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B.K MAJUMDHAR INSTITUTE OF

ADMINSTRATION

PRATICAL STUDIES

DRAFT-1

NAME: ANKIT.S.VASWANI

FY BBA -3

ROLL NO: 356

PROFESSOR IN CHARGE: KARISHMA DALAL

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Basic s of organisation:

Organisation basically means a group of peopl e trying to acco mplish a common objective for the organisation.

To elaborat e the de finition furth er ther e ar e some views points that what thing s go in an organisation.

1.

Organisation is syst em of structur es and functions 2.

Organisation is structur e in action over time.

3. It is a proc essing syst em4.

It is a structur es of sub- groups that means depart ments 5.

It is a cultural pro duct.

The proc ess of organisation may well be de scri bed as the manag erial function of organising. To organis e is to har monis e, co-or dinat e or arrang e in a logical and or derly mann er. The manag erial function of organising consists in making a rational division of works into group of activiti es.

Its importanc e

1.

It faciliti es administration 2.

It mak es gro wth and diversification possi ble.

3.

It provi des opti mum use of technological improv eme nts. 4.

It simulat es independent, cr eative thinking and inc entiv e through well defin ed ar eas of work.

Some of the typ es

The military

Functional organisation

Line and staff syst em

Authority and r esponsi bility

It is also divi ded in thr ee parts: -

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Organization des ign

Organization: Organization r ef ers to the structur e of r elationships among positions and jobs which is built up for the r ealization of the organization goals. This structur e clarifi es theauthority and r esponsi bility vested in each position of the organization and mak es the co-or dination of all the activiti es undertak en for the acco mplish me nt of the organizational goals easy.

An organizational structur e shoul d be de sign ed to clarify who is to do what tasks and w ho is

r esponsi ble for what r esults , to r emove obstacl es to perfor manc e caus ed b y confusion andunc ertainty of assign ment, and to furnish decision making and comm unication networks r eflecting and supporting enterpris e objectives.

The comm on f eatur es of all organizational structur es ar e:

1.

Division of labor. 2.

Co-or dination.

3.

Acco mplish ment of the objectives. 4.

Authority and r esponsi bility structur e.

The person having the high est authority to tak e de cision in an organisation to impleme nt to decide to exe cut e how any organisation will work depends upon the top level manag eme nt. They ar e the one w ho decides policy; they ar e person r esponsi ble for theorganisation. These inclu de top boar d of dir ectors and general manag ers. They hav e day to day r esponsi biliti es of han dling the em ploy ee san d e veryon e. Over the top manag eme nt ther e ar e f ew people only.

The top manag eme nt need s to hav e to do mor e of mind w ork they dont hav e technical things to be d one. They hav e to for m the policy in such a fashion so that nothing is illegal. If anything is illegal or not allowed b y the government so these top authority s ar equestiona ble. They ar e the person to set company s prosp ectus and to follo w each and

every proc edur e that a company r equir es to start. From stak e holders to investors everyon e is accounta ble by these people.

Hierarchy of managementH ierarchy basically means the manag eme nt the group of arrang eme nt of diff er ent pro ducts

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Organizations can be structur ed using a hierarchy. In an organizational hierarchy , ther e is a singl e person or group with the m ost power and authority , and each subsequent level r epr esents a lesser authority. Most organizations ar e structur ed in this mann er , inclu ding governments , compani es, militia and organiz ed r eligions. The units or persons within an organization ar e for med hierarchically in an organizational chart.

Organi s ational s tructur e an d chart .

An organizational chart of a company usually shows the manag ers and sub-w ork ers who

mak e up an organization. It also shows the r elationships betwee n the organization's staff membe rs which can be seen easily in the chart.

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The structur e of an organisation which defines it s working accor ding to diff er ent typ es of structur e in an organisation. The typ es ar e as follo ws:-

Functional

Divisional

Matri x

Functional

Employ ees within the functional divisions of an organization tend to perfor m a specializ edset of tasks , for instanc e the e ngin eering depart ment would be staff ed only with engin eers. This leads to high er effici encies within that group. However it coul d also lead to a lack of comm unication betwee n the functional groups within an organization , making the

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applicants might need to go through several depart ments namely vali dation , licensing and tr easury , be for e r eceiving the drivers license.

