Group Communication free essay sample

Guerrilla marketing and advertising Dissertation

Guerrilla promoting and publicizing - Dissertation Example erception of GM 4.2.3 Impact of GM on Consumers’ Intention to buy 4.3.4 Impact of GM on Consumers’ Purchase Behavior 4.3 Findings from the Interview of the Advertising Experts 4.3.1 Reasons for Using GM systems 4.3.2 Some Examples of Successful GM Strategies 4.3.3 Success of GM for various kinds of Products 4.3.4 Strategies and Tactics that for Viral Marketing 4.3.5 Challenges of Using GM/VM 4.3.6 Advantages of Using GM/VM 4.3.7 Future Role and Trend for GM Chapter 5: Conclusions and Recommendations 5.1 Summary of Research Findings and Conclusions 5.2 Research Limitations and Scope for Future Research. Rundown of Tables and Figures Table 1: Reasons for Using GM methodologies Figure A: Diagrammatic Representation of the Research Methodology Figure 1: Customers’ Awareness of GM Figure 2: Consumers’ Perception of GM as Aggressive Figure 3: Consumers’ Perception of GM as Aggressive Figure 4: Consumers’ Perception of GM as Creating Insights about Their Needs Figure 5: Consumers’ Perception of GM as Creating Awareness about New Products Figure 6: GM as Creating Awareness of Non-Advertised Products Figure 7: GM as making more decisions for clients Figure 8: Impact of GM on Consumers’ Intention to buy Figure 9: Impact of GM on Consumers’ Purchase Behavior List of Appendices Appendix A: Survey Research Questionnaire Appendix B: Interview Research Questionnaire References Chapter 1: Introduction 1.1 Research Background and Overview While a lot of writing exists on the different focal points of Guerrilla showcasing and furthermore on the procedures and strategies identified with this kind of promoting, there has been little research on checking the effect it has. Associations enjoy viral promoting methodologies with the target of making mindfulness for... This exposition Guerrilla showcasing and promoting plots and investigates the impact of the GM and its discernment by the clients and the issues and openings that publicists have with GM methodologies. Guerilla showcasing It is non-customary as it doesn't keep itself to the standard media or channels of promoting and it utilizes content techniques that might be progressively imaginative or even unusual. Guerrilla promoting, as it name shows, to a great extent draws matches from the Guerrilla fighting procedures. On account of Guerrilla fighting, the methods for war are not clear and individuals don't battle by rules of ordinary fighting. The component of shock is utilized vigorously to lead short yet exceptionally powerful assaults on the adversaries. Similarly, Guerrilla showcasing follows the idea of shock and taking the client unguarded, and anticipating the promoted substance or message in a focused on way when the client least anticipates it or is least arranged to take oneself against the effect (Tufel, 2004). The rationale behind utilizing the unexpected component is that most clients being presented to innumerous publicizing messages during their time †through TV, the Internet, announcements, papers, leaflets, in shop purpose of procurement shows and so forth †are for the most part ready to safe themselves against these messages (Susca et al, 2008). There is a lot of messiness of publicizing messages and clients can block themselves good and gone when tormented by an enormous measure of data that encroaches on their faculties.

Dealing With a Spouse Who Works Too Much

Dealing With a Spouse Who Works Too Much Relationships Spouses & Partners Print Strategies for Dealing With a Workaholic Spouse By Sheri Stritof Sheri Stritof has written about marriage and relationships for 20 years. Shes the co-author of The Everything Great Marriage Book. Learn about our editorial policy Sheri Stritof Medically reviewed by Medically reviewed by Carly Snyder, MD on February 01, 2020 facebook twitter linkedin Carly Snyder, MD is a reproductive and perinatal psychiatrist who combines traditional psychiatry with integrative medicine-based treatments.   Learn about our Medical Review Board Carly Snyder, MD on February 01, 2020 Tetra Images / Getty Images More in Relationships Spouses & Partners Marital Problems LGBTQ Violence and Abuse If you are married to a workaholic, you may feel as if you are married to an unfaithful spouse whos replaced your intimacy with his or her work. The sense of being alone, the number of broken promises, feelings of anger and disappointment, and a belief that you are not very important are all similar for spouses of cheaters and for spouses of workaholics. These issues, if left unmitigated, may result in spousal discontent or worse yet divorce; in fact, according to Maureen Farrel who penned So You Married A Workaholic for Forbes in 2007, on average, couples in which one partner is a workaholic divorce at twice the average rate.?? When one partner works excessively, he or she is not  nurturing the marriage. It is also unhealthy to maintain a life that is so out of balance,  which can easily put you on the road to infidelity or divorce. Sometimes it takes a wake-up call such as a personal or health crisis for the workaholic  to snap out of this behavior. There are things you can do that wont have you waiting around for this to be the impetus for the change.     Tips for Keeping Your Marriage to a Workaholic Healthy If you find yourself frustrated with your spouses constant obsession with work, its important to remember that even though you dont agree with his or her viewpoint on the issue, the situation itself puts you and your partner both under intense amounts of stress; as a result, conversations about being a workaholic should be approached cautiously and with compassion. As frustrating as it may be to not scold your spouse for his or her overworking tendencies,  nagging wont work. Instead, share in a positive tone what your spouse has missed by working late or by bringing work home and not being present to you and your children. Additionally, you should try to stop enabling your spouses workaholic behaviorâ€"you may be enabling your spouses need or desire to work by delaying family meals, keeping kids up longer, postponing activities, or spending your money on items and services (like takeout) that you could do without. Instead, consider letting your spouse experience the consequences of working too much by serving dinner at the normal time and making your spouse eat the cold leftovers once he or she finally emerges, hours later, from work. If your spouse doesnt want to go out of the house with you, leave your spouse at home and take the kids to the movie, or if your spouse is too busy to take a few days off, take a weekend trip to visit family without your spouseâ€"dont put your life or your childrens lives on hold waiting for your spouse to make time for you. Alternatively, you could try to entice your spouse out of work mode by suggesting an activity that you could both do together. Although this may be considered a bit manipulative, providing an opportunity that your spouse will enjoy could ease the tensions between you and allow for an honest discussion of the problems that are arising from your spouses workaholic tendencies. When to Seek Professional Help Solving your marital issues related to a workaholic spouse can feel like an insurmountable task, and oftentimes it is almost impossible to do alone. Fortunately, though, psychologists and marriage counselors are available to help mediate open dialogue between you and your significant other. If your marriage is in serious trouble due to your spouse working too many hours, then  marriage counseling  could be an option that will help. Even if you can simply get your spouse in for the initial therapy session, you may be able to help him or her to understand the gravity of the problem and the toll its having on you and your relationship personally. Its important during these sessions to discuss setting boundaries you both agree to that will not only help your spouse overcome his or her workaholic behavior but help you both communicate with one another openly and with compassion and empathy. If your spouse agrees to a day with you or even a few hours, setting boundaries like no cell phones at dinner could significantly reduce work-related stress during your alone time. In any case, the first step toward overcoming marital issues related to living with a workaholic spouse is to start a conversation, express how the behavior makes you feel, and work together toward an amicable compromise that leaves you feeling more appreciated and your spouses need to work fulfilled.

