Friday, January 24, 2020
Julius Ceasar Essay -- Biography Biographies Bio
Julius Ceaser was the Roman general and statesman, who laid the foundations of the Roman imperial system. Born in Rome on July 12 or 13, 100 BC, Caesar belonged to the prestigious Julian clan; yet from early childhood he knew controversy. His uncle by marriage was Gaius Marius, leader of the populares. This party supported agrarian reform and was opposed by the reactionary optimates, a senatorial faction. Marius was seven times consul , and the last year he held office, just before his death in 86 BC, he exacted a terrifying toll on the optimates. At the same time he saw to it that Caesar was appointed flamen dialis, one of an archaic priesthood with no power. This identified him with his uncle's extremist politics, and his marriage in 84 BC to Cornelia, the daughter of Marius's associate, Cinna, further confirmed him as a radical. When Lucius Cornelius Sulla, Marius's enemy and leader of the optimates, was made dictator in 82 BC, he issued a list of enemies to be executed. Although Caesar was not harmed, he was ordered by Sulla to divorce Cornelia. Refusing that order, he found it prude nt to leave Rome. He did not return to the city until 78 BC, after Sulla's resignation. Caesar was now 22 years old. Unable to gain office, he left Rome again and went to Rhodes, where he studied rhetoric; he returned to Rome in 73 BC, a very persuasive speaker. The year before, while still absent, he had been elected to the pontificate, an important college of Roman priests. In 71 BC Pompey the Great, who had earned his epithet in service under Sulla, returned to Rome, having defeated the rebellious populares general Sertorius in Spain. At the same time Marcus Crassus, a rich patrician, suppressed in Italy the slave revolt led by Spartacus. Pompey and Crassus both ran for the consulshipââ¬âan office held by two menââ¬âin 70 BC. Pompey, who by this time had changed sides, was technically ineligible, but with Caesar's help he won the office. Crassus became the other consul. In 69 BC, Caesar was elected quaestor and in 65 BC curule aedile, gaining great popularity for his excessive gladiatorial games. To pay for these, he borrowed money from Crassus. This united the two men, who also found common cause with Pompey. When Caesar returned to Rome in 60 BC after a year as governor of Spain, he joined forces with Crassus and Pompey in a three way alliance known as the First Triumv... ... violated, she was maligned by gossips, and Caesar then divorced her, telling the Senate that Caesar's wife must be above suspicion. His next marriage which was in 59 b.c. was to Calpurnia and was politically motivated. Since Caesar had no male heirs, he stipulated in his will that his grandnephew, Octavius, become his successor. It was Octavius who became Rome's first emperor under the name of Augustus. Caesar was a gifted writer, with a clear and simple style. His De Bello Gallico which means On the Gallic Wars in english, in which he described Gaul and his Gallic campaigns, is a major source of information about the early Celtic and Germanic tribes. Scholarly opinion of Caesar's accomplishments is divided. Some regard him as an unscrupulous tyrant, with an insatiable lust for power, and blame him for the demise of the Roman Republic. Others, admitting that he could be ruthless, insist that the Republic had already been destroyed. They maintain that to save the Roman world from chaos a new type of government had to be created. In fact, Caesar's reforms did stabilize the Mediterranean world. Among ancient military commanders, he may be second only to Alexander the Great.
