Corporate Governance Practices At Reliance Media Industries Limited

Question: Discuss about the Corporate Governance Practices At Reliance Media Industries. Answer: Recommendations that are based on corporate governance practices at Reliance Media Industries Limited Company Corporate governance refers to a system that comprises of practices, processes, and rules through which a company or an organization is both controlled and directed. Essentially, Corporate Governance normally comprises of an act that ensures the interests of the company as well of its numerous stakeholders such as customers, management, shareholders, the community, government, financiers, and suppliers are well balanced. Based on the corporate governance report of Reliance media industries, it is quite apparent that there are various practices that are embraced by the company in order to ensure that it maintains a positive and valuable working relationship with its numerous stakeholders (Madhani, 2014). For instance, reliance media makes use of various corporate governance practices that include among others use of Corporate Social Responsibility (CSR) through offering donations, giving environmental funds, and ensuring that it treats employees in a better way to empower them give ba ck to their respective communities or societies. That apart, Reliance Media Industries in its endeavor to embrace corporate governance also makes use of various committees, reports, and other transparent documents in order to ensure that the highest levels of corporate governance are upheld by the company (Larcker Tayan, 2015). The use of Corporate Social Responsibility (CSR) by Reliance Media to promote Corporate Governance Practices in the Company Reliance Media Company embraces Corporate Governance by ensuring that it has put in place a committee with clear terms of reference. Among other responsibilities and terms required by the committee, they include: Formulation and recommendation towards the board an effective CSR responsibility that depicts the various activities which should be undertaken by the organization in compliance with the provisions which have been stipulated in the Companies Act 2012 and the rules that are made there under. Recommend the amount of expenditure that should be incurred or spend in the CSR activities. Monitor implementation of CSR policy of Reliance Media limited from time to time. Approval of Corporate Sustainability reports and also oversees the effective implementation of numerous sustainability activities such as conservation of the environment (Shah Ramamoorthy, 2014). How Reliance Media Limited uses Corporate Social Responsibility in embracing Governance Practices The Use of Corporate Social Responsibility (CSR) It is prudent to note that Reliance Media limited usually ensures that Corporate Social Responsibility or CSR is actually at the core of its CSR philosophy and it has continued to ensure that this becomes a top priority. For instance the companys CSR teams at the manufacturing department positively and regularly interact with the neighboring community in various areas or divisions such as in health, development of infrastructure, and in education (Lattemann, 2014). The company( Reliance Media Limited) through its manufacturing department thus ensures that the communities around them are not only provided with safe drinking water but enjoy benefits that emanate from enhanced village infrastructure as well as construction of schools in the neighborhood. That apart, Reliance media also engages in positive CSR through donation of relief as well as general assistance in circumstances where there is occurrence of any natural disasters within such communities. In collaboration with numerous Non-Governmental Organizations (NGOs) and other relevant partners, Reliance Media Limited also gets involved in various health initiatives and community development activities (Singh Verma, 2014). The company, Reliance Media Limited, is highly interested in ensuring that there is conservation of the environment and therefore it has ensured that funds are allocated towards this worthy cause. For instance, Reliance Media has ensured that funds are set aside to be used in various environmental activities such as tree plantation, effluent treatment, and even in treatment of hazardous wastes. Better Employees One of the significant endeavors that have been made by Reliance Media in order to embrace Corporate Governance is that it has ensured that its employees are well treated. This has been made possible through the establishment of the Employee Stock Option Scheme. This is actually one of the broadest programs that has so far been quite successful in the company and is known to cover a large number of employees (Yadav Jain, 2016). This has indeed played a significant role in enhancing corporate governance at Reliance Media Limited. This program is quite important for employees at Reliance Media because it effectively facilitates not only the delegation o authority in the company but it also ensures that both integrity and governance are well maintained. Moreover, this program is quite prudent for the company because it has ensured that there is total alignment and integration of individual interests with the companys growth imperatives. The use of Committees in embracing Corporate Governance at Reliance Media Limited Reliance Media Company has a constant endeavor of ensuring that there is adoption of the best governance practices as stipulated in the International Codes of Corporate Governance and as it is effectively practices by renowned global companies in the world. Apart from the fact that the company uses Corporate Social responsibilities and transparent reports in order to enhance corporate governance in its realms, it is important to note that the company also makes use of a committee to ensure its goals and objectives are well achieved (Taylor, 2015). For instance, Reliance Media limited actually has an independent Board Committee that not only deals with matters or issues to do with Corporate Governance and Stakeholders Interface but also deals with the nomination of its Board members. The Use of Reports and Transparencies by Reliance Media in Corporate Governance Practices Using of appropriate reports and transparent records is one of the major ways that Reliance Media Company uses in order to enhance Corporate Governance practices. For instance, Reliance Media not only has a designated Lead Independent Director that has a defined role, but it also ensures that there is a constant review of all the appropriate securities related filings with the Stock Exchanges (Yadava Sinha, 2016). In addition to that, all the securities are also reviewed after every quarter by investors as well as the Shareholders Grievance Committee that comprises of the companys Directors. In addition to that, Reliance Media Limited has also developed procedures and policies to enhance disclosures thus embracing corporate governance practices. References Larcker, D., Tayan, B. (2015). Corporate governance matters: A closer look at organizational choices and their consequences. Pearson Education. Lattemann, C. (2014). On the convergence of corporate governance practices in emerging markets. International Journal of Emerging Markets, 9(2), 316-332. Madhani, P. M. (2014). Corporate governance and disclosure practices of Indian firms: An industry perspective. Shah, S., Ramamoorthy, V. E. (2014). Corporate Social Responsibility: The Indian Story Comes a Full Circle. In Soulful Corporations (pp. 199-235). Springer India. Singh, A., Verma, P. (2014). CSR@ 2%: A new model of corporate social responsibility in India. Taylor, K. (2015). Learning from the Co-operative Institutional Model: How to Enhance Organizational Robustness of Third Sector Organizations with More Pluralistic Forms of Governance. Administrative Sciences, 5(3), 148-164. Yadav, R. K., Jain, R. (2016). Customer's Perception Towards Corporate Social Responsibility (CSR)-A Case Study of Reliance Life Insurance. World Scientific News, 42, 267. Yadava, R. N., Sinha, B. (2016). Scoring Sustainability Reports Using GRI 2011 Guidelines for Assessing Environmental, Economic, and Social Dimensions of Leading Public and Private Indian Companies. Journal of Business Ethics, 138(3), 549-558.

