...BEST PRACTICE v. BEST FIT How do we know what is an appropriate HR model for a firm? Best Practice Model ! Argument: all firms will see performance improvement if best practice implemented (see empirical evidence) ! Method: identify best practice, give HR a high profile, get top level commitment, sell it, do it, measure it, reward champions ! Advantage: much agreement / tradition on basic best practice. Also recognition of ëbadí practice. Established rules of thumb for selection; training; appraisal methods. No need to re-invent. Itís out there. ! Disadvantage: difficulty arises when we go beyond these straightforward practices. There is great diversity of ëbest practiceí which moves away from uniformity. Pfeffer(1994 listed 16 practices for ëcompetitive advantage through peopleí. Danger of becoming an end in itself at the expense of company goals / interests. Can be conflict between benefit to company & benefit to worker ie reengineering & downsizing. Employees may lose their voice. May not be appropriate in all situations or even in sections of same business. High Performing Work Systems (HPWS) High Involvement ! Ability ñ enhance employee ability & knowledge through good recruitment & training ! Motivation ñ motivate desired behaviours through strong incentives ! Opportunity ñ encourage ideas & contribution from motivated & better trained workers Characteristics of Best Practice Model: Work teams~ flexibility 2-way information ~ comms Care...
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...Simulation MBA Capstone Tasks: Best Practices If you are in the MBA Capstone course, you can see the light at the end of the tunnel. These best practices are designed to help make the stretch of your educational journey as smooth as possible. A mindset of excellence Your MBA Capstone tasks should reflect your highest quality work; your current state of excellence. The standards are high for the capstone tasks. Doing just enough to get by or good enough will result in re-work and re-submissions. The best practice is to strive for excellence. Read for understanding Read the course of study, task instructions, and task rubrics. Seek clarification on any points that might be subject to multiple interpretations. Do not assume; know. The best practice is to be prepared by reading for understanding. Capsim Simulation The designation of MBA indicates the ability to lead and manage both vertically and horizontally across an organization. It is the ability to maximize organizational success by understanding the organization as a system of integrated and interdependent parts. Successful completion of assessments in your MBA courses signals that you know the theories and competencies; the simulation is an opportunity to demonstrate and apply your skills. The best practices are listed below. 1. Read the Team Member Guide; understand your role and the roles of other team members. 2. Complete the Capsim pre-work. 3. Understand the simulation is challenging, time intensive...
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...“Analyzing the Compliance practice of With respect to Worldwide Responsible Accredited Production (WRAP)” A Study On Clifton Textile & Apparels Ltd, Baizid Bostami, Chittagong. (THIS INTERNSHIP REPORT IS SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION WITH A MAJOR IN HRM) Prepared By: Abdullah Al Mamun Matric No: R101195 Program : MBA Semester : Autumn 2011 Internship Duration: 1st September, 2011 to 1st December, 2011 Submission Date: 11th June, 2011 Department of Business Administration Faculty of Business Studies International Islamic University Chittagong “Analyzing the Compliance practice of With respect to Worldwide Responsible Accredited Production (WRAP)” A Study On Clifton Textile & Apparels Ltd, Baizid Bostami, Chittagong. (THIS INTERNSHIP REPORT IS SUBMITTED FOR THE PARTIAL FULFILLMENT OF THE DEGREE OF BACHELOR OF BUSINESS ADMINISTRATION WITH A MAJOR IN HRM) Prepared By: Abdullah Al Mamun Matric No: R101195 Program : MBA Semester : Autumn 2011 Supervised By: Mr. Abdullah Ahsan Mamun Lecturer, DBA, IIUC Internship Duration: 1st September, 2011 to 1st December, 2011 Submission Date: 11th June, 2011 ____________________ Signature of Supervisor Department of Business Administration ...
