The Effects of Credit Management on the Profitability of Manufacturing Companies in Nigeria (a Case Study of Guiness Nigeria Plc

Introduction The expansion of International Trade and the accessibility to foreign stock and debt market has given rise to an increase debate on whether or not there is need to be a global set of accounting standards. As companies compete globally for scarce resources, investors and creditors as well as multinational companies are required to bear the cost of reconciling financial statements that are prepared using national standards. It was argued that a common set of practices will provide a â€Å"level playing field† for all companies worldwide (Murphy, 2000).IFRS are standards and interpretations adopted by the International Accounting Standards Board (IASB). They include: International Financial Reporting Standards (IFRS), International Accounting Standards (IAS) and interpretation originated by the International Reporting Standards Interpretation Committee (IFRSIC) (Oyedele, 2011). IFRS represent a single set of high quality, globally accepted accounting standards that c an enhance comparability of financial reporting across the globe.This increased comparability of financial information could result in better investment decisions and ensure a more optimal allocation of resources across the global economy (Jacob and Madu, 2009). Cai and Wong (2010) posited that having a single set of internationally acceptable financial reporting standards will eliminate the need for restatement of financial statements, yet ensure accounting diversity among countries, thus facilitating cross-border movement of capital and greater integration of the global financial markets.History and Development of IFRS Globalization of capital markets is an irreversible process because of the development and growth in science and technology; there are many potential benefits to be gained from mutually recognized and respected international accounting standards. To bridge the gap between accounting standards among countries, the International Accounting Standards Committee (IASC) w as founded in 1973 by a group of professional accounting practitioners.The IASC was to formulate uniform and global accounting standards aimed at reducing the discrepancies in international accounting principles and reporting practices. In this light, the International Accounting Standards Committee (IASC) was established. Since its establishment the IASC has actively been championing the uniformity and standardization of accounting principles for over two decades (Carlson, 1997). In April 2001, the International Accounting Standards Board (IASB) took over the setting of International Accounting Standards from the International Accounting Standards Committee (IASC).Thenceforth, the IASB updated the already existing International Accounting Standards and referred to them as International Financial Reporting Standards (IFRS). Many of the standards forming part of IFRS are known by the older name of International Accounting Standards (IAS). IASs were issued between 1973 and 2001 by the Board of the International Accounting Standards Committee (IASC). In Nigeria, adoption of IFRS was launched in September 2010, by the Honorable Minister, Federal Ministry of Commerce and Industry, Senator Jubril Martins-kuye (OFR).The adoption was organized such that all stakeholders use the IFRS by January 2014. The adoption was scheduled to start with Public Listed Entities and Significant Public Interest Entities who are expected to adopt the IFRS by January 2012. All Other Public Interest Entities are expected to mandatorily adopt the IFRS for statutory purposes by January 2013, and Small and Medium-sized Entities shall mandatorily adopt IFRS by January 2014. The Importance of IFRSThe adoption of uniform standards cut the costs of doing business across borders by reducing the need for supplementary information. They make information more comparable, thereby enhancing evaluation and analysis by users of financial statements (Adekoye, 2011). Users become more confident of the inf ormation they are provided with and presumably, this reduces uncertainty, promotes an efficient allocation of resources and reduces capital costs (Ahmed, 2011).Esptein (2009), emphasized the fact that universal financial reporting standards will increase market liquidity, decrease transaction costs for investors, lower cost of capital and facilitate international capital formation and flows, various studies conducted on the adoption of IFRS at country level indicated that countries that adopted IFRS experienced huge increases in direct foreign investment (DFI) flows across countries (Irvine and Lucas, 2006). Cai & Wong (2010),in a study of global capital markets demonstrated that capital markets of countries that had adopted IFRS recorded high degree of ntegration among them after their IFRS adoption compared with the period before adoption. In a study on financial data of public listed companies in 15 member states of the European Union (EU) before and after full adoption of IFRS i n 2005, Chai at al (2010), found that majority of accounting quality indicators improved after IFRS adoption in the EU. The IFRS enhances comparability and transparency of reported results, easier cross-border stock exchange listings and foreign capital funding, additional and better quality financial information for shareholders and supervisory authorities, improved quality and efficiency of financial report.Impact of IFRS As a major change program, IFRS conversion affects many parts of our organization, including systems, processes and the wider business. Therefore ultimately, IFRS success depends heavily on how effectively accountants around the world are informed about the process and their willingness to adapt to or embrace change. IFRS could have a positive or negative impact on the financial statements. For example, recognition of interest income using effective interest method may negatively impact profitability as some of the credit related fees will form part of effective interest rate computation.However, the extent of the impact usually depends on the accounting policies adopted. The impact of IFRS transcends beyond accounting and financial reporting contrary to general misconception. Beyond finance, strategies, processes, people and systems will also be impacted by the conversion exercise. The following are some of the areas in which IFRS can affect our businesses: Systems and processes: IFRS will definitely change the overall presentation and contents of financial statements e. . more disclosures is required in the financial statements; consequently, there is a need to make amendments such as reconfiguration of existing systems, interface and mapping changes, changes to the chart of accounts etc. to generate IFRS compliant financial statements. Performance Management: Performance measures are going to be significantly affected as the effective interest calculation of income, impairment calculation and fair-valuation calculation will impact perfor mance results.Staff whose performance targets have previously been set using Nigerian GAAP calculations will need to be informed of the impact of IFRS on attaining these targets on their remuneration and the amount of effort that would be required to meet these targets under IFRS. Management reporting: Extensive impact on management reporting resulting in new forms of analysis and reporting. People and Communication: The conversion to IFRS will create a competency and knowledge especially financial control staff. However extensive training and communication plans will be in place to bridge those gaps.In addition to the aforementioned, the conversion exercise may have impacts on a large number of departments outside Finance including Human Resources, Information Technology, Risk Management, Business Development, Internal audit etc. For example, HR personnel will need to understand the impact of IFRS on staff loans. Some Key Risks Associated With Converting to IFRS Some of the key ris ks management should be aware of include: Lack of effective communication of the impacts of change to stakeholders the board, audit committees, investors and analyst, the impacts on internal controls and the related processes.Excessive costs and work levels resulting from ineffective planning and the inability by management to conclude and certify on the design or effectiveness of the company’s internal controls over financial reporting. Enforcement of Financial reporting Standards in Countries around the Globe and the Key Difficulties Faced in the Implementation of the Financial reporting Standards NIGERIA There are a number of institutions and agencies in Nigeria which provide guidelines that determine what information, and in what format such information, should be included in financial reports.Such institutions are the Institute of Chartered Accountants of Nigeria (ICAN), the Association of National Accountants of Nigeria (ANAN), the Central Bank of Nigeria (CBN), Nigeria n Accounting Standards Boards (NASB). Now the Financial Reporting Commercial (FRC), National Insurance Commission (NAICOM), Security and Exchange Commission (SEC), and Corporate Affairs Commission (CAC). These institutions are ready to give up on Nigeria’s GAAP and adopt IFRS from 2012 (Hassab, Epps and Said, 2001; Iyoha and Jimoh, 2011). Mukthar, (2009) sserts that, there is no better time than now to contribute to the debate for the need and feasibility of adopting the IFRS as a financial reporting framework in Nigeria. This is due to the pronouncements by the banker’s committee (a committee of Managing Directors of banks and the Nigerian Stock Exchange (NSE) to the effect that banks and all listed companies should prepare financial statements in accordance with the IFRS. Such pronouncements were made considering that complying with IFRS will facilitate transparency and lead to more disclosure in financial statements which will be useful to stakeholders, especially f oreign stakeholders.IFRS-based financial statements stand to have added advantage in their business relationships with their correspondent banks, multilateral institutions and international investors. Companies that prepare IFRS-based financial statements are also expected to get some boost in their rating. Adoption of the IFRS in Nigeria commenced in January, 2012. UNITED KINGDOM The enforcement of IFRS is under European Enforcement Coordination sessions (EECS) and Committee of European Securities Regulations (CESR). In the UK the body responsible for enforcement of the IFRS is the Financial Reporting Review Panel.Rolf (2010) suggests in through the CESR Annual Reports in 2010 that harmonization and the enforcement of the IFRS in Europe facilitate an efficient single capital market in Europe within the context of evolving EU legislation. UK’s Department of Trade and Industry (DTI) has since pronounced that publicly traded companies in UK should apply the International Accoun ting Standard in their individual financial reporting and that all EU listed companies were required to prepare their consolidated Financial Statements under IFRS effective from January, 2005 (ICAEW, 2006’ AECA, 2010 and Rolf, 2010).PricewaterhouseCoopers (2009) has confirmed that the U. K has since complied with the requirement; also small companies (SMEs) were required to report under IFRS effective from January 1, 2012. TURKEY Sigma, (1995) and Sigma and Hosal, 2005) observed that in 1980, a series of economic decisions following the International Monetary Fund’s (IMF) recommendations were taken to reduce the inflation rate, increase production, and support importing activities. In the reconstruction period starting in the early 1980s, Act No. 499 was put into effect in 1981 by the Parliament to prepare the grounds for establishing the Capital Markets Board (CMB). BRAZIL Brazil is incorporating its accounting standards with the IFRS. According to UNCTAD (2008), the main institutions leading the convergence process are the Brazilian Securities Commission (CVM), the Brazilian Institute of Independent Auditors (IBRACON), and the Central Bank of Brazil. A number of developments have recently advanced the country’s progress towards IFRS.The Central Bank of Brazil announced that as from 2010 all financial institutions under its supervision will be required to prepare their consolidated financial statements in accordance with IFRS. UNCTAD (2008) also reports that the Brazilian Securities and Exchange Commission has promoted efforts by companies listed in capital markets in Brazil to gradually adopt IFRS. For example, the CVM has been working more closely with IBRACON to accelerate convergence with IFRS and regulatory members.Companies listed on Sao Paulo Stock Exchange’s New Market are required to provide financial statements prepared in accordance with IFRS or to the US-GAAP, in addition to those that are prepared under Brazilian accou nting standards. The Committee of Accounting Pronouncements was set up in Brazil, whose objective will be to achieve full adoption of IFRS in the country. INDIA Ravindra and Shrikhadi (2010) observed that there is a growing international consensus on the International Financial Reporting Standards as acceptable standards for assessment of the financial health of a company across the globe. Based on the recommendations of the core group set up to facilitate IFRS convergence in India, its Ministry of Corporate Affairs (MCA) announced the approach and timelines for achieving convergence with IFRS. Also the Institute of Chartered Accountants of India (ICAI) commenced the process of issuing IFRS equivalent accounting standards. ICAI stated that for companies with exposure in European markets through equity or debt, transparency on IFRS is essential to cheap capital and hence, the proactive approach. ICAI set a time line of 2011 for compulsory switch over to the new standards.SOUTH AFRICA The South African Institute of Chartered Accountants (SAICA), the Johannesburg Stock Exchange (JSE) and the Accounting Practices Board (APB) of South Africa has recognized the need to be part of a global economy with respect to financial reporting. Local accounting standards in South Africa have been harmonized with international accounting standards since 1993. In February 2004, a decision was taken by the APB to issue the text of IFRS as South African statements of GAAP without any amendments (SIACA, 2006).The reasons for the ongoing harmonizing and the issuing of the text of IFRS as South African statements of GAAP were: for South African companies to attract foreign investment, to provide credibility to the financial statements of South African companies in the global market, and to do away with the need for dual listed entities to prepare financial statements in accordance with more than one set of accounting standards (Deloitte, 2006). ZIMBABWE Zimbabwe faces a challenge of h igh inflation that is affecting the wholesome application of the IFRS.The Institution of Chartered Accountants Zimbabwe (ICAZ, 2010) recommends that the IFRS should be in full application by end of 2010. Although Zimbabwe has economic challenges, the Zimbabwe Stock Exchange it has said that IFRS compliance is mandatory to all listed companies in its Stock Exchange (Tom, 2010). Currently, a ZSE panel of experts is responsible for checking IFRS compliance. It encourages accurate and correct presentation of companies’ financial accounts including historical data and internationally comparable balance sheets and disclosure.This makes it easier for investors, including external investors. The ZSE (ZSE, 2010) added that IFRS for SME is compulsory which was expected to commence by January, 2011, also the local GAAP which was based on the 1998 version was expected to translate into IFRS. The local tax authority has yet to adopt or convergence plans of tax reporting to the IFRS. KENYA Kenya is one of the earliest countries to adopt the use of the IAS and IFRS in 1999. UNCTAD (2008) confirms that over the years, Kenya has developed a wealth of experience in the use of IFRS, which provide useful insights in he development of strategies by International Standards of Accounting and Reporting (ISAR) to aid other countries in the implementation of IFRS. There a lone stock market in Kenya, the Nairobi Stock Exchange, in which the shares of about 50 companies are traded. In addition to these listed companies, there is also a sizeable number of companies which are either multinationals or companies owned privately by the nationals, as well as a large number of small and medium-sized enterprises (SMEs). In terms of financial reporting, all the companies are required to prepare financial statements based on IFRS.In most cases, however, SMEs would prepare financial statements for use by the tax authorities or by the banks for purposes of accessing credit. Other public inter est companies such as banks, insurance companies, cooperative societies and non-governmental organizations also prepare accounts in accordance with IFRS (Caroline, 2010). UGANDA The Institute of Certified Public Accountants of Uganda (ICPAU, 2009) stipulates that Uganda has adopted IASs, SIC IFRSs and IFRIC without amendment since 1998. All openly accountable bodies are obliged to present their financial statements in compliance with full IFRS.In additional, Uganda has instructed on the application of IFRS for SMEs at the beginning of 2010. Uganda Security Exchange (USE, 2010) directed that all foreign or national companies listed on the stock exchange to comply with IFRS when the time of reporting was due. TANZANIA According to Tanzania’s National Board of Accountants and Auditors (NBAA, 2009), Tanzania shifted to IFRSs, IPSASs, and ISAs with effect from July, 2004. In that effect, compliance required all preparations of financial statements to be in accordance with the IFRS s no matter the size of the firm.Pacter (2010), observed that publicly accountable entities were required to use full IFRS including the entities that offer shares to the public, financial institutions such as banks, insurance, pension funds, mutual funds, security brokers or dealers. Also, entities that have essential public service such as utilities; and non-publicly accountable entities are permitted to use the IFRS for SMEs. In that case, all bodies using IFRS for SMEs should apply those pronouncements as issued by the IASB in full and without modification. CANADAIn January 2006, the Accounting Standards Board (AcSB) adopted a strategic plan for embracing IFRSs across the whole country for all public companies and other profit-oriented enterprises that are responsible to large or diverse groups of shareholders in Canada. From that time, AcSB proposed on its section 1506 to house the approval of IFRSs (Peter, Michael, and Ken, 2008, Deloitte, 2011). Peter (2008) recommended that: â€Å"The AcSB has recently confirmed January 1, 2011 as the changeover date to which IFRSs was supposed to replace current Canadian Standards and interpretations as GAAP† UNITED STATES OF AMERICAAICPA (2011) asserts that as far as the USA is concerned; the enforcement of IFRS has taken the following forms. From 2001 to 2004 USA has made effort to implement IFRS. In 2005; The Securities and Exchange Commission (SEC) released a roadmap allowing IFRS filings without GAAP reconciliation for foreign firms by 2009. In 2006; The IASB and the FASB agree to work on a number of major projects. In 2007; The SEC announced that it will accept from foreign filers in the U. S. financial statements prepared in accordance with IFRS, as issued by the IASB, without reconciliation with U.S. GAAP. Also, the SEC issued a Concept Release asking if U. S. public companies should be given an option to follow IFRS instead of U. S. GAAP. In2008;The SEC was expected to vote on a proposal creating a tim eline for moving U. S. public companies to IFRS, also, the FASB and the IASB updated the Norwalk Agreement with the goal of accelerating convergence. In 2009; the IASB ended its moratorium, set in 2005, on the required application of new accounting standards and major amendments to existing standards. The board had frozen its rules while more countries adopted IFRS.In 2011; Canadian and Indian companies are slated to begin using the global standards, and Japan was slated to have eliminated all major differences between Japanese GAAP and IFRS. In the United States, questions concerning IFRS are expected to be included in the Uniform CPA examination. Year 2013 is the earliest year projected by accounting firms for mandating that large U. S. public companies convert their financials to IFRS, year that the updated Norwalk Agreement expects all major capital markets to operate from one set of accounting tandards (AICPA, 2011). The year 2015 is earliest year the SEC would allow public com panies to convert their financials to IFRS (AICPA, 2011). JAPAN Japan financial reporting is guided by both international and domestic factors which fall under the Accounting Standards Board of Japan (ASBJ). From 2004 to 2010, the Japanese Institute of Certified Public Accounts (JICPA) along with ASBJ has made a tremendous move towards the harmonization between Japanese GAAP and IFRS. Some problems remained unsolved as they have to be worked on by 30 June, 2011 (Afaanz, 2011).According to ( Global Glimpses, 2009) and (Smart, 2012), Japan allowed a number of international companies the use of IFRS and some local companies to use them on their own choice for the year ending March 31, 2010. In 2012, the decision about the mandatory adoption of IFRS by 2016 is expected by the year 2013. HONG KONG Starting in 2005, Hong Kong Financial Reporting Standards (HKFRS) were made identical to the IFRS. While Hong Kong had adopted many of the earlier IAS as Hong Kong standards, some had not been adopted, including IAS 38 and IAS 39.All of the December, 2003 improvements and new and revised IFRS issued in 2004 and 2005 started taking effect in Hong Kong beginning from 2010. In 2005, implementing Hong Kong Financial Reporting Standards, the challenge sets out a summary of each standard and interpretation. The key changes it makes to accounting in Hong Kong, the most significant implications of its adoption, and related anticipated future developments. There are some Hong Kong standards and several Hong Kong interpretations that do not have counterparts in IFRS.Also there were several minor wording differences between HKFRS and IFRS (Deloitte, 2008 Tyrone, 2010). CHINA Chinese government had conducted series of accounting standard reforms in 1992, 2001 and 2006 in which each replaced the previous. According to Gingham and Haitao (2010) the Chinese accounting standards were considered to be in great conformity with IFRS. This developments confirm response to the emerging stock market and the increasing demand of foreign investors in China.Karthik, Donavan and Nancy (2005) and Romanna (2010) have however remarked that although in 2005 China converged with IFRS, but not in full compliance with IFRS requirements. The Chinese Accounting Standards Committee (CASC) is the body charged with developing accounting standards in collaboration with the Ministry of Finance (Elmer, 2011). CASC had issued new standards regarding cash flow statement, lease and other standards in conformity with the IFRS. In February 2006, the Chinese Ministry of Finance promulgated the introduction of Chinese Accounting standards based on IFRS.In January, 2007, China was obliged to adopt the IFRS so as to get placed into the global capital market (Zhang, Andrew and Collier, 2007). China is considered being the fourth world economy with far reaching economic effect regarding the application of IFRS. Afaanz (2011) argues that although China is adopting the IFRS there are challenges converg ing domestic standards with the IFRS expected to have been concluded by December 2011, and the application of IFRS to all companies big, small and medium effective January 2012.

