Noninvasive Magnetic Resonance Imaging (MRI) Guided Focused Ultrasound (FUS) Treatment for Breast Cancer

Magnetic resonance imaging guided focused ultrasound is completely noninvasive treatment for breast cancer which requires less anesthesia, recovery time and could avoid infections, scar formation and possibly reduce cost. It is the method of choice for accurate delimitation of many breast tumors, it can noninvasively measure ultrasound induced temperature. The combination of MRI and FUS concurrently allow the delineation of tumors margins (American cancer society). The MRI guided FUS system consist of a supply of unit for radio frequency conditioning, driving hydraulics, the cooling and fluidic system, MR- compatible ,ultrasound applicator, comprising a therapeutic ultra sound transducer with a hydraulically driven positioning system and coil for MRI within the MR- scanner and computer for therapy planning , MRI –based temperature monitoring and MRI. The MRI guided FUS objective is to compute an optimize beam pattern that covers the targeted area in such a way that the multiple focal ultrasound volumes are packed till the whole target volume are treated (American cancer society).Dying of Breast Cancer in the 1800s According to American cancer journal 1931-1940, during the MRI planning and FUS therapy, the breast is placed on the transparent window surrounded by the MRI coil. To optimize the ultrasound beam angle, the sonication window is adjusted around the vertical axis through the center of the breast. Acoustic coupling is mediated by ultrasound jelly and water. The ultrasound wave are focused through the intact skin and resulted in the localized tissue ablation at a maximum temperature of 70 degree centigrade (www. cancer . org). Thus, nurses should teach the patient that MRI guided FUS therapy is safe and effective, with no side effect. It reduces the chance of anesthesia usage, infection, scar formation, recovery time and it is also very cheap. Effective teaching about the therapy will reduce agitation, depression, fear and signs and symptoms. As nurses we should also emotionally support these patients, this will give them more hope and strength to fight this ill disease. References : Noninvasive of Breast Cancer Therapy, the journal of Cancer Research (1916-30), the American journal of cancer (1931-40). Retrieve from http://www. cancer . org American Cancer Society, Retrieve from http://www. cancer . org