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...Is Best Practice Dead? Abstract In the light of globalization, HRM becoming from being a mere support function to one of strategic importance and researchers have argued that HRM policies and practices are more significant because they can act as mechanisms for co-ordination and control of international operations. Meanwhile, “best practice” on HRM has been acknowledged to constitute a major constraint when MNCs try to implement global strategies, mainly because of the different cultural and institutional framework of each country in which the MNC operates. Some even argue that best practice is dead. This essay will examine that although best fit play an important role in the practice of strategic HR management, best practice is still valuable in the context of a multinational corporation (MNC). Introduction In the light of globalization, HRM is evolving from being a mere support function to one of strategic importance and researchers have argued that HRM policies and practices are more significant because they can act as mechanisms for co-ordination and control of international operations. Strategic Human Resource Management (SHRM) involves the development of a consistent, aligned collection of practices, strategies and policies to facilitate the achievement of the organization’ strategic objectives (Mello, 2002). The theory of SHRM does, actually, advocate two ways of linking HRM to strategy. The “best fit” approach is associated with the contingency approaches....
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...and practicing best HR practices. In the study, CIMB and Microsoft have been found to promote and practice many notable HR practices. Since our company “CARA SKY” has been trying to perform well but somewhere along the line of performance there is something misplaced or broken. CARA SKY Company has been suffering from employees’ absenteeism, which is being caused the morale of the employees. Having consulted the best HR practices in CIMB and Microsoft, the objective is to accommodate or apply some newer hr practices to reduce the problem of employee absenteeism in CARA SKY Company. CIMB CIMB Bank is one of the reputed banks operating in Malaysia. CIMB has started its operation back in 1920s by starting a bank in Sarawak. For the last 95 years, CIMB has been operating successfully and also expanding their business to some Asian countries namely Singapore, Indonesian, Cambodia, and Thailand. CIMB has two mainstream banking products namely – CIMB banking solutions for conventional customers and CIMB Islamic window for Muslim customers (Cimb.com, 2015).The company vision statement is to be the Premier Investment Bank in Malaysia post liberalization and deregulation and mission statement is to invest in our people to derive a culture driven by innovation to deliver quality service whilst providing superior returns and value to our stakeholders. Human resource being an importance resource for CIMB, CIMB has been following some of the industry’s best noteworthy HR...
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...KEY LEARNING - SUMMARY Reflect on, and identify below, what you have learnt since your last submitted development plan (if this is the first development plan you have submitted for the programme, then ignore this box on this occasion). Your learning might encompass both what you have taken from your study on the programme as well as wider learning from work-related activities. Your reflection could reflect all or some of these suggestions: What I have learnt and understand better; What I knew already that has been reinforced; What I need to reflect on further or think more about; What I can do now or do better; What I'm going to do differently in future back at the workplace. We recommend that you maintain a full Development Record (Learning Log) (available on the VLE) for CPD purposes as you go through the programme (this does not have to be submitted with your assessments). The box below simply asks you to reflect on your key learning drawn from that and how it links (i.e. new development needs that you have identified as a result of your learning) subsequently to your updated Development Plan below that you are submitting with your unit assessment. Development Plan | NAME: | ZARINA ZHUSSUPOVA | MEMBERSHIP NUMBER: | 42818953 | COVERING THE PERIOD FROM: | JANUARY | TO: | JUNE | Planned outcome What do I want/need to learn? | What will I do to achieve this? | What resources or support will I need? | What will my success criteria be? | Target dates for review...
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...Assignment #1 Problems and Best Practices in Retention Question 1 What three problems might an organization have with the issue of employee retention? Explain why they could be a problem. There are many reasons an organization may have with the issue of employee retention such as; money, mergers, health benefits, family reasons, etc. The three problems I believe are money, health benefits and work overload caused by a merger. Higher salary is the number one reason why employee looks for change. When employee feels they are not being paid adequately and the differential in pay between new and longer term employees, they are more likely to leave. For instance, an organization average annual pay increase is approx. 4% however employees perceive that the newcomers are paid better. The second problem might an organization have with the issue of employee retention is the benefit programs. Employees feel that they pay too much for health insurance, especially prescription drug programs. An Organization offers their employees the opportunity to choose a benefit package that is best for their family. The employee has an option to choose from high premium low out-of-pocket cost or low premium high out-of pocket cost benefit package. Whichever one an employee decides to choose, their health insurance still cost too much. The third problem would be work overload caused by a merger. Departments being understaffed and the employees feel as if their workloads are too heavy...
