Development of Project Proposal Assignment Example | Topics and Well Written Essays - 500 words

Advancement of Project Proposal - Assignment Example (2011) clarifies that change control systems incorporate the means for what and how adjustment of authentic organization measures, arrangements, plans, and strategies, venture records would be endorsed and approved and made piece of definite task the executives plan. Task administrator and venture group is predominantly mindful to distinguish the change control methods at all level and their consideration in the arrangement. PMBOK (2008) proposes that Integrated Change Control strategy incorporates the accompanying exercises dependent on the current status of the task. Changes to extend scope consistently sway the segments of the triple limitation i.e., cost, calendar and degree. A degree creep is probably going to be related with increment in cost and time required yet could conceivably affect the inspiration of the undertaking group (PMBOK 2008). In our undertaking, it is basic to have a conventional change control method as per the means portrayed underneath. Introductory undertaking length was determined to be 61 days with an expected expense of 5630 â‚ ¬. If it's not too much trouble see addendum ‘A’ and ‘B’ for reference. After the endorsement of progress demand, change to the venture calendar and cost were recalculated because of task scope creep. The examination uncovered that now the venture term would be 71 days with an expected expense of 8235 â‚ ¬. If you don't mind see Appendix ‘C’ and ‘D’ for reference. This showed venture span expanded from 61 days to 71 days however was well inside the guaranteed term of 14 weeks (14X7=98 days). In any case, because of adding another wing to the structure the cost expanded from 5630 â‚ ¬ to 8235 â‚ ¬, an expansion of 46% in venture cost. Contractual worker, with skill in development, will work related to the customer (Smith) to deal with the development of a house working with an extra wing. The contractual worker would help the customer in creating definite development venture plan, plan, asset plan and execution of the undertaking. The temporary worker would recognize and follow

Physico-Chemical Analysis of Sugar Industry Effluents

Physico-Chemical Analysis of Sugar Industry Effluents Physico-Chemical Analysis of Sugar Industry Effluents of Gayathri Sugar Factory Nizamabad region, Telangana state Bondugula Vanitha, Dr. Nirmala Babu Rao, Conceptual Present work depends on the physico †synthetic examination of effluents discharged from gayathri Sugar Factory. Sugar factories place a significant moving contaminating the water bodies by releasing a lot of waste water as gushing. The sugar factory emanating are having high measure of Suspended solids, break down solids, BOD, COD, Chlorides, Sulfates, Nitrates, Calcium and Magnesium. The Continuous utilization of the Effluents destructively influences the harvests when utilized for Irrigation. It was discovered that the sugar businesses devour huge measure of water and discharged practically equivalent sum emanating containing profoundly poisonous material in strong and break up structure. Sugar Factory effluents was all the more most exceedingly terrible like Average estimations of lower PH (6.2), high temperature (42ã ¢- ¦c), chloride (862mg/lit), all out hardness (571mg/lit), calcium (362 mg/Lit), Magnesium (211 mg/Lit), absolute solids (2452 mg/Lit), Total Dissolved soli ds (1915 mg/Lit), Total Suspended Solids (542 mg/Lit), Nitrate (0.8 Mg/Lit), Phosphate (9.8mg/Lit), Sulfate (49.3 mg/Lit) and Oil Grees (87.8 mg/Lit). Lastly this water is Unsafe for household and horticulture purposes. Along these lines it ought to be reused and used for Industrial reason as it were. Watchwords: Gayathri Sugar Factory, Sugar Factory Effluents, Physico Chemical Analysis Presentation: Sugar plants assume a significant job in dirtying the water, land and air. Regularly the toxins are through effluents and perilous synthetic compounds as air (1). Sugar industry assumes a significant job in the monetary turn of events, yet the effluents discharged will create a high natural contamination in both oceanic and earthly and air environments (2). Metals and non-metallic components can be valuable for the horticultural seed germination and development, however in high focus they show an extremely unfavorable impact (3). Effluents likewise influence attributes like greenery of getting amphibian bodies, gushing released in the earth represents a genuine wellbeing peril to the provincial and semi-urban populaces that utilization stream and waterway water for farming and residential purposes. Harm to paddy crops because of sugar industry squander waters entering agrarian land have been accounted for (4). It had been accounted for that the lower convergence of sugar manufacturin g plant gushing expands the seedling development (56). As sugar manufacturing plant profluent not treated appropriately, it will have a horrendous smell when it is discharged into condition (7). Ranchers utilizing effluents water for water system to lessen water request have discovered that plant development and harvest yield were diminished and soil contaminated(8). This is likewise causing passings of house creatures of such contaminated water have been accounted for progressively (9). MATERIALS METHODS: The effluents from Gayathri sugar production line was gathered during the start of stormy season (2013 July - 2014 June) in the glass bottles from the release channel and appropriately fixed. It was saved by adding synthetic concoctions to investigate in the research facility, for the evaluation of different physico-substance qualities a normalized convention of APHA (10) was utilized. RESULTS DISSCUSSION Shading According to the current investigation, the shade of untreated emanating was dull earthy. The photosynthesis movement is seen as decreased because of dull tinge additionally influencing different parameters like temperature DO and BOD and so forth. Temperature Temperature assumes a significant job in certain concoction and natural responses occurring in water which influences organism’s metabolic action. It relies on season, time testing and so on. The emanating which had been discharged from the business has commonly high temperature and it influences land. The temperature of untreated gushing was recorded 43 °C. The temperature of the release ought not surpass 35 °C. The high tem for example 43 °C of the untreated profluent has antagonistically influenced the procedure. pH In the current investigation, pH estimations of treated and untreated are 5.8 and 6.2 individually. Concurring BIS principles pH of the effluents ought to be in the scope of 6.5 to 8.0. These low pH estimations of both treated and untreated examples are because of use of phosphoric corrosive and Sulfur dioxide during the way toward cleaning of sugar stick juice. In the event that such water is utilized for water system for a more extended period the dirt becomes acidic bringing about poor harvests development and yield. Broken up Oxygen The examination of Dissolved Oxygen (DO) is one of the significant factors in water contamination and waste water control. Oceanic environment thoroughly relies upon DO as it were. It impacts the metabolic exercises of microorganism were very much reported. As indicated by the BIS guidelines, the DO of gushing ought to be inside the range 4 to 6 mg/lit. In the current examination, DO of the untreated emanating test was recorded 1.16 and 2.23g/lit separately which is adequately low than the BIS Indian standard qualities. Body Biochemical Oxygen Demand (BOD) is characterized as measure of oxygen required by microorganism while balancing out natural decomposable natural issue in water under high-impact conditions. The BO is an extremely moderate procedure in oxidation; natural poisons are oxidized by microorganisms into carbon dioxide, water utilizing broke down Oxygen. In the current investigation, the BOD of the untreated emanating was 86mg/lit. As per BIS Indian standard the BOD ought not surpass the 50 mg/l. COD The compound Oxygen request test depicts the measure of oxygen required for concoction oxidation of natural issue with the assistance of solid synthetic oxidant. The COD is a test which is utilized to quantify the sum or amount of contamination which has been discharged by local and modern waste. COD is helpful to decide the specific harmful condition and nearness of natural issues. In the current investigation, the COD of the untreated effluents was 460 mg/l. In untreated profluent it is obviously high contrasted with BIS standard (250 mg/L). This shows a high measure of natural contaminations in the example. TDS The all out broke up solids focus in the profluent speak to the colloidal structure and disintegrated apparitions. The pace of crash totaled procedure is likewise impacted by pH of this gushing. In the stormy season less convergence of absolute disintegrated solids are acquired because of weakening of waste gushing with downpour water. In the current investigation, the all out solids in untreated gushing were 1958 mg/lit. The examples in TDS values are a lot higher contrasted with BIS Indian Standards (500 mg/L). TSS Suspended solids are the reason for suspended molecule inside the water body impacting turbidity. Agreeing the current investigation, the suspended solids of untreated gushing were542mg/l Chlorides The nearness of chloride in normal water is ascribed to disintegration of salt store, release of effluents from substance businesses oil well activities. In the current examination chlorides of untreated was 862 mg/l. Sulfate Sulfate can likewise be created an oxidizing activity as in the oxidation activity. Sulfur itself has never been constraining variable in sea-going framework. In the current investigation, sulfate in untreated gushing was 493 mg/l concurring BIS Indian norm, the sulfate ought not surpass 100 mg/l. Oil and oil In the current examination, oil and oil present in un-treated gushing indicated 87.8mg/l oil and oil esteems are higher than BIS gauges. Table: 1 Occasional variety in the Physico-Chemical parameters of the un-treated sugar plant effluents (during time of 2013 July - 2014 June) Table: 2 The Physico-substance parameters of untreated sugar factory gushing End The Gayathri sugar industry arranged at Nizamabad area, Telangana State is one of the great processing plants. It has own refinery unit in its own premises for squander which is produced from the sugar production line. The sugar business needs adjustment in gushing treatment. In this way the sugar business profluent which is untreated shows high COD, BOD, and TDS content. What's more, low substance of DO which is harmful to plants and creatures, so it isn't reasonable for water system. The sugar business emanating is profoundly dirtied and they don't fulfill the BIS Indian standard qualities

Writing Your Centralis Scholarship Essay Topics

Writing Your Centralis Scholarship Essay TopicsIf you are trying to get into a reputable school, then you will need to get involved with the local Centralis Scholarship Program. The reason that this program is so popular is because it gives out so many scholarships every year. There are so many different Centralis Scholarship Essay Topics and you want to make sure that you have the right idea when it comes to writing your essay.First, you need to remember that the Centralis Scholarship Essay Topics is not all going to be about academics. This is not an opportunity to go into a dissertation about why you believe in the Christian religion or what your spiritual beliefs are. You have to make sure that you focus on a topic that is relevant to your life and that you use it to your advantage.Well, that is the first thing that you should remember. After you do that, you should talk about something that is really important to you. This could be something that is very personal to you or it co uld be something that is related to your life, such as being a mom or a dad. Whatever it is, make sure that you know why you are writing it.It will also help if you go over your scholarship essay topics in detail. Sometimes, the topics that you have included in your essay will be listed and you will want to see what it says about you. Do not leave yourself with any questions about them, because you do not want to leave any wiggle room for the person to write something and claim that they wrote something else.Another thing that you need to remember when it comes to your scholarship essay topics is that you have to use your imagination. Many of the subjects that you will be writing about are the same ones that you already know about. If you are not really familiar with it, then you are going to have to find ways to be creative and use your own ideas. Some of the subjects you might want to use in your essay include the weather, favorite hobbies, or even how you met your spouse.When it comes to your scholarship essay topics, it is important that you do not use the same topic as someone else. You want to make sure that you come up with something that is unique to you. This way, when it comes time for your essay to be read, you will be able to impress the judges and make them remember that you wrote the essay.It will also help if you bring a notebook with you to class so that you can jot down ideas that you come up with during your essay writing. This will help you remember how to organize your thoughts when you are writing. If you find that you can not make the deadline because you have too many ideas, then you can always take a few minutes and really sort through what you have to come up with an idea and then create a short story.Make sure that you think about your scholarship essay topics thoroughly before you begin. You want to be able to tell the judge why you are so qualified to get the scholarship. This way, you will be able to convince them that you are inde ed worthy and that you are worthy of the money that you are after.