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Epigraph was ironically taken from a diet book by Deborah Waterholes which explains the chocolate is a requirement for women! Lexical (word choice) Throughout the text, the author has used a large selection of sensory words which has been used for effect to describe the food. Examples of these sensory words would be words such as â€Å"Mouth-watering' and â€Å"Cinnamon- flavored†. It has been done to create a more effective Genre response from the reader and also to make the simple foods it speaks about seem more luxurious.By using verbs such as â€Å"divine† is creates a more luxurious atmosphere around it and makes it seem much more opulent. The use of the word Glory is very efficacious as it is repeated in the title to make it seem like the chocolate which is being spoken about is so glorious. Which then follows n to the oxymoron in the title Naughty But Nice. Presentational The presentational features all makes it looks like a longer poem then it is because of how spread out it is. It usually has three lines in each stanza which means that it is short.In the first consentingly Glory Be to Chocolate, the words have been printed in italics to symbolism the difference in the poem. Link In the exam I would link text 6 to text 5 because they both discuss in depth the exploration of cross culture and the experiences that could be shared. In text 6 it suggests that he wants his audience to feel as appreciative towards coco beans the way he does as view they re importance just the same. Likewise, in text 5, James Berry is exploring the way in which the Caribbean culture has adapted into the life into London.Attitudes and values The attitudes in this piece towards food are really positive as they think very highly of this food. It is very positive towards not only chocolate but it strongly supports the idea of cross culture and the love of luxurious food. It thinks that people should value food in w way which most people over look, meaning that more people are taking food for granted. Contextual detail This is an extract from the English â€Å"Food Hygiene Regulation 2006† which was put into place to solidify the safety and all laws for all business operators and suppliers e. . Shops, restaurants and etc. In England. These notices were put into place for all establishments to abide by to ensure the safety and protection for all those who use the services. It is the job of the Government to guarantee the safety of the people who are using the services it provides. Extract from Food Hygiene (England Regulations) 2006 This text is an extract from regulations that are set by the government to ensure the requirements are met by all establishments to achieve safety specifically for food.Audience Every company of business who provides a service that sells food egg restaurant, shop, school. This also applies to people who have to enforce these rules upon these types of places. Purpose The point of this text is to have an underst anding of all food being safe for all consumers. It is to inform the audience Of the regulations that the text is enforcing. It is to ensure that all establishments that supply any sort of food or beverage are safe and good enough for consumption. They are to guide ND lead companies into the correct manor and leadership.Because of the nature of text 15, it has many small sections which are labeled by subtitles and then divided by numbers and further subdivided by letters. Each of letters has its own topic and that is why it is separated and labeled. Likewise it has been done this way to make it seem a lot easier to read. Each one of the paragraphs is very short and they all flow from one to the other. It has been laid out this way so that it is easy for the audience to read. It makes it clear and it also makes it visually simple. Additionally, there re that many subjects that it is required for there to be so many paragraphs.

