Missouri Department of corrections rank among the highest in Research Paper

Missouri Department of corrections rank among the highest in recidivism - Research Paper Example By building cognitive skills the department has established the most effective intervention technique to address recidivism. The program aims at addressing issues such as decision making, successful relationships in the society and corrects thinking errors that result to criminal behaviors (Boehm, 2007). The cognitive behavioral program should target offenders’ attitude, anger, and beliefs. Peers, substance abuse, and they are more action oriented. These actions help the offender in replacing the negative actions and association with the new leant behaviors. A better prison education program is the most appropriate and recommended correction method for Missouri prison. The program should involve providing the inmates with education and skills that enable them to secure employment opportunities once they are out of prison. The state government should launch a program such as PERU (prison education revolutionary unit) that will ensure inmates acquire more skills in Automotive, Information Technology, Welding, Culinary Arts, and basic Engineering courses (Jackson & Lyons,  2007). The program will improve vocational education by availing highly trained, experienced, and skilled educationalists that will positively influence the lives of the prisoners. According to the studies by the University of Missouri, it was found that inmates who earned their General Educational Diploma Certificate (GED) in prison had a higher rate of getting employment and, consequently, less likely to repeated crime. The research showed a 33% decrease in the likel ihood of recidivism on the inmates who obtained a full-time job. Implementation of PERU will ensure that inmates acquire technical skills that will match the needs and preferences of the contemporary labor market and in a position to obtain employment. The PERU program will ominously improve prison vocational education and resolve the

Letter to investor + MACROECONOMIC OUTLOOK (by region) Essay

Letter to investor + MACROECONOMIC OUTLOOK (by region) - Essay Example As compass helps a sailor in sailing to the right direction, our portfolio also helps the invested funds to move towards appropriate path of earning higher returns. Thus we expect that our portfolio is going to excel the benchmark and will beat the benchmark in near future. Our aim is to hit the MSCI benchmark that is our benchmark. We follow the strategy of efficiently allocating invested funds by investing largely in large or medium cap business enterprises. Our key strategy is to direct the funds towards value stocks as the time period of this portfolio is very short, only one year. This short time horizon does not allow us to put our prime focus on growth stocks. However, it does not mean that we never invested in growth stocks. In fact, we have invested in the growth stocks of Information Technology industry as it shows the best opportunity. We attempt to invest in defensive stocks to avoid cyclical economic fluctuations. It will take some time for the global economy to recover fully from the shock of the recent recession. Defensive stocks are able to generate higher returns than others during troubled times. In terms of geographic segmentation of invested funds, we efficiently divided our funds between the USA, Europe and the rest of the world. Since the USA is the largest economy of the world and it is recovering at a very fast pace, majority of funds is invested in the USA. The second largest part of the funds goes to European nations as they are performing better than the other countries of the world after the USA. The rest of the world gets the remaining funds. Again, thank you for investing with us. Sincerely Xxxxx MACROECONOMIC OUTLOOK United States The Unites States is the economic superpower of the world. But the recent economic recession was originated in this country. U.S.A has always been a dominant economic power in the world and it accounts for approximately 21 percent of the world economy. U.S. economic recession was held responsible for the global economic downturn as U.S. economy always influences economies of other countries in a major way. The major factor that has caused this huge economic downturn in U.S.A. was a huge credit crisis. The credit crisis is held responsible for the closure of a number of investment banks across the world. This credit crisis actually originated from the U.S. home loan market. This credit crisis was triggered by busting of a housing market bubble in 2006. The prices of housing started to fall rapidly since 2006 and the market collapsed. The fall continued throughout 2007 and 2008. With the starting of the year of 2008, U.S. sub prime-mortgage market started to encounter several problems, which appeared to be difficult to deal with. These resulted in an application of huge correction in this market, which had great implications for making credits more costly across the world. With the implementation of this correction, a large number of banks of the America, European countries as well a s of Asia had been forced to write down billions of dollars in their holdings. More shocking thing was that a number of well-established and reputed banks like Lehman Brothers had to file for bankruptcy. The bankruptcy of Lehman Brothers is considered to be the biggest ever case of bankruptcy in the history of U.S. Since 2008, more than 80 firms in U.S.A. only have filed for bankruptcy and a large number of firms have appealed to the government for financial

Andrew Landers Project Essay Example | Topics and Well Written Essays - 1000 words

Andrew Landers Project - Essay Example This research will begin with the statement that music is the air we breathe and the water in our rivers. Listening to music that is different then what we would normally listen to is important to expand our knowledge and to learn appreciation. The researcher states that Andrew Landers is a musician who writes his own music and practices a mixture of folk and blues with a percussive approach that leads one into the music and works hard to keep them from leaving. On his website, he writes that he loves hot wings and his â€Å"hot† wife. He goes on to describe his family of 5 boys and one Cinderella and then partially describes his playing style and what he uses to play. In this case, he works specifically with acoustic guitars and depending on the venue or his mood he will use one of three that he has. (Landers) Influences for his music range from Johnny Cash to Jack Johnson and his music does have a very Jack Johnson vibe to it. This essay discusses that this group the Andrew Landers Project also includes a talented pianist Matt Podschweit. A little more background would be nice, however, given what he sings about and how he approaches the audience says as much or more than a bio ever could. The concert had more than just these two involved though this is their normal retinue. Unfortunately, I do not recall the other names involved at the concert as the musical experience made it easy to forget the introductions. Music Type Folksy blues music is not always easily understood. Folk music can be defined as music from the mouth, singing music. And is a popular approach to music around the world. With some musical accompaniment the individuals sing stories and tales. Blues is a music form that originated with the African Americans in the United States, it is a form of music used to convey the hardships and passion experienced by them and is commonly seen as an evolution of the West African musical approach. (The blues 1) The mixture of folk and blues brings an earthy sense to the drifting, haunting musical qualities that make blues popular. The Andrew Landers project does a very good job of bringing the music together with the message and ensures a pleasurable experience and with a true blues approach. With every new song it becomes apparent that his musical styling’s are very much influenced by the popular Jack Johnson who is also a master at using music to tell a story we can all relate to. Location and time of concert The concert itself was February the 4th 2011 at the Redstone Room in Davenport Iowa. This venue is located on the second floor of the not-for-profit River Music Experience building and allows seating of 250 persons. (Redstone Room 1) The Redstone Room allows a very intimate approach to music and is a perfect venue for a folk/blues musician such as the Andrew Landers experience. The concert itself was a great mix of intimacy and tonal qualities that made it difficult to leave when it was over. In looking back it seems that if he was in a larger venue it may be easy to lose the genuine feeling his music and approach allows in this much smaller yet still classy environment. If you are a music lover and have a chance to stop in Davenport Iowa make sure you check out one of the acts at the Redstone Room, it is an experience that cannot be duplicated regardless of your experience. With a great coffee shop in the ground floor and some refreshments available it made it an all-around beautiful experience. Personal observations and opinions The song â€Å"A son of a preacher man which I resemble† was played and it immediately garnered my attention. As he sings through the tonal lyrics the accompanying guitar work makes it difficult to turn away. The lyrics themselves were light enough to easily enjoy and still put a deep message across,