Solution to Case Problem Specialty Toys Essay example

Solution to Case Problem Specialty Toys 10/24/2012 I. Introduction: The Specialty Toys Company faces a challenge of deciding how many units of a new toy should be purchased to meet anticipated sales demand. If too few are purchased, sales will be lost; if too many are purchased, profits will be reduced because of low prices realized in clearance sales. Here, I will help to analyze an appropriate order quantity for the company. II. Data Analysis: 1. 20,0 00 .025 10,0 00 30,0 00 .025 .95 20,0 00 .025 10,0 00 30,0 00 .025 .95 Since the expected demand is 2000, thus, the mean  µ is 2000. Through Excel, we get the z value given a 95% probability is 1.96. Thus, we have: z= (x- µ)/ ÏÆ'=(30000-20000)/†¦show more content†¦According to the background information, we get the sketch of distribution above. Since z= (Q-20,000)/5102 =0.52, so we get Q=20,000+0.52*5102=22,653. Thus, the quantity would be ordered under this policy is 22,653. The projected profits under the three sales scenarios are below: Order Quantity =22,653 | Unit Sales | Total Cost | Sales at $24 | Sales at $5 | Profit | 10,000 | 362,488 | 240,000 | 63,265 | -59,183 | 20,000 | 362,488 | 480,000 | 13,265 | 130,817 | 30,000 | 362,488 | 543,672 | 0 | 181,224 | 5. From the information we get above, I would recommend an order quantity that can maximize the expected profit, and it can be calculated by the formula below: P(Demandlt;=Q) = C1/(C1+C2). The probability here suggests the demand that is less than or equal to the recommended order quantity, and C1 is the cost of stock out loss per unit, and C2 is the cost of unsold inventory per unit. According to the background information, Specialty will sell Weather Teddy for $24 per unit and the cost is $16 per unit. So, we can see that C1= $24 - $16 = $8. If inventory remains after the holiday season, Specialty will sell all surplus inventory for $5 a unit. So, C2 = $16 - $5 = $11. Therefore, we get P(Demand lt;=Q) = 8/(8+11) = 0.4211. And the sketchShow MoreRelatedGopi990 Words   |  4 Pages CASE STUDY SPECIALITY TOYS Specialty Toys- Specialty Toys, Inc. sells a variety of new and innovative children’s toys. Management learned that the preholiday season is the best time to introduce a new toy, because many families use this time to look for new ideas for December holiday gifts. When Specialty discovers a new toy with good market potential, it chooses an October market entry date. In order to get toys in its stores by October, Specialty places one-time ordersRead MoreSpeciality Toys.1487 Words   |  6 PagesThe Synopsis of the problem: Specialty Toys, a retailer of Children’s toys is planning to launch a new toy called â€Å"Weather Teddy†. Sales Managers at the stores are working relentlessly to forecast the most appropriate demand order quantity in such a way that profit could be maximized. 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Social Media Influences On Politics And World Outlook

How the Social Media Influences Society’s Relationship/views on Politics and/or World Outlook Social media is everyday and everywhere. It’s hard to imagine today’s world without social media or social networking sites like Facebook, Twitter or Instagram. According to Pew Research Center, over 81 percent of Americans use a social media platforms, the number of worldwide social media users reached almost 2 billion people (Gotfried, 2016). Such a rapid growth of communication and interaction through social media leads to the question of how social media impacts society’s relationship on politics and world outlook. Nowadays social media plays an important role in impacting our culture, our political views and our view of the world. Social†¦show more content†¦Friends or people we follow via social media platforms become people’s trusted sources of information, even more than search engines. Social media like Facebook and Twitter expose segments of the population to news who might not have gotten it otherwise (Mitchell et al), which fundamenta lly changes the way we have to conceptualize and measure news use and exposure in an online environment. Another positive influence of social media is the way it helps people to start and do business. It became easier to start and launch business today using social media. According to Hyoungkoo (2016), 85% of fans of brands on Facebook recommend the brand to others and 71% of internet users are more likely to purchase from a brand that they are following on social media .Almost 90% of big companies using social media have reported at least one measurable business benefit. In 2015, 98% of Fortune 500 companies used social media. 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Creating a Philosophy of Life Essay - 650 Words

In his recent research, Pierre Hadot calls our attention to the original vocation of the philosopher: not as scholar but as sage. Hadot attempts to recapture the early understanding of the study of philosophy as an entry into a mode de vie, a way of life richly satisfying and personally rewarding. The challenge for us today, he claims, is to rediscover the unity between two different visions of philosophy: philosophy as scientific discourse and philosophy as way of spiritual enlightenment. As scientific discourse, philosophy cannot exist as a reality in and for itself. It is only the expression of the experience and reflection of the philosopher. As a way of spiritual enlightenment, philosophy is closely linked to the discourse within†¦show more content†¦Clearly, our students today are narcissistic, but they also demonstrate an eagerness to engage in philosophy as a quot;spiritual exercise.quot; Over the past eight years I have tried to develop an introductory course which capitalizes on the current student profile and which re-presents philosophy to the students in its original vocation: as guide from the world of confusion and deception to the world of truth. The writing assignment is the centerpiece for the course and all reading and discussion are designed to create an intellectual atmosphere within which the students can consider, develop and defend their own philosophy of life. The argument for their philosophy of life is developed over the entire semester. Students submit the argument in two stages, as described below. The first stage is written during the first half of the semester, where we read Plato’s Gorgias, Apology and Phaedo. In these works, we discuss the important question of quot;What is the best life for a person to livequot; (Gorgias), the nature of a life which is examined (Apology) and the qualities of a good argument in defense of ones position (Phaedo). Consistently, I work to make the connection between the discourse proper to philosophy and the intimate link to personal aspirations. The second stage of the paper brings out the practical aspects of their philosophy. Here we discuss the philosophy of Stoicism (Seneca) and the Christian perspective (Augustine). Finally, weShow MoreRelatedWhat Values From Traditional And Progressive Philosophies Complement Each Other868 Words   |  4 Pagesidentifiable philosophies that answer these questions: Traditional, Progressive, Existential and Critical Theory. However, they are often taken to the absolute and extreme. 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I will be discussing my philosophy of reading and my beliefs on whatRead MoreMy Personal Philosophy Of Education1335 Words   |  6 Pages I tested into a progressivism teaching style in the â€Å"Finding Your Philosophy of Education Quiz.† While I enjoyed learning about the different philosophies and psychological influences of teaching, I prefer constructivism, social reconstruction, and progressivism due to their student-centered learning, hands-on or project based learning style, while making efforts to improve the world around them. I will be discussing why I chose progressivism, social reconstruction, and constructivism as my preferences

