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The Foundations of People Management
For my HR assignment I have been asked to produce an essay on internal
and external accountability of an organisation. I will include an
organisation of my choice and explain whom it is accountable to,
including 3 of their external agencies and I will provide evidence to
support any claim that I make.
Accountability is accepted that individuals at different levels of
organisations are accountable to others; this is usually someone who
is at the highest stage of power. One or more individuals eventually
are responsible for its operations. This level of responsibility then
leads to the organisations accountability to individuals and groups
outside its borderline.
“A hierarchy and defined lines of authority lead to clear
accountability and responsibility” Business Studies.
An example of this could be a store manager of a supermarket, he / she
is accountable to the department managers, and the department managers
are accountable to their employee’s etc. Managers need to involve
employees to set clear, challenging yet attainable goals and
objectives, and give them the authority to complete those goals; they
also need to support employees in all aspects of their job, while
monitoring their progress, and giving them feed back. If they need
training the manager must provide it to enable the employee to carry
out the job correctly.
Managers must also recognize employees for good performance, both
formally and informally.
“Accountability is the obligation of a subordinate to report back on
their discharge of the responsibilities, which they have undertaken”
Organisational Behav...
... middle of paper ...
... addition to accrued and unpaid interest. Then again the other holders
of the debt may put the debt back to the company at any time, so
therefore these issuances have been classed as a current liability.
Bibliography
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Book Sources
Crawford, Dr, R, B (2002) HR100 Participants Pack
Huczynski, A. Buchanan, D. (2001) Organisational Behaviour: An
introductory Text, 4th Edition. London: Prentice – Hall.
Marcouse, I., Gillespie, A., Martin, B., Surridge, M., Wall, N. (1999)
Business Studies Hadder and Stoughton
Stoner, J, A. F., James, A, F. Management 6th Edition. London:
Prentice Hall
Watson, T. (1995) Sociology, Work and Industry. London
Internet Sources
www.walmart.com - Annual Report
www.bbc.co.uk BBC News -The secrets of Wal-Mart’s success. Monday,
June 14th, 1999
Thirdly, serial borrowing and repurchase throughout several years is considered. This is essentially the financial policy the company has adopted these years. This policy is less risky measured by coverage ratios and is more acceptable to stockholders. However, UST has imminent challenges and value enhancing objectives to meet. If the company has debt capacity untapped upon, large sum repurchases avoid excessive advisory fee, negotiation time and effort, potentially credit rating charge while immediate significant tax shield benefit is made possible.
The trustees have reduced the organization to the extent necessary for the settlement of the bankruptcy. The loan portfolio in the Netherlands is not sold and therefore, all services of the bank have continued since the bankruptcy, except that the bank does not advise, close new contracts or initiate new loans, nor offer pay services. Company A currently loans more than €5 billion, of which €2 billion is securitized, to over 100.000 customers. There are still approximately 100 employees active for the bank. The interest repayments which Company A receives on the loan portfolio are used to pay costs and remittances to organizations who manages the securitizations and pledgees. What remains is be paid to creditors. To date, the trustees have paid out 74% to creditors. No additional distributors are expected for the coming five years. Each quarter, the trustees report on their activities. The trustees also publish an annual financial report each subsequent
In “Bank Debt” alternative, a sum of $3.5 million will be injected to the company through bank loans. However, the company will have to pay an additional amount of $33,750 in interest and a principal payment of $300,000 to the bank annually over the course of 7 years. Net income will come to $489,187.50 and EPS will be 0.49.
In the 1980’s, the birth of a new concept called ‘Human Resource Management’ was born. This trend comes after an intense period of Taylorisation, Fordism and now, McDonaldisation. HRM came to counter balance these trends and to consider the concept of the Man as a Man and not as a machine. For the last several decades, the interests of companies in "strategic management" have increased in a noteworthy way. This interest in strategic management has resulted in various organizational functions becoming more concerned with their role in the strategic management process. The Human Resource Management (HRM) field has sought to become integrated into the strategic management process through the development of a new discipline referred to as Strategic Resource Management (SHRM). In current literature, the difference between SHRM and HRM is often unclear because of the interconnections linking SHRM to HRM. However, the concepts are slightly different. Thus, we can ask, what is strategic human resource management? What are the main theories and how do they work? What do they take into account and how are they integrated? What are the links between SHRM and organization strategy? In order to answer to these questions, we will precisely define strategic human resource management, followed by a look at the different approaches built by theorists, and finally, we will see the limits between the models and their applications depending on the company’s environment. Discussion Strategic Human Resource Management: definition Strategic human resource management involves the military word ‘strategy’ which is defined by Child in 1972 as "a set of fundamental or critical choices about the ends and means of a business". To be simpler, a strategy is "a statement of what the organization wants to become, where it wants to go and, broadly, how it means to get there." Strategy involves three major key factors: competitive advantages (Porter, 1985; Barney, 1991), distinctive capabilities (Kay, 1999) and the strategic fit (Hofer & Schendel 1986). Strategies must be developed with a relevant purpose to sustain the organizational goals and aims. SHRM is one of the components of the organizational strategies used to sustain the business long-term. SHRM defined as: “all those activities affecting the behaviour of individuals in their efforts to formulate and implement the strategic needs of the business. (Schuler, 1992)” or as “the pattern of planned human resource deployments and activities intended to enable the firm to achieve its goals.