Haiti Education Essay

The Future of Education in Haiti and The Future of Education in Haiti continued†¦, in which both primary and secondary education in the country was evaluated. Highlighting how the aftermath of the quake left children the most vulnerable and susceptible. According to the Haitian Ministry of Education, 80 percent of those schools in the quake-affected areas were damaged or destroyed. In the six months following the quake, the majority of those schools have now been re-opened and up to 40 percent of schools damaged in the earthquake have been cleared of debris. Nonetheless, school attendance rates continue to suffer as the country slowly works to recover from the devastation, a concern which weighs heavy on many’s minds regarding the stability and future development of the fragile nation. Schools act as a safe-haven for children and help them deal with the heavy stress that follows disaster, as many children suffer from post traumatic stress syndrome. It is essential that Haitian children return to school as quickly as possibly, and while temporary means are obviously to be sought as the country continues to dig itself out from the rubble, international efforts must seek to see that the country’s educational system is rebuilt. To mark the day UNICEF Radio podcast moderator Amy Costello reported from Haiti, speaking to Coralie Norris, a 14-year-old student, and Lisa Doherty, the UNICEF Haiti Education Cluster Coordinator, regarding the current climate in the country facing schoolchildren six months after the quake. You can learn more and listen to the podcast here.

Violation of School Rules and Regulations Essay

Violation of School Rules and Regulations - Essay Example Come to think of it, all results to its inclusion and not exclusion of cocaine as evidence to her case. Apart from academic deficiency, the violation of school rules is another ground for denying a student's re-admission, his right to stay in school until he graduates not withstanding. Prof. Jacinto D. Jimenez explained- The objective of every institution is to search for the truth, to preserve the truth and to communicate the truth. The proper education atmosphere is necessary for the attainment of this goal. The disruption of the proper academic environment hinde4rs the accomplishment of the mission of every school. Because of this a school has the inherent authority and duty to preserve order and to discipline students. When a student has proven himself morally unfit to participate in the search for the truth, the school may impose upon him the extreme penalty of expulsion. The investigating committee or official designated by the school authorities to hear and decide the case must base the decision only on evidence or testimony presented and heard by both parties. The decision should not be predicated on matters not presented to the parties particularly the respondent-student or else this would constitute a denial of due process since the student did not have the chance the allegations made.. In the case of De Jesus vs. Penberthy, a school decision to impose the penalty of expulsion was overturned by the court because the school board considered evidence on a charge which was different from

Critically analyse how the concentration ratio has evolved, in recent Essay

Critically analyse how the concentration ratio has evolved, in recent years, in the following EU industry - Public Utilities.carefully consider the reasons for - Essay Example The initiative of the European Commission way back in 1969 is to coordinate the economic policies as well as to set a monetary integration among the European Union. In 2007, the goal European Commission has proven to be very successful. Having implemented the ‘Euro’ (â‚ ¬) currency back in 1999 is part of the strategy used by the European Union in achieving their purpose of making the inter-regional and inter-state trading much easier. The constantly growing economic activity within the European Union has resulted to a tight competition among the members of the EU banking and financial sector. In order to cope with the intensive competition within the industry, most of the small banks have decided to enter into a merger. The merger of the small and medium scale banks would enable them to maximize its resources through the use of economies of scale. services in order to attain a better and more competent economy. The ‘trade and investment relationship’ between the current EU members with a more profitable investment locations in Central and Eastern Europe is very promising. In fact, the ‘concept’ of inter-state trading and investments is being used by the EU commissioners to encourage more countries to become a member of the European Union.2 employment opportunity for the local people before globalization in 2001. Given the huge domestic market of the European Union, the members of EU is able to gain more strength that attracts many of the World Trade Organization (WTO) members to deal with the European Union.3 (See Table I below and Chart I on page 6) Notice that between years 1998 to 2000, the GDP of European Union has been constantly increasing. It means that the production output of the European Union was steadily growing. Normally, when the GDP is increasing, the unemployment is decreasing. Starting in 2001 when globalization became active,

Bullying in school Research Paper Example | Topics and Well Written Essays - 3000 words

Bullying in school - Research Paper Example The data so gathered has been analyzed to arrive at appropriate findings, based on which the researcher has endorsed the conclusions. In addition, the researcher has also offered certain recommendations that will offer better solutions for the management of the problem. Bullying in Schools in the US Section 1: Introduction Background: Humans have an inherent tendency for indulging in violent or non-violent acts to harass or otherwise disturb others and it reflects on children studying in schools also. The statutory definition of harassment or school bullying perceives it as a pattern of premeditated behavior that occurs in school premises, school buses for at the functions sponsored by schools and include but are not limited to â€Å"written, electronic, verbal or physical acts† that may cause â€Å"reasonable fear or harm† to the person or belonging of another student or impede with his or her academic pursuit or other activities (Bullying Definition 1). Evidence sugge sts that the issues arising out of bully-victim-bystander behavior as a dominant public health problem that hampers the ability of children to â€Å"develop in healthy ways† besides compromising their learning potential (Cohen & Freiberg 1). The phenomenon of school violence as a consequence of bullying has a long history in the US and statistics point to the fact that in 2010 alone, reported cases of about â€Å"828,000 nonfatal victimizations† occurred in schools that teach children between 12 – 18 years of age (Understanding School Violence 1). The concern heightens in the light of overwhelming evidence, which shows that â€Å"7%† of teachers in such schools have reported threats of injury or physical attack from students while in 2009 alone â€Å"20% students† reported the presence of gangs in schools (1). Apart from physical violence, other forms of bullying also occur in the school settings. These include verbal abuse, discriminatory behavior , threatening through electronic media including social networks etc which entail psychological anguish for the victims. These factors point to the prevalence of a grim situation in schools across the nation where children are not safe or free from risks of physical and mental harm. Problem Statement: Though deaths relating to school violence or bullying are found to be rare, there is no denial of the fact that this problem causes â€Å"nonfatal injuries† to many students besides entailing grave mental traumas to others (1). In addition, it can lead to a wide range of negative results for the victims and bystanders as well as the perpetrators, including substance abuse and suicide or mental problems such as â€Å"depression, anxiety† or fear psychosis (1). The situation prevalent in schools across the United States during the present day intimidates students and they feel â€Å"unsafe in schools† (Cohen & Freiberg 4). In order for students to attain the objectiv es of learning, it is imperative that they are provided with a safe and conducive environment where they can positively indulge in the learning process and enhance their creative skills. When the element of safety is absent, it can distract the students from the learning process and they will be remaining focused on the inherent risks that they are

Discussion Topic Essay Example | Topics and Well Written Essays - 500 words - 5

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Challeges ESOL Somali learner face when learning how to read Coursework

Challeges ESOL Somali learner face when learning how to read - Coursework Example Most educators teaching ESOL Somali learners assume that these students have prior knowledge of various literary genres such as myths and legends. As a result, teachers teaching ESOL Somali learners fail to develop a good background for basic vocabulary of the English language. Though ESOL learners may be able to read some vocabularies, it is quite difficult to fathom the content presented. In essence, ESOL learners face various challenges when learning how to read. The data for this report was corrected from a number of past studies regarding the challenges ESOL Somalis face when learning how to read. The paper explores the learning experience of Somalis with little or no formal education. ESOL Somali learners have challenges in hearing and speaking the English language. For instance, most ESOL students cannot speak or hear the language they are learning. Actually, since the ESOL students learn English as a second language, various difficulties are present. As a result, sound recognition and production of the second language becomes challenging for ESOL students. Phonics entails the understanding of written words and their corresponding literally sound. In other words, phonics refers to an approach employed to teach reading and writing of English words to non-English speakers. The approach involves developing the learner’s ability to identify and manipulate sounds in order to demonstrate the correspondence between different sounds and the spelling patterns that stand in their place. It is imperative to identify that sound production and manipulation is largely dependent on letter patterns. ESOL learners might have insufficient knowledge regarding their native language since they rarely interact with linguistics scholars. For people to understand all aspects of a particular language, interaction with other scholars is an imperative exercise. ESOL students should not only rely on the little skills