Hrm Practice in Banking Sector

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

Evaluating the Socio Economic Impact of the Structural Adjustment Program Essay

These have left most SSA countries with acute balance of payments (BOP) disequilibria and an inability to service their debts to foreign bodies. In an effort to tackle the economic crises and to stimulate economic recovery, most African countries had to adjust and re-structure their economies. According to Dasgupta (1998), structural adjustment was seen as a fact of life. Thus in the 1980s, most African countries initiated economic policies which were sponsored by the World Bank and supplemented by the International Monetary Fund(IMF) in the form of stabilisation and structural adjustment programmes (SAP). Between June 1986 and July 1987 alone twenty one SSA countries went through World Bank/IMF SAP. Generally, SAPs entail policies designed by the world Bank/IMF aimed at improving the socioeconomic conditions of implementing nations by restoring economic stability and achieving long term growth through addressing structural weakness, and disequilibria in among others government budgets and external sector. More precisely, they involve the adoption and implementation of policies such as currency devaluation, trade liberalization, privatization, and removal of subsidies etc. hich are perceived as means of reversing the pervasive social and economic problems of developing nations. There has been a considerable amount of literature on the effects of SAP measures on less developed countries (LDCs) with no apparent consensus. On the one hand, international financial institutions (IFIs) maintain that SAPs are vital tools for economic recovery and sustainable economic growth. On the other hand , many economists and social scientists argue that SAP measures have led to recessions and poor standards of living in developing countries (Jauch 1999). Thus, the impacts of SAPs remain highly controversial. Even though there are disparities as to the exact effects of SAPs, it is generally accepted that they have far reaching implications for not only the macroeconomic environment of the countries concerned but society at large (Mosley and Weeks, 1993, Riddle, 1992, Stein, 1992, El-Tom, 1994, World Bank, 1994). It is against this background that this dissertation attempts to study and analyse the effects of SAP on the Nigerian economy. The choice of Nigeria as a case study is due to the fact that it has implemented one of the most radical structural adjustment programmes in Africa. Thus the question which posed is, what impact if any has SAP had on the Nigerian economy. Before we proceed, it should be emphasised that this dissertation subsumes IMF stabilisation programmes under World Bank structural adjustment programmes. The reason for this is that the two programmes are intertwined and this is done also for simplicity. . 2 Aims and Objectives This paper aims to explore the role SAP has played in the Nigerian economy. The major objective of the project is to offer a better understanding as to why, what and how structural adjustment program in Nigeria evolved. The primary focal point is to inspect the basis for and causes of the reforms, formulation and implementation processes, and the reform outcomes. The precise objectives of the dissertation are as follows: First, to provide a better understanding of the backgr ound to the economic crises in Nigeria that led to SAP * Second, to outline the objectives of SAP and the reforms implemented by the Nigerian government * Third, to analyse the macroeconomic and social consequences of implementing SAP in Nigeria 1. 3 Methodology and data To evaluate the effects of SAP on the Nigerian economy, the dissertation applies so-called ‘before-after approach’ which in its essence compares the values of selected variables in the period before a program is implemented to those of post-implementation. This approach has been one of the most widely used when evaluating SAP. One of the main advantages of the approach is that it can give an insight into whether structural adjustment improved key economic indicators. The major shortcoming of the methodology employed in this paper is that it assumes that all outcomes are the result of the programme itself and thus does not take into account the impacts of others factors. Another limitation is that it does not reveal the causes of variable changes. However, in spite of the fact that the before-after approach may have some degree of bias as an estimation procedure, it nevertheless, has inherent objectivity and is relatively easy to employ. The dissertation relies on secondary data – mainly World Development Indicators. In addition, various government publications are utilised. In the case of Nigeria, the lack of data and the quality of data available had a major constraint on the study. The data were often found to be unavailable and there were discrepancies in the different data sources.

It is often said that a country's corporate legal framework is a Essay

It is often said that a country's corporate legal framework is a reflection of its socio-economic and political values. To wha - Essay Example In this case, corporate governance may favour certain people because they can afford to pay hefty bribes to government officials. Comparing corporate governance in the developed and developing countries, the former are accountable but the later are not. Digging deeper into the political and social-economic situations, people in the developing countries face unprecedented oppression from the very government they choose. It is therefore evident the corporate legal framework of a country reflect its social economic and political values. History of corporate governance Interest in corporate governance started after the Wall Street crash of 1929. Edwin Dodd, and Gardiner C and Adolf Augustus Berle, Jr. Gor very concerned with the Wall Street crash. These scholars were wondered the changes to introduce to modern corporations to protect the stakeholders and the employees. Another scholar, Ronald Coarse from the University of Chicago tried to understand how corporations operated. The main wa s to introduce measures to prevent corporation collapse.1 However, these concerned scholars could not do anything to change the corporations of the time. The American government introduced a set of rules but did nothing much at that time. After the world war two, a class of scholars in management, business and organizational behaviour continued studying modern corporations to come up with ways to make them better and accountable. At that time, some corporations in United States, United Kingdom and other developed countries started establishing branches in other countries. This made the companies complex in that accountability would become challenging. Like before, the scholars in the third quarter of the twentieth century did not do much regarding corporate governance.2 Corporate governance got the attention of the government and the public in the 1990s. In early 1990s, boards of large companies dismissed Chief Executive Officers. Some of the companies involved were Kodak, IBM and H oneywell. Around the same time, it emerged that companies were not accountable in any way. There was a belief that Chief Executive Officers had good relationships with the board of directors. As such, each of the two covered the other in the times of accountability. Emergence of these issues led to a wave of activism, initiated in California by the California Public Employees Retirement system (calPERS). The primary concern for this organization was stakeholders’ protection. The campaigns were making sense but the government did not do much regarding the case. However, this outcry made the government to be more cautious with corporations.3 In the United Kingdom, Steps towards corporate governance started in 1992 when the Financial Reporting Council set up a committee chaired by Sir Adrian Cadbury. The report recommended many things in relation to corporate governance. Some of the recommendations gained acceptance from the beginning but others got amendments along the way. The amendment of the company executives’ compensation clause in 1995 is a good example. Another report on corporate governance came up after the Hampell Report in 1998. Hampell reported evaluated the Cadbury and Greenburg reports and provide recommendations.4 Action on corporate governance became a serious issue in The United States in the early 21st century. Enron and WorldCom became bankrupt and other major companies including Tyco, Arthur Andersen, AOL, Global