Child abuse and Neglect

Question: Discuss about the Child abuse and Neglect. Answer: Introduction: Child abuse is the maltreatment in which a child is physically, sexually and emotionally harassed or neglected either by parents or caregiver. The actions and failure to act by the parents or the caregivers would result in physical harm, emotional or psychological distress (Damashek and Chaffin 2012). The child maltreatment includes the neglect, physical or sexual abuse, emotional abuse or exploitation (Sperry and Widom 2013). According to World Health Organization, child abuse is defined as the physical and emotional ill treatment, negligence or exploitation that affects the childs health, development, survival or dignity in context to relationships with parents or caregivers (World Health Organization 2014). World Health Organization recognizes child abuse as a major global problem that is impairing the lifelong physical and mental well being affecting their physical and social development (Stoltenborgh, Bakermans-Kranenburg and van IJzendoorn 2013). World Health Organization has d eveloped step wise policy development to prevent child abuse or neglect. There are several phases for the development of policy for child abuse or neglect. There are three main phases involving the planning, designing and leading of the policy, formulation of the policy, approval and proper endorsement of the policy tools (Gerston 2014). The policy development requires workforce, alternate care for children, and better access to resources of health to the children and the families for the implementation of protective services that are effective for the children (Hill 2014). The policy area also focuses on the justice system operating towards the victims of child abuse or health. The part one is the setting up the scene for studying the importance of development of policies for the child abuse or neglect. This phase also covers the relation of the policy to legislation, general considerations regarding the scope and demand for the child abuse or neglect prevention policy (Anderson 2014). It also takes into account the existing policies on child abuse or neglect mainstreaming and generation of policy on child abuse or neglect. The part two is the actual development of policy in response to child abuse or neglect (Birkland 2014). In the phase one, the initiation of the process of policy development takes place. It is a multi stage process. Firstly, there is assessment of the situation. It includes the statistics, global burden of child abuse or neglect and the overall scenario of child abuse affecting globally. Secondly, after the assessment, there is creation of awareness regarding the child abuse or neglect. During the third step, there is identification of l eadership and political commitment. The fourth step consists of the involvement of the stakeholders and creation of ownership. The phase two encompasses of the formulation of the policy (Kickbusch and Gleicher 2012). This phase consists of three steps; the first step comprises of the defining the framework, the second step is the setting of objectives and goals and the selection of intervention strategies to prevent the child abuse or neglect and the third step is the ensuring of the policy leading to action. The third phase is the seeking of approval from different stakeholders, government and endorsements from the state. Set up of the scene Child abuse is a serious offence and thousands of children fall a prey to abuse or neglect. Victims of child abuse suffer difficulties in their lives and hamper their physical, emotional and psychological development. The children are the foundation of a future generation and their disrupted development would greatly affect the development on a national level. The children who are under the age of 18 years experience physical, sexual and emotional maltreatment, negligence and exploitation that potentially affect the health, development, survival and dignity in children. About 14 million children are subjected to abuse as reported by International Statistics on child abuse (Pipe, Lamb, Orbach and Cederborg 2013). Global awareness is required in context to child abuse and World Health Organization is taking initiatives through the meetings, setting up of policies and different prevention strategies on child abuse or neglect. The child abuse related rules and regulations are being addresses by every country to create awareness, take steps to prevent it by sharing common objectives, visions and strategies (Allwood and Widom 2013). The main focus is the formulation of policies which focuses the attention on the child abuse or neglect issue to obtain optimum resources that are required to address the issue. The policy development should also lead to the appropriations of the legislatives and making of a solid budget for allocation. The child abuse policy would initiate community and national level interventions that would avoid the overlapping and gaps in the development of programs. The policy on child abuse or neglect is basically a written document that mentions the joint actions taken by the government and nongovernmental organizations. The policy is made with an intention to create awareness, mutual understanding about the seriousness of the present situation on child abuse, articulation of the ethical principles that clearly states and justify the guide action (Blank and Burau 2013). It also generates vision on the undertaken actions, action framework, and the definition of institutional responsibilities and coordination mechanisms that engages a variety of organizations. It is considered as a set of principles that guide the decision making and proposed framework for the activities. Concisely, the child abuse or neglect policy is a document that chalks out