Thursday, January 16, 2020
Life circle theory of saving
The life Circle Theory of Saving teaches about the modalities, guidelines, and strategies in whichà families, governments, institutions should save, plan and manage their financial assets to span and cut across their entire life time. In the case of a family or household, it posits on how they should manage their financial assets in a transferable manner to cut across different times in their life circle, taking into cognizance the need to save and provide for retirements, as well as their childrenââ¬â¢s education, buy insurance, among other needs. According toà à Zvi, B, Jonathan, T. Wiillen P. (2004), this also relates to a companies assessment as to what to choose as the default asset allocation for a compulsory retirement saving plan. This theory poses various questions to people and deals with such fundamental issues as to how much of their earned income they should save for the future; how to invest what they save; the type of risk they must provide insurance,à incase of any eventuality; are they to buy a house or rent one; is it better to get a fix rate mortgage or bargain for an adjustable one. As Zvi B. (May 2007) observed, the theory not only concerns families, but government policy makers and firms that provide life circle serves, and even educator who help counselà the public to make informed choices. LIFE CIRCLE THEORY AND AGGREGATE SAVING IN AN ECONOMY This concept of life circle theory is useful in understanding the aggregate saving in an economy. According to Hayashi, F. (2007), aggregate saving is calculated as average saving for all age brackets in the population of a particular nation. This is expected to be the same or equal to the aggregate savings in the national account. In practical terms, saving is the difference between disposable income and consumption. It therefore goes that if households are able to increase their aggregate savings they will be in a better position to save and plan well for their life circle. Floden, M. (Date not available) defines aggregate saving in a general equilibrium model in an economy, as a situation, ââ¬Å"Where infinitely lived households face volatile income paths, holds a risk-free asset, and face a liquidity constraintsâ⬠. In any economy, when individual income, or organizational income varies, or differs, then the aggregate equilibrium capital will be larger than when it is constant. He posits further that when income is stochastic, the equilibrium capital stock is always larger than when it is constant. National savings largely depends on the rate of growth and development of national income. However, the purpose of life circle theory is not to provide clear cut answers, instead it is to give a framework for individuals, policy makers and financial planners to provide solutions to the questions posed- as indicated above. The huge variation in household income and in the aggregate savings in the economy will determine how planners (as well as families) will fine tune their advise to suit whatever purpose they want to serve. DEFINITION OF INCOME. The Wikipedia gave various definitions of income, but basically, income, defined in general terms, is the money that is received as a result of normal business activities of an individual; or money received from employment by way of employment by way of salary, wages, tips, as well as profits, dividends from financial investments, as interests, capital gains, or other sources as in social security or premiums. Income also is the money received from labor, services rendered, sale of property or goods or from investment made. There are diverse elaborate definitions of income, but we shall make do with the above definition for the purpose of this paper. PERMANENT INCOME AND LIFE CIRCLE MODELS. In the view of Roberts, S. (date not available), this is a situation where people base their consumption on what they believe to be their regular income. So, they try to maintain a fairly constant and stable standard of living, even though their earnings may vary either on monthly or yearly basis. This happens in a way that their spending pattern are fairly constant irrespective of increases or decreases in their earned income. This hypothesis was developed by Miltonà Friedman in 1957. If people perceive that a change in income is temporary, their spending may not change, but if they observe it is permanent, it may vary slightly on the average. DEMOCRAPHIC FUNDAMENTALSà AND FLOW OF SAVING The demographic fundamentals as it relates to flow of savings in life circle theory is based on the premise that young people borrow money, they middle aged class save their money, while the old people (elderly) run down or spend their savings.à Consequently, a nation with large population of middle age will have high savings, especially as people prepare to retire. Concerning the relationship between the demographic fundamentals and the bond marker, when the savings supply is high as a result of the high population of the middle age savings, the price of stocks and bonds falls. Also, when the supply is low, yield equally increases. INTEREST RATE EFFECT ON SAVING AND LIFE CIRCLE MODEL. Naturally, interest rate, which is the rate of the fee paid on borrowed asset, would always adjust to level up with investment and savings. Increase in interest rate affects how much income left for consumption. If the interest rate is increased it means less money for consumption and investment, whereas, it is increased there will be likelihood of slight increase or constant level of consumption and investment. It goes therefore to say that a rise in saving would bring about a fall in interest rate, thereby encouraging investment. Inn life circle theory, the lower the interest rate, the more likely consumption will increase, as well as investment. Both in individuals as well as institutions. According to an extensive review by Modigliani, FF Albert, A. (March 2005), in a world congress of the Economic Society in Barcelona in 1990. In trying to assert a comprehensive and standard evidence on saving and growth in a developing economy, he said that, ââ¬Å"Both growth and demographic structures are powerful predictors of national saving, with little or no role for the level of national incomeâ⬠. WEALTH EFFECT ON LIFE CIRCLE MODEL The level of wealth in an economy bears a simple relation to the length of the retirement span, which is the middle age, the very class that saves money the most. It is also true to say that the consumption of a household is also dependent solely on the present value of their lifetime income. For example, if two investors separately have the same total wealth (monetary wealth) working life, and are equally expectant of some sources of income in their remaining working life, their consumption decisions will be similar or same, not minding their income profile. REEFERENCE 1. Albert, A. Modighiani, F, (March 2005). The Life Circle Hypothesis of Saving: Aggregate Implication and Tests. American Economic Review. 