Essay on Training and Development and Performance Management

Introduction In order to define Human Resource Strategy, one must first understand the concepts behind an organisation’s business strategy and its HRM practices. Various definitions of ‘strategy’ exist, almost all of which boil down to the simple fact that it is the general direction of an organization, which it must strive to go in the long term. The responsibility of adhering to the business strategy falls on the managers, who must use the resources at hand, keeping in context with the business environment their particular organisation is in, in order to achieve the goals laid down in the strategy by the stakeholders. Using the above-established definition of strategy and applying it to the context of Human Resource Management, one†¦show more content†¦Development Human Resource Development (HRD), as opposed to training, is concerned with the development of individual employees on a personal level. This provides the workers with the appropriate skills which will in the long term assist them in performing their job in a better way, not just individually but also when teamed up with their colleagues. In a dynamic business environment, a proper HDR strategy also ensures that employees’ skill sets are constantly up to date with what the business strategy requires them to achieve. When the HDR strategy is designed in such a way that it conforms to the business strategy, this personal development imparted to the employees together with their skill sets ultimately result in a better organizational performance which helps the firm achieve its long term goals. When developing an HRD strategy, business goals, important as they may be, are not the only aspect that must be considered. The potential and aspirations of employees have to be taken into account. Strategic HRD policies are thus not as broad as other HRM policies, but rather more individual. Rather than dealing with personnel development as a whole, they have to do more with the personal development of individuals and their respective personalities. When effort is made to develop personalities, the employees concerned become more competent, thus increasing theirShow MoreRelatedInternational Performance Management And Training And Development1958 Words   |  8 PagesOver the years, human resource management has attracted a vast amount of interest over different disciplines due to the effect and contribution it had on the fundamental issues within the organisation (Singh, Darwish, Coster Anderson 2012). Arthur states, HRM practices essentially contribute to the organisations compet itive advantage and the achievement of organisational performance (Arthur 1997, cited in Singh, Darwish, Coster Anderson 2012). This not only emphasizes on the significance of humanRead MoreEssay on Performance Management: Selection, Training, Development792 Words   |  4 PagesPerformance Management: Selection, Training, Development A strong and effective performance management system â€Å"enables a business to sustain profitability and performance by linking the employees pay to competency and contribution. It provides opportunities for concerted personal development and career growth. It brings all the employees under a single strategic umbrella. Most importantly, it gives supervisors and subordinates an equal opportunity to express themselves under structured conditions†Read MoreHuman Resources Management– Case Study1421 Words   |  6 PagesHuman Resources Management– Case Study Human resource management refers to a series of human resources policies and the corresponding management activities. 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Training is giving employees the knowledge, skills and attitudes needed to perform their job. Development is the continuous process of acquiring the knowledge, skills and attitudes that will be needed to cope with changes in job demand or to tackle a job with greater authority and responsibility. Performance management is a process of defining desired outcomes linked with performance standards for a specified period of time and comparing themRead MorePerformance Appraisals and Employee Performance1035 Words   |  4 Pagesï » ¿Performance Appraisals and Employee Performance: Performance appraisals are constantly viewed as burdensome tasks that employers would like to avoid despite understanding the significance of evaluating the performance of employees. This consideration is further fueled in organizations and companies with minimal pay raises and bonuses as well as those with downsized compensations. Organizations that take similar initiatives to deal with current economic challenges also experience difficulties