Week 4 discussion 1 and 2 Essay Example | Topics and Well Written Essays - 250 words

Week 4 discussion 1 and 2 - Essay Example Freud’s theory asserts that crime is an act that is affected by mental disorder, which causes a conflict between the id, ego and superego, or it may result from an incorrect recording in one of the stages in development. The mental disorder is usually manifested as behavioural problems like social passivity or full aggression. The theory believes that criminal activities committed by individuals are due to personality defect that were affected and disrupted by lack of progressions during childhood developmental stage. A pointing example is that, a boy who commit crime were twice more likely to have experienced severe punishments from their parents. Another study done on juvenile offenders showed that young offenders who were separated from their natural mothers were prone to delinquency in their adolescence stage. Such a study asserts that the association between a child in his/her tender age and their primary caregiver forms the baseline for personality and development in their moral behaviours in adulthood. Defence mechanism as discussed by Freud has an influence in the development of criminal behaviour. For example, in a defence mechanism like displacement; an individual who gets frustrations from their employer may displace the hunger back to children at home by beating or verbally abusive. In addition, his action can lead to misdemeanour like maim which is an offence. However, some defence mechanism like sublimation may prevent an individual from committing an offence. For example, an aggressive person who feels like killing people can go and work in an animal slaughterhouse and slaughter animals rather than kill human beings (Gedo, 2002). Freud theory has some pros and cons. On the pros, the theory provides an insight as to why an individual is involved in criminal activity, and this can be used by a defence counsel in court to seek for the reduction of charges against an accused. However, the

Compare multiple stories Essay Example | Topics and Well Written Essays - 750 words

Compare multiple stories - Essay Example To begin with, the story Romeo and Juliet was a literary masterpiece which detailed the power of love in the society. The overriding theme and line of thought was the fact that the love that Romeo and Juliet shares was so strong that any other thing in their life did not matter. As much as there is rejection and strong opposition due to the family differences between Romeo and Juliet, the story reiterates that it is the power of love which concurs all. In principle, this story highlights and brings to the front the aspect and issue of the strength of the affection and love that two people share. Comparatively, the story Othello by the same author brings to the gore the issues of the power of love and how rejection or family and social status could be a barrier. It articulates the principle that in the human society, there are things that rarely change such as a person from a wealthy or influential family is expected to just interact and marry from the same class. For instance, Othello courts and dare Desdemona, who was the daughter of Brabantio who was an influential leader in the country. Othello on the hand was just a military commander in the army and by extension he was a worker or servant in of the family of Desdemona. Later on, the other people try to interfere in their love by scheming and putting stain in the relationship or the love affair of Othello and Desdemona. They include Iago and Roderigo who also confirms to have romantic feelings for Desdemona. As the play proceeds, they hatch a plan to instill jealousy and fury in the approaches of Othello through manipul ations and betrayals. At the tail end, the love intrigues and pain bring to the light good reasons to make Othello to kill himself. Comparatively, these two stories all end with tragedies which are occasioned by the hard feelings of sour love and betrayals.

