Sunday, May 24, 2020
Human Resource Planning Process For Human Resources
Introduction to the Topic The reading for this assignment covered human resource management. Items discussed in this chapter were the importance of human resource management in an organization, the planning process for human resources, how a manager needs to be familiar with U.S. federal laws and regulations, the steps in the employment process, and current issues faced by human resources. According to Dunlap Garvin (2010), good employees can be the key to success in an organization. A human resources department has several important responsibilities that can affect an organization in either a positive or negative way. Three Concepts The three important concepts from this week’s reading are the planning process, recruitment, current issues in human resources. Human Resource Planning Process. The planning process is the first activity for staffing of an organization (Satterlee, 2013). The planning process is the aligning of the human resource strategic goals with the strategic goals of the organization. Job analysis, job description, and job specification are part of the planning process. According to Satterlee (2013), the process of establishing programs or procedures to implement human resource strategies is strategic human resources planning. Strategic alignment, leadership and knowledge management, results-oriented performance culture, talent management and accountability are the five aspects of implementing a human resources strategy (Satterlee, 2013). TheShow MoreRelatedA Human Resources Planning Process1443 Words  | 6 PagesA. If you were Jane, what steps would you recommend the company take to engage in a complete human resources planning process? At this stage of ambitious development, it is important to add to the current work force efficiently as per the demand. A plan has to be made considering where the company is deficit in efficiency, to add more skilled and talented workers to fill the space. Extra training can be provided to the already existing employees, and for the new employees, the recruitment criteriaRead MoreSteps in the Human Resource Planning Process1777 Words  | 8 PagesSteps in the Human Resource Planning Process Designing the Management System †¢ A crosscutting issue in human resource planning is to ensure that a proper system is in place to handle the process. The overall aim of this system is to manage human resources in line with organizational goals. The system is in charge of human resource plans, policies, procedures and best practices. For example, the system should track emerging human resource management trends, such as outsourcing certain non-coreRead MoreHuman Resource Planning Process Of A Project Manager826 Words  | 4 PagesHuman resource plan is developed early in the planning process of a project. Once the project is finalized, the project team can be assigned immediately. Assigning human resources to the team includes project managers not only to organize and plan, but also to lead the team. Comprehensive human resource plan helps the project manager to build, lead and organize the team such that projects can be completed on time, within budget and without compromise in the specification. The following componentsRead More Comprehensive Structure and Process of Human Resource Planning4321 Words  | 18 Pagesmethods „P     Evaluation of the selection process Retention „P     Nature of Retention „P     Turnover analysis „P     Retention strategies Reward „P     Nature of reward „P     Objectives of the reward system „P     Reward determination „P     Types of reward system „P     Performance Management Training and Development „P     Nature of Training and development „P     Objective of Training and Development „P     Training and Development process „P     The role of training and development Read MoreHow Strategic Management Plan And The Human Resource Planning Process1410 Words  | 6 Pagesstaffing process and the human resource planning process helps to determine where there may be a problem and what is needed to bring about a long-term solution. Another approach connected to the human resource planning activities is the organization‘s strategic development and implementation as charted in our text by Plunkett, Allen, and Attner, (2013). As we examine these approaches, we strive to bring explanation as to how the evaluations and analyzing bring about the ongoing process of changeRead MoreManaging Editor, By Distributing Human Resources, Process Of Planning, Recruiting, Selecting, And Training7066 Words  | 29 Pagesdistributing Human Resources’ process of planning, recruiting, selecting, and training. CHN’s staffing activities use two types of job analysis: job requirements j ob analysis and competency based job analysis. The competencies and pertinent tasks, task dimensions, and KSAOs combine to prepare the Newsletter Managing Editor’s job description, job summary, and job specifications, which took place during phase one of the job portfolio. CHN’s recruiting team began the recruiting process with an internalRead MoreHuman Resource Planning Assignment1359 Words  | 6 PagesModule: Human Resources Assignment: Discuss how Human Resource Planning contributes to effective Human Resource Management Date: 21st December 2011 Student: Laura Doyle Lecturer: Michelle Flannery Introduction In the following text, the process of Human Resource Planning will be defined and described in detail. We will see the importance of Human Resource Planning and the essential role it plays in ensuring successful Human Resource Management. Human Resource ManagementRead MoreLimitations to Hr Planning1688 Words  | 7 PagesHuman resource planning is the process by which the management ensures that the right number of people with the right skills is available at the right time, in the right job, in order to help the organization achieve its objectives. In other words, human resource planning is all about finding out in advance how many workers are needed to perform the tasks, how many employees with the required skills are available within and outside the organization and how is it possible to fulfil the staffing needsRead MoreThe Reasons For Human Resource Planning1450 Words  | 6 Pagesreasons for human resource planning in Tesco: There are several important reasons of human resource planning that business organisation carry out regardless their size and it is important for the continuity of any business organisation to plan. However, in many business owners may not include human resource planning at the beginning of their business but later realise the importance of human capital and no business can survive without having competitive human capital. Reasons are human capital, budgetRead MoreLimitations to Hr Planning1743 Words  | 7 Pages|James Summons Fynn (BA UAM 0033) | Question: Examine the limitation to Human Resource Planning. What you advocate as the measures for dealing with identified limitations? Definition of Human Resource Management It is proposed that we take human resource management to be that part of management concerned with: All the decisions, strategies, factors, principles, operations, practices, functions, activities and methods
Thursday, May 14, 2020
Al Ahram Beverages - 1457 Words
