...Chapter 1- The Pay Model Compensation: Does it matter? Compensation is one of the most powerful tools organizations have to influence their employees. General Motors (GM), like Chrysler, has, for decades, paid its workers well—too well perhaps for what it received in return. Having labor costs higher than the competition, without corresponding advantages in efficiency, quality, and customer service, does not seem to have served GM or its stakeholders well. On the other hand, Nucor Steel pays its workers very well relative to what other companies inside and outside of the steel industry pay. But Nucor also has much higher productivity than is typical in the steel industry. Wall Street financial services firms and banks used incentive plans that rewarded people for developing “innovative” new financial investment vehicles and for taking risks to earn themselves and their firms a lot of money. Troubled Asset Relief Program (TARP), which included restrictions on executive pay designed to discourage executives from taking “unnecessary and exces-sive risks.” In an opinion piece in The Wall Street Journal, entitled “How Business Schools Have Failed Business,” the former director of corporate finance policy at the United States Treasury wrote that “misaligned incentive programs are at the core of what brought our financial system to its knees.” 7 He says that we “should ask how many of the business schools attended by America’s CEOs and directors educate their students about the...
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...Corporate Performance 12公司理财 张晨月 2012312482 12公司理财 杨怡 2012312487 Abstract The purpose of this paper is to test the effect of independent directors’ background on company’s performance. Our study found that the education background of the independent directors of has no positive influence on the company's performance. And our study also found that government background of independent directors have a negative impact on company's performance. Studies also support the restriction of individuals that are act as several independent directors. Research of this paper enrich the corporate governance literature and provides a new point of view of the correct understanding of the influence of independent directors on company performance. Besides, it provides important empirical evidence for the further reform of corporate governance in our country . Keywords: background of independent directors The board of directors company's business performance ,corporate governance PART I. Introduction The introduction of independent director to the board of directors of the company hopes to improve the level of corporate governance and protect of rights and interests of small shareholders. More importantly, they also hope that the independent directors can promote the management decision of company management level from the perspective of experts, so as to improve the business performance of enterprises. As a result, whether the independent directors can improve company performance...
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...Benchmark Jobs Administrative Group Finance Group Human Resources Group Marketing Group Executive Assistant VP Finance Director Human Resources Director Product Management Office Supervisor Controller Manager Human Resources Sr Product Manager Administrative Coordinator Accounting Supervisor Human Resources Specialist Product Manager Receptionist Accountant Human Resources Assistant Product Specialist Compensable Factors for the Human Resources Job Family 1. Knowledge – the sum total of what a person must have the capability to do to be effective a. Depth of Knowledge b. Breadth of Knowledge 2. Work Complexity – ability to identify and resolve problems and the level of instruction needed to do so a. Problem Identification b. Problem Resolution c. Guidance 3. Autonomy – level of independence within role and responsibilities a. Supervision Received b. Judgment c. Work Review Required 4. Leadership – responsibility for a direct team or population a. Team Leadership b. Employee Leadership 5. Impact – level of criticality and visibility associated to employees role a. Impact of Decisions b. Scope of Impact 6. Interaction – employees reach within the organization a. Level of Interaction b. Nature of Interaction 7. Experience – technical skills, certifications, prior experience a. Experience Scale of Factors Degree 1 Degree 2 Degree 3 Degree 4 Degree 5 Depth of Knowledge Basic level of knowledge within area of specialty, is required. Limited use...
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...1. How serious were Stephen Richards’ actions? Why? Stephen Richards’s actions were extremely serious; manipulating Computer Associates’ quarter end cutoff to align CA’s reported financial results with market expectations by violating the generally accepted accounting principles and their financial reporting responsibilities. According to the U.S. Securities and Exchange Commission, Richards with other CA executives extended CA’s fiscal quarter, “ instructed and allowed subordinates to negotiate and obtain contracts after quarter end while knowing, or recklessly disregarding the fact that, CA would improperly recognize the revenue from those contracts, and failed to alert CA’s Finance or Sales Accounting Department that CA salespersons that reported to Richards were obtaining contracts with backdated signatures dates after quarter end.” (Release) Richard in his letter writes that his self and the CEO exerted significant pressures on their team to meet the goals that they had set for themselves, also Richard mentions that performance was measured by internal goals in accordance with the expectation set by outside parties, analyst community, specifically to meet Wall Street quarterly per-share earnings estimates, “a key to keeping a company’s stock price rising.” (Wharton) Richards with the CEO allegedly met routinely and conferred with each other and with Zar (CFO) during the week following the end of fiscal periods, including during the “flash period”, the three business days...