the basic principles, defining goals, objectives, actions that are prioritized, mechanisms for controlling and preventing the child abuse or neglect injuries and reduction of the related physical and men tal consequences. The child abuse is measured in a range of situations that define the reasons. The emotional abuse, neglect, physical abuse, family violence and sexual abuse are the types of child abuse. The emotional abuse is the emotional and psychosocial abuse of the child. Some parents are emotionally abuse or be violent while treating their children. Children can be emotionally abused at homes as well as in schools. In Australia, child neglect refers to the situations in which the childs needs are not fulfilled by the parents or the caregivers in context to food, shelter, and clothing, access to medical care, love, support and education. The physical abuse in Australia is encountered in domestic violence in Australia and parents physically abuse their children. The Australian community is raising recognition in terms of child abuse or neglect. The policy is related to legislation as it gets ratified in becoming the part of the legislation. The introduction of new laws that formulate a policy establishing a system at the national level for the prevention of child abuse or neglect and the development of the policy is the most important step (Widom, Czaja and DuMont 2015). The only difference lies between a policy and legislation is that policy is not a legal document and legislation consists of laws enacted by law makers. The United Nations Convention on the Rights of the Child imposes implications for the protection of child from abuse or neglect. The policy document signing shows the willingness of the countries to abide by the proposed set goals and principles. The ratification and signing of international treaty that provides a framework that is legal and applied to governments at the national levels that helps in increasing the accountability, policy development, legislative reform and provide a supportive environment f or the child abuse or neglect prevention. The civil societies also use the international agreements to advocate reformations in the laws for the countries. The World Health Assembly resolutions are adopted by regional committees, World Health Organization in the making of policy by the policy makers that lays the foundation for political support in making of national policies. The health sector plays an important role in taking care for the child abuse victims and not necessarily considering the prevention of the child abuse or neglect. The leadership role comprises of the assessment of the initial situation, raising awareness among the government partners, advocate and create, draft policies. The ministry of health collects data from the sectors and provides evidence based research is the catalytic role. The coordinating role is the main function to overcome the barriers that are institutional between the sectors and provide a collaborative environment. It also provides a supportive role by improving the hospital based data for better monitoring of the evaluation methods. If the political leaders are made aware regarding the seriousness of the child abuse or neglect problem, then the ground is set for the creation of national policy on the child abuse or neglect. Development of policy in response to child abuse or neglect The execution of policy development occurs in three phases. The initiation of process of policy development and identification of the roles of main stakeholders, the drafting of policy is the second phase and the third phase comprises of the endorsement and official approval of the policy. The phase one comprises of four steps including assessment of the situation, raising awareness, identification of the leadership and political commitments and final step is the involvement of the stakeholders and creation of ownership. The phase two consists of three steps like the defining of the framework, setting of the objectives and interventions and the third step is the leading of the policy into action. Finally, the third phase is the seeking of approval from the government and stakeholder and getting state endorsements (Nanda and Pring 2012). Initiation of process of policy development This phase consists of the assessment of the current scenario with respect to child abuse or neglect, creating awareness for the issue, political sense of leadership and commitment and involvement of stakeholders. For the assessment of a situation, a good understanding is required regarding the epidemiology, intervention, existing policies of child abuse or neglect and a n analysis of stakeholders. This assessment step helps in widening the scope for the directed policy making where every type of child abuse is tackled and linked to the health strategies and plans. The epidemiological assessment is the collection of data at the national level. It gives a clear picture of the incidence of child abuse, causes, risks and other protective factors. The intervention assessment gives a clear view of the existing interventions that are I tended to prevent child abuse or neglect. It also helps to reduce the harmful consequences of the child abuse. The assessment of the existing health policie s, laws and regulations would help to frame the new policy. The implementation of the current policies and the regulations are the important steps involved in it. The analysis of stakeholders would help to throw light on the social environment where the development of the policy is being undertaken. The government departments, institutions and nongovernmental organizations are the potential stakeholders. The raising of awareness about child abuse along with community education and advocacy influences public, policy making opinions