Mayo Clinic in Minnesota SWOT Analysis Research Paper

Mayo Clinic in Minnesota SWOT Analysis - Research Paper Example It has been apparently viewed that the core values of the clinic are patient care, education, and research. Especially mentioning, the clinic is recognized as one of the best hospitals operating in the United States of America (US) (Mayo Clinic, 2012). The research paper intends to discuss the demographic information of Minnesota, on which Mayo Clinic is situated and will also reveal a SWOT analysis. Moreover, the research would also focus on identifying the stakeholders and determining the strategies for gaining the commitment of the clinic towards delivering quality healthcare service to the patients. Besides, a viable solution towards providing care to all people, while making the hospital profitable will also be depicted in the research paper. Minnesota is a state of the US and it is located in the bank of Zumbro River. The population of the state is around 5,379,139. The population of the state comprises mostly of white people. The population also entail Black or African American and Asian among other racial groups. Additionally, the state mainly comprises Non-Hispanic and Latino groups. The people residing in the state are mainly households or families. The poverty rate in the state can be noted as quite low due to the existence of numerous industries, is the healthcare industry to be a potential one (United States Census Bureau, 2012). Mayo Clinic is recognized to be a leading employer in the respective field, aiding in improving the employment rate of the state by a certain degree. Moreover, the presence of the clinic has assisted towards developing the economic conditions of the state through raising the profitability of the restaurants, hotels along with the retail stores due to an increased level of patients visit t he clinic with diverse health problems (Advameg, Inc., 2009).

Monetary Economics Essay Example | Topics and Well Written Essays - 2000 words

Monetary Economics - Essay Example The area of concern in this research paper is to evaluate the transaction demand for money. The transaction demand for money is the money held for purchasing everyday goods from the market. Transaction demand for money for the individuals is initiated by their requirements of paying rent, mortgage payments, monthly bills, and car payments among others (Tata McGraw Hill Companies, 2002). Transaction motive of holding money is initiated also among businesses as the business houses require money in their accounts for meeting their payrolls and paying the bills. Before discussing the reasons as to why it is believed that transaction demand for money is interest elastic, it is essential to discuss the relationship that interest rates have on the demand for money. The demand for money or the quantity of money held decreases with the increase in the interest rates. The substitute or the alternative for holding assets other than the form of money is to hold them as a certain form of paper th at bears interest. Thus, as the interest rate is increased, the attraction towards the assets increases and urges to hold money decreases (Tata McGraw Hill Companies, 2002). After the brief discussion on how the transaction demand for money can possibly become interest elastic, it will be easier to understand the reason behind the belief. 2.0. Transaction Demand for Money According to Keynes, transaction demand for money relates to â€Å"the need of cash for the current transactions of personal and business exchange†. The transaction motive is further divided into income motive and business motive. The motive of income is aimed at bridging the interval between the income receipt and disbursements. In the same manner, business motive is the bridging of interval between the costs incurred in business and the receipts of the proceeds of the sales. In both the cases, if the interval is less, then individuals will strive to hold less cash or the transaction demand for money will b e less and vice-versa. Thus, it is evident that the transaction demand for money has a ‘direct positive relationship’ with the level of income (SVMMBA, 2010). 2.1. Transaction Demand and Interest Rate Keynes did not explain the importance of the interest rates in the analysis of his part of the theory of demand for money. However, in the later years, two of the post Keynesian economists, James Tobin and William J. Baumol have depicted the importance of interest rates as a determinant of the transactions demand for money. These economists have mentioned that there is no linear and proportional relationship between the income and transaction demand for money. According to them, income changes lead to smaller amount of proportional changes in the transaction demand for money (SVMMBA, 2010). Individuals hold transaction balances because income that is received only once in a month is not spent by them in a single day. In fact, this is the common nature of the individuals th at they spread evenly the expenditure over the period of the month. Thus, a part of the money that is meant for the purpose of transaction spending can be invested or spent on short-term securities that yield interests. It is likely to put the funds for the purpose of making them work for a few days, say a week, ten days or even a month. The investment can be on short term interest bearing securities such as short-term money market instruments or commercial papers and

Should the government have a say on what we eat Research Paper

Should the government have a say on what we eat - Research Paper Example Indeed, this happens to be a very divisive question. There are health experts who support a direct state intervention in the dietary choices made by the people. Yet, there are also groups and bodies who believe that government should have no say in what people eat. Pragmatically speaking, government should not have any say at all in what people eat because government has no right to interfere in the decisions people make, and if government really wants to help people eat healthy, it can do say without opting for a direct intervention. Government should not have any say in the food people eat because government has not right to interfere in expression of the free will of the people (Caplan 175). In any thriving democracy, too much government interference in lives of the people is not good. This trend if allowed to gain grounds could certainly lead to a diminishing of the rights of the people (Caplan 175). The government should not have any right to dictate as to what the tax payers or ordinary citizens should eat. People do have the wisdom and the maturity to decide as to what they and their families need to eat. Diet of people happens to be a social issue and not a legal issue. One of the primary roles of the government is to make new laws. Hence, government does not need to pose interference in an issue that happens to be more of a social problem and not a legal issue. Besides, the purpose of any effective government is not to define the lives of the people, but to assure that people are able to live their lives the way they want to. The other thing is that if the government is allowed to have a say in what people eat, the state may surpass this power to interfere with each and every aspect of the people’s life. This is not good for democracy. There does need to be a limit as to how much the government is allowed to interfere in the lives of the people. Telling people what to

Energy drinks Essay Example for Free

Energy drinks Essay Using Energy Drinks in Daily Routine: What Is Energy drink? An energy drink Is a drink which contains drugs that Increases levels of nervous activity in the body, mainly caffeine, which is known for its mental or physical stimulation. Energy drinks may or may not be carbonated, and contain large amounts of caffeine and other stimulants drugs, and many also contain sugar, herbal extracts and amino acids. They are sub branches of the group of energy products, which Includes bars and gels. Energy drinks comes In many brands, qualities, flavors and varieties. Positive Points: 1 . Significant amount of Improvement In mental and cognitive performances as well as increased alertness. 2. Its been suggested that the reversal of some components present in caffeine helps in leaving a good effect on mood and ones performance. 3. After many tests it is observed that in young healthy adults an energy drink significantly increased upper body muscle strength. 4. Energy drinks help in improve memory. 5. Energy drinks Improve circulation of blood In your brain, ears and eyes. 6. Many energy drink companies use fruits and herbs that are healthy (for example: berries hey protect your body cells from oxidation). Negative points: With 30 to 50 percent of teens are taking energy drinks on daily basis, there are disadvantages of drinking these drinks, especially in children and teenagers, because they cannot safely consume as much caffeine as adults can. 1 Energy drinks are very high In sugar level, containing up to 35 grams of sugar per drink, which Is above the recommended amount of sugars for women of 25 grams per day and very close to the recommended daily limit of 37. Grams per men. Consuming a lot of deed sugars Increases your risk for obesity, because added sugars provide extra calories. 2. The caffeine in energy drinks increases the speed with which the alcohol is absorbed by a body making it more likely a person will stay awake long enough to consume more alcohol than a body would otherwise be able to. 3. The risks can be lessened by sticking to the recom mended Limits, which are listed on every drink, and by controlling the consumption of energy drinks by drinking one drink In a day. Extra ingredients , like amino acids, terrine, Guarani and ginseng, are added in such small mounts that they are not likely to give any beneficial health effects or cause any negative side effects. Suggestion: 1 . For many people, occasional drinks are flee, but try your best to limit yourself to about 500 millimeters a day. If youre consistently fatigued or rundown, however, figure a better and healthier way to boost your energy. Get good sleep, include yourself physical activity in your routine, and eat a healthy food. If these things dont help, consult your doctor. Sometimes fatigue is a sign medical condition, such as hypothyroidism or anemia. Or high blood pressure, consult your doctor if energy drinks may cause complications. Pregnant women and women who are breast-feeding may want to especially limit consumption of these beverages. 3. With the growing popularity of energy drinks on daily basis, most of the parents are concerned about how much caffeine their kids are taking. The American Academy of Pediatrics recommends that adolescents get no more than 100 milliards of caffeine a day. Younger children shouldnt drink caffeinated beverages on a regular basis.

