Labour Market Context - 11897 Words

4 The Labour Market Context of HRM Chapter Objectives †¢ To define internal and external labour markets †¢ To outline the role of HRM as the interface between an organisation and its labour markets †¢ To identify the changing labour market conditions under which contemporary organisations operate †¢ To critically evaluate the implications for HRM of the ‘knowledge economy’ †¢ To outline how labour market trends are impacting upon how organisations utilise labour and how HRM practices are driving labour market change †¢ To outline the various ways that firms can respond to different labour market conditions †¢ To outline the notion of organisational flexibility and how various forms of flexible working practices impact†¦show more content†¦The latter 90 04-Wilton-4081-CH-04.indd 90 HRM IN CONTEXT 25/08/2010 7:10:18 PM refers to a strategy of recruiting required labour from outside the firm as and when needed. A ‘make’ strategy is, therefore, internally-focused whilst a ‘buy’ strategy is externally-focused. The internal labour market The internal labour market refers to that which exists within a single organisation and represents its internal supply or stock of labour. In its broadest sense, the internal labour market is the mechanism by which existing employees are attributed particular roles within a firm. The specific characteristics of an organisation’s internal labour market are reflective of a number of HR policy emphases, for example, the level of investment in employee training and development, the availability of career development opportunities and the extent to which employee retention and job security are prioritised. Contextual factors, particularly the types of skills, knowledge and attributes required, also act to shape the ‘type’ of internal labour market that exists within a firm. Depending on its characteristics, an internal labour market can fulfil a number of functions for an organisation. For example, in seeking to retain employees the internal labour market can act as a source of motivation and contribute to aShow MoreRelatedThe Liberal State Essay1454 Words   |  6 Pagescontrol over labour than ever before. The thought of the neo-liberal state as one that is more disengaged in its political economy functioning is a lost one. The neo-liberal state has demonstrated expanding duality, prompting inaction in specific zones, (for example, sanctioning of social security for the workforce), and while at the same time facilitating capital so as to exhibit deliberate efforts in different areas. This perspective is unmistakable from the prevailing talk on labour legislationRead MoreAmerica, Europe And Asia Are Governed By Different Employment Laws And Policies1645 Words   |  7 PagesFirstly, one must note that the USA, Europe and Asia are governed by different employment laws and policies. These regulate the extent to which working-time flexibility can be accounted for or constrained. Thus, these institutional contexts can either allow employers to impose flexible time, and employees to request it; or it might constrain both parties’ ability, such that fixed shifts and minimum hours must be followed in a pre-determined manner (Sousa-Poza and Henneberger, 2002). Unlike, the Anglo-USRead MoreThe Impact Of Labour Flexibility On The International Management Of Human Resources1741 Words   |  7 Pagesimplications of labour flexibility on the international management of Human Resources. 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Acco rding to StandingRead MoreA Report On The Housekeeping Department1674 Words   |  7 PagesIntroduction Housekeeping department is an important part of each hotel, which related to the hotel reputation and quality of services. There is a high labour intensive in the hospitality sector. The housekeeping department has a high demand of the room attendant. This research will conduct with the personal housekeeping experience in Meriton Serviced apartments. The Meriton serviced apartments are belong to the Meriton group, which is the largest and leading residential developer in AustraliaRead MoreGlobalization and Industrial Relation: Quite Entry of Labour Standard1892 Words   |  8 PagesENTRY OF LABOUR STANDARD * M.VENKATALAKSHMI **S.KRISHNAKUMARI ABSTRACT To understand the range of Industrial Relation challenge that employers and their organizations are likely to face in Asia and pacific during the next decade, it is necessary to appreciate the current as well as historical factors which have shaped and are sharpening such relations in the region. The early ministerial of WTO invariably found the west demanding core labour standardsRead MoreHuman Resource Management: Flexible Labour2153 Words   |  9 Pagescurrent human resources management thinking, providing justification for recent developments in more flexible and variable working patterns. Its need arises from the following: The changing business environment- highly competitive global product markets, an increasingly rapid advancements in Information and Communication Technology (ICT) and increasing capital intensity of production. A changing social environment– for example, the increasing female participation ratio and the trend towards earlyRead MoreChild Labour in Bangladesh Industry9607 Words   |  39 Pagesshowing all the negative factors of the industrialization. Among those the child labour problem is the worst of its kind. Though In Bangladesh the unemployment rate is about 6.2 corer but in the labour force the child labour is very alarming. 8 % of children (5-14 years) in child labour (1999-2003) 10% of male children (5-14 years) in child labour (1999-2003) 5% of female children (5-14 years) in child labour (1999-2003) These are the situation according to UNICEF about the child labor positionRead MoreLabour Market Need 1234 Words   |  5 Pagesthese outcomes is a labour market need for migrant workers to fill jobs that indigenous workers reject (Fellini et al., 2007; Massey et al., 1998; Piore, 1979). However, this is not a spontaneous process and it is important to recognize the role played by labour market actors, particularly employers (or their agents) and the state (Bach, 2007; Rodriguez, 2004). Employers engage in active recruitment strategies to attract immigrant workers already in national labour markets or to recruit directlyRead MoreThe World Organizational And Industrial System Essay1701 Words   |  7 Pagesassociations which transformed in Labour Unions today with a view to stand as a body to serve as intermediary and examining body between workers relationship with organization. This paper therefore, takes a look at Labour Unions as industrial body mostly related to workers, with a view to conceptualize as a body; take an historical overview of the Labour Union, the significance of Labour Unions and critical examination of achievement of the body in the industrial context and challenges being encountered

