Recent Trends in Hrm Essay Example for Free

Recent Trends in Hrm Essay Indian organizations are also witnessing a change in systems, management cultures and philosophy due to the global alignment of Indian organizations. There is a need for multi skill development. Role of HRM is becoming all the more important. Some of the recent trends that are being observed are as follows: †¢ The recent quality management standards ISO 9001 and ISO 9004 of 2000 focus more on people centric organizations. Organizations now need to prepare themselves in order to address people centered issues with commitment from the top management, with renewed thrust on HR issues, more particularly on training. Charles Handy also advocated future organizational models like Shamrock, Federal and Triple I. Such organizational models also refocus on people centric issues and call for redefining the future role of HR professionals. †¢ To leapfrog ahead of competition in this world of uncertainty, organizations have introduced six- sigma practices. Six- sigma uses rigorous analytical tools with leadership from the top and develops a method for sustainable improvement. These practices improve organizational values and helps in creating defect free product or services at minimum cost. Human resource outsourcing is a new accession that makes a traditional HR department redundant in an organization. Exult, the international pioneer in HR BPO already roped in Bank of America, international players BP Amoco over the years plan to spread their business to most of the Fortune 500 companies. †¢ With the increase of global job mobility, recruiting competent people is also increasingly becoming difficult, especially in India. Therefore by creating an enabling culture, organizations are also required to work out a retention strategy for the existing skilled manpower. NEW TRENDS IN INTERNATIONAL HRM International HRM places greater emphasis on a number of responsibilities and functions such as relocation, orientation and translation services to help employees adapt to a new and different environment outside their own country. Selection of employees requires careful evaluation of the personal characteristics of the candidate and his/her spouse. Training and development extends beyond information and orientation training to include sensitivity training and field experiences that will enable the manager to understand cultural differences better. Managers need to be protected from career development risks, re-entry problems and culture shock. To balance the pros and cons of home country and host country evaluations, performance evaluations should combine the two sources of appraisal information. Compensation systems should support the overall strategic intent of the organization but should be customized for local conditions. In many European countries Germany for one, law establishes representation. Organizations typically negotiate the agreement with the unions at a national level. In Europe it is more likely for salaried employees and managers to be unionized. HR Managers should do the following things to ensure success- †¢ Use workforce skills and abilities in order to exploit environmental opportunities and neutralize threats. †¢ Employ innovative reward plans that recognize employee contributions and grant enhancements. †¢ Indulge in continuous quality improvement through TQM and HR contributions like training, development, counseling, etc †¢ Utilize people with distinctive capabilities to create unsurpassed competence in an area, e. g. Xerox in photocopiers, 3M in adhesives, Telco in trucks etc. †¢ Lay off workers in a smooth way explaining facts to unions, workers and other affected groups e. g. IBM, Kodak, Xerox, etc. HR Managers today are focusing attention on the following- †¢ Policies- HR policies based on trust, openness, equity and consensus. †¢ Motivation- Create conditions in which people are willing to work with zeal, initiative and enthusiasm; make people feel like winners. †¢ Relations- Fair treatment of people and prompt redress of grievances would pave the way for healthy work-place relations. Change agent- Prepare workers to accept technological changes by clarifying doubts. †¢ Quality Consciousness- Commitment to quality in all aspects of personnel administration will ensure success. †¢ Due to the new trends in HR, in a nutshell the HR manager should treat people as resources, reward them equitably, and integrate their aspirations with corporate goals through suitable à ‚  India is being widely recognized as one of the most exciting emerging economics in the world. Besides becoming a global hub of outsourcing, Indian firms are spreading their wings globally through mergers and acquisitions. During the first four months of 1997, Indian companies have bought 34 foreign companies for about U. S. $11 billion dollars. This impressive development has been due to a growth in inputs (capital and labor) as well as factor productivity. By the year 2020, India is expected to add about 250 million to its labour pool at the rate of about 18 million a year, which is more than the entire labour force of Germany. This so called ‘demographic dividend’ has drawn a new interest in the Human Resource concepts and practices in India. Indian HRM in Transition One of the noteworthy features of the Indian workplace is demographic uniqueness. It is estimated that both China and India will have a population of 1. 45 billion people by 2030; however, India will have a larger workforce than China. Indeed, it is likely India will have 986 million people of working age in 2030, which will probably be about 300 million more than in 2007. And by 2050, it is expected India will have 230 million more workers than China and about 500 million more than the United States of America (U. S. ). It may be noted that half of India’s current population of 1. 1 billion people are under of 25 years of age. While this fact is a demographic dividend for the economy, it is also a danger sign for the country’s ability to create new jobs at an unprecedented rate. With the retirement age being 55 to 58 years of age in most public sector organizations, Indian workplaces are dominated by youth. Increasing the etirement age in critical areas like universities, schools, hospitals, research institutions and public service is a topic of considerable current debate and agenda of political parties. The divergent view, that each society has a unique set of national nuances, which guide particular managerial beliefs and actions, is being challenged in Indian society. An emerging dominant perspective is the influence of globalization on technological advancements, business management, and education and communication infrastructures are leading to a converging effect on managerial mindsets and business behaviors. And when India embraced liberalization and economic reform in the early 1990s, dramatic changes were set in motion in terms of corporate mindsets and HRM practices as a result of global imperatives and accompanying changes in societal priorities. Indeed, the onset of a burgeoning competitive service sector compelled a demographic shift in worker educational status and heightened the demand for job relevant skills as well as regional diversity. Expectedly, there has been a marked shift towards valuing human resources (HR) in Indian organizations as they become increasingly strategy driven as opposed to the culture of the status quo.

