...important elements of any organization. It is what compensates, drives, motivates, and rewards employees for the work they do. Or it does the opposite of these things. What is a strategic compensation strategy? Simply stated, it is the compensation of employees in ways that enhance motivation and growth, while at the same time aligning their efforts with the objectives, philosophies, and culture of the organization (Bohlander &Snell, 2010. Compensation includes all forms of pay and rewards received by employees for the performance of their job. Employees desire compensation systems that they perceive as being fair and commensurate with their skills and expectations. An effective compensation and benefit system will contribute to organizational effectiveness. Holland Enterprises is one of the city’s largest employers. Your firm currently employs 3,500 employees. However, since 2007 the firm has lost 25% of its staff. From the research that has been presented, it is because your firm lacks an effective compensation and benefit system. In order for Holland to remain an effective organization, your compensation and benefit system needs a long overdue makeover. The current compensation system is being perceived as unfair and uncompetitive in the marketplace. An effective compensation and benefit system will contribute to the effectiveness of your organization. To survive and be successful in a global economy, an organization must be competitive (Henderson, 2006). In order...
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...Introduction The main purpose of this essay is to illustrate the importance of the idea of competency as well as seeks to outline its application to staff undertaking international assignments. Lucia & Lepsinger (1999) define competency as “a cluster of related knowledge, skills, and attitudes that affects a major part of one’s job (a role or responsibility), that correlates with performance on the job, that can be measured against well-accepted standards, and that can be improved via training and development.” People or the organization should possess the core competencies to excel in work’s performance and hence be improved in the future to achieve effectiveness in work and organization’s goal (Ibid). Why have the idea of competency become so important? Organizations today identified the key to business success through strategic human resource management (SHRM) (Compton 2009). To achieve SHRM, the strategic plans have to be pro-active and be open to changes in the organization’s external environment such as its competitors and globalization (Ibid). Having a deeper understanding about competencies is critical, as it will allow the organization to focus on achieving organizational goals and responding to the external environment (Lucia & Lepsinger 1999). The Harvard Analytical framework for HRM Figure 1. (Source: Beer et al. 1985) The Harvard analytical framework for HRM in Figure 1 above consists of five main components, which...
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...line manager as well as the human resource specialist. Attention will be devoted to the various contexts of human resource management, basic techniques and methods, and the changing nature of managing human resources. More specifically, our concerns will include human resource and employment planning, employee recruitment and selection, training and development, performance planning and evaluation, compensation administration, organizational career management, structure of the human resource function, and the strategic role of human resource management. Objectives of the Course: During the course, the student will hopefully progress toward attainment of the following objectives: 1. Become familiar with the human resource management process (or HR value chain) and its key elements: a. Organization and human resource goals and strategies b. Human resource planning and analysis c. Employee staffing – recruitment and selection d. Organizational career management – training, performance management and evaluation, and rewards/compensation e. Employee retention and turnover – psychological contract 2. Understand that human resources are an asset (investment) to be developed rather than a labor cost to be expensed...
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...A PROJECT REPORT ON MANPOWER PLANNING OF EMPLOYEES AT HMT LTD, TRACTOR BUSINESS GROUP, PINJORE IN PARTIAL FULFILMENT OF THE REQUIREMENT FOR THE AWARD OF DEGREE OF MASTER OF BUSINESS ADMINISTRATION (MBA) 2009-2011 SUPERVISED BY: SUBMITTED BY: Mr. Kanwal Verma Khushbu Dayal Manager Personnel HMT Ltd, Pinjore ICL Institute of Engineering and Technology, Sountli ACKNOWLEDGEMENT I am indebted to HMT Ltd, Tractor Business Group, Pinjore for providing me an opportunity to undertake summer training with them and able to work on this project. It is a matter of great privilege for me to acknowledge my sincere gratitude and ineptness to my modest, gracious, eminent supervisor Mr. Kanwal Verma, Manager Personnel for his keen interest, valuable guidance, constant encouragement, enthusiastic involvement, constructive criticism and appreciation during the work, which hopefully I have inherited, has left an indelible impression in my mind and soul. With profound regards, I express my heartfelt gratitude and most sincere thanks to Mr.Kanwal Verma, Manager Personnel, Mr.Rajender Kumar HR Manager, Mr. V.K. Grover AGM(TC) and all the employees of Personnel Department...