Case Analysis Al Ahram Beverages Company â€Å"2†By: Marmina Abdel-Malek 900 00 1809 Fall 09 I- Overview: ABC was a public company originally found in 1897, that has been nationalized in 1963, until it had been privatized in 1997 and acquired by the Luxor Investment group represented by Ahmed el Zayat as a CEO and board chairman. Luxor group is an American investment group focusing on investment more than the business itself. Zayat’s vision and objectives: Marinating local market dominance and transforming the company from a domestic brewer to a leading edge multinational beverages company. II- Situation Analysis: - General Environment Analysis o Demographic Trends ï‚ § 350 million Muslim in the MENA region ï‚ § Platform for†¦show more content†¦27% returns on invested capital 7. 34% net margin b. Marketing: i. Deep understanding of the market, its segments and its needs. ii. Bandwidth covering the market needs. 1. Spirits 2. Wine 3. Alcoholic Beer 4. Non Alcoholic Beer (NAMB) 5. Soft Drinks iii. High growth rates in some markets: 1. In wine: 30% growth rate per anuum c. HR i. Professional team of managers with ii. Stocks option for employees and managers to attract highly qualified members iii. Interests alignment of employees with management and stakeholders. d. Brand i. Strong brand presence and awareness in the local market ii. Association with international brands such as Carlsberg. iii. Brand width: it had a product to meet every taste. e. Distribution network i. Strong distribution network 1. Reach: 1200 employee, 500 truck, 17 storehouses 2. Gouna Distribution and Trading 3. Agencies ii. Super Stores (43 stores) iii. Home delivery f. Production i. Upgraded and expanded facilities 1. Sharkia Brewery (NAMB CSD) 900,000 hl 2. Obour Brewery (Alcoholic Beer) 600,000 hl 3. Badr (NAMB) 675,000 hl 4. Ginaclis (wine) 5,500,000 liters (storage capacity) 5. Ginaclis (Spirits) 1,050,000 liters (distillation capacity) ii. Affiliation with expertise bodies improved quality 1. Supervision with Ginestet Groupe on wine production 2. Carlsbery team on beer production g. Management Performance: i. Classified as one of the best 200 best managedShow MoreRelatedAl Ahram Beverages1451 Words  | 6 PagesCase Analysis Al Ahram Beverages Company â€Å"2†By: Marmina Abdel-Malek 900 00 1809 Fall 09 â€Æ' I- Overview: ABC was a public company originally found in 1897, that has been nationalized in 1963, until it had been privatized in 1997 and acquired by the Luxor Investment group represented by Ahmed el Zayat as a CEO and board chairman. Luxor group is an American investment group focusing on investment more than the business itself. Zayat’s vision and objectives: Marinating local market dominance and transformingRead MoreAssignment1771 Words  | 8 Pagescolor book ? It is a book containing all colors made by INX applied on aluminum substrate sorted according to color categories 3 1. Introduction: Ali ElKattan 1.1. Project Description and Vision 4 ï‚ ¨ ï‚ ¨ ï‚ ¨ ï‚ ¨ Rexam is a beverage can making company where it stands as the 2nd biggest company in the industry of can making in the whole world. INX company is a pioneer company in the ink industry where it’s the main supplier for inks for Rexam other companies. The companyRead MoreGlobal Marketing : a Decision-Oriented Approach 4th Ed. Svend Hollensen.2310 Words  | 10 PagesReferences Part III Case studies III.1 IKEA: Expanding through franchising to the South American market? III.2 Autoliv Air Bags: Transforming Autoliv into a global company III.3 IMAX Corporation: Globalization of the film business III.4 Heineken/Al Ahram Beverages Co.: Marketing of alcoholic and non-alcoholic drinks to Egypt and to other Muslim markets – does an acquisition help? Part IV Designing the Global Marketing Programme 14 Product decisions Learning objectives 14.1 Introduction 14.2 The dimensionsRead MoreManagement Course: Mba−10 General Management215330 Words  | 862 PagesSOURCE: Tony Lee, â€Å"Are You More of A Street Fighter or a Jekyll and Hyde?†The Wall Street Journal, June 11, 1996, p. B1. MANAGERIAL BULLETIN Is Craig Weatherup Too Nice for PepsiCola’s Own Good? The chief executive of PepsiCo Inc.’s global beverage arm is widely regarded by employees as a benevolent boss. . . . One school of thought has it that Pepsi can never beat an increasingly aggressive Coca-Cola Co. without a certain ruthlessness in the executive suite. â€Å"What’s needed at Pepsi is some
Wednesday, May 6, 2020
Skills for Workplace - 1692 Words
IMPORTANT SKILLS FOR WORKPLACE Important skills for the workplace today Nguyen Dang Dinh Van Kaplan University Dip FM 1888. Class 18B SSPDP Ms. Deepa Pillai September 30, 2010 Important skills for the workplace today Nowadays, workers are being requested getting more and more challenges and difficulties in every aspects of working environments. Employers are looking to people who have special skills which can apply directly to many different tasks. Therefore, people have been competed to figure out and practice their personal skills since they are still in the college. There are many important skills for the workplace but I would to say that not all skills are useful for different kinds of jobs. So, they need to understand what†¦show more content†¦His decisions must be reasonable to avoid any argument in teamwork. Finally, what others looking for is the result. Clearly, one group with a good leader, the quality of teamwork as well as tasks will be must better. For this reason, I strongly believe that leadership skills are important for workplace in any moment or situation. In the last part, I would like to discuss about how to students develop leadership skills in the college. St udents can try to talk in front of classes or schools confidently. They learn how to convince others to agree with their ideas or some stories. Sometimes, just a group activity can also be a chance to them to improve their skills. They need to be always willing to volunteer to become a leader. When they think about solutions for any problem then convey to others specifically, they are practicing their leadership skills by the right way. As well as working, leader will be people who combine ideas from members and submit to teachers. They are people who can make a decision for group about which way to go, how to do and they must have their abilities to prove that’s right. For that, why don’t students try their best to keep their skills like experience? Someday, when they start to go to society and joining to working environments, leadership skills will be one of the most important skills for workplace. All in all, in this paper I have discussed about three veryShow MoreRelatedSkills for Workplace1676 Words  | 7 PagesIMPORTANT SKILLS FOR WORKPLACE Important skills for the workplace today Nguyen Dang Dinh Van Kaplan University Dip FM 1888. Class 18B SSPDP Ms. Deepa Pillai September 30, 2010 Important skills for the workplace today Nowadays, workers are being requested getting more and more challenges and difficulties in every aspects of working environments. Employers are looking to people who have special skills which can apply directly to many different tasks. Therefore, people haveRead MoreThe Leadership Skills Of The Workplace1545 Words  | 7 PagesInnovation in the workplace is a competitive force that give businesses like Apple and Samsung a competitive advantage over other competitors. Innovation is not a new concept for businesses in the workplace, it has been around for a long time. However, businesses are focusing on innovation because they understand the key benefits of innovation. Innovation is supported in organizations through different leadership practices. Discover skills are important in the business and help drive innovation forRead MoreTransferable Skills in workplace1508 Words  | 7 PagesTransferable Skills in Workplace Introduction As a student, it never too soon to look at the job market in which you will be operating as a job seeker, and at what can help you to maximize the chance of having a profitable job. To be attractive to