Gender Inequality In Law School Case Study - 1933 Words

In this paper, I focus on women’s experiences in law school and law firms, and how these two institutions impact the role of gender within the professional partner track. I examine whether this disparity in the legal profession is just a reflection of society’s views on gender or if this disparity is caused by the structure of law school classes or law firms and what could aide this inequality. As a female student with an interest in becoming a lawyer it is important to address and fix the strong gender inequality within the legal profession. In order to analyze this topic, I related the experiences of a female partner to research on the ranking of law schools, the hemisphere of law firms, and discrimination within these two areas. With†¦show more content†¦Like subsections of the conservative right in Southworth’s books, Lawyer X agrees that the role of lawyers should be to serve their client’s needs and supports the idea the lawyers are supposed to fight and stick up for their clients in ways that their clients cannot stick up for themselves within the world of law. Although family law is gendered, I wanted to analyze how deeply gendered the legal profession is and whether the law school attended or law firm practice plays a role in this disparity. To do this I will apply Lawyer X’s experiences to research on women in the legal profession, women owned law firms and discrimination within these two areas. Studies like Sterling and Reichman’s (2016) show us that women are significantly underrepresented in partnership and ownership within the legal profession (Sterling Reichman, 2016). The growth of women owned law firms will hopefully aid the disproportion of the genders wi thin the legal profession. Lawyer X hopes that the formation of women owned law firms will in fact be a trend, instead of an aberration, because it is important for women to be represented in the legal profession† (Lawyer X, 24 May 2017). This growth of female owned law firms has even seeped into the corporate hemisphere, with firms like Brune Richard within New YorkShow MoreRelatedThe Gender Discrimination And Inequality Essay1611 Words   |  7 PagesAim To illustrate the gender discrimination and inequality issues at work and in leadership, consider the reaction to solve these questions. 1.2 Parameters This report discusses some key issues that occur at work and in the leadership of gender discrimination and inequality and current their improved programs in Australia and the United States. It illustrates background context, analysis and future direct, as well, there is 2000 words limit. 1.3 Definitions Gender discrimination is a situationRead MoreGender Inequality Essay1153 Words   |  5 Pagesresearchers, we get to know more and more on the issue of gender inequality in different areas of our society. However, although significant progress has been made during the twentieth century, in an attempt to equalize the rights of women and men, they still do not seem to be met daily. Having a job is considered important for men and women, although the centrality of work is organized completely differently by gender. This form of inequality persists in all areas such as: participation in decisionRead MoreWomen ´s Right Movement: Gender Inequality1424 Words   |  6 PagesProgram when they were asked about the issue of gender inequality, which was featured in the Chicago Tribune News. Fifty years earlier, the United Nations General Assembly adopted the Universal Declaration of Human Rights, which specified that everyone, regardless of gender, was entitled to the same rights and freed oms (The Universal Declaration of Human Rights). Fifty years later though, countries are still falling short of achieving the goal of gender equality. Many find it hard to believe that theRead MoreSexual Identity And Gender Roles Essay1398 Words   |  6 Pagesin nature and intensity of how the sexes, gender, gender roles and gender stereotypes are differentiated. Before we get to understand how they are differentiated, it s good to first understand the meaning of each term. Sex is the biological and physiological differences between men and women, sex roles are the behaviours and patterns of activities that the men and women may engage in which are directly related to their biological differences while gender are the behaviours or patterns of activitiesRead MoreGender Inequality And Gender Equality1673 Words   |  7 Pages Gender inequality Women are one-half of the world population they deserve equal opportunity as men because at the end gender equality is part of humanity progress. Many women around the world are treated less favoured than men not only in countries that have traditional gender role but even in societies that believe in equal right for both male and female. Gender inequality means unequal treatment or perceptions of individuals based on their gender. It results from differences in socially constructedRead MoreCrime and Social Inequality1194 Words   |  5 Pages Crime and criminalization are dependent on social inequality Social inequality there are four major forms of inequality, class gender race and age, all of which influence crime. In looking at social classes and relationship to crime, studies have shown that citizens of the lower class are more likely to commit crimes of property and violence than upper-class citizens: who generally commit political and economic crimes. In 2007 the National Cr ime Victimization Survey showed that families with anRead MoreIntroduction. Women In The Legal Profession Today Do Not1505 Words   |  7 Pageschallenges that they were facing 50 years ago. However, gender-based issues still exist that females in the legal profession have to face in today’s world. According to the American Bar Association’s Market Research Department women comprised only 36 percent of legal professionals in the country in April 2016 (Smithey, 2017). The number of women in the legal profession has been growing in last few decades, but even though it grows in private law firms as well as the judiciary, unfortunately women doRead MoreGender Inequality1675 Words   |  7 PagesGender Inequality The issue of gender inequality is one which has been publicly reverberating through society for decades. The problem of inequality in employment being one of the most pressing issues today. In order to examine this situation one must try to get to the root of the problem and must understand the sociological factors that cause women to have a much more difficult time getting the same benefits, wages, and job opportunities as their male counterparts. The society in which we liveRead More Is There Political Will in Egypt to Promote Gender Equality?1481 Words   |  6 Pages Although gender inequality is experienced by women in many parts of the world, it is quite excessive in the Arab world. In this essay I will be using Egypt as a case study. Cultural and traditional norms play a huge role in the oppression of women when it comes to illeteracy, female circumsision, and domestic violence. Everyday less fortunate innocent girls are born into a society where the above is accepted by most of the society and is percieved as a norm. Religion is a very contraditing topicRead MoreTaking a Look at Gender Inequality1182 Words   |  5 PagesGender inequality has become one of the oldest issues throughout society. Gender inequality can be described as unequal treatment or specific perceptions based on an individual’s gender. In most cases, it has developed over time with the socially constructed gender roles the society portrays. It was said â€Å"Nearly one-third of women said they feel discriminated against or treated unfairly based on their gender at least once a week. Opportunities are wasted if stereotypes and biases evaluate people

Organizational Management Approach Analysis Organization

Running head: ORGANIZATIONAL MANAGEMENT APPROACH ANALYSIS 1 Organization Management Approach Analysis Shweta Hallen ORG 502 – Effective Organization: Theory and Practice Colorado State University – Global Campus Dr. Claudia Santin December 01, 2015 ORGANIZATIONAL MANAGEMENT APPROACH ANALYSIS 2 Organizational Management Approach Analysis The following analysis examines the organizational approach to management that I work for. Since many of the approaches to management are based on historical approaches to management, this article will analyze the differences and similarities between this approach and the historical ones. In addition, I will also talk about the efficiencies and inefficiencies of the approach contemplating on its impact on†¦show more content†¦Taylor (as cited in Robbins, Cenzo Coulter, 2015) sought to improve production efficiency approach to get things done. Management Approach Analysis The analysis revealed that the organization I work for follows a Decentralized management approach, with the following principles: 1. Empowering employees: The principle aims at giving more autonomy to employees to make their own decisions, giving them a sense of importance and making them feel as if they have more input in the direction of the organization. ORGANIZATIONAL MANAGEMENT APPROACH ANALYSIS 3 2. Efficiency: The aim here is the reduction of congestion in communications, quicker reaction to unanticipated problems, improved ability to deliver services, improved information about local conditions, and more support from beneficiaries of programs. 3. Diversity: It is critical for organization’s ability to innovate and adapt in a fast-changing environment. It is essential to growth and prosperity of any company: diversity of perspectives, experiences, cultures, genders, and age. 4. Global Reach/Local Focus: This one focusses on operating in a global footprint yet react more easily to the specific needs of the area, such as deciding to sell products that appeal to the local market. The above principles have been applied in the organization’s policies and tools have been developed to record the evidences and measure how it is progressing. Rousseau (as cited in Pryor et al., 2011)

The Dividend Policy Test Free Essays

Q1. There are following assumptions to be used for Modigliani and Miller’s dividend irrelevancy theory. Which are the correct assumptions? (MRQ) There are no tax preferences Transaction cost is insignificant Directors convey all information to shareholders No inflation (2 marks) Q2. We will write a custom essay sample on The Dividend Policy Test or any similar topic only for you Order Now Select the appropriate option for the given statements relevant to irrelevancy theory. (HA) All shareholders want their wealth to increase TRUE FALSE As dividends are paid share price increases TRUE FALSE (2 marks) Q3. The process of manufacturing dividends in the dividend irrelevance theory refers to? (MCQ) Dividends received from a manufacturing company Sale of shares by the investors to earn dividends Plans set to earn a continuous return Creative accounting to pay a dividend (2 marks) Q4. The ‘dividends as residuals’ view of dividend policy are best described as (MCQ) Dividends are paid if the company generates profits greater than the prior year (The difference is residual) The profits made by the division of the company in a particular city should be paid to shareholders of the same city Dividends should amount to the entire annual profit less the amount paid in manager incentive schemes Dividends should only be paid out of cash flow after the company has financed all its positive NPV project (2 marks) Q5. In which situation does a residual dividend policy is likely to be applicable? (MCQ) A public listed company In a market norm where taxes on dividends are lower A small listed company seeking maximum capital growth for shareholders An unlisted family business where earnings are based on dividend income (2 marks) Q6. The companies have following payment history: 2015 2016 2017 Tuna Co (Dividend) 400 410 421 Tuna Co (Earnings) 800 800 801 Sauna Co (Dividend) 20 80 10 Sauna Co (Earnings) 40 160 20 Mona Co (Dividend) 0 100 0 Mona Co (Earnings) 200 150 300 The dividend policy for each company is? (HA) Tuna Co CONSTANT GROWTH CONSTANT PAY-OUT RESIDUAL Sauna Co CONSTANT GROWTH CONSTANT PAY-OUT RESIDUAL Mona Co CONSTANT GROWTH CONSTANT PAY-OUT RESIDUAL (2 marks) Q7. Juju Co. director has given the following statement at the annual general meeting â€Å"In my childhood, I got a rise in my half-yearly allowance from my father and I expected it to continue in the future. The shareholders expect the same to have a rise in their dividends†. Which of the following supports the statement of the director? (MCQ) Dividend irrelevancy theory Dividend dependency theory Director is concerned about the company liquidity Director indicates a signaling effect on dividends (2 marks) Q8. Which of the following given below relate to Dividend relevance theory keeping in mind having an imperfect capital market? (MRQ) Taxes applicable on dividends ; capital gains are different Shareholders have not disclosed all information received to the directors No transaction cost is applicable Shareholders would like a stable or growing dividend policy (2 marks) Q9. Which of the following factor affect the shareholder in setting its dividend policy? (MCQ) The local laws ; regulations given by the government The repayment of new debt finance in 10 years The deflation effect The demand for customers products (2 marks) Q10. A scrip dividend is a: A dividend paid at a fixed rate on the face value of the shares A dividend paid at a fixed percentage rate on the market value of the shares on the date that the dividend is announced A dividend payment that converts in a form of new shares instead of cash A cash dividend that is variable and is decided upon by the directors and approved by the shareholders (2 marks) Q11. Select appropriate option in relation to scrip dividends. (HA) It can save the company’s cash if a number share options are taken up by the shareholders ADVANTAGE DISADVANTAGE Scrip dividends may trigger a negative signaling effect ADVANTAGE DISADVANTAGE (2 marks) Q12. Which of the following is a drawback of a share repurchase scheme? (MCQ) Increase in earnings per share Increase in gearing The possibility of a takeover is reduced Some shareholders may suffer tax on capital gain after the purchase of shares (2 marks) DIVIDEND POLICY (ANSWERS) Q1. There are no tax preferences (Assumption) Transaction cost is insignificant (Assumption) Directors convey all information to shareholders (Assumption) No inflation, MM theory does not state anything about the existence or otherwise of inflation Q2. All shareholders want their wealth to increase TRUE As dividends are paid share price increases FALSE All the shareholders are concerned about their wealth increment whether by capital gains or by the dividend. The share price decreases as dividends are paid because if there will be no retain earnings left by the company new equity will have to be raised resulting decrease in share prices. Q3. B Q4. D The residual theory states that if a company can identify positive NPV projects it should invest in them. Only when these investment opportunities are exhausted should dividends be paid Q5. C Residual income will not give a reliable income is geared to financing investments that provide capital gains. Q6. Tuna Co CONSTANT GROWTH Sauna Co CONSTANT PAY-OUT Mona Co RESIDUAL Tuna Co dividends grow at 10% per annum. Sauna Co pays a 50% of its earnings as dividends Mona Co dividends are not connected with earnings so their policy is residual Q7. D Q8. All others are correct except for No transaction cost Taxes applicable on dividends capital gains are different Shareholders have not disclosed all information received to the directors No transaction cost is applicable (Applicable only if there is a perfect capital market) Shareholders would like a stable or growing dividend policy Q9. A The local laws regulations given by the government The repayment of new debt finance in 10 years. The repayment of previous debt should be considered rather than the new debt finance. The deflation effect. The consideration should be of inflation effect rather than deflation as deflation is a benefit The demand for customer products. Dividends are given to shareholders rather than to customers. Q10. C A dividend paid at a fixed rate on the face value of the shares would most commonly be a preference dividend. A cash dividend that is variable and is decided by the directors and approved by the shareholders is a definition of a normal dividend. Q11. It can save the company’s cash if a number share options are taken up by the shareholders ADVANTAGE Scrip dividends may trigger a negative signaling effect DISADVANTAGE Q12. D Increase in earnings per share, through a reduction in the number of shares in issue.(Advantage) Increase in gearing, Repurchase of a company’s own shares allows debt to be substituted for equity, so raising gearing. (Advantage) The possibility of a takeover reduced, Share repurchase might prevent take over as this can enable the company to withdraw from the market. (Advantage)   Some shareholders may suffer tax on capital gain after the purchase of shares (Disadvantage) How to cite The Dividend Policy Test, Papers

