HR in a Financial Crisis - 2627 Words

The Role of Human Resources in a Financial Crisis Contents Executive Summary 3 Literature Review 4 Recession and Human Resource Strategies 7 Case Studies 8 Conclusion 12 Works Cited 13 Executive Summary The role of human resources in a financial crisis can be one of the most important roles in preserving the overall health of an organization in times of uncertainty. The role of Human Resources contains such functions as maintaining motivation of the employees and fostering morale. However under some conditions it can be virtually impossible to maintain morale due to high levels of uncertainty surrounding the business, the industry, or the macroeconomic environment in general. During the most recent crisis 2009, which was considered a Global Recession, many companies faced tough choices regarding the workforce levels they maintained. Many companies were forced to implement hiring freezes, pay freezes, and some even had to layoff many of their employees. During times of harsh macroeconomic conditions, it can be extraordinarily challenging to maintain high levels of morale. One way to describe the challenges is that there are massive amounts of uncertainty on all levels. Employees esp ecially often may have job uncertainty that contribute to job-related stress. In such situations employees might become so stressed that it makes it difficult for them to perform their job duties especially when job security is one of the issues that they are concernedShow MoreRelated3rai1059 Words   |  5 Pages1. Explain why an organisation needs to collect and record HR data. Reasons why organisations collect data To meet legal requirements: †¢ Checking that each employee is eligible to work in the UK †¢ Ensuring that the Company is complying with any governing body e.g. FCA †¢ Making sure that processes such as grievances, disciplinary, maternity etc. are performed in the correct manner. To help make informed decisions: †¢ Understanding whether the company needs to expand andRead MoreGeneral Motors, A Multi Billion Industrial Organization1471 Words   |  6 Pagesimplementation of joint-stock and expert group management. But all companies run into barricades of problems in their time, especially for huge organizations. And one of the problems for General Motors was about their Corporate Culture. This culture crisis led to at least 13 deaths which came from a 325-page independent investigator report (Volukas report). The company received a lot of flak in during this time thus forcing them to make huge changes (as per GM CEO Mary Barra). In this report, we willRead MoreGlobal Crisis1656 Words   |  7 PagesGlobal crisis occurs due to financial crisis and economic crisis. These are nothing but risk that could threaten humankind as a whole or even cause the end of planet Earth. A financial crisis is a situation where money demand quickly rises relative to money supply. A stock market crash is an example for this. Whereas economic crisis refers to the economic down of countries all over the world. They are going down in -ve zone. Global economy has become a hot topic for international forumsRead MoreHcp Essay842 Words   |  4 PagesYour views with respect to the legal rights of HCPs during times of crisis. Our views concerning the legal rights of HCPs during times of crisis align with the general recommendations published since the last SARS crisis in Ontario. The SARS crisis brought several legal and ethical debates to the public place. The most popular topics related to the legal rights of HCPs during times of crisis surround were: †¢ The HCPs’ â€Å"Duty to care† vs. HCPs individual rights and personal autonomy to use some discretionRead MoreTrends in Hr Practices During Recession !1185 Words   |  5 Pagessuggest that if the human element was responsible for plunging companies and the world into this deep financial crisis, then the human resources of an organisation are also perhaps the best bet to help it emerge out of the same. And this is the reason why experts view this period of economic recession as an opportunity for HR management rather then a crisis. The recession is an opportunity for HR professionals to step and contribute strategically. In the classical strategy paradigm, we begin byRead MoreEvolution Of Human Resource Management Essay974 Words   |  4 PagesEvolution of Human Resource Management Administrative Functions The objective of the Human Resource Department is to design management systems to ensure human talent is maximized to effectively and efficiently achieve organizational goals. HR has seven functions that are intertwined. These functions are global, environmental, cultural geographic, political, social, legal, economic, and technological. Human resource management has the potential to drastically impact the success and effectivenessRead MoreImpacts of Global