...Principles of Management Control Systems 20 Fo rI B ICFAI UNIVERSITY S U se O nl y C la s s of 09 Principles of Management Control Systems 20 Fo rI B ICFAI Center for Management Research Road # 3, Banjara Hills, Hyderabad – 500 034 S U se O nl y C la s s of 09 The Institute of Chartered Financial Analysts of India, January 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying or otherwise – without prior permission in writing from Institute of Chartered Financial Analysts of India. Fo ISBN 81-7881-995-3 Ref. No. PMCS/A 01 2K6 31 For any clarification regarding this book, the students may please write to ICFAI giving the above reference number, and page number. While every possible care has been taken in preparing this book, ICFAI welcomes suggestions from students for improvement in future editions. rI B S U se O nl y C la s s of 20 09 Contents PART I: AN OVERVIEW OF MANAGEMENT CONTROL SYSTEMS Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Introduction to Management Control Systems Approaches to Management Control Systems Designing Management Control Systems Key Success Variables as Control Indicators Organizing for Adaptive Control Autonomy and Responsibility Transfer Pricing 3 15 28 42 57...
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...STRATEGIC HUMAN RESOURCE MANAGEMENT – HRM 3138 LECTURE NOTES 2AGEM Strategic management deals with the managerial aspect of strategy. A number of concepts that are often confused will have to be considered, namely, strategic decisions, strategy, and strategic management. 1. Strategic Decisions These are the decisions that affect the long-term well-being of the organisation. Such decisions involve major resource commitments and are difficult to reverse, implying a long-term commitment. Decisions that are regarded as strategic may occur at all levels of the organisation. There are usually two levels of decisions – corporate and business. Corporate-level decisions are those that affect the entire organisation or firm, whereas Business-level decisions affect the particular business or division. If there is only one business in the firm, then both the corporate and business levels are identical. 2. Strategy This is the common theme underlying a set of strategic decisions. The strategy may be to change the scope of the firm or become global, and the decision to acquire a particular firm is part of that strategy. Strategy is about the firm’s relationship with the environment and developing the capabilities and competencies to enable it attain success. It must be borne in mind that all firms have a strategy and that this strategy may be explicit or implicit, developed with extensive analysis or not. An organisation or firm’s strategy can generally be expressed in relatively...
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...Principles of Management Control Systems 20 Fo rI B ICFAI UNIVERSITY S U se O nl y C la s s of 09 Principles of Management Control Systems 20 Fo rI B ICFAI Center for Management Research Road # 3, Banjara Hills, Hyderabad – 500 034 S U se O nl y C la s s of 09 The Institute of Chartered Financial Analysts of India, January 2006. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system, used in a spreadsheet, or transmitted in any form or by any means – electronic, mechanical, photocopying or otherwise – without prior permission in writing from Institute of Chartered Financial Analysts of India. Fo ISBN 81-7881-995-3 Ref. No. PMCS/A 01 2K6 31 For any clarification regarding this book, the students may please write to ICFAI giving the above reference number, and page number. While every possible care has been taken in preparing this book, ICFAI welcomes suggestions from students for improvement in future editions. rI B S U se O nl y C la s s of 20 09 Contents PART I: AN OVERVIEW OF MANAGEMENT CONTROL SYSTEMS Chapter 1 Chapter 2 Chapter 3 Chapter 4 Chapter 5 Chapter 6 Chapter 7 Introduction to Management Control Systems Approaches to Management Control Systems Designing Management Control Systems Key Success Variables as Control Indicators Organizing for Adaptive Control Autonomy and Responsibility Transfer Pricing 3 15 28 42 57...
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...CHAPTER PART 2 2 Forecasting Demand and Supply FORECASTING DEMAND AND SUPPLY LEARNING OBJECTIVES • • • • • • Understand and select information required to forecast HRP Identify members of the HR planning team Understand the four steps in the HRP process Apply techniques to forecast HR demand and supply Describe various methods for assessing labour planning (quantitative and qualitative) Discuss key challenges in forecasting HR demand and supply 26 Part 2 | Forecasting Demand and Supply ■ PROFILE The Great Pyramid of Giza The Great Pyramid of Giza has fascinated the world for centuries and is revered as one of the greatest mysteries of time. When it was first built it was 145 metres tall, making it the tallest structure on the earth for over 4,300 years. Egyptologists argue that even with all of the human and computer advancements achieved to date, it would be near impossible to replicate the production of these pyramids. The HR planning scale of the project would be among the biggest challenges to face. Archaeologists have their own methods for determining how many workers (mostly slaves) were employed at Giza, but a majority agree that the Great Pyramid was built by approximately 4,000 primary labourers—quarry workers, haulers, and masons. These primary labourers would have been supported by 16,000 to 20,000 secondary workers—ramp builders, tool-makers, mortar mixers, and those providing back-up services such as supplying food, clothing, and fuel. These estimates suggest...