the employer is that students have to acquire during the school time. Nowadays, there have been many researches on employability, which is generally regarded as a broader concept of skills in the workplace. According to the definition given by the HigherRead MoreCounselling Skills in the Workplace2738 Words  | 11 PagesThe Role of counselling skills in the workplace This paper seeks to explore the role of counselling skills in the workplace, the benefits and how it can be used to enhance employee performance. In order to exhaustively analyze the role and importance of its use in resolving workplace issues, this paper will go through the following, What counselling is, the difference between counselling skills and counselling, what workplace counselling entails and the skills needed, the advantages and disadvantagesRead MoreThe Importance Of Interpersonal Skills On The Workplace1695 Words  | 7 Pagesimportance of interpersonal skills in the workplace? Interpersonal skills are important because they can help determine the effectiveness of a manger. It has been shown that places that have a reputation of being a good place to work have performed well in comparison to those that don’t have a good reputation. Managers that display interpersonal skills help companies attract quality employees and improve the retention of employees. Interpersonal skills in the workplace are so important because theRead MoreOrganizational Communicaton Skills in the Workplace2218 Words  | 9 PagesOrganizational communication skills in workforce †¢ 1: Why have you chosen this topic? Undoubtedly, organizational communication is becoming increasingly complex. Today’s manager must communicate with people who do not speak the same language or share the same culture, align diverse employees toward shared organizational goals, and create synergy among many different kinds of communication media. Despite the new communication challenges that managers face today, the basic lessons of communicationRead MoreImportant Writing Skills in the Workplace1981 Words  | 8 PagesThe Importance of Writing Skills in the Workplace What are the words you write revealing about you? Are they saying I am a well educated and smart business person or are they screaming that I am an ignoramus? The way you write reveals so much about you and your business skills. Your writing tells the reader about your educational background, whether you have pride in your work and your level of business expertise. Any company with employees who write clearly and concisely has a competitive edgeRead MoreDeveloping Coaching Skills for the Workplace776 Words  | 4 PagesCoaching is a powerful tool based on the use of one-to-one discussions to enhance an individual’s skills, knowledge or work performance. Coaching targets high performance and improvement at work and usually focuses on specific skills and goals, although it may also have an impact on an individual’s personal attributes. I have outlined a brief description of 2 coaching models GROW and OSCAR in Appendix 1. There are a variety of different types of coaching available and I have identified 2 specificRead MoreThe Importance of Listening Skills in the Workplace Essay1115 Words  | 5 Pages(Eunson 2012:310), argue the importance of listening skills in the workplace. Your analysis should identify three specific listening behaviors and provide examples to demonstrate how these skills promote communication and understanding. Support your analysis with relevant communication theory and evidence from appropriate academic sources. Listening skills play a significant role in evaluating communication capabilities in the workplace throughout the globe. It affects all kinds of interactionsRead More Essential Workplace Skills Essay example1596 Words  | 7 PagesWorkplace Essential Skills While working or while looking for work there are certain skills sets that are universally important. No matter what job or career path you have chosen these skills make it easier to obtain your goals, whatever they may be. Workplace essential skills enable people at work to do the tasks required by their occupation, give them the basics to learn all other skills (job and life) and assist them to manage and adapt to the changing workplace environment. They
Tuesday, May 5, 2020
Adult Education and Training for Techniques-myassignmenthelp.com
Question: Discuss about theAdult Education and Training for Tools and Techniques. Answer: Introduction There are different methods for evaluation of training. The first one is using of learning theory which involves four levels, namely, reaction, learning, behavior, results. Then there are learner culmination and celebration formative evaluation, documentation and trainer reflection. For an effective training evaluation it must be suitable for the person as well as the situation. Sometimes evaluation of the personal development skills can extend beyond the necessary knowledge and skills of the organization, where effective personal development skills are taken into considerations (Arjovsky Bottou, 2017). Aims and methods Evaluation of learning session depends on certain factors. Usage of wrong tools can make the session monotonous and tiring. If a teacher asks the students to submit only positive feedback, the responses to the tools that were used should be true, helpful and give enlightenment (Phillips Phillips, 2016). It must be kept in mind that there are solid reasons which are good for evaluation. One must determine the cost as well as the benefit ratio of the program along with data collection which will help in future marketing programs. It is also important to recognize the strengths and weakness, decide the participants for future programs and who was the most or least beneficial from the training program. Educational aims and objectives have different benefits which help the trainers for course designing, communication, identification of resources and provide a guideline for evaluation and quality assurance. The feedback received from the stakeholders provides valuable information about th e strengths and weaknesses. Clear understanding of evaluation makes the participants more receptive towards the training method (Bhalla, 2014). The terms aims, objectives and learning outcomes are important teaching requirements which can be used for two purposes- what the trainer will do and what the trainees have learnt. Constructive feedback It is necessary to understand the importance of any information while using any evaluation tool. For instance, if questionnaire is used for evaluation, a collection of broader opinions can be helpful as it is not required by the organization. If the evaluation tool is not suitable for gathering information then a different tool will be used. One of the easy tools that can be used for gaining constructive feedback is to understand the main aspects of the learning process (Carpenter Dickinson, 2016). The main aspects include organizational priorities, measuring the aspects of training, and the impact of the training procedure. More the trainee will know about the organizational needs, better it will be to ensure about the usage of right tools for gathering information. Feedback is essential for the operation of an organization. A manager needs to perform the task of giving feedback time and again to let people know about their current situation and what they can do to attain the goal. It is an essential tool which indicates if things are going properly or if there is any problem. The situations which require the delivery of constructive feedback are- provide correct guidance, follow up on discussions, provide performance pointers, performance