Financial Crisis on Hrm Policies8256 Words   |  34 PagesWhat is the role of hr in global crisis to retain the talented employees ? http://www.edalys.fr/documents/Stakeholders%20theory.pdf http://lexicon.ft.com/Term?term=stakeholder-theory Article - 1 Employees are not the most important asset of the company but the â€Å"right† employees are. Human Resource Management (HRM) plays a strategic role in the survival of an  organization. In this time of global financial crisis, Human Resource (HR) managers must not only innovate but must also act as change agentsRead MoreThe Problems Of The Healthcare Industry1528 Words   |  7 Pagesmedical centers of how taking decisions caused cost crisis in their facilities and for the Organizations. We realize that when the employees are not happy and when the Leaders make errors in judgement and behavior the economic ramifications are huge. The Pine Village Community Medical Center: The Community medical center which was once 280 bedded had to make one third of its facility to assisted living and lay off 25 employees due to financial issues and changes in the uncertainty of Government regulationsRead MoreEcon984 Words   |  4 Pagesrepresents the entire production of its economy, where the table shows the production of goods and their prices for 2012 and 2013: Streaming Movies Popcorn 2012 {quantity, price/unit} {10000 hrs, $1.00/hr} {5000 bags, $2.00/bag} 2013 {quantity, price/unit} {12000 hrs, $0.95/hr} {4000 bags, $2.20/bag} (a) Calculate nominal GDP for each year. Calculate the percentage growth rate of nominal GDP. [3] (b) Calculate real GDP for each year using 2012 as the base year. CalculateRead MoreCrisis Management in Today Organization: Hr Strategic Role1796 Words   |  8 PagesCrisis management in today organization: HR strategic role 1. Introduction What is a crisis management? It is an unexpected crisis that happens on the company that will affect the trust and loyalty of the stakeholder. It can be extremely costly because it will affect the company reputation and brand. For example like financial failure from poor business management, workplace violence, fires, cybercrime, computer viruses, product tampering or union strikes and other external issue like damaged economy

Essay on Barbarous Retribution and Revenge - 931 Words

Edgar Allan Poe’s stories are credited for having horror-filled endings. Usually darkness is considered to be a good representative of evil, so the setting in â€Å"The Cask of Amontillado† is at night-time. This story deals with the jealousy, revenge and, more importantly, wounded family honor. A man named Montresor, whose name is not discovered till the end of story, is seeking vengeance on Fortunato, who has irreparably insulted him. The very first sentence: â€Å"THE thousand injuries of Fortunato I had borne as I best could, but when he ventured upon insult, I vowed revenge†, supports the theme of revenge (Poe 161). This theme also suggests that Fortunato had aggrieved Montresor thousands of times, but whenever he insults Montresor and his†¦show more content†¦However, Fortunato is unaware about Montresor’s plot for his death. Montresor’s acknowledges, â€Å"He must not only punish but punish with impunity† (Poe 162). He wants to avenge but does not want to get punished back for his wrongdoing because he thinks that he is right in his decision to kill Fortunato. Charles N. Nevi mentions, â€Å"Fortunato, of course, is the uninitiated who hears but does not understand. Montresor is the initiated who hears and understands all†. Montresor never lets Fortunato suspect his hatred towards him and urges Fortunato to go inside the vaults. Although their friendship seems alive, a sense of hatred and envy has demolished their friendship. â€Å"Just as Fortunato displays a concern for the distinction between an amontillado and a sherry, so too does Montresor displays a concern for the distinction between an authentic, mature, and refined friend† (Lewis 180).Thus, this metaphor reveals that Montresser is jealous of Fortunato’s superficiality. In addition to his drive for revenge, â€Å"the conflict between Montresor and Fortunato may be part of their blood feud† (Barbaran 58). Fortunato seems to possess more wealth, power, and is socially conspicuous, of which Montresor is jealous. Montresor clarifies this envy as he says, â€Å"You are happy, as once I was. You are the man to be missed† (Poe 162). Although Fortunato continuously drinks and coughs inside theShow MoreRelatedAnalysis of Hieronimo in The Spanish Tragedy1344 Words   |  6 PagesHieronimo is a symbol for the authority of law within The Spanish Tragedy. From his soliloquy in act III scene II, one can see Hieronimo’s ambiguity in deciding whether to pursue either justice or revenge. It could be argued that Hieronimo’s actions and concerns change throughout the course of the play by the wills of