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...Student's Name: Xianwei Meng Date: 26/8/2011 Module title: Enterprise Resource Planning Words: 5023 Information Systems Study For Bandon Group Inc. 1. Introductions Bandon Group is a family owned distributor of office equipment. It is famous for its good customer service, technical support, and innovative products, and excellent in providing products with quality and services at cost-effective price. The Group now has four divisions, and they decentralize to meet the different needs of their local markets. Corporate headquarters handles the central administrations and information systems support. The primary objective of Bandon Group is to generate 10% profit for the reinvestment. They hope to establish excellent sales organization and professional service organization. To achieve these goals, Bandon Group has taken many measures. As to the information systems, they have administrative information systems, most of which are generic, and in which the meter click billing software unique for industries. However, the legacy system can not satisfy its growth and expansion now. Their director of information technology has searched for commercial off-the shelf package to support the administrative information system, and selected OMD. The OMD system supports meter-based billing, and has Web-based interface. However, it is not built with relational database, which makes the ad hoc difficult. Sales tools of Bandon Group such as sales prospecting still...
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...initiatives. It is one of the leading aspects with a very bright potential to boost-up the economy of this third-world poor country. Prepared by: Md. Abdul Hai – 07882860 Essence of Privatization Despite a significant degree of public ownership in health, education, communication, utilities and energy sectors in the pre-independence period, Bangladesh inherited basically a private sector dominated economy at the time of independence in 1971. A set of three inter-related reasons are put forward as rationale for privatization in Bangladesh. These are: • Improvement of the governments’ fiscal situation; • Improvement in enterprise efficiency following privatization; and • Mobilization of greater domestic as well as foreign investments for higher growth in the medium-term. Privatization is the incidence or process of transferring ownership of a business enterprise, agency or public service from the public sector (the state or government) to the private sector (businesses...
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...Once you add social goals to the demands of serving customers, making a profit, and returning value to shareholders, you tie yourself up in knots.” Ben & Jerry’s financial performance has had its ups and downs. While the company’s stock grew by leaps and bounds through the early 1990s, problems began to arise in 1993. These problems included increased competition in the premium ice cream market, along with a leveling off of sales in that market, plus their own inefficiencies and sloppy, haphazard product development strategy. The company lost money for the first time in 1994, and as a result, Ben Cohen stepped down as CEO. Bob Holland, a former consultant for McKinsey & Co. with a reputation as a turnaround specialist, was tapped as Cohen’s replacement. The company’s stock price rebounded in 1995, as the market responded positively to the steps made by Holland to right the company. The stock price, however, floundered toward the end of 1996, following Holland’s resignation. Over the last few years, Ben & Jerry’s has had a new resurgence. Holland’s replacement, Perry Odak, has done a number of things to improve the company’s financial performance, and its reputation among Wall Street’s differently. Its profits had been declining, but in 1995 the company was offered an opportunity to sell its premium ice cream in the lucrative Japanese market. However, Ben & Jerry’s turned down the business because the Japanese firm that would...
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...ARTICLE IN PRESS Int. J. Production Economics 87 (2004) 251–266 Enterprise information systems project implementation: A case study of ERP in Rolls-Royce Yahaya Yusufa,*, A. Gunasekaranb, Mark S. Abthorpec a Business School, University of Hull, Hull HU6 7RX, UK Department of Management, University of Massachusetts, 285 Old Westport Road, North Dartmouth, MA 02747-2300, USA c Department of Mechanical and Manufacturing Engineering, Nottingham Trent University, Burton Street, Nottingham NG1 4BU, UK b Abstract Economic globalisation and internationalisation of operations are essential factors in integration of suppliers, partners and customers within and across national borders, the objective being to achieve integrated supply chains. In this effort, implementation of information technologies and systems such as enterprise resource planning (ERP) facilitate the desired level of integration. There are cases of successful and unsuccessful implementations. The principal reason for failure is often associated with poor management of the implementation process. This paper examines key dimensions of implementation of ERP system within a large manufacturing organisation and identifies core issues to confront in successful implementation of enterprise information system. A brief overview of the application of ERP system is also presented and in particular, ERP software package known as SAP R/3, which was the ERP software package selected by Rolls-Royce plc. The paper takes an in-depth...