Aspects of ICT

Aspects of ICT Introduction Development of computers in the modern society and associated with it computerization of education is characterized by a massive proliferation of information and communication technologies (ICTs). ICT can be used for information exchange and interaction between a teacher and a pupil in the modern education system. As such, not only the teacher must master the ICT technology, but also to be an expert in applying it in his or her professional activities. It is a technological world in which children are often more comfortable than their parents and teachers.[1] Computerization of educational achieves two strategic objectives. First, it improves the efficiency of all types of educational activities through the use of ICT tools and technologies. Second, it improves the quality of training enhancing it with a new type of thinking which is relevant to the requirements of the information society. Using methods and means of information, future professionals must be able to get answers as to what information resources are available, where they are, how they can be accessed and how they can be used to improve their professional activities. In our research paper we will cover the following aspects of ICT Positive and negative aspects of using information and communication technologies in general education Review the role and place of ICT in the building of the information society Review the areas of effective application of ICT tools Review methods of ICT application to address appropriate needs of the educational process, monitoring and measurement of learning outcomes, extracurricular activities and research, in primary school educational institutions Review requirements for ICT facilities Review the market of available ICT tools and products. What is ICT? Information and communication technologies (ICT) are a combination of the hardware and software designed to implement information processes through the utilization of the computers and network technologies. The purpose of ICT in education is generally to familiarise students with the use and workings of computers, and related social and ethical issues.[2] The main focus of the research however will be dedicated to the electronic means of educational purpose, which are a subset of software tools of ICT. These include application software and electronic media, specifically designed for the educational use: a system supporting the process of learning (electronic textbooks and encyclopaedias (including network), electronic laboratory etc.). There are several venues of ICT tools utilization in the education system: In general educational institutions (primary schools, high schools, etc.) In the supplementary education (instructor-led language schools, etc.) In home-based learning (extracurricular activities, etc.) To further narrow down the topic of the research the main accent will be applied to the area of general Primary school education with emphasis on the general education of the primary education processes. According to Andrew A. Zucker who writes in his Transforming Schools with Technology: How Smart Use of Digital Tools Helps Achieve Six Key Education Goals 2008, the ICT will be successful if technology is aligned with six major education goals. Those goals are to: increase student achievement make schools more engaging and relevant provide a high-quality education for all students attract, prepare, and retain high-quality teachers increase parental and community support for students outside of school require accountability for results ICT methods and techniques Methods and techniques of ICT in teaching are aimed at developing skills in information activities of pupils and their information culture. There is a number of different teaching methods that could be employed in this area, some of them are: illustrative, reproductive, research based, corrective knowledge, incentive, motivational, etc. These methods could be tremendously enhanced by the use of ICT techniques. For example, the illustrative methods could be enhanced by using multimedia which can distinctly improve the mental activity of students due to increased visibility and emotional richness (animation, sound, video and other multimedia effects). When a teacher develops the multimedia instructional materials, he/she may use Irish local history material that enhances the educational lesson as pupils would be able to relate more to the topic which is familiar to them. Reproductive methods of education benefit through the use of learning systems offering the high level of customization on a personal-oriented education in which pupils are able to build individual educational path depending on their personal skills and abilities (perception, memory, thinking, etc.). Through the utilization of the ICT the studying process can be enhanced without adding extra burden on the teachers/their schedule. The effect of novelty and overall attractiveness of the computers to the pupils serve as an additional means to stimulate and motivate learning, improve pupils interest in studying. ICT allows and provides a venue to enhance further training thought the utilization of the gaming form of training. The value of these games is very high. Indeed, the skills of non-verbal communication channels (facial expression, gesture, posture, etc.) are important in the daily lives of pupils, and will have even greater significance in future active social and professional activities. The ability to correctly convey the meaning of the message, not only in a form of words but also in a general expression of the body is very useful to pupils in life. ICT and Students General Education and ICT Usage of ICT in teaching of general education courses aimed at improving the learning process within a given scientific field of knowledge. ICT ultimately improves the quality of instruction in schools by increasing the interest of pupils, providing the ability for a highly customized and personalized curriculum, ability to intensify the learning without the increase of working hours of the teachers. It also should be noted that there is a trend of increased usage of project team work especially in the area of research assignments. ICT is an instrumental tool in this area, with its interlinked computer technology and networking capabilities, creating a unique real time integration of sub-projects, making it possible to enhance interdisciplinary links between the general education courses. Usage of ICT tools in the management of the educational process is oriented at improving the governance process. There are several areas that could be managed by ICT; personnel management, management of logistics, management of the educational process, management of information resources. ICT modules where developed for the each of these areas. To improve the process of personnel management a human resource module, to improve the management of logistics a warehouse module, schedule module for the education process, etc. Supplementary Education and ICT Within the area of the supplementary education ICT covers two main areas: ICT as an object of study and tool aimed at enhancement of the mental abilities of children and as means of governance process improvement. The main difference between the system of the supplementary educations of children and primary education system is the lack of mandatory uniform educational standards. This feature brings a qualitative change in the methods of application of ICT, and provides teacher/school with the choice of the educational means/tools. Given that children come willingly to the supplementary education organization (as opposed to schools, where children come on a mandatory basis), the teacher pays special attention to methods of stimulating and motivating of learning. In selecting of the right content of the education, the teacher addresses the needs and interests of pupils more actively in response to innovations in the field of ICT development. Thus, the content of education does not dupl icate the primary-school science, but rather broadens and deepens it. Of course, the teacher can use all known methods of teaching, but priorities are given to the stimulating and motivating learning, research activities and games based learning techniques. ICT tools used in the management of the educational process in institutions of supplementary education oriented to improving the work with gifted children in different areas. Albeit this area boosts special features worth mentioning, specifically the fact that the organizations that provide a supplementary education are in its vast majority are of a commercial nature. As such they naturally imply a more active cooperates/collaboration with the social environment: children and their parents. In each such institution many teachers develop their own programs and techniques which are worthy of compilation and distribution, which may contribute to the further ICT tools development and, above all, the networking technologies. Home-based education and ICT ICT tools in its home-study application are oriented on individualization of the learning process of pupils and their social adaptation. Embedded training technologies in such systems are reproductive in nature, their main purpose is to help pupils to prepare for all sorts of tests/quizzes or exams and basically directed at repetition of school material. In addition, by having a computer at home, the pupil is able to more efficiently complete homework (preparing research for instance, etc.). In this case, ICT tools are the means of individualization of learning and improving the educational activities of students. As a means of social adaptation of pupils, ICT tools fulfil the need of social adaption of pupils while students communicate with each other over the Internet. Networking technologies is a powerful tool of social activity, mobility and responsiveness. Having a home Internet access and computer equipped with the ICT client allows children to receive an opportunity to partici pate in online projects, gain access to various research and data resources as well as an opportunity to demonstrate social activity. The student must be prepared to accept and assess information and develop a correct perception of any information he/she runs into, which helps developing critical thinking which should be given a particular attention by teachers and parents as this is one of the ultimate goals of any educational system. To summarize the use of ICT tools in general education is primarily aimed at improving the existing teaching technologies and management. It should be noted that ICT bolsters pupils ability in the area of data mining, analytical thinking and strengthens their research abilities while working with vast amounts of information available and given a timeline for the completion teaches pupils to effectively manage their own time and the value of team work collaboration. ICT tools are effective in improving interest of students and creation of individualized leaning methods. Application of ICT in the educational process, especially at home, requires development of critical thinking, which should be monitored and encouraged by teachers and parents. Application of networking and distributed technologies in the general education facilitates the integration of various types of best teaching practices under the ICT umbrella. ICT Computer-assisted education With every passing day Information and Communication Technology (ICT) is being adopted into various fields of educational activities. Both external drivers related to overall advent of ubiquitous informational society and internal factors such as wider adoption and spread of the computer technology in schools contribute to this adoption. Steps are taken by the governments to further encourage the adoption through appropriate funding, standard setting and training. In the vast majority of cases, the use of this technology positively affects productivity of teachers as well as the effectiveness of the learning process. The word technology is of Greek origin and means the science, the collection methods and techniques for handling or processing of raw materials, semi-finished products and convert them into objects of consumption. Current understanding of the word includes the application of scientific and engineering skills used to solve practical problems. In this case, information and telecommunication technologies can be considered as such technologies, which aim to process and transform information. Information and communication technology (ICT) is a general term describing various techniques, methods and algorithms for data collection, storage, processing, presentation and transmission of information. This definition intentionally does not include the word usage. Usage of information and communications technology presents yet another facet of technology a set of information and telecommunication technologies in education, medicine, defence and other fields of human activity that is part of overall concept of information technology. Each of these areas of information technology imposes its own limitations and peculiarities. This concept includes the full range of techniques, methods, techniques and approaches to achieve the objectives of computerized education. The cornerstone of the ICT tools is a personal computer equipped with a set of peripherals known as a hardware platform and a set of educational programs known as the software or applications. The main categories of software are system programs, applications and tools. System programs are operating systems (OS) as well as various utilities or service programs. Applications are the tools of the information technology software that enable user to work with text, graphics, tabular data, etc. With the advent of computer networks, students and teachers have a new unique opportunity to receive/send information anywhere in the world. A global telecommunications network of the Internet makes it possible to instantly access information resources (digital libraries, databases, file storage, etc.), the most popular of which is of course the World Wide Web. The internetworking capabilities allow people to communicate and exchange data using e-mail, instant messaging clients, mailing lists, news groups, chats, VoIP and teleconferencing technology. The latest development introduced tools for collaboration and cooperation which are instrumental part of the distributed computers enabling students to interact virtually with each other anywhere in the world. Technology continues to evolve and we as a society seem to be entering the age of ubiquitous computing. It is impossible to assess at this stage how cloud computing and the development of the concept of ubiquitous computing would affect the area of education, but there is no doubt that many of these technologies have the potential to significantly improve the quality of training and overall students education. At the same time, however, despite of the massive positive impact, in some cases, the use of the information technology has no effect, and in rare cases, such use has a negative effect. Concept of the information society, which includes education, gained significant boost in the early 90-ies and was taken seriously by the governments of the developed nations. Albeit the concept is not new, and was first introduced by Fritz Machlup in 1973, in his book The production and distribution of knowledge in the United