...HPT – Final Report HPT – Final Report 2012 Arvind Padmanabhan 1253177 2012 Arvind Padmanabhan 1253177 Contents Introduction 2 About the company 3 Policies and practices 3 HPT Characteristics 4 Selection 4 Trust 5 Constructive Conflict 6 Compelling Purpose 7 Reward 7 Coaching 8 Conclusion 9 Bibliography 10 Introduction I will be discussing about my previous company where in they did succeed in creating a high performance team. This was done because we had acquired a company and it was in period where there was a demand for a particular formulation of medicine which could be only made in the newly acquired plant. The plant which was acquired had many problems. For starters did was not in function for almost a year and the machinery was outdated. There was problem of getting manpower since the plant was situated outside the city. The period in which this was acquired was the vacation period and most of the employees had planned to take long holidays. The chairman of the company had given a public statement that she will be getting the plant operational within 6 months and she expected a 30% increase in profits by doing so. During the same time there was a Bird flu epidemic in India and we were one of those companies which had the formulation to treat such flu. The government of India had sent orders to the company to start producing these medicines because they expected many people to suffer this disease. It was then decided to make...
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...Business Report on Fitright Human Resource Management (IADB) A BUSINESS REPORT ON FITRIGHT REPORT Title: Business Report To : CEO of ‘Fitright; INTRODUCTION This is a business report for the Fitright Company based on an Organizational scenario. It is an auto parts supply Company located in Beijing, China. The CEO wants to know the best guidelines for the recruitment and selection process and competent procedures in place of Guanxi practices. The aim of assignment is to provide a practical recommendation to CEO of Fitright for the HRM Activities advantages in response to the questions given in the task areas. As a resource person of HRM, I have mentioned my opinions as an advice to follow best procedure Fitright would achieve and maintain a substantial competitive advantage to become a successful organization. About Human Resource Management (HRM) What is HRM? Human Resource Management (HRM) is an activity of the people who work in the organization. It can be performed by the management and link managers within the organization. It is different organizational functions to be used simple and easy way to employee management solution. The aim of the HRM is to develop the people in a competent way through work. What is Strategic Human Resource Management (SHRM)? Strategic Human Resource Management (SHRM) is an organizational functions joining the people about the HRM strategies to the organizational...
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...Abstract This paper is an analysis of a real world case as it relates to the learning about managing misbehavior. The Case 8.1, “The (Mis) Behavior of Successful CEOs Leads to Their Departures,” requires answers to the following questions: • “To what degree do you believe the behaviors of the featured CEOs constituted "misbehavior" and that reactions of the boards were correct?” (Ivancevich, J.M., Konopaske, R., & Matteson, M.T., 2014). • “If you were on a board of directors, what factors would you consider in the selection of a CEO to limit the potential of this type of misbehavior?” (Ivancevich, et al, 2014). • All three of the CEOs in the case were given large severance packages. What message does this send to future CEOs of these companies? If you were on the board of directors, would you endorse such severance packages? What is the cost of not granting a competitive severance package? (Ivancevich, et al, 2014). The (Mis) Behavior of Successful CEOs To what degree do you believe the behaviors of the featured CEOs constituted "misbehavior" and that reactions of the boards were correct? Harry Stonecipher The reaction of the Boeing’s board of directors against his “misbehavior” is a sign of a senior management that has no tolerance for any misstep especially on a period where the company is trying to regain its previously-tainted leadership (on account of another case of misbehavior). I believe that Stonecipher’s affair should not happen had he thought of his position...
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...Integrating Culture and Diversity in Decision Making: The CEO and Organizational Culture Profile Rebecca Y. Kuykendoll Dr. Phyllis Parise BUS520 April 29, 2013 Integrating Culture and Diversity in Decision Making I began my research based on things I love, which are to travel and buy shoes. I finally settled on Zappos. “In The Beginning - Let There Be Shoes” Zappos was created in 1999, by Nick Swinmurn who was walking around a mall in San Francisco looking for a pair of shoes. One store had the right style but not the color and vice versa. Nick, walking from store to store, and finally went home empty-handed and frustrated. Nick also tried looking for his shoes online and was again unsuccessful. Long story short, Nick decided to quit his day job and start an online shoe retailer... and Zappos.com was born! The original idea was to create a web site that offered the absolute best selection in shoes in terms of brands, styles, colors, sizes, and widths. Over the past 9 years, the brand and aspirations have evolved, and in addition to offering the best selection, with the goal to be the company that provides the absolute best service online -- not just in shoes, but in any category. Zappos vision: • One day, 30% of all retail transactions in the US will be online. • People will buy from the company with the best service and the best selection. • Zappos.com will be that online store. Zappos believe that the speed at which a customer receives an online purchase...