others and not his own desires; thus representing the failed authority of the law. This can be shown by analysing Hieronimo, Bel-imperia, t he Gods, Lorenzo and the Law. Hieronimo’sRead MoreThe Pros And Cons Of The Death Penalty1331 Words   |  6 Pagesopposition. There are things included in both sides that can make the argument harder to be one-sided but I believe that the death penalty should be legal throughout the entire nation. Not only does it create deterrence, it also creates morality and retribution. Although that I agree there are some arguments that the opposing side can make, the pros outweigh the cons. As I stated before it’s a form of deterrence, As the Shannon Rafferty E-Portfolio states, â€Å"The use of capital punishment greatly detersRead MoreThe Death Penalty Should Be Legalized1672 Words   |  7 Pageslegalized the death penalty there are 14 that have abolished it. I believe the whole nation should legalize the death penalty. There are many reasons as to why I believe the death penalty should be legalized in every states, including deterrence retribution, and morality; and because opposing arguments do not hold up. While the death penalty seems to be a stupid act, it is necessary because it creates less crime, it does cost money, But has been historically found to have less crime. The use of deathRead MoreBeowulf : Virtue And Community1658 Words   |  7 Pagescannot be considered historically accurate, Beowulf offers a familiar look into the feuds, truces, alliances, and political intrigue within its heroic world. It continues fascinating readers as well because of its prominent themes such as community, revenge, violence, and, religion. To start with, the central function of a clan is the relationship between the lord of the clan and his retainers. Upon the receiving gifts the bond between lord and retainer, and in return for goods received, the retainerRead More Capital Punishment Is Necessary Essay1488 Words   |  6 Pagesmerciless way to defend their nation from the aggression of other countries. Why public safety doesn t deserve as much respect and protection as a nation s national security does? In fact, it can be argued that supporting armies and war is far more barbarous than the death penalty is. The one of the main reasons why nations and governm ents exist is to defend their citizens from vicious criminals. When it fails to do that, they become of little use to its citizens. People throughout all the nations willRead MoreShould The Death Penalty Be Legal?1638 Words   |  7 Pagespain from the loss of relatives, how will you think and act when you informed that the criminals still alive and your relatives no longer live in this world? It will upset victim s family and make them trapped in sorrow, even arouse the flame of revenge. So, the death of the criminals will get victim s family relieved. Secondly, I suppose death penalty, served as a ethically correct deterrent for the criminals which helps in reducing murder rate.The article We Need the Deterrentoffers justificationRead MoreThe Dropping of the Atomic Bomb1290 Words   |  6 Pagespackage.† (Beason 1). Some argue that the first bomb may have been required to achieve Japanese surrender, but the second one was a needless act of barbarism. According to Admiral William D. Leahy, the President’s Chief of Staff, â€Å"The use of this barbarous weapon at Hiroshima and Nagasaki was of no material assistance in our war over Japan. The Japanese were already defeated and ready to surrender†¦Ã¢â‚¬  (Beason 1). However, I have many facts to counteract all of these criticisms and to support PresidentRead MoreThe Pros And Cons Of The Death Penalty1939 Words   |  8 Pagesdefinitely deserves death penalty. Death penalty should continue in order to get rid of the trash of our society. Not everybody deserves to die, but some people definitely do. I support death penalty because of several reasons including deterrence, retribution, and morality. The use of a punishment like death penalty greatly deters citizens from committing crimes such as murder . Many people’s greatest fear is death,so by knowing that death is a possible outcome for their actions, they are less likelyRead MoreCan The Death Penalty Ever Be Justified?1828 Words   |  8 Pageshighlight the moral gravity of the crime. The death penalty can provide victims with a cathartic moment of closure, but more importantly, it serves a retributive purpose: it gives the perpetrator what he/she deserves. To connection retribution with revenge is misleading as retribution is sought by the state in the name of impartial justice rather than as an attempt to abate inflamed feelings of rage, allowing the state’s use of the death penalty to escape the common fallacy of tu quoque. By using capitalRead MoreThe United States And The Civil War1726 Words   |  7 Pagespacifist nor a man willing to work through political or legal channels.† His fervent anti- slavery views can be seen in the provisional constitution he wrote in preparation for the Harpers Ferry raid, writing that slavery is â€Å"none other than a most barbarous, unprovoked, and unjustifiable war of one portion of its citizens upon another portion.† In Brown’s view, a violent slave insurrection was the surest way to achieve universal emancipation. News about the raid traveled quickly, and was reported