Barclays Bank Retail Banking Strategy Essay Example | Topics and Well Written Essays - 2000 words

Barclays Bank Retail Banking Strategy - Essay Example Some of these are helpful for every firm in the industry and are called opportunities, while others bring bad news for everyone and are regarded as threats. Besides these forces in the external environment, a particular firm may have internal strengths such as the skill and experience of its staff, or weaknesses such as frequent labor disputes because of lack of clearly defined polices for staff and workers. In sum the fortunes of the firm are dependent on how well its management deals with business opportunities and threats, while using the strengths of the firm to take advantage of the opportunities and minimize the effect of the threats through clever planning and strategic implementation of its vision for the company. This is what is called strategic management- or the planning and implementation to achieve its desired plans in the marketplace in the face of these internal and external forces. The legal, political, sociological, economic and other environments may pose a number o f challenges that must be overcome by the business if it is to survive and prosper in the marketplace. Barclays Bank PLC is one of the key players in the worldwide banking industry as well as in India and this paper will discuss how successfully it has managed to meet the challenges faced by the banking sector in India. II. Overview of the Banking Sector in India The major Indian banks can be classified under three categories in terms of ownership:(1) Public sector banks such as State Bank of India, the Bank of Baroda, Bank of India, Punjab National Bank and Canara Bank; (2) Private sector banks such as ICICI Bank and HDFC Bank; and (3) Foreign Banks such as Citibank, Barclays Bank of India and Standard Chartered Bank. By December 2008, there were 28 public sector banks, 29 private sector banks and 30 foreign banks, in addition to other regional and cooperative entities. The banking sector in India is one that is full of intense competition. Lately the banking sector, which had been hit by the worldwide 2007-2008 economic recession, has been in recovery mode and efforts are still being made to put the sector back on track. The recessionary trend saw a decrease in the percentage of consumer lending from 29.9 percent in 2007 to just 17.1 percent in 2008. The major contractions were seen in the autos, housing, personal loans and consumer durables sectors. III. Supervision and Control As in most nations of the world, the outlook on monetary policy and regulation of the financial system lies with the Central Bank. In India, this is the Reserve Bank of India (RBI). In keeping with the special functions of a central banking institution, it is also the issuer of local currency as well as the manager of foreign currency reserves and regulations in India. In the same fashion, the Securities and Exchange Board of India is the regulatory body that monitors stock market transactions and compliance with the rules. India also has an Insurance Regulatory & Development Authori ty like the FDIC in the USA that is responsible for protecting the interests of the policyholders. Â   IV. The State of the Retail Banking Sector in India Retail banking has been the major hub of activity in recent years. The banks have classified their customers into three major groups- consumer, small business and corporate. It has been acknowledged that the progress of retail banking would most likely rest of four pillars: innovative offerings, distribution optimization, quality of management and shared system/back-office. Barclays has adopted an innovative strategy upon its entry into India in 2008. Banking today can be characterized by the different products that are being dealt with, such as investment banking, asset management or debt management, or by the type of customer dealing, such as Wealth Management

Chemistry IA design format Essay Example for Free

Chemistry IA design format Essay 1.0.0- Introduction 1.0.1- Focus Question- If the mass of magnesium reacted with hydrochloric acid is changed will the temperature of the solution increase and the total mass decrease. 1.0.2- Hypothesis- If the mass of magnesium that is reacted with hydrochloric acid is changed the temperature of the solution will increase and the total mass will decrease. 1.0.3- Theory- The reaction between magnesium and hydrochloric reaction is written as follows, Mg(s)+ 2HCL (aq) (MgCl2(aq)+H2 (g) (Ng, 2008, pg 1). This reaction goes through two distinct changes that both have an effect on the energy change in the reaction. Enthalpy refers to changes in energy in a compound (Assut, 2008, pg 1). Two distinct changes can occur. An endothermic change occurs when the energy being absorbed is grater then the energy being released whereas and exothermic change is when the energy being released is greater than the energy being absorbed. Energy is absorbed when bonds are broken and energy is released when they are formed (Newton, 2008, pg1). Energy change cannot be directly measured. However energy change affects the physical force of heat. Therefore a heat change is indicative of an energy change. If the heat increase in the solution the change will be exothermic and if the heat decreases the reaction will be endothermic. In respects to the formula Magnesium forms an ionic bond with chlorine to form the salt magnesium chloride. When this bond is formed energy is released in the form of an endothermic change, this energy drop would be quite small however because the bond is ionic and does not take much energy to create since magnesium and chorine bond easily. However the second change is that hydrogen breaks off from chlorine in the hydrochloric acid and hydrogen is released as a gas. The breaking of bonds would absorb energy therefore forming an exothermic reaction. Hydrogen and chorine however form a very strong covalent bond. Covalent bonds form between atoms with similar electronegative forces and are there for take a lot of energy to break ( Anissimov, 2008, pg 1) Since the endothermic change is weak and the exothermic change is strong it can be predicted that the overall change will be exothermic and therefore the solution will heat up. Temperature change in a chemical reaction can be measured with a device known as a calorimeter. A calorimeter measures the heat of the solution before the reaction has occurred and then again after the reactant has been added (Whel, 2008, pg 1). These two values can be mathematically manipulated to find the relative change in temperature. If two of the same substance have different masses it means there is more of the one substance. In a mass of a substance there is a certain amount of material that can be reacted. By increasing mass the amount of substance that may be reacted increases. Therefore if mass increased the amount that of substance reacted will increase as well providing there is enough of the reactant. This will in turn increase the energy change. Also if more of the substance reacts with the reactant more of the reactant will be used up. This means that if the magnesium is increased there will be more reaction with hydrochloric acid; this means that more hydrogen will be released as gas and the total mass of the solution will decrease. Henceforth the change in heat should be greater if their entire solution is lighter as more of the hydrochloric acid has been reacted and hydrogen lost as a gas. How