Zara It Analysis free essay sample

How would you advise Salgado to proceed on the issue of upgrading Zara’s POS systems? 3 -Should the company upgrade the POS terminals to modern operating system? 3 -Should the company build in-store networks? 4 -Should the company give employees the ability to look up inventory balances for items in their own stores? 4 -Should the company give employees the ability to look up inventory balances for items in their other stores? 4 What is the Zara â€Å"business model†? How is it different from the business model of other large clothing retailers? What weaknesses, if any, do you see within this business model? Is it scalable? 4 In your opinion, what are the most important aspects of Zara’s approach to information technology? Are these approaches applicable and appropriate anywhere? 6 References7 Brief Summary of Zara Zara is a fashion brand that was founded in 1975 by Amancio Ortega, who believed that retailing and manufacturing must be closely linked to provide a speedy response to consumers’ demands. We will write a custom essay sample on Zara It Analysis or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Unlike other fashion chains, Zara did not invest extensively with advertising and marketing to generate sales, instead, they set up their stores in prime locations. Zara’s selling strategy relies on fast turnover of their merchandise, aiming primarily at seasonal fashions. Their decentralised approach in decision making, allows store managers to make decisions on which items should be on sale, and which items should be replenished based on their experiences and feedback with local customers. The commercial team also observed local trends and communicated with store managers as to which line of clothing would sell, and so transferred those items to other stores where they would sell well. Zara did not try to produce clothes in the high end market. Their clothing had a short life span and was not extremely durable. They aimed at the speedy supply of top fashion trends, while continuously creating new items, including new designs or altering the design of existing clothes. Because of their rapid turnover in garments, Zara shoppers knew that they would have to purchase the clothes when they first came on sale, or take the risk of missing out. In terms of its operation, Zara established a three step approach: ordering fulfilment, design and manufacturing. Store orders included re-stocking of existing items and requests for new garments. Each store uses its handheld devices to order by walking around the store and â€Å"beaming† the garments. Headquarters were able to communicate with store managers, utilising the device for availability and lists of new garments. In terms of order fulfilment, Zara’s commercial team matched the aggregated orders which were requested from all of the stores (demand) and the inventory levels (supply) in the SKU at the same period. If the supply and demand were met, shipments would be fulfilled. If not, the commercial managers needed to make a decision on the quantities of store allocation, based on the history of sales patterns. In terms of design and manufacturing, Zara used vertically integrated manufacturing operations to allow it to introduce new items constantly. Its own network of production facilities and workshops enabled speedy production turnaround time, thus enhancing the capability for Zaras ever ready response to the constantly changing fashion tastes of its customers. The network provides flexibility of production, thus allowing Zara’s commercials to simply make estimation as to how well the garments would sell. Stores orders indicate the level of production needed, therefore the company did not have to rely on sales forecasts. (Mcaffe, Dessain, Sjoman, 2007). How would you advise Salgado to proceed on the issue of upgrading Zara’s POS systems? I would advise that Salgado should initiate an IT project, upgrading POS systems as well as the hardware to support it. Also an upgrade of its internet capabilities, because without the speed of the internet, data will not be transmitted quickly enough. With an IT technology upgrade, manual intervention would be eliminated, thus promoting operational efficiency (Moore, 2009). * Should the company upgrade the POS terminals to modern operating system? Yes, the POS terminals were out-dated and were being backed by DOS operating system which Microsoft no longer supported. They are running a risk of the product becoming obsolete and being unable to maintain support from vendors. Up-to-date operating system would provide more user friendly mechanisms, more functionality, thus allowing effective communication between stores and headquarters. New modern operating systems would allow simple standardisation and sharing of data across the board. Modern operating systems also provide more security platforms (such as credit card details), inventory management, and report generation for decision making. Also it allows real time transactions to be recorded. * Should the company build in-store networks? Yes, the company is missing out on communication and information sharing within the store network system. The in-store network allows connectivity and provides daily sales totals, also ordering in â€Å"real time â€Å"processing. It allows POS terminals to talk to one another and allows viewing of up-to-date data at any time. * Should the company give employees the ability to look up inventory balances for items in their own stores? Absolutely, as it will save time during the ordering process. Also by knowledge of the inventory level enabling the stores personnel to carefully plan the ordering of each item. Store managers will also be able to utilise the system to see inventory balances and make decisions on ordering. * Should the company give employees the ability to look up inventory balances for items in their other stores? Yes, not only will it allow inter-store transfers, but also provide better customer services, and to let the customers know from which store the items will be available. It not only retains the sales within Zara, but also the customers in the long term. Happy customers will always return. What is the Zara â€Å"business model†? How is it different from the business model of other large clothing retailers? What weaknesses, if any, do you see within this business model? Is it scalable? Zara operated on a Vertical Operations Business Model, controlling every level of value chain: factories, workshops, processing, and distributions centre. It carried out virtually no advertising, relying heavily on store images. Zara was very brand centric. Its website only as showed a few garments at any time. Also it did not have internet shopping facilities as current DC did not cater for shipping small orders and handling returns of garments. Mcaffe, Dessain, Sjoman, 2007). In addition to its own fashion launch twice a year, Zara constantly created new garments and the quantities needed were practically driven by customer demand. This approach would not be achievable without the support of back end manufacturing process and distribution facilities. Both Zara and other larger retailers shared a similar mission: that is a spe edy reaction to alter changes in tastes or customer demands, however their business models are a contrast, (e. g. Hamp;M), and others relied heavily on advertising and outsourcing its production. They instead carried out their forecast for sales and marketing achievements, also installed a more robust website on which they were able to provide more functionality such as garment launch, customer loyalty programs, online ordering and customer feedback (Pahi, 2008). The weakness of this model could be that Zara did not run an efficient scale of economies as they produced a too varied a range of garments in a small quantities. Also it did not utilise the website well to communicate with customers and promote its products. Probably not so back in 2007, however, in hindsight, internet shopping has proven an epic shake up. The spending patterns have changed and consumers prefer to have instant access to style and fashion advice as provided on the website. Because of its current distribution infrastructure, Zara could not handle internet shopping, and would need to look at its current IT infrastructure to enable the changes to keep up with the shift in the fashion paradigm. (The business of fashion,2013) The business model could be scalable by upgrading IT technology to be more compatible, also to suit current consumers need while providing a speedier / real time response allowing a more competitive edge amongst its competitors (World Press, 2012). In your opinion, what are the most important aspects of Zara’s approach to information technology? Are these approaches applicable and appropriate anywhere? Zara’s approach to information technology was very light. It obviously did not utilise leverage of its IT technology to reach their business requirements, or to maximise their efficiencies. They could hardly call themself an IT savvy firm. The senior management had affinity for IT and were not strategically committed to its use. Minimal investment was placed on information technology, but instead they invested heavily on the back end processing. Their IT department wrote most of its applications and all of their IT support was carried out in a central location. Current DOS-based systems to support POS would be a risky in the near future as it may not be compatible to technological changes and revised improvements. Throughout the value chain, the most utilised automation was the DC. From ordering to ordering fulfilment, stores used the dial up modem for business connectivity and information sharing. There were no standardised interfacing to interact all of the applications, e. . stores sales patterns and inventory levels should be linked to the head quarter’s inventory management system thus leading to ordering proposals and transfer of goods. The order quantities could then be decided based on garment availability. Plant production could also make use of the information to run optimal production in a short period of time. Lack of these IT platforms not only provided incorrect data, but also delaying the decision makin g process.

