept the change as well. These people will resist the change as they think that change is not in their best interest especially when they would have heard negative stories about IT implementations in health sector. The only remedy to overcome these issues is to involve the staff in all planning and implementation at all levels. Just as people have to change their way to work because of the EMR addition, many existing organisational processes and practices would also be changed. This would require that the staff responsible for these processes is able to implement the changes that are required to deal with the organisational changes taking place. They are experts in their respective processes therefore they can recommend and head changes that ar e needed for desired outcomes. The best move is to rely on your staff as they are able to pilot changes to achieve desired goals. The transition from paper to EMRs will be tough as many practices will not transition from paper to electronic record. This would require implementing other initiative to improve patient care. This stage cannot be understated. Technology is another key element that has to be managed as the staff has to meet the patient engagement measures simultaneously with the change taking place. This means that many factors such as security measures for patients personal data, additional storage, patient portal access and secure messaging application have to be taken care of. It is also crucial that the patients are informed about the new technology and the implications associated to it. This could be attained by developing a one page poster or handout in the office that explains the changes and the planned benefits from the change. This implementation would engage th e patients into discussing about their quality of health with the care they are achieving. Keeping track of the progress is equally important to fix problems throughout the implementation process. Implementing change can be hard and stressful for everyone in the hospital but identifying some success factors is a strategy that can help in determining which management interventions are needed (Chaudhry et al.,2006). Measurement of the success of change process has to be planned during the planning of the change process. This measurement serves numerous purposes as it guides towards the goal achievement and also alerts the managers about the mid course correction. There are many ways in which the success of the change process can be measured. Some of these ways that are applicable in case of a hospital are individual employee assessments which include how the staff is handling the change and how it is progressing. This can be done with the help of utilization and usage reports, proficiency measures, adoption metrics, employee or staff feedback, observations of the behavior ch ange, surveys for employee satisfaction, error logs, issue and compliance logs(Walker et al.2005). These ways also measure the performance of the change by checking the business and change readiness, checking if the change is adhering to the timeline, and how it has improved the performance of the organisation. It is also important to measure the effectiveness and success of change process. To measure this we would check for trainings effectiveness. This could be easily tracked by checking for training participation and through skill tests. Another way to measure change process success is by knowing that how many stakeholders approve and understand the reason for change. A project can be unsuccessful if it has project delays due to decision delays and low commitment from the stakeholders. The approach that we would follow to incorporate the learnings from this change management would be an empowerment approach for any future change management. This approach enables collaboration between the staff, managers and leaders in the implementation of any new system or technology. High staff involvement is primary to this approach that involves the staff in decision making at levels (Farnham, 2003). Sharing of responsibilities and power is practiced in this approach. The core of this approach is empowerment which provides the employees with control, redistributed authority, adaptability, increased organisational flexibility and shared decision making and all of these are required for successful change whether it be in IT industry, manufacturing or any other sector or industry. EMRs have tremendous potential to improve productivity, outcomes in patient care, and quality but they also require a major change in the healthcare sector (Hillestad et al.,2005). A well planned change process and implementation of the process requires leadership support and involvement from the staff. With the help of effective training along with optimization the process of transitioning can be made smooth and can reduce the effects on the organisation productivity. 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Systematic review: impact of health information technology on quality, efficiency, and costs of medical care.Ann Intern Med, 144(10), 742752 Chappell, S., Pescud, M., Waterworth, P., Shilton, T., Roche, D., Ledger, M., Rosenberg, M. (2016). Exploring the process of implementing healthy workplace initiatives.Journal of Occupational and Environmental Medicine,58(10), e341e348 DHuyvetter, C., Lang, A. M., Heimer, D. M., Cogbill, T. H. (2014). Efficiencies gained by using electronic medical record and reports in trauma documentation.Journal of Trauma Nursing,21(2), 6871. Erstad T.(2003). Analyzing computer based patient records: a review of literature.J Healthc Inf Manag.17(4):5157 Farnham, D., Horton, S., White, G. (2003). Organisational change and staff participation and involvement in Britains public services.International Journal of Public Sector Management,16(6), 434445. Hillestad R., Bigelow J., Bower A., Girosi F., Meili R., Scoville R., Taylor R.