the reaction works (Figure 1) Mg(s)+ 2HCL (aq) (MgCl2(aq)+H2 (g) 1.1.0- Controlling variables 1.1.1- Variables (Table 1) Variable Type of variable Method for control Mass of magnesium Independent Mass will change for each sample, sample range will be 2g, 4g, 6g, 8g and 10g Heat change Dependent This will be calculated by subtracting the final heat of the solution by the initial heat of the solution. The data will be gathered by using a calorimeter Change in mass in solution Dependent This will be calculated by measuring the weight of the solution and subtracting the weight of the calorimeter and the magnesium. The original mass not including calorimeter and the magnesium will then be subtracted by this value to mind the change of mass in the solution. Initial temperature Controlled The temperature of the solution will be heated to 25c and the reaction started immediately. External temperature Controlled The room temperature will be controlled at 24c Volume of hydrochloric acid Controlled The volume of hydrochloric acid will be 40mls per sample. Measuring apparatus Controlled A 50ml calorimeter with electronic thermometer and a scale with milligram accuracy. Time of experiment Controlled The experiment will be ended when reaction is fully complete and reaction will be given 10 seconds to calibrate before results are taken Replications Controlled Standard 5 replications of each sample will be performed. 1.1.2- Control used in comparison- The reacted samples will be compared against hydrochloric acid with no magnesium that is also 25 degrees Celsius. Since the temperature remains constant there should be no energy or mass change, this would mean that on a graph this would represent a straight line which others samples with energy changes (heat changes) could be compared to. Bibliography Ng, H.N, 2008, Acid reactions, Vat.Gov.Un, Accessed 21/08/09, http://vat.maharashtra.gov.in/communicationcenter/QueryAnswerSubjectwise.php?start=3090subId=0000000007. Asset, M.A, 2008, Chemical Enthalpy, Nasa.gov, Accessed 21/08/09, http://www.grc.nasa.gov/WWW/K-12/airplane/enthalpy.html Newton, R.N, 2008, Energetics and bonding, Unknown sponsor, Accessed 21/08/09, http://www.webchem.net/notes/how_far/enthalpy/enthalpy_diagrams.htm Anissimov, T.A, 2007 Chemical bonding, Simon Frasier University, Accessed 21/08/09, http://www.chem1.com/acad/webtext/chembond/ Whel, L.W, 2006, Calorimeters, Stanford University, Accessed 21/08/09, http://www2.slac.stanford.edu/vvc/detectors/calorimeters.html Acknowledgments The procedure of this experiment is a adaption of a previous class experiment. The source of the procedure is unknown, so thanks to Miss Crook for the inspirations for this design.

Self Managed Teams And High Performance Work Practices Business Essay

Self Managed Teams And High Performance Work Practices Business Essay HRM Coursework:-Discuss and analyze how an organization can achieve a connection a between its strategic and human resource management. Introduction: The aim of this assignment is to analyze the relationship between Strategic and Human resource management (HRM). It explores the developing role of HRM in providing a strategic dimension to an organization. This essay identifies a number of critical organizational behaviors in corporations that seek to inter-link its HRM practices with its strategy. Companys Strategies should be formulated by considering the human resource aspects and the human resources should be managed based on the companys strategies. In fact, the consequences of liberalizations, privatization and globalization viz., competition, Quality, low cost, high speed in delivery, customization and customer relationship, made the CEOs of Various companies to include the human resource aspects in the strategic management process and manage the human resources based on the companies strategies. As such, strategic human resource management gained its significance in the post liberalization period. Now, human resource manager, in most of the companies, is a member of strategic management team. (Ref P. Subba Rao book) Strategy (ref P. Subba Rao book) Increasing the sales of Suzuki by 1lakh motor cycles in 2012 is one of the objectives of the company. It can be attained by increasing the fuel efficiency, reducing the price of the through reducing the production costs or by improving the design etc. Increasing the fuel efficiency or reducing the costs are the strategies. Strategy, in simple terms, is a unified course of action to achieve the goal. Glueck defined the strategy as Unified, comprehensive and integrated plan designed to ensure that the basic objectives of the enterprise are achieved Henry Mintzberg views that strategy need not be the outcome of rational planning. With this view, Mintzberg defines strategy as, a pattern in a stream of decisions or actions The pattern of decisions or actions is aimed at achieving the goals and objectives of the company. Human resource management The function within an organization that focuses on recruitment, management and providing direction for the people is known as Human resource management. It also deals with issues related to people such as hiring, compensation, employee motivation, performance management, safety, wellness, training, benefits, administration, communication and organizational development. HRM manages the relationship between the management and the employees. Whatever definition we use for defining HRM, It is all about people in organizations. No wonder, in some MNCs (Multinationals) HR managers are called People managers. Nowadays, HR manager or People manager is no longer seen doing the activities or work described in the traditional way. In fact, most organizations have different teams dealing with payroll, retention and staffing etc. The HR manager is responsible for managing employee fulfillment and realization of management objectives. Difference between Strategic HRM and HRM Human resource management is a strategic approach to the management of employees. As explained earlier, it mainly deals with the recruitment, compensation etc. There are no specific rules for HRM whereas in Strategic HRM, there are specific rules specified for specialized fields. SHRM mainly focuses on programs with long term objectives. Unlike the traditional HRM, Strategic management uses many strategic methods and systematic tools for increasing employee motivation and productivity. The strategic HRM represents the latest shift that explains how the continuing training and development of employees can directly contribute to wider performance and function of the firm. (See Delery and shaw, 2001; Mathis and Jackson, 1999). Armstrong (2006a) explains the above notion in a brief summary by stating that: The Fundamental aim of strategic HRD is to enhance resource capability in accordance with the belief that the human capital of an organization is a major source of competitive advantag e. It is therefore about ensuring that the right quality people are available to meet present and future needs. This is achieved by producing a coherent and comprehensive framework for developing people. Whereas HRM realizes the important contribution employees make to the life of the corporation but does not make a direct impact to its performance. SHRD argues how an organization where employees realize new opportunities of growth and where they are able to utilize new potential represents an interrelated link with the working of the organization and its performance. SHRM argues that the role of the employees should be managed and aligned to the wider corporate objective of its management. Performance Appraisal Performance appraisal is a process of assessing the performance of an Employee compared to the standard/pre-determined level set by the organization according to its objectives. Performance appraisal indicates the level of desired performance by the employer, actual performance of the employee and the gap between these two. Performance appraisal is useful for deciding upon employee promotion, salary determination etc but recent developments in the human resources management indicate that performance appraisal is the basis for employee development. The basic objective of Performance appraisal is to take a measurable account of its employees with positive or negative performance so that the organization is able to have a better control over its operations and accordingly forecast work. Armstrong explains how Performance management reviews provide the inputs required to create personal