The Character of Mrs. Mallard in The Story of an Hour by Kate Chopin Es

The Character of Mrs. Mallard in The Story of an Hour by Kate Chopin In "The story of an Hour," Kate Chopin reveals the complex character, Mrs. Mallard, In a most unusual manner. THe reader is led to believe that her husband has been killed in a railway accident. The other characters in the story are worried about how to break the news to her; they know whe suffers from a heart condition, and they fear for her health. On the surface, the story appears to be about how Mrs. Mallard deals with the news of the death of her husband. On a deeper level, however, the story is about the feeling of intense joy that Mrs. Mallard experiences when she realizes that she is free from the influences of her husband and the consequences of finding out that her new-found freedom is not to be. At First, Mrs. Mallard seems to be genuinely affected by her grief: "She wept ar once, with sudden, wild abandonment....When the storm of grief had spent itself she went away to her room alone. SHe would have no one follow her". At this point in the story, the reader is abl e to look into the mind of Mr...

Interwest Healthcare Essay

What are the potential sources of the problem? The source of these problems seems to be coming from two areas in Interwest Healthcare. The first area is the miscommunication that the hospital administrators are having with upper management. The hospital administrators and upper management are not only having miscommunication issues but they also do not share the same role expectations with each other which is creating tension. â€Å"The hospital people accused Singh of being a bureaucrat who did not care about patient services. Singh accused the hospital staffs of not understanding the importance of accurate reporting† (Brickley, Smith & Zimmerman 2009 p. 38). The second area is the system or process that is in place for recording and entering data. The current process is clearly not running at an efficient rate which is raising concerns for upper management. Even though hospital administrators do not see to eye to eye with upper management the concerns that they have are valid and can have a very negative impact on Interwest Healthcare if the issue is not resolved. What information would you want to analyze? The first information that would be analyzed is the process that is done to record and enter data for patients. It is important to gain as much information as possible regarding the data entry because that is the root of the whole issue between hospital administrators and upper management. Another area that would be analyzed is the workplace with emphasis on how time is managed and the importance employees put on data entry. It is important to gather and analyze as much information as possible on the source of the problem. By gaining and analyzing the information it would help Interwest Healthcare make progress on the data entry issue which will put them in a better position to succeed. What actions might you recommend to increase the accuracy of the data entry? The first point of action would be streamlining and simplifying the data entry process. By completing those it would not only increase the accuracy of the data entry but it would also decrease the burden on the hospital administrators. But before any changes to the data entry process are made it is important to communicate directly to the hospital administrators. It is important to have the hospital administrators on board with the changes that will be made with the data entry process. By gaining the hospital administrators consent with the changes this will allow a smoother transition for the data entry change and it could provide a positive change to the workplace. As for the changes to the data entry it would most likely be a simple computer process along with small piece of paperwork. It would be best to have some sort or paper record on file that would need to be alphabetized along with a simple computer program. The computer program would help ensure accuracy and would have the patient’s data record on file which will be easy to locate. There would be very little paper work for the process mainly because it takes up space and takes more time to record. The paper work that is part of the process would simply serve as a backup if the computers were down. The key to ensuring accuracy with the data entry is to make the process as simple as possible so it would minimize the errors. How does your view of behavior affect how you might address the consulting assignment? As a consulting assignment I see Interwest Healthcare as a company in distress due to the way the hospital administrators and upper management. The way the two groups have been behaving and treating each other it is a clear sign of stress and miscommunication. One of the first tasks is to mediate the two groups and try to have everyone on the same page. There is a clear disconnect on the expectations of each other’s roles but by bringing them together the roles and expectations can be made by both parties and progress can be accomplished. In order to make progress both parties will need to be able to compromise and be willing to understand each other’s concerns and priorities. Refreneces : Brickley, J.A., Smith, C.W. & Zimmerman J.L. (2009). Managerial economics and organizational architecture (5th Ed.). New York: McGraw-Hill Irw