53 (1) 55-84. Angus Deaton. ââ¬Å"Research Programme in Development Studies and Center for Health and Wellbeing. Princeton University. www.princeton.edu/ 2. Floden, M.www.ideas.repec.org/p/hhs/hastef/0591.html 3. Hayashi, F. (2007) Understanding Savings: Evidence from the United States and Japan. MA. MIT Press, 55 Haywad Press. Page 305. ISBN-10: 0-262-08255-1 4. Zvi, B. Jonathan T. Willen P. (2004). The Theory of Life- Circle Saving and Investment. Public Policy Discussion Paper. No. 07-3 5. Zvi B. (May 2007) 6. www.wikipedia.com 7.Robert S. Permanent-Income hypothesis,à published in www.wikipedia.org
Tuesday, January 7, 2020
Hero Comparison Essay Odysseus vs Gandhi - 1619 Words
Hero Comparison Essay K A K 16/12/2011 A hero, a mythological or legendary figure often of divine descent endowed with great strength or ability (Merriam-Webster). There are two types of heroes, epic heroes and modern heroes. Odysseus, one of the most famous epic heroes ever, will be compared to Mahatma Gandhi, a modern day hero, to see if there really is a large gap separating the two types. However, one thing is certain, modern heroes can be identical to epic heroes if they are larger than life, embody the ideals of their culture, embark on a perilous journey, and possess super-human, prominent characteristics. Epic heroes are always larger than life; however, modern day heroes can achieve amazing feats too. Odysseus, an epic hero,â⬠¦show more contentâ⬠¦Lastly, when Circà © didnââ¬â¢t warned Odysseus Odysseus that he has to lose six men in order not to get sucked into Charybdis, a whirlpool, Odysseus may have never returned (Applebee, 930-931). Gandhi has gone on a long journey too, the journey to give his country independence. Gandhi began to think of ways for his voice to be heard, but not to hurt anyone. He immediately had followers that joined him in his passive protests. Gandhiââ¬â¢s protests didnââ¬â¢t always go as planned. In fact, he was imprisoned on numerous occasions, including the years 1922, 1930, 1933, and 1942. Just because he was in jail didnââ¬â¢t mean he would stop fighting for his rights. One of Gandhiââ¬â¢s most famous protests was the Salt March from March 12 to April 5, 1930. Gandhi and thousands of Indians marched 400 kilometers to produce thei r own salt. This was a major statement because any money spent on salt that was bought in India went to Britain. After his march, thousands of people were jailed, but were later freed when Gandhi and Lord Irwin negotiated a deal. Finally in 1947, India declared independence from Britain (Myhero)(Thenagain). Both Gandhi and Odysseus embarked on long, perilous journeys, proving to us once again that a modern day hero can have similar experiences with an epic hero. One trait Odysseus shared with Gandhi is leadership. Odysseus shows his leadership skills countless times in ââ¬Å"The Odysseyâ⬠. One of the times it was most apparent was when he saved his men
Monday, December 30, 2019
Womens Suffrage and the Seneca Falls Convention
The Seneca Falls Convention was held in Seneca Falls, New York in 1848. Many individuals cite this convention asà the beginning of the womens movement in America. However, the idea for the convention came about at another protest meeting: the 1840 World Anti-Slavery Conventionà held in London. At that convention, the female delegates were not allowed to participate in the debates. Lucretia Mott wrote in her diary that even though the convention was titled a World convention, that was mere poetical license. She had accompanied her husband to London, but had to sit behind a partition with other ladies such as Elizabeth Cady Stanton. They took a dim view of their treatment, or rather mistreatment, and the idea of a womens convention was born. The Declaration of Sentiments In the interim between the 1840 World Anti-Slavery Convention and the 1848 Seneca Falls Convention, Elizabeth Cady Stanton composed the Declaration of Sentiments, a document declaring the rights of women modeled on the Declaration of Independence. It is worth noting that upon showing her Declaration to her husband, Mr. Stanton was less than pleased. He stated that if she read the Declaration at the Seneca Falls Convention, he would leave town. The Declaration of Sentiments contained several resolutions including ones that stated a man should not withhold a womans rights, take her property, or refuse to allow her to vote. The 300 participants spent July 19th and 20th arguing, refining and voting on the Declaration. Most of the resolutions received unanimous support. However, the right to vote had many dissenters including one very prominent figure, Lucretia Mott. Reaction to the Convention The convention was treated with scorn from all corners. The press and religious leaders denounced the happenings at Seneca Falls. However, a positive report was printed at the office of The North Star, Frederick Douglass newspaper. As the article in that newspaper stated, [T]here can be no reason in the world for denying to woman the exercise of the elective franchise....à Many leaders of the Womens Movement were also leaders in the Abolitionist Movement and vice-versa. However, the two movements while occurring at approximately the same time were in fact very different. While the abolitionist movement was fighting a tradition of tyranny against the African-American, the womens movement was fighting a tradition of protection. Many men and women felt that each sex had its own place in the world. Women were to be protected from such things as voting and politics. The difference between the two movements is emphasized by the fact that it took women 50 more years to achieve suffrage than it did African-American men.