or team development plans, and to many people performance management is essentially a development proc ess. Performance reviews can, however, produce data in the form of individual ratings, which may be used as the basis for performance-related pay decisions. Performance appraisal can be of benefit if it is exercised in a positive way, even though measuring of performance is a positive way in detecting strengths and weaknesses of an employee such kind of exercises can be perceived as intimidating by the employees leading to issues like demotivation and lack of enthusiasm at work. According to Wiese and Buckley (1998) some of the advantages of a performance appraisal system are that it facilitates organizational decisions such as rewards and recognitions, promotion/demotions, layoffs/recall and transfers. It may also assist managers in developing employees. It serves to assist individual employees decisions regarding career choices and the subsequent direction of individual time and effort. Additionally, performance appraisals may increase employee commitment and satisfaction due to improvements in organizational communication. The exercise of PA systems play a very important role in organizations that seeks to integrate HRM with its strat egy because of the belief that managing and assessing the performance of each employee has a direct relation with the performance of the corporation as a whole. It is a very essential process to understand and improve the employees performance through HRD (Human Resource development). The process of HRD helps the employees to develop technical, behavioral knowledge, skills and abilities, beliefs and attitudes necessary to perform and attain future goals. Performance appraisal is the basis for HRD. The question however arises what kind of performance will be appropriate to produce the required satisfaction amongst employees in order to get positive performance as well as point out areas of improvements when weaknesses are detected? Many authors support the argument across a wide spectrum that Performance appraisal systems, cannot in themselves, become a positive resource for improvement in the organization. Performance management system can be manipulated by the members of the organization. For example, the line manager can deliberately give low scores to an individual if the person has any personal grudges against him/her, to send a message to someone that they should consider leaving the organization to speed up termination. All of the above features indicate how people deploying the performance appraisal can use it in a number of ways and according to their interests. Self-Managed Teams and High Performance work practices. Self-Managed Teams are believed to contribute to an increase of input and efficiency and it has become a popular way of organizing an employees working environment. It said that by being self-managed, employees get a greater sense of responsibility which leads to a more innovative decision making and greater performance. In using the work by Sirking (1993) Elmuti (1997) argues that Self-Managed Teams programmes can produce greater satisfaction, reduced costs, faster and better decision making, improved pricing, and increased market share. Elmuti (1997) makes the distinction between two most popular approaches to self managed teams, namely a) work teams and b) problem solving teams. Elmuti (1997) argues that A problem-solving team is similar to a taskforce in that it is formed for temporary purposes. While problem solving teams are temporary, work teams, which are used by two-thirds of US companies, tend to be permanent. Rather than attack specific problems, a work team does day to day work activities In addition to the above, the study of self-management has been an issue because of lack of appreciation from the management for the employees contribution and decision making. The question remains of whether the hard work and commitment of the employee is evaluated and recognized by the organization. From the above discussion, we understand that the use of Self-Managed teams can be a win-win situation, when the individual contribution to the organization is being recognized by exercising proper evaluation process. It can also be a loss-win situation for the employees when they do not get any profit from their innovative ideas which help the organization. At the same time, it can also be loss-win situation for the organization when the employees do not take advantage of their independence and become unproductive for the organization. High Performance work practices. The study of SHRM focuses on high performance work practices (HPWP) because it can lead to higher level of performance when implemented. De Waal (2007) argues that high performance organizations (HPO) share some certain characteristics like strong financial results, satisfied customers and employees, high levels of individual initiative, productivity and innovation, aligned performance measurement and reward systems, and strong leadership. There is not much difference between HPWP and HRM, In fact HPWP aims at strengthening specific set of relationship within HRM practices. Huselid argues that certain criteria must exist if human resources are to be a source of competitive advantage: first, the individual performance significantly affects the organizations productivity; second, that the skills must be rare, and finally that the human capital is difficult to imitate. Performance Management (PM), Learning and Change Management. Performance Management system is the associated with measuring the employees performance against the criteria introduced by the management or from the discussion with the employee. Organizations operating in the service sector (e.g. Call Centre) often want to measure whether the employee initiated proper contact with the customer, whether all questions asked by the customer was answered in a professional manner resembling the values and principles of the organization. Authors argue that PM should not only point out the different targets to be met by the employee but also provide the necessary learning structures so employees are able to develop the right competencies to meet them. Kirkpatrick, (2006) also argues that In an extensive study on performance reviews, researches at general electric came to the following conclusion: Implicit in performance appraisal programs are now structured and include two distinct objectives: 1) letting a person know where he or she stands via ratings a nd salary actions, and 2) Motivating him or her to improve The learning or change management is about introducing employees to new or different knowledge areas that needs to be developed in order for them to meet their targets. Armstrong (2006b) rightly argues how: Discussions takes place on ways in which the individuals role could be developed so that it becomes more challenging from the view point not only of new tasks to be accomplished but also need to acquire or extend knowledge and skills to carry out those tasks. A-One Bakery A-One bakery is one of the leading bakeries in the Indian Market. They have approx 800shops nationwide; it has been maintaining a reputation for freshness and quality for years now and because of this A-One has won a trust of many customers, overtime. Rolls, Samosas, pastries, Cake, doughnuts and soft drinks are some of the products it deals with. There are many small shops and malls where A-One supplies its freshly made products hence due to the difficult logistics demand, employees play a critical role in the large selling and manufacturing targets. In order to achieve customer satisfaction one of the important activities of A-One is that it keeps a personal interaction with the customers at the time of selling despite the fact of distribution of products from the central bakery around the country. By examining the companys published information and report. It is clear that A-Ones envisaged expansion is achieved by not positioning the role of its employees at a strategic level. The companys function which is not perceived as critical is supported by the role of employees. The image of the corporation is improved by the involvement of the employees within the wider community. In addition to that, little information is provided by the company about the competencies and skills that might be needed by the employees in order for them to apply it in different depts. Reference is made to different sections such as: Marketing, purchasing, food/health and safety, finance, IT