Equity Warrant Bonds Essay

Equity warrant bonds are bonds issued with equity warrants attached. Warrants are similar to share options, and give their holder the right but not the obligation to subscribe for a fixed quantity of equity stocks in the company at a future date, and at a fixed subscription price (exercise price). When bonds are issued with warrants, the warrants are detachable and can be sold in the stock market separately from the bonds. Investors might therefore subscribe to an issue of equity warrant bonds, hold the bonds to maturity (as a long-term investment) and sell the warrants in the stock market fairly soon after purchase. Equity warrant bonds are unsecured, and offer a lower coupon rate of interest than similar straight bonds issued at the same time and for the same maturity. In these respects, they are similar to convertible bonds. A feature of equity warrant bonds is that if the warrants are exercised, the money obtained from issuing the new stocks can be used to help redeem the bonds. The debt capital therefore will be replaced, in part at least, by new equity. Equity warrant bonds were used extensively in 1988–89 by Japanese companies to raise capital in the euro convertibles market. Most had a five-year term, with the warrants exercisable at maturity of the bonds. Following the start of the collapse in Japanese share prices in 1989, the warrants linked to the bond issues became worthless because they had an exercise price well above the current share price. When some of these equity warrant bond issues matured in the mid-1990s, cash had to be found to redeem the bonds. Because share prices were then quite low, some of the companies were able to issue new equity warrant bonds. The cash from the new bond issues was used to redeem the maturing debt. Since the collapse of the late 1980s, equity warrant bonds have not regained their popularity. In the late 1990s they have had limited, specialist appeal, notably in Germany and Switzerland. Another development specific to the late 1990s is the rise of the exchangeable market. These are bonds that the issuer redeems in another company’s stocks, often allowing it to divest non-core stockholdings. In France and Japan, for instance, a large proportion of stocks in companies are held by other companies, rather than by insurance or pension funds. Derivatives can be a better way of rationalizing such corporate cross-holdings than selling them in the market. Interest on convertible bonds and equity warrant bonds is usually an allowable charge for tax purposes, so that their after-tax cost to the company is lower than the gross yield to investors. Dividends on preferred stocks, on the other hand, are not an allowable expense for tax purposes.