and programs that are helpful in mobilizing the policy development process. The leadership and political commitment is required for policy development as the policy stretches beyond a particular sector at the national level. The main leadership quality is to coordinate inputs directed towards policy making. The involvement of stakeholders increases motivation and ownership. It encompasses stakeholders that are empowered to solve the issue for which the policy is being made. Community participation is important to tackle abuse and develop policy. Formulation of policy The defining of framework is the recommended approach to policy documentation, direction and overall shaping of the policy. The goals and objectives of the policy, timeframe and the guiding principles of the policy are defined in this step. It should also justify the policy needs, data recourse, mortality and morbidity related to child abuse. The human rights, equity and social justice, autonomy, dignity and community involvement are the general principles that guide the policy making. The setting of objectives and interventions consists of main body og policy. The outcomes of policy implementation define the objective, requirement of base line data for quantifying objective. The objectives include components of child abuse control based on data, setting of sub objectives to address each type of child abuse, identify relevant I interventions and its effectiveness. It also includes sequence of interventions according to their effectiveness. For the implementation phase, it is importan t to set priorities depending on type of child abuse and other factors in shaping of the policy. Prevention is directed more in reducing violence that leads to child abuse and deciding priorities within the scope of making of policy would define the different stakeholders and appropriate interventions. It is also important to define the responsibilities of the institution and coordination of mechanisms between the national entities and ministries in policy documentation (Petersen, Joseph and Feit 2014). Without proper financial and human resources, the policy cannot be developed. The training, costs for implementation, funding sources from national and international agencies decides the degree of success of the policy. The monitoring and evaluation of the policy drafting is the final step. The evaluation of policy helps to know the loopholes in the policy development. Approval seeking and endorsement This is the final step in the policy development starting with approval from stakeholder and government. A consultative meeting of the stakeholders discussing about structure, content of the policy document with each stakeholder commenting on the draft, discussing the opportunities and constraints in the implementation of policy involves the stakeholder approval. The stakeholders hold an important position in policy making and their approval is vital for implementation. The government approval is important before the policy is recognized by a legislative or state body. The government approval gives advantage to a person or organization within government to play leadership role in the process. The policies are required to be approved by the monitories before the state endorsement. The coordination between several ministries and their commitment is desirable for attaining the highest level of approval in policy making. An officially approved policy document helps to considered being be st and resistant in terms of changing political climate and government. A policy that does not seek approval through different legislative or government body faces failure in the long run. Therefore, approving of policy document would help to implement the policy firmly according to political agenda (Buckley and Nolan 2015). References Allwood, M.A. and Widom, C.S., 2013. Child abuse and neglect, developmental role attainment, and adult arrests.Journal of research in crime and delinquency, p.0022427812471177. Anderson, J.E., 2014.Public policymaking. Cengage Learning. Birkland, T.A., 2014.An introduction to the policy process: Theories, concepts and models of public policy making. Routledge. Blank, R.H. and Burau, V., 2013.Comparative health policy. Palgrave Macmillan. Buckley, H. and Nolan, C.O., 2015. Recommendations from child abuse inquiries and their impact on policy and practice.CHILDRENS RESEARCH DIGEST, p.4. Damashek, A.L. and Chaffin, M.J., 2012. Child abuse and neglect.Handbook of evidence-based practice in clinical psychology. Gerston, L.N., 2014.Public policy making: Process and principles. Routledge. Hill, M., 2014.Policy Process: A Reader. Routledge. Kickbusch, I. and Gleicher, D., 2012.Governance for health in the 21st century. Geneva, Switzerland: World Health Organization. Nanda, V. and Pring, G.R., 2012.International environmental law and policy for the 21st century. Martinus Nijhoff Publishers. Petersen, A.C., Joseph, J. and Feit, M. eds., 2014.New directions in child abuse and neglect research. National Academies Press. Pipe, M.E., Lamb, M.E., Orbach, Y. and Cederborg, A.C. eds., 2013.Child sexual abuse: Disclosure, delay, and denial. Psychology Press. Sperry, D.M. and Widom, C.S., 2013. Child abuse and neglect, social support, and psychopathology in adulthood: A prospective investigation.Child abuse neglect,37(6), pp.415-425. Stoltenborgh, M., Bakermans-Kranenburg, M.J. and van IJzendoorn, M.H., 2013. The neglect of child neglect: a meta-analytic review of the prevalence of neglect.Social Psychiatry and Psychiatric Epidemiology,48(3), pp.345-355. Widom, C.S., Czaja, S.J. and DuMont, K.A., 2015. Intergenerational transmission of child abuse and neglect: Real or detection bias?.Science,347(6229), pp.1480-1485. World Health Organization, 2014. Global status report on violence prevention 2014.

