Limitations Of Agency Theory Finance Essay

Limitations Of Agency Theory Finance Essay Irrespective of the recent well-deserved criticism of Agency Theory I believe it should still play an important role in managerial remuneration. Empirical evidence supports the theory that a conflict of interest exists between shareholders and management. Throughout recent years one of the more commonly discussed management topics has been executive compensation and in particular the size of bonuses awarded to CEOs and other senior management. Agency theory can be considered to be the most widely used theory to explain executive compensation. The focus of Agency theory is on ways to make the governance system of corporations more efficient so that shareholders interests and performance expectations are given every chance to be realised by the Chief Executive Officer (CEO). An agency problem may arise between managers and shareholders because the principals (the shareholders) cannot adequately monitor the actions taken by the agent (the managers). Subsequently, the agent can have an incentive to pursue their own interests, rather than the bet interests of the principal. Given the body of evidence, it would be naÃÆ' ¯ve to claim that agency theory has not made a significant contribution to the principal-agent literature. However it does have its limitations and a new approach is needed to use the benefits of agency theory to its fullest. By realizing agency theorys limitations, we can add to its strength. Droege, Scott B A key issue facing agency theory is the reliance that stakeholders have on the board of directors. This has proven to be an unhealthy reliance and the level of independance of some board of direcors can be questioned. This is discussed by Band (xxxx) when he noted that while there is a common perception that the board is independent, this is often fake as noted by Pearce and Zahra who found that over 85% of Fortune 500 industrial companies had Chairmen who had also served as the corporations CEO. It is well documented that executive compensation packages should be designed to align the interests of senior management with those of the shareholders and thereby reduce the dysfunctional behaviour of managers; this is typically done by rewarding executives for taking decisions and actions that increase shareholder wealth ([26] Mortlock, 2009). Unfortunately, the shareholders (and directors) may have neither complete information about the actions of executives or the expertise to evaluate those actions, making it difficult to base compensation on actions alone. Instead, compensation in practice is often linked to measures that are positively correlated with managerial performance, for instance market share, share price or accounting profit. Additionally In recent years Boards have become weaker as more power has been distributed to senior management. This has resulted in the decline of the accountability of Directors and a resulting impact in the decline of the monitoring role of Boards. Corporate Governance David Band The board of directors is heavily reliant on the information provided by the CEO. The recent spate of failures among both financial and non-financial companies has been accompanied by a growing interest in and concern about the compensation of the CEOs of major U.S. corporations. This, in turn, has reignited interest among both academics and financial practitioners about agency theory issues, especially the question of whether or not the total compensation of CEOs is properly scaled in relation to the earnings they generate for the shareholders they serve. We find that the executive remuneration design derived from a single agency perspective is insufficient. Prospect theory, real option theory and managerial power approach all together would complement agency theory to bring the theory of executive remuneration closer to reality Adam Notes Agency Theory or Stewardship theory Limitations of Agency theory Irrespective of the recent well-deserved criticism of Agency Theory I believe it should still play an important role in managerial remuneration. Empirical evidence supports the theory that a conflict of interest exists between shareholders and management. The board still functions on information provided by the CEO. While there is a common perception that the board is independent, this is often fake as noted by Pearce and Zahra who found that over 85% of Fortune 500 industrial companies had Chairmen who had also served as the corporations CEO. In recent years Boards have become weaker as more power has been distributed to senior management. This has resulted in the decline of the accountability of Directors and a resulting impact in the decline of the monitoring role of Boards. Corporate Governance David Band The appropriate remedy for the problem of the potentially self-interested or incompetent managerial team is said to be the monitoring board. But frankly, no one really knows what is the optimal level of option grant: what level of stock option compensation will make an executive risk-neutral like the shareholders, or willing to bite the bullet on layoffs, or willing to accept a premium bid? Even if the stock price falls back, the well-timed executive option exercise is a life-changing experience. More formally, the Black-Scholes option pricing model instructs us that the value of the executives stock option will be increasing both in the value of the underlying security and the variance (since stock options are issued at the money). So managers with a rich load of options have incentives to get the stock price high by any means necessary, fraud included. In particular, they have incentives to increase the riskiness of