Sunday, March 29, 2020
Saturday, March 7, 2020
The Commonly Confused Words Rapped, Rapt, and Wrapped The words rapped,Ã rapt,Ã and wrapped are homophones: they sound alike but have different meanings. Definitions Rapped is the past tense of the verb rap. Rap means to knock, hit suddenly, or criticize sharply. The verb rap also means to talk freely and openly or to perform the highly rhythmic type of popular music known as rapÃ (noun)Ã or hip hop. The adjective rapt means receiving (someones) full attention, being wholly absorbed (in something), or being carried away (with emotion). Wrapped is the past tense of the verb wrap, which means to cover, enclose, or bundle. The phrasal verb wrapped up means to be involved or obsessed with someone or something. Examples After a few shots, Muholi removed the fruit basket from her head and sat down at the kitchen table to load the images into Photoshop. She rapped her knuckles on the table while she waited, fretting out loud that the concept wouldnt work.(Jenna Wortham, Zanele Muholis Transformation. The New York Times Magazine, October 8, 2015)DrakeÃ¢â¬â¢s ascendance happened so instantly it felt effortless, achieved without struggle, almost to the point of seeming unearned. In Thank Me Now, he rapped about how he can relate to kids going straight to the leaguea reference to high-school players so talented they skip college basketball and go straight to the NBA.(Simon Reynolds, How Drake Became the All-Pervading Master of Hyper-Reality Rap. The Guardian [UK], April 28, 2016)The miners were rescued in front of the worlds media and a billion rapt viewers.Jacqueline turned to the waiter and rattled off a sentence in German which brought to Charless eyes a look ofÃ rapt admiration; and the waiter, ev idently understanding quite easily what she had said, turned and hurried away.(Edgar Wallace, The Mouthpiece, 1935)Ã There had always been a shoebox on top of the stove full of baby squirrels rescued from a fallen pine, tenderly wrapped in flannel and bottle-fed into independence.(Pam Durban, Soon. The Southern Review, 1997)She was a fanatic about cleanliness and put out her little bit of garbage wrapped very neatly in yesterdays Christian Science Monitor and tied in a bow with a fresh piece of string.(James Alan McPherson, Gold Coast. The Atlantic Monthly, 1969) Usage Notes You might have rapped Tommy on the knuckles during his maths class in order to direct his attention to quadratic equations. Clearly the word rapped is the past tense of the verb to rap. If you are rapt, you are in a state of unearthly wonderment. It is a state induced by listening to great music, having a religious revelation, or being absorbed by your charismatic lecturer discoursing on the philosophy of Plato. There are also stories of being rapt and in that state being transported from one place to another without any tangible means. Something that is wrapped is something that is securely covered and possibly tied up in a convenient shape for transport or handing over to someone else.(David Rothwell, Dictionary of Homonyms. Wordsworth, 2007) Practice (a) The students listened to the guest speaker with _____ attention.(b) The man who sat in the wagon that moved slowly up the road wore an old quilt _____ around his shoulders and a corduroy cap pulled down over his eyes.(Robert Penn Warren, Christmas Gift. The Virginia Quarterly Review, 1938)Ã (c) Agatha got out of her car and marched up to the Ford and _____Ã on the window. The sallow-faced youth opened the window and demanded, Wot?(M.C. Beaton, As the Pig Turns. Thorndike, 2011) Answers to Practice Exercises: Rapped, Rapt, and Wrapped (a) The students listened to the guest speaker withÃ raptÃ attention.(b) The man who sat in the wagon that moved slowly up the road wore an old quiltÃ wrappedÃ around his shoulders and a corduroy cap pulled down over his eyes.(Robert Penn Warren, Christmas Gift.Ã The Virginia Quarterly Review, 1938)Ã (c) Agatha got out of her car and marched up to the Ford andÃ rappedÃ on the window.Ã The sallow-faced youth opened the window and demanded, Wot?(M.C. Beaton,Ã As the Pig Turns. Thorndike, 2011)
Thursday, February 20, 2020
The market entry strategies for a Logistics firm based in Germany - Essay Example Exporting involves marketing and sales of products which are produced domestically but send to other countries for sales. This is a very traditional method which helps in selling and earning revenue of those products which can be produced in adequate amount in the country. As in exporting the goods are produced in the home country, so the investments related to foreign production are not required (Hisrich 198). In case of exporting, most of the expenses are incurred for marketing. Exports are of two types: a) direct export, and b) indirect export. Direct exports works best when the volume of goods to be exported is small. It involves direct sales of goods to other countries without any intermediaries. While in case of indirect export the export takes place through intermediaries. Control over the product does not remain with the exporter (McDonald, Burton, and Dowling 208; Kotabe, and Helsen 299). Advantages 1. The foreign market and the representatives can be chosen. 2. The trademark, goodwill, patent rights can be protected. 3. Rate of sales is higher. Disadvantages 1. The start-up cost is higher and the risk is also higher. 2. Requirement of information is also higher in case of exports. 3. Marketing the products requires longer time. Licensing Licensing agreements developed by the firm allows the foreign firm to either develop or market the product of the company for a specific time period. In this case, the licensor is the home country provides limited resources and rights to the licensee to the host country. These rights include managerial skills, patents, technology or trademarks for making it possible for the host country to manufacture or market the products (Doing Business Internationally 13). The licensor may take onetime payment, royalty payments, or technology fees. Since this is considered as the mode of entry, so the transference of information in between the licensee and the licensor is strong and the decision of developing the license also strongly depends on the government of the home and host countryÃ¢â¬â¢s governments (Hoskisson 282; Kotabe, and Helsen 301). Advantages 1. Achieve additional revenue for technical knowledge and services. 2. Can be expanded rapidly as not much risks involved. Disadvantages
Tuesday, February 4, 2020
Marriage versus living together - Essay Example 14). There are those who argue that recent research concerning various aspects of interpersonal relations in romantic couples is based on married couples. Individuals who merely cohabitate are not likely to be as effected by the Ã¢â¬Å"increasing emphasis on the role of cognitive factors in marital functioningÃ¢â¬ (Baucom et al, p. 209) References Barich, Bielby, Rachel R., Denise D. "Rethinking Marriage: Change and Stability in Expectations 1967-1994."Ã Journal of Family IssuesÃ 17.2 (1996): 139-169. Web. 25 May 2011. . Baucom, Epstein, Daiuto, Carels, Rankin, Burnett, Donald H., Norman, Anthony D., Robert A., Lynn A., Charles K. "Cognitions in Marriage: The Relationship Between Standards and Attributions."Journal of Family Psychology. 10.2 (1996): 209-222. Print. Glick, Paul. "Marriage, Divorce, and Living Arragements."Ã Journal of Family IssuesÃ 5.1 (1984): 7-26. Web. 23 May 2011. .