The Arrhenius Equation and Activation Energy Essay Example

The Arrhenius Equation and Activation Energy Paper In this lab, our task is to determine how different degrees of temperature affect reaction rates.  A Swedish chemist, named Svante Arrhenius discovered the relationship between temperature and reaction rate. In finding this relationship a new equation was formed called the Arrhenius Equation:  Reaction rate constant k = A e -Ea/RT  The factor A represents the frequency of collisions between two molecules in the proper orientation for reactions to occur. The value of A is determined by experiment and will be different for every reaction. The value of the exponential term e -Ea/RT describes the fraction of molecules with the minimum energy required to react, R is the gas constant, 8.314 J/mol-K, T is the temperature in Kelvin and Ea is the activation energy. Activation energy of a reaction is the minimum amount of energy needed to start the reactions. In order to understand and make use of this equation, we must include the Collision Theory. Collision Theory states that in order for a reaction to occur, two molecules must collide in the proper orientation and posses a minimum amount of energy to react. The Arrhenius equation accounts for all of the requirements of Collision Theory.  The Arrhenius equation can be rearranged and combined to determine the activation energy for a reaction based on how the rate constant changes with temperature: In this lab, we will be calculating the rate constants for each of the four temperatures. The four temperatures include: 23, 40, 50, and 60 degrees Celsius. After the rate constant is found for these temperatures, we will use the Arrhenius Equation to solve for Ea and A by an analytical approach. Additionally we will use a graphically approach to solve for these values. The value found for Ea analytically is 9.20 X 104 J/Mol and the value for Ea found graphically is 8.51 X 10 4 J/Mol. We will write a custom essay sample on The Arrhenius Equation and Activation Energy specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The Arrhenius Equation and Activation Energy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The Arrhenius Equation and Activation Energy specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The difference between the two is 6873 J/Mol. The value of 9.20 X 104 J/Mol was found experimentally, while the value of 8.51 X 10 4 J/Mol was found by using experimental data to find the best-fit equation for the line. Because this was a best-fit equation done by a computer working with the experimental data a difference is expected. It should be noted that the difference of the two figures is relatively small. Conclusion: In this lab, we experimentally tested how reaction rates change with varying degrees of temperature. We tested this by measuring out specific volumes of reactants, when the final reactant was placed in the flask we started the stopwatch. We were able to time the reaction visually by the change in color, once the reactant color turned clear the reaction was over and the stopwatch was stopped. We did this four times with the variable being the temperature of the water baths that the flasks were in. The first run was done with no water bath, thus at room temperature of 23à ¯Ã‚ ¿Ã‚ ½C and the other three runs at 40, 50 and 60à ¯Ã‚ ¿Ã‚ ½ C. When we solved for Ea1 the value was 8.94 X102 KJ/Mol this represents the two lowest temperature and the value of Ea2 was 9.45 X 101 KJ/Mol for the two highest temperatures. Our data supports the idea that as temperature increases the rate increased, this was the true for all four runs. As with any experiment there is always a margin of error, in this case we were not working in a closed environment, and the fact that we took the flask out of the water baths before reading the final temperature occur twice which could possible provide an error. Prior to doing this lab, I have been told as well as have read that it is a clear understanding in the scientific world that a change of 10à ¯Ã‚ ¿Ã‚ ½C will double the rate of a reaction. We tested this in this lab, and once again this understanding has been substantiated. This experiment emphasized that the Arrhenius equation is a proving powerful tool for predicting reaction rates over a wide range of temperatures. After a final analysis of our data, I feel confident that our experiment was a success. My understanding of this concept is more firmly in place than prior to this experiment. References: Moore, John W., et al. The Chemical World Concepts and Applications. Orlando: Harcourt Brace Company 1994. Silberberg, Martin S., 2000. Chemistry: The Molecular Nature of Matter and Change. Third Edition. New York: McGraw-Hill Higher, 2000.

White Noise Process Definition

White Noise Process Definition The term white noise in economics is derivative of its meaning in mathematics and in acoustics. To understand the economic significance of white noise, its helpful to look at its mathematical definition first.   White Noise in Mathematics Youve very probably heard white noise, either in a physics lab or, perhaps, at a sound check. Its that constant rushing noise like a waterfall. At times you may imagine youre hearing voices or pitches, but they only last an instant and in reality, you soon realize, the sound never varies.   One math encyclopedia defines white noise as A generalized  stationary stochastic process  Ã‚  with constant  spectral density. At first glance, this seems less helpful than daunting. Breaking it down into its parts, however, can be illuminating.   What is a stationary stochastic process? Stochastic means random, so a stationary stochastic process is a process that is both random and never varying its always random in the same way. A stationary stochastic process with constant spectral density is, to consider an acoustic example, a random conglomeration of pitches every possible pitch, in fact which is always perfectly random, not favoring one pitch or pitch area over another.   In more mathematical terms, we say that the nature of the random distribution of pitches in white noise is that the probability of any one pitch is no greater or less than the probability of another. Thus, we can analyze white noise statistically, but we cant say with any certainty when a given pitch may occur.   White Noise in Economics in the Stock Market White noise in economics means exactly the same thing. White noise is a random collection of variables that are uncorrelated. The presence or absence of any given phenomenon has no causal relationship with any other phenomenon.    The prevalence of white noise in economics is often underestimated by investors, who often ascribe meaning to events that purport to be predictive when in reality they are uncorrelated. A brief perusal of web articles on the direction of the stock market will indicate each writers great confidence in the future direction of the market, beginning with what will happen tomorrow to long-range estimates.   In fact, many statistical studies of the stock markets have concluded that although the direction of the market may not be entirely random, its present and future directions are very weakly correlated, with, according to one famous study by future Nobel Laureate economist Eugene Fama, a correlation of less than 0.05. To use an analogy from acoustics, the distribution may not be white noise exactly, but more like a focused kind of noise called pink noise. In other instances related to market behavior, investors have what is nearly the opposite problem: they want statistically uncorrelated investments to diversify portfolios, but such uncorrelated investments are difficult, perhaps close to impossible to find as world markets become more and more interconnected. Traditionally, brokers recommend ideal portfolio percentages in domestic and foreign stocks, further diversification into stocks in large economies and small economies and different market sectors, but in the late 20th and early 21st centuries, asset classes that were supposed to have highly uncorrelated results have proven to be correlated after all.