States, which suggested that the information society is the highest stage of societal evolution. Positive and negative aspects of computerized education It may seem that the use of ICT is always warranted in all areas of educational activities. Certainly, in many cases it is. However, it has a number of negative aspects. Positive and negative factors of ICT should be taken into account by pedagogues. Pros are improving methods and techniques of selecting and shaping the content educational material introduction and development of new specialized disciplines and fields of study associated with the informatics and information technology changes in teaching of the traditional school subjects improving education of pupils by increasing their level of individualization and differentiation introduction of new forms of interaction into the learning process that changes the content and nature of the teacher and pupil relationship creates tools assisting in optimization of the education management creates and supports the integration trend of subject areas and the environment, Allows high level of customization. Raises level of activity of the student develops the ability of alternative thinking, building skills to develop a strategy to find solutions Allows predicting the results of decisions based on the simulation of the studied objects, phenomena, processes and relationships between them. Cons are: In spite of the obvious pros the use of ICT can lead to several negative consequences. In particular, most often one of the benefits of ICT is referred to the individualized learning. However, along with the advantages there are also major shortcomings associated with the total individualization. It limits to the minimum the live interaction between teachers and pupils, pupils with each other and surrogates it with interaction with the computer. Due to limitations of the current technology the only interface of this communication is a keyboard rather than speech. The main interface of the human mind ability to speak gets shutdown. The lack of practical dialogic communication hampers the development of the language and overall affects negatively development of the thinking process. Another significant drawback of this surrogate relationship is the curtailment of social contacts, the reduction of social interaction and communication, individualism. Certain difficulties and negative aspects may arise from the use of the ICT tools that provide teachers and students considerable flexibility in finding and using information. Often confusing and complicated methods of presentation may cause the diversion of the pupils from the studied material due to various inconsistencies. Moreover, the nonlinear structure of information exposes the student to the temptation to follow the suggested links that which can derail the purpose of the exercise in its entirety. The use of information resources published on the Internet, often leads to negative consequences. Most often, the use of ICT tools triggers plagiarism cut and paste of the readily available projects, essays, reports, research papers, etc. which does not enhance the effectiveness of learning process. ICT tools can be not only a powerful tool for the formation and development of children but conversely, promote a standard pattern of thinking and inert attitude to work. In many cases, the use of ICT and real time availability of data deprives and prevents students from conduct real experiments by their own hands, which adversely affects the learning. And last but not least, the health aspect of pupils must be taken into the most serious consideration as the excessive of ICT equipment could negatively affect the health of a child. Methods of ICT application in the education process ICT tools can be used as a mean of support in the traditional methods of education. In this case, ICT enhances the training process, provides a venue for certain level of customization of learning and allows for partial automation of routine work of teachers related to accounting, organization and grading. On the other hand, ICT could lead to a drastic change of educational process, forcing the revision of methods and forms of organization of educational process. Induces the construction of integrated courses based on the use of information content in each school disciplines. The need for specific knowledge which is either not available in a single individual subject, i.e. interdisciplinary knowledge is needed or there is a need for a deep dive research a need to explore a number of concepts, theories and laws that cannot be obtained in a standard teaching. The need for the reproductive abilities. A need to prepare for the quiz which has time limitation. The need for creative thinking. Development of the optimization skills. Most cost-effective solutions or the most optimal variant of process The need to develop tailored personalized qualities. Formation of students sense of responsibility towards others, towards themselves. All of the above reasons and factors suggest that the use of ICT tools in teaching students on a bigger is better principle may not lead to visible improvement in the efficiency of education. ICT use requires a balanced and well-reasoned approach. Information Society and ICT Using the amount of knowledge as a criterion it was determined that the amount of human accumulated knowledge is skyrocketing and is doubling[3] every 5 years since 1970. Using this figure as the amount of accumulated human knowledge as a criterion for awarding the public status of the information society is justified, because according to some estimates, since the beginning of our era, the first doubling of the accumulated knowledge of mankind took place in 1750, the second the beginning of the twentieth century, the third already by 1950 year. Since 1950, the total amount of knowledge in the world doubles every 10 years, since 1970 every 5 years. The history of the information society contains the history of the origin and development of new types of human activities associated with computers. Such growth resulted in an appearance of a specialized group of people employed exclusively in the information industry (operators, programmers, system analysts, designers, etc.). Obviously, the emergence of new scientific and professional areas requires specialized training with not only the specialized content but also particular methods and means of educ ation. Therefore it is not a coincidence that computer based education achieves two strategic objectives. It improves the efficiency of all types of educational activities through the use of ICT and improves quality of training through a new type of thinking the relevant requirements of the Information Society. The computer-based education is an integral part of the information society. The transition of modern society to an information era of its development advances as one of the major challenges facing education, the task of forming the foundations of an information culture of the future specialists. Societys need for skilled personnel possessing a necessary skillset becomes a leading factor in educational policy. Today, it is virtually impossible to find a school which would not have ICT implemented in some form. In todays world everything is interconnected. It is obvious that computer-based education and information society development are closely linked, constantly affecting each other. Here are several of these areas of overlap changes in content and functions of education, forms and methods of teaching activities positive impact of ICT tools and information on the development of creative abilities educational impact of information technology the emergence of the possibility of using multimedia technologies in education further development of continuing education in the information society Development and widespread use of electronic models of learning the establishment of developmental education based on the information resources of society a combination of traditional and innovative ways of learning in the information society formation of information culture of teachers to work in all forms of educational process generation of new approaches to the management of the institution and assessing the quality of teacher work globalization and integration of educational services in the information society Information technology in school education Types of audio-visual and technical equipment used in teaching. The birth of ICT did not happen overnight and was preceded by a rapid development of various non-computer devices known as technical and audio-visual training aids. For the extended period of time, technical means of training were attributed only to the hardware: slide and movie projectors, television sets, tape recorders and CD-players, as well as specially designed teaching materials and aids such as filmstrips, cassettes and compact discs. These learning tools at different stages of development of the education system were the main tools for improving the efficiency of storage, processing, transmission and presentation of educational information. In the absence of computer equipment they have played the role of information and communication technologies. A hundred years ago, with Thomas Edison invention of phonograph, the first incarnation of ICT was born. A that time with the advent of the ability to record, store and playback audio all the problems of education were seen to be solved; today of course, it is obvious that not all such problems have been solved completely. Throughout the last century a variety of teaching tools were introduced; each time resulting in more advanced informational support system of the learning process, which in turn a positively impacted the effectiveness of teaching. At present, any educational institution possesses a subset or a full set of the following: audio recording and playback (tape, CD-players) voice/data transition systems (telephone, fax, teletype machines, radio communication systems) video/radio broadcasting equipment (television, radio, educational television and radio, DVD-players) optical and photographic equipment (cameras, slide projectors, overhead projectors) Printing, copying, scanning and other equipment designed for documentation and reproduction of information (copiers, microfilm, microfiche) computer facilities used for the electronic submission, processing and storage of information (computers, printers, scanners) telecommunications systems for the transfer of information through communications (modems, network wire, satellite, fibre optics, microwave and other communication channels) Analogue Equipment: Audio tape recorders, microphones, amplifiers, speakers, recorders, radios, language equipment, tapes, records) Graphic and photographic tools cameras, slide projectors, overhead projectors, filmstrips, slides, images on the tapes Projection equipment cameras, projectors, films Movies and TV facilities TVs, monitors, cameras, camcorders, VCRs, video players, video projectors, video tapes). Digital equipment: Audio digital voice recorders and players, digital CD-ROMs Graphic and photographic tools digital cameras, laser and magnetic disks, storage memory card Projection Technology multimedia projectors Movies and TV facilities digital video recorders, DVD-players and DVD-players, laser and magnetic disks, electronic memory card) Computer tools Computer multimedia tools to record, process and playback sound, recording processing and visualization of text, graphics and photographic facilities; recording, processing and playback. With the advent of the internet the computer serves as a cornerstone of the ICT and enables a number of features which were unavailable in non-internetworked world; telecommunication between people, real time collaboration and real time access to information resources. Computer technology gives unique opportunity to combine different technologies and different means such as sound, text, photos and video into one cohesive venue of delivery. However, introduction of computer technology brings an interesting point. At first glance, it would be logical to include other technologies and tools of relevance to the processing and presentation of information used in education. However, at the same time, the universality of the computer brings the educational technology to the whole new level and questions the usage of all non-computer based tools with the exception of the book perhaps, as they are losing relevance. Today, for obvious reasons, it is practically impossible to find a modern educ ational film-strip or phonographic disks. As such, the implementation of computerized education will lead to increased use in of advanced information and communication technologies. Therefore, our research was concentrated on all aspects on the ICT: computer hardware and software, as well as their practical content. Hardware Computers and devices, commonly referred to as hardware, is a platform of any ICT system and should be carefully selected with the idea of being part of the educational process behind. Despite its apparent youth, computers have a fairly rich history. The idea of automating calculations which gave rise to the creation of the first computing devices is not new and has been entertained for a long time. The first operational summing machine was built in 1642, Blaise Pascal, a French physicist, mathematician and engineer. Despite the fact that the initial calculations were performed by mechanical devices and tools, such devices can still be considered as tools of information processing and, consequently, the predecessors of the computers used in various fields of human activities, including teaching. Even four decades ago the computation was widely done by mechanical calculators, and electro-mechanical proto-computers. However, because of its bulkiness, difficulty of use, high cost, low-speed of information processing and a number of other reasons a computer could not find a proper application in the field of education at that time. A rare exception is higher education, the availability of computers in which justified the need for training in a number of professions such as computer science. Moreover, teachers and students work usually with one computer. It is in these universities sprung up first experience of computerized education. However, the real large-scale introduction of computers into all educational activities took place in the early 80-ies of the last century; PCs stressed the word personal i.e. one computer one person approach; its compactness, speed, relatively low cost, availability of a large number of devices that extend the capabilities of personal computers, all that contributed to the raise of PC in every facet of our lives, including education. The main direction of PC development was on expanding capacity to process information. Gradually, the hardware evolved and allowed people to create, store, process and transmit text, graphics, photos and video clips and sound. Due to its versatility personal computers provide maximum amount of benefits for education purposes. Most of the teachers and students are working with personal computers available in every school. Through personal computers held theoretical lessons and practical exercises, measured the level of knowledge, and conducted research, distributed workload, and planned extra-curricular activities, carried out educational projects and self-education activities. In this regard, c