Monday, January 27, 2020
The Importance Of Recruitment And Selection Business Essay The following chapter critically reviews relevant literature on the nature of recruitment and selection. This is based on the understanding that there is a key difference between recruitment and selection. The key differences highlighted in the literature are therefore discussed firstly. Reasons why organisations recruit staff are then considered, focusing on why the banking sector has a particular interest. Factors impacting on recruitment and selection are analysed. Recruitment and selection methods are then evaluated. At the end of this chapter, a brief conclusion of the above is concluding whether there are any best practices available for organisations to ensure a good recruitment and selection process. Differences between recruitment and selection In the literature differences between recruitment and selection are identified, though they are the components of one system. For example Taylor (2008) highlights that recruitment is used to attract well qualified applicants. Similarly Pilbeam and Corbridge (2002) state recruitment aims to attract suitably qualified candidates for particular positions. It is the phase directly before selection. Moreover Stredwick (2006) describes recruitment policy as an organisations performance manner, including rules and regulations to be followed. On the contrary, Taylor (2008) indicates that in selection, employer picks out the best and rejects the others from recruitment pool, also known as negative activity. Similarly Edenborough (2005) states selection as a combination of different processes which lead towards the choices of suitable candidates over others. From the above, it can be synthesised that recruitment is basically an attraction of the candidates for the available post, however in selection employer chooses the best available candidate for the post. Nature of recruitment In nature of recruitment, the reasons why organisations recruit staff are discussed. Firstly, an organisation recruits because of an increase in the business volume, which requires more skilful staff to meet the needs and demands of customer. According to the Heraty et al. (1997), that organisations are altered their structures that are built on functions and jobs, to empower individuals with diverse backgrounds, are replacing conventional specialised workers. Secondly, an organisation recruits because it needs a replacement for a leaver or entirely new vacancy occours. Sometimes recruitment is just because of the short of knowledge and pair of hands in an organisation. The empty space is necessary to be filled and it is purely a functional matter. Thirdly, staff turnover is the reason of recruitment in an organisation. Employee turnover is the rate at which an employer gains and loses employees. In other words, it means that how long employees be likely to stay in the organisation. Employee turnover is calculated for individual companies and for their industry as a whole. If an organisation acheives high turnover relative to its competitors, shows that its employees have a shorter average tenure than other organisations. The productivity of an organisation suffers, if there is high turnover because of high number of begainer employees. If the resourcing process of an organisation is not validate to employee right people for the right posts then there is a tendency of people leaving the organisation more often than competitors. It puts very bad impact on business operations because the number of important positions are oftenly empty which delays the completion of operations as well as the new employee takes some time to adjust and thus creates some more problems for organisation. Also organisation invests a huge amount of cost in recrutment process and because of the wrong resourcing policy or wrong selection tool organisation losse it all. It creates the unconsistancy amongst the staff and customers behaviour as well and ultimately effects profit of the organisation. Nothing can be more frustrating to a small business owner or manager than the constant aggravation of employee turnover. High or low employee turnover can be detrimental for organisations. Employee turnover can vary as a result of the industry and location of organisation. For instance, the food service industry typically experiences turnover of 100-300%. The stress of employee turnover is much greater on smaller businesses than larger corporations. There is a valid formula designed for calculation of employee turnover used by many banks all over the world. Total employee turnover cost = Costs of hiring new employees + Costs of training new employees Factors impacting on recruitment and selection There are some following factors impacting on the recruitment selection for an organisations decision making. Economic: The salary packages offered by the organisations to its employees are sometimes resulting in the staff expectations, which create difficulties for organisations. Sometimes the location of an organisation is also contributes to the difficulties in attracting skilled and experience applicants. Conversely, Gribben (1999), state that organisations are cutting back on recruitment despite growing confidence of economy. Demographic: Demographic factors are the most important factors affecting on the recruitment. These factors state (Linda, 2001) that in future the number of older people is increasing and younger people is decreasing. If so, there will be shortage of young skilled workers in future and organisations have to recruit multi-skilled employees and work hard to retain their employees. Social: Linda (2001), states that the appropriate candidate availability can be influenced because of the social blend of the labour group, which probably limit the types of skills required. Various government regulations prohibiting discrimination in hiring and employment have direct impact on recruitment practices. Also, trade unions play important role in recruitment. This restricts management freedom to select those individuals who it believes would be the best performers. However, the recruiters need to be able to understand the process, skills and able to take a systematic approach for the successful process. Recruitment methods The business scenario and job vacancy shows how the employer performs the whole recruitment process, from submitting a recruitment request, to advertising the vacancy and selecting personnel, to closing the recruitment cycle.Ã It consists of three business participants; the candidate, the employer and the external service provider. The candidate is the internal or externalÃ person who is actively or passively looking for a new position.Ã The employer takes both the role of the hiring manager and the recruiter. The hiring manager is the one who has an open position to fill. The recruiter is an HR department employee who helps the hiring manager toÃ find suitable candidates and select and employ the right persons. The employer submits a recruitment request for the positions to be filled. For this recruitment request the employer looks the available talents and thenÃ specifies the recruitment plan, for example which target group should be given first choice, where to advertise , and so on. The most appropriate candidates receive an offer from employer and if the candidates accept the offer, the employer closes the recruitment cycle and prepares for their hiring. There are mainly two types of recruitment methods which a manager can recruit; internal and external recruitment. Internal recruitments: Before going for external resources i.e. advertising, agencies or consultants, it is important to review of an internal recruitment for candidates are made. Internal recruitment is when the business looks to fill the vacancy from within its existing workforce. Most of the private sector employers, as a matter of course, attempt to fill vacancies internally before they consider looking for people outside the organization (Newell 2005; CIPD 2007). According to Fuller and Huber (1998), internal recruitment consists of four methods i.e. promotions from within, lateral transfers, job rotation and