Human Resource Is the Most Important Assets in an Organization Essay

Assets can be defined as â€Å"tangible and intangible resources of a firm which can be drawn upon by a the firm when required to achieve its objective(s)† (Ray and Ramakrishnan, 2006). Tangible assets include financial and physical assets such as machineries and manufacturing plants while examples of intangible assets are branding, company reputation, technological know-how and human resource (Noe et al., 2012). Human resource is the most important asset of an organisation. Using studies which showed that effective use of human resources contributed to better corporate performance and/or productivity, this essay attempts to show that this intangible asset is a key driver in the survival and competitiveness of an organisation. For organisations to be successful, they need to survive and obtain an advantage over their competitors. There are many ways to attain a competitive advantage, including patented product and process technologies, protection and regulation of domestic markets and access to financial resources (Pfeffer, 1994). However, the aforementioned contributors of success are deemed to be less relevant in today’s societies because technologies can be imitated, markets are increasingly globalised and global capital markets ever more opened for worldwide movement of financial resources (Pfeffer, 1994). Instead, in today’s organisations, it is widely accepted that employees are key strategic resources for companies because their knowledge, expertise, ideas and services drive innovations, steer product developments and build relationships with clients. This in turn increase companies performances through multiple means such as driving profits, increasing productivity and building large customer bases. For example, Sears, a multinational US company, attributed its transformational success through its believe in the 3†³Cs† of â€Å"Compelling Place to Work†, â€Å"Compelling Place to Shop† and followed by â€Å"Compelling Place to Invest† (Yeung and Berman, 1997). The senior management at Sears believed that by optimising its human resources (through shaping of employee’s attitudes, increasing motivation and skills), it will become an attractive venue for customers to shop with high level of satisfaction. Consequently, it will be a good investment option due to strong financial results (through increase in customer expenditure) and productivity (through optimisation of human resources) (Yeung and Berman, 1997). Strategically valuable resources may give companies a competitive edge. Bartlett and Ghoshal (2002) argued that there is an evolving corporate strategy from one that competes for markets and products, to one that compete for resources and competencies, to the current strategy of competing for talents and dreams. Resources are deemed to be valuable when they cannot be easily imitated, their value depreciate slowly, they cannot be easily substituted and they are relatively better than competitors with similar resources (Collis and Montgomery, 2008). While these resources may be tangible or acquired capabilities, it is the view of this author that it is people that best fit the described characteristics of valuable resources. Creativity and expertise of an employee may not be easily duplicated. It takes time to groom talents, and their experiences and competencies cannot be easily replaced. Thus, to gain a competitive edge, companies need to invest in the hearts and minds of the key success factor – human resource. Many studies have shown that effective HRM (such as investments in training and strategic HRM) had led to increase in company performances, through proxy indicators such as increased profits return, labour productivity, and service quality. In the employee-customer-profit chain model devised by senior management at Sears, they predicted that a 5 unit increase in employee attitude will drive 1.3 unit increase in customer impression that will in turn increase revenue growth by 0.5% (Rucci et al, 1998). When put into context, in 1998, a 4% rise in employee and customer satisfaction translated to an increase in more than $200 million of revenues over a 12-month period (Rucci et al, 1998). Other than the example on Sears, Choudhury (2010) showed that there is a positive relationship between investment in human capital and company performance in India’s information technology sector. Similar positive correlation can also be observed from studies analysing quality of human capital an d sales revenue per employee in Romanian software companies (Camelia, 2012) and perceived effectiveness of rewards on corporate performance in Nigerian Banks (Ojo, 2011). As an important asset of the organisation, human resources need to be managed properly. HRM encompasses a multitude of responsibilities including recruitment, training and development, benefits, health and services (Noe et al., 2012). There are many case studies that have demonstrated that a highly-skilled workforce and appropriate training of employees play a key role in increased company performances. A survey done on 62 retail stores showed that percentage of personnel trained in their designed training programme correlated with the stores’ performances (Russell et al., 1985). Another study done in 15 manufacturing sectors of seven European Union countries suggested that intermediate- and highly-skilled workers increases labour productivity, which is a proxy for companies performances (Corvers, 1997). It is envisioned that with training, employees will be equipped with job-related skill sets and competencies. A company with cutting edge technology needs employees with the know-how to operate the machineries. A retail shop may distinguishes itself from another shop that sells similar merchandise through quality services that helps build a brand name and large clientele. Employees may learn how to serve customers through training programmes. A study of 2003-2006 Training Top 100 survey report published by the Training Magazine showed that there is a positive correlation between training expenditure and operating performances (Liao et al., 2011). This supports the general perception that training is an important HRM tool for companies to survive in the increa singly competitive market. Human resource is a key contributor to the success of organisations today. Examples used in this essay reinforced the argument that human resource is likely to the most important corporate asset as it is a unique resource that drives companies performance. In order to effectively tap on this valuable resource, companies need to train employees so that their potential can be harnessed.