Main Characteristics of Human Resource Strategies

Main Characteristics of Human Resource Strategies To understand the main characteristics of human resource management strategies, there is need to define the meaning of human resource management and HR strategies and how they are linked to each other within business environ, irrespective that HR is our daily routine in the aspect of life, development, advancement and the way we choose to do things for achieving better result in all aspect of administration and social life activities What is Human Resource? Obviously HR its believed to be a phrase used to refer to how employees are managed by the organization or to the personnel department handling that particular role. Managerially, its the responsibility of human resource managers in every corporate business environment to conduct these activities in an effective, legal, fair and consistent manner. However, the pitch has moved from a customarily administrative task to a strategic one with the aim of recognizing the link between capable and occupied people and organizational achievement. In this context, the pitch draws upon concepts developed both in industrial/organizational psychology and system theory.Besides, Human resource have at least two interrelated interpretations but depending on the context which we shall be discussing as we progresses although this perception is however changing drastically as a function of new and ongoing research into more strategic approached. Human resource management can also be defined as a unique approach to employment management system which also seeks to achieve competitive advantage through strategic development of a highly committed and capable workforce using integrated array of cultural and structural personnel techniques (Storey 1995). Going by the word human resource managements objectives, it consists of the followings: It simply means to get the most out of the return on investment from the organizations human capital and also curtail financial risk. Administratively, its the responsibility of human resource managers in every corporate business environment to conduct these activities in an effective, legal, fair and consistent manner. Also considering that management is the process of getting things done effectively and efficiently with and through other people to achieve the objective of the firm and organization. The need to understand that human resource management is the organizational function that deals with issues related to people such as the employee motivation, hiring,ÂÂ  communication,ÂÂ  healthsafety, performance management, compensation, organizational development, administration, training and selection, wages and salary, pension management etc. What is HR Strategies? This simply means a way of putting policy in place in the right areas such as how to recruitment the best employees,ÂÂ  how to manage and retain the best employees,ÂÂ  how to terminate poor employees, also it does require thinking ahead, planning ways for a company to meet the needs of its employees and the employees meeting the needs of the company and achieving its goal and targets.ÂÂ  However,ÂÂ  its obvious that companies who work very hard in meeting the needs of their employees can develop a work environment favourable for productivity. HR strategy as defined by Shaun Tyson (1995) as the intentions of the corporation both precise and covert toward the management of its employees, expressed through philosophies, policies and practices, typically, strategic HRM bridges business strategy and HRM focuses on the integration of HR with the business and its environment. A HRM strategy sets out what the organization intends to do about its resources management policies and practices and how they should be integrated with the business strategies and each other. However, they are described by Dyer and Reeves (1995) as internally consistent bundles of human resources practices and according to Richardson and Thompson, (1999) A strategy whether it is an HR or any other kind of management strategy must have two key elements: There must be a strategic objective i.e.(What the strategy aims to achieve) There must be a strategic plan of action i.e. (The means through which such proposed objectives would be met) We must understand that fundamental types of HR strategies can be identified as follows: General strategies: This involves high-performance management, high commitment management and high involvement management. High-performance management strategy basically aims to make an impact on performance of the organisation in the following areas, productivity, growth and profits, levels of customer service, quality. However, it also looks at extensive and relevant training and management development activities, recruitment and selection procedures, incentive pay system and performance management process. These are called high-performance working system which we shall be explaining on how they help employees in problem solving and how it provides incentive to motivate workers to use their flexible effort. High commitment management as one of the major characteristics of HRM which lays prominence on the importance of enhancing mutual commitment. However, its been described by wood (1996) as a form of management which aims at eliciting a commitment so that behaviour is self regulated rather than been controlled by sanctions and pressures external to individual and relations within such an organisation is often based on trust. It is worthy to note that there are many similarities between high-performance and high-commitment. In fact, there is a common ground between practices according to Sung and Ashton (1995). High involvement management its a precise set of human resources practices that focuses on employee decision making, power, access to information, training and incentives. High involvement was used by Lawler (1986) to describe management system based on commitment and involvement as different to bureaucratic system based on control. The principle is that employees will increase their involvement with the company if they are given the opportunity to control and understands their work. However, it was claimed that high involvement works well because it acts as a synergy and has a multiple effect. This approach requires treating employees as partners in the business whose interest are highly respected and who have interest in matters that concern them, concerned with communication and involvement. The practices included in a high involvement system have sometimes expanded beyond this original concept and included high-performance practices InÂÂ  thisÂÂ  today modern world,ÂÂ  its believed that a great human resource strategy provides an undeniable and persuasive business folder for aligning populace andÂÂ  society with business strategy as well as it commands the awareness of management and builds the required obligation for required resources and support for execution. In business,ÂÂ  Strategies create or build a sensitive intelligence of value in business development, growth, size, strategic planning, and willingness to change for better productivity. In Human resource strategy, there is always a link that dovetails from the strategic management process which includes the followings, strategic analysis, strategy formulation, and strategy implementation. The main rationale for strategic HRM thinking is that by integrating HRM with the business strategy, rather than HR strategies being a separate set of priorities, employees will be managed more effectively, organizational performance will improve and therefore business success will follow, also Human resource in itself may not be effective but integrating corporate strategy and HR matters into an organization and people strategy may prove more successful. We can also look at other Features of HR Strategies as follows: Motivation Strategy This is a conscious decision to direct effort in an activity to achieve goal that will satisfy a predominate need. Also we could look at it as a way of motivating employee of any firm/organization to achieve better/quality productivity and achieving the goals and targets of the company in a business environ considering the fact that Its obvious that every organisation is operating in its own style of business to maximize profit and minimize risk occurrence but the question ahead of us is that how can a company motivate its employees in a working environment? Any company/organisation can motivate its staff by the followings: letter of commendation, giving prize, gifts, promotion, and review on increase in salary, required training etc. Implementation Strategy This is a strategy which any firm/organisation applies into their policy after and during meeting decision which helps the company to align their strategies from the corporate level to the shop floor workers to work in accordance with the aim of achieving the set target goal and employees also need to have access to the resources and equipment to do their work effectively. We can also look at other Characteristics of HR Strategy as follows: Performance management : As one of the characteristics of HR strategy that deals on managing performance which is the key responsibility of line managers and any area where a partnership between HR can be most effective and beneficial. However, HR can be of tremendous help to managers to understand how to define roles in the light of business drivers and how to identify the capabilities required to do the job. The key performance indicators for each role should be derive from the business drivers in making job role more responsive to the changing business environment. Job security Job design: In this context HR ensures that the right people are selected for roles which dovetail into helping the employees to see for themselves if they have the capabilities for new roles and HR can work with the line in developing self-assessment. It is obvious that job responsibilities fall between the gaps and most job descriptions are not current for more than a few months. In general, managers most often believe that what workers want most from their jobs are extrinsic rewards such as good wages security, promotions and good working condition but the employees, however, usually rank intrinsic rewards, such as challenging work, recognition for good work, participation in decisions that affects them and sympathetic understanding of personal problems higher than job security and good wages. When they do not get these desire provisions from the organisation they tend to go somewhere else to work. Designing effective appraisal development process : Appraisal requires excellent interview and counselling skills if the process is to be motivating for those involved and it relies on managers and employees having a relationship in which discussing performance is not seen as a burden or a threat, however in many cases, managers do not make the time to appraise peoples performance well. In many organisations the link between personal development and the business strategy is atimes weak but with appraisal being used as an annual administrative chore, which means that employees fail to take personal development seriously but HR can help by designing process which are simple to use and user-friendly. Appraising employee is a significant factor that identifies the loose end of an employee to re-adjust its stand. Selection Recruitment: A strategic approach to recruitment and selection needs to incorporate a wider set of policies, such as reward, development and job design which reflects an understanding of employee motivation and closely linked to trends in the changing labour market. Recruitment is a part of an overall career management strategy which is driven by the business strategy, getting the right staff for a specific job and retention. Remuneration : This is the comparing termsconditions of employment and salary scales including the structure of share options and to whom they are available, severance terms in contract ,incentive and bonus schemes in terms of immediate and future commitments. Strategic management skills especially understanding how to add value to both employees productivity and the new business. Change Organizational structure: Being able to manage change means taking a proactive measure rather than reactive role in bringing about change which involves being able to understand how the organization works as a system, identifying where the changes needs to occur to enable the organisation to achieve its goals and requires being willing to assess how well the HR team is equipped to manage and being prepared to improve the teams capability as appropriate. Trainingdevelopment: Every company/firm needs training and development for their employees for better improvement both in procedures that is cost effective. Training helps in organizational development, increasing returns on investment, improving the market share and increasing the levels of product innovation. However, it helps in both awareness raising and skills development of the member of staff. Also certain drivers of training are already starting to transform the employment landscape, by making the employees to be offered roles which makes the best use of their Talent and uplifting the employees to the right job. Training and development has done a great impact in organization by employee adding value through their positive effect on customers, who will in turn purchase more and produce a positive impact on the bottom line and improve share holder funds. ASSIGNMENT NAME : PATRICK N. MADUGBA IDENTITY: ST2001-09 COURSE: PGD-BA SUBJECT: HUMAN RESOURCE MANAGEMENT TOPIC: WHAT ARE THE BENEFITS OF TRAINING TO STAFF AND ORGANIZTIONS? LECTURER: BENJAMIN A. ADEBOWALE DATE: 1ST MARCH, 2010 Its quite obvious that training and development exercise is necessary in every organization, firm/company. However, before we look into the benefits of training to staff and organization, there is need to understand the meaning of training. Training: Its often said that training is an expensive unwarranted exercise but training is seen as something that is work related on job training, off job training or employment training schemes and also to assess organizational, departmental, divisional group, occupational and individual performance. We shall be addressing the benefits of training from the following point of view as we progresses. JOB