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...ARTICLE IN PRESS Int. J. Production Economics 87 (2004) 251–266 Enterprise information systems project implementation: A case study of ERP in Rolls-Royce Yahaya Yusufa,*, A. Gunasekaranb, Mark S. Abthorpec a Business School, University of Hull, Hull HU6 7RX, UK Department of Management, University of Massachusetts, 285 Old Westport Road, North Dartmouth, MA 02747-2300, USA c Department of Mechanical and Manufacturing Engineering, Nottingham Trent University, Burton Street, Nottingham NG1 4BU, UK b Abstract Economic globalisation and internationalisation of operations are essential factors in integration of suppliers, partners and customers within and across national borders, the objective being to achieve integrated supply chains. In this effort, implementation of information technologies and systems such as enterprise resource planning (ERP) facilitate the desired level of integration. There are cases of successful and unsuccessful implementations. The principal reason for failure is often associated with poor management of the implementation process. This paper examines key dimensions of implementation of ERP system within a large manufacturing organisation and identifies core issues to confront in successful implementation of enterprise information system. A brief overview of the application of ERP system is also presented and in particular, ERP software package known as SAP R/3, which was the ERP software package selected by Rolls-Royce plc. The paper takes an in-depth...
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...integrated supply chains. In this effort, implementation of information technologies and systems such as enterprise resource planning (ERP) facilitate the desired level of integration. There are cases of successful and unsuccessful implementations. The principal reason for failure is often associated with poor management of the implementation process. This paper examines key dimensions of implementation of ERP system within a large manufacturing organisation and identifies core issues to confront in successful implementation of enterprise information system. A brief overview of the application of ERP system is also presented and in particular, ERP software package known as SAP R/3, which was the ERP software package selected by Rolls-Royce plc. The paper takes an in-depth look at the issues behind the process of ERP implementation via acasestudy methodology. It focuses on business and technical as well as cultural issues at the heart of the Rolls-Royce implementation. The casestudy also looks at the implementation time scales and assesses the benefits from the project both tangible and intangible. Keywords * ERP; * Information systems; * Implementation; * Success factors; * Rolls-Royce Enterprise information systems project implementation: A case ... — Document Transcript * 1. ARTICLE IN PRESS Int. J. Production Economics 87 (2004) 251–266 Enterprise information systems project implementation: A case study of ERP in Rolls-Royce Yahaya Yusufa,*, A. Gunasekaranb...
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...UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ፤ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the fiscal year ended September 30, 2014. អ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 for the transition period from to . or Commission file number 333-172973 1MAY200918354900 NBTY, Inc. (Exact name of registrant as specified in its charter) DELAWARE (State or other jurisdiction of incorporation or organization) 11-2228617 (I.R.S. Employer Identification No.) 2100 Smithtown Avenue Ronkonkoma, New York (Address of principal executive offices) 11779 (Zip Code) (631) 567-9500 (Registrant’s telephone number, including area code) Securities registered pursuant to Section 12(b) of the Act: None Securities registered pursuant to Section 12(g) of the Act: None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes អ No ፤ Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15(d) of the Exchange Act. Yes ፤ No អ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2)...
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...CORPORATE GOVERNANCE: A SURVEY OF THE LITERATURE November, 2003 Jorge Farinha* Keywords: agency theory, corporate governance, ownership structure JEL Classification: G300 *CETE-Centro de Estudos de Economia Industrial, do Trabalho e da Empresa, Faculdade de Economia, Universidade do Porto, Portugal. Correspondence to: Jorge Farinha, Faculdade de Economia da Universidade do Porto, Rua Roberto Frias, 4200 Porto, Portugal. Tel. (351)-22-5571100, Fax (351)-22-5505050. E-mail: jfarinha@fep.up.pt. CORPORATE GOVERNANCE: A SURVEY OF THE LITERATURE ABSTRACT This paper reviews the theoretical and empirical literature on the nature and consequences of the corporate governance problem, providing some guidance on the major points of consensus and dissent among researchers on this issue. Also analysed is the effectiveness of a set of external and internal disciplining mechanisms in providing a solution for the corporate governance problem. Apart from this, particular emphases are given to the special conflicts arising from the relationship between managers and shareholders in companies with large ownership diffusion, the issue of managerial entrenchment and the link between firm value and corporate governance. Keywords: agency theory, corporate governance, ownership structure JEL Classification: G300 1 1 Introduction Recent financial scandals associated to accounting and other frauds allegedly blamed to top company managers (e.g. Enron, Worldcom, Adelphia) have...