discussion and informing about the consequence of a behavior. Constructive feedback is needed when a participant asks about his own performance, persistence of complex situations and errors, not meeting up to the expectation of the employee performance and annoying work habit of the peer. While giving constructive feedback, description should be kept in mind and not judgment; observation and not interference; behavior and not the person; balance between the positive and negative feedback and being aware of the feedback overload (Goetsch Davis, 2014).The methods for giving constructive method include- clear purpose, observation, reaction, giving an opportunity to respond, specific suggestion and giving a gist as a support ( Punch Oancea, 2014). Results of evaluation Relevant data are produced after the effective evaluation of the adult learning session. Using right tools give a proper image of the success of learning evaluation. Selection of the accurate tool varies according to the information needs of the organization (Hale, Bevilacqua Viner, 2015). The outcome of the process of evaluation should be examined to take care of the questions of the organization and the success of the training. The primary objectives of the learning session are- to be clear about the training objectives, to have a specific plan for the facilitation of the training, to have a proper method for assessing the effectiveness of the training and to abide by the ethics, integrity and look into the benefits and improvement. If the process of evaluation describes the changes of evaluation as the most desired learning outcomes, then the above mentioned changes will have an impact on the evaluation process. The outcome received should be well analyzed after gathering. To ass ess the effectiveness of the training process against the set requirements that is relevant to the needs of the organization will be their attainable goal. Analysis is the major step in evaluation process and brings out the meaning of the data collected for evaluation. This process helps in finding documents and also remains accountable to the stakeholders. Before evaluation it must be kept in mind whether data analysis will be internal or external. A concrete plan for data analysis will enhance the situation of the organization and will be helpful for getting analysis from the external stakeholders. Interpretation of the gathered data will be helpful in assessing if the results are reasonable and what implications will it have on the training program (O'Neil, 2014). Positive results refer to the strength of the program and negative results modify the practices. Conclusion It can be concluded from the assignment that evaluation refers to the process of ascertaining the effectiveness of the training program. Information is provided which helps in modifying or amending the training session. The managers may want the evaluation to be conducted on the training as per the procedure for the betterment of the organization. Future trainings are also upgraded with material and content. If the current needs are met then there is a scope for training and assessment. Reference Arjovsky, M., Bottou, L. (2017). Towards principled methods for training generative adversarial networks.arXiv preprint arXiv:1701.04862. Bhalla, S. U. R. U. C. H. I. (2014). E-learning: tools, techniques and trends.Int. J. Eng. Sci. Invent. Res. Dev,1, 82-87. Carpenter, J., Dickinson, H. (2016).Interprofessional education and training. policy press. Goetsch, D. L., Davis, S. B. (2014).Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Hale, D. R., Bevilacqua, L., Viner, R. M. (2015). Adolescent health and adult education and employment: a systematic review.Pediatrics,136(1), 128-140. O'Neil, H. F. (Ed.). (2014).Learning strategies. Academic Press. Phillips, J. J., Phillips, P. P. (2016).Handbook of training evaluation and measurement methods. Routledge. Punch, K. F., Oancea, A. (2014).Introduction to research methods in education. Sage.
Sunday, April 5, 2020
Incumbents vs. New Candidates in Congressional Election an Example by
Incumbents vs. New Candidates in Congressional Elections Winning an election is a very methodical process. It cant be won by sheer luck. The campaign should be planned carefully and systematically executed. If elections are won through deliberations, then the results shouldnt be predictable as we are experiencing it now. Elections are won by the candidates degree of popularity, a large budget for campaign, and good political relations. These elements are the advantages incumbent politicians have over incoming politicians. Need essay sample on "Incumbents vs. New Candidates in Congressional Elections" topic? We will write a custom essay sample specifically for you Proceed To win the control of the Congress almost equals the importance of winning the control for the Whitehouse. Currently, the balance of power of the opposing political parties is quite close. This is very important because unlike the Parliament system, in the U.S the Congress has separate powers with that of the president. All laws are supposed to be passed first in the Congress. To win control of the Congress means more numbers in politicians having the same agendas, this in turn grant political parties more power over the politics of the government. Although, members of the congress are free to decide whether they are in favor or not in a certain law, they are likely to favor the decision of fellow politicians of the same party. As the clich says, birds of the same feather flock together. Opposing political parties are existing because they cant agree on certain issues therefore there are disputes, and these disputes are won by votes. If there are more party members that won the election and is able to vote in disputes within the Congress, then it is logical that it favors the political party with the most number of politicians. After all, there is considerable strength in numbers. Our Customers Very Often Tell EssayLab specialists: How much do I have to pay someone to write my paper today? Essay writer professionals suggest: Help With Essay Writing Custom Essay Reviews Pay For Essay Best Essay Writing Service Write My Essay Online It is very logical that voters favor candidates that theyve known longer as opposed to the new faces theyve just seen during the campaign period. The time voters learn about a candidate is connected to how much theyve learned from the candidate (Abramowitz 1975). Voters can relate more to incumbents because they can simply review the incumbents performance during their past term/s. It will also favor the incumbent more if he had a decent performance during his or her past term/s. It is not uncommon that in politics a politicians blunder is easily covered-up. Im not stereotyping all politicians, just stating their obvious advantage. Voters are also unlikely to gamble in having put to the hands of a new politician the mercy of their area, especially if the incumbent has done a decent work regarding his political position. Incumbents also have the advantage of the support of their respective political parties. It may come as financial and the predetermined support of their respective partys loyalists. Being part of a political party means wider campaigning capabilities and endorsements of other politicians running for the highest seats in the government. Of course, the non-incumbents also belong to a political party and also gain the same benefits. But they are burdened the task of impressing voters with their credentials and campaign speeches that is only to be exposed to the public during the campaign period. The non-incumbents are burdened