Do Insects Hibernate in the Winter

Do Insects Hibernate in the Winter An insect doesn’t have the benefit of body fat, like bears and groundhogs, to survive freezing temperatures and keep internal fluids from turning to ice. Like all ectotherms, insects need a way to cope with fluctuating temperatures in their environment. But do insects hibernate? In a very general sense, hibernation refers to the state in which animals pass the winter.1 Hibernation suggests the animal is in a dormant state, with its metabolism slowed and reproduction paused. Insects dont necessarily hibernate the way warm-blooded animals do. But because the availability of host plants and food sources are limited during the winter in cold regions, insects do suspend their usual activities and enter a dormant state. So how do insects survive the cold winter months? Different insects use different strategies to avoid freezing to death when the temperature falls. Some insects employ a combination of strategies to survive the winter. Migration When it gets cold, leave! Some insects head to warmer climes, or at least better conditions, when winter weather approaches. The most famous migrating insect is the monarch butterfly. Monarchs in the eastern U.S. and Canada fly up to 2,000 miles to spend their winter in Mexico. Many other butterflies and moths also migrate seasonally, including the gulf fritillary, the painted lady, the black cutworm, and fall armyworm. Common green darners, dragonflies that inhabit ponds and lakes as far north as Canada, migrate as well. Communal Living When it gets cold, huddle up! There’s warmth in numbers for some insects. Honey bees cluster together as the temperatures drop, and use their collective body heat to keep themselves and the brood warm. Ants and termites head below the frost line, where their large numbers and stored food keep them comfortable until spring arrives. Several insects are known for their cool weather aggregations. Convergent lady beetles, for example, gather en masse on rocks or branches during spells of cold weather. Indoor Living When it gets cold, move inside! Much to the displeasure of homeowners, some insects seek shelter in the warmth of human dwellings when winter approaches. Each fall, peoples houses are invaded by box elder bugs, Asian multicolored lady beetles, brown marmorated stink bugs, and others. While these insects rarely cause damage indoors – theyre just looking for a cozy place to wait out the winter – they may release foul-smelling substances when threatened by a homeowner trying to evict them. Torpor When it gets cold, stay still! Certain insects, particularly ones that live in higher altitudes or near the Earth’s poles, use a state of torpor to survive drops in temperature. Torpor is a temporary state of suspension or sleep, during which the insect is completely immobile. The New Zealand weta, for example, is a flightless cricket that lives in high altitudes. When temperatures drop in the evening, the cricket freezes solid. As daylight warms the weta, it comes out of the torpid state and resumes activity. Diapause When it gets cold, rest! Unlike torpor, diapause is a long-term state of suspension. Diapause synchronizes the insect’s life cycle with seasonal changes in its environment, including winter conditions. Put simply, if it’s too cold to fly and there’s nothing to eat, you might as well take a break (or pause). Insect diapause may occur in any stage of development: Eggs – Praying mantids survive the winter as eggs, which emerge in spring.Larvae – Woolly bear caterpillars curl up in thick layers of leaf litter for winter. In spring, they spin their cocoons.Pupa – Black swallowtails spend winter as chrysalids, emerging as butterflies when warm weather returns.Adults – Mourning cloak butterflies hibernate as adults for the winter, tucking themselves behind loose bark or in tree cavities. Antifreeze When it gets cold, lower your freezing point! Many insects prepare for the cold by making their own antifreeze. During the fall, insects produce glycerol, which increases in the hemolymph. Glycerol gives the insect body â€Å"supercooling† ability, allowing body fluids to drop below freezing points without causing ice damage. Glycerol also lowers the freezing point, making insects more cold-tolerant, and protects tissues and cells from damage during icy conditions in the environment. In spring, glycerol levels drop again. References 1 Definition from Hibernation, by Richard E. Lee, Jr., Miami University of Ohio. Encyclopedia of Insects, 2nd edition, edited by Vincent H. Resh and Ring T. Carde.

Make Baking Soda Stalactites and Stalagmites

Make Baking Soda Stalactites and Stalagmites Stalactites and stalagmites are large crystals which grow in caves. Stalactites grow down from the ceiling, while stalagmites grow up from the ground. The worlds largest stalagmite is 32.6 meters long, located in a cave in Slovakia. Make your own stalagmites and stalactites using baking soda. Its an easy, non-toxic crystal project. Your crystals wont be as big as the Slovakian stalagmite, but they will only take a week to form, instead of thousands of years! Baking Soda Stalactite Stalagmite Materials 2 glasses or jars1 plate or saucer1 Spoon2 Paper ClipsHot Tap WaterPiece of Yarn, about a meter longBaking Soda (Sodium Bicarbonate)Food Coloring (optional) If you dont have baking soda, but you can substitute a different crystal-growing ingredient, such as sugar or salt. If you want your crystals to be colored, add some food coloring to your solutions. You might even try adding two different colors to the different containers, just to see what you get. Grow Stalactites and Stalagmites Fold your yarn in half. Fold it in half again and twist it together tightly. My yarn is colored acrylic yarn, but ideally, you want a more porous natural material, such as cotton or wool. Uncolored yarn would be preferable if you are coloring your crystals, since many types of yarn bleed their colors when wet.Attach a paper clip to either end of your twisted yarn. The paper clip will be used to hold the ends of the yarn in your liquid while the crystals are growing.​Set a glass or jar on either side of a small plate.​Insert the ends of the yarn, with the paper clips, in the glasses. Position the glasses so that there is a slight dip (catenary) in the yarn over the plate.Make a saturated baking soda solution (or sugar or whatever). Do this by stirring baking soda into hot tap water until you get so much added that it stops dissolving. Add food coloring, if desired. Pour some of this saturated solution into each jar. You may wish to wet the string to start the stalagmite/ stalactite formation process. If you have leftover solution, keep it in a closed container and add it to the jars when needed. At first, you may need to keep an eye on your saucer and dump liquid back into one jar or another. If your solution is really concentrated, this will be less of a problem. Crystals will start to appear on the string in a couple of days, with stalactites growing down from the yarn toward the saucer in about a week and stalagmites growing up from the saucer toward the string somewhat later. If you need to add more solution to your jars, be sure that it is saturated, or else you will risk dissolving some of your present crystals. The crystals in the photos are my baking soda crystals after three days. As you can see, crystals will grow from the sides of the yarn before they develop stalactites. After this point, I started to get good downward growth, which eventually connected to the plate and grew up. Depending on the temperature and rate of evaporation, your crystals will take more or less time to develop.