When My Cats Should Be Destroyed - 2207 Words

When my cats get to going, it is probable that my house may be destroyed. They aren t kittens any longer, but when they play together, they might has well be. They chase anything and everything, and they can make a mess out of the most unlikely things. This isn t usually a problem for me, but when they start scratching the furniture, that is when I have to get the spray bottle out. I have one sitting by my desk, and one in the living room just to keep tabs on my cats. I have them filled with water, and we all know how cats feel about water. They don t like it for anything other than drinking. If you don t believe me, go ahead and try to give your cat a bath. That should put all of your doubts to rest. I don t like to use any form of discipline that might hurt my cats, so I stick to the water spray bottle. When they begin to scratch something they shouldn t be scratching, a few sprays with the bottle stop them instantly. After a few times of this, they give up on that spot all together. They aren t stupid! The spray bottle is always good for the middle of the night. My cats, like most cats, sleep all day and wander around the house at night. This is how most cats are, but it also protects them from my daughter. She means well, but she always ends up hurting them. If they are awake at night, they are safe from her bungling. This also means that if they play at night, it is going to wake me up. We live in a smallish apartment, so they tend to play in my room. If theyShow MoreRelatedThe Black Cat By Edgar Allan Poe1117 Words   |  5 Pages Edgar Allan Poe’s narrator in â€Å"The Black Cat† describes himself as a lover of animals and a man with a kind heart. But he uses his animals and alcoholism as an excuse for his perverse behavior. However, Poe drops hints though out the narrative to tell a different story. His violence towards animals tells the story of an irrational man who weeps while hanging his cat. Therefore, Poe employs the narrator to show the human tendency to use scapegoats to shift blame for the wrong thing we do. The narratorRead MoreFilm Review : Braveheart And The Cat In The Hat777 Words   |  4 Pages In my short span on this planet, I have spent probably about 2 years of my life watching movies. Of those movies, two stand out as the best and worst films I have encountered and these movies are Braveheart (the best) and The Cat in The Hat (the worst). After struggling to recall all the amazing films I’ve been exposed to, I’ve concluded that the best film I’ve ever seen was Braveheart. The film was directed by the iconic Mel Gibson, who also plays the leading role of the legendary thirteenthRead MoreAuthor of Mysteries to Horror, Edgar Allan Poe Wrote Tell Tale Heart and The Black Cat in One Year710 Words   |  3 PagesPoe wrote two stories, â€Å"The Tell-Tale Heart† in January and â€Å"The Black Cat† in August. The first story is about a man who tries to convince the reader of his sanity by describing the murder he committed of an old man. The second story is about a man who accounts on his transformation into a murder. Some believe that the two stories were based off one another due to the similar plot lines. In â€Å"The Tell-Tale Heart† and â€Å"The Black Cat†, Edgar Allan Poe develops a relationship between the confessions ofRead More Edgar Allan Poe Essay1406 Words   |   6 PagesIn Edgar Allan Poe’s short stories the black cat and The Tell Tale Heart, both terrify the reader by making them believe they are the person going through these terrifying tales, as they believe they can hear the heart pound under the floor boards as in The Tell Tale Heart. Or they feel very cocky as showing the police round the basement 2 – 3 times until it all goes wrong, they feel it was them who committed these awful crimes. In the Black cat short story, it is the madness of the charactersRead MoreAnalysis Of Hansel And Gretel 943 Words   |  4 Pagesand â€Å"innocence† are known adjectives when one thinks of a child, thus fitting almost perfectly when describing Hansel and Gretel. With these natural childlike traits instilled within the two, they have no choice but to become dependent upon one another. These two brothers have constructed a great deal of imagery throughout the story which represents the innocence of a child. The authors develop symbolism throughout the story which in return, helps support