Human Resource Management is the management process of an organization's workforce, or human resources. It is responsible for the assessment, attraction, rewarding, selection, and training of employees, while also overseeing organizational culture and leadership and ensuring compliance with employment and labor laws ("Human resource management," 2014). Human Resources is the set of individuals who make up the workforce of a business sector, economy or an organization. There are five items on the strategic plan that are the responsibility of Human Resource Management:
There are many functions of Human Resource Management, one of the most integral parts revolves around the process of acquiring human capital and the methods used to retain, motivate, and compensate employees. There are many factors involved in the overall process, to include the following: a job analysis, recruitment and selection, hiring the best candidate, evaluating and compensating them appropriately. Each part of the process affects the other, from ensuring that you have an accurate job description to determining the appropriate level of compensation.
Human Resources in Business Human resources, or HR, is all about managing the people who are in. your business. They are as important as any other resource. You must recruit new workers, promote old workers and so on. a basic definition.
With all the news blasting us every day about the hard times that we are encountering in today 's economy, what types of unique challenges do you think these times pose for the human resources management professional in any organization, large or small business? As you prepare your Main Post, in answering, include at least one real-story that you find on the Web that illustrates some of the challenges that human resource managers are facing?
An organizational human resources department utilizes the hiring and firing process to meet the organization’s personnel needs. Organizational human resource departments are charged with the oversight of an organizations administration department. The practice of hiring and firing people is a process employer’s conducts on a daily basis. This process has to be done in a proper manner and not in haste. The implication that can occur from the improper hiring and firing process could and can have a positive or negative impact on an organization. Therefore, employers must carefully evaluate their decision to hire/fire individuals and its impact on the organizations’ workplace environment and others employees. Human Resource Management is important for an effective organization. In today’s organization, HRM is valuable to the organization because of increase legal complexities and its known for improvement in productivity. However, management should realize that poor human resource management could result in an outburst of hiring process followed by firing or layoffs. According to (Satterlee 2013, p. 194), “Hiring the best candidate who is also a good fit for the organization is crucial for the success of an organization, because a poor hiring decision will have repercussions across the entire organization”. Satterlee made a valid point because poor hiring could have an impact on the bottom line performance of the firm. In other words, HRM is the contributing factor to the success of the organization including motivating and maintain the staffs. The purpose to the motivation is to ensure that all employees grow to a full potential. According to (Sims 2006, p. 5), “HRM efforts are planned, systematic approaches to increasing organizati...
According to our textbook Human Resource Management (HRM) is the policies, practices, and systems that influence employees’ behavior, attitudes, and performance. “The human resources management process involves planning for, attracting, developing, and retaining employees as the HRM planning provides the rights kinds of people, in the right quantity, with the right skills, at the right time (Lussier, 2012, p. 240).” According to our textbook the typical responsibilities of the Human Resources department fall into three categories, and they are administrative services and transaction, which handle hiring employees. The second involves business partner services that focus on attracting, evolving, retaining employees by having a clear understanding
The Employment relationship is the only reason public and private limited organisations work effectively. The Employment relationship is a fragile tie between an employer “management” and employee “worker”. This relationship can be affected by 3 factors which are interests, control and motivation. Employers have to balance these factors in order to maintain a productive working relationship.
This secondary research project is on human resources in mines and how human resources is very important in a mine and in any business or company since it helps control and prevent conflicts that arise between management and miners, conflict like the Marikana incident that happened in 2012. Human Resources also assists the business or company in using resources in the most efficient way possible and this project will inform on the Human Resources functions or roles in a company or business.
Human resource is the most valuable and unique asset of an organization. The successful management of an organization’s human resource is an exciting, dynamic and challenging task , especially at a time when the world has become a global village and economies are in a state of flux. The lack of talented resource and the growing expectation of the modern day employee has further increased the difficulty of the human resource function.
Managers acquire the work of an organization or business by the proficient of subordinate employees. For that reason, managers at every single level of the business ought to be concerned with Human Resource Management (HRM), which is the utilization of personnel to accomplish organizational goals and purposes. A human resource manager is a person who in general performs in an advisory or staff capacity, functioning with other managers concerning human resource concerns. All human resource management operative areas are tremendously interconnected. Management must identify that resolutions in one area will affect other areas.
Human resource management consist of all the activities and intended decisions that will help to improve the effective of the human resource (employees) and of the enterprise as a whole. The importance and aim of the HR policy is to recognize the work performance of employees and the aim is to bridge the gap between management goals and the essentials of the workplace Human resource consultant is responsible for helping clients with strategically integrating effective human resource processes, they do this by daily operations with programs and practices. The other role for the HR is to maximize the client’s performance that will be relating to the human resource. For them to increase the performance they do this by coming up with new “best prices” products or services as well to provide feedback to clients regarding their performance related to annual management objectives. For them to complete this, the HR consultant may need to perform needs assessments or an official inspection of an organisation or corrective plan, and when required, organise and coordinate cross-functional Human Resource teams to assist the client with developing and implementing performance improvement corrective plans, programs or processes.