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...The Crucial Roles of Professional Accountants in Business in Mid-Sized Enterprises Professional Accountants in Business Committee International Federation of Accountants 545 Fifth Avenue, 14th Floor New York, New York 10017 USA The mission of the International Federation of Accountants (IFAC) is to serve the public interest, strengthen the worldwide accountancy profession and contribute to the development of strong international economies by establishing and promoting adherence to high-quality professional standards, furthering the international convergence of such standards and speaking out on public interest issues where the profession’s expertise is most relevant. This publication was prepared by IFAC’s Professional Accountants in Business (PAIB) Committee. The PAIB Committee serves IFAC member bodies and the more than one million professional accountants worldwide who work in commerce, industry, the public sector, education, and the not-for-profit sector. Its aim is to enhance the role of professional accountants in business by encouraging and facilitating the global development and exchange of knowledge and best practices. This publication may be downloaded free-of-charge from the IFAC Web site at http://www.ifac.org. The approved text is published in the English language. Copyright © September 2008 by the International Federation of Accountants (IFAC). All rights reserved. Permission is granted to make copies of this work provided that such copies are for use in...
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...Antonin and Sister Anna. Although This Business Was New, The Bata Name Had Been Part of a Tradition of Shoemaking for Eight Generations, Spanning Three Hundred Years. It Was One of the First Modern Day Shoe ‘manufacturers’ , A Team of Snitchers and Shoemakers Creating Footwear Not Just for the Local Town , But Also for the Distant Retail Merchants. This Departure From the Centuries Old Tradition of the One Man Cobbler’s Workshop Was a Brand New Concept, Creating an Entirely New Industry. The Bata Enterprise Revolutionized the Treatment of Employees and Labor Conditions. Tomas Consistently Maintained a Human Focus, Creating Opportunities for Development and Advancement, And Added Compensation for Employees Based On Achievement. In Late 1985. Antonin Was Drafted Into the Army for Compulsory Military Service and Lift Family Shoe Business. Also That Year, Anna Left the Company to Marry, Leaving a Young Tomas to Build the Business On His Own. By 1905 Tomas Had Taken the New Enterprise to 2200 Pairs of Shoes Per Day , Produced by 250 Employees – Utilizing Resourceful Imaginations , Skilled Hands and Modern Machinery to Keep Up with Demand. Under This ‘manufacturing’ System, Productivity Was Greater...
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...Journal of Economic Perspectives—Volume 17, Number 3—Summer 2003—Pages 71–92 Executive Compensation as an Agency Problem Lucian Arye Bebchuk and Jesse M. Fried E xecutive compensation has long attracted a great deal of attention from financial economists. Indeed, the increase in academic papers on the subject of CEO compensation during the 1990s seems to have outpaced even the remarkable increase in CEO pay itself during this period (Murphy, 1999). Much research has focused on how executive compensation schemes can help alleviate the agency problem in publicly traded companies. To understand adequately the landscape of executive compensation, however, one must recognize that the design of compensation arrangements is also partly a product of this same agency problem. Alternative Approaches to Executive Compensation Our focus in this paper is on publicly traded companies without a controlling shareholder. When ownership and management are separated in this way, managers might have substantial power. This recognition goes back, of course, to Berle and Means (1932, p. 139) who observed that top corporate executives, “while in office, have almost complete discretion in management.” Since Jensen and Meckling (1976), the problem of managerial power and discretion has been analyzed in modern finance as an “agency problem.” Managers may use their discretion to benefit themselves personally in a variety y Lucian Arye Bebchuk is the William J. Friedman Professor...
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