Why are Chinese factories turning to Bangladesh Essay

Why are Chinese factories turning to Bangladesh - Essay Example This scenario has been a major instigator for business organisations in China to look forward to better and more convenient option especially for manufacturing purposes in a foreign destination. China, in recent years, has been regarded as one of the fastest developing economies in the world. One of the key reasons behind the continued and sustained growth of the Chinese economy has been industrial growth (World Bank Office, Beijing, â€Å"China Quarterly Update†). However, in recent years the Chinese economy has witnessed a noticeable slowdown. The volatile world economic environment as well as rigid domestic polices have the combined factors that have contributed towards this scenario (World Bank Office, Beijing, â€Å"China Quarterly Update†). Thus, in order to mitigate this problem the Chinese factories or manufacturers have started to look beyond their own shores to import products. Consequently, Bangladesh has become a favourable option for them because it provide s efficient workers and comparatively lower wage rates. This strategy by Chinese manufacturers has been mainly prompted by the prevailing condition in their own market to manufacture products (Cawinfo, â€Å"Chinese Factories Turn to Bangladesh as Labour Costs Rise’). Thesis Statement The report intends to discuss the key reasons behind the Chinese factories turning to Bangladesh as a destination for especially importing products. The major driving forces of globalisation have also been considered in the report to comprehend the scenario. Globalisation as a Driving Force for Chinese Factories to Turning to Bangladesh The drivers of globalisation have been an imperative factor behind the Chinese manufacturers desiring to outsource their business in a foreign destination such as Bangladesh which majorly includes, open markets, International Trade Relation Policies, progress in transport and information technology, privatisation and liberalisation (A Global Ethic Now, â€Å"Dr iving Forces Behind Globalisation†). These key drivers that have encouraged the Chinese factories to turn to Bangladesh as a possible location for outsourcing are opening up of different national markets to all sorts of companies and removal of trade restrictions. However, in recent times, the one of the biggest problems which has been faced by Chinese manufacturers is the labour crisis. In China, a continued war in relation to labour rights has been a critical issue which has affected the industrial sector in recent times. The war has been engaged with a huge number of people who come under certain different categories of business world. The workers, trade unions, corporate, Non-Governmental Organisations (NGOs) and political parties in China are deeply engaged in this serious issue. It has resulted in an impact on worker privileges, wages, working environment in China. This battle is badly affecting the Chinese economic conditions. It has become a tough task for manufacturin g organisations to abstain from the intermediary cooperation among worker organisations and their allies to procreate a sustainable relation in between the justice related to economy and social activities. It is quite apparent that a host of challenges for worker and social movements are being created in the economy of China. The manufacturing industry which relies significantly upon the workers is facing major strife to deal with

Informal interview Research Paper Example | Topics and Well Written Essays - 750 words - 2

Informal interview - Research Paper Example Other things are providing enough training to employees for the work they do, ensuring friendly atmosphere, ensuring adequate recreation, making the employees feel trusted by giving them decision making power, rewarding in group avoiding discrimination, regular meetings, and most importantly no favoritism in the organization discoursing backdoor tactics. The Details of the Interview Interviewer : How long have you been on this job, Mr. Ralph? Mr. Ralph : Well, I have been in the company for ten years now. Interviewer : Could you please tell me what the job of an HR Professional involves? Mr. Ralph : Broadly speaking, it is about proper staffing and proper employee relations. Interviewer : Fine. Would you explain the responsibilities assigned to an HR Professional in common? Mr. Ralph : Sure, the most common ones are coordinating the hiring process of new recruits, arranging orientation for new employees, developing and explaining HR policies, answering the queries of employees, perfo rmance consulting, ensuring safety at workplace, maintaining employee relations and so on. In fact, the list is too long. Interviewer : That is a fairly good explanation MR. Ralph. Actually, what is the qualification required to apply for a post in HR, say, in your company? Mr. Ralph : Well, the minimum qualification, as I generally observe, is a Bachelors Degree in Human Resource Management and certainly, work experience makes one more effective in the job. Interviewer : Fine, what qualities, in your opinion, makes a person a successful HR Professional? Mr. Ralph : I think, the very first quality required for this job is good communication skills. In addition, the person should possess good public speaking skills and writing skills. Good analytical and problem-solving skills are vital for the profession. Interviewer : Could you please explain the secret behind a successful new employee orientation program? Mr. Ralph : Sure, it starts with a welcome letter to the selected candidates . You know, it makes them feel welcomed. Then the orientation starts with giving the new employees a detailed description of the company’s procedures, history, target and work rules in the very beginning. The orientation is a one week procedure in which employees get familiar with the whole organization and the expected role they have to play. Interviewer : Well, Mr. Ralph, How do you make a new employee feel at ease? Mr. Ralph : It is very important to provide the new recruits enough time to become familiar with the organization, chances for open interaction and discussion in the beginning, clearing fears and doubts, encouraging friendship and providing respect. Interviewer : What advice would you give to someone who is going to become an HR Professional? Mr. Ralph : All employees are human beings. This is the basic thing all HR people should remember. Interviewer : Thank you Mr. Ralph for sharing your knowledge with me. The opinion that HR is mainly aimed at the welfare of the employees is shared by Jackson and Mathis (12) who opine the role of HR is to act as an advocate for the employees ignoring the success of the business to satisfy the needs of the employees. However, there are issues to be taken care of while handling employee issues. First of all, as Dessler and Varkkey (582) point out, it is necessary for managers to be familiar state and local statutes while handling em