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...A Dissertation Report On “Putting HR on Balanced Scorecard” (A Case Study of Verizon) (SUBMITTED TOWARDS PARTIAL FULFILLMENT OF POST GRADUATE DIPLOMA IN MANAGEMENT) (Approved by AICTE, Govt. of India) ACADEMIC SESSION (2008-10) Under the guidance of: Submitted by: Supervisor Name Your Name Lecturer (college name) Roll: - PGDM-08/012 College Address PREFACE There is a famous saying “The theory without practical is lame and practical without theory is blind.” Alignment of the Human Resource with the overall strategy of the company is a very big and toughest challenge for the company. Human resource is an important part of any business and managing them is an important task. Our institution has come forward with the opportunity to bridge the gap by imparting modern scientific management principle underlying the concept of the future prospective managers. To the emphasis on practical aspect of management education the faculty of College Name has with a modern system of practical training of repute and following management technique to the student as integral part of PGDM. ACKNOWLEDGEMENT “It is not possible to prepare a project report without the assistance & encouragement of other people. This one is certainly no exception.” On the very outset of this report, I would like to extend my sincere & heartfelt obligation towards all the personages...
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...i STRATEGIC HUMAN RESOURCE MANAGEMENT ii For free online support material please go to the Kogan Page website: www.koganpage.com/strategichrm Password: SHRM53756 iii STRATEGIC HUMAN RESOURCE MANAGEMENT A GUIDE TO ACTION 4TH EDITION Michael Armstrong London and Philadelphia iv Publisher’s note Every possible effort has been made to ensure that the information contained in this book is accurate at the time of going to press, and the publishers and author cannot accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editor, the publisher or the author. First published in Great Britain and the United States in 1992 as Human Resource Management: Strategy and Action Second edition published as Strategic Human Resource Management: A Guide to Action 2000 Third edition 2006 Reprinted 2006 Fourth edition 2008 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers...
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...PRINCIPLES OF MANAGEMENT Table of Contents Ch# Title Page 1 Historical overview of Management ……………………………………………………… 1 2 Management and Managers ………………………………………………………………. 5 3 Managerial Roles in Organizations ……………………………………………………….. 7 4 Managerial Functions i.e. POLCA ………………………………………………………... 9 5 Managerial Levels and Skills ……………………………………………………………… 11 6 Management Ideas: Yesterday and Today ………………………………………………... 14 7 Classical View of Management (Scientific and Bureaucratic)……………………………… 16 8 Administrative View of Management ……………………………………………………. 19 9 Behavioral Theories of Management 20 10 Quantitative, Contemporary and Emerging Views of Management 23 11 System’s View of Management and Organization 25 12 Analyzing Organizational Environment and Understanding Organizational Culture …….. 29 13 21st Century Management Trends………………………………………………………… 32 14 Understanding Global Environment: WTO and SAARC ………………………………… 36 15 Decision Making and Decision Taking …………………………………………………… 39 16 Rational Decision Making ………………………………………………………………... 41 17 Nature and Types of Managerial Decisions ……………………………………………… 43 18 Non Rational Decision Making ………………………………………………………….. 45 19 Group Decision Making and Creativity ………………………………………………….. 47 20 Planning and Decision Aids-I …………………………………………………………… 50 21 Planning and Decision Aids-II …………………………………………………………… 53 22 Planning: Functions & Benefits ………………………………………………………….. 56 23 Planning Process and Goals Levels ………………………………………………………...