HR Practices in Pakistan and UK The WritePass Journal

HR Practices in Pakistan and UK CHAPTER 1 HR Practices in Pakistan and UK CHAPTER 1INTRODUCTION1.1 INTRODUCTION:1.2 Realistic Background:1.3 Research Aim and Objectives:1.3.1 Research Aim:1.3.2 Research Objectives:1.4 Organisation of Work:INTRODUCTION1.4.1 Literature Review1.4.2 Research Methodology1.4.3Findings and Results1.4.4 Conclusion1.4.5 Reflection1.6.6 ReferencesCHAPTER 22.1 Preface:2.2 Integrative structure of planned Global Individual Source Organization (GISO):2.3 Hierarchy of Human Resource themes (what is GISO and how it works):2.4 Global Individual Source Organization (GISO)2.4.1 Definition of Global Individual Source Organization (GISO):2.5 Obtainable Global Individual Source Organization (GISO) Replicas2.6 Global Individual Source Organization (GISO) Courses policies2.7 Nationwide, Educational as well as lawful dissimilarities among United Kingdom Pakistan:Chart 2.7.1: Essential details concerning United Kingdom Pakistan2.7.2 Relative Structure Sensible: Chart 2.7.2: Structure Functional for relative learning of United Kingdom Pakistan2 .8 Employment Association (United Kingdom Asia): 2.9 Ability Configuration:2.10 Recompense schemes: 2.11 Service Safety: 2.12 Importance of Training in an organisation:2.13 Human Resource Practices in UK and Pakistan:2.13.1 HR Practices in Pakistan:2.13.2 HR Practices in UK:Related The importance of recruitment and selection practices also known as Human Resource Management (HRM) could not be taken lightly. All national and multinational organisations rely on its most important resource – the people working in it to carry out its goals and visions. Organisations do not work without the people. The Human Resource therefore takes care of a very essential component of the organisation. Thus, it deserves to be given due consideration and importance. The proposed research will be focused upon to investigate the comparison of HR practices in Pakistan and UK multinational organisations. In the recent past so many research findings have been produced about the implementation of HR practices in Pakistan but it is evident that HR practices are not fully implemented and what are the main causes and factors due to which these practices are not implemented. On the other hand the HR practices in developed countries like United Kingdom play important in the success of the multinational organisations. Thus along with comparison this study will also reveal the effect of HRM practices in developed countries like United Kingdom and under developed countries like Pakistan. CHAPTER 1 INTRODUCTION 1.1 INTRODUCTION: This chapter summarizes a brief overview of the entire dissertation. In this context, this chapter presents a brief introduction of the identified objectives. Background section of this chapter details research conducted to conclude main area of research. Some others topics include literature review, methodology, findings and results. Rest of this chapter has been organized as follows. In section 1, we present aims and objectives of our research study. Section 2 presents background study and research challenges are covered in section 3. At last in section 4 we present organization of this dissertation. International projects that are increasing their actions universally are uncovered to increase knowledge in the variety of ways according to their situation. They are familiar with choosing problem among an internationally consistent strategy a nearby adaptive strategy in their global individual source strategies. Asia is the best rising district on the earth (Economist 2003, 2005; Fortune 2004) plus is motionless under-researched evaluated to Europe as well as the United States. The financial systems of the nations underneath learning are frequently grouped jointly as being underpinned by Asian principles although restricted traditions, organizations, as well as work powers vary in every of the chosen states. Known the local variation in financial expansion, the assortment of state permits examination of move together to higher financial systems such as Singapore as well as less-developed financial systems such as Thailand plus Indonesia. The instant region of attention of this learning is the relocate of Human Resource strategies and their performance in United Kingdom headquarters (HQ) and supplementary in Pakistan. To know about how they use their HR practices and HR department to motivate their employees so that their performance should be at their best just like the HQ employees who has been working in a developed country. To know about the contrast of these employees the researchers is working on these variables, Motivation, Training and hiring of the employees. After studying Japanese organizations western writers and parishioners have found that workforce management (utilization) is one of the main reasons of their success. This has a great influence on the writers, parishioners and the researchers to consider proper use of workforce in western organizations. Later on this style was termed as ‘Human Resource Management’ or HRM. At present, many organizations has functional personnel department known as Human Resource (HR) with the basic aim of managing their employees in an efficient manner. 1.2 Realistic Background: At the same time as those kinds of keys are essential as well as sufficient to accomplish several of the managerial Human Resource jobs, the excellence of recompense, expansion plus guidance procedure to name immediately a little are not optimized with the similar severity in each state as those relating to the manufactured goods plus services that the own MNEs proffer. This require for the Human Resource purpose to competition the excellence of the manufactured goods as well as service commerce has lead to a rising attention of the MNEs’ headquarters in global Human Resource. People working individually or collectively for the organisation are the essential and most valued elements of human resource management. HRM is considered as a strategic and detailed approach for the management of the organisation. ‘Personnel’ management term was used before the concept of HRM. According to Grant and Oswick (1996) of practitioners views on HRM said â€Å"There is and always was a gradual evolution of personnel management. I see HRM as just the latest stage of this evolution.† In Pakistan the HRM process is in developing or infancy stage. In Pakistan and other under developed countries the HRM practices are not fully implemented. According to Beer et al, Human Resource Management affects the relationship between organisations and employees with the decision making. According to Pettigrew and Whip (1991) HRM is a total set of knowledge, skills and attitude that a firm need to compete. It includes matters like hiring, firing and training and actions concerning people such as employee relations, compensations and development. Such actions and matters can be brought up together through the creation of human resource management philosophy. HRM is the reflection of policies and objectives set by the management. These policies and objectives closely related and interlinked to each other. To obtain the objective of the organisation HRM function of planning pertains to arriving at an efficient process. It helps the company to achieve its goals. Organisation gathers and coordinates the resources needed to implement the plan. Human resource management organize the company structure form the relationships and allocate th e resources to attain the objectives. Directing refers to the human resource management function that leads and supervises employees to attain the company objectives. Finally, controlling is confirming if the plan is carried out in actual situation. 1.3 Research Aim and Objectives: 1.3.1 Research Aim: According to previous studies and researches the researchers have done allot of hard work on the specific field of HRM but this research only comprise the developed countries where human resource management plays an important role in the development of multinational organisations. However less consideration has been given and not too much research has been done with context to under developed countries like Pakistan. Mostly the comparison revealed from past journals, books and magazines has shown that either one country has been thoroughly researched or two developed or under developed countries are compared. But this research tends to draw attentions towards the adaption of human resource management techniques and their behaviour in multinational organisations of both developed country like United Kingdom where HR practices are fully implemented and under developed country like Pakistan where HRM techniques are not used on same footings as of developed country and their results. 1.3.2 Research Objectives: To investigate about the status and nature of HR practices with respect to both countries. To conduct studies pertaining to human resources of both countries. To understand the influence of cultural, social, economic, political and business environment on HR practices with respect to Pakistan and UK. To suggest improvements to current HR standards imposed in Pakistan and UK. To suggest suitable model of HR. To give recommendation for successful implementation of HRM model. 1.4 Organisation of Work: INTRODUCTION All possible steps will be taken in order to make easy for readers about the finding of research. This dissertation is structured into SEVEN categories which are: LITERATURE REVIEW RESEARCH METHADOLOGY FINDINDS DISCUSSION CONCLUSIONRECOMENDATIONS REFLECTION REPORT The layout of chapters for this report is as follows; 1.4.1 Literature Review Literature review is one of the important sections of our work. We understand that literature review provides a based to understand the importance of HR activities in GISO. The term HR activities here imply role and practices of HRM, SHRM and its implementation in GISO. This chapter also focuses on the strategy and elaborates the link between strategy and HRM in the selected GISO. 1.4.2 Research Methodology The main aim of this chapter is to discuss different methods and techniques for investigation in selected area. We will discuss research philosophy principle (positivism, realism and interpretive), qualitative analysis, secondary and primary data and also different types of interviews. In this chapter conclusions are made to identify various approaches and techniques needed to conduct our research study. 1.4.3Findings and Results Research findings and derived results are presented in this chapter. These results are drawn from the interview and data collection from the managers/owners of the selected GISO’s. 1.4.4 Conclusion This chapter presents research finding and derived results of our research study. In this chapter focus is also given on the aims and objectives of our research especially in the context of HR activities in the selected GISO’s. One important aspects of this chapter is the listed factors and reasons that are derived. We believe these factors and reasons can persuade business managers and owners to integrate HR and business strategies in selected GISO’s. Moreover, they can also be helpful in promoting the whole idea among the GISO’s. 1.4.5 Reflection This chapter presents our own reflection in terms of learning process based on research findings and conclusions of carried out research study. 1.6.6 References We have studied different books, academic papers and articles to build the foundation of our project. In references section we have listed all of literature we have studies in our research study. CHAPTER 2 LITERATURE REVIEW 2.1 Preface: The preceding section initiated and summarized this learning. This section presents the literature review of this study, which is related to the shift of strategies as well as performance in global individual source organization. Primarily, an integrative structure for learning global individual source matters is obtainable. Next the general idea of literature argues present thoughts in the close relative regulations (Perry 2003). These are initial, global individual source organization, next, nationwide, educational as well as lawful dissimilarities among United Kingdom as well as Pakistan, third, international projects their collision on individual source matters, plus the instant regulation, shift of individual source strategies as well as perform from international projects headquarters to auxiliary. 2.2 Integrative structure of planned Global Individual Source Organization (GISO): This part begins with the introduction of an integrative structure of planned global individual source organization. Its arrangements as well as inferences for this section are discussed. This structure is believed in determining an idea inside the field of Planned Global Individual Source Organization (PGISO) moreover it is extensively used as a structure for study plus educational coaching in the field of global Human resource. The frame is motionless suitable and present, in spite of the rising attention inside the field of Global Individual Source Organization (PGISO) more than the last 10 years (Evans 2003; Fisher Haertel 2004; Rowley Benson 2004; Schuler Budhwar 2002). As Pawan and Bahadur says ‘The impact of HRM policies on organisational performance is fully mediated by employee skills, attitudes, and behaviour. The paper concludes that although the motivation to perform HRM policy domain causes organisational performance, through employee attitudes, it may be supported that organisational performance positively moderates the effectiveness of this HRM policy domain, raising thus the question of reverse causality†(Anastasia, katou,Bahadur,2009). The HRM is concerned with the effective and efficient use of the organizations’ human resources. Hence, the human resource management runs the operations and as part of the functions of the HR departments is to attract the potential employees and by attracting the best applicants it is important that the HR management already prepared the strategies to help the hired employees perform well. Through the use of job analysis, the employees that are hired were trained and the expected them to perform the appropriate function effectively (Zafar, 2005). As in the words of Paul Gooderham†HRM promotes firm performance and firms have sufficient managerial autonomy to select HRM practices independently†(Gooderham and Nordhaug 2009). 2.3 Hierarchy of Human Resource themes (what is GISO and how it works): Schuler (1994; 2003) plus others (Briscoe 1996; Nankervis; Rowley Benson 2003) observed a hierarchy in the difficulty of human resources (HR) themes. The base is individual source organization in the firm at the nationwide stage. Individual Source Organization (ISO) comprises the majority human resources management jobs, such as payroll, as well as the themes of employing, presentation organization, preparation, expansion, recompense as well as advantages, as fine as manual labour relationships (Dowling, Schuler Welch 1994). Further difficulty is new when leaving single stage senior to Global Individual Source Organization (GISO), which comprises Individual Source Organization (ISO) as well as inserts the confronts of general, educational as well as lawful dissimilarities among the states of the firm’s actions (Adler 1986; Briscoe 1995; Dowling, Schuler Welch 1994; Fisher Hartwell 2003). 2.4 Global Individual Source Organization (GISO) This part describes an impression of GISO within the literature by talking about numerous obtainable GISO replicas. Three directions of MNE strategies towards GISO are argued. 2.4.1 Definition of Global Individual Source Organization (GISO): GISO descriptions are widespread; GISO matters merely discover features of Human Resource Management in MNEs (Briscoe 1995). For others ‘planned global individual source organization is no further than the request of GISO to the global or global commerce background’ (For this study a clear-cut explanation of Global Individual Source Organization (GISO) is used: GISO comprise of a compilation of strategies as well as perform that an international project uses to run the limited as well as non-local staff; it has in nations other than their residence nations. (Acclimatized from: Dowling, Schuler Welch 1994) 2.5 Obtainable Global Individual Source Organization (GISO) Replicas Some theoretical replicas look for to explain plus forecast how MNEs may demeanor Global Individual Source Organization (GISO) on a theoretical stage from a worldwide, planned viewpoint (Evans 1989, Pucik Barsoux 2002; Milliman, Von Glinow Nathan 1991; Nankervis, Compton 1999; Schuler 1993; Taylor, Beechler Napier 1996). What MNEs in fact perform as well as, further highly, how they accomplish it is not so fine filed. Afterward replicas identify additional interior also exterior issues to clarify MNEs options of Global Individual Source Organization (GISO) schemes. 2.6 Global Individual Source Organization (GISO) Courses policies An explorative GISO course is single in which the close relative firms Human Resource Management scheme is being moved to its dissimilar associates. This policy highlights incorporation crossways the entire associates. The unenthusiastic feature of such an explorative GISO policy is its rigidity. This might show the way to an ethnocentric course from Head Quarters (HQ) plus as a result, associates may be resisted to the compulsory perform (Adler 2001). The next, an adaptive GISO course is single in which every associate expands its personal Human Resource Management scheme, dazzling the restricted surroundings. The unenthusiastic feature of such an adaptive GISO policy is it’s require of internationally suitable principles as well as perhaps a group of incompetence due to the manifold formations of comparable strategies as well as schemes (Roberts,. 