Research Critical Appraisal Article Paper Example | Topics and Well Written Essays - 750 words

Critical Appraisal Article - Research Paper Example Need for urgent treatment and trauma undermine initiatives for preserving fertility and little knowledge exists on perception of the patients and their decisions on fertility preservation following availed information. The clinical problem was therefore preservation of fertility among cancer patients, who are still in their reproductive age, prior to treatment. The research problem however, was lack of knowledge on perception of cancer among patients of the reproductive age, based on availed information, and use of fertility preservation techniques. This knowledge, among care providers and patients, can inform decisions on preservation of fertility (Peddie, Porter, Barbour, Culligan, MacDonald, King, Horn, and Bhattacharya, 2012). The author established significance of the study through identifying the target population, significance of reproduction to the population, and threat to reproduction due to uninformed decisions into cancer treatment, following diagnosis. Importance of reproduction to the society identifies significance of the problem to every individual who has understood the role of procreation and wish for personal fertility of that of a friend, relative, or an associate. Identification of existence of fertility preservation techniques that were still underutilized also established significance of the study to diagnosed cancer patients and those who have not been diagnosed with cancer because everyone is at risk. The purpose of the study was to expand the audience’s knowledge on factors that influence people’s decisions to preserve their fertility following cancer diagnosis and current application of available fertility preservation methods. The study aimed at developing knowledge on patients’ perception on and use of fertility preservation method and these relate to the research problem of lack of knowledge on patients’ perception on and application of the preservation techniques. The objective

Impact of Generation Y on Management Effectiveness in Organizations Thesis - 2

Impact of Generation Y on Management Effectiveness in Organizations - Thesis Example s huge dependence on technological factors that distinguish them from Generation X that is more inclined towards conservative forms of workplace ethics (Martin, 2001). In this regard, business experts are endeavoring nowadays to identify factors that are causing problems in the workplace and are putting efforts to propose solutions and alternatives that may reduce the gap between the two generations, and allow the management to achieve their organizational objectives. Due to such reasons, some of the major problems in this respect of attracting and recruiting Generation Y talent that is fast-paced and technologically efficient. In addition, due to conflicting workplace practices (Tulgan, 2009), a number of organizations are confronting problems in retaining and engaging Generation Y successfully due to lack of communication between the two generations. In the result, recruitment, engagement, and retaining of Generation Y have now become some of the major issues of the current decade that are revolving around the factors, such as generational boundaries, technology, cultural shifts, etc. In specific, the major purpose of the proposed research is to identify and analyze issues that employers confront while managing Generation Y in their workforce along with proposition of different strategies that will enable management in ensuring improvement in workforce’ performance. Besides the abovementioned main purpose, the researcher will be putting efforts to fulfill other objectives as follows: To achieve the objectives of the research study, a qualitative research analysis will be employed. A qualitative method is the best option because it entails in depth analysis of a social phenomenon. Literature review will be used in analyzing existing information on the topic of study .After reviewing the information, vital points will be collected, evaluated and analyzed to come up with the required information. The material to be reviewed will include the Internet from