the challenge of having a short period for preparations and being typically unknown to the general public. Incumbents practically have their whole past term/s as their campaign period. With the convenience of being uncontested, they also have their names along with the issues and projects concerning their area thus giving the voters more recall of their names. An election study was done in an election in Missouri in 1994. The survey began three days before the actual electionsthe timing of the study overlaps with the most intense part of the congressional campaignThe eight incumbent members up for reelection in the state of Missouri in 1994 faced a range of challengers, from several very weakto a few relatively well financed, serious opponents. Although eight of the Missouri incumbents won decisively, the range of talent they faced allows to demonstrate some of the over-time differences in campaigning between moderately intense and barely contested races. (Elms. Sniderman) Although the date of this study maybe questioned, what it had shown us are trends of decision making within the voting public. A challenging candidate may gain the necessary requirements of a voter, but still a certain amount of time is required for the voter to influence another voter to vote for a challenger. Congressional elections are anticipated as how a new candidate would match up with an incumbent politician, much like between a challenger and a defending champion in boxing. In boxing matches, most bets are placed to the defending champion because they proven that they can win their matches and are likely to win again. This has been a common trend in the past elections. This trend has been cutting the number of credible candidates because it has been difficult for them to beat incumbents in elections. New candidates must surpass the efforts of the incumbents. Incumbents are there from the very starts, and so challengers must find ways to deal with that fact. They should gain popularity way before they even proclaim their plans of candidacy, this is to somehow be at par with the time span incumbents do their campaigning which is during their term/s. If ever the challenger wins the election, this cycle will repeats itself in the next election as new challengers for the coveted seat em erge. Works Cited Abramowitz A. The 2004 Congressional Elections. The American Political Science Association. Abramowitz A. Name Familiarity, Reputation, and the Incumbency Effect in Congressional Elections. Western Political Quarterly, 1975 Aldrich J. H. Congresional elections. International Information programs. Barone, Michael, and Ujifusa G. The Almanac of American Politics 1996. Washington, DC: National Journal 1995 Elms and Sniderman P. M. Informational Rhythms of Incombent-Dominated Congressional Elections. Jacobson G. C. The Politics of Congressional Elections. USA: Longman, 2001 Jacobson G. C. and Kernel S. Strategy and Choice in Congressional Elections. USA: Yale UP, 1981
Sunday, March 8, 2020
Financial Analysis of Nokia The WritePass Journal
Financial Analysis of Nokia Introduction of Nokia Financial Analysis of Nokia Introduction of NokiaFinancial RatiosProfitability Ratios:Return Ratios:Activity Ratios:Liquidity Ratios or Credit Ratios:Share Holder’s Ratio:ConclusionReferencesRelated Introduction of Nokia Nokia, one of the leading brands in mobile phones, was started by a mining engineer, Fredrik Idestam, in 1865 by making paper from wood pulp mill; a second paper mill was built on Nokianvirta river that gave birth to the present name of this company-Nokia. The company then started different business and mergers and then finally started mobiles business in 1968. Its head office is in Espoo, Finland and currently has almost 132,000 employees worldwide. Its main products (mobile phones, smartphones, mobile computers, Networks) and services (Maps Navigation, media software solutions, music, messaging) are in the field of Telecommunication, Internet computer software. Nokia is selling its products to almost 150 countries globally with annual revenue of over 42 billion euro with 2 billion operating profits and global market share of nearly 35% in 2010. (nokia.com) Nokia did many innovations and has credit to be the world’s No 1. in many of its products and services e.g. worlds first portable NMT car telephone (Nordic Mobile Telephone-NMT) built by Nokia, GSM call, Nokia Tunes, satellite call, brings Internet on mobile. It introduces First 3g Phone, digital hand portable phones supporting data, fax and the Short Message Service, integrated wireless payphone, dual mode AMPS/TDMA phone, high-speed data terminal for wireless networks, WAP handset, introduced the industry first multimedia messaging solution, first 3GPP compliant WCDMA/GSM dual mode phone, first TDMA handsets with full-color displays, mobile handset with a 4GB hard disk which can store up to 3000 tracks, Nokia N95 was the world’s first device combining GPS and wireless broadband (HSDPA/WLAN). From January 2010, high-end car and pedestrian navigation is available for free on Nokia smartphones. (Zacks research, 2011) One can imagine its success and popularity from the fact that till 2005, 2 billion mobiles were sold worldwide and Nokia alone sold its billionth phone in that year. According to Nokia Corporation, ‘Nokia’s story continues with 3G, mobile multiplayer gaming, multimedia devices and a look to the future’ (nokia.com) and â€Å"Nokia’s mission is simple; Connecting People. Our strategic intent is to build great mobile products. Our job is to enable billions of people everywhere to get more of life’s opportunities through mobile.†(nokia.com) Currently, with the invention of many smart android phones, Nokia is facing stiff competition in mobiles market as its sales figures are moving downward. But they are now making changes in their structure and operations that is depicted by their statement, â€Å"Nokia has recently outlined its new strategic direction, including changes in leadership and operational structure to accelerate the company’s speed of execution in a dynamic competitive environment.†(nokia.com)       Critical Discussion of Recent Past Performance – Financial Ratio Analysis Financial analysis helps in establishing a relation between various financial statements’ elements which can then be compared with other information about the business. This also determines the future prospects of the company and the area that needs improvement. The basic purpose is to analyze the current financial position performance of the company according to which a judgement can be made regarding future performance of the business. (Dyson. J.R, 2007) Financial analysis from the point of view of an investor is mostly concerned with the profitability of the company and also the returns what the company pay to their stock holders in the form of dividends and/or right shares and increase in the stock value. (CIMA, 2000) One has to look carefully to the annual accounts of the company and the yearly growth trend in terms of revenues, profit and its market share. For the analysis purpose, consolidated accounts of Nokia i.e. Income Statement, Balance Sheet, Cash Flow Statement for the last four years from 2007 to 2010 is taken into account and theses figures obtained from the company’s website are given below: Consolidated Income Statement of Nokia for the Year Ended (EURm)                                    2007               2008               2009               2010               Net Sales/ Revenues  51,058            50,710            40,984            42,446 Cost of Sales              33,781            33,337            27,720            29,629 Gross