Woolworths Australia CSR Factors Sample Guideline

Question: Explain Woolworths Australia CSR Factors. Answer: The Woolworths chains of stores in Australia have been committed to retail business since establishment. The organization generates the profits based on the good and services they offer to their customers. The profit created by the company depends on the sales recorded over the specified period in the accounting strategies. It is essential to note that the economic responsibility of the organizations in the corporate sector begins with the process of accumulating profit (Corporate Social Responsibility, 2016; Hopkins, 2006). The Woolworths retail stores in Australia have established their market coverage mechanisms through customer satisfaction measures and promotion of their activities. Corporate enterprises are required to determine their profitability before engaging in the Corporate Social Responsibility activities. The Woolworths administration has ensured that the process of buying and selling does not exploit the vulnerability of the customers and suppliers (Woolworths Limited , 2012). The profit generated by the organization is focused on investment, expenditure, and community support. The company has established its financial capacity as a measure of supporting their economic responsibility. Ethical Factor Business organizations are obligated to carry out their practices based on the moral standards and the ethical measures. The activities of the enterprises are supposed to be aligned according to the goodwill and the requirements of the community, the business, and the government (Lindgreen, Kotler, and Maon, 2010). The Woolworths management has ensured that the activities carried out by their stores are ethical and acceptable by the internal and external stakeholders. The organization deals with the retail activities, which is subjected to more interactions based on the variety of products the company is selling. The company has ensured that the goods are sold at reasonable prices that do not exploit the customers or paralyze the competitors in the industry. The organization has created strategies that ensure the employees are paid well based on the wages regulation standards. Woolworths management has provided a high level of compliance to the Consumer Laws and Regulations in Austra lia (Woolworths Limited, 2012). The retail activities have been based on the need to create profit and the build the capacity of the parties the business is interacting with such as the customers, the suppliers, the employees, and the government. Discretionary Factor The Woolworths chains of stores are guided by several philanthropic responsibilities within their locality across Australia. Corporate organizations participate necessary activities that are meant to add value to the surrounding community not because it an obligation but they feel the need to improve the society by sharing the generated profits (Nejatti and Ghasemi, 2012). The Woolworths management has been formulating strategies for supporting the community through campaigns, sensitization, and funding processes. The action by the organization has benefited to the members of the public and the respective systems receiving the support. The principle that the company has embraced involves the establishment of the financial capacity, adherence to legal requirements, and carrying activities based on ethical standards before engaging in community support. Several cases have emerged in the corporate sector where firms participate in support community events but fail to adhere to internal and external quality and regulatory measures (Idowu and Louche, 2011). Woolworths management has set actions that protect the reputation of the business by adhering to the Australian corporate regulation mechanisms. The participation in the community-based development activities has enabled the company to be part of the structural changes in the society. The companies should add value to the community that forms part of their market niche by sharing part of the profit through social interventions (Jones et al., 2009; Trong, 2012: Rigoberto, 2009). Overview of the Plan The Woolworths Sustainability program is a long-term commitment that the company developed to achieve primary objectives over a period of several years related to water usage, carbon emission, packaging, and waste recycling. The strategy is being executed under the Greening Retail plan, which targeted the contribution of retail outlets globally to assist in building a sustainable green environment (Woolworths Limited, 2012). The Greening Retail Plan is an international measure that requires the retail stores to ensure that their operations, market transformation, and the supply chain adhere to creating a sustainable environment irrespective of their capital of exploitation and location (Wendy, 2009). The operational focus ensures that the stores design measures according to their structure that will lead to energy being saved. The approach was mainly designed for the grocery chains as well as the food outlets. The consumer transformation requirement called for the setting up of avenu es that will incorporate the customers when creating the market new approaches. Such measures need research and development activities, which is aimed at developing products that are safe for the market and sustainable for the sector (Piacentini et al., 2000; Preston and Bailey, 2003). The supply chain mechanisms called the retail outlets to consider their transportation activities are aligned to environmental conservation measures. Objectives and Aims The Woolworths Greening Retail was created according to the internal and external structures of the Australian corporate sector. The plan was based on four key areas including the climate change, water, packaging, and waste. The program was started to generate effective change within the community by developing a sustainable environment (Woolworths Limited, 2012). The objectives of the company were scaled down to six major undertakings as outlined below. To reduce the carbon emissions by 40% by 2016 a level that will be similar to the recorded percentage in the year 2006 To ensure that the carbon emission levels are reduced through the transport mechanisms that will ensure that each carton carried by Woolworths trucks contributes to 25% carbon emission reductions by 2012 To ensure that the company fleet contributes to 30% carbon emissions reductions by 2010 To reduce the water the level of water usage by around 200 million liters each year To contribute to the elimination of food waste to landfill by 2016 To carry out the retail sourcing activities based on ethical and sustainable measures Strategies and Methods of Implementation The company used several methods to ensure that the activities are aligned to achieve the Greening Retail objectives under their Sustainable Program. The organizations restructured the internal factors to ensure total compliance to regulation and authority (Wendy, 2009). Whenever agencies comply to set measures, then a safe internal environment for executing other mechanisms is created. The Woolworths administration ensured that the suppliers were appraised based on their production methods and culture. The organization changed the energy methods used within the shop units from carbon-based to more clean forms such as electricity and natural gas. The objective of the company was to ensure that the processes within the store no longer increase carbon emission. The company focused on the transportation patterns across the units. The trucks were to be loaded to ensure that they maximize on each trip. The packaging process shifted to biodegradable materials to reduce the level of carbon in the environment from the production activities. The retail shop encouraged recycling operations whenever non-biodegradable packaging was involved. The standard of water usage was based on the strict management that encouraged safety and efficiency (Woolworths Limited, 2012). The organization has sensitized farmers to use water management measures during production to reduce the level of consumption. The innovated stores have been fitted with air conditioning features and refrigeration mechanisms. Evaluation and Sustainability The organization has managed to bring a difference since the start of the implementation of the Sustainability Greening Retail Strategy. The Woolworths administration has been able to control the supply of the products from the manufacturer base on their commitment to the sustainable environment in Australia. The collaboration with farmers has seen a change in the methods of production. Farmers have resorted to techniques that preserve water to produce the sound, which is sold at the Woolworths grocery unit. The controlled transport schedule has seen the business collaborating with companies that offer delivery services to reduce the engagement of trucks. Moreover, the organizations have reduced the number of the fleet for the staff through sharing that has encouraged lower levels of the anticipated carbon emission (Woolworths Limited, 2012). The quality and assurance departments for the chain stores have been committed to ensuring that the company activities are based on the corpora te regulations of the government of Australia. The selling of safe and quality products to the customer has created trust for market sustainability. The company has engaged the community in programs that encourage safety. The employees satisfaction and motivation has improved over the years. The commitment to developing the expertise of the workers has developed the ethical standards as well as the level of the customer experience (Schrag, 2011; Reilly and Peter, 2000). Challenges and Possible Improvements The implementation of the sustainability program has been subjected to several shortcomings. The business cost and expenditure has increased over the years. The process of community engagement involves the provision of essential training and sensitization some of which are expensive to offer especially to farmers. The participation of the organization in the carbon emission reduction processes has affected the efficiency of the organization regarding timely deliveries. The time factor is an essential aspect of the retailing business and it determines the customer experiences and store management ability. The numerous activities that are incorporated into the strategy are a potential source of incompetence for the business since they are to focus on several objectives (Wendy, 2009). However, the Woolworths management can form a separate department that will assist in the administration of the Corporate Social Responsibility affairs. Setting a fixed percentage of the profit generated f or CSR projects will help in producing a constant amount to fund the intervention without paralyzing the operations of the shops. The management should consider implementing one strategy at a time to avoid straining their budget and concentrate on quality and sustainability of the programs. PART 3: Integration and Sustainability of the Woolworths Australia CSR Strategy The essential part of a CSR strategy in an organization is the sustainability and integration of the program to the plans of the firm. The community may be in need of a special support, but the company may find it difficult to align the intervention to the structure of the organization (Filho, 2009). For example, it is hard for an alcohol manufacturing company to assist the community affected by youthful indulgence in excessive drinking. The Greening Retailing Strategy that is being implemented as a CSR approach for the Woolworths chains of stores is directly linked to the objectives of the organization. Most of the activities being carried out regarding the retailing business contribute to the prevalence of the shortcomings the strategy is geared to solve. The project is essential for the organization both for the short-term and long-term targets in the corporate sector (Wendy, 2009). The program is not limited to Woolworths, but it is global agenda to be embraced by all retail orga nizations. The decision to incorporate the CSR interventions in the objectives of the business was essential for the competitive advantage in the Australian market. The process of integrating the project into the activities of the firm was consultative and involved the contribution of the stakeholders. The implementation of the carbon emission standards was based on the Carbon Blueprints. The measures called for a critical analysis of the functions of the business. The hiring of the external consultants assisted in establishing the renovations and changes that the company has to take. The interventions to be carried out depended on the comparison between the owned assets and the indirect assets since they define the supply chain of the retail outlets. The evaluation led to an establishment of the effects from the refrigeration activities. The organization, therefore, found it necessary to alter the cooling activities, transport routine, lighting systems, and air conditioning techniques (Wendy, 2009). The level of water usage through controlled production of the farm outputs was based on the rate of billing costs. The firm also focused on production and selling of good that are safe for consumption as well as environmentally friendly. The focus of the analysis was to set a baseline that will define the process of the achievement of the objectives of the master strategy. The comparison of the annual levels and data assisted in setting the yearly targets for carbon emissions, water preservation, and market and supply sustainability mechanisms. The viability of the projects was guaranteed by establishing policies that will guide the business culture in the subsequent years. The government of Australia also contributed to the setting of a culture favorable for the implementation of the objectives through the business and competition regulations such as the commercial laws. The interventions were spread over several years to ensure that the goals are attained entirely. Through the websites, publications, workshops, and community events the organizations defined the mechanisms of sensitization. The sustainability of supply and purchasing footprints was created through training and contracts that represent the environmentally friendly production according to the regulations in Australia. Retailers are responsible for the choices they make regarding the products that are sold in their stores (Wendy, 2009). Therefore, the organization ensured that the suppliers adhere to the consumer standards and quality requirements before enga ging in supply contracts. The nature of the interventions that were set forth concerned the ingredients of the products, pollution effects during production, and sourcing factors. The funding of each intervention relied on the profit generated in the business since it was necessary to consider the strain on the budget and costs. References Corporate social responsibility, 2016. International Journal of Science and Research (IJSR), 5(1), pp. 18291831. doi: 10.21275/v5i1.nov153197 Filho, L., 2009. Professionals perspectives of corporate social responsibility. Edited by Samuel Idowu and Walter Leal Filho. Germany: Springer-Verlag Berlin and Heidelberg GmbH Co. K Hopkins, M., 2006. Corporate social responsibility and international development: Are corporations the solution? 2nd edn. London: Earthscan Publications Idowu, S. O. and Louche, C. (eds.), 2011. Theory and practice of corporate social responsibility. Berlin, Heidelberg: Springer-Verlag Berlin and Heidelberg GmbH Co. K Jones, B., Bowd, R. and Tench, R., 2009. Corporate irresponsibility and corporate social responsibility: Competing realities, Social Responsibility Journal, 5(3), pp. 300310. doi: 10.1108/17471110910977249 Lindgreen, A., Kotler, P. and Maon, F., 2010. A stakeholder approach to corporate social responsibility: Pressures, conflicts, and reconciliation. United Kingdom: Ashgate Publishing Nejati, M. and Ghasemi, S., 2012. Corporate social responsibility in Iran from the perspective of employees, Social Responsibility Journal, 8(4), pp. 578588. doi: 10.1108/17471111211272552 Piacentini, M., MacFadyen, L. and Eadie, D., 2000. Corporate social responsibility in food retailing, International Journal of Retail Distribution Management, 28(11), pp. 459469. doi: 10.1108/09590550010356822 Preston, M. and Bailey, A., 2003. The potential for high-performance design adoption in retail property portfolios, Corporate Social Responsibility and Environmental Management, 10(3), pp. 165174. doi: 10.1002/csr.42 Reilly, P. A. and Peter, K., 2000. Flexibility at work: Balancing the interests of employer and employee. United Kingdom: Gower Publishing Company Rigoberto Parada Daza, J., 2009. A valuation model for corporate social responsibility, Social Responsibility Journal, 5(3), pp. 284299. doi: 10.1108/17471110910977230 Schrag, B., 2001. The moral significance of employee loyalty, Business Ethics Quarterly, 11(1), p. 41. doi: 10.2307/3857868 Trong Tuan, L., 2012. Corporate social responsibility, ethics, and corporate governance, Social Responsibility Journal, 8(4), pp. 547560. doi: 10.1108/17471111211272110 Wendy, E., 2009. Greening Retail: Best environmental practices of leading retailers from around the world, Canada: Conservation for the Living City. Woolworths Limited, 2012. Corporate Social Responsibility

Yasmin almonte lantzs herstory Essay Example

Yasmin almonte lantzs herstory Paper Red is the predominant color in all of Yasmin Almonte-Lantz;s works. This is because she believes that ;Red is blood, red is life, red is death, red is love, red is violence, red is passion.; And truly, all her works reflect much about life from a woman;s perspective. In almost all her paintings, women are made as subjects. For example, in the piece Herstory, we know right away from the title that the subject is a ;her;; a woman. It is also part of her feminism that she depicts women in her paintings as beautiful objects. I especially love the vivid details she puts into the women in her pieces. Although most are in their birthday suits, I understand this method to be a portrayal of the beauty and innocence, innate in every woman. Fromfirst glance, and without knowing the title of Almonte-Lantz;s painting, one would immediately notice the predominant color, red, being used as a background, which looks like some sort of fire. Then there are three images: a puppet, and a kneeling wom an, both bounded together by a red ribbon. However, at a closer look, one could see another feminine figure, blending among the flames. Her face is undefined because of the absence of facial features such as the eyes and mouth, but she does, however have a nose. Also, she is positioned upside down. The painting, with its colors, and characters, is a scary sight. Thefirst thing that I saw upon looking at the painting was agony. The characters looked real and imposing, as if they were in hell. The overall effect was that the subjects of the painting are falling into the fiery abyss. And what I saw from the faces of the subjects was a look of pleasure, yet one of immense pain at the same time. For instance, the puppet and the kneeling woman in the painting had eyes. However, the more I look at it, the more they seem to be hollow slots without eyeballs. The features of the kneeling woman projected a hint of

Million Doolar Baby Film Ananlysis On Class essays

Million Doolar Baby Film Ananlysis On Class essays The film industry is among many influences that contribute to class stereotyping in society. Since its inception, the cinema has inserted itself so much into viewers collective consciousness that it now has the power and ability to influence the way in which they think about society with its onscreen portrayal of characters and social groups. These influences depict social groups with a few predetermined and unchanging attributes. In Million Dollar Baby, Clint Eastwood displays stereotypical representations of low-class citizens from the American South. These characters are typically viewed as lacking refinement, people skills, education and an overall knowledge of the world and its culture. Through a comprehensive analysis of Million Dollar Baby, the different stereotypical generalizations and classifications of the depicted economic class structure will be identified and assessed. As well, an examination of the ideological messages transmitted on the construction of the socia l identity of the characters. Popular film is a powerful force. It has the ability to illustrate and give the illusion of false realities in life. Motion pictures have the capability of showing and teaching us about different groups and classes we are not apart of. According to Langston, class is something that you are born into, class is your understanding of the world and where you fit in; its composed of the ideas, behaviors, attitudes, values, and languages; class is how you think, feel, act, look, dress, talk, move and walk; ... (pg98, Holtzman). These ideas of class gives individuals a social ranking based on their socioeconomic position. Million dollar Baby essentially revolves around and depicts the lives of the working class citizen, which can be further be broken down into upper and lower working class. For the most part, the majority of the characters in the film are apart of the lower working class ...