Comparing and Contrasting General Systems Theories Research Paper

Comparing and Contrasting General Systems Theories - Research Paper Example Mainly, the organizations whose their basic parts are elements of diverse orientation usually differing with the environment they are meant to operate and the relationship which exists amid them. However, in the core operation of the system it may be almost the same but as the system upgrades, to assume its core purpose it changes its modeling explanation that may have diverse mathematical modeling (Shaw, 2009). Information Systems Theory (IST) prior to the current connotation was principally limited to computer science (Von Bertalanffy, 2008). This encompasses computer organizing information, which today the term â€Å"information† is more general and requires more expounding and keen elucidation. Since, each system despite its core role is information centered; processing it for more effective operations meant to fulfill its main value as a system. IST in its actual argument, it implies that system as symbol encapsulated with an idiom. An Idiom refers to an intangible concep t mainly formulated to simply explanations for system symbols and their links. This offers a conceptual link amid set theory plus algebra especially in mathematical explanation (Von Bertalanffy, 2008). ... here it underlies all other entities to enhance more communication, hence offering effective linkage and relations of the entities and the common information space (Skyttner, 2006). These entities interacts further yielding to more multifaceted permutations. For instance, English language an idiom that is a universal concept primarily participates in offering space for the creation of sentences words and other correlated tasks, which will enable the stated language, emerge effectively, thus making understanding better. In mathematics, there a theoretical idiom that allows for the formation of mathematical statements and it accomplishment, hence proving the universal character of an idiom (Von Bertalanffy, 2008). Systems’ thinking, which yielded from Ludwig’s scholarly leaps in 1930s, meant to serve in the WWII (Skyttner, 2006). This was especially in the logistics in ensuring effective attainment of exact soldiers’ population as the war proceeded. System thinking implies how diverse entities in a certain environment co-exist without any dictation from any part entity. It involves dilemma resolution, essentially by having wide perspective of â€Å"problems† as a whole system rather than definite part, results or tasks that may prompt to additional inadvertent consequences (Skyttner, 2006). This proves that system thinking cannot be singular, but set of numerous aspects. These mainly, comprise habits or practices, which make the co-existing entities, live harmoniously. Consequently, implying that the systems parts can best understood by observing or studying their relationships and interactions they poses, which expounds unmistakably their condition of information (Von Bertalanffy, 2008). System’s components also depicts information in the manner interact with