Production

P lant location Plant location r ef ers to the choic e of r egion and the selection of a particular site

for setting up a busin ess or factory. But the choic e is made only aft er consi dering cost andbenefits of diff er ent alt ernativ e sites. It is a strat egic decision that cannot be chang ed onc etak en. If at all chang ed only at consi derable loss , the location shoul d be selected as per its own r equir eme nts and circu mstanc es. Each indivi dual plant is a cas e in itself. Busin ess man shoul d try to mak e an att empt for opti mum or ideal location. An ideal location is one wher e the cost of the pro duct is k ept to mini mum, w ith a Larg e mark et shar e, the least risk and the maximum social gain. It is the plac e of Ma ximum net advantag e or which gives lowest unit cost of pro duction and

Distri bution. For achi eving this objectiv e, small-scal e e ntr epr eneur can mak e useof location analysis for this purpos e.

P ro d uct p ortfolio

The busin ess portfolio is the coll ection of busin esses and pro ducts that mak e up the company. The be st busin ess portfolio is one that fits the company's str engths and helps exploit the m ost attractiv e opportuniti es.

The company must:

(1) A nalys e its curr ent busin ess portfolio and de cide w hich busin ess es shoul d r eceive m or e or less investment, and

(2) De velop gro wth strat egies for adding new pro ducts and b usin esses to the portfolio , w hilst at the same time de ciding when pro ducts and busin esses shoul d no long er be r etain ed.

Eg: car eer portfolio , pat ent and pro duct as well

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Q uality control

Quality Control is the most important insp ection control of all in cas es wher e, de spit estatistical quality control techni ques or quality improv eme nts impleme nted, sal es decr ease.

If the original specification does not r eflect the corr ect quality r equir eme nts , quality cannot be insp ected or manufactur ed into the pro duct.

A quality control is very important for any fir m. It wills not insur ed that the good s will be

pro duced w ith right time b ut the right quality is also very important. This is done with thehelp of insp ection. It is compar ed w ith the quality which is bee n set for the company. To mini mise the r eduction the quality may be check ed at every stag e of the pro duction.

The basic r equir eme nts that ar e r equiring for the quality control ar e as follo ws:-

1.

Complete info. About the pro duct which was made pr eviously. 2.

Up to date info about the raw m aterials that ar e to be used.

3. Kno wledge of work is taking plac e. 4.

Data about the power the working of speed, and f eeds of the e ntir e various machin e. 5.

The best combination that has to be used w hile working.

6.

Car eful instructions to everyon e hav e to be given how the w ork has to be d one in a fir m. The two major techni ques ar e1.

Control chart

2.

Accepting sa mpling

Control chart It depicts the actual measur eme nts of all or some of the parts that ar e to bemanufactur ed, and it s most important means is of quality control. Each charts sho wtwo line w hich hav e ther e tol eranc e limits. Acceptanc e of sa mples It is a post -mort em that the q uality of the pro duct that has bee n pro duced. It is basedon principl e of selecting any ran dom alternativ e w hich has to work. Generally a

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Mark eting decisions generally fall into the follo wing four controlla ble categori es:

y

Product

y

Price

y

Place (d istri bution )

y

Promotion

The Mark eting Mix

Product Decisions

The ter m " pro duct " r ef ers to tangi ble, physical products as well as servic es. Her e ar e someexamples of the pro duct decisions to be m ade:

y

Bran d na me

y

Functionality

y

Styling

y

Quality

y

Saf ety

y

Packaging

y

Repairs and S upport

y

Warranty

y

Accessori es and servic es

Price De cisions

Some ex amples of pricing decisions to be m ade inclu de:

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Packaging: a prop er packing is r equir ed. Some national company s hav e to send ther e pro duct in various stat es. So the packing becomes an important conc ern for the manag eme nt which has to be tak en in consi deration.

Price: the k ey factor at which the consu mer looks first to see this thing. It has to be so effici ently decided so that we can be be tter good and be st than our competitors.

Promotion: the advertiseme nt of the pro duct. To mak e awar e about the pro duct to the public that how good the pro duct is how good its quality is??? Various other valu e additions that ar eprovi ded in the pro duct hav e to be seen.

Peopl e: the m ost important factor the consu mer who is going to consu me all the pro ducts is

the k ey thing in an any fir m. Ther e shoul d be right plac e to attract the consu mer.