Effective Project Financial Management Tools Case Study

Effective Project Financial Management Tools - Case Study Example However the above mentioned studies will not be discussed in details. This paper will only evaluate the effectiveness of using cost estimations and budget in financial management project of the two companies. Project financial management is a process which brings together planning, budgeting, accounting, financial reporting, internal control, auditing, procurement, disbursement and the physical performance of the project with the aim of managing project resources properly and achieving the project's development objectives (world bank group). Financial management is the main character for the success of a project process. An accurate and relevant financial information provides a basis for better decisions, thus speeding up the progress of the project and the availability of the funds. An effective financial management provides the following: An effective financial management system is vital for projects because of the need to deliver services to target groups quickly over a large geographic area to a wide variety of stakeholders. One of the tools in financial management that is widely used is the Cost estimation and budget. Budgets are the financial work plan for projects, programs and organizations. Budgets that work are based on realistic assumptions, use good cost estimates and come from organizational processes that include board and staff members (J. Rouse, P.Rouse). Project financial management processes are organized into five groups of one or more processes each: Initiating processes-authorizing the project or phase. Planning processes-defining and refining objectives and selecting the best of the alternative courses of action to attain the objectives that the project was undertaken to address. Executing processes-coordinating people and other resources to carry out the plan. Controlling processes-ensuring that project objectives are met by monitoring and measuring progress regularly to identify variances from plan so that corrective action can be taken when necessary. Closing processes-formalizing acceptance of the project or phase and bringing it to an orderly end. Cost Estimations and Budgets In the financial management done by the ISS (International Space Station) for NASA has shown that the cost growth is contributed to many factors that are beyond the control of the project manager. The Project Manager was not able to clearly communicate the justification for his budget requests and the rationale for the cost growth because NASA has lacked a single standardized accounting system and the program has not developed and maintained a baseline lifecycle cost estimate. Past efforts to control costs through budgetary constraints have failed to achieve their stated purpose and have probably exacerbated the cost growth. The Arizona Department of Transportation (ADOT) was not able to determine the reasons for the cost increases because the data is not readily available from the Federal Highway Administration.

Allan's Repair Services Essay Example | Topics and Well Written Essays - 2250 words

Allan's Repair Services - Essay Example Mitre 10: Metcash sells hardware under this brand name. It also involves home improvement solutions for the end consumers. Metcash Ltd operates in the areas of distribution, fresh food, liquor, fast moving consumer goods and hardware. 2: a) Sale of goods accounting for $11517.4 million was the main source of revenue for the Metcash group. b) Cost of sales was the largest expense for Metcash group. It was $10435.3 million in the year 2010. c) The total comprehensive income for the Metcash group was $229.6 million in the year 2010. d) Return on assets= Net income /Total Assets Return on assets for 2009= 203.2/3286.5 =6.18% Return on assets for 2010= 230.3/3639 =6.33% e) Gross profit margin= Gross profit /Revenue Gross profit margin for 2009=1116.6/11067.5 =10.09% Gross profit margin for 2010= 1172.8/11608.1 =10.10% f) There has been a very slight improvement in the profitability of Metcash Ltd. The return on assets increased from 6.18% in 2009 to 6.33% in 2010. This can be attributed t o the higher sales revenue that Metcash earned in the year 2010 compared to the revenue in the year 2009. Although Metcash purchased more assets to generate the higher revenue, the increase in revenue was more than the proportionate increase in total assets. The gross profit margin of Metcash remained relatively stable at 10.1%. This indicates that costs of Metcash remained relatively stable. Even if there was an increase in the costs, it was matched by a similar increase in the selling price to retain the gross profit margin that was earned by Metcash in 2009. 3. a) The total current assets for the Metcash group were $1974.7 million in the year 2010. b) The total current liabilities for the Metcash group were $1448.4 million in the year 2010. c) Current Ratio= Current Assets /Current Liabilities Current Ratio for 2009=1802.4/1309.8 =1.38 times Current Ratio for 2010= 1947.7/1448.4 =1.34 times d) Quick Ratio= Current Assets-Inventory /Current Liabilities Current Ratio for 2009= (180 2.4-680.5)/1309.8 =0.86 times Quick Ratio for 2010= (1947.7-747.2)/1448.4 =0.83 times e) Liquidity ratios measure the ability of a company to pay off its short term debts. The current ratio of Metcash fell from 1.38 times to 1.34 times. This is due to the increase in the trade payables of Metcash Ltd. The reasons of this increase should be investigated since making timely payments to the creditors is essential to obtain trade discounts. Quick ratio includes only the most liquid of the current assets to assess if a company can cover its current liabilities. Metcash Ltd’s quick ratio also fell slightly from 0.86 times in 2009 to 0.83 times in 2010. A quick ratio of less than 1 indicates that Metcash does not have ample liquid assets to cover its short term obligations. Metcash Ltd’s most of the cash is tied up in inventory and Metcash Ltd should take measures to improve its liquidity position. f) Days inventory= (inventory/cost of sales)*365 Days inventory for 2009= (680 .5/9950.9)*365 =24.96 days Days inventory for 2010= (747.2/10435.3)*365 =26.14 days g) Days Debtors= (Account receivables/Revenue)*365 Days Debtors for 2009= (967.7/11067.5)*365 =31.91 days Days Debtors for 2010= (1008/11608.1)*365 =31.70 days h) The days inventory ratio indicate the number of days it takes to sell the inventory. In the case of Metcash Ltd, the inventory days increased from 24.96 days to

Role of Youth Essay Example for Free

Role of Youth Essay Lack of participation of the youth in community development and family integration may lead to poor skills and characteristics. Community development helps the youth a lot in working their skills, building their character and communicating with others to have a good relationship. Family integration makes the youth more confident c Generally, this topic focuses on the lack of participation of the youth in community development and family integration. Specifically, this topic aims to show these problems; * Lack of communication and awareness of opportunities (Felix, 2003) * Turf issues among organizations competing for youth participants (Felix, 2003) * Lack of diversity, and adultism or the systematic mistreatment of young people simply because of their age. (Felix, 2003) * Youth fear of speaking out (Felix,2003) * Lack of time (Sherrod, Flanagan, Youniss, 2002) * Not being sure of the benefits of their contributions (Israel, Coleman, Ilvento, 1993) As youth are brought into community organizations and civic roles that they have traditionally been excluded from, they can participate in local decision-making at multiple levels. This collaboration leads to skill enhancement, confidence building, and ownership that prepare them as they navigate toward adulthood. All of these can be achieved through participating in activities that pursue community development and family integration. Lacking of participation is seen form the youth. Lack of participation in family integration and community development may lead to a lot of conflict in the society. Communication is the best way to build a relationship with the community and with the family. In this way, the youth can easily participate and contribute to the developments made by the community. The family will serve as a great motivation for the you th to participate well and be efficient in helping developing one’s community. The specific problems points out different pursuits. In the first problem, lack of communication and awareness of opportunities, the reason that this problem occurred is because of the extreme rapid change in the modern civilization, in contrast to modern societies, tend to increase parent-youth conflict, for within a fast changing social order the time interval between generations. Inevitably, under such a condition, youth is reared in a milieu different from that of the parents; hence the parents become old-fashioned, youth rebellious, and clashes occur which is closely confined circle of the immediate family, generate sharp emotion. This conflict will only subdue to not communicating with parents because avoiding arguments with their parents. Another problem that hinders the youth in progressing and doing their role as youth is lack of time. The youth now a days tend to spend their time in paying video games, watching television Parent-youth conflict thus results from the interaction of certain universals of the parent-child relation and certain variables the value of which are peculiar to modern culture . the universals are the basic age or birth cycle differential between parent and child. The decelerating rate of socialization with advancing age, the rsulting intrinsic differences btween old and young on the physiological, psychosocial and sociological planes.

Islam Essay -- essays research papers

2000 Islam and Love Love is an important aspect of Islam. In the Sufi Path of Love, written by Rumi, Love is the central theme. Rumi speaks alot about love and its branches and ramifications. According to Rumi, Love ddominateds most of the Sufi way of life. In a translation of Sufi Path of Love written by William C. Chittuck, Sufi says: "No matter what I say to explain and elucidate Love, shame overcomes me when I come to Love itself. Love cannot be contained within our speaking or listening/ Love is an ocean whose depths cannot be plumbed.... Love cannot be found in erudition and science, books and pages. Whatever is duscussed by people- That is not the way of lovers. Whatever you have said or heard is the shell; The kernel of Love is a mystery that cannot be divulged." Chittuck's translation of this is that Love cannot be explained in words but that it must be felt to be understood. There is not possible way that you can tell someone what love is or write it down to someone so the person may understand. To Rumi, If love isn't felt, then the person will not truly know what love is. To understand the Islamic conception of Love, you must know the Koran's defenition of the term. The Prophet Muhammad once said, "God is beautiful, and He loves beauty." It can be also defined like this: "If something is beautiful, it is worthy of love." In the Vision Of Islam, it says that that whenever God is said to love something, the object of his love are hu...