my thesis. Unless one takes a closer lookRead MoreMuna Sealy, My Life562 Words   |  2 PagesVisitors were special occasions for me when I was 10. If anyone knocked on our door, I was always the first to answer. Id reasoned that someone had to be the host at our house. It was a difficult, sometimes unrewarding task, but I knew I could handle the job. Gracefully, I accepted the responsibility of being the guide for our guests. I was a precocious little shit. The grand tour would begin on the top floor. There, I would blankly note the rest of my familys bedrooms. I figured that sinceRead MoreMockingjay Essay1269 Words   |  6 PagesThe book I chose to read for my second quarter government book was The Mocking Jay from the Hunger games series. The author of this book is Suzanne Collins. There is a lot that goes on in the story, involving many things in the war of her districts. It is causing a rebellion in the districts. Katniss takes stock of her new position as a rebel in District 13. Only three victors were saved from the arena from the last book from the Hunger games series; Beetee who is  an old man from District 3, alsoRead MoreCreative Writing : Essay1397 Words   |  6 Pages That she hadn’t destroyed everything by her inability to get in contact. That he was still there, somwhere, lurking in the darkness. Sitting at home she had even tried to access the dark web, but even after extensive Googling she was still unable. It pained her to admit that it was entirely over her head. She hated computers. Frustrated she had focused on studying instead. Four days until her final exam, five days until she began her surgical internship. Hannah knew she should be excited, nervousRead MoreReview Of Edgar Allan Poe s The Black Cat And Fall Of The House Of Usher 1451 Words   |  6 Pagesreaders, which attributes to his widespread popularity. In his short stories, â€Å"The Black Cat†, and â€Å"The Fall of the House of Usher†, along with his poem â€Å"Annabel Lee†, author Edgar Allan Poe demonstrates both perversity and fear through the use of literal and figurative imprisonment, freakishness, and obsessive love, as factors causing violence and destruction in the lives of his characters. In the â€Å"Black Cat† the narrator tells us his story from the inside of his prison cell as he awaits his trialRead MoreShort Story : My Story800 Words   |  4 Pagesvery hard to be invisible to the world, to be something youre not. But for you to understand I would have to tell you my story. It all started in the little town of Black Ridge on Halloween night. Joe, my best and only friend, and I got our costumes on and headed for the nearest decorated home. We were enjoying our Halloween until the school bullies came along they would make fun of my missing left hand and on how short and stubby Joe was. This time they dared us to go into the abandoned Jacobs mansion

Design for Business Share in the Global Market

Question: Describe about the Design for Business for Share in the Global Market. Answer: A1. A huge range of the audio system, televisions, telephones, loudspeakers is sold by the BO in the April 2006. The successful selling of the DVD players, cordless telephones, home theatre system and many others showed a great interest towards using of latest gadgets among customers. The competitors like Sony, Thomson took a large competition with customer preferences, as did the outsider's company such as Apple, Microsoft, and many others with their huge marketing budget. According to Austin and Beyersporfer (2007, p.18), BO is best at their production strategy which protects their share in the global market. Many small companies have tried to imitate them but they never succeed due to the complicated understanding strategy for others, their unique materials and too expensive techniques used by BO. The other rivals are trying to catch up the position of BO by producing the new technology gadgets at a cheaper price than BO. This illusion may make the customers switch to the other companies. Moreover, the political instability and economic disorder may cause of big fluctuation risk in currency as they presently operating more than 150 countries. Therefore, they need to think about the currency fluctuation risk before entering a new market, as this is one of the main problems to be worried about. A2. The designing process of BO starts with coming up with new ideas which are mainly brought by their engineers. The engineers constantly search new idea with new technology with proper interpretation and right concept. However, BO resurfaces the rejected ideas and give those around of second or third. The second step is substance, which refers a personality with uniqueness. Usually, BO brings some cardboard to sketch their thinking. Once they pass the initial process, they go for a hardware process with the software-based environment of