etc. Even though the above presentation of A-One bakeries treatment of its employees might not reflect the working of its staff environment, it is clear that the strategic importance on its people is not placed by the company. In contrast, the corporation emphasizes more on expansion of its products, marketing practices, opening or more stores worldwide and use of more robust advertising. The company would have positioned the areas of employee development, learning and training as more central to its growth. Creating a more strategic HRM focus. After examining a number of key areas constituting important strategic approach to HRM, It can be argued that A-One bakeries is able to incorporate some of the traditional practices in order to provide a more strategic edge to its recruitment and retention of employees. For identifying the areas of improvement and strengths, there can be a performance appraisal system introduced. More explicit areas of improvement within its HRM can be identified by the company that would be supplemented with the strategy to be committed in addressing the identified needs. Similar to the marketing and advertisements, a specific budget should be introduced for training and development of employees. There is absence of different forms of empowerment and involvement even though distinction is made by the company in regards to the working environment. Instead of following the traditional way of HRM, they could be rewarding the innovative role of its staff and how they have contributed towards the company s growth and current achievements. Despite of the recruitment of large number of employees, it can be surprising to know that the presentation of the targets by the company is loosely defined. A-One bakery might be serious about its performance targets and growth but they should communicate this clearly and explicitly to the current and future employees. Conclusion. The aim of this assignment has been to analyze how an organization can achieve a connection a between its strategic and human resource management. This Essay argued that the changing role of HRM is an indication of the development of Strategic HRM as compromising a much more critical role than it did in the past. This essay identified four areas which are critical for developing a strategic approach to HRM and also provided a literature review on them. All of the above practices aim at providing a more explicitly measured as well as managed role and performance of the employees. The improvement of the corporation as a whole is believed to be a result of training and development of the employees. By examining the case of A-One bakery, this essay identifies how an organization does currently possess a strategic focus on its HRM practices. The employees are seemed to be treated as functional role providers translating into the manufacturing and selling practices. In order to develop a s trategic focus to its HRM functions, A-One needs to be more committed towards training and development as it is an important perquisite to its wider corporate performance.

The liberlization and privatization of the indian economy

The liberlization and privatization of the indian economy Rajiv Gandhis government initiated the policy of liberalization since mid-80s. The liberalization initiatives have been undertaken in India with a view to increase a production, improve quality and get access to market for products and service abroad. Radical liberalization or globalization measures have been brought in since July 1991 to make the Indian economy progressively market oriented and integrate it with the emerging global economy structure. These measures include reduction and rationalization of excise duty and customs duties, delicensing of several drug and pharmaceutical products, ready access to import of raw material and capital goods and so on. It has created an environment conducive to an enterprise, investment and innovation. Indian industries have started to attract foreign portfolio investment and equity participation in new ventures. The government is committed to make foreign players feet at ease to invest directly and bring with it new technology and marketing skills. There has been impressive growth in FDI inflows to India with the introduction of policy reforms. As compared to a near total concentration in manufacturing till 1991, the bulk of new inflow has come in the energy and service sector. Liberalization The New Industrial Policy, 1991 A number of significant economic changes introduced by many a number of countries all the world over, the encouraging results of the liberalization measures introduced in 1980s by the Government of India, and the precarious economic situation that prevailed during the later part 80s have encouraged and forced the then Congress government, which came back to power at the center, under the leadership of Shri. P. V. Narasimha Rao-a non Nehru family member, to take some bold measures to rejuvenate the economy and to accelerate the pace of development. In this background, the Government of India announced its New Industrial Policy (NIP or IP) on July 24, 1991. The important objectives are: (a) to correct the distortions that may have crept in, and consolidate the strengths built on the gains already made, (b) to maintain sustained growth in the productivity and gainful employment, and (c) to attain international competitiveness. Therefore, the basic philosophy of the New IP, 1991 has bee n the continuity with change. Because, the new policy represents a renewed initiative towards consolidating the gains of national reconstruction at this crucial stage. But what is more important is the change (in continuity with change)-change in the attitude of the state towards the industrial society, change from centrally planned economy to market led economy, change from excessive government intervention to minimal intervention, change from nationalization to privatization, change from subsidization and cross-subsidization to gradual withdrawal of subsidy, etc. But these changes, which the government has introduced, represent a sharp departure from the earlier industrial policies. These changes pertain broadly to five areas viz., (a) Industrial licensing, (b) Public sector policy, (c) MRTP Act, 1969, (d) Foreign investment, and (e) Foreign technology agreements. Industrial Licensing This is one of the areas in which substantial change has been made by the government. With a view to give effect to these changes, the government issued a notification [viz., Notification No. 477 (E)] on July 25, 1991 and this notification has exempted the industrial undertakings from the operation of the following Sections of Industries Development and Regulations Act, 1951 subject to the fulfillment of certain conditions. Section 10 (which deals with registration of existing industrial undertakings); Section 11 (which is concerned with the licensing for new industrial undertakings); and Section 13 (which is concerned with the licensing requirements for substantial expansion). Further, the second schedule appended to the notification cited above [viz., No. 477 (E)] lists the industries which are subject to mandatory industrial licensing. According to this notification, only 18 industries were subject to compulsory industrial licensing. Further, five more industries have been excluded from the list of industries which are subject to compulsory industrial licensing subsequently. That means, only 13 industries are now subject to compulsory industrial licensing. Public Sector Policy A large number of Public Sector Enterprises have failed to achieve at least a reasonable rate of success. Some of the factors which have contributed to this situation are over staffing and over managing, price and distributions controls, etc. Hence, the government, in its Industrial Policy, 1991, introduced the number of significant changes pertaining to the PSEs. Some of the important changes envisaged by the New Policy are summarized below. Prior to the announcement of New Industrial Policy, 1991, seventeen industries were reserved exclusively for the state for their future development. Further, with respect to another 12 industries, the state was to play an important role by taking initiative to establish new undertakings. Besides, the state had power to enter into any other area reserved for the private sector. However, the failure on the part of majority of PSEs has forced the government to review its earlier decision. Consequently, the government in its