Hrm Practice in Banking Sector

[pic] Faculty of Business BBA Program A Thesis on Human Resource Management Practices in Banking Sector: On Southeast Bank Limited Submitted to Md. Ashraful Haq Chowdhury ASA University Bangladesh (ASAUB) Submitted By Mir Tasnuva Tanzin BBA (Major in HRM), Batch #2nd ID: 073-12-0137 Date of Submission August 20, 2011 Submission Report Dear Sir, With due respect I would like to inform you that I have successfully completed my Thesis Program from May 15, 2011 to August 15, 2011 at Southeast Bank Limited and conducted the study on â€Å"Human Resource Management Practice in Banking Sector† A case Study on Southeast Bank Ltd. Thesis Program works as a bridge between the academic and the practical knowledge. I am very much fortunate that I got the opportunity to work with some experienced and devoted professionals. As recommended my work is based on the functional procedure of different desks and different departments of the Bank. I tried my best to put meticulous effort for the preparation of this report. Any shortcoming or flaw may arise. I will welcome any clarification and suggestion regarding this report. Sincerely Yours, Mir Tasnuva Tanzin ID 073-12-0137 Batch #2nd Student of BBA ASA University Bangladesh August 20, 2011 Md. Ashraful Haq Chowdhury ASA University Bangladesh. Reference : Letter of Transmittal Dear Sir, Here is the report that fulfills the partial requirements of Thesis program, which is very helpful for a student to know the activities of an organization. This kind of report also gives an important guideline to do research in the future. Thank you very much for your kind supervision and cooperation without which I could not be able to complete this report. I take every opportunity to express my gratitude to you. Thanking you Mir Tasnuva Tanzin ID 073-12-0137 Batch #2nd Student of BBA ASA University Bangladesh Acknowledgement All commendations go to Almighty Allah, the most merciful, most benevolent to man and his action. I would like to express my gratitude to Mr. M. A Mohit the Deputy Managing Director (DMD) of Southeast Bank Ltd. for giving an opportunity to work on the topic as student. I am greatly indebted to Mr. Md. Hamidul Islam Mia HOB of Dhanmondi Br. And HRD of Southeast Bank Ltd. for providing excellent working environment and his full time assistance in preparing this report. I extend my thanks to Mr. Saidul Islam, Mr. Reza, and Mr. Humayon of Southeast Bank Ltd. Dhanmondi Br. Who have their well hearted cooperation and valuable time in completing this report I am also grateful to all the employees of Southeast Bank Ltd. Of Dahnmondi Branch as they helped me out in explaining the work practice and accompanied me through my research period. Finally, my thanks to ASA University (ASAUB) authority for sincere ooperation and all the faculty members whose integrated effort made me capable of conducting this Thesis. Executive Summery This report is an effort to reflect a clear idea about the Bunker-Customers Relationship, strategies, activities and performance of Southeast Bank Ltd. The researcher was assigned it in the Dhanmondi Branch of Southeast Bank Limited (SEBL) as an intern. The researche r presents this report on the basis of the knowledge and experience gained during the research period. The research report is a partial fulfillment of BBA program. In the report on HRM practices in banking sector: A case study on Southeast Bank Ltd. the overall role of HR managers in a bank and how they play their role is presented. Human resource managers perform an identifiable set of activities that affect and influence the people who work in an organization. These activities include HR planning, job analysis, recruitment, selection, placement, training and development, designing performance assessment and compensation systems, and labor relation Since, the HR department plays a support role within the organization; it interacts with a variety of constituencies. TABLE OF CONTENTS |Page# | |Prefatory parts | | |Title Fly | | |Title Page | | |Later of Submission | | |Acknowledgement | | |Executive Summery | | |Table of Content | | | | | |Report proper | | |Chapter One- Introduction | | |1. 1 Background of the study | | |1. 2 Objective of the report | | |1. Methodology of the report | | |1. 4 Scope of the report | | |1. 5 Limitation of the repo rt | | |Chapter Tow – Overview | | |2. 1 Historical Background of Southeast Bank Ltd. | | |2. 2 Special Features of the Bank | | |2. Board of Directors | | |2. 4 Management of the Bank | | |2. 5 Capital Structure of the Bank | | |2. 6 Deposits Status of the Bank | | |2. 7 Profit and operational results | | |2. 8 Selection Process | | |2. Mission, Vision and Objective of SEBL | | |Chapter Three – Understanding the HRM | | |3. 1 General Concept of HRM | | |3. 2 Objectives of HRM | | |3. 3 Basic Principles of HRM | | |3. Approach of HRM | | |3. 5 Philosophy of HRM | | |3. 6 Standard Organ gram of HR Department in a large organization | | |3. 7 Responsibilities of HR Department in a large organization | | |Chapter Four – HR Planning & Forecasting | | |4. Concept of HR planning & forecasting | | |4. 2 Steps of HR planning | | |4. 3 HR planning and the strategic planning process | | |4. 4 Forecasting HR needs | | |4. 5 Forecasting the Internal HR Supply | | |4. Foreca sting the External HR Supply | | |Chapter Five – Recruiting & Selection | | |5. 1 Concept of Recruiting & Selection | | |5. 2 The Recruiting and Selection Process | | |5. 3 Job Analysis | | |5. Job Analysis Methods | | |5. 5 Steps in job Analysis | | |5. 6 A Comparative Discussion between Job Analysis, Job Description, Job Specification, and Job Evaluations. | | |5. 7 Sources of equipment | | |5. 6 Internal sources | | |5. 7 External sources | | |5. 8 Methods of recruitment | | |5. Advantages & disadvantages of internal recruitment | | |5. 10 Advantage & Disadvantage of external recruiting | | |Chapter Six – Training & Development | | |6. 1 Concept of Training & Development | | |6. 2 Need and important of training | | |6. Objectives of Training | | |6. 4 Guidelines and Framework to Design a Training and Development Plan | | |6. 5 Training method | | |Chapter Seven – Compensation & Employee Benefits | | |7. 1 Concept of Compensation & Employee Benefits | | |7. Co mponents of the compensation system | | |7. 3 Wages vs. Salary | | |7. 4 Establishing Pay rates | | |7. 5 Importance of Job Evaluation | | |7. 6 Types of Employee Benefits | | |7. Employees Benefit Programs initiated by HRM | | |7. 8. Employee Services | | |7. 9 Incentive Plans | | |Chapter Eight – Employee Relationship | | |8. 1 The Meaning of Ethics | | |8. 2 Organizational culture | | |8. Employee Discipline and Privacy | | |8. 4 Types of Disciplinary Actions | | |8. 5 Disciplinary Proceeding | | |8. 6 Disciplinary Appeals Processes | | |8. 7 Disciplines without Punishment | | |8. Managing Dismissals | | |8. 9 Grounds for Dismissal | | |Chapter Nine | | |Conclusion | | |Bibliography | | Chapter 1 Introduction 1. 1 Background of the study There is no doubt that the world of work is rapidly changing. As part of an organization then, HRM must be prepared to deal with the effects of the changing world of work. For them, this means understanding the implications of globalization, technology changes, workforce diversity, changing skill requirements, continuous improvement initiatives, contingent workforce, decentralized work sites and employee involvement. We should look how this change is affecting HRM goals and practices. The current challenge of HRM is to integrate programs involving human resources with strategic organizational objectives. More and more, organizations are under tremendous competitive pressure worldwide. HR managers must find ways to develop effective programs to meet this challenge. Another important aspect of HRM is the need to ensure cost effectiveness of programs and policies through the optimal utilization of human resources. 1. 2 Objective of the report The broad objective of the report is to co-ordinate classroom knowledge with practical situation. Specific objectives of the report are: ? To fulfill the course requirement of MBA program; ? To acquire practical knowledge about HRM practices in banking sector’ ? To have practical exposure in banking environment that will help a lot of to understand the future work life; ? To analyze HRM practices in Southeast Bank Limited with classroom (theoretical) knowledge; ? To recommend for improvement of existing HR policy of Southeast Bank Limited. 1. 3 Methodology of the report Methodology includes direct observation, face-to-face discussion with respective executive of the bank, study of files, circulars etc. and practical work. In preparing this report, only secondary data have been used. The required data have been collected from following sources- ? Employees service book of the bank; ? Annual report of the bank; ? Different publications regarding banking function; ? Reference books from library of Stamford University Bangladesh. 1. 4 Scope of the report This report covers only human resource practices is Southeast Bank Limited. It focuses on overview of the bank including a comparative study about standard theoretical aspect of HRM and the existing banking practices. The report also investigates the perceptions of employees of the bank toward employee benefits and development policy. 1. 5 Limitation of the report In spite of hearted cooperation from the bank officials, I faced some limitation in preparation the report. The major limitations are as follows: Learning of overall HRM practices in banking sector within just three months was really tough. Another limitation of this report is bank bank’s policy of not disclosing some data and information for obvious reason, which could be very much useful. Chapter 2 An Overview of Southeast Bank Ltd. 2. 1 Historical Background of Southeast Bank Ltd. Southeast Bank Limited is a scheduled Bank under private sector established under the ambit of bank Company Act, 1991 and incorporated as a Public Limited Company under Companies Act, 1994 on March 12, 1995. The Bank started commercial banking operations effective from May 25, 1995. During this short span of time the Bank had been successful to position itself as a progressive and dynamic financial institution in the country. The Bank had been widely acclaimed by the business community, from small entrepreneur to large traders and industrial conglomerates, including the top rated corporate borrowers for forward-looking business outlook and innovative financing solutions. Thus within this very short period of time it has been able to create a image for itself and has earned significant reputation in the country’s banking sector as a Bank with vision. It has been growing faster as one of the leaders of the new generation banks in the private sector in respect of business and profitability as it is evident from the financial statements for the last 4 years. The Company Philosophy – â€Å"A Bank with Vision† has been preciously the essence of the legend of bank’s success. 2. 2 Special Features of the Bank a) It has been performing conventional commercial banking activity and striving to introduce Islamic Banking functions. ) It is the pioneer in introducing and launching different customer friendly deposit schemes to tap the savings of the people for channeling the same to the productive sectors of the economy. c) For uplifting the standard of living of the limited income group of the population the Bank has introduced Consume r Credit Schemes by providing financial assistance in the form of loan to the consumers for procuring household durables, which have had encouraging responses. d) The Bank is committed to continuous research and development so as to keep pace with modern banking. e) The operations of the Bank are fully computerized so as to ensure quick, prompt flawless and services to the customers. 2. 3 Profile Southeast Bank Limited was established in 1995 with a dream and a vision to become a pioneer banking institution of the country and contribute significantly to the growth of the national economy. The Bank was established by leading business personalities and eminent industrialists of the country with stakes in various segments of the national economy. The incumbent Chairman of the Bank is Mr. Alamgir Kabir, FCA, a professional Chartered Accountant. Mr. M. A. Kashem a member of the Board and Mr. Yussuf Abdullah Harun were past Presidents of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI). Southeast Bank is run by a team of efficient professionals. They create and generate an environment of trust and discipline that encourages and motivates everyone in the Bank to work together for achieving the objectives of the Bank. The culture of maintaining congenial work – environment in the Bank has further enabled the staff to benchmark themselves better against management expectations. A commitment to quality and excellence in service is the hallmark of their identity. 2. 4 Board of Directors In SEBL the board of directors has been conceived as the sources of all power headed by its chairman. It is legislative body of the bank board can delegate its power and authority to professionals, but can not delegate, relinquish or avoid their responsibilities. The board of directors of the bank consists of 13 members who are reputed business personalities and leading industrialists of the country. 2. 5 Management of the Bank The management team headed by the CEO, Shah Md. Nurul Alam, the President and Managing Director has to take full loan of carrying out the guidelines, rules and regulations and directions given by the board from time to time and provide all the vital information to the BOD for their knowledge and effective decision making. A graphical representation of the hierarchy of the bank is in point. 2. 6 Capital Structure of the Bank The Authorized Capital of the Bank remains unchanged at Tk. 500. 00 million. The Bank went public and floated shares of Tk. 150 million in December of the previous year which was fully subscribed, thereby raising the issued and paid-up Capital to Tk. 330 million. With the increase of paid up capital, the capital base of the Bank has become stronger. 