2000). The third, an integrative GISO course, together unites individuality of the close relative corporations Human Resource Management scheme with individuals of its global associates, as well as tries to obtain ‘the most excellent’ Human Resource Management strategies plus employ them all through the association. Shifting of Human Resource Management strategies as well as performance happens plus can go away in several ways, among associates or from single associate to Head Quarters (HQ) or from Head Quarters (HQ) to an associate (Taylor, Beechler Napier 1996). If realized fine, the integrative strategy is obviously the attractive win-win answer. The likely unenthusiastic feature is that the last GISO strategies of an MNE might symbolize the lowest ordinary denominator quite than surroundings global principles (Kostova 1999). Containing recognized the dissimilar alternatives of GISO in words of an explorative, adaptive as well as integrative strategy; the query is how to make a decision which alternative to decide. 2.7 Nationwide, Educational as well as lawful dissimilarities among United Kingdom Pakistan: This part primarily contrasts the states United Kingdom plus Pakistan on a macroeconomic stage plus after that continues to talk about a structure for relative learning on Human Resource Management matters. Moreover, civilization is described as well as a contrast of the educational dissimilarities of the nations founded on four writers’ replicas, is offered. Chart 2.7.1: Essential details concerning United Kingdom Pakistan Contrast United Kingdom Pakistan Populace(millions) 83.5 18.7 GDP (billion US$)* 2259 451.2 GDP for each head(US$)* 35,100 2,400 Labour force(millions) 31.45% 55.77 Inflation rate 3.3 % 13.4% Joblessness 7.9 % 15% Faith 71.6%Christian 95 %Muslims (Source: World Fact Book 2010) *= founded on buying authority equivalence 2.7.2 Relative Structure Sensible: Relative learning on state stages countenances the difficulty of opposing styles plus information (Rowley Benson 2002). Nonetheless an effort is completed underneath to present a prà ©cis of the nations beneath learning, relating the relative structure of Velma, Kocher plus Lansbury (1996) in chart 2.8.2. Chart 2.7.2: Structure Functional for relative learning of United Kingdom Pakistan United Kingdom Pakistan Employment Association Wide exercise of skill to amplify suppleness plus output of labour force. Mainly prejudiced by attendance of American MNEs’ local Head Quarters. Ability Configuration Fine skilled labour force with stress on occupational preparation plus sensible learning. Management drives elevated stages of teaching.Extremely incomplete attempt from the confidential division. Recompense schemes Although an elevated earnings state, genuine incomes have been in refuse for years. Comparatively consistently dispersed disburse levels between businesses occupations. Earnings have been continually increasing in actual words with elevated manifolds of compensate levels as the standard. Pakistan is not a contemptible work site any longer. Service Safety Elevated servicesafety as well as labour force faithfulness with lawful defence of the labour force in recessions that creates saversCautious to get bigger in improvements. Extremely livelywork marketplacewithout compulsion on company to offerEnduring service or work safety. Business Supremacy Communal negotiating well-built locations of the combinations that are as well symbolized on the panels of managers (co- willpower). Communally awfully steady. Corporatist scheme where the country forces work in a position secondary to administration financial rule. Generally steady. (Sources: Briscoe 1995; Herkenhoff 2000; Kamoche 2000; Lawler Siengthai 1998; Verma, Kochan Lansbury 1995). 2.8 Employment Association (United Kingdom Asia): United Kingdom utilizes skill to enlarge suppleness plus output of the labor force, Pakistan is powerfully prejudiced by American MNEs containing their Asia Head Quarters in Pakistan. Thailand is prejudiced in its job association by Buddhism as well as the physically powerful attendance of the kingdom Indonesia, being quite rigid, utilizes its plentiful labor force with not a lot attempt to amplify output. (Briscoe 1995; Kamoche 2000; Lawler Siengthai 1998; Verma, Kochan Lansbury 1995). 2.9 Ability Configuration: Pakistan have a profusion of inexpert work, with lacks in guidance as well as accomplished work, at the same time in Pakistan the administration vigorously forces for elevated stages of teaching as well as guidance. In United Kingdom the importance is on sensible learning, intensely entrenched in the scheme throughout professional guidance (Briscoe 1995; Kamoche 2000). 2.10 Recompense schemes: United Kingdom is elevated earnings kingdom with Pakistan being a contemptible work state. Whereas incomes plus salaries are dispersed comparatively consistently in United Kingdom, creating it extremely luxurious for low accomplished work, where as Pakistan is further used to elevate manifolds of disburse levels (Herkenhoff 2000; Kamoche 2000). 2.11 Service Safety: The additional Asian nations have lively work marketplaces as well as small employee faithfulness with the United States being the responsibility replica for Pakistan. The United Kingdom work marketplaces is very much controlled plus defended, therefore not self-motivated, with elevated employee devotion. United Kingdom defends their labour force lawfully in opposition to suspends, resultant in extra cautious developments throughout financial improvements (Briscoe 1995; Lawler Siengthai 1996). 2.12 Importance of Training in an organisation: One of the important element of HRM beside selection and hiring of employees is the training of employees. It is an essential tool for an organisation and plays an important role in enhancing the effectiveness and efficiency of the employees. It is beneficial for both the employee and the employer because when an organisation provides effective training to its employees they will in return be able to put that training in practice. Training is also important for employees to help them to cope themselves with the rapid or slow changes within the organisation. That is the reason that organisations put high regard on giving training to its employees Wright et al (1992). With the help of effectively conducted training programmes a large number of potential benefits can be obtained by individuals as well as organisations. With respect to their position trainees may gain greater intrinsic or extrinsic job satisfaction. Intrinsic satisfaction comes from performing a task well and extrinsic job satisfaction may be derived from extra earnings gained by performing well in an organisation which can also become the cause of enhancement of career and promotion prospects both inside and outside the organisation. On the other hand organisations benefits from increase in employee work performance and productivity Welch (1994). 2.13 Human Resource Practices in UK and Pakistan: To evaluate the present structure of HRM with respect to both countries, the author would also analyse the key factors affecting on HRM, which include, culture, political, economic social context, Institutions, education system and the present structure of HR in Pakistan, but the focal point of this study would be training practices of multinational banks having branches both in UK and Pakistan. According to Peter F. Drucker â€Å"People are definitely the companys greatest assets. It doesnt make a difference whether the product is cars or cosmetics. A company is as good as the people keep it.† 2.13.1 HR Practices in Pakistan: Pakistan was established on August 14, 1947. Today in 2011, sixty three years later, Pakistan is still experiencing growing pains. As a young nation Pakistan is facing a number of struggles to become a sustainable development country so that along with the national companies foreign companies should also do investment here. For this reason it is struggling hard to attain sustainable development particularly in the field of Human Resource management. From past 2 decades as the business started to grow up and foreign investment started to come in the country a large number of obstacles have been seen particularly in the field of improving and managing the human resource effectively. At this point Pakistan, the human resource management situation in Pakistan is far from being excellent. In some private sectors, HR department is present but it is not fully functional. The Army in Pakistan is a bit organized but still experiences some lapses in other areas. The multinational companies fai r better in the human resource department because they have management tools perfectly in place. The human resource techniques used in Pakistan in past need to be re-examined because they only managed to create a group of unskilled qualified man power and unproductive organizations. The issues or problems surrounding the human resource management all falls under the functions of HRM discipline. The issues revolve around several aspects such as: Job Analysis and Design: The function of human resource management is to monitor constantly the everyday performance of the organisation as everyday has new performance implication Guest, D (2001). In Pakistan most of the times the employees found themselves in an overlapping situation. One of the main reasons for this is that the job description and specifications are not properly outlined. This results in a situation where employees found themselves in an overlapping situation and take pressure and burden of work which makes them less productive and stops them to achieve their targets of job. Work Flow Process: In Pakistan the work flow process is not given much attention and is not implemented very well. This results in finishing a task longer time than in routine. In order to complete a task those processes are also done which are not necessary for the accomplishment of the task. Consequently, people end up doing more work that does not lead to the achievement of their goals. It also makes the management process seemed more complicated and time-consuming Singh K (2004). Recruitment and Selection: Nepotism and mal are the main hurdles which are responsible to curtail the process of hiring and selection in many government and private organisations. However with the introduction of new procedures the recruitment and selection process is getting better. In the private sector things look rosier since hiring is based on the qualifications of the applicant. Even if he is referred by the incumbent still the person they will hire needs to come up with certain performance standards to be able to remain in the organization. Work Environment: The office environment in Pakistan does not meet the standard of health and safety and sanitation standards. This is particularly noticeable in the government sector. The office does not provide a hospitable working environment that encourages productivity. The rooms usually do not have proper seating arrangements and cleanliness is ignored. However with the establishment of multinational companies and banks the environment on whole is getting better as they follow strict international standards of health and safety.Hierarchy: Government sector hierarchy is quite complicated in Pakistan. Expressing the point of view is quite difficult which can cost the employee his job. The officers in higher positions demand following of protocols complete with paraphernalia which costs money for the government. In the private sector, hierarchy is sometimes ignored where as in multinational organisations it is on very small scale. Working Hours: Working in the government requires that the employee report for work at 8am in the morning everyday even if they don’t do anything at that time. The employees usually come in at 8 then hop on a government vehicle to visit various offices for networking, socialize. At lunchtime they go home, rest then come back at 5pm in the evening and work until 9pm. This working technique allows worker to be committed to their jobs and learn hard work and perseverance. Performance Appraisal: The ACR in the government can either make or break careers. It is not unusual to see bending or distorting of appraisal to make the report more favourable to the employee. One report could spell a huge difference in a person’s career such as job promotion. Performance effectiveness often means not showing excellent performance but closer ties with the boss. The person in the higher position often does not bother to socialize with subordinates because they do not give feedback to the boss. Systems and SOPs: Government has some systems in place although some need improvement. The local NGO (non government organisation) sector does not have any system at all as they do whatever they want. The private sector such as multi-national companies is in a much better shape since they have established system for company activities. Reward System: Money is often seen as the only motivator even if employees are not compensated well. A vivid example of this is a police officer and an ordinary police man, the former often receives a number of privileges at work the latter however does not. The reward system could not possibly motivate people or be a real ‘reward system’ since excellent performances is not recognized by being promoted in the job or incurring a higher salary. Just as bad performance does not incur disciplinary measures for the employee. The reward system is virtually non-existent. Career Development: Employees often could not aspire for growth because of the presence of political red tape that poses as obstacles to be able to attain job promotions or, at least, a higher salary. Training and Development: Several national and international trainings are financed by the government for employees. These trainings however are dimmed by intrigues as the motive behind the selection of employees to be trained is often under suspicion Cooke, F (2002). The relevance of training and its applicability to the job is under scrutiny since it was found out that most Pakistani officials avail of international trainings to be able to experience travelling and have shopping trips. Aside from these pressing issues facing the sustainable advancement of human resource in Pakistan, more issues hound them such as: Cost benefit analysis is not used in management decisions to determine the feasibility of a certain project or undertaking. The education policies are not applicable to the industrial requirements. Education is more focus on the theoretical aspect rather than the practical aspect of the profession. Most professional malpractices are brought about by political pressures. People are not chosen for the right jobs. Consequently, jobs become a daily routine. People have ulterior motives that cater to their own interest even if it does not contribute to the advancement of the organization. Poor leadership. Diversity and innovation is not practiced in most companies whether government-owned or private. Lack of opportunities for growth. Low motivation. Passive behaviours. Management by Objectives (MBO) is not in place. Multitasking is not practiced among government employees. Pay is not based on performance level of an employee. Commitment level is very low. There is a noticeable lack of specialists in some subjects. Deficient research in the area. Improper Communication within the organization. Inflexibility. Wrong perceptions. Many organizations don’t have a vision on where the company is heading. Short term vision Government spent money to improve human resource but due to lack of planning, the expected positive result was not realized. Pakistan struggles to secure a place in the League of Nations because of poor human resource management in the past. Working is not enough if not given proper support and credit. These, however, are manageable issues once Pakistan resolves them. 2.13.2 HR Practices in UK: Human resource practice in UK can be considered as a perfect example of successful HRM techniques in developed countries. Comparing with Pakistan HRM practiced in UK can be said as the other side of the coin. Comparatively human resource practices in United Kingdom are more in place than in Pakistan. With hundreds of multinational companies and thousands of national companies all over United Kingdom a large workforce is working having a multi cultural background. Employees are offered an attractive salary and are also given benefits. In order to maintain the standard facilities, training and work conditions are also better as standards are needed to be adhered to. Government and private organisations work hand in hand to ensure that laws, policies and systems are practiced and carried out. As a testament to this, a number of skilled labourers also migrated to the United Kingdom from countries such as India, Philippines and Pakistan due to the more favourable working conditions in the UK Brewster et al (2004). This may come as a huge surprise then that in the latest survey of 2000 UK employees commissioned by the Chartered Institute of Personnel and Development (CIPD) revealed that relationships between employers and employees in a number of workplaces are described as having poor communication, trust is at low levels which leads to underperformance, low productivity and high staff turnover. In a book called Working Life: Employee Attitudes and Engagement 2006 written by Catherine Truss, Emma Soane and Christine Edwards from the School of Human Resource Management at the Kingston Business School, Kingston University and Karen Wisdom, Andrew Croll and Jamie Burnett from Ipsos MORI. The authors believe that the main problem in HR practices in UK revolves around communication and trust. In so many ways, it is similar to a marriage under stress: Mike Emmott, CIPD employee relations adviser, said: Lack of communication means many employees feel unsupported and dont feel their hard work is recognized. As a result the sparkle has gone out of the relationship, damaging productivity levels in many UK businesses.