New Industrial Policy, 1991 has pruned the list of the industries reserved for the public sector to only 8. Further, the government has dereserved 2 more industries. As a result, only six industries are now reserved for the public sector. They are: (a) Arms and ammunition and allied items of defence equipment, aircraft and warships, (b) Atomic energy, (c) Coal and lignite, (d) Mineral oils, (e) Minerals specified in the schedule to the Atomic Energy Order, 1953, and (f) Railway transport. Hence, the focus of the public sector will be only on strategic and high tech industries and on basic infrastructural projects. However the objective of the New Industrial Policy has been to withdraw the public sector investment from the activities which can successfully be taken up by the private sector enterprises. The emphasis of PSEs in future will be on: (a) Basic and essential infrastructural facilities, (b) Mineral resources, (c) Crucial areas in the interest of the economy in the long run and where the private sector investment is inadequate, and (d) Defence equipment. With a view to mobilize the resources and to have a wider public participation, apart of governments share holdings in its enterprises will be offered to the mutual funds, financial institutions, employs of PSEs, and the general public. The New Industrial Policy also proposes selective privatization of PSEs. Further, the policy also proposes to close down the PSEs which have become sick and which cannot be rehabilitated. The sick PSEs which can be revived will be refered to Board for Industrial and Financial Reconstruction for the formulation of revival packages. The New Industrial Policy also aims at providing greater operational and managerial autonomy to the management of PSEs and making the managements accountable for the performance through a system called Memorandum of Understanding. MRTP Act, 1969 The New Industrial Policy, 1991 proposes to amend suitably the Monopolies and Restrictive Trade Practices Act, 1969. To remove the threshold limits of assets in respect of MRTP companies and the dominant industrial undertakings. The important objectives of this were two in number. They are: Prevention of concentration of economic power in the hands of few which will be detrimental to the common interest; and Regulation of monopolistic, restrictive and unfair trade practices which are pursued by the business community and which are prejudicial to the public interest. The New Policy proposes to renew the threshold limits of assets and therefore, to repeal the Provisions of MRTP Act, 1969 pertaining to the first objective. Hence, the MRTP Act now concerned only with the prohibition of monopolistic, restrictive and unfair trade practices followed by the industrial undertakings and the trading communities. Foreign Investment As far as the direct foreign investment is concerned, the New Policy proposes to give automatic approval up to 51% of equity in the case of high priority industries and it has also identified 34 such industry groups. Further, the policy proposes to allow majority foreign equity holdings up to 51% of equity for the trading companies which are engaged in export activities. This is to enable the domestic companies an easy access to international markets. With a view to negotiate with the large international financial institutions and to approve the direct foreign investments proposals in selected areas, the New Policy proposes to constitute a special committee. Foreign Technology Agreements The New Industrial Policy proposes to give automatic permission for foreign technology agreements in identified high priority industries. Further, it also proposes to allow other industries to import foreign technology subject to the fulfillment of certain conditions. Conclusion The New Industrial Policy, 1991 certainly differs significantly from the earlier philosophies, approaches, etc. of the government. For instance, prior to 1991, scope of public sector was expanded by reserving more number of industries for the public sector. But now, its scope has been reduced drastically by reducing the number of industries reserved for the public sector. Like this, a large number of changes can be noticed in the new policy. This process has been continuing even in post liberalization era. Adding to this, the government has taken a number of steps to give effect to its policy decisions included in the New Industrial Policy, 1991. Though the economy has been benefited significantly from these measures, the economy has not been able to reap the full benefits of the Economic Reform Package owing to the political instability, etc. Privatization Privatization of PSUs Majority of the industrial enterprises in the public sector have failed to achieve the desired result. Of course, a number of factors-internal and external, controllable and non- controllable are responsible for his precarious performance. A look at the history of public sector undertakings (PSUs) in the country reveals the continuous expansion in the role of PSUs. Consequently, a number of enterprises have been established and huge amount of borrowed capital has been employed by the state even in the non-core, non-strategic and not so essential area. Hence, the state has made a number of changes in its New Industrial Policy announced on July 24, 1991. Introduction In the sixties and seventies, the public sector policy has been largely guided by Industrial Policy Resolution, 1956 which gave the public sector a strategic role in the economy. During the last four decades, massive investments have been made to build a public sector which has a commanding role in the economy. Today, many key sector of the economy are dominated by the mature public sector enterprises that have successfully expanded the production. In the early post-Independence years, there was virtual consensus about the need for the government intervention in economic activities. Pandit Jawaharlal Nehru described the public sector as Temples of Modern India. At that time, virtually neither questioned the strategy nor raised any doubts about its implementation. The number of central public sector enterprises increased from 5 in the year 1951 to 240 by the end of 1995 and investments in public sector undertakings (PSUs) increased from Rs29 crore in 1951 to Rs. 1,72,438 crore by the end of 1995. They contributed nearly one third of our exports. They made significant contribution to import substitution. Government undertakings account for more that 70% of the work force employed in the organized sector. They have greatly reduced the imbalanced of regional development and have laid strong base for the rapid development of the country. Some of the PSUs have earned a reputation par excellence at the international level. Some giant public sector units (e.g., Indian Oil Corporation, Steel Authority of India, Oil and Natural Gas Commission, Hindustan Petroleum Corporation Ltd., Coal India Ltd and Bharat Petroleum Corporation Ltd) figure in Fortune Internationals large companies. Further, the public sector accounts for one-fourth of the countrys GDP. There are two million employees in government undertakings and the average emoluments per annum amount to more than Rs.50, 000 each. Besides paying higher salaries, public enterprises assure job security, good working condition, attractive incentive scheme, participative management, higher degree of safety, adequate facilities, etc. Meaning of Privatisation The revolution of privatization started in 1980 and spread to many parts of the world. Several countries are privatizing their public sector enterprises. India is no exception to it. Privatization was meant to improve the performance of public enterprises. Privatization techniques have been tried in countries like Great Britain, China, US, Turkey, Brazil, Mexico, Japan, etc. Privatization, in the narrow sense, means transfer of ownership, or sale of public enterprises. However, privatization has been used in different ways as detailed below: Liberalization Approach: Privatization may be used in the sense of liberalization having fewer controls and regulation by the state in economic activities. This also means slowing of new controls and regulations and also dismantling of the existing controls and regulations. Relative Share Enlargement Approach: Privatization may relate to enlargement of the share of private enterprises in the production of goods and services in the economy. This means that faster economic expansion of goods and services produced by