2. 7 Deposits Status of the Bank The Bank mobilized a total deposit of Tk. 38,258. 15 million as on December 31, 2005 as against Tk. 27, 930. 8 million as on December 31, 2004 showing an increase of 30%. The combination of competitive interest rates that offered sustained deposit raising efforts of the Bank and confidence reposed by customers in the Bank resulted in this growth of deposits. Steps are being taken to further increase the deposit base continuously at a Reduced average cost of funds. 2. 8 Profit and operational results The operating profit of the Bank increased to Tk. 665. 16 million in 2003 compared to Tk. 492. 56 million in 2002 recording an appreciable increase which was due to prudent lending and optimum management of funds. The Bank participated in the primary and secondary stock markets and made considerable capital gains during the year. Notwithstanding the tough and cutting edge competitiveness prevailing in the market, the business of this Bank has expanded substantially compared to that of the previous year. This year the management team as well as the workforce is confidently poised to take on newer challenges with a view to reach the ambitious level of performance in respect of accomplishment of the total business activities including attainment of higher profitability of the Bank. 2. 9 Selection Process Southeast Bank Ltd recruits employees on the basis of newspaper circulation & by online e-application on Southeast Bank Limited's web site. At the e-application section candidates are obligatory to drop their CV & on the foundation of Southeast Bank Limited's vacancy & precedence candidates are required to follow their selection procedure as follows: Step 1: Completed application: The application form is given in the online and completely filled applications are carried forward for the preliminary test (employment test). Step 2: Employment test: The Human Resource department mails the admit card to the applicants who have completed the online application successfully via post card. The questionnaire of the test is based on mathematics, English and the respective job questions. It is usually held on 100 marks. The employment test typically holds in any government major educational center. Such as teachers training college of Dhaka, etc. Step 3: Comprehensive interview The applicants passed in the employment written test are called by the bank. They are mailed an invitation for the viva-voce for their post. The applicants have to bring their original educational certificates for producing the same before the interview committee. The certificates are tested here with the application form information. And if any disparity is found the applicant is not allowed confront the interview committee. The passed applicants are given conditional job offer. For permanent job offer they have to pass background examination & medical test steps. Step 4: Background examination: The Human Resource Department scrutinizes the background of the applicant and tries to find out all ins and outs of the respective applicant. The applicants are kept unknown about the background enquiry source. Step 5: Medical test: The applicants are to go for a medical check-up to the authorized medical center Southeast Bank Ltd. Southeast Bank Limited does not carry the medical fees. It is to be carried by the applicant himself. The test report directly goes to the Human Resource Department and the applicants are not permitted to see it. Step 6: Permanent job offer If the 6th, Background examination, and the 7th Medical test, steps are passed successfully, Human Resource Department of Southeast Bank Limited sends an ‘Appointment as Probationary Officer' letter. At the amalgamation day, the applicants are bound to sign up a ‘Letter of Undertaking' for five years continuous service to the bank from the date of confirmation. If he leaves before completion of 5 years confirmed service or during the probation period he will have t refund to the bank 50% of total salary and allowances drawn to him 2. 9 MISSION, VISION AND OBJECTIVES OF SEBL Mission The mission of the bank is to become a highly competitive modern and transparent institution comparable to any of this kind at home and abroad. High quality financial services with state of the art technology. ? Fast customer service. ? Sustainable growth strategy. ? Follow ethical standards in business. ? Steady return on shareholders, equity. ? Innovative banking at a competitive price. ? Attract and retain quality human resource. Commitment to Corporate Social Responsibility. Vision A Bank with Vision is the motto of Southeast Bank Limited. The vision is to be the most efficient financial intermediary in the country through reducing the investment and savings gap of the economy by savings mobilizations and encourage the pace of industrialization. The relentles s journey to achieve that vision started in 1995, since the very inception of the Bank. The journey still continues and will never stop. SBL sets a high standard for itself and every achievement of the bank is a striving agent to reach a new height. Objectives Whether in treasury, consumer, or corporate banking, SBL is committed to provide the best. Meeting the demand of discerning customers is not the sole objective. The Bank believes that to provide standard financial services is to deliver a quality that makes every transaction a pleasurable experience. The bank also believes that Customer is always right and in the core of everything. So providing them friendly and personalized service, tailor-made solutions for business needs, global reach in trade and commerce at the doorsteps and high yield on investments are the core objectives of the bank. But the bank also tries to do the best in conjunction with achieving the ultimate objective of a business organization – Wealth Maximization. Chapter 3 Understanding the HRM 3. 1 General Concept of HRM HRM deals with the design of formal system in an organization to ensure effective and efficiency use of human talents to accomplish organizational goals. Human Resource Management (HRM) is to refer to the philosophy, policies, procedures and practices related to the management of people within an organization. Hr management functions through which manager recruit, select, train and develop organization members. HRM is the systematic planning, development and control of network of interrelated processes affecting and involving all members of an organization. These processes include- ? HR planning & forecasting Job & work design ? Staffing/ recruitment & selection ? Training & development ? Performance appraisal & review ? Compensation & reward ? Employee protection & representation ? Organization & improvement 3. 2 Objectives of HRM The objective of HRM can be described as follows- ? To hire the right person for the job ? To reduce emp loyee turnover ? To motive people to perform at high effort levels. ? Not to waste time with useless interviews. ? To remove unfair labor practices. ? To maintain a high morale & better human relations inside the origination. ? To maintain organizational peace. ? To attract competent people and retain them in the organization. To recognize and satisfy individual needs. 3. 3 Basic Principles of HRM ? Treat people with respect and dignity; ? Treat people as adults; ? Deal with people as complete individuals. ? Treat all employees with justice. ? Provide people with justice. ? Provide people with opportunities for growth and development. ? Make people feel that they are most valuable asset for the organization. ? Rewards should be earned, not given. ? Not to underestimate the potentials of people. ? Provide people with all relevant information. 3. 4 Approach of HRM Strategic approach People are the strategic asset of an organization. People have core competency, the basis of competitiv e advantage. Human resource approach People are human beings with a lot of potentials and intellectual abilities. Commodity approach People are commodity. They are viewed as a cog of a machine. Proactive approach Anticipate challenge of problem before they arise. Preventive is better than curative. 3. 5 Philosophy of HRM 1) Labor is viewed as a technical factor of production. They are treated as a commodity and they can be bought and sold. They are hired and fired at will. It is consistent with theory X. 2) Labor is viewed as human factor with a lot of positive potentials, so they must be treated with respect and dignity. This is consistent with theory Y of McGregor. 3. Standard Organ gram of HR Department in a large organization In organizations large enough to have a HR or personnel department, the personal director and his or her staff will play a key role in the designing and monitoring of human resources system. Larger organizations are more likely to help design and implement HR system. A f ull-time specialist tends to emerge when organization have about one hundred employees. A standard structure of HR department in a large company of several thousand employees is shown below: Fig: Structure of HR Department in a Large Organization 3. 7 Responsibilities of HR Department in a large organization |Position |Responsibilities |VP , HR |Executive committee, Organization planning, HR planning, Policy, Organization development | |AVP, Recruitment & Employment |Recruiting, Interviewing, Testing, Placement & Termination | |AVP, Compensation & Benefits |Job analysis and evaluation, Surveys, Performance appraisal, Compensation administration, | | |Bonus, Profit sharing plans, Employee benefits. | |AVP, Training & Development |Orientation, Training, Management development, Career planning & Development. | |AVP, Employee Relation |EEO relations, Contract compliance, Staff assistance programs, Employee counseling. | Chapter 4 HR Planning & Forecasting 4. 1 Concept of HR planning & f orecasting HR planning is the first step in the recruiting and selection process. Human resource planning is the process of assessing the organization’s human resources needs in light of organizational goals and making plans to ensure that a competent stable workforce is employed. † – Wendell French. â€Å"Personnel planning is the process of deciding what positions the firm will have to fill, and how to fill them. â€Å"—Gary Dessler. In the words of Colman Bruce (1997) HRP is the process of determining manpower requirements and the means of meeting those requirements in order to carry out the integrated plan of the organization. According to the above definitions, HRP consists of the following elements: ? Establishing and recognizing the future job requirement ? Identifying deficiency in terms of quantity Identifying deficiency in terms of quality& specification ? Identifying the sources of right type of man ? Developing the available manpower and ? En suring the effective utilization of workforce. 4. 2 steps of HR planning HR planning is a process involving few stages: ? Integrate HR planning with corporate planning The first stage of HR planning is to integrate it with corporate planning. All manpower planning stems from business plans in relation to a corporate strategy. ? Forecasting internal & external environment The second stage in HR planning is to forecast of assess the internal and external environmental factors include government influences economic, geographic and competitive condition. Assessment of internal HR capabilities The next stage is the analysis of internal inventory of HR capabilities. Assessment of internal strengths and weakness as a part of HR planning requires the current job and employees capabilities are audited and organizational capabilities are inventoried. ? Predicting & Forecasting HR demand and supply The information gathered from external environmental scanning and assessment of internal strengt hs and weaknesses is used to predict of forecast HR supply and demand in light of organizational objectives and strategies. ? To locate the required HR Once the demand for HR has been forecasted, then their availability must be identified. The fourth stage of HR planning is to locate the sources from where personnel required will be available. The source may be internal and external. ? Allocation of HR The final stage of HRP is concern with allocation of human resources within organization overtime. 4. 3 HR planning and the strategic planning process HR planning should be an integral part of a firms strategic and HR planning process. The effective HR planning and strategic planning process is shown below: Fig: HR Planning Process 4. 4 Forecasting HR needs When a firm makes a plan for employment requirements, the firm usually needs to forecast personnel needs, the supply of inside and outside candidates. Different techniques like trend analysis, ratio analysis, and scatter plot can be used to estimate staffing needs. ? Trend analysis Trend analysis means studying variation in the firm’s employment levels over last five years. ? The scatter plot A Scatter plot shows graphically how to variables; business activity and firms staffing levels are related. For example, a newly established bank, which has 20 branches, expects to expand to 50 branches over the next five years. The HR director wants to forecast the requirement of manpower. The director can analyse the relationship between size of another 5 well-reported banks (in terms of number of branches) and their existing manpower. |Name of banks |Size (number of branch. |Existing manpower | |Prime bank |41 |1024 | |Dhaka bank |29 |688 | |NCC bank |41 |1000 | |Exim bank |28 |934 | |Southeast bank |38 |765 | If the bank carefully draws in a line to minimize the distances between the line and each one of the plotted points, the bank will be able to estimate the optimum number of staff needed for each bank size. Thus, for a 50 branches bank, the HR director would assume he needs nearly 1100 staffs. ? Ratio Analysis A forecasting technique for determining future staff needs by using ratio between, for example, number of customers and employee needed. 4. 