T arg e t cu s tom e r s

All of an organizations r evenues and profits r esult from one thing custo mers who ar ewilling to pay money for pro ducts and servic es that mee t their need s. Any bran dmanag eme nt initiativ e, any mark eting initiativ e, and indeed any busin ess or organizational initiativ e must start with a soli d understan ding of the custo mer. The custo mer s is the m ost important thing in the mark et. So each and every company shoul d targ et their custo mer in a way. If the q uality of the pro duct is for the m iddle class people, so add shoul d be d one in thesa me particular fashion. Eg the car which is very luxury so its add shoul d be d one for thehigh er class of people to attract the custo mer. Becaus e that add is useless to show to a poor.

Look for custo mers that mee t the follo wing crit eria:

T hey hav e an important need and your bran d mee ts that need. Y our bran d has the potential to be pr ef err ed b y them.

T here is something about your bran d that they admire

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P lac e: d is tri b ution n e twork

Place, m or e comm only call ed d istri bution , inclu des the organizations (a company and its partn ers), locations (quantity and typ e), and proc esses (physical , digital , intellectual ) that support the cr eation and fulfil ment of custo mer deman d, and provi de any r equir ed post-purchas e servic e.

Eff ective d istri bution provi des custo mers with conv enience in the for m of availa bility (what ,wher e, w hen - the right pro duct , at the right plac e, at the right time), acc ess (custo mers' awar eness of the availa bility and authorization to purchas e), and support (e.g. pr e-sal es

advic e, sal es pro motion and me rchan dising , post -servic e r epairs ).

Distri bution decisions hav e both strat egic and logistical dimensions:

Strat egic distri bution is a competitiv e advantag e that accru es generally from the configuration of a distri bution network (who, w hat , w her e, w hen) and, m or e specifically , from the selection of partn ers (i.e. middleme n) w ho inter med iat e be twee n the company and the custo mer by

perfor ming necessary fulfil ment and servic e activiti es. To targ et the custo mer very eff ectiv ely with good amount of advertiseme nt s.

Logistical distri bution (also know as. supply chain manag eme nt), w hich is gear ed to effici ently supporting the strat egic obje ctives, r ef ers to the storag e and m oveme nt of goods,infor mation , and m oney betwee n the manufactur er and the final custo mer. Logistics is sometimes inappropriat ely viewed as an exclusiv e operations function. In r eality , mark eting oft en has a major rol e in the day-to-day logistics proc ess with r esponsi biliti es ranging fro msal es for ecasting and dem an d manag eme nt to inventory planning and the allocation of short

suppli es.

P ric eThe topic pric e it s and w ide conc ept to talk about in manag eme nt. The conc ept is basically

r elated to macro econo mies. And the factor pric e is inclu ded in manag eme nt. It is also an factor in the manag eme nt as pric e plac e an important factor. Price w orks in day to day basis it does fluctuat e also. So to k eep the pric e this is best for the custo mer also and for them as well. Being the pro ducer s also the pric e shoul d be such that which is beneficial to both theparti es.

The conc ept of pric e is central to micro econo mics wher e it is one of the most important

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P romotion an d a dve rti se m e nt cam p aign

Advertising med ia

Ther e is a hug e vari ety of med ia availa ble through which a busin ess can con duct an advertising ca mpaign. What ar e the main typ es of med ia and w hat consi derations shoul d a busin ess mak e in choosing betwee n them?

The starting point in the selection of appropriat e advertising med ia is a med ia analysis. This can be de fin ed as:

"A n investigation into the r elativ e eff ectiveness and the r elativ e costs of using the various advertising med ia in an advertising campaign "

Befor e committing an advertising budget it is necessary to carry out mark eting r esearch on:

- P otential custo mers

- T heir r eading habits, television -watching habits

- How m any times the advertis ers wish the potential custo mers to see an advertis eme nt

- How gr eat a percentag e of the m ark et they wish to r each , etc.

These elements all need to be consi der ed and balanc ed to plan a campaign that will eff ectively r each its targ et audience at a r easona ble cost.

A useful distinction can be m ade be twee n publish ed med ia and visual/ural med ia.

