Author: kasi

Orientation Process Examples

An orientation process involves pre orientation preparation and orientation program.  Accountant In the pre orientation preparation Employee will be expected to bring their completed new-hire informational packages received either with their offer letter or upon their report-in processing. It would include different plans that when and how an orientation would be conducted. Orientation will be conducted in the first week after joining of the accountant. It will be made sure that new hire knows the different policies of the organization and understand the long term strategic vision and mission of the organization. A meeting will be organized with his team where he will be given briefing about his roles and responsibilities. Project Management A project manager is very critical for Jamaica consultancy because Mr. Robinson wants to expand and a project manager will help us to understand the feasibility of new projects. His orientation process would include meeting with all the staff members who are critical for the project. He will be given different statistics and data by the employees about the position of the organization and its financials. Business Research A business research manager is also important for Jamaica consultancy because now the business has expansion prospects and a manger needs to be there to understand the business and market positions beforehand. A business research manager would be able to understand the opportunities that a common employee cannot...

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Selection Process in an Organization

Selection Process Organizations compete fiercely in the war for talent. Many invest an enormous amount of money, time and other resources in advertising and recruiting strategies to attract the best candidates. This is because today’s executives understand that one of the most important resources in organizations, if not the most important, is human resources. (Pulakos) The first step in developing or selecting an assessment method for a given situation is to understand what the job requires employees to do and, in turn, what knowledge, skills and abilities (KSAs) individuals must possess in order to perform the job effectively. This is typically accomplished by conducting a job analysis. (Pulakos) Levels of Selection Process Three levels of selection process are attraction, selection and retention, however others claim preparation as the basic concept without which the process cannot be completed. These levels are explained below with the help of table: Step Test 1 Test 2 Preparation No test required No test required Attraction general mental ability tests job knowledge tests Selection Structured interviews situational judgment tests Retention integrity tests Physical ability tests Preparation It is the first step in the selection process. In preparation process Recruiting Manager needs to think about the job purpose, responsibilities and experience that the organization is looking for. (Roi, 31st July 2013) The recruiting manager also needs to consider if any changes need to be made to...

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Determine Compensation Components Using Maslow’s Hierarchy of Needs Model

Maslow’s Hierarchy of needs explains the stages in a person’s life, experienced at different times emotionally. If we analyze Maslow’s hierarchy in terms of compensation structure then the lowest level which covers physiological needs includes the basic rights of employees to work in a clean and healthy work environment where they have access to basic necessities of life like water, clean air to breathe etc. benefits other than salary do not fall in this category because they enable employees to achieve higher level of satisfaction then just fulfilling their physiological needs (Miller-Merrell, 2013). This need will be of utmost importance to 750 employees who are non management employees. they are paid less and for them meeting both ends matters. On the second level come safety needs where stable work environment comes with no fear of being laid off unfairly. Safe work environment also falls in this level where employees are given life insurance policies if their tasks involve some life endangering job. All benefits and conditions to ensure safe work environment are a part of fulfilling Maslow’s second level of need model like health care benefits, pension fund, retirement benefits, provident fund etc (Tanner). Then a person moves higher up the ladder and his sense of belongingness come into play. In this stage the relationships with co workers, peers, boss and subordinates are considered. A person looks for love...

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Impact of the disciplines of Psychology and Economics on Human Resource Management

In human resource management employees’ hiring, payroll, compensation and benefits and training all are managed in order to make a person a resourceful candidate for the company. These tasks are costly and when an employee leaves the company, the company not only loses a valuable employee but also the investment made by company to make that person more effective. Therefore when hiring decision is made termination costs are also considered and this might impacts the hiring process (Gunderson, 2001). In ENM production manager was terminated because he was providing no benefits to the company. Compensation and salary costs were incurred without him delivering his objectives. This analysis of cost vs benefit made Carnegie fire Miller. Not only had this he hired incompetent people, who were his relatives, in the company increasing fixed costs for the company without benefit. The economies of termination sometimes force employer to provide growth platforms and growth opportunities to employees like providing them with trainings and rotations in their desirable field. The high fixed costs associated with hiring permanent employees have encouraged employers to look for alternate solutions like contractual employees. The fixed costs also make companies force their employees to work for long and extended hours without being paid for overtime and describe commitment as a desirable employee characteristic, which in other words mean sitting late for work and not asking for vacations. The...

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The Sole Responsibility of the Corporation is to Make Profit

Businesses across the word are regarded as having a central purpose; to survive and grow. This objective of the organizations has been regarded as Friedman to represent the fundamental right of the corporations. The conclusion drawn from the analysis of corporate responsibility and survival was that “the sole responsibility of the corporation is to make profit” (Machan & Chesher, 2002, p. 13). However this perspective has been challenged by other scholars who regard it to offer limited insight into the interplay between corporate social responsibility and profitability of an organization (Primeaux & Stieber, 1994). This paper analyses the notion of making profit as a business responsibility using the related ethical principles. Furthermore, the paper addresses the Ethics and Organizational Responsibility Although the statement of Friedman reflects a somewhat self-interested approach of corporations, Machan and Chesher (2002) have indicated that in order to promote business growth, firms have to respond to the community needs. The increasing pressure on the organizations has created the need to move beyond the simplified version of corporate responsibility (i.e. profitability) and adopt a wider perspective towards socially responsible business. The following section presents three key arguments against the statement which asserts that businesses are only responsible for profit making. Stakeholder Theory and Business Responsibility Scholars have argued that organizations need to take the needs of different stakeholders into consideration (Trevino & Nelson, 2010). The statement...