MGMT 4420 Essay Example | Topics and Well Written Essays - 750 words

MGMT 4420 - Essay Example It is good for Candlelight to upgrade the skills of the employees so that they will be able to improve their operations. I believe that it is necessary to do so because some employees will be relocated to other areas in the event that this competitor is acquired. Given such a situation, the interpersonal skills of the employees such as communication have to be improved so that they can express their ideas freely. This helps to reduce conflicts which can negatively affect their performance. I believe that the management of Candlelight, Inc should make an effort to include the ideas of talented employees when they make decisions that affect the operations of the organisation as a whole. Employees must be given the opportunity to contribute towards the decision making process so that they can feel as important to the organization. There will be more chances that their performance will improve if they have a sense of belonging to the organization. It can be noted that this strategy can promote organisational growth since their skills will be upgraded to meet the changes taking place in the business environment. On the other hand, the employees can have a common understanding of what will be expected of them in the organization. I am convinced that the human resources management have a big role to play when it comes to improving the performance of the employees. In this particular case, I would advise the leaders of Candlelight, Inc, to adopt the democratic participatory style since it gives all the employees an opportunity to contribute their ideas in the decisions made. As suggested by Carrel (376), if employees are treated as valuable assets to the organisation, they will put maximum effort in their operations which helps in improving their performance. I believe that constant development of the employees will improve their morale which is very

Fostering the Greatest Happiness for the Greatest Number of People Essay

Fostering the Greatest Happiness for the Greatest Number of People - Essay Example Despite opponents of fostering happiness, moral actions will definitely foster and sustain the greatest happiness within the greatest number of people in a given society or community. Key words: Greatest, happiness, moral, action, utilitarianism, fostering, and sustaining Fostering the Greatest Happiness for the Greatest Number of People Based on the utilitarian philosophy any public policy should aim at making a greater number of people attain the greatest possible happiness (Roberts, 2011). Despite the fact that attaining greatest happiness for a greater number of people is unfeasible and undesirable on ideological grounds, there are better ways of attaining the same (Brulde & Bykvist, 2010). Since the classical time social history has shifted its main objective from poverty alleviation to making sure that every individual receives a more considerable standards of living (Roberts, 2011). Enhanced standard of living is one way of achieving happiness within a given population. Theref ore, Veenhoven (2010) argues that despite the philosophical misconceptions that fostering greatest happiness to a greater number of people is both undesirable and unfeasible, there are numerous strategies, actions, and policies that would enhance the same. The following discussion attempts to provide a deeper understanding on how to foster the greatest happiness for the greatest number of people. In order to provide the same, the discussion includes definitions of both the greatest happiness as well as the greatest number of people. The following discussion attempts to provide a deeper understanding on how to foster the greatest happiness for the greatest number of people.... What’s more, the paper attempts to provide an overview of the main points under the conclusion sections. Definition of Terms ‘Happiness’ is a word that has many different meanings. The meanings of the word ‘happiness’ are always mixed up when use thereby ending into elusive reputations. One of the ways of defining happiness is on the basis of quality of life. According to Roberts (2011), happiness used in a broader sense would indicate high quality of life or the art of well-being. As a quality of life or well-being happiness denotes that life is a good thing even though such meanings do not provide the features or aspects of a good life. When used in specific ways under the aspect of quality of life or well-being, happiness can described some of the aspects of quality of life (Brulde & Bykvist, 2010). In most cases, happiness is used to define two main classifications revolving around the life’s quality or well-being. Vertically, happiness may be used to differentiate between chances of good life against the actual outcomes that individuals undergo through. On the other hand, happiness can be used horizontally to provide a distinction between external and internal qualities of a person. Understanding happiness in respect to quality of life has been commonly used especially in the contemporary economy. Qualities of life can be viewed as either inner or outer qualities on one perspective and as either life-chances or life-results on the other perspective (Brulde & Bykvist, 2010). A life that has desirable outer qualities and life-chances is considered to be livability of environment whereas a life that has both results and outer qualities is considered to be utility of life. Notably, life with chances and inner qualities is

Specific Job Description And General Job Description Commerce Essay

Specific Job Description And General Job Description Commerce Essay General job des is best suitable if the single task has to be carried on by the group of people or if the same duties and functions are to be performed by multiple people may be at same department, place or at different places the best example may be the call canter executives or the customer support executives where as it may not the case in job des of specific nature General Job des may be for the lower level positions where the requirement is for huge amount of personnels or it may even be good for operational level. Whereas specific job des is for tactical and strategic levels General Job description may explain vision, mission, policies etc where as the later is position specific in an organisation Their may be group of people with same designation, salary ,roles and responsibility in general job des but the case may not be the same in specific job des specific job des may be required when the organisation wants to recruit the specialised person with specific skill sets 2. Suppose several people are employed in the same job as the one for which you are writing a job description. Would it be necessary to write a different job description for each person who works in the same job? In an organisation to develop the job description, it is necessary to study the competencies, abilities and skills that are required because when developing job description manager is supposed to make an analysis of job not the job holder of the position not the person, because all the people are supposed to carry on same function, has to achieve similar objective, it will also support you in evaluation the performance or performance appraisal, The training and development cost may be reduced The promotion structure and monitoring will be facilitated It will be