Strategy. The modern world-system Essay Example for Free

Strategy. The modern world-system Essay Strategy Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   A strategy is a carefully developed method or plan for the purpose of achieving a particular objective over a period of time. Therefore, in simple terms, a strategy is a plan. Strategies are always made prior to the action for which they are intended. In addition, they are developed in a conscious manner and with a definite purpose in mind. A strategy is meant for implementation in most cases. However, sometimes, a strategy may be intended to be a ploy. A strategy that is intended for implementationrequires proper evaluation with regard to the anticipated benefits. On the other hand, a ploy is a strategy that is only meant to scare the opponent away. Strategy is the only way out in the face of a struggle or a conflict between individuals or groups. The reason of developing a strategy is to make the strategizing group gain an advantage over the opponent and therefore emerge as the winner from the struggle. Knowledge of strategy is thus important. It helps us know how to get out of a struggle victoriously. This essay seeks to highlight the role of strategy in our existence.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are two forms of strategy. First, there is a strategy that is developed deliberately. Secondly, there is a strategy that emerges on its own from the environment. Let us look at the deliberate strategy first. This is developing a strategy with a clear aim in mind. This is where an individual or a group sits down and deliberates on the core issues that are of concern. Decisions are made carefully and all those involved agree on the common plan of action. The plan is rationally analyzed and its benefits weighed against the background of the intended action. Arrangements are made to enhance realization of the plan. The time frame is set. Necessary resources are put in place on time. All those who will be involved in the implementation of the plan are informed in advance. This kind of a strategy is suitable for instance when a business enterprise is intending to expand its territory and spread in other regions. In this instance, the manag ement is responsible for the when that expansion should happen, how it should happen, and who will be involved. The time to develop such a strategy is usually long enough to measure any risks involved. On the other hand, an emergent strategy is a strategy that did not have prior intentions. It is characterized by a pattern of actions that were not established as a plan but seems to work out as a set out plan. The actions are performed as a normal routine. There are no defined aspects like those in the deliberate strategy development such as setting aside resources for that purpose or when they will be realized.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   There are many reasons that may force an organization to develop new strategies. The most important one is competition from the organizations that are doing operations in the same way. An organization, for instance an industrial enterprise, will look into ways to defeat its competitors. Another reason that may prompt a change in plan is increased demand for the products or services provided by the organization. The organization will strive to make sure that it increases its productivity to meet the consumer needs fully. In addition, a need to create more branches of the organization may necessitate developing a strategy that is suitable. This will ensure that the managers of the organization become aware of the possible benefits and losses to anticipate should they embark on such expansion of the organization. Furthermore, an organization will be forced to go back to the drawing board to make new plans in the event of technological changes . This is because failure to plan and implement any necessary changes may impact the operations of the organization negatively. In the case of a business enterprise, the emergence of a new product in the market would certainly trigger development of a new strategy. This would entail how to acquire the new product in its stock and how to market it. Even employees in an organization have to make new plans on how to cope in the organization in case there are changes in the organization that affect them. In a nutshell, the concept of strategy is indispensable as long as the environment of the organization is dynamic.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In history, there many instances where developing a strategy was the only option for organizations to cope with the changing environment. A classic example of a struggle is one that happened in 1968 in Detroit as illustrated by Georgakas Surkin (1998). The struggle was between the blacks and the whites. Many blacks had been employed in the auto industries including Chrysler Corporation. As workers, the blacks were exploited extensively. They were assigned the hardest works. In addition, they were overworked so much. They were made to work overtime through into the night and even on Saturdays. Sometimes, they were even made to work on Sundays. These workers did not have a proper channel to air out their complaints. They could not even tell the supervisors. The only thing they did was to write letters to the management and waited to see whether their complaints would be addressed. They rarely were. Many organizations were set up to look into the welfare of the workers. An example is United Automobile Workers (UAW). Unfortunately, the majority of the officials in the organizations were whites. Therefore, they did nothing to alleviate the plight of the blacks. DRUM is an organization that came up with an aim to end racial discrimination against the blacks. The DRUM officials called for meetings that were attended by black workers in huge numbers. A strike was called for by the DRUM officials. Then, DRUM members presented their demands to the UAW officials. Later, they continued with the strike and went to present their demands to the Chrysler Corporation. Their strategy bore fruit because the UAW listened to their demands decided to help them. The success of the organization was that it made workers in the auto industries know their rights and fight for them without fear of intimidation. Revolutionary groups were created even by students in Universities, both the whites and the blacks.