private sector and slowing down of production of goods and services in the public sector. Association of Private Sector Management Approach: This approach suggests utilizing the services of managerial personnel or executives of private sector enterprises for the conduct and management of PSUs. Transfer of Minority Equity Ownership Approach: Privatization may be defined as the transfer of minority equity ownership of public enterprises to private individuals and institutions so that the ultimate control continues to remain with the state. Transfer of Complete Ownership Approach: Privatization is also used in the sense of sale of all the shares to the private parties so that the public enterprises are converted into private enterprises. In India, privatization is taking place by adopting two common methods viz., (a) Having fewer controls and regulations by the state in economic activities, and (b) Transferring ownership of state equity in PSUs to private individuals and institutions. Benefits of Privatization It is expected that privatization will ensure the following benefits: Increasing overall efficiency: Improvement in the quality of management and decision making: No government financial backing, and therefore, capital market will compel these enterprises to be more efficient; Substantial reduction in governments budgetary support resulting in reduction in budgetary deficit; Recovery of government fund which could more productively be used in development activities; Reduction in political and bureaucratic interferences; Better industrial relations management; etc. Shortcomings Though the PSUs have contributed heavily to develop the industrial base of the country, they continue, even today, to suffer from a number of shortcomings which are identified below very briefly. A sizable number of PSUs have been incurring and reporting losses on a continual basis. Consequently, a large number of PSUs have already been referred of BIFR; Multiplicity of authorities to whom the PSUs are accountable; Delay in implementation of projects leading to cost escalation and other consequences; Ineffective and widespread inefficiency on management; Many PSUs are operating without the leader (i.e., chief executive or chairman); With a view to provide opportunities for more and more unemployed youths, more number of people, than required, were recruited and therefore, many PSUs are over-staffed resulting in lower labour productivity, bad industrial relations, etc.; un-remunerative pricing policy; and A number of sick companies (40 companies) which were in the private sector was taken over by public sector mainly to protect the employees. These sick units are causing a big drain on the resources of the state; etc. Methods of Privatization There are four important modes of privatization. They are: Franchising, (b) Contracting, (c) Leasing, and (d) Disinvestment. In India, disinvestment of government share of equity in PSUs is predominant. It started in 1992 immediately after the New Economic Policy in a phased manner. The main criticism of disinvestment of shares of PSUs in India is that it has been partial and half-hearted. There seems to be no plans to disinvest completely. The government still would like to keep a dominant control. 39 companies have been proposed for disinvestment till 1995-96. All the companies proposed for disinvestment are central PSUs. No state level PSU has been proposed for disinvestment. It could only disinvest 1% to 35% shares of PSUs on an average. It is also observed that the shares of efficient and profit-making companies are disinvested more than the companies which are potentially sick or sick companies. The disinvestment percentage is also not much in loss-making and inefficient units, thereby defeating the purpose. The Finance Ministry has also explained that the government is consciously not off-loading larger chunks of its holding. The Rangarajan Committee has suggested that government holding in public sector undertaking must be less than 50%. But partial disinvestment will be of no avail to change the culture in the public sector undertaking. Future Plans of Government The following are the future plans of government: Strengthening strategic units, Privatizing non-strategic units by (1) Gradual disinvestment, and (2) Strategic sale, and Devising suitable rehabilitation package for weak units. Conclusion The privatization process launched with all seriousness after the announcement of New Industrial Policy, 1991 was a failure. The state must accept this and take necessary steps either to privatize or to improve the efficiency and performance of PSUs. GLOBALISATION Introduction: The expansion of economic activities across political boundaries of nation states. More important, perhaps, it refers to a process of increasing economic integrated and growing economic interdependence between countries in the world economy. It is associated not only with an increasing cross- border movement of goods, services, capital technology information and people but also with an organization of economic activities which straddles national boundaries. This process is driven by the lure of profit and threat of competition in the market. The term Globalization as such denotes adjustment of national economy with that of the world economy. It is conversion of a national market into international mobility of factors of production. In others words, it may be described as the integration of national economy with that of global economy. An important attribute of Globalization is the increasing degree of openness, which has three dimensions, i.e.; international trade, international investment and international finance. According to World Development Report, Globalization reflects the progressive integration of worlds economies. The manifestation of production includes spatial reorganization of production the interpenetration of industries across borders, the spread of financial markets, and the diffusion of identical consumer goods to distant countries and massive transfer of population across national frontiers. Globalization is a process of reaffirmation of faith in the markets, retaining the character of independence of a country. Here, the country follows a pragmatic policy with a shift in decision making from government to business. The market forces and the laws of economics will have greater importance than the political ideology. To make a country a successful partner in Globalization, the government must play a complimentary role. Factors contributing to Globalization: The important factors that contribute to Globalization are: (a) Technological Advances In communication: Technological advances in communication have made it possible to know in an instant what is happening in different parts of the world. The flow of information and ideas, boosted greatly by the Internet, can enable developing countries to learn more rapidly from each other and from industrial countries. (b) Improvements In Transportation And Technology: Improvements in transportation networks and technology are reducing the costs of shipping goods by water, ground and air. This can facilitate the movements of goods. Technological improvements can enable developing countries to leap stages in the development process that rely on inefficient uses of national resources. (c) Other Factors: Rising educational levels, technological innovations that allow ideas to circulate, and the economic failures of most centrally planned economies have also contributed to Globalization. Trends in Globalization: The important trends in Globalization are the following: International Trade: Trade in goods and services has grown twice as fast as global GDP in the 1990s and the share attributable to developing countries has risen from 23 to 29 percent. There is a compositional shift in trade, which has created a new pattern in the international exchange of goods, services, and ideas. Trade in components is one part of that new pattern. Advances in information technology helps to link firms from developing countries into global production networks. The tremendous growth of trade in services and, more recently, of electronic commerce is also a part of the new trade pattern. (b) International Financial Flows: There has been increase in international capital flows of developing countries. However, the financial crisis of 1977-99 have put the growing interdependencies among countries in the spotlight and led to intense scrutiny. Such flows are started to rise again. The financial