A Timeline of Events in Electromagnetism

A Timeline of Events in Electromagnetism Human fascination with electromagnetism, the interaction of electric currents and magnetic fields, dates back to the dawn of time with the human observation of lightning and other unexplainable occurrences, such as electric fish and eels. Humans knew there was a phenomenon, but it remained shrouded in mysticism until the 1600s when scientists began digging deeper into theory. This timeline of events about the discovery and research leading to our modern understanding of electromagnetism demonstrates how scientists, inventors, and theorists worked together to advance the science collectively. 600 BCE: Sparking Amber in Ancient Greece The earliest writings about electromagnetism were in 600 BCE, when the ancient Greek philosopher, mathematician and scientist Thales of Miletus described his experiments rubbing animal fur on various substances such as amber. Thales discovered that amber rubbed with fur attracts bits of dust and hairs that create static electricity, and if he rubbed the amber for long enough, he could even get an electric spark to jump. 221–206 BCE: Chinese Lodestone Compass The magnetic compass is an ancient Chinese invention, likely first made in China during the Qin dynasty, from 221 to 206 BCE. The compass used a lodestone, a magnetic oxide, to indicate true north. The underlying concept may not have been understood, but the ability of the compass to point true north was clear. 1600: Gilbert and the Lodestone Toward the late 16th century, the founder of electrical science English scientist William Gilbert published De Magnete in Latin translated as On the Magnet or On the Lodestone. Gilbert was a contemporary of Galileo, who was impressed by Gilberts work. Gilbert undertook a number of careful electrical experiments, in the course of which he discovered that many substances were capable of manifesting electrical properties. Gilbert also discovered that a heated body lost its electricity and that moisture prevented the electrification of all bodies. He also noticed that electrified substances attracted all other substances indiscriminately, whereas a magnet only attracted iron. 1752: Franklins Kite Experiments American founding father Benjamin Franklin is famous for the extremely dangerous experiment he ran, of having his son fly a kite through a storm-threatened sky. A key attached to the kite string sparked and charged a Leyden jar, thus establishing the link between lightning and electricity. Following these experiments, he invented the lightning rod. Franklin discovered there are two kinds of charges, positive and negative: objects with like charges repel one another, and those with unlike charges attract one another. Franklin also documented the conservation of charge, the theory that an isolated system has a constant total charge. 1785: Coulombs Law In 1785, French physicist Charles-Augustin de Coulomb developed Coulombs law, the definition of the electrostatic force of attraction and repulsion. He found that the force exerted between two small electrified bodies is directly proportional to the product of the magnitude of charges and varies inversely to the square of the distance between those charges. Coulombs discovery of the law of inverse squares virtually annexed a large part of the domain of electricity. He also produced important work on the study of friction. 1789: Galvanic Electricity In 1780, Italian professor Luigi Galvani (1737–1790) discovered that electricity from two different metals causes frog legs to twitch. He observed that a frogs muscle, suspended on an iron balustrade by a copper hook passing through its dorsal column, underwent lively convulsions without any extraneous cause. To account for this phenomenon, Galvani assumed that electricity of opposite kinds existed in the nerves and muscles of the frog. Galvani published the results of his discoveries in 1789, together with his hypothesis, which engrossed the attention of the physicists of that time. 1790: Voltaic Electricity Italian physicist, chemist and inventor Alessandro Volta (1745–1827) read of Galvanis research and in his own work discovered that chemicals acting on two dissimilar metals generate electricity without the benefit of a frog. He invented the first electric battery, the voltaic pile battery in 1799. With the pile battery, Volta proved that electricity could be generated chemically and debunked the prevalent theory that electricity was generated solely by living beings. Voltas invention sparked a great deal of scientific excitement, leading others to conduct similar experiments which eventually led to the development of the field of electrochemistry. 1820: Magnetic Fields In 1820, Danish physicist and chemist Hans Christian Oersted (1777–1851) discovered what would become known as Oersteds Law: that an electric current affects a compass needle and creates magnetic fields. He was the first scientist to find the connection between electricity and magnetism. 1821: Amperes Electrodynamics French physicist Andre Marie Ampere (1775–1836) found that wires carrying current produce forces on each other, announcing his theory of electrodynamics in 1821. Amperes theory of electrodynamics states that two parallel portions of a circuit attract one another if the currents in them are flowing in the same direction, and repel one another if the currents flow in the opposite direction. Two portions of circuits crossing one another obliquely attract one another if both the currents flow either towards or from the point of crossing and repel one another if one flows to and the other from that point. When an element of a circuit exerts a force on another element of a circuit, that force always tends to urge the second one in a direction at right angles to its own direction. 1831: Faraday and Electromagnetic Induction English scientist Michael Faraday (1791–1867) at the Royal Society in London developed the idea of an electric field and studied the effect of currents on magnets. His research found that the magnetic field created around a conductor carried a direct current, thereby establishing the basis for the concept of the electromagnetic field in physics. Faraday also established that magnetism could affect rays of light and that there was an underlying relationship between the two phenomena. He similarly discovered the principles of electromagnetic induction and diamagnetism and the laws of electrolysis. 1873: Maxwell and the Basis of Electromagnetic Theory James Clerk Maxwell (1831–1879), a Scottish physicist and mathematician, recognized that electromagnetisms processes could be established using mathematics. Maxwell published Treatise on Electricity and Magnetism in 1873 in which he summarizes and synthesizes the discoveries of Coloumb, Oersted, Ampere, Faraday into four mathematical equations. Maxwells equations are used today as the basis of electromagnetic theory. Maxwell predicts the connections of magnetism and electricity leading directly to the prediction of electromagnetic waves. 1885: Hertz and Electric Waves German physicist Heinrich Hertz proved Maxwells electromagnetic wave theory was correct, and in the process, generated and detected electromagnetic waves. Hertz published his work in a book, Electric Waves: Being Researches on the Propagation of Electric Action With Finite Velocity Through Space. The discovery of electromagnetic waves led to the development to the radio. The unit of frequency of the waves measured in cycles per second was named the hertz in his honor. 1895: Marconi and the Radio In 1895, Italian inventor and electrical engineer Guglielmo Marconi put the discovery of electromagnetic waves to practical use by sending messages over long distances using radio signals, also known as the wireless. He was known for his pioneering work on long-distance radio transmission and his development of Marconis law and a radio telegraph system. He is often credited as the inventor of the radio, and he shared the 1909 Nobel Prize in Physics with Karl Ferdinand Braun in recognition of their contributions to the development of wireless telegraphy. Sources Andrà © Marie Ampà ¨re. St. Andrews University. 1998. Web. June 10, 2018.Benjamin Franklin and the Kite Experiment. The Franklin Institute. Web. June 10, 2018.Coulombs Law. The Physics Classroom. Web. June 10, 2018. De Magnete. The William Gilbert Website. Web. June 10, 2018.July 1820: Oersted and electromagnetism. This Month in Physics History, APS News. 2008. Web. June 10, 2018.OGrady, Patricia. Thales of Miletus (c. 620 B.C.E.- c. 546 B.C.E.). Internet Encyclopedia of Philosophy. Web. June 10, 2018Silverman, Susan. Compass, China, 200 BCE. Smith College. Web. June 10, 2018.