Sunday, December 22, 2019
The, Where Am Calling From `` And What We Talk About Love
Raymond Carver was one of the most dominant American authors of short stories. Carver was born in the state of Oregon on May 25, 1938. In an interview Carver recalled himself as a boy telling stories. At a time in Carverââ¬â¢s life he suffered from alcoholism and tried very hard to let go of his addiction. However, alcohol plays a contradictory role in Raymond Carverââ¬â¢s short stories. The characters use alcohol to form social bonds, as a social lubricant which allows them to interact with other characters and also the apprehension of death experienced by some characters. In the following stories which will be discussed are as follow: ââ¬Å"Cathedralâ⬠, ââ¬Å"Where Am Calling Fromâ⬠And ââ¬Å"What We Talk about When We Talk about Loveâ⬠. The concept of impermanence of life and love are discussed in these stories. However, in some of the stories alcohol allows these characters to truly express themselves and to speak and perform activities they would have never been able to do. The contrasts and perspectives of using alcohol, can have negative impacts on the charactersââ¬â¢ lives and also define their moral values. While, alcohol acts as a socializing figure it allows the characters to unite with one another through stories, tends to create anxiety, stress and between dear ones and furthermore, separate them by breaking up the social bonds. Furthermore, Cathedral denotes alcohol not as a negative force but as a positive way. In the means of uniting the strangers and in the eventsShow MoreRelatedThe Passage From Revelations 21 : 1-7 Talks About A New Earth And How The Old Will Pass Away1231 Words à |à 5 PagesIntroduction The passage from Revelations 21:1-7 talks about a new heaven and a new earth and how the old will pass away. The author of the Book of Revelations is describing a voice that says, ââ¬Å"Behold, Godââ¬â¢s dwelling is with the human race. He will dwell with them and he will be his people and God himself will always be with them. He will wipe every tear from their eyes, and there shall be no more death or mourning, wailing or pain, for the old order has passed away. Write these words down, for theyRead MoreAnalysis Of Dr. Galindo s The Hidden Lives Of Congregation 1368 Words à |à 6 PagesWhat I gleaned most from in Dr. Galindoââ¬â¢s class was multifold; the facilitation and teaching of Dr. Galindo himself, ââ¬Å"The Hidden Lives of Congregationâ⬠(especially chapter 9) ,Genograms as a visual practice, my colleagues as critical and encouraging coaches, experiential learning outside of the classroom (ah-ha moments), and the final reflection paper. I included my reading, experiential, and reflection as a part of social because it help formulate how I responded to my peers in our classroom settingRead MoreThe War Of Art By Steven Pressfield Essay1750 Words à |à 7 PagesHow does the author define resistance and what are its characteristics? 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Saturday, December 14, 2019
Twitter Case Analysis Free Essays
To the average technologically advanced American, Twitter is one of the most visited social media sites. From a popularity contest standpoint, Twitter would be amongst the top winners; however, when evaluating Twitter from a business analytical aspect it might not be a lucrative business venture. The attractive attribute to Twitter Inc. We will write a custom essay sample on Twitter Case Analysis or any similar topic only for you Order Now is the fact the sites does not make any of its users pay. Twitter is designed to allow users to voice multiple thoughts, ideas, or share different information amongst the siteââ¬â¢s visitor. Unlike Facebook, Twitters does not have multi-million dollar corporations using the site on a regular basis to market more potential users. Therefore, with a low revenue base and poor strategic development implementation plan itââ¬â¢s going to be hard for Twitter Inc. to grow into a lucrative corporate investment. From a consultant standpoint, many business analyses would characterize Twitter Inc. as a ââ¬Å"dogâ⬠. A dog is considered to be a manââ¬â¢s best friend, however form a business outlook it could be the indication that a business is in their final stages of existence. When a product is evaluated as being a dog most business experts would describe the company as have a low or staggered growth rate and yielding no profits. Twitter has documented that it does not have enough money many times to meet the siteââ¬â¢s operation cost. Many experts believe that Twitter needs to expand the company in order to see some financial gain. The only problem with expanding the company is most investors need some form of a positive indicator that they are going to get their money back along with interest. From an explicit view, why should money be invested in Twitter? Read also Twitter Case Study Nearly every expert has come to the same conclusion that a social media site is a risky investment. Primarily, this investment is risky because consumer taste change, and social media sites has a previous trend of not being in existence more than five to seven years. Twitter consumer base is narrow, and the differentiation of the market sector would just add the list of difficulties the company is currently trying to solve. Twitter has been segmented since the creation of the company; they tend to have a consumer