Importance of Strategic Planning Essay

The small business I would like to start would be a candy store. This paper will define strategic management, planning and explain why a strategic plan is important to the success of this business, and explain the four functions of management relative to creating and implementing a strategic plan. Strategic Management is the groundwork for a company’s vision and allows a company to be ready to capitalize on opportunities. Strategic management is a process of evaluating a company’s mission, establishing the company’s design, developing the company’s organization and relationships, and guiding the company’s plan to execution to ensure that the management is consistent with the company’s strategy. Strategic management also enhances or protects the company’s interests and defines the way a company wants to expand or focus. Strategic management if often overlooked and should be the first step in defining a company’s core values, mission, and product focus (Fazzini, 2008). Strategic planning is so important to the success of my business. Its size is what makes strategic planning so important because it means growth from small to a thriving international corporation. This is basically a growth plan. Meaning where wells it be 3 years from now or 5 years or 7 years from now. First he or she must focus on gathering data about the internal and external environment of their company. He or she must also consider outside socio-cultural factors and inside factors, including management style and workforce (Strategic Planning, 2007). One of the most important factors is having goals for your company. Make sure your goals are attainable and reasonable; follow the SMART rule – specific, measurable, attainable, realistic, and time-bound. By following this rule, it makes goals attainable. By being the owner, I have the yeah or nay when it comes to decisions. However, in order to have a successful business, your employees should have a say in some decision-making. This ensures that the company works together to obtain set goals. Finally devise an action plan. List possible and specific courses of action then choose what all you deem as most suitable. Define a schedule for everything but also give leeway for unexpected delays. During this time also set a budget. PlanningPlanning is a function where managers work together with others in the organization towards a common goal. Whether the goal is to increase profits or retaining employees is not the point. Working together and coming up with a plan to achieve that goal is. To be competitive in a local or global economy you need to begin by coming up with goals and create a plan on how to achieve them. Sometimes change is needed in leadership. Goals may need to be changed and updated from time to time. The planning stage will help in laying out these goals and the steps the organization will need to follow. OrganizingOrganizing an organization’s resources is the next step toward success for any management team. What can a business offer to attract employees, how can they acquire the financing they need, or what are the proper materials needed to get the project off the ground? These are but a few of the questions that need to be answered during the organizing phase. All the resources need to be organized so they can be used to the companies highest potential. If a company has strong financial backing but fails to offer incentives to retain their employees will fail in the end. The employees are who keep a company running. It is such a waste to spend the time and money to train an employee, then turn around, and offer nothing else but a pay check. Employee benefits and regular training are a few beginning incentives to keep employees interested in staying with your company. If the employees are not happy they will eventually go somewhere else and the company will have to spend more money to hire and train more employees to replace the ones that left. LeadingLeading people towards doing their best is a skill greatly needed in management positions. Helping coworkers to achieve the goals and programs of the company through two-way communication can help employees feel like their contributions have meaning and will be considered. Management that leads the  employees to contribute will have a better chance of success than a company that â€Å"tells† and expects the employees to blindly â€Å"follow.† The employees see the daily function of the organization. Many times he or she sees what does and does not work before management does. Management needs to take this information and use it to lead the company. ControllingEven with planning, organizing, and leading, you still need to exert some control to keep things on track. Managers need to know what it going on in the organization and be able to make changes when needed. A manager can also exert too much control over a situation by not helping the employees to think and work through a problem that may have arisen. A company that encourages its people to think is a company that will be able to succeed in the long run. As important as planning, organization, leadership and control are in a company, you need all these functions for the company to succeed in the business world. You cannot have planning and leadership with a small amount of organization and no control and expect things to work out well. Each function depends on the others to support and carry the organization. A successful company implements all four functions and uses the managers and employees to the best of their abilities. References Fazzini, D. (2008). How to Define Strategic Management. Retrieved July 6, 2008, from http://www.ehow.com/how_2364537_define-strategic-management.html?ref=fuel&utm_source=yahoo&utm_medium=ssp&utm_campaign=yssp_artStrategic Planning, (2007, March 15). Why Strategic Planning is Important Even for Small Businesses. Retrieved July 7, 2008, from http://smbconsulting.wordpress.com/?s=Why+Strategic+Planning+is+Important+Even+for+Small+Businesses&submit=