ASSESSMENT AND EVALUATION: In this context training helps the effectiveness of the job in terms of the present and immediate future, the potential usefulness, specific changes envisage in terms of priorities and technology. It also identifies the gap in staff organization to be filled. GOOD COMMUNICATIONS: Training aligns itself with the help of effective formal and informal communications and the extent and nature of correcting misunderstandings. It also helps both in staff and in organisational and operational confidentiality. ENHANCES JOB FLEXIBILITY: Especially at formal performance appraisal times and intervals which requires the ability, willingness and flexibility to accommodate issues raised in both approaches. FULFILLING REQUIREMENTS/STANDARDS FOR REGULATORS: Identifying those areas required and usually to consider the absolute standards required in skills, knowledge, attitudes, behaviour, expertise, and performance in both staff and organization. INTRODUCTION OF NEW TECHNOLOGIES: Basically when there is an introduction of new tech in the company it is important to trainretrain staff/organization to be more versatile and get used to how to make use and work with the new product in an effective and efficient way. RESPONSIVENES AND FLEXIBILITY: This refers to the ability to deal with; shortfalls in the usage, potential, capacity of organizational culture, and weakness, unity and clarity of purpose. FOR GROOMING NEW LEADERS: Training development of staff has really shown a great impact in a way of grooming future leaders for better task and product business technology responsibility. IT ENHANCES PRODUCTIVITY: When and after been train there is possibility of increase in productivity which dovetails into size and market growth, share holders funds. NEW EMPLOYEE INDUCTION TRAINING: Basically this is getting to know the staff, setting basic standards; indicating required attitudes, values and behaviour; ways of working; meeting colleagues; job description, goals and target. Meeting key staff with whom they interact; how to interact with key suppliers; customers and clients and general organizational environmental familiarisation which has been of great importance/benefit to both staff and organization. ENHANCING STAFF WORTH: Ensuring that staffs are aware of legislation; their rights and duties; instilling universal standards of attitude, value and behaviour; intolerance of discrimination; bullying; victimization and harassment on race. HRM PROCEDURES AND PRACTICES: Basically explaining staff management requirements and expectations, for instance; disciplinary, grievance, dismissal and redundancy procedures, training opportunities, other things to do with contracts of employment and terms and conditions to both organizations. PROMOTES STAFF EFFICIENCYEFFECTIVENESS: Ensuring that the staffs are trained in monitoring, reviewing and evaluating the effects of what is done and constantly and actively seeking ways of building on success and strengths by addressing the weakness and gap identification for better productive results. PROMOTES INTERPERSONAL RELATIONSHIP: This teaches the staff and organization series of tasks and activities required of them in their daily work and in their perspective and environment. However, it draws a direct relationship between what has been learned elsewhere and how it is now to be applied as required. Training also enhances level of interest and therefore commitment to the work and organization. It is also appropriate in some cases in job rotation, enrichment, enlargement and enhancement programmes where staffs are moved from one job to another on a regular and formal basis. Continuous Training prevents staff from becoming stale or bored in one job and enhances their employability. It enhances collective and individual confidence, identity, commitments and loyalty and brings out potential in staff. Effective training and development enhances the staff knowledge and understanding of what is possible in certain circumstances and under particular constraints. It helps staff in designing, implementing and supporting the required management and supervisory style and increasing higher output per staff. Training and retraining, it provides the opportunity for staff in setting a moral or value possibly taking pride in the organization and its work on the part of all concerned. FOUNDATION FOR SUCCESS: Basically coping with the change and uncertainty in products, services, technology, organization and the environment being productive and successful. Training has been of immense benefit to both staff and organization, accuracy in prioritising those activities that contribute directly to organization profitability and effectiveness Training of staff on how to deliver and respond to the programmes as a whole and also participating in the aspects which may have good knowledge Training has been of benefit to staff to address the full range of needs and ability to maximise the full potential, interest capability and willingness of everyone By enhancing commitment and motivation, clear policy and direction, clear and acceptable set of rules In monitoring, review and evaluation mechanisms at both and operational management levels Gives greater employee expectations, employee commitment and enhancing total awareness of potential Gives a clear common standards in areas of shortfalls in practice, easily identified and effective remedy Training meets best practice standards whatever the sector or occupation and for actual practice Training improves high levels of staff value including high levels of pay and rewards. High priority and high quality on the job training. Training helps to boost and speeds up development processes and reflection of value within the business environment Training promotes uniformity in staff and the way they interact both with other colleagues and clients and customers. Also maintaining standardization in all aspect of production. Continuous training of both products and services thus enhances the staff competency, which brings out the best in any staff to work and aim at achieving the desire targets and goals and objectives of the company. It helps to oversee the design and production of all promotional materials for use in an organization It helps in developing and devising strategies in meeting the set standards and repositioning in the business environment EMPLOYEE MOTIVATION: Training motivates staff, drives the need, motive or goal that triggers action. Also a selection process that directs the choice of action to be carried out for better performance. Training has also helped in understanding where, why and how effective development has taken place and also providing information to be used as a basis for effective corrective action. REBRANDING REPOSITION: Training has been proven to be of immense help in rebranding of products which helps in productivity and sales and thus repositioning of companies image within the business environments. All these benefits through training have been of great impact on staffs and organization in transforming to a better creativity and productivity. ASSIGNMENT NAME: PATRICK N. MADUGBA IDENTITY: ST2001-09 COURSE: PGD-BA SUBJECT: HUMAN RESOURCE MANAGEMENT TOPIC: WHAT DO YOU UNDERSTAND BY INTEGRATED HUMAN RESOURCE STRATEGIES LECTURER: BENJAMIN A. ADEBOWALE DATE: 1ST MARCH, 2010 Integrated HR Strategy This simply means a way of putting policy in place in the right areas such as how to recruitment the best employees,ÂÂ  how to retain the best employees,ÂÂ  how to terminate poor employees, also it does require thinking ahead, planning ways for a company to meet the needs of its employees and the employees meeting the needs of the company and achieving its goal and targets. However,ÂÂ  its obvious that companies who work very hard in meeting the needs of their employees can develop a work environment favourable for productivity. Shaun Tyson (1995) defines HR strategy as the intentions of the corporation, both explicit and cover, towards the management of its employees, expressed through philosophies, policies and practices. Typically, strategic HRM bridges business strategy and HRM and focuses on the integration of HR with the business and its environment. One of the key elements of HRM is the internal integration of HR policy goals with each other. David guest (1989) incorporated the HR policy goals of strategic integration, commitment, quality and flexibility into a model. He suggests that these HRM policy goals are a package which Purcell (1996) considers to have six common elements as follows: Careful recruitment and selection Extensive use of systems of communication Team working with flexible job design Emphasis on training and development Involvement in decision making Performance appraisal with tight links to contingent pay. The rationale for strategic HRM thinking is that by integrating HRM with the business strategy, rather than HR strategies being a separate set of priorities, employees will be managed more effectively, organisational performance will improve and therefore business success will follow ,however this in itself may not be enough . Tony Grundy (1998) suggests: Human resource strategy in itself may not be effective. Integrating corporate strategy and HR matters into an organisation and people strategy may prove more successful. Certain drivers for change are already starting to transform the employment landscape, reversing previous power balance between employers and the employees. Globalisation is highlighting the need for organisation to manage the development of talent as well as to manage knowledge in complex. Technology and the rapid changes in working practices and skills requirements are enabling employees who are truly employable to command their price and dictate terms to their employers, while line management is quite responsible for the growth and survival of the business and its employees. HR as a function has potentially key role to play in partnering the line to prepare their organisations for future challenges. This is where operational effectiveness has to be balanced by a strategic perspective. This need for balance is demonstrated through one of the major thrust of strategic thinking in recent years. Hamel and Prahalads (1994) idea of the core competence of a firm suggests that firms should build their strategies to what they do best. One of the key of challenges for the leaders of any organisation is to provide a sense of direction and a focus for the organisations activities. Ideally, strategic direction involves creating a situation in organisations where the present is being driven from the future, rather than simply being seen as an extrapolation from the past. In changing times there is a greater need for clarity of business direction than in more stable times when the status quo provides employees with guidance as to what is expected of them. However, if employees are to be able to contribute their skills in the most effective way in order to realise business aims, it helps if people know what these aims are, knowing the need of what is expected of them and why. In some organisations, the business direction is made clear in strategic imperatives and the business plan. However, commentators such as Guest (1987) and Storey (1995) regard HRM as substantially different model built on unitarism i.e. employees share the same interest as employers; Individualism, High Commitment and Strategic Alignment (Integrating HR strategy with the business strategy). It suggested therefore, that HRM has also emphasized that employees should be considered as assets rather than variable cost. A strategic HR is likely to have a number of key roles relating to the attraction, development and retention of talent. This may mean competing for the best employees through developing innovative approaches to careers and rewards. Quality of management is likely to be another key agenda item; this may mean introducing tough and effective assessment and development process to ensure that the organisation has the leadership it needs. The enabling of high performance is likely to be a key target for strategic HRM. This involves understanding how high performance is built and sustained, as well as identifying and eliminating barriers to high performance and this will probably involve addressing those aspects of organisational life which have an adverse effect on peoples motivation. HRM policies and practices have been linked to competitive advantage as follows: Communication/corporate responsibility which lays emphasis on communication and corporate responsibility Resourcing Emphasis on external resourcing and internal resourcing on aspect of training and careers development. Culture Promoting an empowerment culture, diversity and an equality culture. Organisational structure and control Emphasis on flexible organisations/work practices, utilising IT to structure the organisation, horizontal management and reward innovation/creativity. Strategic This is where HR planning provides valuable data and is carried out as an integral part of the overall strategic planning process. This involves line managers in developing and evaluating HR practices since this approach recognizes that those who are most knowledgeable about the workforce should be involved in building commitment to the strategy across the organisation. Typical objectives associated with different areas of HR responsibility (after Lam and Schaubrock) include: Maximum strategic impact Aligning HR practices with business objectives, conducting development programmes to support strategic changes. Improving HR adaptability on changing environment and enhancing workforce capability and motivation. Coordinate Integrating diverse HR functions and operations, develop compensation and benefit programmes, improve HR project management, coordination between various HR functions and any potential HR problem. Improve team effectiveness. Communicate Improving employee involvement and understanding of HR, communicating HR policies inside the organisations, conducting job analyses for long-term objectives, improving management acceptance of current/new HR policies and also communicating HR policies outside the company. Control Improving HR resource procedures and control, managing personnel-related cost, reviewing HR operations procedures, improving HR budget control and clarify budget and resources availability.