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...Subject: Management Concepts and Organizational Behaviour Subject: Management Concepts and Organizational Behaviour ------------------------------------------------- Subject Code: MC-101 Author: Dr. Karam Pal ------------------------------------------------- Lesson No: 01 Vetter: Prof. Harbhajan Bansal ------------------------------------------------- Subject Code: MC-101 Author: Dr. Karam Pal ------------------------------------------------- Lesson No: 01 Vetter: Prof. Harbhajan Bansal INTRODUCTION TO MANAGEMENT Objective: The objectives of this lesson are to enable to define management; to describe the nature and scope of management; to know the difference between management and administration; to understand various levels of management; and to describe the various skills that are necessary for successful managers. Lesson Structure: 1.1 Introduction 1.2 Definition of Management 1.3 Characteristics of Management 1.4 Management Functions/ the Process of Management 1.5 N ature of Management 1.6 Management Vs. Administration 1.7 Levels of Management 1.8 Managerial Skills 1.9 The Manager and his job 1.10 Principles of Management 1.11 Significance of Management 1.12 Summary 1.13 Self Assessment Questions 1.14 Suggested Readings 1.1 INTRODUCTION A business develops in course of time with complexities. With increasing complexities managing the business has become a difficult...
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...Part 1 PA R T The Strategic Human Resource Management Model A human resource department helps organizations and their employees attain their goals. But it faces many challenges along the way. This chapter explores some of these challenges and outlines a strategic human resource management model upon which the rest of this book builds. The Strategic Human Resource Management Model Environmental Analysis Organizational Mission and Goals Analysis Analysis of Organizational Strengths and Culture Analysis of Organizational Strategies Choice and Implementation of Human Resource Strategies Planning Human Resources Attracting Human Resources Human Resource Tactical Plans Placing, Developing, and Evaluating Human Resources Maintaining High Performance Motivating and Rewarding Human Resources Human Resource Systems and Procedures Review and Evaluation of Human Resource Strategies CHAPTER ONE Strategic Importance of Human Resource Management The successful 21st-century organization will not take the loyalty of talented people for granted. It will constantly try to recruit and keep them. … The mutual commitment of an employer and an employee will be one of the most important factors for a 21st-century organization. Subhir Chowdhury1 One CHAPTER OBJECTIVES After studying this chapter, you should be able to: • List challenges facing Canadian organizations in the context of managing their workforce. • Discuss the objectives of human resource...
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...VIEW Strategic Human Resource Management Taken from: Strategic Human Resource Management, Second Edition by Charles R. Greer Copyright © 2001, 1995 by Prentice-Hall, Inc. A Pearson Education Company Upper Saddle River, New Jersey 07458 Compilation Copyright © 2003 by Pearson Custom Publishing All rights reserved. This copyright covers material written expressly for this volume by the editor/s as well as the compilation itself. It does not cover the individual selections herein that first appeared elsewhere. ii Permission to reprint these has been obtained by Pearson Custom Publishing for this edition only. Further reproduction by any means, electronic or mechanical, including photocopying and recording, or by any information storage or retrieval system, must be arranged with the individual copyright holders noted. This special edition published in cooperation with Pearson Custom Publishing. Printed in the United States of America 10 9 8 7 6 5 4 3 2 1 Please visit our web site at www.pearsoncustom.com ISBN 0–536–72690–6 BA 996748 PEARSON CUSTOM PUBLISHING 75 Arlington Street, Suite 300 Boston, MA 02116 A Pearson Education Company iii iv Table of Contents SECTION ONE ................................................................. 1 An Investment Perspective and Human Resources .... 2 HUMAN RESOURCE INVESTMENT CONSIDERATIONS ...6 INVESTMENTS IN TRAINING AND DEVELOPMENT ..... 14 INVESTMENT PRACTICES FOR IMPROVED RETENTION ..................
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...How Human Resource Management Practices affects Employee Performance. Principle Author: ALI SADIQ Ali.sadiq.ch@live.com MS Student Other Authors: TAHIRA JABEEN, HASHIR KHAN, ABDUL BASIT, WAQAS ASLAM MS Students COMSATS INSTITUTE OF INFORMATION TECHNOLOGY, LAHORE CAMPUS CHAPERT 1 Abstract Human Resource is the most important asset for any organization and it is the resource of achieving competitive advantage. Managing human resources is very challenging as compared to managing technology or capital and for its effective management, organization requires effective HRM system. HRM system should be backed up by strong HRM practices. HRM practices refer to organizational activities directed at managing the group of human resources and ensuring that the resources are employed towards the fulfillment of organizational goals. The purpose of this study is to explore contribution of Human Resource Management (HRM) practices including selection, training, career planning, compensation, performance appraisal, job definition and employee participation on perceived employee performance. We describe why human resource management (HRM) decisions are likely to have an important and unique influence on organizational performance. Our hope is that this research forum will help advance research on the link between HRM and organizational performance. We identify key unresolved questions in need of future study and make several suggestions intended to help researchers...