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...business. It explores the close link between strategic management and HRM by assessing the extend to which there is a vertical integration between an organisation business strategy and its HRM policies and practices. 'Best practice' school claims that certain 'best' human resource practices would result in enhanced organisational performance, manifested in improved employee attitude, lower level of absenteeism and turnover, higher level of skills for higher productivity, enhanced quality and efficiency. That is why the 'best practice' model is also referred as high commitment models. These two concepts are generally described within the literature but it is sometimes difficult to stretch the specifications of each approach. This essay will attempt to fill that gap. Section two compares these concepts according to human resource studies. It will highlight areas of agreement between each approach. Section three therefore stretches the differences between 'best fit' and 'best practice' approaches. We now try to discuss in section four the approach taken in this debate by the CIPD. Concluding elements are found in section five. The terms 'best fit' and 'best practice' are used in strategic human resource management literature. The 'best fit' approach to strategic human resource management (HRM) explores the close relationship between strategic management and HRM by considering the influence and nature of vertical integration. Vertical integration, where leverage is gained through...
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...representation in foreign countries. Others, particularly Fortune 500 corporations, have extensive facilities, and personnel in various countries of the world. Managing these resources effectively, and integrating their activities to achieve global advantage, is a challenge to the leadership of these companies. We are quickly moving toward a global economy. While estimates vary widely, approximately 70 to 85 percent of the U.S. economy today is affected by international competition. Recent popular books have suggested that many U.S. companies need to reassess their approach to doing business overseas, particularly in the area of managing human resources. To a large degree, the challenge of managing across borders boils down to the philosophies and systems we use for managing people. In this chapter we will observe that much of what is discussed throughout this text can be applied to foreign operations, provided one is sensitive to the requirements of a particular international setting. The first part of this chapter presents a brief introduction to international business firms. In many important respects, the way a company organizes its international operations influences the type of managerial and human resources issues it faces. In additioft1 we briefly describe some of the environmental factors that also affect the work of managers in a global setting. Just as with domestic operations, the dimensions of the environment form a context in which HRM decisions are made. A...
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...External Competitiveness: Determining the Pay Level 7. Defining Competitiveness © The McGraw−Hill Companies, 2004 Chapter Seven Defining Competitiveness Chapter Outline Compensation Strategy: External Competitiveness Control Costs Attract and Retain Employees What Shapes External Competitiveness? Labor Market Factors How Labor Markets Work Labor Demand Marginal Product Marginal Revenue Labor Supply Modifications to the Demand Side Compensating Differentials Efficiency Wage Signaling Modifications to the Supply Side Reservation Wage Human Capital Product Market Factors and Ability to Pay A Dose of Reality: What Managers Say More Reality: Splintering Supply of Labor Organization Factors Industry Employer Size People’s Preferences Organization Strategy Relevant Markets Defining the Relevant Market Competitive Pay Policy Alternatives Pay with Competition (Match) Lead Policy Lag Policy Flexible Policies Pitfalls of Pies Consequences of Pay-Level and Mix Decisions Efficiency Fairness Compliance Your Turn: Sled Dog Software Your Turn: Managing a Low-Wage, Low-Skill Work Force January is always a good month for travel agents in Ithaca, New York. In addition to the permanent population eager to flee Ithaca’s leaden skies (our computer has a screen saver whose color is titled “Ithaca”; it consists of 256 shades of gray), graduating students from Ithaca’s two colleges are traveling to job interviews with employers across the country— at company expense, full fare, no Saturday-night stayovers...