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...that led to the study, a description of the Best Practices, LLC research methodology, a summary of the key project findings and recommendations for identifying and closing performance gaps. 2) Topical Chapters – These chapters provide, by subject, a graphical depiction of survey responses, discussion of key trends identified from an analysis of the data and write-ups of best practices harvested from in-depth interviews: Program Management & Organization –Includes sections on Budget, Staffing, Structure, Activities & Events, Hiring Top Talent (including interns and co-ops) and Program Effectiveness. Hiring Top Talent – Discusses best practices for building the talent pool, screening and selecting candidates and managing intern and co-op programs Building Strong Stakeholder Relationships – Covers effective partnership with line staff, practices for sharing candidates across lines of business, developing alumni as recruiting talent, training line recruiters and maintaining long-term relationships with university hires. School Selection & Ranking - Illustrates best practices for choosing core recruiting schools. Technology: Impact & Innovation - Highlights innovative uses of technology in the recruiting process. 3) Appendix – The appendix includes a matrix comparing the features, functionality and feel of university recruiting websites for 19 top companies and a matrix capturing top three best practices and lessons learned shared by survey respondents...
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...Best Practices in a Diverse Work Environment Melody Nelson HRM 531 October 18, 2010 Caroline Willett | InterClean, Inc. | Memo To: First level managers From: Melody Nelson CC: Date: October 18, 2010 Re: InterClean, Inc and EnviroTech Merger Transition Merger Transition The merger between InterClean an EnviroTech is in its final stages. As in any situation involving change, there will be some uncertainties and insecurities among the staff and it is the responsibility of all management personnel at all levels to effectively deal with these issues. However, setting a good foundation and following through with good communication, uncertainties and insecurities will be kept at a minimum. Following are a few ways you can make a significant contribution toward that goal. Enthusiasm is contagious! This is a golden opportunity not only for the future of InterClean but also for anybody at InterClean. As we begin merging the operations of both companies, there very well could be some downsizing in certain areas. However, there will also be new opportunities to learn, grow, and move into positions of greater responsibility. Commitment is contagious! “The importance of talking the talk and walking the walk is fundamental to achieving commitment” (Schifalacqua, Costello, & Denman, 2009). Frequent communications updating the status of the merging of operations should be relayed to all team members in a timely fashion in order to keep the excitement flowing...
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...OD & HRM COURSE REQUIREMENTS (Midterm Grading Period 1st Trimester AY 2015-2016) A. Best Practice Cases One-Page Summaries Three “best practice” cases have been assigned for oral presentation. These cases provide actual examples of successful OD change efforts. For each case, you will be required to turn in a one-page, typed summary of your responses to the following questions: What practices in the case would be helpful to apply in your organization? How might you modify the practices in the case to better suit your organization? What did you learn overall from the case? [Note: If you are not currently working, you may either refer to a former organization you worked for, or the “ideal” organization you would like to work for.] B. Team Case Diagnostic Scan Presentation Students will work on a team to complete a diagnostic scan of a problem or issue of concern in a case. Student teams will work together to analyze the case, and prepare a presentation that includes the following elements: Describe the preliminary problems or issues of concern your team identified in the case. [Note – Consider “what is” and “what should be.” Gaps between those two indicate a potential problem or issue of concern.] Specify the preliminary root causes for each identified problem or issue of concern. Describe your team’s assessment and feedback plan to confirm your diagnosis. Your plan should include a description of the diagnostic model and methods...
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...minutes to answer each question, 1 or max 1.5 pages for each question) 1. What do we mean by the terms ‘Best fit’ and ‘Best practice’ to describe SHRM (Strategic Human Resource Management). Which is better? Use any short case examples to illustrate your discussion? Answer: By Definition ‘SHRMis that approach of HRM that refers that how all the aims and the objectives of the organization can be achieved through the people of the organization itself. It is a very critical approach of HRM. These objectives are realized by the employees of the organization, where each employee is given some objectives to achieve. Through this the employee also showcases his performance and thus grows.’ Two approaches of SHRM are: 1) Best Fit 2) Best Practice Discussing both here below, Best Fit Approach: takes into consideration all the circumstances that the organization is facing and hence create a best fit of strategies to best solve the problems. These circumstances that the approach takes into account could be internal as well as external to the organization. The people working in the organization become the center to the approach and it is these people that help is sort out the circumstances. The strategies thus developed under this approach focuses on the needs of the organization and the people. This approach is said to be important and one of the best practices because it keeps into consideration the hard as well as the softer aspects that make up any organization...