Human Development - 2424 Words

Human Developement 1 Culture and society have profound influences on a child’s growth and development and are important considerations for early childhood teachers if they wish to better understand children and provide higher quality early childhood education and services to children and their families, (Te Whaariki, Ministry of Education, 1996). One particular example of the effect that culture and society can have on the growth and development of a child is child-rearing practices. Different cultural groups and societies have diverse styles of child-rearing practices which are uniquely influenced by a range of values, beliefs and dominate assumptions (Berk, 2003). A significant factor in view of child-rearing practices is the role†¦show more content†¦Thus there is a clear link between child rearing practices, child interactions and children developing a wide range of cognitive skills. Child rearing practices which include a lot of child involvement encourage a child’s explorati on, extend cognitive development and help to extend new skills (Zhou, Huang, Wang, Wang, Zhao, Yang and Yang, 2006). Many features of child rearing practices are not only dependent on the education of the caregivers, but also how the caregivers themselves have been raised. If caregivers were raised with an awareness of the value of nutritious meals they will be more likely to provided good nutrition to their children and help children reach optimal levels of physical growth (Berk, 2003) If caregivers value physical activity themselves, or participated in it regularly as a child, they will be more likely to provide an environment where a child can engage physically, such as a bike to ride, or sports equipment. This is all dependent 4 however, on such factors as the health of the parents and/or the level of household income which may be different from that experienced by the caregiver as a child. Even the most physically active caregivers may not be able to support the child to engage in sporting activities which require specific gear, fees, or costly trips to the local pools. If however child rearing practices encourage children even to engage in simple outside play, such as running, or climbing a tree aShow MoreRelatedThe Theories Of Human Development774 Words   |  4 PagesTheories of Human development are relevant and matter in the â€Å"real world†. In my clinical practice as a psychologist-in-training, I have found human development theories to be very useful in conceptualizing and understanding my client’s distress. I used theoretical frameworks that are based on theories of human development to guide my interventions in therapy. For example, as a brief psychodynamic clinician, I look to Fr eud’s theory of anxiety to understand how distress was developed for my clientsRead MoreAn Interview On Human Development2242 Words   |  9 PagesHuman development is a complex lifelong process that begins when a person is in the womb of their mother and it extends to their death. Every person moves through similar stages of life as they age and move from infancy, childhood, and adulthood. However, every person within this world has their own personal development with individuality, thought process, and life as they are exposed to different environmental experiences and biology. An interview was conducted with two different individuals thatRead MoreLanguage As An Important Part Of Human Development1419 Words   |  6 Pagesdefines language as â€Å"the method of human communication, either spoken or written, consisting of the use of words in a structured and conventional way†, however this statement is not completely correct. 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Candidate Number: 003047-0024 Table of Contents Title Page†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦1 Statement of Intent†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦3 Raw Data†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦5 Scatter Plot†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.6 Pearson’s product-moment correlation coefficient†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦7 Least Squares