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...Milkovich−Newman: Compensation, Eighth Edition Front Matter 1. The Pay Model © The McGraw−Hill Companies, 2004 Chapter One The Pay Model Chapter Outline Compensation: Definition, Please? Society Stockholders Managers Employees Global Views—Vive la différence Forms of Pay Cash Compensation: Base Cash Compensation: Merit Pay/ Cost-of-Living Adjustments Cash Compensation: Incentives Long-Term Incentives Benefits: Income Protection Benefits: Work/Life Focus Benefits: Allowances Total Earnings Opportunities: Present Value of a Stream of Earnings Relational Returns from Work The Employment Relationship Combines Transactional and Relational Returns Variations in Transactional and Relational Expectations A Pay Model Compensation Objectives Four Policies Pay Techniques Book Plan Caveat Emptor—Be an Informed Consumer 1. Does the Research Measure Anything Useful? 2. Does the Study Separate Correlation from Causation? 3. Are There Alternative Explanations? Your Turn: Glamorous Internships? or House Elves? A friend of ours writes that she is in one of the touring companies of the musical Cats. In the company are two performers called “swings” who sit backstage during each performance. Each swing must learn five different lead roles in the show. During the performance, the swing sits next to a rack with five different costumes and makeup for each of the five roles. Our friend, who has a lead in the show, once hurt her shoulder during a dance number. She signaled to someone...
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...channel wants into effective cooperation B. Relations with People • Two basic lessons – Men are complex and men are different • Enable superiors to know subordinates as human beings • Must be in a position to satisfy them • Understand implications of his own actions • Consistent and clear decisions C. Pitfalls of Perception • Worst difficulties come from misperceiving reality • Successful leader is prepared for such misperceptions • Psychological difficulty of being a subordinate • Understanding leader doesn’t consider them inferior, but maintains a psychological distance • Eliminate phony democracy D. Goals in Development • Balance risks and returns • Executive must watch long term growth of his men • Long run growth vital part of continuing leadership • Development limited only by contributions E. Dealing with Tact • No genuine growth without some teaching • Superior must take cognizance of subordinate’s successes and failures • Adequate communication very important • Leader must know how to use followers traits and skills F. Secrets of Symphony Orchestra Conductor • Men must have requisite skills and training • Psychological setting for...
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...2014 Divisional strategy analysis and evaluation report: Pick n Pay Stores Limited BCom Honours (Strategic Management) Strategic Management (STM8X09 Group Assiggnment Students (Authors): Name & Surname 1. Molefi Nyofane 2. Wayne Fisher 3. Wilson Nkunjana 4. Kamohelo Makhetha 5. Bulelani Mini Student numbers 200618193 201002263 201001767 201238497 201005015 About the report: This report analyses and evaluates the Pick n Pay (PnP) Stores Limited strategy with reference to the company’s division which covers Gauteng, Free State and Northern Cape Province retail stores. However, we used Gauteng stores for the analysis of PnP’s strategies. This report critically evaluates the PnP vision, mission and values within context of their internal and external environment. A proper strategy of a company should have achievable, realistic, and measurable strategic objectives. Therefore, PnP strategic objectives are analyzed based on these factors. The strategy sustainable growth with reference to the social, ethical and environmental duties that PnP should consider in their strategic formation will be also be evaluated. Lastly the report critically evaluates the implementation of the strategy of PnP Stores Limited with reference to the division mentioned The region contributes 60% percent of the company turnover and there are about 170 stores in total across these three provinces. 5/12/2014 Strategic Analysis Report Indemnity Declaration: We, The Strategic Management BCom...
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...AN INVESTIGATION ON THE INFLUENCE OF FINANCIAL COMPENSATION ON EMPLOYEES’ PERFORMANCE IN RETAIL OUTLETS. A survey of selected supermarkets in Meru Town By BUS-1-0622-2/2010 A Research project Submitted in Partial Fulfillment for the Requirement of a Degree in Business Administration of Kenya Methodist University. AUGUST, 2012 DECLARATION I hereby declare that this is my original work and has not been presented for any examination purposes in any university or institution for the award of a degree, diploma or certificate. SIGN…………….. NAME: MARY NGUGI DATE……………………………….. This research project has been submitted with the approval of the University Supervisor; SIGN……………… SUPERVISOR: MS. ROSELYN KINYAMU DATE……………………………. DEDICATION I wish to dedicate this to my parents Mr. and Mrs. Muriuki, my siblings George and Christine and to my friends for the great support they have given from the beginning and to the supervisor who was supportive and very encouraging. May God bless them. ACKNOWLEDGEMENT Special Thanks to the Almighty God for giving me wisdom, endless favors and the ability to do this proposal successfully. I would like to recognize the contribution of my supervisor, Ms Roselyn Kinyamu, for her time...