rehiring former employees. Similarly, in internal recruitment promotion and transfer of existing personnel or through referrals, by current staff members, of friends and family members. Where internal recruitment is the chosen method, job openings can be advertised by job posting, which is a strategy of placing notices on manual and electronic bulletin boards, in company newsletters and through office memoranda. Referrals are usually word-of-mouth advertisements that are a low-cost-per-hire way of recruiting. In each of these methods the current or former staff of the organisations is made aware of the opportunities available to develop their career wi th some new role. Pros: The vacancies can be advertised using notice boards, newsletters, intranet system etc which is very much cost effective and a big advantage for the employers to retain their experienced employees by providing them these career developing opportunities. Other advantages according to Taylor (2008), includes that the employers dont have to spend huge investment on staff training, the time taken to fill the vacancy is usually much quicker and also enhancing motivation commitment among existing staff. In other words when the existing employees know that they get promotion by doing excelent work or completing the task well and less time than others, which give them motivation to do satisfactory work for organisation, if they need promotion. Cons: Internal recruitment is like an old way that tends to carry out the tasks and work in existing ways of thinking. There are also some strong arguments put forward by some researchers writers against the internal recruitment. Heneman (2000) states that traditional approach of internal recruitment starts with the assumption that the individual from the organisation can be promoted upwards and is capable of fulfilling the required persons post. The managers hence are more attentive to analyse the work of the available working staff suitable for the vacancy and employees start competing each other for the promotion. Because of the internal competition between employees for promotion there are some problems i.e. employees attitude, which can be harmful for the organisations atmosphere and goals. This type of recruitment is useful for smaller organisations but not for bigger ones or MNCs. Because small firms have very limited resources regarding to thier finances so firms hesitate to spend a big amount of finance on external recruitment and traning of employees, even at the cost of putting inappropriate or less experianced person for vacant place. New experience is also need of a time for any organisation in t odays competitive world. Similarly Hirish (2000) highlights that sometimes the promoted person is less capable of handling all the situations required by the post i.e. rehabilitate the failed internal candidates so as to avoid the bad performances, unnecessary resignations and collapse in office relationship. In other words the promoted person usually dont have interpersonal qualities to motivate theose employees who are having some problems as well as keep an eye on their needs thoughts or not a perfect choice for the required post. Internal recruitment does not always produce the number or quality of personnel needed i.e. the organisation needs to recruit from external sources, either by encouraging walk-in applicants; advertising vacancies in newspapers, magazines and journals, and the visual and/or audio media; using employment agencies to head hunt; advertising on-line via the Internet; or through job fairs and the use of college recruitment. External recruitments: External recruitment is when the business looks to fill the vacancy from any suitable applicant outside the business. It is the process of attracting and selecting employees from outside the organization. It depends entirely on the numbers and level of the vacancies. Process of identifying and hiring best qualified candidates, from outside of an organisation, for a job vacancy, in a most timely and cost effective manner. There are numerous different approaches used to attract the external employees, in which some of them are more conservative than the others. According to Taylor (2008) banks use following methods of advertisement of the job posts for external employees; printed media, external agencies, education liaison and other methods i.e. personal reccomendations, telephonic interviews, internet etc When managers deciding, which method to use for recruitment, they also have to consider other methods benefits back draws. Recruiters always think about every option available for t hem and then deciding the best one for organisation. The line managers of any organisation is the most responsible person regarding to recruitment and selection because they are solely responsible for decision making at the initial stages of process, whether or not the applicant fulfil the requirement for the required post (Heraty Morley, 1998). Ã There are some different ways or methods through which line managers and HR department work combinely to recruit employees. Print Media In print media national newspapers, local newspapers, trade professional journals and magazines are suitable for attracting the candidates. Advertisements are the most common form of external recruitment. They can be found in many places (local and national newspapers, notice boards, recruitment fairs) and McKenna Beech (2002) emphasies that this should include some important information relating to the available vacancy (job title, pay package, location, job description, how to apply-either by CV or application form). Because by doing this, only those candidates will apply for the job who are capable of fulfilling the requirements of the organisation and resisting those who are not appropriate. Where a business chooses to advertise will depend on the cost of advertising and the coverage needed (i.e. how far away people will consider applying for the job. The choice of publication depend upon target audiance and Paddison (1990), explains that by doing appropriate advertisement an o rganisation can also acheive the diversity objectives as well. External Agencies In external agencies, job centres are the most important recruitment methods. Job centres are paid for by the government and are responsible for helping the unemployed find jobs or get training. They also provide a service for businesses needing to advertise a vacancy and are generally free to use. This is a good for business because by doing this organisation attracts a big pool of applicants, who fulfil all the requirements of vacant post and organisation has a good choice to pick a right and suitable person. It is also a cost effective way of sourcing candiadtes for interview. Public service agencies enjoy greater exposure to scrutiny than most private sector organisations; therefore, openness and transparency in recruitment and selection practices are crucial. The discussion that follows will identify some of the options available for attracting applicants to the public service job market and discuss strategies for managing the process. The external service provider is an external agent who supports the overall recruitment strategies, the use of various media channels,Ã the assessments of candidates and pre- employment checks. Another way of recruitment is Recruitment agency. These agencies provides employers with details of suitable candidates for a vacancy and can sometimes be referred to as head-hunters. They work for a fee and often specialise in particular employment areas e.g. nursing, financial services, teacher recruitment. When organisation wishes to fill a vacancy of senior post or a highly specialist person required then the organisations have very small choices because of huge expected qualification. For this purpose, managers use Executive search agencies. These agencies charge very high cost for their services. External agencies are very benificial and cost effective way of recruitment for organisations especially for the banks but it is very lengthy and time taking process, which can take more time than usual. And sometimes by resourcing through agencies, organisations