(2005). Can Electronic Medical Record Systems Transform Health Care? Potential Health Benefits, Savings, and Costs.Health Affairs.24(5),110317 Kokkonen Erik W., Davis Scott A., Hsien-Chang Lin, Dabade Tushar S., Feldman Steven R., Alan B., Fleischer Jr (2013). Use of Electronic Medical Records Differs by Specialty and Office Settings.Journal of the American Medical Informatics Association.20, e33e38 Menachemi N, Ford EW, Beitsch LM, Brooks RG (2007). Incomplete EHR adoption: late uptake of patient safety and cost control functions. Am J Med Qual , 319326. Menachemi N, Prickett C, Brooks R (2011). The use of physician-patient email in Florida 20052008: a follow-up examination of adoption and best practice adherence. J Med Internet Res , 23-36. Noble, D. J., Lemer, C., Stanton, E. (2011). What has change management in industry got to do with improving patient safety?Postgraduate Medical Journal,87(1027), 345348 Reed, P., Conrad, D. A., Hernandez, S. E., Watts, C., Marcus-Smith, M. (2012). Innovation in patient-centered care: Lessons from a qualitative study of innovative health care organizations in Washington state.BMC Family Practice,13(1), 5669 Rodriguez-Vera FJ, Marin Y, Sanchez A, et al (2002). Illegible handwriting in medical records. J R Soc Med , 545546. Rouette, J., Gutierrez, E., ODonnell, J., Reddeman, L., Hart, M., Foxcroft, S., Brundage, M. (2016). Directly improving the quality of radiation treatment through peer review: A cross-sectional analysis of cancer Centres across A provincial cancer program.International Journal of Radiation Oncology*Biology*Physics,(10),28-32. Sung, S. Y., Choi, J. N. (2013). Do organizations spend wisely on employees? Effects of training and development investments on learning and innovation in organizations.Journal of Organizational Behavior,35(3), 393412 Stewart, J., ODonnell, M. (2007). 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Working Conditions in the Industrial Revolution free essay sample

Machinery was not always fenced off and workers would be exposed to the moving parts of the machines whilst they worked. Children were often employed to move between these dangerous machines, as they were small enough to fit between tightly packed machinery. This led to them being placed in a great deal of danger and mortality (death rates) were quite high in factories. Added to the dangers of the workplace also consider the impact of the hours worked. It was quite common for workers to work 12 hours or more a day, in the hot and physically exhausting work places. Exhaustion naturally leads to the worker becoming slow, which again makes the work place more dangerous. Positive Effects There were some positive effects of the Industrial Revolution. The improved production made products available to the people at cheaper prices. The population of industrial cities grew and this created more communication of ideas. We will write a custom essay sample on Working Conditions in the Industrial Revolution or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page These were positive effects, as well as the important reforms made in education and health and working conditions in factories as a result of the Industrial Revolution. The reforms helped improve living standards as a large number of people lived in reasonable comfort. It is certain that the impact of the changes that occurred were different for people of different classes and geography. As a whole, the benefits outweighed the problems of the Industrial Revolution. Britain changed from a country to an urbanized society as factories brought former farmers together to one spot for the purpose of production. People began not to depend on only their own resources as farmers. Jobs were much easier with area of labor. They had only to concentrate on one specific task as a worker in a factory. The threat of starvation was small, which as a farmer, had never been far away if a harvest didn’t work out as planned. Also, bringing people together who had been traditionally isolated brought more attention and action politically. Negative Effects Although it seems like there were a lot of positive effects it didn’t compare to the negative effects that took a drastic hurt on working classes. One of the most crucial negatives was child labor. These factory owners had 8 years old kids working in their factories for about 16 hours a day. Keep in mind that the breaks given were extremely short! Their lunch breaks were so short that they couldn’t go home and get something to eat. They had to eat a little snack or something in that category that they had brought with them to work. Many accidents occurred injuring or killing children on the job. Also many of these children were orphans and had no actual home to go to after work. The treatment the children in factories were often cruel, and the childrens safety was generally neglected. The people who the children served would beat them, verbally abuse them, and had no concern for their safety. The view of the work being done meant that the workplace had to be very hot, steam engines creating the heat in this and other industries. Machinery was not always fenced off and workers would be exposed to the moving parts of the machines even as they worked. Another issue was education. Many of these minors had no type of education because they were given no to time to go to school. Also many women weren’t permitted to teach. This was a big issue because these people (kids) would have little to no type of reading or writing skills for now or the future mainly because of demand of child employment or in other words, work. Opinionated Fixtures From my point of view I feel that these young children should have been allowed a childhood education. In addition to that statement, I feel that should be given the opportunity to grow up and make better of themselves. This would have been a better method than to just have children at six years old locked in factories doing the unbearable. Another suggestion is to allow the women with the appropriate amount of knowledge to teach. If the knowledge is there why let it sit there and rot. It is very cruel and inconsiderate to not allow someone teach just because those people are females. These factories were extremely hazardous and unsafe. They caused a vast amount of deaths, which is not a good look at all. Instead of these factory owners being all gassed up about their success economically and politically they should have used some of the money to secure their employees by purchasing merchandise that will favor their health more than basically damage and kill them. At least they could have made sure that all the machinery was fenced off at all times. All in all, the Industrial Revolution was somewhat for better when it came to the economic or political category but on the other hand dramatically for the worst when it came down to health of the people. ~Interesting Fact~ Not all factories were as bad as this. Robert Owen and Titus salt for example were both regarded as good employers in this respect. They were amongst a group of people who were known as reformers. These people wanted changes to the way that factories were run. They faced opposition from other mill owners who knew that reforms would cost them money and give the workers more rights.