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...Name: Chantal Ghanimeh Course: Organizational Behavior Instructor name: Mr. Ali Hamdoun Project: Emotional intelligence I. What is emotional intelligence: Emotional intelligence also known as (EQ) is completely internal – it is a person’s ability to understand his own emotions and recognize the emotions of others. Therefore, EQ can be thought of as preceding Behavioral Intelligence. It might be helpful to practice EQ, but it is difficult to observe. II. Leadership Effectiveness and Emotional Intelligence: People have theorized that EI contributes to people’s capacity to work effectively in teams, manage stress, and/or lead others (Ashkanasy & Trevor-Roberts, 2000; Mayer, Salovey, & Caruso, 2004; George, 2000; Goleman, 1998; Goleman, Boyatzis, & Mckee, 2002; Prati, Douglas, Ferris, Ammeter, & Buckley, 2003). For example, leaders who are poor at perceiving their emotions may unknowingly miss important emotional signals from their co-workers. Similarly, leaders who are poor at managing emotions may allow their emotions to interfere with effective action. For instance, when they feel anxious, they may avoid giving an important speech, or when they feel angry, they may inappropriately lash out at a co-worker. The transformational/transactional leadership model of Bass and Avolio (1990) has provided the general framework for most of the research on emotional intelligence and leadership effectiveness (see for example, Barling, Slater & Kelloway...
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...Submitted by WWW.ASSIGNMENTPOINT.COM The report titled “Compensation practice and Employee satisfaction in Banking Industry”-An Analysis to identify the influential factors and their Relationship”, is submitted as an partial prerequisite of the BBA program of Stamford University, Bangladesh. The purpose of this internship report is to highlight the overall compensation & employee satisfaction activities of “Exim Bank”, along with the brief description of Exim Bank Limited. Writing this report has been a great pleasure & an interesting experience. It enabled me to know the insight activities of Human resource Department. The research method used for this report was survey. After a good effort I came up with a final questionnaire. This questionnaire was given to the groups of different employees for the research. This project helped me tremendously to understand the implication of my book knowledge in the practical field. It has also shaped some of my basic views like how to communicate & carry oneself in the world of business. I realize that certain information enclosed in this report is confidential & should be confined within academic discourse & interest. I am extremely grateful to you for your valuable guidance, diligent effort & awareness whenever it was required. I tried my best to follow your instruction, schedule, format & discipline obediently & sincerely. To complete this study, I have used structured questionnaire & each...
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...INTRODUCTION Why &who does CSR? How can we better fight against major global concerns such as extreme poverty, the environment, and education? Probably this is the most pressing question we can ask of civil society in this fast-growing period. Governments are resolving these problems, but one of the major limitations of state-funded intervention is that it is risk-averse, willing to put money only toward proven projects. Risk taking is more to the liking of private individuals, foundations, non-profits, and leading philanthropists. To be sure, this latter group is doing their part. However, the primary weakness of intervention by foundations, philanthropists, non-profits, and private donors is that these groups do not have the technological or personnel infrastructure to extend the influence of those funds. Who does? Corporations do. Some of the leading advocates of corporate social responsibility (CSR) base their argument on the notion that corporations are the best equipped to address the world's greatest concerns because they not only have the funding, but they also have the technological or personnel infrastructure to optimize results. What is CSR? Corporate social responsibility is a form of corporate self-regulation integrated into a business model. CSR is titled to aid an organization's mission as well as a guide to what the company stands for and will uphold to its consumers. Development business ethics is one of the forms of applied ethics that examines ethical...
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...Reengineering: rethinking and radical redesign of business processes to achieve dramatic improvement in cost , quality, services and speed Outsourcing: contracting outside work that was formerly done by employees inside the company Change management: bring about and managing change at both the organizational and individual level Proactive Change: Change initiated to take advantage of targeted opportunities Globalization: Opening up foreign markets to international trade and investment Reactive Change: Change that occurs after external forces have already affected performance Corporate Social: The responsibility of the firm to act in the best interests of the people and communities affected by its activities Collaborative Software: Software that allows workers to interface and share information with one another electronically Human Resource Information System: A computerized system that provides current and accurate data for purposes of control and decision making Furloughing: A situation in which an organization asks or requires employees to take time off for either no pay or reduced pay Employee Leasing: The process of dismissing employees who are then hired by a learning company and contracting with that company to lease back employees...
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