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another illustration of how strategy can help a group of people achieve their goals is how modern colonialism in the management is advanced. Had the colonialist not used tactics to colonize other nations, they would have faced resistance at the outset. Schwartz (2000) gives an account of the strategy that has been used by management to colonize the minds of the employees. The first thing that the colonists did was to establish an indirect rule. They targeted chiefs because they knew that the chiefs were part of the administrativemachinery. However, they realized that the chiefs had no control over the armed forces, taxation, and allocation of land or even appointing of new chiefs. However, they developed a strategy to employ the existing institutions of the country they wanted to colonize. They molded these institutions by means of creating laws and imposing taxes under the guidance of local administrative officers. They did this under the pretext of development. This was nevertheless a way of imposing an indirect rule. In the same way managers influence the minds of the employees in order for them to work harder. They are tricked to think that they are in control by changing words. For example, when employees are told to own the company, it is meant to refer to psychological ownership. Therefore, if the word â€Å"ownership† is used in this short form, it makes employees feel responsible for everything that happens in the company as if they were the real owners of the company. This is a good strategy used by the management. Historically, use of the word â€Å"development management† instead of â€Å"development administrative† enabled colonialists to establish their colonial administration.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Industrial enterprise also gives us another instance where strategy plays a significant role. Chandler (2003) notes that historically, industrial administrators rarely change their focus in their administrative work unless forced to do so by pressure from both the internal and the external environment. This was especially true with the American businesses which were the main focus of the study by Chandler (2003). The study revealed that most of the industrial enterprises had developed a strategy to decentralize all their operations. This has been achieved through setting up of multi-divisional structures that were independent from each other and from the central firm. Each division was accorded its own necessary personnel, funds, necessary facilities and other resources. Since each division is supposed to operate independently, it is mandated to view its problems as unique and its solutions should be genuine. They should not imitate each o ther. The executives in charge of each division were fully in charge of all the operations taking place there including the line of products or services offered and the financial reports. The reasons for the decentralization according to Chandler (2003) are worth mentioning. First, there was a need to expand the volume of activities. It was also important to set new plants and offices in different places tocater for the needs of the consumers. In addition, it was important to diversify in many lines of the business. Moreover, it was a strategy to overcome the negative impact of the changing economic atmosphere. With a diversified business which is also expanded, the administrators of such enterprises felt fully insulated against the bad economic state. Furthermore, it was a strategy to survive in the world of business competition.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Another illustration of success through the use of the principle of strategy is what happened to the concept of sovereigntysoon after the French Revolution. Initially, monarchs had defined the sovereignty in their own terms to suit their interests (Wallerstein, 2004). They referred to other people as subjects. Through struggle, the concept of sovereignty was focused on the people instead of the monarchs. Once the idea that the people were sovereign was accepted, the term â€Å"citizens† came into use. This term simply meant that all the people were equal and were subject to the same treatment. In addition, all were entitled to participate in decision making with regard to matters that concerned the state. In this respect, each person was recognized as important. However, for this recognition to happen there was an intense struggle between the state leadership and the movements created by the people. The state authority thought that they could suppress these movements. However, this was not to be. Strong movements came up that resisted the authority. One movement that is worth mentioning is the liberal movement. The liberals managed to solve the problem of class in the society. Their strategy was to promote education such that the educated were eligible to be promoted to full citizen’s rights. According to liberalism, those who had acquired higher education could be eligible in the leadership positions.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In conclusion, strategy is a principle that cannot be ignored in any struggle. As we have already seen, in a struggle, two or more parties are involved. They all employ different strategies against each other in order to take an advantage over each other. In the struggle, they employ the principle of the â€Å"survival for the fittest†. In order to demonstrate the strength to survive, each group will come up with varied plans that are aimed at giving it an edge over others. We have seen how employees in the automobile industry in Detroit managed to overcome the oppressions directed to them by the whites through strikes and demonstrations led by DRUM officials. We have also discussed how managers have invented methods of colonizing the minds of the employees in order to make them work effectively. They do this by the use of words that have an impact on the mind of the employee such as â€Å"ownership† instead of â€Å"psychol ogical ownership†. Moreover, we have seen how industrial enterprises in America have used the strategy of decentralization of their operations. This has greatly strengthened these enterprises. Liberal movement was able to solve the problem of social class in the society by use of the strategy of education. It is therefore clear that in such a dynamic world that is characterized with changes and struggles, the principle of strategy is indispensable. References Wallerstein, I. (2004). World-systems Analysis: An Introduction. New York: Duke University Press. Chandler, A. (2003). Strategy and structure. Washington, D.C.: Beard Books. Wallerstein, I. (2011). The modern world-system. Berkeley: University of California Press. Georgakas, D. and Surkin, M. (1998). Detroit, I do mind dying. Cambridge, Mass.: South End Press. Schwartz, H. (2000). States versus markets. Houndmills, Basingstoke, Hampshire: Palgrave. Source document