prototyping, which is hardly used by other companies. Then they figure out what items to be produced in what manner with the help of artisans, engineers, managers and designers. The designers get involved throughout the development. Unlike the competitors, they put the things open for applying the idea if it arises even at the end of the production line. Austin and Beyersporfer (2007, p.20) has commented that BO produces a large number of home elect ronics products at a cheaper rate, whereas the other competitors use to produce high volume products with long life and this benefit of cost segmentation share in the market makes BO unique worldwide. The firm is an 80-year-old company with a very successful design process, which changes the winning approach in the global market. A3. Strength: The greatest strengths of BO are the high-quality performance and the unique technologies, which bring their products a brand value. For their technical solutions and great designs, they have won some awards. The other main strength is the customer care and customer relationship. Usually, they offer their customers from B1 shops for which they receive the choice of getting their desired products from the spot. Moreover, they build a strong relationship with the suppliers also. A good relationship with them and retention of them decreases the complexity of searching high quality of product at a certain price without bargaining for price changing. Weakness: In 2008, they faced a huge financial crisis for which the cost of the products got higher. Nevertheless, due to the presence of other cheaper products in the market, the customers are moving to the rival companies as everyone wants to be the first in the race for the intense competition growing in the world. Moreover, the cost of labour, the stock of raw materials, higher shipping cost are also the cause of higher price of BOs product. The competitors take this advantage by offering the customers at a cheaper cost of product unlike the BOs extreme expensive items, which is gradually snatching the position of BO in the market. A4. Idea Lab was located to change the approach of designing process of BO as the number of rivals increases day by day. Everything is going digital so, the process of designing also be changed and more inspirational. Idea Lab realised that to diminish the demerits, they firstly have to communicate with the engineers and the designers. Therefore, in the eight months, they tried to find the proper way to communicate and then started cardboard models and tangible methods for designing. Idea Lab took the graphics initiative and visualisation method to build a demo facility which featured in the customer's kitchen, living room, and bedrooms. They generate new BO media techniques, which are supportable for their product integration and new interface concept. It will definitely work as it has many advantages and it is showed in the past years that the market share also has increased for adopting this policy. Nevertheless, the traditional producers are mainly from the backgrounds of cross-product software concepts. New software solutions are needed to be learned failing which the Idea Lab team would lose the software-designing link as well as the customer preferences. Moreover, they need to think about the currency fluctuation risk before entering a new market, as this is one of the main problems to be worried about. A5. BO have managed their product range into virtual space, but not totally, they have reached as the market is becoming very competitive. All are trying to invent new product with high technology at a cheaper rate. Austin and Beyersporer (2007, p.22) has commented that though they are one of the superior companies selling products physically, but are facing problem virtually. The techniques they adopting are very expensive and time taking also and in that time gap, the rival companies take the entry in the market. For an example, BO is very well established in the sound and design market both in physical and in the virtual market for their lots of experience in the past decades. Despite having so experiences, they cannot cope up with the mobile and tablet market, as there exists a much rapid change; every day something new is coming in this technology. Therefore, it is very hard for a company to remain the same position in the competitive market. In addition, the shipping charges, g overnment rules, and regulations, cost of labour, logistics of raw materials make an incensement in the cost of production. The competitors take this advantage by offering the customers at a cheaper cost of product unlike the BO's extreme expensive items, which is gradually snatching the position of BO in the market. Reference list Austin, R. and Beyersporer, D. (2007). Bang and Olufsen: Design Driven Innovation. Harvard Business School. 1(1), pp.17-22.