Publish ed med ia inclu de:

N ational daily newspap ers S unday newspap ers L ocal and r egional newspap ers C onsu mer magazin es S pecialist magazin es T rade and prof essional pr ess I nternet Visual and aural med ia inclu de:

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over the int ernet such as through Amazon and e- Bay hav e larg ely bypass ed the involv eme nt of Custo ms in many countri es becaus e of the low individual valu es of these tra des. Nonetheless, these small exports ar e still subject to legal r estrictions appli ed b y the country of export. An export's count erpart is an import.

The ter m "ex port " is derived from the conc eptual meaning as to ship the goods and servic es out of the port of a country. The seller of such goods and servic es is r ef er ed to an "export er "who is based in the country of export wher eas the overseas based b uyeris r ef er ed to as an "import er ". In International Trade, "ex ports " r ef ers to selling goods and servic es pro duc ed in home country to other mark ets. [1]

In econo mics, an export is any good or commodity, transport ed from one country to anoth er country in a legiti mate fashion , typically for use in tra de. Export goods or servic es ar eprovi ded to for eign consu mers by domestic pro ducers. [2]

Export of comme rcial quantiti es of goods nor mally r equir es involv eme nt of the custo ms authoriti es in both the country of export and the country of import. The advent of small tra des over the int ernet such as through Amazon and e- Bay hav e larg ely bypass ed the involv eme nt

of Custo ms in many countri es becaus e of the low individual valu es of these tra des. Nonetheless, these small exports ar e still subject to legal r estrictions appli ed b y the country of export. An export's count erpart is an import.

For Small-and-Medium E nterpris es (SME) w ith less than 250 em ploy ees, selling goods an dservic es to for eign mark ets seems to be m or e d ifficult than serving the d omestic mark et. Thelack of knowledge for tra de r egulations , cultural diff er ences, d iff er ent languag es and for eign-exchang e situations as well as the strain of r esourc es and staff int eract lik e a block for

exporting. Indeed ther e ar e some S ME's which ar e ex porting , but nearly two-thir d of themsell in only to one for eign mark et.

F inance

Financ e to run any busin ess or the fir m the most important thing is money. It is lif e line of any fir m. It has to be ther e for the ex istence of the fir m. Financ e is the science of funds manag eme nt. The general ar eas of financ e ar e busin ess financ e, personal financ e, and public financ e. Financ e inclu des saving money and often inclu des lending money. The field of financ e de als with the conc epts of time, m oney and risk and how they ar e interr elat ed. It also deals with how m oney is spent and budgeted.

Financ e w orks most basically through indivi duals and busin ess organizations depositing

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organizations hav e be come important as they invest in various for ms of debt. Financial ass ets, known as investments , ar e financially manag ed w ith car eful att ention to financial risk manag eme nt to control financial risk. Financial instru ments allo w m any for ms of securitiz edass ets to be tra ded on securiti es exchang es such as stock exchang es, inclu ding debt such as bonds as well as equity in corporations. Financ e is also sai d to blood of the busin ess. W ithout it is not possi ble to run any busin ess.

S ourc es of financ e

Internal sourc es of financ e

Organic gro wth gro wth generat ed through the de velop ment and ex pansion of thebusin ess itself. Can be achi eved through:

Generating incr easing sal es incr easing r evenue to impact on overall profit levels

Use of r etained profit used to r einvest in the busin ess

Sale of ass ets can be a double ed ged swor d r educes capacity?

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Short Te r m used to cover fluctuations in cash flow

Inorganic Growth growth generat ed b y acquisition

Long ter m

Shar es (Shar eholders ar e part owners of a company )

Or dinary Shar es (Equiti es):

Or dinary shar eholders hav e voting rights

Dividend can vary

Last to be pai d back in event of collaps e

Shar e pric e vari es with tra de on stock exchang e

Pr ef er ence S har es:

Paid be for e or dinary shar eholders

Fixed rat e of r eturn

Cumulativ e pr ef er ence shar eholders hav e right to divi dend carri ed over to next year

in event of non-pay ment

New S har e Issu es arrang ed b y merchant or investment banks

R ights Issu e ex isting shar eholders given right to buy new shar es at discount ed rat e

Bonus or Scrip Issue chang e to the shar e structur e incr eases numbe r of

shar es and r educes valu e but mark et capitalisation stays the sa me

Short ter m

Bank loans necessity of paying inter est on the pay ment, r epay ment periods from 1

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Over draft limit the maximum amount allo wed to be d ra wn - the fir m d oes not hav e to use all of this limit

Trade cr edit C ar eful manag eme nt of tra de cr edit can help eas e cash flow usually betwee n 28 and 90 d ays to pay

Factoring the sal e of debt to a specialist fir m w ho secur es pay ment and charg es a comm ission for the servic e.