the firm, including projects that offer lower expected returns but higher variance. This will reduce the value of the firm for risk-neutral shareholders but has the potential to increase the value of managers firm-related investments in cases where the gain in option holdings exceeds the loss to human capital. Managers become risk-preferring. Enron Jeffrey Gordon Prospect theory, real option theory and the managerial power approach all together would complement agency theory to bring the theory of executive remuneration closer to reality. On the other hand, theoretically, being the main stream theory of corporate governance, agency theory suggests effective executive remuneration should align managers interests with shareholders interests in order to minimize agency costs (Florackis, 2005; Bayless,2009). Most remuneration frameworks in the literature have been largely influenced by agency theory. However, notable divergences exist between thepredictions of agency theory and reality. There is a need to extend agency theory with some complementary theories to make executive compensation more realistic. We find that the executive remuneration design derived from a single agency perspective is insufficient. Prospect theory, real option theory and managerial power approach all together would complement agency theory to bring the theory of executive remuneration closer to reality. Che, Zhang,Xiao and Li Empirical support for agency theory has been demonstrated in numerous settings. For example, Eisenhardts (1988) studies of retail stores show support for agency theory in salaried and commissioned salespeople. Acquisitions and divestitures were the focus of a study by Argawal and Mandelker ( 1 987). Conlon and Parks ( 1 990) examined performance-contingent compensation as the dependent variable and found support for agency theory. Support has been found in interorganizational joint ventures (BalakrishnanandKoza, 1993) and franchising (e.g., Agrawal and LaI, 1995). Although not an exhaustive review, this brief list gives adequate evidence that agency theory has been empirically tested and supported in a variety of contexts from retail sales to manufacturing to joint ventures. Given this body of evidence, it would be naÃÆ' ¯ve to claim that agency theory has not made a contribution to the principal-agent literature. Indeed, it has made a significant contribution. Thus, it is not my intent to discredit agency theory. However, a rational course is to separate the premises and examine them in a new light. By realizing agency theorys limitations, we can add to its strength. Droege, Scott B Agency theory can be considered to be the most widely used theory to explain executive1 compensation. Agency theory, from economics, focuses on ways to make the governance system of a corporation more efficient so that shareholders interests and performance expectations are realized by the Chief Executive Officer (CEO). The failure to find a consistent link between executive compensation and a firms performance has motivated some authors to supplement agency theory with other theories originating in psychology and sociology (e.g., Ungson and Steers, 1984; Wiseman and Gomez-Mejia, 1998; Bainbridge, 2005; Gomez- Mejia et al., 2005; and Perkins, 2008). It should be explicitly mentioned here that it is not our objective to replace agency theory with other theories. Rather, we recommend adding other theoretical lenses, originating in other paradigms, to make our understanding of executive compensation more complete. While discussing each of the theories, it will become clear that rather than taking a single theory perspective, it is preferable to take a multi-theory approach to explain the complexities of executive compensation. This is also a logical consequence of the use of three paradigms. Under such an approach, different paradigms and theories together serve to explain executive compensation better and more completely than opting for a single theory or paradigm. Over the last decades, hundreds of studies have been published in the field of executive compensation. Agency theory was found to be the dominant framework. This theory puts forward the relationship between firm performance and executive compensation as one of the mechanisms to reduce agency costs. The inability to find a consistent relationship between performance and executive compensation, however, has given rise to the development of alternative theories. The most popular alternative theories include managerialism theory, institutional theory and contingency theory. Strong support was found for taking such a multi-theoretical and multi-disciplinary view of executive compensation. The control perspective (agency theory), which has historically been the main perspective, has to be enriched with behavioral, institutional and contingency factors. Baeten, Xavier; Balkin, David In the aftermath of the global financial crisis (GFC) governments lost confidence in market fundamentalism and realised the inadequacies of regulatory measures. The purpose of this paper is to outline the proximate causes of the financial crisis of 2007-2009 and to investigate the role of the shareholder wealth maximization (SWM) objective in the GFC. The case studies revealed that unethical behaviour, agency issues, CEO compensation, creative accounting and risk shifting are some of the side effects of SWM. These cases indicate that the assumptions on which SWM are based are questionable. Further, it can be argued that the root cause of the GFC is excessive greed and the single-minded pursuit of SWM. The global financial crisis (GFC), which had been threatening for some time, began to display its effects in the middle of 2007 