Presidential Paper Research Example | Topics and Well Written Essays - 1250 words

Presidential - Research Paper Example He was instilled with a sense of charity and the importance of giving to others (Morris, 1979). Throughout his childhood, he struggled with many illnesses that he had to overcome (Miller, 1994). That spirit of conquering whatever he was faced with would stick with him throughout his life, making him an exceptional leader and a person of great accomplishment. Theodore Roosevelt would have been known for his many accomplishments, even if he hadn’t become President. In terms of government office, Mr. Roosevelt held many public offices prior to being elected President. He was an assemblyman for the state of New York and governor of New York as well. He was also the Police Commissioner of New York City, a U.S. Civil Service Commissioner, a sheriff in the Dakota Territory, Assistant Secretary of the Navy and Colonel of the Rough Riders and Vice President of the United States (Roosevelt, 2012). This was all accomplished before he became President when he was 42. During his career, he also ran for Mayor of New York, but was not elected. Teddy Roosevelt was the nation’s first environmental President. Those before him did not have any type of effort towards the environment. President Roosevelt protected 230 million acres of land while he was in office (Roosevelt, 2012). This 230 million acres included 150 National Forests, 51 bird reservations, 5 National Parks, 18 National Monuments and four game preserves (Roosevelt, 2012). The fact that in the early 1900’s he thought to preserve land is impressive considering that those dedicated lands still exist today. He also made land preservation and conservation a topic for consideration which had not previously been of interest to the people and to the government. Now, in 2012, political campaigns always include opinions about the environment and conservation. It is