Profit                17,277            17,373            13,264            12,817 Res Dev                 5,636              5,968              5,909             5,288 Sell Ad Exp            5,544              5,664              5,078              4,529 Other Inc                    2,312               420                338                 507 Other Exp                   424               1,195               510                   56 Op Profit                    7,985              4,966              1,197              2,070 Profit Bef Tax            8,268              4,970               962               1,786 Tax                             1,522              1,081               702                 443 Net Profit                   6,746              3,889               260               1,343 (nokia.com) From this income statement, it is observed that Sales are having a decreasing trend from 2007 to 2009 but shows a slightly increase in 2010 and cost of sales, operating profit, earnings per share and the net profit has also the same trends. It means that profitability of Nokia was much better in 2007 that is 6.7 billion euro as compared to 260 million euro in 2009, but it again shows signs of improvement in 2010 and net profit become 1.3 billion euro. Consolidated Balance Sheet of Nokia for the Year Ended (EURm)                                    2007               2008               2009               2010 Assets Cash Eqv                11,992            7,854              9,202              12,653 A/Rec                         11,356            9,545              7,995              7,609 Inventory                   2,876              2,533              1,865              2,523 Other C/A                  3,070              4,444              4,551              4,360 Tot C/A                      29,294            24,470            23,613            27,145 Plant PE                  1,758              1,985              1,822              1,856 Goodwill                    1,384              6,257              5,171              5,723 Tot Assets                  37,599            39,582            35,738            39,123 Liabilities A/Pay                         7,074              5,225              4,950              6,101 Tot C/L                      18,976            20,355            15,188            17,540 Oth/L                         1,285              2,717              5,801              5,352 Tot/Liab                     20,261            23,072            20,989            22,892 Equity                        17,338            16,510            14,749            16,231 Tot Lib Eq            37,599            39,582            35,738            39,123                                                                                                           (nokia.com) The balance sheet gives an idea to investor that how much business is invested by the shareholder’s equity and how much debt is owed. (Dyson. J.R, 2007) It is depicted from these balance sheets of Nokia that approximately 45% business is financed by the equity in 2007 but for the next three years this figure is reduced to around 41%. This shows that company owes more in 2010 as compared to 2007 and its financial position was much better in 2007 compared with 2010. Consolidated Cash Flow Statements of Nokia for the Year Ended (EURm)                                                2007               2008               2009               2010 Net Income                            6,746              3,889               260               1,343 Depreciation                           1,206              1,617              1,784              1,771 Cash from Op Act                 7,882              3,197              3,247              4,774 Cash from Invest                    -710              -2,905             -2,148             -2,421 Cash from Finance                 -3,832             -1,545               -696               -911 Net Change in Cash               3,325              -1,302                378             1,666 (nokia.com) The analysis of Cash flow statement gives true information about profit of a company as it relies on real cash transactions. Income statement can sometime mislead because of insufficient cash flows figures showing on the statement. Investors are mostly interested in cash flow statements before making decision to have a clear picture of the company’s cash transactions. The company’s with plenty of cash availability mostly have fewer problems for expansions or investments for growth, paying off debts or to buy back their own stocks. This cash flow statement shows that Nokia has good position as regard to the cash flow during the year 2007, but it comes to negative figure in 2008 because of losses from investments and finances, but it recovers again in 2009 and makes good progress in 2010. It overall shows that although Nokia had a hard time in 2008 but it picked up again in the subsequent years. Financial Ratios Some financial ratios are calculated as regard to profitability, asset turnover, short term and long term liquidity ratios based on the figures outlined in the Income Statement and balance sheets given above for four years from 2007 to 2010. These ratios and their explanations are given as under: Profitability Ratios: Gross Profit Margin               33.84%           34.26%           32.36%           30.20% Op Profit Margin                   16.19%           9.80%             2.34%             4.21% Net Profit Margin                  13.24%           7.63%             0.63%             3.21% Profitability ratios compare components of income with sales and provide an idea of what makes a business’s income and is expressed as a portion of each sales unit i.e. euro in case of Nokia. These profit margin ratios are different only in terms of numerators and reflect and evaluate performance of different aspects of the company. These all profitability ratios explain the Nokia’s ability to generate the earnings and coverage of its expenses and other costs for the same period (Dyson. J.R, 2007) For Nokia, we observe that Gross profit margin (Gross Profit/ Sales) remains almost equal (30.2% to 34.2%) for the four years in observation, but the operating profit and Net profit margin shows a great fluctuations ( 2.3% to 16.1% in case of op profit and 0.6% to 13.2% for net profit). This means that Nokia has more operating expenses i.e. selling, marketing, RD and administration expenses. Secondly, if we see vertically, in year 2007, the difference between Gross profit and net profit is less (33.84%-13.24%= 20.6%) as compared to subsequent years e.g. in year 2009, the difference is 32.63%-0.63%= 31.73; this shows that in this year there is more operating expenses. But this situation improves a little in 2010 and net profit becomes again 3.21%. Return Ratios: Return on Assets                    17.94%           9.82%             1.00%             3.90% Return on Capital                   54.8%             27.2%             6.7%               7.02% Return on Equity                   53.9%             27.5%             6.5%               8.67% Return ratios are also important profitability ratios. These measures the efficiency with which a business employed its assets, capital and equity for profit generation i.e. amount of profit in relation to investment of total assets. For Nokia, these ratios show that assets are employed more efficiently in the year 2007 and then it has a decreasing trend till 2009 and shows a better position for 2010 as compared to 2009. Activity Ratios: Tot Asset TO                         1.4x                1.3x                1.1x              