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...MAN 5266 – 1 Management of Professionals Week 05 Case 8.1: The (Mis) Behavior of Successful CEOs Leads to Their Departures Wilfredo C. Ilagan Everest University Online Abstract This paper is an analysis of a real world case as it relates to the learning about managing misbehavior. The Case 8.1, “The (Mis) Behavior of Successful CEOs Leads to Their Departures,” requires answers to the following questions: • “To what degree do you believe the behaviors of the featured CEOs constituted "misbehavior" and that reactions of the boards were correct?” (Ivancevich, J.M., Konopaske, R., & Matteson, M.T., 2014). • “If you were on a board of directors, what factors would you consider in the selection of a CEO to limit the potential of this type of misbehavior?” (Ivancevich, et al, 2014). • All three of the CEOs in the case were given large severance packages. What message does this send to future CEOs of these companies? If you were on the board of directors, would you endorse such severance packages? What is the cost of not granting a competitive severance package? (Ivancevich, et al, 2014). The (Mis) Behavior of Successful CEOs To what degree do you believe the behaviors of the featured CEOs constituted "misbehavior" and that reactions of the boards were correct? Harry Stonecipher The reaction of the Boeing’s board of directors against his “misbehavior” is a sign of a senior management that has no tolerance for any...
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...through an outsourced sales organization. In the fiscal year ended Aug. 31, 200x, net revenues were approximately $2.2 billion and assets exceeded $2.5 billion. Further information is available on our Web site: www.abccompany.com. Our Internal Audit Services Department consists of ## professionals, including the vice president who reports to the president/chief executive officer (CEO). The vice president has access to the chairman of the board and the audit committee. The audit function provides an independent appraisal of key financial and operational controls. The audit department also shares best practices that promote operational efficiencies and cost saving opportunities. Our audit plan is the result of an annual risk assessment. A copy of the approved FY200x Audit Plan is enclosed for your reference. Review services to be provided: This RFP is for an external quality assessment of Internal Audit Services of ABC Company. The selected independent party will: 1. Assess the IA Activity’s conformity to The Institute of Internal Auditor’s International Standards for the Professional Practice of Internal Auditing. 2. Evaluate the IA Activity’s efficiency and effectiveness in carrying out its mission (as set forth in its charter and expressed in the expectations...
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...1. Outline the major benefits of implementing a succession management process. Succession management programs are used to identify individual employees who have the skill and ability to assume fundamental roles within the employing organization and prepare them for positions if and when they become available, do to uncontrollable situations (1). Otherwise a succession management program can ensure a smooth transition of power under normal circumstances (4). A succession management program can identify and replace a vital member of an organization quickly and effectively. Without a succession management program in effect, it can take anywhere between 6 months to 2 years to replace a key employee and therefor decrease the operating performance of the company producing a negative effect on the organization for years following the replacement. Here are a few reasons why an organization should ensure they have a succession management program in effect as outlined in course text (2): 1. Provide increased opportunities for high-potential workers. 2. Identify replacement needs as a means of targeting necessary training, employee education, and employee development. 3. Increase the talent pool of promotable employees. 4. Contribute to implementing the organization’s strategic business plans. 5. Help individuals realize their career plans within the organization. 6. Tap the potential for intellectual capital in the organization. 7. Encourage...