are not able to find such a candidate who is perfect for the vacancy. Education liaison Another form of recruitment which is available for employee recruitment is widely used known as education liaison. In this method, managers recruiting people directly from the educational institutions. The most attractive recruitment is of graduate recruitment. The Careers advisers in schools and colleges, and university appointment boards, may be able to provide suitable candidates. According to McKenna Beech (2002), some of the organisations traditionally taken the employees from education institutions have operated many processes to recruit the young people, who are in their final-year or just completed their studies. Many organisations also recruit young educated employees through open days, recruitment fairs, careers fairs and careers conventions. This type of resourcing is normally prove to be very benificial for banks/organisations because they attract those candidates who are familiar with the new ways and techniques of business field and also enthusiastic to develop their carrers. Other Methods There are some others methods too available to mangers for resourcing. One of them isPersonal recommendation. It is often referred to as word of mouth and can be a recommendation from a colleague at work. A full assessment of the candidate is still needed however but potentially it saves on advertising cost. The current employees who is already working for the firm recommends someone they know. This takes place at all levels of business. A director may recommend that a friend should be appointed to the board of directors. In such kind of recruitment diversity of the organisation effected because the candidate reffered through word of mouth is very similar to the employee who reffered him/her, which can be a negative impact on the culture of the organisation. In most of the cases the first major contact between a candidate and an employer is CV or application form. But some organisations use an alternative in the shape of telephone hotline. The organisations publicise their contact numbers for the candidates to discuss the vacancies availability and requirements. This method is normally used for quick response. According to the McKenna Beech (2002), the use of Internet is as a means of recruitment has been mounting now a day. Applicants all over the world use internet to gain the information about the companies, their vacancies and processes of application. This method provide candidates a system of self screening through which they can find out that whether they are suitable for the required position. For instance, Cisco System and Dell are the big examples of recruiting employees exclusively on internet. Some other recruitment methods are television, radio, cinemas, government training schemes, waiting lists, trade union referral suppliers etc Pros: There is a larger pool of skilled people from which the organisation chooses the best suitable for their vacancy. The new employees bring in new ideas for the development of an organisation. Sometimes the new employee has a wider range of experience which is quite worthwhile for any organisation. Cons: Sometimes few methods are ruled out in external recruitment because of the time constraint. The methods of recruitment in such a haste are very few i.e. employment agencies, job centres, personal contacts and local newspaper advertisement. And because of less time to spend on the process, probably the method chosen by the recruiters is not the best suited for the post. Another main issue in external recruitment is the huge volume of applications received by recruiters and the ability to deal with applications screening them effectively e.g. advertisement in newspaper for senior accounts manager or opening a new branch etc Selection methods Recruitment proceeds selection of the candidate. It is considered to be a very crucial stage in which candidates matched to the requirements of the job are selected. There are number of methods and techniques for doing this process i.e. face-to-face interviews, self-test questionnaires, biodata, assessment centres, selection tests etcÃ ¢Ã¢â ¬Ã ¦ This is the stage where successful candidates get an offer of employment. It is often thought that the selection process is very simple in which wanted against offered is matched and then selecting the best fit for it. Overall, it all boils down to choosing the right candidate for the right position and at the right time. Organisations would not want it the other way around. Employee selection applying these high-tech solutions reduces the cost and time spent in recruiting and selecting qualified candidates. According to the Pilbeam Cobridge (2002), there are some different ways of employee selection used by organisations i.e. interview, psychometric testing, work sampling, assessment centres, biodata, graphology and online questionnaire. There is the explanation of some of the selection methods use by the organisations. Interviews The most popular selection technique is the interview either by face-to-face or in front of the interview panel. According to Lewis (1985), although the validity of interview is considered very low but it is still popular for selection. Interview provides the basis of two way exchange of information which is very useful to determine that the candidate is an appropriate person for the organisation and its culture. Shackleton and Newell (1991), highlights the point that every organisation use a interview sample at least once in the selection process. There are mainly two types of interview, structured and unstructured. According to McDaniel et al. (1994), structured interviews are more valid for selection purpose than unstructured one. This can be useful for two way exchange of ideas and information. It helps to improve the quality of decision but (Heffcutt and Arthur, 1994) it is not improving the validity. In unstructured or triditional interviews candidates asked different type of q uestions from which interviewer gets information about applicant in an unsystematic manner and draw the conclusion in his mind whether or not offer the job to applicant. Which may lead the poor selection. There are some very common problems with unstructured interview explains below. The first and the foremost problem is the undue influence or bais behaviour of the interviewer. Interviewer sometimes given the positive or negative response to candidate from his CV/application form or on the basis of similar qualities, background, career, personality or attitude, in other way decision is just on the basis of personal likeness or dislikeness. Sometimes the interviewer is not a fully trained person for conduct an interview and lead to a wrong decision of selection of employee. Poor questioning is also a big problem of these interviews because interviewer ask questions designed for the initial impression of candidates and make a decision way to early about applicants. These problems play a big part while selection process. If the organisation not overcome these problems before the interview process then it lead towards discrimination with applicants or the wrong selection of an employee. Work-based Test When an organisation want to access the abilities and altitude of applicants competence, a work-based test can be used. In this test candidates have to come with the different and logical ideas as a solution of a problem presented infront of the. They required to undertake some typical tasks associated with the job, which shows the quality of their work and on these basis applicants are assessed. For example applicants could be given with the series of theoretical situations and want them to respond at the mean time. This is very similar to the situational interview. Another example is the individual performance of an applicant in a group work, where two or more applicants discuss a specific assignment and then their performance in the discussion is accessed. Work-based tests are very valuable because these tests provides the actual competence and ability of an applicant. In Pakistan, the useage of work-based test is quite low for selection of an employee but