Case Solution on Abrasm Company Free Essays

————————————————- A ————————————————- Case Study ————————————————- On ABRAMS COMPANY ————————————————- Of ————————————————- Management control System ————————————————- ————————————————- Presented to Presented by: ————————————————- DR B. A. Prajapati ModiRashmi S. We will write a custom essay sample on Case Solution on Abrasm Company or any similar topic only for you Order Now (24) ————————————————- MeghaniShital L. (20) ————————————————- Trada Lalit V. (60) ————————————————- RajdevBrijesh (46) ————————————————- Ozha Sandip (47) ————————————————- ————————————————- ————————————————- â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- ———————————————— Batch: 2010-12 ————————————————- ————————————————- ————————————————- ————————————————- About The company ————————————————- US company —————— ——————————- Manufacturing auto parts ————————————————- Selling in Domestic as well as foreign Market ————————————————- Most of the Products related with†¦. ———————————————— Automobiles ————————————————- Trucks Buses ————————————————- Farm Equipments —————————————— ——- Product Marketing Division ————————————————- Production Division: * ————————————————- Company works on Three Parts. 1. ————————————————- Ignition Parts 2. ————————————————- Transmission Parts. 3. ————————————————- Engine Parts. ————————————————- Marketing Division: * ————————————————- Selling Through two Department. 1. ————————————————- O. E. M. department. 2. ————————————————- A. M. department. ————————————————- EXHIBIT 1 ————————————————- Partial Organization Chart ————————â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- ————————————————- ————————————————- Inside Outside sales In 1992; * Total sales $500 million Inside sales (to AM div) – $100 million Outside Sales (to OEM)- $400 million * Ignition parts sales- $130million * Engine parts sales- $90million * Transmission parts sales – $100million * AM Division sales- $180 million ROI for the Manufacturing Plants * Each Plant has to meet targeted ROI. ROI = Budgeted Profit Actual beginning-of-the -year net assets Where Budgeted Profit =( Expected Revenue- allocated O/H- tax) Actual beginning-of-the-year net assets = total assets-current liabilities. Actual 1992 ROI computation- Rochester Plant Abrams company –Transmission PartsDivision ROCHESTER PLANT Profit ROI Statement,Dec 31,1992 Sales revenue†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦$124,866 COGS†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 73230 Gross Margin†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 51636 Operating expenses†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦.. 20792 Division Expenses assigned†¦.. 11340 corporate expenses assigned†¦. 3420 Profit before taxes†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 16084 Taxes Imputed†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4825 Profit†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $11259 * Net Assets Assigned as of January 1,1992 Total Assets: Cash receivable†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. $25000 Inventories †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 12875 Property, plant equipment at book value†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 86560 Total Assets †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 124435 Less: current liabilities†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 26135 Net Assets†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. $98300 ROI = Profit / Net Assets = $11259/ 98300 =11. 45% Suggestions to improve evaluation system: * ROI can be used combination with other performance measures-balanced set of long term/short term; financial/non-financial * EVA can be used instead of ROI. Marketing Strategies * Top Management consider OEM AM different. * Each parts? OEM sales have to meet an Annual Sales Revenue. * The OEM department have to†¦Ã¢â‚¬ ¦. 1. Minimize inventories. 2. Control cost. * AM has to concentrate on availability of Parts. Incentive compensation Plan Appropriate 50 line staff managers under plan. * Bonus given on basis of fixed formula. * Each participant get bonus on standard bonus point(SBP). * SBP based on hierarchical position. Standard dollar award per point (SDAP) = total of SBP of all participants total bonus pool amount Standard Bonus in $ = Standard Dollar ? S tandard Bonus Point Award per point. of Participant. if Actual Profit ^ 4% more than budgeted, Manager get 25% more standard bonus. Evaluation of incentive compensation plan: * The performance is measured by compare of actual profit and budget profit. All the measurement is associate with data, sometimes the performance will be influence by variance elements, such as, economic environment, the demand level, material price, cost of labor, and government policy, so the measurement need to improve in some areas. Suggestions: * The non-financial performance measurement system should be established. * The balanced scorecard is a good choice for company measure performance. With a good performance measurement system, the incentive compensation plan will be improved. Problems encountered with Management * Some dispute over transfer pricing. Bias with AM division on placing order of parts. * All divisions using too much inventories. Question- 1 Evaluate each of the concerns expressed by top management, if necessary, make recommendations appropriate to the circumstances described in the case. Ans-1 * Management has 3 main problems: 1. ROI Behavior. 2. Transfer Price disputes 3. Operational trouble shouting. Recommendations * Company should use EVA rather than ROI. * Company should control the investments separately using NPV and capital turnover measures. * Bonus should be based on the budgeted income level. * Company should change the TP method. It will give all internal partners full information about the cost structure and company will avoid â€Å"upstream fixed costs†. Question- 2 What is your overall evaluation of Abrams? management control system ? Describe strengths or weakness that you identified but did not include in answering the previous question. What changes, if any, would you recommend to top management ? Ans-2 * Company Management Control System was poor. * Company failed to minimize the cost and to control inventory level. Strength * The compan y has a clear management structure. * The company has employed a bonus plan for employees. The AM Marketing division will input products form the other three divisions, and sell it to domestic and foreign market, it helps the company save cost when it input internal. Weakness * The Abrams Company has three totally independent divisions, and the three divisions are lack of connection. * The transactions between the three divisions dispute the transfer pricing. * OEM customers preferred than AM. Suggestions * Top management should try to control inventory level. * Company should use non financial measures like inventory turnover. * If it is an strategic issue company should connect this measure to the bonus system. How to cite Case Solution on Abrasm Company, Essay examples