New Business Propsal Research Paper Example | Topics and Well Written Essays - 750 words

New Business Propsal - Research Paper Example This strategy will enable the company to easily capture the older Chinese people. In general, fruits are good for the health. Therefore, it is a good business strategy to develop a wide-range of combined fruit juices to enable the company attracts a large population of health conscious individuals living in China. Executive Summaries and Business Pro Forma Executive summaries and business pro formas is about studying the market demand and analyzing the actual cost of establishing a business (The City of Victoria, 2011). In general, drafting an executive summaries and business pro formas is important part of designing a business proposal since the process of going through the proposed business plan would give the business owner a better insight whether or not the proposed business idea is feasible or not. Specifically the population of China is one of the highest around the world. As of July 2010, the total population in China is a little more than 1.3 billion (Central Intelligence Ag ency, 2011a). Regardless of gender and sexual orientation, the target consumer for this product is between the age brackets of 15 – 64 years old is 72.1% of China’s entire population or close to 965 million individuals (ibid). Aside from having a very low unemployment rate with only 4.3% as of the last quarter of 2010, makes the idea to operate the business in China more feasible and lucrative as compared to doing the business in the United Kingdom (Central Intelligence Agency, 2011b). To make the proposed fruit-, tea-, and coffee-based smoothies reach the target consumers in China, I intend to penetrate the target consumers by initially renting out a small booth or stalls in different malls in Shanghai. In line with this, the top 10 malls in Shanghai China which I intend to establish a small booth or stalls include: Carrefour, No. 1 Department Store, Friendship Store, Grand Gateway Mall, Orient Department Store, Plaza 66, Shanghai Westgate Shopping Mall, Super Brand M all, Westgate Mall, and Yaxin Plaza (World Guides, 2011). Aside from making it easier for me to pull out the stalls in areas wherein the volume of target consumers who will be purchasing fruit-, tea-, and coffee-based smoothies is low, one of the reasons why it is necessary to start the business in a small-scale includes cheaper rental fees and lower manpower cost. By cutting down the daily operational cost in each mall, it is possible for me to take advantage of economies of scale and easily make the brand name be known to the public consumers. When managing the proposed business, it is very important on my part to reach the level higher than the break-even point. By reaching the break-even point, it means that I will not incur either business profit or loss. When computing for the break-even point, it is important to determine the variable and fixed operational expenses. Regardless of whether or not the total volume of sales is high, the fixed operational cost is referring to fix expenses which I should pay each month. On the other hand, variable costs include expenses which may accumulate depending on the demand for the proposed product. The minimum monthly wage in Shanghai, Beijing and Tianjin China is 1,120 yuan or 11 yuan per hour

Branding of a City in the 21st Century Coursework - 1

Branding of a City in the 21st Century - Coursework Example While the consumer's awareness of a brand, and the reasons for choosing an associated product may depend on various factors including peer reference, peer approval, or other social factors beyond the direct control of the brand's investor, the brand's marketing mix is definitely within the investor's control, and something that demands big budget investment. Therefore, investor's and researchers are always concerned about the actual effects and results of marketing components including advertisement, sales promotions, and company emblems - upon the consumer's perception and their consequence upon brand equity. In the last decade, a lot of research has been dedicated to conceptualizing and measuring customer-based brand equity. However, apart from putting forth various influencing factors, no integrative framework has so far been developed to account for the complex psychological processes underlying the formation of customer-based brand equity. This has strong implications as far as message processing and persuasion in tourism and city image is concerned. The modern day consumers' decision making as far a choice of a brand remains widely unquestioned as far as practical observations and research go. This is especially true of city branding whether it is for tourists or for possible settlers. There are a variety of models to conceptualize and measure "brand equity" in order to explain how brand equity is generated in the consumer's mind in terms of images of cities. These models consist of a thorough analysis of each factor that influences the decision making process as well as several synoptic approaches examining the influence of different variables on brand equity are available (Kotler, 1997 , p. 443). This promotes a deeper understanding of the elements of brand identity for cities as this is a fairly new phenomenon that has sprung from the advent of globalization. The elements of the brand equity in this regard have been studied from the perspective of case studies so as to understand the perception management elements that go in to creating an image for a city. (Kaplanidou et al, 2003) Brand Identity is that element of perception management and awareness in a city's image, which has its focus in the results of a