The Storm Of Change Brought From Globalizaion Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1546 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? The era of globalization has brought about a storm of change that has overturned almost every aspect of business and trade. It has affected every industry, every sector, every nation and every economy, giving rise to the concept of the world being a global village, where there are no boundaries. With the advent of globalization, there is a need amongst the investors to expand their horizons beyond their local security markets. Don’t waste time! Our writers will create an original "The Storm Of Change Brought From Globalizaion Finance Essay" essay for you Create order Indian Depository Receipts, or IDRs, are a result of this phenomenon. It is a rupee-denominated, derivative financial instrument that allows foreign firms to raise capital in India. The need for international diversification of an investors portfolio has driven the formation of this financial instrument. The rising economy of India is making India an irresistible investment playfield for investors throughout the world. Although IDR is not very different from other financial instruments, it has its own set of merits and de-merits. It allows firms to broaden and diversify their investor base, thereby promoting a global image for the firm. Although its American counterpart American Depository Receipt (ADR) has been there since the 1920s, IDR is relatively young, being born in 2004, and even then it was widely unpopular due to the rigid conditions RBI had put on the applicant firms. It was only after the changes made in the ruling in 2007 that the concept of IDRs gained momentum , with Standard Chartered becoming the first firm ever to apply for registration of IDR issues in April 2010. A lot remains to be seen about the future of IDRs and the role they play in the Indian Economy. This paper gives the reader a simplified insight into the inner workings of IDRs, what they are; how they are issued, their pros and cons for both individual investors as well as institutional investors; all of this minus the superfluous and baffling technical jargon. Section 2 deals with defining what IDRs are and why they are needed, while section 3 deals with the history of IDRs. Section 4 deals with a brief overview of the whole process of issuing and registering for issuance of IDRs. Section 5 deals with the advantages and disadvantages of IDRs and section 6 deals with a comparison of IDR with its American counterpart. Section 7 provides an insight into the Standard Chartered story: the first ever firm to register for an IDR issue. Lastly section 8 deals with the fut ure prospects of IDRs, what it can do for investors and the Indian Economy. Section 9 and 10 provide the conclusion and references respectively. 2. Indian Depository Receipts As per the definition given in the Companies (Issue of Indian Depository Receipts) Rules, 2004, an Indian Depository Receipt is defined as: A rupee-denominated instrument in the form of a depository receipt created by a Domestic Depository (custodian of securities registered with the Securities and Exchange Board of India) against the underlying equity of issuing company to enable foreign companies to raise funds from the Indian securities Markets. The concept and the need for IDRs can be best understood with an example. Say, Mr A, an Indian investor, wants to invest money in AutoNation, a US company listed on the New York Stock Exchange. The traditional method for investing would be to contact a broker of NYSE and deal with him. But it is not as simple as it sounds. Mr. A will have to face a lot of obstacles such as unstable settlements, fluctuating currency conversions, unfamiliar market regulations, unreliable information channels and perplexing tax conventions and interna l investment policies. All of these are more than enough to put even the most experienced investors off their game, which defeats the whole point of them investing in foreign markets in the first place. What IDRs do, is allow people like you and me (assuming both of us are blind as a bat when it comes to finance) to invest in foreign companies and diversify our portfolio, without the aforementioned hassles. When a foreign company, like AutoNation, wants Indian investors (like Mr. A) to raise money, it will use Indian Depository Receipts (IDR). An IDR will represent underlying shares of AutoNation, but will be denominated in Indian currency. Just like the shareholder of a regular equity, Mr. A will own a part of AutoNation, and will be entitled to dividends, rights issues and other such payouts that AutoNation issues. The basic purpose behind IDRs is to achieve Cross listing. A foreign company will have the primary listing on its domestic exchange (like NYSE or LSE) while it s listing on the NSE or BSE will be secondary. An IDR has to be listed on Indian stock exchanges (like BSE and the NSE), and can be traded like regular equity shares. It allows people to invest in foreign companies without trying to scrutinize every intricacy of the trading laws and practices in that country. Also, since it is rupee-denominated, there are no hassles regarding currency conversions and fluctuating rupee values. 3. The IDR Issue Process The idea of IDRs was conceived by the Ministry of Corporate Affairs as early as 1997, via the Company Bill. But the actual amendments happened in the form of section 605A of Companies Act. In 2002, a draft of IDR rules was declared and changes were made after citing expert opinions. This finally became the Companies (Indian Depository Receipts) Rules, 2004. The regulatory body for IDRs is SEBI (Securities Exchange Board of India), which issues the guidelines for applicant companies and specifies the eligibility requirements. The model listing agreement (this is the agreement the foreign company is supposed to get into with the exchange where the IDRs will be listed) for IDRs can be found on the SEBI website for all interested parties. 