and into 2008. Around the world, stock markets have fallen, large financial institutions have collapsed or been bought out, and governments in even the wealthiest nations have had to develop with rescue packages to bail out their financial systems. Had all boards of directors being successful in their assigned role of protecting all stakeholders of the firm, rather than just shareholders, then we believe that the GFC would have been avoided. Most business concern is focused on profit maximisation. However, profit maximisation fails for a number of well-known reasons; it ignores: the timing of returns; the cash flows available to shareholders; and risk. Without explicitly considering these factors, higher earnings alone do not necessarily translate into higher share prices. Damodaran (1999) explains that, in the real world, managers perform the decision-making function with four factors or linkages in mind: shareholders, bondholders, society and financial markets. Competitive market conditions place significant pressure on agents and managers who will be tempted to resort to unethical means to portray a positive picture. It is acknowledged that the wealth maximisation objective is not always compatible with a firms social obligations, and it usually involves an agency problem which arises when the managers fail to act in the best interests of the shareholders, preferring instead to benefit themselves ([20] Jensen and Meckling, 1976). Differences in the objectives of ownership and management lead to agency costs; if these are to be controlled, the shareholders must maintain a strict watch over the functioning of the company. The managers should be rewarded for acting in the interests of the shareholders and the managers should maintain a balance between the interests of the shareholders and other stakeholders. In this context, the GFC highlighted the important influence that incentive structures within financial institutions and other businesses can have on risk-taking and financial performance. In particular, it highlighted the dangers of badly designed remuneration incentive arrangements leading to excessive risk-taking, poor financial performance and a bias towards short-term results at the expense of longer-term financial soundness ([26] Mortlock, 2009). It is well documented that executive compensation packages should be designed to align the interests of senior management with those of the shareholders and thereby reduce the dysfunctional behaviour of managers; this is typically done by rewarding executives for taking decisions and actions that increase shareholder wealth ([26] Mortlock, 2009). Unfortunately, the shareholders (and directors) may have neither complete information about the actions of executives or the expertise to evaluate those actions, making it difficult to base compensation on actions alone. Instead, compensation in practice is often linked to measures that are positively correlated with managerial performance, for instance market share, share price or accounting profit. Stock options became an ever greater part of executives compensation, increasing from 27 per cent in 1992 to 60 per cent in 2000. Fixed salary will reduce the risk to the executives and guarantee a standard of living. On the other hand, it may not encourage them to improve their performance in order to maximise shareholder wealth. The use of golden handshake and golden parachute clauses in management contracts may also be driven by managers acting to further their own interests, rather than those of their shareholders. [25] Matsumura and Shin (2005) characterized conflicts of interest between shareholders and managers as usually arising in three broad areas. First, executives enjoy (as well as exploit) the perquisites provided to them. Second, executives are more risk averse in decision making and aim for better compensation as a trade-off. Lastly, executives are more interested in making decisions that have short-term impacts rather than taking a long-term perspective. By designing executive packages in a way that balances the interests of shareholders and executives, these conflicts can be reduced. The packages should be so designed to motivate the executives, whilst at the same time allowing management to control the amount spent on compensation, based on the performance of the CEOs themselves. [26] Mortlock (2009) notes that the major financial and corporate sector distress seen in the USA and Europe in recent times is partly attributable to poorly designed remuneration incentive arrangements. An examination of history reveals that a range of practices, unrelated to any major improvement in cash flows and/or profits, have been carried out with the intention of increasing wealth; for example: accounting manoeuvres with deceitful intention and accounting fraud (in the case of Xerox), improper accounting, deviation from accounting principles with deceitful intention, leveraging of shares to raise debt for expensive acquisitions (as in the case of WorldCom), stretching the limits of accounting by misusing its limitations, lack of transparency, intentional projection of a rosy picture of performance (in the cases of Enron and Arthur Anderson), massive fraud, accounting scandal (in the case of Peregrine Systems), aggressive acquisition strategies and accounting frauds (in the case of Tyco), diverting business cash into off-shore, family-owned entities, artificial support given to the stock of the company (in the case of Polly Peck), deceitful intention of elite and experienced h ands with sophisticated outlets (in the case of BCCI banks) and highly leveraged synthetic financial instruments (in the case of Goldman Sachs). Creative accounting