base in the age group of 13 to 35 years of age. The age group of 13 to 35 tend to spend the most money, owever this consumer base taste tend to be very inconsistent. Twitter is experiencing a maturity phase. In the maturity phase, there is little growth and the profit margin has reached its highest peak. If present circumstances are any forecast of the future, Twitter Inc. is in the early portion of the declining stage. In the declining stage there is no growth and the compa ny spread sheet starts to show the company in operating in the red or negative. My recommendation for Twitter is quite simple. Twitter Inc. needs to restructure their company and marketing scheme. They need to market the site for corporations to think it is worth the investment to advertise. Twitter need to find sponsors to give financial support to a new site design, better advertisement, and also creating partnerships. Twitter Inc. needs to reposition itself to look more like a corporate media site and not a site for teens to release trash gossip. In the segmentation of the market, Twitter should segment the market for mature users and teens. In the segmentation they may have one side that focus on corporate sponsors and the other side should focus on alternative financial support. Additionally, it would be interesting to experiment with the merging of Twitter, Facebook, and Instagram. All of these social media sites would cover the different segmentation of the market, which would give them the advantages of reaching from the youngest to oldest of users. These social media sites would allow users to upload thoughts, ideas, statements, and pictures to a single site. From a financial standpoint, there would be a large revenue base because of advertisement and sponsors trying to penetrate this lucrative market. Contrastingly, the only set back is the division of power and how would the profits be allocated in the new company corporate structure. Twitter has the fundamental basis of being an enjoyable, yet profitable company to own. However, Twitter needs to start making decisions that promotes growth and look to attract corporations to advertise on their site. Its time for Twitter to move on the matrix from a ââ¬Å"dogâ⬠to a ââ¬Å"cash cowâ⬠, and they will find there balance sheets doing more than breaking even. The segmentation and differentiation of markets will also help them find various area of potential success. How to cite Twitter Case Analysis, Papers
Friday, December 6, 2019
Common Source Bias Spurious Relationships ââ¬Myassignmenthelp.Com
Question: Discuss About The Common Source Bias Spurious Relationships? Answer: Introduction Merit pay is recognized as one of the most frequently used ways for paying to the organisational employees in respect with their individual performance level. The key objective of a merit pay plan is to have an interconnection to the employees performances in such a way that it is consistent with the organisational goal and mission. There are two specific conditions that are mandatory for merit pay plan i.e. some sort of variations in the performances of the employees which measurable in nature and must also be measured. Secondly, the organisational managers must offer with adequate tools for determining the appropriate recognition and rewards (Gerhart and Fang, 2014). The paper will highlight the various perceptual problems and biases associated with the merit pay plan and the ways in which the performance evaluation and success of the merit pay plan can be improved. Merit Pay Plan: Perceptual problems and biases and ways to improve performance evaluation The merit pay is a specific approach to compensation that is used for the purpose of rewarding the higher performing employees with incentive pay and additional pay. There are both several advantages as well as disadvantages associated with implementing merit pay plan in the organisations. The best use of these merit pay plans is for improving the retention rate of the employees as well as to motivate them to work harder and retain in the organisation for a longer period of time (Nyberg, Pieper and Trevor, 2016). There are number of perceptual problems as well as bias related issued which are associated with the merit pay plans that results in negative implications for the organisations of taking use of these merit pay plans. There are several perceptual problems such as stereotype, halo effect, selective perception and contrast effects. In the merit pay plan, there is a key role of these perceptual problems such as in the stereotype factor, the managers used to analyse and evaluate the performance of the employees by having a perception of the group in which that individual belongs. Thus, there are extreme chances that the merit pays of the employees can diverse and they might be offered an incorrect pay as they are not analysed in an adequate manner (Den Ouden, Kok and De Lange, 2012). The employees who are might be hard working and have performed well are not offered incentives because of the perception the managers have developed for them because of their group belongingness and thus it results in de-motivation of the employees (Meier and OToole, 2012). The second perceptual problem is the halo effect as per which the managers develop an impression or perception of an individual just on the grounds of a unique or single characteristic. The most negative aspect of this perceptual factor which