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...Cornell University ILR School DigitalCommons@ILR Student Works ILR Collection Spring 2013 Which Organizations are Best in Class in Managing Diversity and Inclusion, and What Does their Path of Success Look Like? Pin Zhou Cornell University Daniel Dongjin Park Cornell University Follow this and additional works at: http://digitalcommons.ilr.cornell.edu/student Part of the Human Resources Management Commons This Article is brought to you for free and open access by the ILR Collection at DigitalCommons@ILR. It has been accepted for inclusion in Student Works by an authorized administrator of DigitalCommons@ILR. For more information, please contact hlmdigital@cornell.edu. Which Organizations are Best in Class in Managing Diversity and Inclusion, and What Does their Path of Success Look Like? Abstract Question: Which organizations are best in class in managing diversity and inclusion, and what does their path of success look like? What are the criteria to measure ‘best in class’? Keywords human resources, diversity, inclusion Disciplines Human Resources Management Comments Suggested Citation Zhou, P. & Park, D. (2013). Which organizations are best in class in managing diversity and inclusion, and what does their path of success look like? Retrieved [insert date] from Cornell University, ILR School site: http://digitalcommons.ilr.cornell.edu/student/46/ Required Publisher Statement Copyright by the authors. This article is available...
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...question by examining several common criticisms of CEO pay through both philosophical and empirical lenses. While some criticisms appear to be unfounded, the analysis shows not only that current compensation practices are problematic both from the standpoint of distributive justice and fairness, but also that incentive pay ultimately exacerbates the very agency problem it is purported to solve. KEY WORDS: executive compensation, distributive justice, pay disparity, incentive alignment Introduction Few academic theories have been adopted as widely as the application of agency theory (Jensen and Meckling, 1976) to the structure of executive pay in modern corporations. After prominent suggestions that the inherent conflict of interest that exists between stockholders and corporate managers – or ‘agency problem’ – could be mitigated through the structure of managerial incentives (e.g., Jensen and Murphy, 1990a), the prevalence and size of stock option grants to senior executives have expanded increasingly and substantially (Hall and Murphy, Jared D. Harris, Assistant Professor teaches both Ethics and Strategy courses in Darden’s MBA program, and a doctoral seminar on corporate governance and ethics. His research centers on the interplay between ethics and strategy, with a particular focus on the topics of corporate governance, business ethics, and interorganizational trust. His work on corporate financial misrepresentation won the 2007 Best Dissertation award in one division of the Academy...
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...Book Review of Built to Last (Best of the Best) Built to Last: Successful Habits of Visionary Companies is a book written by Jim Collins and Jerry I. Porras.. It was published in the Year 1994. This Book is a result of Six year research project how visionary companies are established. While reading this book, I found that there are 2 objectives No.1 to learn the characteristics of Visionary companies 2. To highlight the practical and analytical and logical approach of doing a research so that they influence the practice of management. This Book will also be helpful for those people who have a certain vision in their minds of establishing their business. The research is based on true and practice examples with thorough research work. It is said to be one of the most influential books with respect to management. In the 1st Chapter Best of Best it clearly defines what a visionary company is. According to Author the company is a visionary company who has a clear mission of making money and making people happy. It is also combined with core values and pertaining big goals. He also says that that they are established before 1950’s. , well admired by knowledgeable people, have gone through multiple product or service life cycles. I completely agree that a visionary company has to have clear goals and the ability to sustain them. But it is not necessary that it should be established before 1950. There are visionary companies that established after 1950. For example Reliance Industries...
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...Case Review HOW the best indian companies drive performance by investing in people Leadership Practices vary across cultures. This case study from the Harvard Business Review highlights the ways leaders of high performing Indian companies focus their time and energies. The findings are based on interviews of 105 leaders from 98 of the largest Indian-based companies across various fields. The finding of the study are very stark and intriguing. Unlike the CEOs of Western companies, who often claim that cleverness at the top coupled with skills in financial markets, mergers or dealing making is a key determinant of success, Indian leaders point to the motivation of their people, their biggest assets. The Indian managers/CEOs invest in their employees and give importance to their quality, skill improvements, retention etc. The Leadership style of Indian CEOs find echo in the words of Mr. S. Ramdorai, the former head of Tata Consultancy Services, when he said of his company’s success,“It’s all about human capital at the end of the day.”. The authors of the case also find that Indian business leaders emphasize upon the social mission of their work. According to them Indian business leaders regard Corporate Social Responsibility (CSR) as a key part of social mission and employee motivation. Achieving CSR targets is monitored regularly by 40% of Indian companies while only 17% of US companies report regularly paying attention to this goal. Most of the western CEOs single-mindedly pursue...