5 Forecasting the Internal HR Supply Once the demand for labor is predicted, it is necessary to forecast the supply of labor that the organization will already have available to meet the demand. The internal supply of labor consists of all the individuals currently employed by an organization. The internal supply of labor is discharged. To predict the future supply the organization needs to maintain amanagement inventory chart and Human Resource Information System (HRIS). 4. Forecasting the External HR Supply The firms can’t always get all the empliyees they need from their current staff and some time they just don’t want to. So, forecasting the availability of outside supply is extremely important in human resource planning. Bec ause of the need for continuous and adequate staffing, every enterprise depends on the quality and quantity of human resources external to it. Chapter 5 Recruiting & Selection 5. 1 Concept of Recruiting & Selection Recruiting is the process of discovering potential candidates for actual or anticipated organizational vacancies. It involves searching and sourcing for viable job candidates. Recruitment is the process of finding qualified people and encouraging them to apply for work with the firm. On the other hand, selection is the process of choosing among those who do apply. Once an effective recruitment program has supplied enough applicants’ pool the organization faces the task of choosing the best ones for specific jobs. 5. 2 The Recruiting and Selection Process The recruitment process – putting the right people in the right positions at the right times- is one of the most critical tasks any organization faces. Throughout the recruitment process the organization attempts to â€Å"sell† itself to the more promising candidates – that is, to convince them that the organization is a good place to work. The standard recruitment process of a large organization is – Fig: The Recruiting Process Personnel selection is a process of measurement, decision-making and evaluation. The goal of personnel selection system is to bring into organization individuals who will perform well on the job. The standard selection process of large organization typically consist of eight steps : Failed Failedpassed Failed passed Failedpassed passed Problems passed Unfit Fig: The Selection Process 5. 3 Job Analysis A job analysis is a systematic exploration of the activities within a job. It is a technical procedure used to define the duties, responsibilities, and accountabilities of a job. This analysis involves the identification and description of what is happening on the jib – accurately and precisely identifying the required tasks, the knowledge, and the skills necessary for performing them, and the conditions under which they must be performed. 5. 4 Job Analysis Methods The basic methods that HR manager can use to determine job elements and the essential knowledge, skills, and abilities for successful performance include the following – 1) Observation Method Observation method is a job analysis technique in which data are gathered by watching employees work. 2) Individual Interview Method Using the individual interview method, a term of job incumbents is selected and extensively interviewed. The results of these interviews are combined into a single job analysis. 3) Group Interview Method Meeting with a number of employees to collectively determine what their jobs entail. 4) Questionnaire Method Under the questionnaire Method, workers are sent specifically designed questionnaire on which they check or rate items they perform on their job from a long list of possible task items. 5) Technical Conference Method A job analysis technique involves extensive input from the employee’s supervisor. 6) Diary Method The diary method requires job incumbents to record their daily activities. 5. 5 Steps in job Analysis The steps involved in conducting the job analysis include: Fig: Steps in a job analysis 5. A Comparative Discussion between Job Analysis, Job Description, Job Specification, and Job Evaluations. Job Analysis The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it. Job Description A job description is a written statement of what the jobholder does, how it is done, under what condition it is done and why it is done. It is a list of job duties, responsibilities- one product of a job analysis. ? Job Specification The job specification states the minimum acceptable qualifications that the incumbents must possess to perform the job successfully. ? Job Evaluations Job evaluation specifies the relative value of each job in the organization. 5. 7 Sources of equipment There are two sources of requirement: internal and external. Deciding whether the position is to be filled internally or externally is often as early task in recruitment planning for a specific vacancy. Entry-level jobs must be filled externally, but for other positions, internal sources are used. Internal sources are as – ? Hiring relative and dependents of the existing employee; ? By promotion and transfer of existing employees; ? From employees on leave, long course deputation of loan from similar other organization. External sources are as – ? New entrants as fresher from school and colleges; ? Educated unemployed due to lack of opportunities elsewhere; Retired hands with experiences; ? Head hunting. 5. 8 Methods of recruitment There are two methods of recruitment this are – ? Method for internal recruitment ? Job position Job position involves announcing job openings to all current employees. The announcement carry information about the nature of the positio n and the qualifications needs and any employee who is interested may did no the job. ? Employee Referrals Another way to find applicants is through employee referrals by other departments. Informal communications among managers can lead to the discovery that the best candidate for a job is already working in a different section of the firm. ? Skills Inventories Information about every employee’s skills, education, work history and other important factors is stored in a data base, which can then be used to identify employees with the attributes needed for a particular job. ? Method for external recruitment Finding qualified applicants from outside the organization is most difficult part of recruitment. Typically, the external recruitment process uses different methods: ? Advertising Advertising is one of the most popular methods. The most useful advertisement is one that specifies the exact nature of the job, the qualifications required and the salary range. The advertising medium should be selected carefully, with the target audience in mind. ? Employment Agencies There are three types of employment agencies: a) Public agencies; b) Private employment agencies; c) Management consulting firm. Educational institutions generally have placement offices to assist their graduates in finding work. Unfortunately, these kinds of agencies are not popular in our country. ? Campus recruitment Sending an employer’s representatives to college campuses to screen potential applicants and create an applicant pool from the recent graduate is called campus recruiting. It is an important source of management trainees, promotable candidates and professional and technical employees. ? Internship Many college students get their jobs through college internship. Internship is important manpower source for the organization. Internship can be win-win situation for both students and employers. ? Professional Organization Many professional organizations operate placement services for the benefit of their members. These organizations publish of job vacancies and distribute these lists to members. ? Employee leasing Individuals who are hired by one firm and sent to work for a specific duration of time are called leased employees. When an organization has a need for specific employee skills, it contracts with the leasing firm to provide a certain number of trained employees. ? Personal contact Another means of recruiting is the personal contact. Some times personal and good communication can provide an opportunity to get experience manpower as well as better job offer. 5. 9 Advantages & disadvantages of internal recruitment When internal recruiting is used, the vacancy is filled by a person of known ability. There are some benefits of internal recruitment: ? Improve goodwill of the organization; ? Improve morale and motivation of employees; ? Improve probability of better selection since the candidate is better known to the organization; ? Less costly. In the case of internal recruitment, the firm also faces some difficulties ? In breeding prevents injection at new blood in the organization. ? Option in limited in locating right talents. Inhibits innovation and creativity. ? Encourage seniority mire then merit. ? Higher probability of likes or dislikes. 5. 10 Advantage & Disadvantage of external recruiting External recruiting can bring in new ideas and viewpoints. Another advantage are – ? Injection of new blood with new knowledge and creativity. ? Economic in the long run. There are some disadvantages of external recruiting – ? External recruiting is the costly; ? Cause brain drain due to fear of lack of growth potential; ? Hanger probabilities of employee turn over; ? Demoralize existing employee. 5. 11 Practices in the Bank Recruitment Objectives of the Bank: ? To build a jubilant worthy cadre of officers. To provide the bank with an efficient and cost effective human resource setup. ? To keep bank free from unhealthy practice of Trade Union. The bank strictly follows all steps of recruiting and selection process to achieve above-mentioned objectives. The bank recruits from both internal and external sources. The bank makes its applicants pool only by newspaper advertising. Some times they recruit from internship student, where foreign banks i. e. HSBC and Standard Chartered bank, recruit major of their fresh executives from internship students pool. But the bank normally does not go f or campus recruitment as well as other methods. Chapter 6 Training & Development 6. 1 Concept of Training & Development Training is a planned effort by an organization to facilitate employee’s learning of job related knowledge and skills for the purpose of improving performance. Training is the process of teaching new employees the vasic skills they need to perform their job. Training is a learning experience that seeks a relatively permanent change in individuals that will improve their ability to perform on the job. The training function, now popularly called HR development. Employee development, by design is more future oriented and more concentrated with education than employee job – specific training. Development therefore, focuses more on the employee’s personal growth. 6. 2 Need and important of training Training is mainly job-oriented; it aims at maintaining and improving current job performance. The need for the training program may arise due to the following: ? Entry of new recruits ? Promotion ? To increase productivity ? To improve quality ? To met organizational objective ? To prevent accident ? To support personal growth and development 6. 3 Objectives of Training 1. Establish a comprehensive understanding of the target audience community in Partner regions, 2. Identify and agree the target group(s) for the training needs analysis (TNA) within partner regions, 3. Design and implement an analysis of training needs questionnaire, 4. Analysis and document perceived training needs 6. 4 Guidelines and Framework to Design a Training and Development Plan 1. Education for Social Change (Popular and Folk Education) Free Online Lesson Plans, Lecture Notes, etc. 2. Online Resources (each having lists of resources) About Training and Development 3. Online Educational Directories, Learning Portals, etc. About T&D 6. 5 Training method Training methods consider the choice of method for employee training. With training objectives defined and learning principles in mind. Methods of training are basically tow types- ? On the job training The initial stages in the planning and design of an on the job training are: a) Refer to the agreed objectives for the training as produced in the TNA or the initial planning stages. ) Consider the identified target learning population and how they might affect the training design. c) List the ways in which each objective might best be met. d) Decide whether the learning might be best achieved by an on the job or off the job training. ? Off the job training Off the job training:- Off the job training is conducted in a location specifically designated for training. It may be near the work place or away form work, at a special training center or a resort. Conducting the training away from the work place minimizes distractions and allows trainees to devote their full attention to the material being thought. Chapter 7 Compensation & Employee Benefits 7. 1 Concept of Compensation & Employee Benefits Once employees have done their jobs and been appraised, they expect to be paid. Employee compensation refers to all forms of pay or rewards going to employees and arising from their employment. It has two main components: (1) Direct financial payments (wages, salaries, incentives, commissions and bonuses), and (2) Indirect payments (financial benefits like employer-paid insurance and vacations, child care facilities). In addition to compensation in the form of wages and salaries, HRM provides workers with various services and programs known as employee benefits. 7. 2 Components of the compensation system Fig:-Components of the compensation system 7. 3 Wages vs. Salary The words wage and salary are sometimes considered synonymous, but they have slightly different meanings. Wage refers to an hourly rate of pay and is the pay basis used most frequently for production and maintenance employees. Salary refers to a weekly, monthly or yearly rate of pay. Clerical, professional, sales and management employees are usually salaried. 7. 