Situational Analysis Report about Jetstar Airways Essay

Situational Analysis Report about Jetstar Airways - Essay Example It has continued to expand, opening new routes every now and then. Its dominance in Australia is apparent. Nonetheless, Jetstar Airways has on several instances been accused of discrimination against persons with disability and poor employee relations. However, Jetstar Airways is not immune to competition. It has faces stiff competition form other low-cost airlines such as Virgin Blue and Tiger Airways. This report therefore provides an extensive analysis of Jetstar Airlines with regards to its market situation, product situation, distribution situation and competitive situation. Also, using the SWOT analysis, the report gives a brief summary of Jetstar’s strengths, weaknesses, opportunities and threats, and finally an analysis of two main issues that the airline has created as a plan for market strategy. In this regards, the identified issues are: desire to expand and enhancing employee relations. Product overview Jetstar Airways specializes in providing a low-fares network o f airlines that operate in the leisure as well as value based markets. In Australia, Jetstar operates across 17 domestic destinations. Its mission is to provide all day, every day low fares to enable more people to fly more often (Jetstar.com). Indeed, it is palpable that Jetstar Airways has been committed to its mission as it continues to offer the lowest air fares in Australia as compared to its major competitors. Due to its amazingly low-cost services, a Jetstar airway has been crowned a myriad of awards. For instance in 2009 and 2011, it was ranked the best low-cost airline in Australia by Skytrax. In 2007 and 2008, it was awarded the Low-cost Carrier of the Year (CAPA), among many others. It is credited for being the first Australian airline to allow its passengers an opportunity to select their seats when booking for a flight (Jestar.com). With specific reference to pricing, Jetstar offers exceptionally low prices for fights. The airline operates over fifty airbuses of various sizes, majority being Airbus A320. Currently for instance, the charges from Sydney to Brisbane is $ 79, Sydney to Cairns is $139, Sydney to Hobart is $ 99 whereas from Sydney to Adelaide is $ 100.Despite this amazingly low prices, Jetstar still affords incredible margins. For instance, as per the six month ended 31st, 2011, Jetstar Airways recorded an unaudited earnings of $1,565 Million in terms of total revenue and other incomes. This was an increased from the previous $1,346 million reported in the previous year (Jetstar.com). With regards to competition, Jetstar Airline veneers s stiff competition from two major airlines in Australia. The most eminent competitor is Virgin Blue Airways which commands about 31 percent of the domestic flights in Australia. It operates 2,100 flights in a week with 68 modern aircrafts. Virgin Blues Airline provides very competitive prices. For instance, whereas Jetstar charges about $100, for a flight form Sydney to Adelaide, Virgin Blue charged $12 0 for the same flight. As a fact, Jetstar was established as a response to the threat posed by Virgin Blue. The other major competitor is Tiger Airways. Based in Singapore, Tiger Airways was launched in 2007 to provide low cost airlines as well. It tends to charge lower prices compared to Jetstar. For instance, the price of a flight form Sydney to Adelaide is $49, to Melbourne is $29 whereas to Gold Coast is $39. SWOT analysis At this juncture, it is important to

Project deliverable 1&2 & PowerPoint Assignment

Project deliverable 1 & PowerPoint - Assignment Example 7 1.3. 7 Definition of terms 7 Web analytics 8 References 9 1.0 Business Requirements 1.1 Project overview In the current constantly advancing technological world, web analytics are a set of very vital tools for promoting businesses. This project entails design and implementation of an upgrade of the current Information System. This is to aid the company in becoming very competitive and enable smooth expansion of its Information Technology Infrastructure. This project is aimed at providing the company with an advanced Information Technology Infrastructure that will leverage the data collected in Web analytics to promote company’s essential marketing plans. It entails coming up with a real time web analytic software tool. The tool will be used for capturing web logs, examine them and generate reports. It further focuses on provision of reports for measurements of web traffic parameters such as page views, visits unique visitors and other customizable features. The project is de signed and built to re-engineer the current system used in the company. This project is considered to be very important in solving problems that exist in the current system which include lack of scalability to adapt to the changes and expansions that the company undergoes. 1.2 Background including current process Currently, the company’s has a well designed and operational information system. The system entails a Web Analytics module interacting with operating systems data to provide the company with necessary information such as its current market value. Essentially, the current system provides a significant amount of data. However, due to the speedy growth the company undergoes, and the inability of scaling up the current system it necessitates upgrading of the whole Information System. The main goal for its implementation is to support the expected growth that the company is anticipating. That is, to ensure that the Information Technology is expanded to meet current over g rowing web data that is very vital for optimal business Performance. The Information Technology role for this project is to promote business data capturing and processing at the company. It further aims to ensure that the company’s Information System guarantees business data confidentiality, integrity and availability. 1.3 Scope 1.3.1 Scope of project In order to ensure that the project provides the targeted or expected deliverables within the set out time frame, the project scope entails coverage of the following very essential areas. A well designed and integrated web analytic software application will be developed. Due to time constraints, only the following modules will be focused on. A dashboard module will be tasked on provision of a bird’s eye of all data captured, processed and those under processing. A visitor’s module will deliver variables of all those visitors of a web page. Thirdly, an action module will be used at adding a web page, deleting it or doing modification as specified in the module itself. A management module is a key functional feature that will be used at controlling user login, new system user registration and other essential features. A distributed relational database system will further be integrated to the software application to aid in smooth expansion of the company’s Inf