Leasing provi des the opportunity to secur e the use of capital without ownership

eff ectively a hir e agr eeme nt

Inorganic gro wth

Acquisitions

The necessity of financing external inorganic gro wth

Merger: fir ms agr ee to join together both may r etain some for m of identity

Tak eover: One fir m secur es control of the other , the fir m tak en over may lose its identity

Capital structur e

In financ e, capital structur e r ef ers to the way a corporation financ es its ass ets through somecombination of equity , deb t, or hybrid securiti es. A fir m's capital structur e is then thecomposition or 'structur e' of its liabiliti es.

The capital structur e of a company essentially descri bes the financing of a company. This can be viewed through the right side of the balanc e sheet which displays liabiliti es andshar eholders equity. Many diff er ent for ms of analysis , through many diff er ent financial ratios , can be perfor med to gaug e near ter m and long ter m financial health of the company.

A m ix of a company's long -ter m deb t, specific short -ter m deb t, comm on equity and pr ef err edequity. The capital structur e is how a fir m financ es its overall operations and gro wth by using diff er ent sourc es of funds. D b i h f f b d i l bl hil i i l ifi d

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Basics ratios

Financial ratios ar e useful indicators of a fir m's perfor manc e and financial situation. Most ratios can be calculat ed from infor mation provi ded b y the financial stat eme nts. Financial ratios can be used to analyz e tr ends and to compar e the fir m's financials to thos e of other fir ms. In some cas es, ratio analysis can pr edict futur e bankruptcy.

Financial ratios can be classifi ed accor ding to the infor mation they provi de. The follo wing types of ratios fr equently ar e used:

y

Liquidity ratios y

Asset turnov er ratios

y

Financial leverag e ratios

y

Profita bility ratios

y

Dividend policy ratios

Use and L imitations of Financial R atios

Attention shoul d be given to the follo wing issu es when using financial ratios:

y

A r ef er ence point is needed . To to be me aningful , most ratios must be compar ed to historical valu es of the sa me fir m, the fir m's for ecasts , or ratios of similar fir ms.

y

Most ratios by themselves ar e not highly meaningful. They shoul d be viewed as indicators , w ith several of them combined to paint a pictur e of the fir m's situation.

y

Ye ar -end valu es may not be r epr esentativ e. Certain account balanc es that ar e used to calculat e ratios may incr eas e or decr ease at the e nd of the accounting perio d be caus eof seasonal factors. Such chang es may distort the valu e of the ratio. Averag e valu es shoul d be used w hen they ar e availa ble.

y

R atios ar e subject to the limitations of accounting methods. Diff er ent accounting choic es may r esult in significantly diff er ent ratio valu es.

DE BT RATI O= TOTALDE BT/ TOTAL ASSETS

CURRENT RATI O=CURRENT ASSETS /CURRENT LIA BILTY

AVERAGE RATI O= AVERAGE C OLLECTI ON/ANNUAL CREDIT SALES

INVENT ORY PERI OD= AVERAGE IN VENT ORY / TIME PERI OD

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P ERS ONNEL The succ ess of an organization depends on the capaciti es and capa biliti es of its personn el. Unless an organization devotes enough r esourc es on the develop ment of its human r esourc e, it would not get the r equir ed output from its personn el. An organizations comm itment to the de velop ment of human r esourc e has to be r eflected in its polici es,proc edur es, practic es, custo ms and ideals.

The function of a personn el manag er usually begins with the staffing proc ess. The manag er may be focus ed on scr eening and intervi ewing applicants , w ith an eye to placing indivi duals with the right skill sets in the right position within the company. Along with plac eme nt, theHR manag er may also oversee, or at least be involv ed in, the cr eation of entry level training progra ms, as well as continuing education opportuniti es for existing employ ees.

Deter mining company polici es and proc edur es as they r elat e to personn el is anoth er important asp ect of the personn el manag eme nt proc ess. HR functions oft en inclu de d rafting vacation , sick leave, and be r eaveme nt polici es that apply to all employ ees. The personn el manag eme nt team is also often r esponsi ble for managing any healthcar e progra m provi ded to the em ploy ees as well.