it is extensively used ( Lockyer, 1996) in United Kingdom. Biodata When candidates apply for the job, normally they fill an application form or submit a CV or both. From these application forms and CVs managers find a key biographical information about the candidates i.e. age, education, interests, personal history and employment history. In selection particular things of a candidates biographical profile receives higher score then others because these features are most appropriate and required ones for the vacancy. Shackleton and Newell (1991), indicate that only 20% of the organisations used biodata as a selection tool to some extent and only 4% for all vacancies, which is increasing now a day but still very hard (Wilkinson, 1997) to find any evidence of a broader spread of biodata. Sometimes employers have difficulty in choosing the right person for the vacant post in their organisation. Employee selection promises to be a difficult task especially if the current recruitment systems fall below industry standards and fail to meet the companys recr uitment objective. One specific aspect in employee selection is data inquiry. HR system users usually require a list of all the possible candidates for a position in ranking order. Ranking employee selection is achieved using software solutions that efficiently go through application data by matching candidate resumes and other pertinent application documents with the job requirement. An automated system generally ensures an accurate and fast result for various types of employee selection inquiry. According to the Brown and Campion (1994), there are some advantages and usefulness of biodata as a selection tool. It is very useful to screen the large number of applications in response of an advertisement. It is very systematic approach which helps to improve the selection decisions. If referances considered as a selection tool then it is very useful as it provides honesty and moral integrity of applicant which is vital consideration. The big disadvantage of biographical test is the la rge amount of time required for this exercise. Another potential draw back is biasism against certain groups or communities. Another draw back is of referances as a selection device because applicant nominates refrees and the choosen persons are very unlikely to provide any negative assesment. According to Hunter Hunter (1984), generally the strength and consistency of referances are pretty poor but still remains accepted in UK. Employment References This is the third of three selection techniques know as classic trio and the other two are interviews and application forms explained above. Normally organisations asked to shortlist candidates to provide them at least two referances which considered to be an important contribution to selection. This is one of the last tools used for selection of a candidate. Referances are taken for two major purposes, one is to provide confirmation that the information provided by applicant is right and the other is persons character referance. According to the IRS (2002a), approximately 70% of the referances are taken following the decision of selection has been made. Conclusions/summary This review of the literature highlights a range of issues and perspectives for the approach to recruitment and selection of employees which has implications for the Pakistani banking sector. There is not a specific perfect recruitment and selection process available for banks for resourcing of employees. It depends upon the size and culture of the bank that what kind of resourcing policy performs. There are several good ways identified for resourcing of employees. For example the best methods of recruitment in small banks is internal recruitment i.e. promotion of an employee and for big organisation it is it is external recruitment i.e print media, as it has less problems to deal with. And for Selection, interviews are the most common and widely tool used by banks. There are some important findings/issues highlighted from the above literature review. The specific areas through primary research are followings. Rational for the type of recruitment resourcing policies used. The role of stakeholders (HR managers line managers) in recruitment and selection. Identification of key issues experianced. The next chapter outlines and explains the research design adopted to investigate these implications from the perspectives of HR managers with responsibility for recruitment and selection.
Sunday, January 19, 2020
Introduction Accounting standards dominate the accountantÃ¢â¬â¢s work. These standards are being constantly changed, deleted, and/or added to, both in the United States and abroad. They provide practical and handy rules for the conduct of the accountantÃ¢â¬â¢s work. They are generally accepted as firm rules, backed by sanctions for nonconformity. Accounting standards usually consist of three parts: * A description of the problem to be tackled A reasoned discussion (possibly exploring fundamental theory) or ways of solving the problem * In line with decision or theory, the prescribed solution In general, standards, especially auditing standards, have been restricted to the prescribed solution, which has generated a lot of controversy about the absence of supporting theories and the use of an ad hoc formulating approach. The general trend, however, is to include the description and the reasoned discussion, thereby providing a concise, theoretically supported rule of action.The Publ ic Interest Theory was implicit in our examination of standard-setting. The theory suggests that regulation is required to answer the demand of the public for correction of market failures. The theory assumes that the central authority has the best interests of the society as its objective. In other words it does its best to maximize social welfare. The regulation is a trade off between the costs involved and the benefits received by society. The Interest Group Theory takes the view that an industry operates in the situation where there are a number of interest groups (constituencies).Development of standard setting approaches in various countries IASB The International Accounting Standard Board (IASB) is the independent, accounting standard-setting body of the IFRS. The IASB was founded on April 1, 2001 as the successor to the International Accounting Standard Committee (IASC). It is responsible for developing IFRS and promoting the use and application of these standards. The Inter national Financial Reporting Standard (IFRS) was incorporated as a tax-exempt organization in the US state of Delaware.The IFRS also the parent entity of the IASB, an independent accounting standard-setter based in London, England. The IASB has 14 Board members. They are selected as a group of experts with a mix of experience of standard-setting, preparing and using accounts, and academic work. In January 2009, they have their meeting with the Trustees of the Foundation concluded the first part of the second Constitution Review, announcing the creation of a Monitoring Board and the expansion of the IASB to 16 members and giving more consideration to the geographical composition of the IASB.FASB Since 1973, the Financial Accounting Standards Board (FASB) has been the designated organization in the private sector for establishing standards of financial accounting that governs the preparation of financial reports by nongovernmental entities. Those standards are officially recognized as authoritative by the Securities and Exchange Commission (SEC) and the American Institute of Certified Public Accountants. The SEC has statutory authority to establish financial accounting and reporting standards for publicly held companies under the Securities Exchange Act of 1934.Throughout its history, however, the CommissionÃ¢â¬â¢s policy has been to rely on the private sector for this function to the extent that the private sector demonstrates ability to fulfill the responsibility in the public interest. The mission of the FASB is to establish and improve standards of financial accounting and reporting that foster financial reporting by nongovernmental entities that provides decision-useful