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Pinto Fires Case Analysis

The concept of ethically responsible business is evident from the historical writings of Socrates and Confucius, however during the end of 20th century, business ethics has gained wide-scale acknowledgement as an important component of academic and corporate domains. There has been an increased emphasis on managers in organizations making decisions that reflected moral values (Bradburn, 2001). Businesses in today’s era increasingly rely on corporate social responsibility to create a positive image in the target market, which ultimately helps the organization to gain a stronger position. This paper is based on the case of Ford Pinto, offering a summary of the case study. Moreover, three key ethical issues presented in the case have been identified. Case Summary The case discusses the fatalities that had occurred due to the fault in the fuel tank of Ford Pinto. The designing of the vehicle and significantly increased the risk of rupture of fuel tank and the vehicle being engulfed by flames. There have been different cases where the passengers have been critically injured due to the accident and succumbed to the burn related injuries. The case has specifically discussed the accident in 1978, which involved Lynn Marie Ulrich, Donna Ulrich and Judy Ann who died as a result of their car being hit from behind and the fuel tank bursting into flames. Another incident included in the case occurred in 1972, involving Richard...

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Ethical Decision Making In Business

Ethical Decision Making Making good ethical decisions requires a trained sensitivity to ethical issues and a practiced method for exploring the ethical aspects of a decision and weighing the considerations that should impact our choice of a course of action. Having a method for ethical decision making is absolutely essential. When practiced regularly, the method becomes so familiar that we work through it automatically without consulting the specific steps. (Manuel Velasquez, 2015) Following are the steps that can help in reaching ethical decisions: 1.Recognize an Ethical Issue Recognizing an ethical issue requires you to ask some questions to yourself that is how it will affect the others. We may ask the question like could this decision or situation be damaging to someone or to some group or does this decision involve a choice between a good and bad alternative, or perhaps between two “goods” or between two “bads”. 2. Get the Facts This step involves taking different facts into consideration that might affect the decision or trying to gather unknown facts.e-g what are the relevant facts of the case or what facts are not known? What are the options for acting? Have all the relevant persons and groups been consulted? Have I identified creative options. 3. Evaluate Alternative Actions This step involves evaluating the different possible decisions that one might wants to take and then deciding at the best...

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Hedging with Examples

In today’s global economy, a finance manager may come across wide array of risks and challenges related to financial risks while working in some non-financial organization. These challenges are inherent in management of organizational financial matters in global economy of today. In today’s economy, there are many types of risks organizations may face like: – Operational inefficiency, Laws and regulations, Business environment, Repute of organization and financial risks. Financial risks usually attribute to financial operations of the business. It take different forms depending on the circumstances like, risk of financial loss, currency risks, financing risks, interest rate risks, credit risks, cash flow risks, liquidity risks ecectra. How significant these risks are for an organization varies widely from organization to organization. For example, an organization who has international operations is more exposed to currency risks relatively to a firm which operates domestic business. A financial institution will be more exposed to credit risks, relative to other non-financial organization. Hence, it varies from one organization to another. The disasters in financial risk management, multinational organizations came across in last fifteen years have highlighted the significance of risk management for good governance. It also triggered unwarranted attention towards internal control and governance. Over the period, managers of the companies have, by large, recognized the value addition, an effective financial risk management may ensure to the organization. The language of financial risk management...

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Responsiveness Concept in Psychology

Responsiveness Commencing with a very popular and commonly used definition of learning, ‘Learning is a relatively permanent behavioral change that occurs as the result of experience’, it is important to mention that there exists several types of learning that differ from one another, both in procedures and elements required to produce a response called learning. In order for us to understand the phenomena of learning, it is important to establish what factors are required for it to occur, not to occur, or to disappear- be extinguished.Our environment and everything that is a part of it is going under a constant change, in this regard changes in responsiveness to stimulus variations can occur in even the simplest organisms on a temporary basis, but these changes cannot be considered as learning. Changes in responsiveness include sensitization and habituation. • Sensitization is a process according to which the magnitude of responses to stimuli increases after repeated stimulus exposures. For example, after frequent system crash downs, a student becomes and alert and for the next time he recognizes any warnings or virus attacks in the system and immediately works something out to avoid another system crash, rather than ignoring it like all previous times. • On the other hand, one may be accustomed to a repeated stimulus or a change. For instance, an employee that once got really distracted and annoyed with the...

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Fast Fashion Global Supply Chain

Fast fashion is described as the products which are priced low, produced quickly and become obsolete even faster (Joy, 2012). Some of the major players of this industry include Zara, H&M and Gap. These fashion clothing brands have been known to introduce styles every season. The main reasons behind popularity of these brands are the affordability and style factors. These companies source their products from developing countries where cotton is grown in abundance and therefore textile industry can thrive due to abundance of raw material. Fast fashion is identified with quick replacements and low prices. People expect the styles to be cheap and affordable and therefore it is important for the retailers to manufacture goods in a way that they have to pay low labor costs, which is the most essential part of fast fashion supply chain. This business is labor intensive but luckily for the retailers that not very high skilled labor is required. This enable them to source their goods from countries which provide the services in low cost like developing countries of Asia, which are cotton rich and hold large number of uneducated people, willing to get employed at low rates. This handles two of their problems: cheap labor and raw material. (Mihm, June 2010) Fast fashion industry has oligopoly structure in which production is highly fragmented. (PANKAJ GHEMAWAT, JOSÉ LUIS NUENO, 2006). Fast fashion producers...

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