performance of emerging markets in the 1990s made capital account liberalization an attractive option for developing countries. Many developing countries have began to loosen controls on inflows and outflows of capital. The East Asian meltdown has enhanced the attractiveness of long-term capital investment. Countries have started to recognize that foreign direct investment brings with it not only capital but also technology market access and organizational skills. An analysis of the period 1996-97 shows that foreign direct investment was less volatile than the commercial bank loans and foreign portfolio flows. (c) International Migration: Along with goods, services, and investment, people are crossing borders in large numbers. According to World Development Report 1999-2000, each tear between 2 million and 3 million people emigrate, with majority of them going to just 4 countries: the United States, Germany, Canada and Australia. The market for highly skilled workers will become even more globally integrated in the coming decades. At the end of the 20th century Globalization has already demonstrated that economic decisions, wherever they are made in the world, must take international factors into account. There is acceleration of goods, services, ideas and capital across nation borders. Advantages of Globalization: (a) Promise of Increase Productivity And Higher Living Standards: Globalization brings in new opportunities such as access to markets and technology transfer. These opportunities hold out the promise of increased productivity and higher living standards. (b) Increase In Trade In Goods And Services: There is tremendous growth in trade in goods and services. Trade in goods and services has grown twice as fast as global GDP in the 1990s and the share attributable to developing countries has climbed from 230to 29 percent. Increased international competition in services will lead to reduction in prices and improvements in quality. This will increase the competitiveness of downstream industries. Both industrial and development economics will gain by opening their markets. (c) Provide New Opportunities For Growth: For developing countries, trade is the primary vehicle for realizing the benefits of Globalization. Imports bring additional competition and variety to domestic markets, which benefit consumers. Exports, on the other hand, enlarge foreign markets and benefit business. Further trade exposes domestic firms to the best practices of foreign firms and encourages greater efficiency. Trade gives forms access to improved capital inputs such as machine tools, which boosts productivity. Trade encourages the redistribution of labour and capital too relatively to more productive sectors. It has contributed to the ongoing shift of some manufacturing and services activities from industrial to developing countries, providing new opportunities for growth. (d) Globalization of Financial Markets: Globalization of finance markets affects development because finance plays an important role in economic growth and industrialization. Financial Globalization affects growth in two ways. First, it increases the global supply of capital. Second, it promotes domestic financial development and hence, improves allocative efficiency, creates new financial instruments, and raises the quality of baking services. (e) Increased Flow Of foreign Market Capital: Globalization leads to increased flows of capital across countries. Flows of foreign capital offer substantial economic gains to all parties. Foreign investors diversify their risks outside their home market and gain access to profitable opportunities through out the world. Economies receiving inflows raise the level of investment. When there is foreign investment it is generally accompanied by management expertise, training programs and important linkages to suppliers and international markets. (f) Impact on Poverty: The fast growth and overall development resulting from liberalization, increased flow of trade ad capital could have a major impact on poverty. It is likely to reduce the number of people living in absolute poverty. (g) Increase The Level Of Interdependence And Competitiveness: Globalization is supposed to accelerate and increase the level of interdependence and competitiveness among nation. It is a change from plan to market. As a consequence, markets for merchandise trade are expanding, more and more service are being traded internationally, and capital is flowing in quicker and increasingly diverse ways across countries and regions. There is increasing integration of countries into World markets for goods, services and capital. In short, Globalization widens and intensifies international linkages in trade and finance. (h) Induce Domestic Firms To Improve Technology: The better technology brought in by the MNCs may induce or provoke the domestic firms to absorb similar technology. This may improve their competitiveness and expansion. Disadvantages of Globalization: The universal acceptance of the market economy and the Globalization led by private enterprises tend to have some harmful effects on the economy of developing countries. They are discussed below: Takeover of National Firms: There are a large numbers of cases of takeover of national firms by foreign firms. In some cases, the domestic firms had to handover the majority of equity to foreign partners of joint ventures due to their inability to bring in additional capital. Ruin of Traditional Crafts And Industries: Globalization has lead to replacement of traditional and indigenous products by modern products. This has resulted in the ruin of traditional crafts and industries and the livelihood of the people depended on these sectors. Brings Instability: Globalization sometimes brings instability and unwelcome change in the economy. It exposes workers to competition from imports, which can threaten their jobs. The inflow of foreign capital into the country through Globalization may undermine banks. (d) Widens The Disparity: Globalization will widen the disparity between one who are associated with market and one who are not. With the expansion of trade and foreign investment, the gaps among the developing countries will widen .it has brought in increased income inequality in many industrial countries .it is argued that the developing countries and the poor people are not in a position of achieving benefits from Globalization. The only beneficiaries of it are the developed countries and the MNCs. Growth rate of Indias real GDP per capita Per Capita GDP of South Asian Economies. Estimates of the Per Capita Income of India. CONCLUSION: Economic liberalization has increased the responsibility and role of the private sector. At the same time, it has reduced the control of the government on economy affairs. It is expected that the reforms would liberalize the Indian economy enough to create a conducive environment for rapid economic development. The Ninth Five Year Plan, therefore, rightly observed, The conditions that exist today, demand a decisive break from the past. The government has taken on itself too many responsibilities with the result that it not only encouraged a dependency syndrome among our people, but also imposed severe strains on financial and administrative capabilities of the government. Private initiative whether individual, collective or community-based forms the essence of the development strategy articulated in the plan. The process of reforms according to many economists and social scientists is not fast enough to achieve the goals. Jeffrey Sachs, director of Harvard Universitys center for international development and a noted economist, pointed out that the reform process in India had a long way to go. He feels that without a focus on the twin pillars of social and economic strategies, the future would be bleak for India, especially in the context of competition all around. Liberalization process is on the slow track. Government is expected to reduce and finally give up its involvement in economic matters and play a major role in providing the required socio-economic infrastructure. The government, however, is reluctant to give up its role of owning and controlling economic activities. At the same time its inability to spend for providing minimum health and education services. It is eager to spend on higher education without spending enough on primary and secondary education. It has failed in providing a corruption free administration, an essential precondition for increasing com