information to investors and other users of financial reports.That mission is accomplished through a comprehensive and independent process that encourages broad participation, objectively considers all stakeholder views, and is subject to oversight by the Financial Accounting FoundationÃ¢â ¬â¢s Board of Trustees. MASB Standard setting in Malaysia entered a new era with the Financial Reporting Act 1997 which established the Financial Reporting Foundation (FRF) and the Malaysian Accounting Standard Board (MASB) in 1997. The Financial Reporting Act 1997 was gazette on 6 March, 1997.The FRF is established under the Financial Reporting Act 1997 (Act). The FRF comprises representation from all relevant parties in the standard setting process, including preparers, users, regulators and accountancy profession. The FRF, as a trustee body, has responsibility for the oversight of the MASBÃ¢â¬â¢s performance, financial and funding arrangements, and as an initial source of views for the MASB on proposed standards and pronouncements. It has no direct responsibility with regard to standard setting. This responsibility rests exclusively with the MASB.The aims of the MASB are to implement an efficient, effective structure and Ã¢â¬Ëdue processesÃ¢â¬â¢ for the development of MAS B Standards, a conceptual framework and other forms of authoritative guidance. Other than that, MASB also aim to pursue the development of MASB Standards, a conceptual framework and other authoritative guidance on a basis that recognizes that users of financial statements are the primary customer, so that those users are better able to make economic decisions. The MASB established a committee in May, 2002 known as the Issues Committee to replace its predecessor, Interpretation Committee.The change in name reflects the expanded scope of the committee which, in addition to dealing with interpretations of approved accounting standards, also deals with other accounting related issues where there are no existing accounting standards. The committee, hence, is responsible for reviewing accounting issues that have received or likely to receive different views in interpretation and to provide recommendations to the Board for decision. Standard setting approaches MFRSs are full convergence, w hich are copy word by word of IFRSs issued by the IASB except for the terminologies.The due process of MFRS Framework aligns the MASB's due process timeline to that of the IASB with the aim of putting the new or amended standards in place for adoption and application within a timely manner. This is to ensure, that the effective date of the new or amended standards will be the same as that of IFRSs. * Stage 1: MASB seeks public comment on IASB's draft technical pronouncements. The IASB's draft technical pronouncements include Discussion Paper, Exposure Draft and Request for Views.MASB will disseminate the IASB draft pronouncements together with an Invitation to Comment to local constituents by publishing on MASB website a Ã¢â¬Å"Comment OnlineÃ¢â¬ feature and sending a copy of the documents to the relevant authorities, professional bodies, accounting firms, industry related associations, and public listed companies. The due date for the public to submit comments to MASB is usually one month before IASB's comment deadline so as to allow MASB Working Group and the Board a reasonable time to consider the comments received before making a submission to the IASB.In addition, public forums may be organized if these IASB draft pronouncements represent major change or shift from current practice. * Stage 2: Deliberation at the Working Group level on IASB's draft pronouncements The IASB's draft pronouncements will be deliberated in WG meetings and to provide comment / recommendation to the issues raised in the draft pronouncements for the Board's consideration. The WG will also consider public comments received and their recommendations on those comments for the Board's consideration. Stage 3: Deliberation at the MASB (the Board). The public comments received, Working Group's comments and recommendations will be tabled at the Board for deliberation and consideration. During the discussion, the Board will consider all comments received and thereafter, a comment letter to the IASB will be prepared and submitted to IASB accordingly. * Stage 4: Issuance of Standard by IASB. Following publication of the final standard by the IASB (IFRS), the Working Group will deliberate on the changes made, if any, from the draft pronouncements.Thereafter, the Working Group's views or recommendation, including possible issues/ implications, if any, of the IFRS will be presented to the MASB for consideration. * Stage 5: Issuance of standard by MASB. After due deliberation by the Board, copy of the MFRS (word-for-word with IFRSs) would be presented to the FRF members for their comments before it being issued as approved accounting standards in Malaysia. Ethics of standard setting It is likely that if there was no regulation, markets would cease to work.Have two motivations, there are the external motivation Ã¢â¬â the enforcement approach, a regulator, and the internal motivation Ã¢â¬â the people will want to keep their promises and honour contracts. The more et hically that people behave, the greater reduction there would be in required regulation. One way to look at it would be, for example, if all professionals acted in their own self-interest, ignoring the clientsÃ¢â¬â¢ recognition, in due course clients would become very suspicious.Regulations would grow and professionals would be very carefully looked into. However, if professionals can be trusted to act in a trustworthy way, then it could be a win-win situation. It goes beyond adopting a code of ethics. Professionals would have to act professionally towards the client. Professionals must become transparent in their actions so clients will have full trust in their actions. Certainly professionals have self-interest and this must be taken into account.As some regulation would be required, what about standard setting from an ethical point of view. When accountants are dealing with clients there is very likely an imbalance of accounting knowledge between the two but accountants should not impose their own values on the client. Issues involved in standard setting The standard setting bodies have an ethical issue because the standards set for clients, those who manage the companies, have a third dimension, as the managersÃ¢â¬â¢ interests often conflict with those of the public.Our case is the investing public, the third party. Now investors needs are well served by good disclosure of material. But we have seen in our previous modules that standards that are beneficial to the investor often impose burdens on the managers, volatility. Whose interests should the regulator serve. Duska & Duska, stated the accountant and the regulator can easily reconcile the obligations by acting with integrity. In the long-run the interests of the public and the investor merge.The answer comes across clearly in Duska & Duska. They argue that the profession has an obligation to Ã¢â¬Å"look out for the best interests of the client, avoiding the temptation to take advantage of the clie ntÃ¢â¬ ; this quotation implies the public interest theory. It is important to consider the debate between what is termed Ã¢â¬Å"rules-basedÃ¢â¬ and Ã¢â¬Å"principle basedÃ¢â¬ accounting standards. It is important to consider the debate between what is termed Ã¢â¬Å"rules-basedÃ¢â¬ and Ã¢â¬Å"principlebasedÃ¢â¬ accounting standards.Considering EnronÃ¢â¬â¢s actions they were strictly based on rules actions of GAAP. They were not based on Ã¢â¬Å"principlesÃ¢â¬ There is a difference. Rules attempt to put down detailed directions to be followed, and it is difficult to cover all situations. The Principle indicates the intent we have in mind and the course we follow. It is putting into effect the real ethics we wish to pursue. Accounting issue in Islamic Financial InstitutionAccounting standards are developed in various parts of the world and are predominantly developed based on the environment of local jurisdiction and typically the behavior of the large and most often