One asp ect of company organization that need s the input of eff ective personn el manag ement is the drafting of a company han dbook. Esta blishing operation polici es and proc edur es,r equir eme nts for employ ment, comme ndation and disciplinary proc edur es, and even something as simple as a dr ess code has to be compar ed w ith stat e and f ederal guidelines befor e the han dbook is r eady for r elease to the company at larg e. Personn el manag ers and theHR staff ar e ideal for drafting and r eviewing the company han dbook.

Sometimes overlook ed in the cours e of personn el manag eme nt is the em otional welfar e of theemploy ees. Incr easingly , mor e personn el manag ers understan d that a well-adjust ed em ploy eeis an ass et to the company. To this end, m any people in charg e of personn el manag eme nt try to provi de opportuniti es for employ ees who ar e in need of couns eling to r eceive support fro mthe company.

This support oft en involv es sch eduling time d uring working hours for the couns eling sessions , and perhaps picking up the cost if insuranc e does not cover couns eling. As with continuing educational progra ms, couns eling is seen as anoth er way that the company invests in the futur e r elationship betwee n the em ploy ee and the em ploy er. A good HR m anag er understan ds this and w ill striv e to mak e sur e this sort of support is availa ble.

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Some of k ey things ar e as follo ws

y

Excellent perfor manc e is bas ed on str engths

y

Step 1: Identifying tal ents

y

Step 2: Applying and using Str engths

y

Step 3: Managing Weakn esses

y

Manag eme nt and self manag eme nt

y

Literatur e

Excellent perfor manc e is bas ed on str engths

Str engths ar e tal ents + skills + knowledgeThe authors defin e str engths as a tal ents completed w ith skills and knowledge. Skills andknowledge can be de velop ed very well provi ding talent is ther e but tal ent itself can not , or har dly, be de velop ed. Str engths can thus be de velop ed b y identifying tal ents and completing them w ith skills and knowledge. Of cours e, we akn esses and limitations dont hav e to bedenied or ignor ed. After all , e liminating impeding limitations can be a necessary r equir eme nt of good perfor manc e too.

Applying and using Str engths Help employ ees to use their str engths. This may seem lik e forcing an open door but many people oft en leave their str engths unus ed. Help the em ploy ee to see that it is wise to usestr engths consciously. Applying str engths when they ar e unask ed for is a wast e of your talents and can be annoying to others. What is oft en seen as a weakn ess is actually a str ength in a situation or at a time that does not ask for it. The question thus is: when is the time right

to use your str engths?

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not perfor m to well on the w hol e you can focus on str engths by identifying thos e situations in which the perfor manc e did ex ceed ex pectations.

Managing W eakn esses

Not only would that be asking too much of people, it can also be j ust plainly useful to

ackno wledge pro blems and to tak e away hindering factors lik e we akn esses and limitations. But the way you do that is important. Dont try to turn r eal weakn esses into r eal str engths. This will most lik ely be a complete wast e of time and lead to frustration both with you andthe em ploy ee. How to do it mor e eff ectively? Her e ar e some sugg estions.

Manag eme nt and self manag eme nt Hopefully you lik e these tips and see their use in you job as a (HR) m anag er. The sugg estions ar e int ended principally to be of use for you in your manag eme nt r esponsi bility. But they may also be useful for the way you manag e yours elf. After all, you own perfor manc e is also served be st with a str engths -bas ed approach.

Re cruitm e nt p olicy In todays rapi dly changing busin ess environ ment, a well defin ed r ecruit ment policy is necessary for organizations to r espon d to its human r esourc er equir eme nts in time. Ther efor e, it is important to hav e a clear and concis e r ecruit ment policy in plac e,

which can be exe cuted e ff ectively to r ecruit the be st talent pool for the selection of the right can didate at the right plac e quickly. Cr eating a suita ble r ecruit ment policy is the first step in the e ffici ent hiring proc ess. Aclear and concis e r ecruit ment policy helps ensur e a

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COM PONENTS OF T HE RECRUIT MENT P OLICY

y

The general r ecruit ment polici es and ter ms of the organisation

y

Recruit ment servic es of consultants

y

Recruit ment of temporary employ ees

y

Unique r ecruit ment situations

y

The selection proc ess

y

The job de scriptions

y

The ter ms and con ditions of the em ploy ment

A r ecruit ment policy of an organisation shoul d be such

that:

y

It shoul d focus on r ecruiting the be st potential people.