The Artistic Genius Andy Warhol Research Paper Example | Topics and Well Written Essays - 1750 words

The Artistic Genius Andy Warhol - Research Paper Example The paper "The Artistic Genius Andy Warhol" focuses on Andy Warhol. As a small boy, Warhol was always obsessed with the looks. He would at times wear wigs to try and change his own looks with make ups on his face. This is a special attribute that would later help him in his career. Different people of the world distinguished Warhol’s work from the rest in the way he always tried to â€Å"make up† faces of the individuals he used in his art work.1 The sexuality helped shape his life. It is hard to understand who Andy Warhol personally was even though he was such an iconic figure in the American culture; there are so many things in his life that could not be easily substantiated. Who was he? Was he ever married? Why did he always want to be famous? He even wanted so much more than what life can basically give. He wanted to be famous, rich and beautiful.2 It is very hard for an individual to achieve all these things in life but Andy did everything he could to be what he al ways aspired to be and just like his personality, his art work is equally hard to interpret in terms of humor, irony or even beauty. It is like he portrayed his personality through the paintings. Some individuals even suggest that he used to ask his friends the things he should paint but after being fed with the information he would then ignore the suggestions and instead incorporate his own ideas. He always had his own ideas. This is quite a special attribute towards originality especially in the field of art and even music.

Stalking Essay Example | Topics and Well Written Essays - 750 words

Stalking - Essay Example This intake form is thus intended to gather some required information so as to make sure that the intensity or the level of the severity of the stalking can be realized. Basically, stalking is the sequence of actions by some person, that makes the victim feel that the fear of his or her safety. This action is known as Stalking. A person can be stalked in many ways such as following the victim, harassing him or her, continuously wandering around his or her house, unwanted communication by various modes or any other activity that is sufficient to make the victim feel frighten. Although the exact legal definition of stalking varies from constitution to constitution. However, the fundamentals are common in all of them. . Such as any undesirable contact between the stalker and the victim that would directly or indirectly threaten the victim of being unsafe. 1. On one or more occasion, the stalker has followed, placed under surveillance, made threats, restrained, confined, or behaved and/or made threats that caused the victim to fear immediate or future injury, death, or damage to property A first stalking conviction is a third degree felony and subsequent convictions are second degree felonies. In some cases, when charging a person with a crime of stalking, it may be appropriate to file additional charges. For example, if an assault with a deadly weapon occurs in addition to the stalking, the defendant should be charged with both crimes. INTAKE FORM Name: Age: Gender: Marital Status: How long you are married Occupation: Past Occupations: Do you know the stalker If yes, how do you know him Since when you know him Does he mention the (or is there any implied) reason for stalking you Since when you are being stalked What mode or modes are used to stalk you continuous physical following; Undesired communication (by using modes like letters, mails, telephone calls etc.); continuously wandering around your home contacting your family members, friends, or other relatives or members od your close social circle inappropriately; Threatening you using computer technologies, like email, instant messages etc. Others: (Please mention) What is the frequency of each of the above methods used to stalk you Do you receive all the threats at the same time If yes, when What is exactly the stalk message Do you know the past track record specially character record of the stalker If yes, please mention briefly his past record. (If you do not know the exact stalker, but if you suspect someone to be the stalker, even then attempt this question, since this is the most important measure in determining the severity of the issue). Mention your daily routine in detail, for example when do you go for work, what mode of transport you use and so on In your view, does the stalker have an idea of your routine What particular part of your routine, you think, is the most inviting one for stalker to fulfill his threats EVALUATION AND THE ASSESSMENT FORM This part describes that how various responses indicate the level of severity. Bio Data: The basic