Stereotypes in media Essay -- essays research papers

â€Å"Bringing Down the House† featuring Steve Martin and Queen Latifah is a clever comedy that creatively showcases the sociolinguistic phenomena covered in this course. The film is about a tax attorney named Peter, played by Martin, who stumbles into an online lawyer chat room and meets Charlene, played by Latifah. The two chat frequently, mostly about court cases, and eventually decide to meet in person. When the day finally comes, Peter is greeted at the door with who he thought would be a middle-aged Caucasian woman, but happened to be Charlene, a black woman who just escaped from prison. Thinking this was a mistake, Peter tries to kick out Charlene but is later convinced she is the one who he was speaking with in the chat room. Charlene was able to successfully impersonate a lawyer through speech, and along with a deceiving picture, able to convince Peter she was a petite blonde. During these chats, the two talked about court cases that happened to relate to Charleneâ⠂¬â„¢s predicament with the law. In attempt to clear her name from a crime she did not commit, Charlene researched the judicial system and similar court cases to hers while in prison. Now that she is out, she seeks personal assistance from Peter who has already through the internet, given her support. All throughout the movie the characters contrast in viewpoints, culture, and most importantly for our studies, language. Charlene and Peter represent different language backgrounds which we can analyze as the root of their character development and actions throughout the film.   Ã‚  Ã‚  Ã‚  Ã‚  To illustrate generational conflict, the scene when Peter confronts his daughter about her crazy night, best conveys the phenomena. In the scene Peter’s daughter sneaks out of the house late at night to attend an unsupervised party with some friends which involved drinking, smoking, and other activities that make up a parent’s worst nightmare. While at the party, the boy who accompanied her there begins to make sexual advances. Frightened and confused, Sarah calls Charlene who comes to pick her up, teach the boy a lesson, and bring her home safely. This is when Charlene tells Peter what just happened and tries to cool him down before he explodes with anger. By instinct, Peter plans to scold his daughter with an intimidating language, tone, and overall authoritarian speech. Before letting him conti... ...es can lead to difficulty in understanding one who is from a different background. Peter, who we assume was brought up in a suburban environment with the upper class, portrays standard English compared to Charlene who was brought up in a black urban neighborhood which would explain her AAVE speech. Although both speak English, it is simply the variation that arose from class, gender, ethnicity, and other distinct traits that led for misunderstandings to occur. In part of the scene, in attempt to explain her course of actions through her alleged crime, Charlene says â€Å"When Roscoe cracked that doe, I was strait off day heezy and bounced.† After Peter looked at her with a lost look and asked her what she said, Charlene restated the phrase by saying â€Å"I was recently liberated from a correctional facility†¦Ã¢â‚¬  This moment illustrates not only the language variations of English, but the necessity for one to style shift according to their audience. English has m any dialects, pronunciations, and other factors that may require one to adapt temporarily to facilitate communication with somebody who is accustomed to a different form. This was the case for Charlene, as it is for others in the film. Stereotypes in media Essay -- essays research papers â€Å"Bringing Down the House† featuring Steve Martin and Queen Latifah is a clever comedy that creatively showcases the sociolinguistic phenomena covered in this course. The film is about a tax attorney named Peter, played by Martin, who stumbles into an online lawyer chat room and meets Charlene, played by Latifah. The two chat frequently, mostly about court cases, and eventually decide to meet in person. When the day finally comes, Peter is greeted at the door with who he thought would be a middle-aged Caucasian woman, but happened to be Charlene, a black woman who just escaped from prison. Thinking this was a mistake, Peter tries to kick out Charlene but is later convinced she is the one who he was speaking with in the chat room. Charlene was able to successfully impersonate a lawyer through speech, and along with a deceiving picture, able to convince Peter she was a petite blonde. During these chats, the two talked about court cases that happened to relate to Charleneâ⠂¬â„¢s predicament with the law. In attempt to clear her name from a crime she did not commit, Charlene researched the judicial system and similar court cases to hers while in prison. Now that she is out, she seeks personal assistance from Peter who has already through the internet, given her support. All throughout the movie the characters contrast in viewpoints, culture, and most importantly for our studies, language. Charlene and Peter represent different language backgrounds which we can analyze as the root of their character development and actions throughout the film.   Ã‚  Ã‚  Ã‚  Ã‚  To illustrate generational conflict, the scene when Peter confronts his daughter about her crazy night, best conveys the phenomena. In the scene Peter’s daughter sneaks out of the house late at night to attend an unsupervised party with some friends which involved drinking, smoking, and other activities that make up a parent’s worst nightmare. While at the party, the boy who accompanied her there begins to make sexual advances. Frightened and confused, Sarah calls Charlene who comes to pick her up, teach the boy a lesson, and bring her home safely. This is when Charlene tells Peter what just happened and tries to cool him down before he explodes with anger. By instinct, Peter plans to scold his daughter with an intimidating language, tone, and overall authoritarian speech. Before letting him conti... ...es can lead to difficulty in understanding one who is from a different background. Peter, who we assume was brought up in a suburban environment with the upper class, portrays standard English compared to Charlene who was brought up in a black urban neighborhood which would explain her AAVE speech. Although both speak English, it is simply the variation that arose from class, gender, ethnicity, and other distinct traits that led for misunderstandings to occur. In part of the scene, in attempt to explain her course of actions through her alleged crime, Charlene says â€Å"When Roscoe cracked that doe, I was strait off day heezy and bounced.† After Peter looked at her with a lost look and asked her what she said, Charlene restated the phrase by saying â€Å"I was recently liberated from a correctional facility†¦Ã¢â‚¬  This moment illustrates not only the language variations of English, but the necessity for one to style shift according to their audience. English has m any dialects, pronunciations, and other factors that may require one to adapt temporarily to facilitate communication with somebody who is accustomed to a different form. This was the case for Charlene, as it is for others in the film.

Pay for performance Essay

Motivation, Performance, and Pay Incentives Financial rewards paid to workers whose production exceeds a predetermined standard. Individual Differences Law of individual differences The fact that people differ in personality, abilities, values, and needs. Different people react to different incentives in different ways. Managers should be aware of employee needs and fine-tune the incentives offered to meets their needs. Money is not the only motivator. Employee Preferences for Noncash Incentives Needs and Motivation Abraham Maslow’s Hierarchy of Needs Five increasingly higher-level needs: physiological (food, water, sex) security (a safe environment) social (relationships with others) self-esteem (a sense of personal worth) self-actualization (becoming the desired self) Lower level needs must be satisfied before higher level needs can be addressed or become of interest to the individual. Herzberg’s Hygiene–Motivator theory Hygienes (extrinsic job factors) Inadequate working conditions, salary, and incentive pay can cause dissatisfaction and prevent satisfaction. Motivators (intrinsic job factors) Job enrichment (challenging job, feedback and recognition) addresses higher-level (achievement, self-actualization) needs. The best way to motivate someone is to organize the job so that doing it helps satisfy the person’s higher-level needs. Edward Deci Intrinsically motivated behaviors are motivated by the underlying need for competence and self-determination. Offering an extrinsic reward for an intrinsically-motivated act can conflict with the acting individual’s internal sense of responsibility. Some behaviors are best motivated by job challenge and recognition, others by financial rewards. Instrumentality and Rewards Vroom’s Expectancy Theory A person’s motivation to exert some level of effort is a function of three things: Expectancy: that effort will lead to performance. Have to have the skills to do the job Instrumentality: the connection between performance and the appropriate reward. Goal must be attainable Valence: the value the person places on the reward. Motivation = E x I x V If any factor (E, I, or V) is zero, then there is no motivation to work toward the reward. Employee confidence building and training, accurate appraisals, and knowledge of workers’ desired rewards can increase employee motivation. Types of Incentive Plans Pay-for-performance plans Variable pay (organizational focus) A team or group incentive plan that ties pay to some measure of the firm’s overall profitability. Variable pay (individual focus) Any plan that ties pay to individual productivity or profitability, usually as one-time lump payments. Pay-for-performance plans Individual incentive/recognition programs Sales compensation programs Team/group-based variable pay programs Organizationwide incentive programs Executive incentive compensation programs Individual Incentive Plans Piecework Plans The worker is paid a sum (called a piece rate) for each unit he or she produces. Straight piecework: A fixed sum is paid for each unit the worker produces under an established piece rate standard. An incentive may be paid for exceeding the piece rate standard. Standard hour plan: The worker gets a premium equal to the percent by which his or her work performance exceeds the established standard. Pro and cons of piecework Easily understandable, equitable, and powerful incentives. Employee resistance to changes in standards or work processes affecting output Quality problems caused by an overriding output focus. Employee dissatisfaction when incentives either cannot be earned due to external factors or are withdrawn due to a lack of need for output Merit pay A permanent cumulative salary increase the firm awards to an individual employee based on his or her individual performance. Merit pay options Annual lump-sum merit raises that do not make the raise part of an employee’s base salary. Merit awards tied to both individual and organizational performance. Incentives for professional employees Professional employees are those whose work involves the application of learned knowledge to the solution of the employer’s problems. Lawyers, doctors, economists, and engineers. Decisions can be challenging These individuals are already well paid and are driven to succeed Possible incentives Bonuses, stock options and grants, profit sharing Better vacations, more flexible work hours Improved pension plans Equipment for home offices Recognition-based awards Recognition has a positive impact on performance, either alone or in conjunction with financial rewards. Combining financial rewards with nonfinancial ones produced performance improvement in service firms almost twice the effect of using each reward alone. Day-to-day recognition from supervisors, peers, and team members is important. Online award programs Programs offered by online incentives firms that improve and expedite the awards process. Broader range of awards More immediate rewards Information technology and incentives Enterprise incentive management (EIM) Software that automates the planning, calculation, modeling and management of incentive compensation plans, enabling companies to align their employees with corporate strategy and goals. Incentives for Salespeople Salary plan Straight salaries Best for: prospecting (finding new clients), account servicing, training customer’s salesforce, or participating in national and local trade shows. Commission plan Pay is only a percentage of sales Specialized Combination Plans Commission-plus-drawing-account plan Commissions are paid but a draw on future earnings helps the salesperson to get through low sales periods. Commission-plus-bonus plan Pay is mostly based on commissions. Small bonuses are paid for directed activities like selling slow-moving items. Organizationwide Variable Pay Plans Profit-sharing plans Cash plans Employees receive cash shares of the firm’s profits at regular intervals. The Lincoln incentive system Profits are distributed to employees based on their individual merit rating. Deferred profit-sharing plans A predetermined portion of company profits is placed in each employee’s account under a trustee’s supervision. Organizationwide Variable Pay Plans (cont’d) Employee stock ownership plan (ESOP) A corporation annually contributes its own stock—or cash (with a limit of 15%) to be used to purchase the stock—to a trust established for the employees. The trust holds the stock in individual employee accounts and distributes it to employees upon separation from the firm if the employee has worked long enough to earn ownership of the stock. Advantages of ESOPs Employees ESOPs help employees develop a sense of ownership in and commitment to the firm, and help to build teamwork. No taxes on ESOPs are due until employees receive a distribution from the trust, usually at retirement when their tax rate is lower. At-Risk Variable Pay Plans At-risk variable pay plans that put some portion of the employee’s weekly pay at risk. If employees meet or exceed their goals, they earn incentives. If they fail to meet their goals, they forgo some of the pay they would normally have earned. Short-Term Incentives for Managers And Executives Annual bonus Plans that are designed to motivate short-term performance of managers and are tied to company profitability. Eligibility basis: job level, base salary, and impact on profitability Fund size basis : nondeductible formula (net income) or deductible formula (profitability) Individual awards: personal performance/contribution Long-Term Incentives for Managers And Executives Stock option The right to purchase a specific number of shares of company stock at a specific price during a specific period of time. Other Executive Incentives Golden handshake Payments companies make to departing executives in connection with a change in ownership or control of a company. Guaranteed loans to directors Loans provided to buy company stock. A highly risky and now frowned upon practice. Creating an Executive Compensation Plan Define the strategic context for the executive compensation program. Shape each component of the package to focus the manager on achieve the firm’s strategic goals. Create a stock option plan to meet the needs of the executives and the company and its strategy. Check the executive compensation plan for compliance with all legal and regulatory requirements and for tax effectiveness. Install a process for reviewing and evaluating the executive compensation plan whenever a major business change occurs. Why Incentive Plans Fail You get what you pay for. â€Å"Pay is not a motivator.† Rewards rupture relationships. Rewards undermine intrinsic motivation. Implementing Effective Incentive Plans Ask: Is effort clearly instrumental in obtaining the reward? Link the incentive with your strategy. Make sure effort and rewards are directly related. Make the plan easy for employees to understand. Set effective standards. View the standard as a contract with your employees. Get employees’ support for the plan. Use good measurement systems. Emphasize long-term as well as short-term success.