multinational corporations would be subjected to these standards. MASB has also appointed a Working Group to develop a framework of accounting concepts based on the ShariÃ¢â¬â¢ah principles to assist the Board in developing financial accounting and reporting standards for the recognition, measurement and disclosure of transactions based on ShariÃ¢â¬â¢ah principles which would facilitate the development of the Islamic Capital Market.The main characteristics that influenced the environment of an Islamic bank in the Shari'ah and this has to be central in the development of accounting standards for Islamic banks, which was not part of the consideration of the international standard setter. There are major differences between Islamic banks and Conventional banks that impose difficulties for Islamic banks to comply with standards not actually meant for them. Appropriate mechanism to track the risks and rewards other than a financial reporting system, which Islamic financial instituti on were deprived of prior to AAOFI.Foundation of setting standards for Islamic financial institution is on the basis of filling in a vacuum that conventional standards have left void. AAOFI did not reject existing GAAP standards except in cases where such principles conflict with Shari'ah principles. It is clearly stated in AAOFI's Statement of Objectives that Ã¢â¬Å"it is natural that there should be differences between objectives of other bank and objectives of Islamic bank. The kinds of issues addressed by AAOIFI Standards. Substance over formThe framework of accounting standards by IAS and other generally accepted accounting standards require that the accounting information is presented according to the substance and economic reality and not merely the legal form. Requiring and entity that enjoys a greater of economic benefits of an asset to report the asset in their balance sheet appeared in a leasing contract in consistent with this postulate. Apparently this characteristic of accounting principles is in violation of Shari'ah and hence is not recognized by AAOIFI standards.Prudence Prudence is a concept that appears in the IAS Framework of Accounting Standards and promotes the need to be cautious in overstating asset or profits especially in the business world. AAOIFI Standards are silent on this characteristic of financial reporting. The reason that can be attributed to the silence which must not be read as an objection, is that such a principle conflict with the very idea that financial reporting in Islam should focus on fair reporting of an entity's financial position. AAOIFI Standards are silent with regards to the concept of prudence and leaves it to the best discretion of the preparers of financial statements to compile with their local regulatory requirements. Asset Valuation Typical measurement basis is the historical cost measurement simply because this is the most commonly adopted by the enterprises in preparing their financial statements. Isla mic bank's financial report the measurements of asset would also very much be influenced by the terms of the Shari'a contract underlying the product.AAIOFI's standard requires the bank to value the asset in their balance sheet on the basis of cash equivalents value. The other aspects where AAIOIFI standards depart from conventional practice is on the treatment of asset in an Ijarah Muntahia Bittamleek contract. IMBT is an innovation is in fiqh to satisfy the financial lease contracts in conventional practice. IMBT is a combination of two contracts which runs sequentially one after the other and the reporting of the financial transaction as mentioned in AAOIFI's FAS 8, IMBT would reflects
Saturday, January 11, 2020
Autism: Ã¢â¬Å"Man is by nature a social animal; an individual who is unsocial naturally and not accidentally is either beneath our notice or more than humanÃ¢â¬ ¦ Ã¢â¬Å"(Aristotle, 328 B. C. in Aronson, 1995). We have been designed from birth to need and trust and socialize with one another in various ways. Yet, why is it so difficult for some but not for others. I have a four year old Autistic son that also has severe developmental delays due to prematurity and birthing complications. There are days that he gets frustrated at not even being able to communicate basic needs or just wants to be in his own world, left to his own device.That for anyone is rough, but knowing I am his mother makes it worse. Social interaction is such an important part of growing as not only a human being, but also for the brain. Even from the beginning of time man has leaned on the premise of needing that companionship and contact with the world around them. Being from the South, you are instructed and taught from day one to be cordial and have social interactions regularly with others in and out of your class, race, or religion. But what if you cannot convey and relate to the social customs? Does that mean you are to forever be labeled as a deviant, eccentric, or antisocial?If it is funding that you have mental issues you donÃ¢â¬â¢t discuss them or you are forever looked at as a child. Traditionally, that means that these individuals were ostracized, stigmatized and even eliminated for the good of the whole, as the compromised the very fabric of society by proposing to build a group of individuals, somewhat like a cult, that were interconnected forever( Aronson, 1995). Animal test subjects have been well conditioned to run through mazes or pressed bars for food or to avoid electric shocks administered by researchers; likewise humans comply within similar consequences.Furthermore, it has also been documented that behavior motivated by external consequences is relatively short-li ved, ceasing with the consequence is no longer available (Thompson, & Iwata, 2001). This can even be seen when a mother is watching her children, and then steps out. The children understand to behave in both situations and the latter situation may have a punishment if that direction is not followed properly. Yet, as soon as the mother steps out, the non-conformist child will misbehave, only because of the punishment, even if the other sibling(s) is behaving themselves properly.Something stops a child like this from comprehending why this is wrong and what is truly acceptable. This may be in part to some issues with the connections to neuro-transmitters or lack thereof. Often times these children are not even motivated by reward systems, they will continue to misbehave at some point even when the mother returns, almost challenging her. Therefore, they will never be in society as an integral part, but as part of the problem. This, however, is not true for Autistic children.They wish t o be the same, but again, the neuro-transmitters misfire and do not allow for them to Ã¢â¬Ëcompare apples to orangesÃ¢â¬â¢. In 1943 Leo Kanner named such children as, socially withdrawn. He outlined the social disorder in 11 boys that he studied as an Ã¢â¬Å"autistic disturbance of affective contactÃ¢â¬ because of their apparent disinterest in other people and inability to be socially influenced (Kanner, 1943, in Frith, 1989). In spite of this, in 1984 the American Psychiatric Association, deemed this as a pervasive disorder, among others, and now it is simply known as Autism (APA, 1984).Over the past ten years Autism has been redefined again as the most complicated neurological disorder affecting the central nervous system of a large number of people. It is also the most confusing and pervasive of the developmental disorders as little is known for a cause, there is no cure, and treatments vary among individuals (Frith & HappeÃ¢â¬â¢, 1994). The typical stereotype of an indi vidual with autism describes a withdrawn, mute child with an inverted gaze engaged in repetitive activities or self-stimulatory behaviors, ASD or Autism Spectrum Disorder, ranges from severe to very mild(Mesibov & Burack, 2001).Yet, the ones that have such disorders, have recently been labeled as Autistic due to lack of social prowess and extreme knowledge and fixation on one profession. These subsets of children can often times appear normal within the first year but start regressing in knowledge and skill, or not improving or gain