advantageous in compensation management, declaring financial and non financial incentives The poor and the best performers may be well identified 3. Carefully follow a format for the specific Job Description when writing the job description for the job you selected. Make sure that you include in you job description the following elements: job description is an activity which will be based on the job analysis and it will be a document where filtering process will be undertaken as at first when I wanted to prepare the job description and wanted to list down the number of activities that are performed it has gone unto 43 then I have started clustering it under different headings therefore I have first started from macro then gone for micro, as already been mentioned in my previous explanation also that we have to develop job or position not job holder or person as the organisation will be stable and positions will be stable but it may be replaced with many eligible people so we designate power, authority accountability, and responsibility to positions and most importantly first the position is created then we will match with the person which is important function in job description The job description is developed to know why the job is to be performed, what are the task that are to be accomplished, and how it has to be performed THE DESCRIPTION FORMAT FOR HR EXECUTIVE Department : Human Resource Department Designation Or Title Of The Job : Human Resources Executive or HR assistant Job Summary :- the job includes carrying on the recruitment and selection for the organisation for which identify the potential sources from which the talent or potential candidates may be sourced, arranging the recruitment and selections. Coordinating with various departments and .forecasting the manpower requirement and coordinate and plan internal and external recruitment, maintaining of database of human resources Job duties and responsibilities :- The job responsibilities may include job analysis Manpower planning by collecting the data from all the departments of organisation Coordinating with all the heads of departments and collecting necessary details of requirements and eligibilities Manpower forecasting and planning Recruitment of candidates by internal and external sources Coordinating with all placement agencies and placement consultants Conducting interviews, review of application forms by various screening techniques Development and maintaining recruitment policy Work with accounts admin department for developing payroll Designing and conducting the induction and skill enhancement training program Reviewing and evaluation of employee performance and constant performance appraisal activities has to be carried on. All the other human resource activities also has to be looked after d) Job requirements :- Candidate has to be well versed with reading, writing and speaking English Person has to have in-depth knowledge of human resource management Should possess negotiation, counselling and motivational skills He has to have knowledge about International labour organisation rules and regulations Thorough knowledge in computers, web browsing and other packages of payroll management e) Minimum qualification The person has to have bachelors or masters degree in personal management, human resource management or any other HR degree from reputed university Diploma in computers Task 2 Clone or Complement? What to look for in a team In many organizations that have moved to a team structure, the team is the principal unit where work gets done. However, most organizations recruit and hire as though there was one job description and the team did not exist. The reality is that people have natural strengths or tendencies and therefore end up playing different roles on a team. For example, some people are naturally empathetic and focused on interpersonal issues. Others are focused on and most comfortable with technical aspects. Others like the excitement of identifying new concepts and solutions but arent cut out for dealing with the operational details needed to carry them through. Recent research has found that allowing people to play to their strengths can yield maximum performance and employee satisfaction. Critical thinking questions IF THERE ARE DISTINCT ROLES TO BE PLAYED ON A TEAM, HOW WOULD YOU GO ABOUT RECRUITING AND HIRING FOR THEM? The business world had made tremendous growth and development not only operationally but also strategically, due to the liberalisation ,globalisation and privatisation the whole world had became a global village ,therefore the need of an hour is the dynamism in operation and matching the trends with constant change for which their has to be the dynamism in the human resources as the organisation does not have any existence if there are no people which has been explained in the definition of organisation Further the recruitment may be by many ways which are as follows The internal recruitment process may be followed where the employees has to be motivated for facilitating in organisation recruitment process, the company may also declare some financial and non financial incentives to present personals (reference method) by this the company may have various advantages like Company may get the trust worthy people as they are been referred The new recruited will be knowing the policies and operations of organisation as referee might have updated him The cohesiveness among the team mates will be high as the are been referred by them only, the learning process will be comparatively faster The company may even have cost effectiveness as this process comparatively will cost less in monetary as well as risk terms The company may also hire the people from the channel member as they may be with good knowledge about organisation modus of operation The present employees working in an organisation on contract or temporary basis also may be hired The organisaton may go for campus recruitment where they may hire fresh talent as trainees where they have to be exposed to the concern teams, the students may also provided the internship or projects where based on their efforts ,ability and interest they may also be recruited The characteristics needed by individual team members depend on the team and the strengths and weakness of others who are on the team. In other words, the situation is much more dynamic than assuming that there is one static job with a single set of qualifications. How could you model or include this dynamic and interactive nature in the recruitment and hiring process? The company may follow as mentioned above and the referral strategy may be also be followed The company may focus on high level and professional induction training with both in house and on the job training methods One of the most advanced method may be Japanese method of life time employment where the candidates has to be hired from their schooling only, there fore the cohesiveness among members will be more ,they will be clear about career path etc The company may also hire some reputed placement consultants and take the help from employee clubs The organisation may also go for set up of its own college or make mou with some reputed university to impart the specialised knowledge of company its policies and procedure as done b mc Donalds and icici Team exercise As a team, identify the roles that you think are important for teams in the workplace. Identify the skills