gives rise to number of issues is that the managers tend to avoid all other factor and good characteristics of the employees and evaluate their performance only on the basis of that single aspect. This can be explained as when the managers evaluate the performance of an individual from the way the person communicate and if he is not found to be confident then there develops a perception that the performance of the employee is not good. Thus, such halo effect is one of the major perceptual errors which take place while rewarding the employees (Johnson, et al., 2013). Other perceptual errors include selective perception and contrast effects. On the basis of selective perception, the organisational managers used to evaluate the performance of the i ndividuals on the basis of their own interest, attitude, experience and background rather than evaluating the performance on organisational standards. Thus, it develops a strong negative impact on the employees as they tend to loose faith in the organisation as well as in the reward and merit pays (Hilbert, 2012). The next is contrast effect where the managers evaluate performances of the employees in comparison with the performances that have been recently analysed as lower performers or higher performers. This is also a problem as it is not adequate to compare an individual performance on those characteristics as it can give a diverse result and may also reward a less competent person with higher incentives and pays (Deco, et al., 2013). There are certain biases also which have a direct influence on the merit pay plan of the organisation. At the time of decision making by the managers regarding the rewards and incentives to be offered to the employees such biasness occurred and influence the decisions of the managers. The biases are called as cognitive biasness that are of majorly six types i.e. memory based biases, statistical based biases, confidence based biases, adjustment, presentation and situation abased biases. On the basis of these biases there are various which the employees also tend to influence the managers for getting higher incentives and rewards (Rolls, Grabenhorst and Deco, 2010). The presence of biasness in the decisions of the managers impact the employees in the most de-motivating way which increases the workplace place disturbance and influence the employees to leave the organisation due to inequitable behaviour and distribution of incentives and merit pays. Thus, because of presence of all these perceptual errors and biases there is ineffective and less competent merit pay plan in the organisations (Hensher, 2010). To improve the performance evaluations as well as the success of the various merit pay plans in the organizations, there are certain ways and recommendations which the organisations are required to effectively follow and implement. The first and the foremost step is to develop a more clear goal and vision statement of the merit pay plan which should be motivating for the employees to have improved outcome and enhanced efficiency could be seen in their work (Shields, et al., 2015). The second step is that the managers must adequately measure the competencies and the results. The results can be measured through analysing the profit and sales seek by the organisation by the efforts of the employee and the competencies can be evaluating factor such as communication, initiative and teamwork (Prowse and Prowse, 2010). The next way to improve the performance evaluation is to enhance the level of transparency as the decisions and the grounds of decisions regarding pay and incentives must be clear in front of all the employees. The merit pay plan is also required to be simple rather than complicated so that the employees can easily understand their individuals results and performances. It is also recommended atht there must be involvement of the teams which developing a framework or metrics for analysing the performances of the individuals (Bowman, 2010). It is also essential that there must be a self-appraisal program where the employees themselves can judge and evaluate their performances as well as the associate positive and negative points so that they can agree on the pays offered to them. All these ways will improve the performance evaluation of the employees as well as also increase the success of the merit pay plans in the organisations (Boachie-Mensah and Dogbe, 2011). Conclusion The paper concludes that there is a vital role of merit pay plans in increasing the motivation and retention of the employees as they offer incentives and additional pays to the employees in respect with their higher performances which boost their morale to work harder and with utmost efficiency. But there are several perceptual errors and biases which negatively impacts these merit pay plans and develops a negative thought process for the employees which force them to leave the organisation. Thus, there is an essential that the merit pays must be completely free from these perceptual errors and biases so atht there can be an equitable workplace environment where all the employees are treated and rewarded in an adequate manner. Thus, to improve the performance evaluation as well as to attain success of the merit pay plan is it is necessary that the organisational managers must follow and implement the ways and recommendations offered in the paper. 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