3.1 Eligibility Criteria for Foreign Issuers The eligibility criteria for the foreign companies who want to issue IDRs were somewhat stiff earlier, which was the main reason behind IDRs being unpopular. But in July 2007, substantial steps were taken towards encouraging investments in IDR. Making the selection criteria more lenient was the first step towards this. The revised eligibility criteria are defined as: a. The foreign company should have PreÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ issue paidÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ up capital and free reserves of at least US$ 50 million and have a minimum average market capitalization (during the last 3 years) in its parent country of at least US$ 100 million b. It should have a continuous trading record on a stock exchange in its parent country for at least three immediately preceding years c. It should have a track record of distributable profits for at least three out of preceding five years d. The underlying shares shall not exceed 25 percent of the post issue number of equity shares of the company. CONCLUSION The internationalization of stock markets due to globalization has driven a large number of countries (both developed and developing) to unbolt their stock markets to foreign investors and to relax their previously stringent laws restricting their citizens from investing abroad. Indian markets are taking a dynamic role in this transmutation through IDRs. Undoubtedly, India has enough depth in its security markets to attract sizeable investor interest for IDRs. But problems like an unfavourable, stringent regulatory environment, difficulty in accessing markets, fungibility issues, instability of policies, etc., provided substantial hindrances to the growth of IDRs in India. Certain positive steps by SEBI like the amendment of the previous regulations and a decision to reserve almost 30 % issues for retail investors has made IDRs catch attention of global giants. It has started with Standard Chartered Bank getting a green light to Rs 50 billion through an IDR issue in 2010. It will be interesting to see if this will be an indication towards other foreign companies entering the IDR market. FURTHER READINGS Gordon J. Alexander et al., Asset Pricing and Dual Listing on Foreign Capital Markets: A Note Ernst Young Doing Business in India Tax and Business Guide 2005 Agarwal, R. N., 2000, Financial Integration and Capital Markets in Developing Countries: A Study of Growth, Volatility and Efficiency in the Indian Capital Market, mimeo, Institute of Economic Growth, Delhi Garbade, K. D. and Silber, W. L., 1979, Dominant and Satellite Markets: A Study of Dually Traded Securities, Review of Economics and Statistics Grubel, H., 1968, Internationally Diversified Portfolio: Welfare Gains and Capital Flows, American Economic Review Howe, J. S. and Madura, J., 1990, The Impact of International Listings on Risk: The Implications for Capital Market Integration, Journal of Banking and Finance Jayaraman, N ., Shastri, K., and Tandon, K., 1993, The Impact of International Cross Listings on Risk and Return, Journal of Banking and Finance Kumar, M. and Saudagaran, S. M., 2001, The Impact of International Listings on Liquidity: Evidence from the Indian Stock Market, Fifth Capital Markets Conference 2001 Patil, R. H., 1994, Capital Market Developments, The Journal of the Indian Institute of Bankers Shah, A., 1995, The Tale of One Market Inefficiency: Abnormal Returns around GDR Issues by Indian Firms, Centre for Monitoring Indian Economy Hansda, Sanjay K. and Ray, Partha, 2002, BSE and Nasdaq: Globalisation, Information Technology and Stock Prices, Economic and Political Weekly Wall Street Journal, 1996.Special report on global investing. Heston, S L and K G Rowenhorst. 1994. Does Industrial structure explain the benefits of International diversification, Journal of Financial Economics ONLINE REFERENCES www.rbi.org.in www.gdr.in www.standardchartered.co.in https://economictimes.indiatimes.com/ https://www.business-standard.com/ www.thehindubusinessline.com www.bankingupdate.com www.mca.gov.in www.ficci.com https://banking.indlaw.com/

Nora’s Individualism Free Essays

Nora’s Individualism Women in the 19th century live in the shadows of men. They don’t have occupations. Their gender role was to cook, clean, shop for the household, and to care for the children. We will write a custom essay sample on Nora’s Individualism or any similar topic only for you Order Now They were expected to find a suitor; this man would take care of the family financially. Women were submissive to their husbands back then. They didn’t stand up for their rights or voice their opinions. Women catered to their husbands. Nora is submissive to Torvalds’s needs. The play is about Nora’s behavior to her husband. She submits to him and is a mother to their children. She is unhappy as a caretaker. She over enthusiastic personality throughout the play seems forced. She feels she has no purpose in life, being a mother or housewife isn’t fulfilling her needs. She lacks being a mother the nannies constantly look after the children. She is searching for her true self subconsciously in the beginning of the play. Due to her upbringing, Nora has been raised to live under a man, to be submissive to them. Nora doesn’t know any other way than being an oppressed woman. The way Nora grew up influences her behavior now as an adult. She grew up wealthy, her father took care of her, and then she married Helmer at any early age. Nora says to Torvald † When I lived at home with Papa, he gave me his opinion about everything, she had the same opinions and if I didn’t I keep my mouth shut he wouldn’t have liked it. And then