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...Organizations often implement a best practice or a best fit approach to strategic human resource management. A best practice approach would suggest that a set of universal practices could be applied to various different organizations in various different trades. On the other hand, a best fit approach to strategic human resource management would suggest that different practises would need to be put into play depending on different variables such as company culture, processes and external environmental factors. A best practice approach could be beneficial to an organizations attempt of strategic HRM as it would help the organization to make a profit and to obtain their long-term goals. In order to ensure that they are using a best practice approach, the organization would need to make strategic changes to the recruitment and selection process, rewards, training and to ensure that employees remain motivated and committed. A best practice approach could also be beneficial to strategic human resource management as best practice activities often strive to improve overall performance of an organization by selecting key best practices that may better the company such as training, appraisal and reward systems. A best practice approach may also be beneficial to an organization in terms of finding a solution, as the best practice approach is more universal, the solutions are proven to have been successful with other companies. The best fit approach to strategic HRM would entail ensuring...
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...planning stage and the installation stage. These stage or phase of a project are very important because of the affect that the change may have on the business network, server environment, production, or employee work. In the planning stage, the analyst spec out all aspects of the implementation. From the hardware upgrade or implementation to the Operating system that new software will be house on, and the type of software that is being used. The accounting software they we are implementing is NetSuit. I had picked the application because of the ERP (Enterprise recourse planning) that it has within the application. It would handle my accounting uses for all departments, like Accounting, Manufacturing, Distribution, Sales, Marketing, Retails, HR, Information System, and more, but it also give me the ability to use it from a Intranet or online stand point. NetSuit has the proper patches needed to be inserted into an ERP network, where the software will be house on a Unix platform and all data is stored in a centralize database. This allows all departments’ access to the data as it is needed. NetSuit is upgradable; if any new features come out in the near future, it can be applied to the software and push out to the client base application that is used on users workstations. NetSuit dose real-time delivering by updating the database on the fly and pushing that information out to the user, suppliers,...
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...South Wales Advanced Management Accounting AF3S127 Benchmarking In today’s Business Environment With initial applications appearing in the 1980’s, benchmarking is now a powerful global mechanism used is business everywhere for process improvements and re-engineering of companies (Beretta, Dossi and Grove, 1998). My aim for this essay is to explain the concept of benchmarking using a range of sources. I will also critically analyze how and why organizations use benchmarking as a weapon to persist in today’s competitive business environment to see if it really is that effective. Benchmarking is the continuous analysis of processes, functions, strategies, performances and many other aspects of a business compared with or between the “best-in-class” organizations by gathering information by using appropriate methods of collection, with the intention of evaluating an organizations current standards and then carrying out self-improvement by applying changes to match or exceed the standards (Anand and Kodali, 2008). Benchmarking is a technique used for continuous improvement of something within a business. It is a way of measuring a firm’s product; services or activities against top other organizations either internal or external to the firm (Drury, 2012). This could be close competition for example; customer service on telephone calls from mobile network providers such as EE and Vodafone, to non-competitive firms using the same example customer service on telephone calls with...
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... Supplemental Resources Andersen, S. (2012). The keys to effective strategic account planning. Velocity, 14(1), 23-26. Burkhauser, R. V., Schmeiser, M. D., & Weathers II, R. R. (2012). The importance of anti-discrimination and workers’ compensation laws on the provision of workplace accommodations following the onset of a disability. Industrial & Labor Relations Review, 65(1), 161-180. Employee compensation: 12 trends for 2012. (2012). HR Specialist, 10(2), 1-2. Survey of the Month: Companies Focus On Updating Compensation in 2012. (2011). Report on Salary Surveys, 18(12), 1-5. The Society of Human Resources Management (2012). General format. Retrieved from http://www.shrm.org WorldatWork. (n.d.). General format. Retrieved from http://www.worldatwork.org COURSE LEARNING OUTCOMES 1. Analyze how compensation practice can be applied to positively impact an organization and its stakeholders. 2. Examine the ways in which laws, labor unions, and market factors impact companies’ compensation practices. 3. Evaluate the effectiveness of traditional bases for pay (seniority and merit) against incentive-based and person-focused compensation approaches. 4. Compare and contrast internally consistent and market-competitive compensation systems. 5. Analyze the fundamental principles of pay structure design. 6. Evaluate the role of benefits in strategic...
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