1.1x Fix Asst TO                           29.0x              25.5x             22.5x            23.1x Inventory TO                         17.8x              20.0x             22.0x             16.8x Activity ratios measures how well the business assets are used i.e. the benefit produced by the company’s assets or how effectively the business investment is being used. The greater the turnover, more effectively the assets are being used (Dyson. J. R, 2007) Liquidity Ratios or Credit Ratios: Current Ratio                         1.5:1                1.2:1             1.5:1              1.5:1 Acid Test Ratio                      1.23:1             0.86:1            1.13:1             1.15:1 These two liquidity or credit ratios measure whether a business can pay off debts or bills from its resources over the next twelve months. Acid test ratio (current assets-inventories/current liabilities) gives a clearer picture than current ratio (current assets-current liabilities) because it shows that business is capable to pay off its current liabilities without selling the inventory because sometimes it becomes difficult to sell the inventory at the time of solvency. Nokia has a good result for these ratios, and shows that the business can easily pay its debts in case there arise any problem. Long Term Solvency Debt/Equity Ratio                  1.17                1.39               1.42                1.41 This debt equity ratio is greater than one, means that Nokia’s most assets are mainly financed by debt than shareholder’s equity (Dyson. J. R, 2007) This ratio shows that how much Nokia is relying on debt. From these figures, it reveals that Nokia is depending more on debt as compared to the equity and this has an increasing trend from 2007 onwards. Share Holder’s Ratio: Earning /share            1.85                1.07                0.24                0.50 The investors have a keen interest in this ratio as this shows that how much business earns in terms of share of stock because if the business earns more, then it can give more to their shareholders. Nokia’s earning per share is 1.85 in 2007 which decreases to 0.24 in 2009 but again shows a good performance in 2010 therefore E/Share increased to 0.50. Other Issues to be Considered in Pursuit of a Potential Investor A potential investor has to do a full market research about the company and the trends of its growth, market reputation, its competition, development growth within the company and within the industry along with the complete examination of the financial statements because an investor not only needs a return on the investment but also wants safety of its funds invested. For financial analysis, one has to consider the revenue generation, operating income from operations, net income, return on equity, balance sheet strength and the competitive advantage over a period of years and also its trend along with the trend of the industry. As far as Nokia Corporation (NOK) is concerned, it is the largest manufacturer of the mobile phones in the world and is the market leader in most of its innovations since 1990’s. But due to the significant increase in the use of smartphones and android phones in the past recent years, Nokia is facing some difficulties for maintaining its same market share as it was before. Global mobile phone sales totalled 269.1 million units in 1st qtr of 2009, decreased 8.8% from 1st qtr of 2008. Smartphone sales were 36.4 million units, an increase of 12.7% from the same time last year. Nokia continued to lead the mobile phone market, but its market share dropped from 39.1% to 36.2% in the 1st qtr of 2008 to 1st qtr of 2009. Smartphones sales are 13.5% of all the mobile devices sold in 2009. (Gartner, May 2009) 5 Year Stock Charts for Nokia Corporation- US (NOK) ( As on 22-04-2011) Source: Businessweek.com Industry Analysis-Year to Date (As on 22-04-2011) Nokia (NOK) Source: Businessweek.com As the consumers are using more smartphones and android phones now a days, therefore its market share are increasing and also the future expectations to use these phones, as is shown in the figures below: Smart Phone Market Share with OS (March, 2011) Source: The Nielson Company (http://tech.fortune.cnn.com) Next Desired Operating System (Consumers planning on getting a new smartphone in the next year) Source: The Nielson Company (http://tech.fortune.cnn.com) Nokia has lost its market share in profitable smartphone segment because of Apple’s iphone and Google’s android phone. In the last few years consumers are moving towards most modern Android phones from Samsung, HTC and prefer less to use the old symbian platform used by Nokia. The Gartner, one research firm expects that android will replace Symbian, and will become the world’s most widely used smartphone this year. Its global market share is expected to be 38.5% as compared to symbian 19.2%. (The Wall Street Journal, Apr 2011) According to Gartner â€Å"By the end of 2011, Android will move to become the most popular operating system (OS) worldwide and will build on its strength to account for 49 percent of the smartphone market by 2012† ( Gartner, Apr 2011) Their prediction table is given below: Worldwide Mobile Communications Device Open OS (Operating System) Sales to End Users by OS ( Thounds of Units) Source: Gartner (April, 2011) In pursuit of fierce competition from other companies like Samsung, Motorola, Apple, Google, HTC and others, some recent developments made by Nokia: Nokia has entered in a fifty-fifty joint venture with Siemens AG after receiving Chinese regulatory clearance in acquiring the wireless network infrastructure assets of Motorolla Solutions Inc. Nokia started using Windows Mobile 7 software in all of its smartphones. (Zack research, 2011) Nokia made a definitive agreement with Microsoft Corp for the development of a smartphone ecosystem. (BBC, 2011) In the first quarter 2011, net revenue was $14,214 million that is increased by 9% year over year. This increase was due to the stronger demand, average selling prices and higher volume sales in most of the regions. (Zack research, 2011) Gartner says, that after Nokia replacing symbian with Microsoft Windows phone operating system, it will not only be able to cut operating cost but also proving better products services to its customers. In 1st qtr of 2011, Nokia’s smartphone share in the global market fell down to 26% from 41% one year ago. The company is also expecting that its 2nd year will also be challenging, but because of the deal with Microsoft ‘there is less uncertainty for investors about the companys future prospects’ (The Wall Street Journal, Apr 2011). This deal will also help Nokia in clearing the hurdles in the way of commercializing the new Windows smartphones as quickly as possible. In the 1st quarter 2011, Nokia’s quarterly revenue was up 9% year over year. The increase was attributable to higher volumes in most regions driven by stronger demand and higher average selling price (ASP). However, gross margin was 29.1% compared with 32% in the last quarter. (Zack Research, Apr 2011) Also Hudson securities said (Apr 2011) that Nokia reported strong results for its 1st quarter 2011 with revenue earning per share more than expectations. According to International human press newswire, Nokia’s global presence is still significant as 1.3 billion people using the Nokia’s phone for connecting every day. The Nokia’s deal with Microsoft seemed to be another â€Å"Blockbuster†, its sales will increase and the prices could go back to 2007. (ITHP, Feb 2011)  Conclusion Nokia (NOK), a Finland based multinational company, is the biggest name in the mobile communication