needed to perform each role. It has been stated in the book essentials of management that their are three major skills required in an organisation that has been explains as fallows Conceptual skills Human Skills Technical Skills TOP LEVEL MIDDLE LEVEL LOWER LEVEL The fist category of skills is the conceptual skills: the conceptual skill has to be in maximum quantum by top level and as we go down the level i.e at lower level it decreases The second category of skills is the human skills which are to be in equal quantum by all the levels Third skills are the technical skills which will be at high quantum at lower level and decreases when moved till top level Other skills required are as fallows profitable judgment knowledge about product both technical and non technical effective time managing skills planning and organizing skills communication skills computer and it skills problem-solving and decision-making team-working and developing/helping others energy, determination and work-rate steadiness under pressure leadership and integrity innovativeness ,adaptableness, flexibility, and mobility personal appearance and image appreciation and application of social responsibility, sustainability, and ethical considerations In addition to skills, a natural tendency or motivation to perform in a particular type of role can be critical. How could you measure the motivation needed for each role? How could you measure the skills needed for each role? Motivation is an ongoing process where the motivational needs of the employees change from time to time more so over it has been identified by great researchers like Maslow and Hertzberg who stated different motivational factors for a human being .as stated by Maslow who correlated the needs hierarchy the form of basic needs, security needs, social and love needs, esteem needs and self actualisation need where he explained there are different set of factors at each hierarchy. Which can be correlated as major motivational factors for which a manager has to do following To know the motivational factors of employees first the manager has to be motivated He has to be epithetic Study in detail the organisational goals so as to correlate with goals of employees Then understand what factors motivate them by judgment and experience as well as collecting information from employee itself Recognize that supporting employee motivation is a process, not a task Support employee motivation by using organizational systems (for example, policies and procedures) dont just count on good intentions The factors once identified by analysis ands reviewing job and job description they may be put on a structured or semi structured questionnaire, generally all the motivational factors will be qualitative factors therefore standard scales for measurement may not be used so develop own scale with open-ended, ranking, grading and other qualitative ways of questions the manager may use even attitude measurement scales like likert, thurstone, semantic differential scale etc. How could you effectively recruit for the various positions or roles? In a simpler words the effective recruitment starts with development of effective recruitment plan by appropriate feasting, perfect job analysis ands developing good job description, Present your recruitment and selection plan by preparing a report not exceeding e500 words. R-RESOURCEFUL E-ENERGETIC C-CHARISMATIC R-REALISTIC U-UBIQUITOUS I-INQUISITIVE T-TACTFUL E-EAGER R-RIGHTEOUS Be prepared there is an old phrase in management which says if you fail to plan then you are planning to fail. Therefore if the organized planning is done it will definitely result in reducing time and cost of recruitment at the same time tabbing high potential for which following are to be done Analyze market trend within your business and industry is a very important element of the planning stage. Yet a day is able to create a gigantic differentiation so plan to have a hoard of resources which you can instantly take from as soon as the need arises. There are usually three type of role you will apply in your industry: High churn role usually the least possible time to employ, but the very ften advertisement. The advantage of high churn functions is that you repeatedly get the opportunity to analyse new technique to well adjust your hiring method. This is the group of candidate that your ongoing recruitment drive should be target. There are numerous instance where organisations run recruitment campaign even when they have no vacancy. Medium churn roles these are the role which are seen less frequintly for additional vital part of your organisation. This could be a mid-level manager who leaves their subordinate with no one to report to, or a expert member of staff who has a exceptional skill set. The best way to decrease time to employ with these position is to put up a talent pool which you can contact when the time comes. combine this with a extremely targeted online recruitment campaign should bring you a good number of prospects of candidates to select from. Low churn roles For long term strategically important role which are much less often hired for, its not as much of important for you to fill up the role rapidly and added significant to identify the right person. However, there are still some things you can do to help drive the progression all along.recruiters usually work on commission only and you should be able to get often day to day reports on who in the business may be ready to make a move so when the time comes you know the best people out there to fill the departing shoes. Internal recruitment is your other option for filling a position quickly, although remember that shifting an employee into a new role will only open up a gap elsewhere. Strategy =2 measure trend in: external labour markets, Current employees Future organisational plans, General economic trends Æ’Â ª Predict demand Æ’Â ­ Æ’Â ® Forecast internal Forecast external supply supply Æ’Â ® Æ’Â ­ Compare future demand and internal supply Æ’Â ª Plan for short-falls or over-staffing Steps for recruitment Describe the work or the job Profiling the candidates Converse your job needs Decide precisely the methodology Important questions to be considered whether we have the requirement for the said job? What are the task involved in job? What are the skill sets to be possed by the person? What may be the sources of getting person How to call them to our organisaton ? Formal and strategic approach Man power planning and forecasting Detailed Job analysis Development of Job description Specifying the job roles and responsibilities Starting the Recruitment Conducting Selection process Induction and job offer Different ways of Job Analysis Developing the Questionnaire Conducting Individual Interview Observational method Judgement and Expert Analysis method Work Participation Critical Incident Technique Job Descriptions Job Specifications Elements of a Job Description Job title Department Location Reporting toà ¢Ã¢â€š ¬Ã‚ ¦ Main tasks Staff responsibilities Rewards conditions Impact on others Qualifications Innate abilities Motivation Emotional adjustment Most Popular Methods Advertisement in local news papers Advertisement in specialist press Advertisement in national press Placement and Employment agency Putting Notice inside premises Job centres Education liaison Unsolicited application Careers service Head hunters Careers fairs Internet Word-of-mouth