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...Recruiting, Selection and Training Victoria Maddox Dr. Victor Villarreal Employee and Labor Relations HRM 534 August 10, 2014 About Costco Costco, a warehouse club, begin under the name Price Club in 1976 in California. The first warehouse club that opened up under the Costco name was in Seattle in 1983. Price Club was originally intended to for businesses only but realized very quickly they could make more profit by opening up to non-business people. Price Club and Costco joined together in 1993 with a name of PriceCostco and had 206 locations with revenue of $16 billion (Costco.com, n.d.). PriceCostco believes in saving their members money while offering quality products. It was renamed Costco in 1997 and now has revenue in excess of $64 billion. If their customers are not satisfied with their membership they can get a refund on it. The same goes for their merchandise; if they are not satisfied they can return the item and get a refund (Costco.com, n.d.). Costco has several levels of membership; executive, business and gold star. Membership cards can be purchased in store or online for $110, $55 and $55 respectfully. The only way to get the executive membership is to upgrade for $55 from business and gold star membership. Their product brand for the last twenty years is “Kirkland Signature.” Costco believes that the Kirkland Signature products should just as good as the brand name products that cost more (Costco.com, n.d.). Recruiting Efforts Effectiveness and...
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...customers seeing the fact that in January of 2012, they had a total of 598 warehouses spread out across the world. They also recorded record high revenues of $88.9 billion and a net income of $1.46 billion. The fact that people can go in and see very familiar products at a lower price makes them want to buy it there over other places. Society is all for trying to find the lowest priced goods. 2. What are the chief elements of Costco’s strategy? How good is the strategy? - The main strategy for Costco were their ultra-low prices, a selection of nationally branded and private-label products, a “treasure hunt” shopping environment, strong emphasis on low operating costs, and geographic expansion. - I think the strategy is perfect for a company like this because society is about saving money and finding the lowest priced goods. Their products range from all types of food, technology, household products, and clothes. The selection for each product category was deliberately limited to mostly fast selling models, sizes and colors. The “treasure hunt” environment that they have gets people to look around to find what they need instead of having a sign that shows them where each product is. By doing this, the customer may see something else that is appealing to them...
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...Mumbai: With the rise in attrition levels taking a toll on IT companies, the country’s largest IT services firm, Tata Consultancy Services (TCS), is all set to bring about a change in its human resource management. The firm has put forth a ‘resources management group’ (RMG) that will work towards various retention initiatives. TCS on Thursday reported a 13% attrition rate in spite of an average 10-13% wage hike that it gave this quarter. Though a second round of wage hike is not a possibility, vice-president & head for global human resources, Ajoy Mukherjee, feels the strengthening of people management and training will improve retention levels. For instance, the firm will bring about a rotation of employees for on-site locations. “With the decrease in on-site opportunities, we intend to rotate employees so that more people get a chance to be at the clients’ locations,” Mukherjee said. “There has to be a stress on aspirations and we have to ensure that business and HR work together to do that.” The industry, at the moment, is witnessing the experienced band of about 3 – 6 years contributing to the majority of the attrition rate. The RMG will also identify individuals that are keen on having newer challenging jobs. “The experienced employees have different aspirations and wage is not necessarily a reason for an employee to quit. For the IT industry, it is increasingly becoming an aspect of having a challenging job. And so, we would want to retain such employees by moving them...
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...industrial cleaning and sanitation industry. They are planning to launch a marketing blitz announcing the launch of their new solutions focus. The sales force excels at demonstrating and selling products, however, CEO David Spencer envisions high performance teams that not only sell its high quality products, but also educate and train clients in the customer’s organizations. In preparation for the launch, leadership must evaluate the skills and talents within the organization and determine the needs to realize the new strategy. Extensive research, training and development will need to occur quickly in order meet the targeted 90-180 day goal of launching the marketing blitz. Situation Analysis Issue and Opportunity Identification The current organizational structure does not support the new strategy. The current sales staff lacks the skill set to excel in the future company focus. “High-performing firms display a greater commitment to training and skill development than their lower-performing counterparts. This practice, a core HRM activity, is related to other ideas about the need for continuous improvement and development over time. Thus, firms must take care to select people with the ability and willingness to learn and develop, and they must establish reward practices that encourage employees to participate in training activities.” (Dreher & Dougherty, 2001, ch.1, p.13-14). Organizational behavior should be monitored and controlled as much as possible. Identifying job candidates...
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