4 Establishing Pay rates The process of establishing pay rates while ensuring external, internal and procedural equity consists of five steps: 1) Conduct a Salary Survey The first step of establishing pay rates is to conducting a salary survey of what other employers are paying for comparable jobs. A survey aimed at determining prevailing wages rates. A good salary survey provides specific wage rates for specific jobs. 2) Job Evaluation Job evaluation is a systematic comparison done in order to determine the worth of one job relative to another. It is a formal and systematic comparison of jobs to determine the worth of one job relative to another and eventually results on a wage or salary hierarchy. 3) Group Similar Jobs into Pay Grades Once has used job evaluation to determine the relative worth of each job, the committee can turn to the task of assigning pay rates to each job; however, it will usually want to first group jobs into pay grades. It could, of course, just assign pay rates to each individual job. A pay grade is comprised of jobs of approximately equal difficulty or importance as established by job evaluation. 4) Price Each Pay Grade – Wage Curves The next step is to assign pay rates to the firms pay grades. The firm can use a wage curve to help assign pay rates to each pay grade. The wage curve shows the relationship between the value of the job and the average wage paid for this job. 5) Five – Tune Pay Rates Five – tuning involves developing pay range and correcting out of line rates. Pay ranges is a series or levels within a pay grade, usually based upon years of service. 7. 5 Importance of Job Evaluation Job evaluation is aimed at determining a job’s relative worth. It compares jobs to one another based on their content, which is usually defined in term of compensable factors like skills, effort, responsibility, and working conditions. 7. 6 Types of Employee Benefits a) Mandatory Benefits Organizations are required to pay these benefits to the employees by law, rules, acts or ordinance. Example: Salary, Bonus. b) Non-mandatory benefits Optional programs and services such as tuition refunds, variety of discount programs, day care facilities for children, credit program etc. 7. 7 Employees Benefit Programs initiated by HRM There are many benefits and various ways to classify them. We can classify them as I. Pay for time not worked II. Insurance benefits III. Retirement benefits IV. Service benefits 7. 7. 1 Pay for Time Not Worked Pay for time not worked – also called supplemental pay benefits- is one of an employer’s most costly benefits, because of the large amount of time off that many employees receive. Common time off with pay periods include holidays, vacations, jury duty, funeral leave, personal days, sick leave, sabbatical leave, maternity leave and unemployment leave insurance payment for laid off or terminated employees. The following figure illustrates a wide rage of such benefits: Fig:- Payment for time not worked. 7. 7. 2 Insurance Benefits Most employers also provide a number of voluntary insurance benefits. Medical or health insurance is a major optional protections benefit offered by employers. Insurance benefits include worker’s compensation, group hospitalization, accident, disability insurance and group life insurance. ? Worker’s Compensation Worker’s compensation provides promote income and medical benefits to work related accident victims or their dependents regardless of fault. Worker’s compensation benefits can be monetary or medical. In the event of a worker’s death or disablement, the person’s dependents are paid a cash benefit based on prior earnings. ? Health and Disability Insurance Health and disability insurance helps protect against hospitalization costs and the loss of income arising form off-the-job accidents or illness. Many employers purchase the insurance from life insurance companies. Most health insurance plans provide at least basic hospitalization and surgical and medical insurance for all eligible employees at group rate. ? Life Insurance Group life insurance provides cower rate for the employer of employee and includes all employees, including new employees, regardless of health or physical condition. In addition to hospitalization and medical benefits, most employers provide group life insurance plans. In many cases, the employer pays 100% or 50% of the basic premium, which usually provides life insurance. 7. 7. 3 Retirement Benefits A very important benefit to most employees is a retirement plans. The major retirement benefits are the social security program and pension plans. ? Social Security Most people assume that social security provides income only when they are over 60, but it actually provides three types of benefits: The familiar retirement benefits- provide an income if the employee retire at 60; survivor’s or death benefits payable to the employee’s dependents regardless of age at the time of death; and disability benefits payable to disabled employees and their dependents. These benefits are payable only if the employee is insured under the social security Act. ? Pension Plans Pension plans provide a fixed sum when employees reach a predetermined retirement age or when they can no longer work due to disability. There are many kinds of pension plan: ? Contributory VS. Noncontributory Under contributory plans, both employees and employers are required to contribute to the pension fund, while under noncontributory plan; pension funding is the sole responsibility of the employer. In noncontributory plans where contributions are based on company profits (deferred profit sharing plans), accumulated funds are usually allocated on the basis of salary. ? Defined benefit VS. Defined contribution plan With defined benefit plans, the employee knows ahead of time the pension benefits he/she will receive. The defined pension benefits itself is usually set by a formula that ties the person’s retirement pension to an amount. Defined contribution plans specify what contribution the employee and employer will make to the employee’s retirement or savings fund. Here, in other words, the contribution is defined, not the pension. With a defined benefit plan the employee knows what his/her retirement benefits will be upon retirement. With a defined contribution plan, the person’s pension will depend on the amounts contributed to the fund and on the retirement fund’s investment earning. 7. 8. 4 Employee Services In addition to the benefits describe above, organization’s offer a wealth of services employees may find desirable. These services can be provided to the employee at no cost or at a significant reduction from what might have been paid without the organization’s support. Services provided to employees may be- ? Wellness Program In an effort to stimulate wellness, many employees can provide recreational facilities for employees or reimburse employees for health club memberships. Other companies provide incentives for employees to participate in exercise programs, ‘quit smoking, lower blood pressure or cholesterol or to take similar steps toward good health. ? Educational Assistance Another important benefit is educational assistance. Some times companies offer monthly stipends for students. Typically, employees are reimbursed for tuition and possibly for books or other associated costs. ? Child-care Assistances It is likely that every major company will soon consider offering child-care assistance as an employee benefit. In most recent year this benefit is being popular in our country because of the number of women in the labor market has increased dramatically. ? Another Services are Another important services, that can be provided by the company are: Social and recreational events, employee assistance programs, credit unions, housing, tuition reimbursement, company paid transportation, free coffee, baby-sitting services or referrals. 7. 9 Incentive Plans Manager may offer group and individual incentive plan those ties pay to some measure of he firm’s overall profitability. Several incentive plans are: ? Piecework Plans A system of pay based on the number of items processed by each individual worker in a unit of time, such as items per hour or items per day. ? Merit Pay as an Incentive Merit pay or a merit raise is any salary increase the firm awards to an individual employee based on his or her individual performance. ? Profit Sharing Plans Profit sharing plan is a plan whereby employees share in the company’s profits. There are several types of profit sharing plans: ? In cash plans In cash plans, the firm simply distributes a percentage of profit as profit shares to employees. ? Deferred profit sharing plans The firm places a predetermined portion of profit in each employee’s account under a trustee’s supervision. ? Employee Stock Ownership Plans (ESOP) ESOPs are company wide plans in which a corporation contributes shares of its own stock or cash to be used to purchase such stock of the firm’s stock tor employees. Chapter 8 Employee Relationship 8. 1 The Meaning of Ethics Ethics refers to â€Å"the principles of conduct governing an individual or a group† and specifically to the standards individual use to decide what he/she conduct should be. 8. 2 Organizational culture Organizational culture is the characteristic values, traditions and behaviors a company’s employees share. A value is a basic belief about what is right or wrong, or about what should or should not do. 8. 3 Employee Discipline and Privacy The purpose of discipline is to encourage employees to behave sensibly at work (where sensible is defined as adhering to rules and regulations). In an organization, rules and regulations serve about the same purpose that laws do in society; discipline is called for when one of these rules or regulations are violated. A fair and just discipline process is based on three prerequisite: rules and regulations, a system of progressive penalties and an appeals process. The four main types of employee privacy violations upheld by courts are intrusion, publication of private matters and disclosure of medical records and appropriation of an employee’s name or likeness for commercial purposes. 8. 4 Types of Disciplinary Actions ? Minor Penalties ? Reprimand / censure; Withholding for a specified period or stoppage of increment, confirmation or promotion; ? Stoppage for a specified period at an efficiency bar in the time scale; ? Any other minor punishment. ? Major Penalties ? Recovery fr om salary of the whole or part of any pecuniary loss caused to the band by the employee; ? Degradation to any lower post; ? Compulsory retirement from service with or without retirement benefits; ? Removal from service; ? Dismissal from service. 8. 5 Disciplinary Proceeding ? Before imposing any penalty as above, the employee concerned shall be informed in writing about the charges and also be given an opportunity to answer to the charges in writing. An inquiry into charges may be held before taking final action in this regard and the competent authority may appoint an inquiry officer senior in rank to the accused to inquire into the charges and to submit his findings before passing final order in the case. ? An employee, against whom disciplinary action is proposed to be taken, may be placed under suspension, or the competent authority may order him to proceed on leave. ? The period of suspension will not exceed 90 days. If an employee, put under suspension, is not found guilty, he shall be entitled to full salary for the period of his suspension. ? If an employee put under suspension, is awarded any penalty in case of compulsory retirement or dismissal from service, the effect shall be from the date of suspension and in the case of any other penalty, the effect shall be from the date of passing of the order by the competent authority. An employee who has been awarded any penalty shall have a right to appeal to the competent authority within 30 days (or any period determined by the authority) from the date of the order. 8. 6 Disciplinary Appeals Processes The disciplinary appeal process consists of following three steps: Steps 1: Management review In step 1, the complainants submit a written complaint to a member of management (e. g. manager, senior manager or managing director) within seven calendar days of the occurrence of the eligible issue. Steps 2: Officer Complaint If not satisfied with that decision in step 1, then in step 2, the complainant submits a written appeal to the vice president or senior vice president of the division within seven calendar days of the step 1 decision. Step 3 Executive appeal Review Finally in step 3, the complainant may submit a written complaint within seven calendar days of the step-2 decision to the employee relations department. This department then investigates and prepares case file for the executive review appeals board. 8. 7 Disciplines without Punishment No one likes being punished. The basic aim of discipline without punishment is to gain an employee’s acceptance of the rules by reducing the punitive nature of the discipline itself. 8. 8 Managing Dismissals Dismissal is the involuntary termination of an employee’s employment with the firm. Dismissal is the most drastic disciplinary step the manager can take. Because of this, special care is required to ensure that sufficient cause exists for it. Managing dismissals is an important part of any supervisor’s job. The best way to handle a dismissal is to avoid it in the first place. Many dismissals start with bad hiring decisions. Using sound selection practices including assessment tests, reference and background checks, drug testing and clearly defined job descriptions can reduce the need for many dismissals. 8. 9 Grounds for Dismissal There are four bases of dismissal – 1. Unsatisfactory Performance Unsatisfactory performance may be defined as persistent failure to perform assigned duties or to meet prescribed standards on the job. Specific reasons include excessive absenteeism, tardiness, and adverse attitude toward the company, supervisor or fellow employees. 2. Misconduct Misconduct is deliberate and willful violation of the employer’s rules and may include stealing, rowdy behavior and insubordination. 3. Lack of Qualification for the Job Lack of qualification for the job is an employee’s inability to do the assigned work although he/she is diligent. 4. Insubordination Insubordination, a form of misconduct, is sometimes grounds for dismissal. It should remember that some acts are or should be deemed insubordinate whe