skills at all. Eventually, one can build a wall to even keep family out, or fixate on something so hard it becomes an obsession or routine that if stopped could be mentally, physically, and socially detrimental(Kennedy & Shukla, 1995).Although, it is also important to remember that individuals with ASD are not totally withdrawn, socially and may even interact from time to time, but this can be limited. I know as more going from hearing your child say Ã¢â ¬ËI love youÃ¢â¬â¢ and hug often, to once or twice week is difficult. The first time my son ran and hugged me and looked me in the eye was very emotional for me, but he did not understand. This leads to my next point: cognition. As I said before many ASD children do not understand emotions or are seldom empathetic. They may ask questions about the emotions you are showing but do not fully understand what you are telling them.This again is due to a misfiring of neuor-transmitters. That is why so many ASD children really like Thomas the Train. He teaches them emotions and what the facial expressions mean. My son now understand crying, anger, and excitement. Therefore, while they have a social desire, the interference in the cognitive system proves to be the main problem (Happe, 1999; Baron-Cohen, 1985; Dodge, 1980). Cognitive processing systems such as motivation, decision making and emotions are believed to be prompted when one responds to stimuli.These stimuli characterize the d ifferent mental states (desires, imagination, emotions, etc. ) that psychologists believe to be the cause of ones actions. Yet, without appropriately developed social cognition individuals have difficulty forming social relationships with others and this is evidenced by poor social behavior (Baron-Cohen, 2000). A study was designed to test this theory, and it found that 64% of individuals with ASD have first degree relatives with more extensive mental health issues, like major depression, and 39% had other social phobias (Smalley, et al, 1995).That being said, one can conclude that unlike other studies, ASD maybe a genetic disease mutated from other mental illness issues. This would also help the justice system that was once scandalized by improprieties of inmates due to a lack of knowledge. By understanding what type of ASD and the severity one can simply argue mental illness? Now I am not condoning every run out on the crazy defense, but if the shoe fits, why would we just put som eone who is innocent into the system as done years ago.Think of the good old days when one could be simply thrown in jail for no id or not talking but if you have a mentally ill or developmentally disabled individual, and you put them in an environment that is rough, harsh, and not anything like their routine, it is no wonder why we had so many inmate suicides and still do inmates slip through the cracks continuously. But we may never see that happen due to public opinion. We as a society look at children with developmental delays or ASD as animals. I find it sickening. Or we think the parent does not discipline the child.Yet, due to lack of cognitive understanding, it would gain to reason why one does not benefit from punishing this type of child; they simply do not understand and are eager to please. Some may disagree but my sonÃ¢â¬â¢s doctor actually explained to us that anything more than timeout/cool down period would be over his head. Even taking away toys would be ineffecti ve. So the next time you are at a store take that into consideration. Now that I am off of my soapbox consider this: The acceptance of inadequacies in the empathizing process of individuals with Autism can offer more tolerance of the behaviors they display.Thus, they are not capable enough to calculate the conduct of others readily and we would expect an avoidance of impulsive situations. This is apparent in the outbursts and obsessive behaviors these individuals show in an effort to control and maintain routines in their environments (Dodge, 1980). Now some can point to sensory issues, needing to feel secure through various methods close to the five senses. A lot of the Autism community says that therapies for these aversions and how to cope will cause the ASD patient to understand, control, and manipulate to achieve a normal life.Nevertheless, the sensory struggles coincide with socio-emotional issues and are noted as early as infancy. Hence, the various longitudinal studies of in fants later diagnosed with autism show empty eye gaze, poor response to name, aloofness, reduced looking-at-faces, and deficits in directing attention (Mottron & Burack, 2001). And while it appears that these skills, as well as impairments in early social-communication skills and joint attention are present long before speech and mind blindness develop (Koegel & Mentis, 1985; Shanker, 2004; Wing & Gould, 1979).Additionally, developmental theories on attachment and affective responsiveness have suggested that children with impaired social emotional relating in infancy will not develop appropriate social understanding and as a result social interaction and communication skills will suffer (Kennedy & Shukla, 1995). In spite of that, Supporters of the theory of mind suggest that people with Autism lack the ability to comprehend thoughts and experiences that occur outside of themselves (Happe, 1991).While I can see that, since my son gets stuck on one thing that happened and will talk ab out it for months as though it happened yesterday, the difficulty in understanding the mental thoughts of others often results in bizarre communication patterns (Happe, 1999). Thus, blindness and a clear lack of meeting of the minds, also appears to interfere with the ability to identify with others or to understand another person's point of view (Shanker, 2004). So do we really know what people with Autism need, or are we just grabbing air in a world full of marshmallows? BibliographyAmerican Psychiatric Association DSM-IV (1984). Diagnostic and Statistical Manual of Mental Disorders (4th ed. ). American Psychiatric Association. Aronson, E. (1995). The social animal. (7th ed. ). New York, NY: W. H. Freeman and Company. Baron-Cohen, S. (1985). Mindblindness: An essay on autism and theory of mind. Cambridge, Massachusetts: MIT Press. Baron-Cohen, S. (2000). Theory of mind and autism: A fifteen year review. In S. Baron-Cohen, H. Tager-Flusberg ; D. J. Cohen (Eds), Understanding other minds: perspectives from developmental cognitive neuroscience (pp. 3-20).Oxford: Oxford University Press. Dodge, K. (1980) Social cognition and children's aggressive behavior. Child Development. 51, 162-170. Frith, U. (1989). Autism: Explaining the enigma. Oxford: Basil Blackwell. Frith, U. , & Happe, F. (1994). Autism: Beyond Ã¢â¬ theory of mind. Ã¢â¬ Cognition, 50, 115-132. Happe, F. (1991). The autobiographical writings of three asperger syndrome adults; problems of interpretation and implications for theory. In U. Frith (Ed. ), Autism and asperger syndrome. Cambridge: Cambridge University Press. Happe, F. (1999). Autism: cognitive deficit or cognitive style.Trends in Cognitive Sciences, 3, 6, 216-222. Kennedy, C. H. , & Shukla, S, (1995). Social interaction research for people with autism as a set of past, current, and emerging propositions. Behavioral Disorders, 21, 21-35. Koegel, R. L. , & Mentis, M. (1985). Motivation in childhood autism: Can they or won't they? Journal of Child Psychology and Psychiatry and Allied Disciplines, 26, 185-191. Mesibov, G. B. , Adams, L. W. , ; Klinger, L. G. (1997). Autism: Understanding the disorder. New York, NY: Plenum Press. Shanker, S. (2004). The roots of mindblindness.Theory ; Psychology, 14, 5, 685-703. Smalley SL, McCracken J, Tanguay P. (1995). Autism, affective disorders, and social phobia. American Journal of Medical Genetics, 27, 60, 1, 19-26. Thompson, R. H. , ; Iwata, B. A. (2001). A descriptive analysis of social consequences following problem behavior. Journal of Applied Behavior Analysis, 34, 169-178. Wing, L. , ; Gould, J. (1979). Severe impairments of social interaction and associated abnormalities in children: Epidemiology and classification. Journal of Autism and Developmental Disorders, 9, 11-29.