I came to live in your house. I was Just passed from Papa’s hands to yours. You arranged everything according to your own taste, and I choose the same tastes as you. Or else I pretended to† (Ibsen 1167). Nora was raised by her father to live under a man. She transitioned from living with her father and now to her husband, Torvald. Through this realization she isn’t content with her well-being. Nora appears to be happy on the outside, she is not deep inside. Her personality is over exaggerated to all. It’s apparent that it is ungenuine. She is quite giddy about small things, such as showing Torvald the items she bought. Nora says, â€Å"But come here and let me show you what I bought. And all so cheap! Look a new suit for Ivar, and a sword, a horse and a trumpet for Bob, and a doll and a doll’s bed for Emily’ (Ibsen 1122). She doesn’t ave anything exciting going on in her life, she has to focus on something no matter how minute it is. The only excitement she has is hiding the secret from Torvald. Which isn’t excitement at all, she fears he will find out about it. That’s why Nora keeps up her charade of shopping for her children and the household. That’s what she use to do before borrowing the money. This loan has given her purpose; she has to find ways to pay it back. She has done side Jobs and started being more frugal about her money she gets from her husband. Through this experience she realizes she is nhappy in her marriage. Her husband’s expectations of her are too high with a lack of love and care for one another on an intimate level. She has to live up to her husband’s standards of being a trophy wife. Nora is not satisfied with knowing that Torvald Just cares about the outward appearance ot ner and the tamily, and not the love they should share with each other. Torvald wants to have the appearance to others they are well put together. He focuses on small things like Nora dancing the Tarantella. It must be perfection in his eyes, he wouldn’t settle for anything less. He makes her practice it numerous times and gets quickly frustrated with her when she doesn’t perform the moves correctly. He should focus on her feelings, not worrying about his wife’s outward appearance. Torvalds’s narcissism makes it difficult for Nora to be happy in their marriage. She likes materialistic things but cares about her marriage more. She forged her signature on a formal document for a loan to travel to Italy to save her husband’s life when he was ill. She shows her love to him by getting this loan in secret and by taking care of their children. What has Torvald done lovingly for Nora? That is the issue; he hasn’t done anything loving or romantic for her. Women need their love shown by spending quality time together, not by getting money to buy gifts. Torvald see’s providing for his wife as sustainable to keep their relationship going. Women like to hear that men love them and to be shown that they are loved through actions. Nora is unhappy with Torvalds’s behavior. Their marriage is for show and spurious in Nora’s perspective, she is unhappy. She feels there is no substance or closeness there. They don’t share intimate details with one another. Torvald is always concerned about work, while Nora is looking after the children or preparing for an event they will attend in the near future. Torvald isn’t aware of Nora’s unhappiness in the most of the play because Nora masks her feelings. She expresses herself when she can’t hold her feelings in about their lack of a marriage anymore. Nora realizes that nothing is going to change in her life and she won’t settle for less. Nora has gone on for eight years doing what Torvald expects of her. She is willing to makes a change for her happiness. Nora begins to tell Torvald that their relationship lacks a good solid foundation based on trust and concern for one another mutually. Nora says you have never understood me. IVe been treated badly, first by Papa and now by you (Ibsen 1167). She has a husband who she hardly knows and won’t accept it. She no longer has the interest in being a wife or a mother. She decides to leave it all to figure herself out. Nora tells Torvald, Duties to myself. I believe that first and foremost I’m a human being, Just as you are, or at least I have to try to become one. I can’t be satisfied with what most people say or with what’s in books. I have to think things through for myself and come to understand them (Ibsen 1168). Nora has decided to leave her old life to discover a new one. She is willing to sacrifice her children for her happiness. What is more realistic? For a woman to have children and be in an unhappy marriage or abandon her children and pursue her desires? Nora pursues herself she no longer has interest in taking care of others. Nora leaving her husband in the 1800’s is unheard of. Women didn’t venture from their roles as a wife and a mother. Ibsen’s play got negative attention, being that his main character did the unthinkable at the end of the play; leave her family for her goals. The play leads the audience to believe she doesn’t need her husband anymore. That she is strong and will discover her needs and aspirations. Nora has gone through a transformation of being an oppressed women to now caring about herself. She has had to make a drastic change to start a new Journey to meet her new goals. I’m proud of Nora for standing up for herself. She went against the grain of all women and explor ed her dreams. How to cite Nora’s Individualism, Papers