technology. Earlier it was involved in many businesses but from 1992 it concentrated on its communication segment and soon became the market leader in many of its innovations. Nokia’s phones are loved by every sector of the consumers, not only because of their reliability but also because that it is providing the cheapest mobiles with most basic functions and also high quality phones with all the latest functions. Its market share remains above 40% globally till last few years. In 2005, 2 billion mobiles were sold worldwide and alone Nokia sold its billionth mobile in that year. There is a fierce competition in the mobile communication market. Main competitors are Nokia, Apple, Samsung, Google and HTC. All suppliers are making innovations and trying to provide new extra functions or services in the mobiles therefore expectations of the consumers are increasing day by day and in this race many companies are providing new innovative mobiles periodically. From the financial statements of Nokia and the ration analysis, it is examined that Revenues, operating income, profit margin, return on equity, earning per share from 2007 has a decreasing trend till 2009 but all these shows positive developments again from 2010. Current ratio, Quick ratio is also in favour of Nokia. Also, in first quarter 2011, Nokia did very well and more than expectations. Although its overall market share is somewhat decreasing due to the Apple’s iphone and Google’s android phone. But as Nokia did a deal with Microsoft recently for using its windows 7 and producing an ecosystem in mobiles, and also it is doing re-organization of the company, it is expected that it will be able to gain its market share again, still 1.3 billion people are using Nokia worldwide. Therefore, one can invest in Nokia but also need to keep an eye on the growth and development it is making with the passage of time. References BBC News, Nokia and Microsoft form partnership. 11 Feb 2011, online, assessed on April 20,2011, available from bbc.co.uk/news/business-12427680 Business week, April 22, 2011, ‘Information Technology Sector, Communications Equipment Industry’, online, assessed on April 22, 2011, available from http://investing.businessweek.com/businessweek/research/stocks/earnings/earnings.asp?ticker=NOK:US CIMA. (2000) Management Accounting Official Terminology. London: The Chartered Institute of Management Accountants Dyson, J.R. (2007) Accounting for Non-Accounting Students. Seventh Edition, England: FT Prentice Hall Fortune, CNNmoney.com, ‘Nielsen: Android gains, iPhone slips’ April 26, 2011, online, assessed on Apr 26, 2011, available from http://tech.fortune.cnn.com/2011/04/26/nielsen-android-gains-iphone-slips/ 6.     Gartner Research, May 20, 2009, ‘Gartner Says Worldwide Mobile Phone Sales Declined 8.6 Per Cent and Smartphones Grew 12.7 Per Cent in First Quarter of 2009’, online assessed on Apr 26, 2011, available from gartner.com/it/page.jsp?id=985912 Gartner Research, April 7, 2011 ‘Gartner Says Android to Command Nearly Half of Worldwide Smartphone Operating System Market by Year-End 2012’,  online, assessed on Apr 26,2011, available from gartner.com/it/page.jsp?id=1622614 8. ‘Hudson Securities Reports Strong 1Q11 Results For Nokia’ April 21, 2011, online assessed on Apr 27, 2011, available from http://origin.benzinga.com/analyst-ratings/analyst-color/11/04/1023585/hudson-securities-reports-strong-1q11-results-for-nokia ITHP, International human press newswire, ‘Invest in Nokia?, Feb 2011, online, assessed on Apr 26, 2011, available from ithp.org/articles/nokia.html Nokia website, online, assessed on April 15, 2011, available from nokia.com Reisinger. D, Cnet news, April 26, 2011, ‘ Nielsen: Android gains, iPhone slips’, online, assessed on April 26, 2011, available from http://news.cnet.com/8301-13506_3-20057445-17.html The Wall Street Journal, 21 Apr, 2011, ‘Nokia Lifts Itself Out of the Doldrums’, online, assessed on Apr 26, 2011 available from http://money.uk.msn.com/wall-street-journal.aspx?cp-documentid=157142938 Zacks Research, Business News, ‘Nokia Surprises in 1Q11’ 21-02-2011, online, assessed on April 17, 2011, available from favstocks.com/nokia-surprises-in-1q11/2148356/
Friday, February 21, 2020
Developing People and Planning Work Assignment Example | Topics and Well Written Essays - 3250 words
Developing People and Planning Work - Assignment Example The role of a team player is to contribute and participate whole-heartedly. Understanding the responsibilities and expectations of the team and aligning them to the organizational goals, will enable the player to progress on a personal level as well as a team member. By offering support to the other team members and arriving at a plan and executing the task within timelines will enhance the team performance. A good team manager who in addition to performing the roles of a team player, also tries to bring out the best in his team, by leveraging on the strength of the members and playing down their weaknesses. A team has been defined as "a small number of people with complementary skills who are equally committed to a common purpose, goal, and working approach for which they hold themselves mutually accountable."(Katzenbach, Smith, 1993). A group of people does not constitute a team. A team has clearly defined goals and performance objectives for which members are individually and collectively accountable. A team is characterized by being trained and in communication with its other members. Its members support each other, officially and personally and share expertise to achieve project goals. Teams have a set of rules that are enforced and take time to develop and achieve the highest level of performance. The role of performance measures is measurements of performance that serve to inform the organization about the efficiency of achieving predetermined goals. This continuous monitoring serves the purpose of controlling the progress of the work within a specified framework and should corrective action be required, timely intervention is made possible. Motivation Motivation as a business concept Motivation may be defined as the inner force that drives individuals to accomplish personal and organizational goals. Traditionally, employees were just a part of the business entity and were not treated as a valuable asset. However with the Hawthorne Studies began the human relations approach to management, whereby the needs and motivation of employees become the primary focus of managers (Bedeian, 1993). It did not take long for them to realize that motivated employees are more productive and contribute to better overall efficiencies of the organization. Therefore, the onus was on the manager to make sure that the employee was motivated and this was quite a challenge due to the complexity of human nature. Each unique individual had different reasons to be motivated and different methods that were effective and this made it arguably really complex. Source from website http://www.accel-team.com/motivation/index.html Assess motivation of team Teams that are motivated often possess these characteristics Purpose: When teams have a specific purpose, goal or a mission, then the members are united towards a specific path and are motivated to travel along it. Challenge: Motivation is generally high when the task is challenging and has a level of difficulty that excites the team members to perform better. However, if the task is too difficult, members may give up or if it is too easy, members just slack and take it easy. Camaraderie: When team members genuinely like each other, they work harder together and are often
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