Macroeconomics coursework Example | Topics and Well Written Essays - 1500 words

Macroeconomics - Coursework Example (6 marks) c)First-order conditions: Uc(C , l) – l = 0 Ul(C , l) – lzFN(K , h – l) = 0 zF(K , h – l) – G – C = 0 When the first two conditions arcombined Hence, in equilibrium MRTl,C = MRSl,C = w Which states that the Pareto optimum is the point where the indifference curve is tangent to the PPF? d) What happens to consumption, wages and output as G increases? (6 marks) After the increase in g = G/Y, the model can be able to predict a decrease in (c, w), increase in (Y,N, r), spending of Private consumption is â€Å"crowded out† by government spending increase. Output increases but welfare loss as both c, l fall.T (Besada and, Miras (2002) Question 2) a) Solve for labor supply as a function of t. (6 marks) Since w = z, we obtain the system Ul(C , l) – z(1 – t)Uc(C , l) = 0 C + G – z(h – l) = 0 Totally differentiating these gives [Ucl – z(1 – t)Ucc]dC + [Ull – z(1 – t)Ucl]dl  œ zUcdt = 0 dC + zdl + dG = 0 We had 2 equations from the previous sections: C = w(1 – t)(h – l) (1) C = z(h – l) – G (2) By substitution, we will have G = zt(h – l) It indicates the total spending by the government that equals total tax revenue. b) Sketch the Laffer curve for values of t from 0 to 1. (4 marks) Laffer curve c) What is the equation for t that maximizes tax revenue G? Either graphically or by other means, find this value numerically. (6 marks) The equation is as below; G = tz[h – l(t)] Basing on the curve above, the tax revenue is zero if t = 0 and t = 1 Therefore the numerical value is 0.5 Government maximizes tax revenue at t = t*. REV = REV* d) If G=0.2, find (either graphically or otherwise) the two values of l and t that satisfy this requirement. (4 marks) If G=2 then l and t is as below Question 3) Calculate the % year-to-year growth rates in each series, and graph them using a time series plot and a scatter plot (4 mark s) Scatter plot Time series (b) Are they positively or negatively correlated? (3 marks) They are positively correlated c) Does one lead the other? (3 marks) Basing on the graphs it is evident that one leads to the other d) Do the same using quarterly GDP and quarterly M2. Is there any consistency between M2-IIP and M2-GDP? Explain. (10 marks) Scatter plot Time series Basing on the graphs, there is no consistency between the two. This is because there is no correlation and one doesn’t lead to the other and the range or interval between one value is to small. Question 4) (a) Draw the consumer’s budget constraint, and show the optimal choice of consumption and leisure. Is it possible that the consumer may only choose an income of X? (8 marks) Consumer budget constraint The equality above holds at point H where the curve of indifference is tangent to the budget constraint and it is not possible for the consumer to choose an income of X b) What happens when the threshold va lue X decreases, explaining in terms of income and substitution effects; consider the cases of (i) someone whose income was initially below X and (ii) someone whose income was initially above X. (12 marks) When the value of X threshold decrease the impact is for example marginal substitution rate diminishes over time due to there is a diminishing marginal utility principle (Becker, 1965). Question 5) (a) Show how an increase in such government spending