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...Part 1 PA R T The Strategic Human Resource Management Model A human resource department helps organizations and their employees attain their goals. But it faces many challenges along the way. This chapter explores some of these challenges and outlines a strategic human resource management model upon which the rest of this book builds. The Strategic Human Resource Management Model Environmental Analysis Organizational Mission and Goals Analysis Analysis of Organizational Strengths and Culture Analysis of Organizational Strategies Choice and Implementation of Human Resource Strategies Planning Human Resources Attracting Human Resources Human Resource Tactical Plans Placing, Developing, and Evaluating Human Resources Maintaining High Performance Motivating and Rewarding Human Resources Human Resource Systems and Procedures Review and Evaluation of Human Resource Strategies CHAPTER ONE Strategic Importance of Human Resource Management The successful 21st-century organization will not take the loyalty of talented people for granted. It will constantly try to recruit and keep them. … The mutual commitment of an employer and an employee will be one of the most important factors for a 21st-century organization. Subhir Chowdhury1 One CHAPTER OBJECTIVES After studying this chapter, you should be able to: • List challenges facing Canadian organizations in the context of managing their workforce. • Discuss the objectives of human resource...
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...change the policies regarding business, licenses, and permits, as also its attitude towards multinational companies (MNCs) operating in India. However, it was only during the succeeding government of Narasimha Rao government that a strategy was actually formulated in this direction and marketed both in India and abroad. The strategy aimed to bring the Indian economy into the mainstream of the global economy, and at the same time allow a whiff of competition and growth to Indian business. This it was hoped would bring a new dimension to the concepts of quality, productivity, and growth. In evitably, the winds of liberalization that swept through the nation opened a variable Pandora box, with far-reaching implications for hu7man resources management. It bought in a new era of technology, quality consciousness and competition which compelled Indian business to wake up from its somnambulism and reassess its assumptions for dealing with the complete-or-perish’ situation. India has proven world that despite its chaotic political scenario, imbalance wealth distribution, redundant bureaucracy, past baggage of Nehruvian socialism, and its sundry other problem, it can implement sustainable economic restructuring in the world’s most populous democracy. India has the potential, but the strong economic performance of recent years requires continuing efforts to deepen it and make it work. Since foreign entrants in India have distinct advantage in terms of state-of—art technology R&D. ...
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...Human Resource Management (MGT501) VU MGT - 501 T his subject/course is designed to teach the basic principles of Human Resource Management (HRM) to diverse audience/students, including those who are studying this as a supporting subject for their bachelor degree program. This course is designed to provide you the foundations of HRM whether you intend to work in HRM or not, most of these elements will affect you at some point in your career. Either you will be working with some organizations or having people working for you, in both cases you will be dealing with people. To be understandable and lively means that we need to communicate you. We start every chapter with learning objectives. The most important thing you will get out of this course are the basic skills required to succeed in today’s environment which are, you must be able to communicate, think creatively, plan effectively and deal with people. Copyright © Virtual University of Pakistan 1 Human Resource Management (MGT501) INTRODUCTION TO HRM After studying this chapter, students should be able to understand the following: Describe HRM? Explain why are we concerned about HRM? Discuss Road-map of HRM VU Lesson 1 LESSON OVERVIEW This chapter introduces the students with the basic concepts of the human resource management (HRM). During the lecture, we will be discussing the three main things, i.e. the introduction to HRM, the importance of HRM, and a brief discussion of the Resource topics...
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...EDITORS Performance Management Putting Research into Action A Publication of the Society for Industrial and Organizational Psychology Performance Management The Professional Practice Series The Professional Practice Series is sponsored by The Society for Industrial and Organizational Psychology, Inc. (SIOP). The series was launched in 1988 to provide industrial and organizational psychologists, organizational scientists and practitioners, human resources professionals, managers, executives and those interested in organizational behavior and performance with volumes that are insightful, current, informative and relevant to organizational practice. The volumes in the Professional Practice Series are guided by five tenets designed to enhance future organizational practice: 1. Focus on practice, but grounded in science 2. Translate organizational science into practice by generating guidelines, principles, and lessons learned that can shape and guide practice 3. Showcase the application of industrial and organizational psychology to solve problems 4. Document and demonstrate best industrial and organizationalbased practices 5. Stimulate research needed to guide future organizational practice The volumes seek to inform those interested in practice with guidance, insights, and advice on how to apply the concepts, findings, methods, and tools derived from industrial and organizational psychology to solve human-related organizational problems. Previous...
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