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y

Governme nt polici es on r eservations.

y

Pr ef err ed sourc es of r ecruit ment.

y

Need of the organization.

y

Recruit ment costs and financial implications.

T raining an d deve lo p m e nt It is a subsyst em of an organization. It ensur es that randomness is r educed and learning or behavioural chang e tak es plac e in structur ed for mat. TRADITI ONAL AND MO DERN APPR OAC H OF TRAINING AND DE VLOPMENT

Traditional Approach Most of the organizations befor e never used to believe in training. They wer e holding the tra ditional view that manag ers ar e born and not made. Ther e we r e also some views that training is a very costly affair and not worth. Organizations used to believemor e in executiv e pinching. But now the scenario seems to be changing. The m odern approach of training and de velop ment is that Indian Organizations hav e r ealized

the importanc e of corporat e training. Training is now consi der ed as mor e of r etention tool than a cost. The training syst em in Indian Industry has bee n chang ed to cr eat e a smart er workforc e and yield the be st r esults TRAINING AND DE VEL OPMENT OBJECTI VES

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Organizational Objectives assist the organization with its primary obje ctiv e by bringing indivi dual eff ectiveness. Functional Objectiv es maintain the depart ments contri bution at a level suita ble to theorganizations needs. Societal Objectives ensur e that an organization is ethically and socially r esponsi ble to theneed s and chall enges of the soci ety.

Re war d s y s t e m

Abraha m Maslo w de velop ed a theory as to how to r ewar d or motivat e d iff er ent peopl e

Physiological Need s

They consist of need s for oxygen, food, w ater , and a r elatively constant body temperatur e. They ar e the strong est need s becaus e if a person wer e de priv ed of all need s,the physiological ones would come first in the person's search for satisfaction.

Saf ety Need s

When all physiological need s ar e satisfi ed and ar e no long er controlling thoughts and be haviours , the need s for security can become activ e. Adults hav e littl eawar eness of their security need s except in times of emerg ency or periods of disorganization in the social structur e ( such as widespr ead rioting ). Childr en often display the signs of insecurity and the need to be saf e.

Need s of Love, A ff ection and Belongingn ess

When the need s for saf ety and for physiological well-being ar e satisfi ed, the next class of need s for love, aff ection and be longingn ess can eme rge. Maslo w stat es that people seek to overco me f eelings of loneliness and ali enation. This involv es both giving and r eceiving love, aff ection and the sense of belonging.

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frustrat ed, the person f eels inf erior , we ak , helpless and w orthl ess.

Need s for Self -Actualization

When all of the for egoing need s ar e satisfi ed, then and only then ar e the need s for self -actualization activat ed. Maslo w de scri bes self -actualization as a person's needto be and do that which the person was "born to do." "A m usician must mak emusic , an artist must paint , and a poet must write." T hese need s mak e themselves f elt in signs of r estl essness. The person f eels on edge, tense, lacking something , in short , r estless. If a person is hungry , unsaf e, not loved or acc epted, or lacking self -esteem, it is very easy to know w hat the person is r estl ess about.

Social r esponsi bility

Corporat e social r esponsi bility (CSR), also known as corporat e r esponsi bility , corporat e

citiz enship , r esponsi ble busin ess, sustaina ble r esponsi ble (SR B), or corporat e social perfor manc e, is a for m of corporat e self -r egulation integrat ed into a busin ess model. Ideally,CSR policy would function as a built -in, self -r egulating mechanis m w her eby busin ess wouldmonitor and ensur e their adher ence to law, e thical stan dar ds, and international nor ms. Busin ess would emb rac e r esponsi bility for the impact of their activiti es on the environ ment,consu mers, em ploy ees, comm uniti es, stockhol ders and all other membe rs of the public spher e.

Awar ds an d achi eve m e nt s

This provi des a motivation and boost to each and e very employ ee for giving their best an dperfor ming their best and w orking best for this awar ds. So this thing help in att ending theobjectives and the goals of the busin ess. To sustain and to achi eve high er develop ment in futur e.

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Re f e r e nc e

Googl e

Net.mba.in

Manag eme nt site.in

Y.K. bhushan

Manag eme nt by robbins

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