is the manipulation of financial numbers, usually within the letter of the law and accounting standards, although its use can be unethical and does not provide the true and fair view of a company that accounts are supposed to provide ([45] Moneyterms, 2009). Common to all the cases mentioned above was managements single-minded focus on SWM. By attempting to grow the company at high speed and by using creative accounting techniques, managers had failed to foresee the detrimental affect these actions would have in the long term. It is clear that, in light of the side effects of SWM as discussed in Section 4 particularly their impact during the crisis the validity of the above assumptions has become questionable. In this regard, [19] Jenkins and Guerrera (2010) argue that the recent SEC attack on Goldman Sachs strikes at the heart of the business model, a model that, as [46] Friedman (1970) states, views the social responsibility of business being to increase its profits. However, as an agent, a manager is bound to act to maximise the wealth of shareholders, rather than to follow an agenda of social responsibility. It is clear that major issues like unethical behaviour, executive compensation, creative accounting and conflicts of interest, pushed the big entities towards major difficulties and, in many cases, collapse. Though a series of accounting regulations were designed and directed, many giant organisations found convenient loopholes to take advantage of or, if this was not possible, resorted to manipulative means, actions which ultimately contributed substantively to the financial crisis. Hull (2009) argues that the inappropriateness of extant incentive schemes led to a short-term focus in the managerial decision making. Given this situation, in February 2009, US President Barack Obama introduced new restrictions on executive compensation for institutions that receive financial assistance from the government, by limiting cash compensation to US$500,000; similarly, the USs Financial Stability Board released a set of principles aimed to ensuring effective governance of compensation and the effective alignment of compensation with prudent risk taking. These developments in turn suggest that the SWM objective is neither self-regulatory nor flawless in nature. As we have discussed in this paper, the reasons for the burst of this financial bubble are many. However, most of the factors are (directly or indirectly) linked to the pursuit of SWM. The above discussion has shown that each factor had in common the desire to increase the value of owners wealth. It appears reasonable to argue that, by forgetting the importance of ethics and deviating from accounting principles, the greed paid off. Risk shifting and dysfunctional behaviour are some of the side effects and flaws in an SWM-based system that is not self-regulatory. Because of a strong focus on profit maximisation or even SWM, the corporate decisions that led to the economic downturn were never balanced with any good citizen approach. But value maximisation alone is no longer sufficient in todays competitive global business environment; organisations need to focus on objectives that have long-term benefits rather than short-term value. By taking stakeholders and society into consideration a firm will truly begin to create sustainable wealth; while the corporate objective function is dominated by SWM this cannot take place. Yahanpath, Noel Supporters of agency theory underscore, among its positive features, the realism with which it describes relationships among individuals in a company(Eisenhardt, 1989). The firm is no longer considered as a single, monolithic actor but the complex set of interactions among several individuals. The firm is now presented as a nexus of contracts between principals and agents (Maitland, 1994; Shankman,1999). Typically, there are different goals and interests among individuals involved in an agency relationship. Agency theory presupposes that individuals are opportunistic, that is, they constantly aim to maximize their own interests (Bohren, 1998). Thus, there is no guarantee that agents will always act in the best interests of principals. Rather, there is a constant temptation for agents to maximize their own interests, even at the expense of principals. Under conditions of incomplete information and uncertainty prevalent in business settings two kinds of problems arise: adverse selection and moral hazard (Eisenhardt, 1989, p. 58). Adverse selection refers to the possibility of agents misrepresenting their ability to do the work agreed; in other words, agents may adopt decisions inconsistent with the contractual goals that embody their principals preferences. Moral hazard, on the other hand, refers to the danger of agents not putting forth their best efforts or shirking from their tasks. This divergence between the interests of the principal and the agent unavoidably generates costs. Agency costs are residual costs that result in a failure to maximize the principal_s wealth. These may be incurred by the principal through measures to control the agent_s behaviour or by the agent through efforts to demonstrate his commitment to the principal_s goals. The whole point behind agency theory is to come up with mechanisms that ensure an efficient alignment of interests between agent and principal, thereby reducing agency costs (Shankman, 1999, p.321). Principals are thus challenged to design contracts that protect their interests and maximize their utility in case of conflict. These contracts are based on several assumptions regarding agents (self-interest, limited rationality, risk aversion), organizations (goal conflict between members) and information (asymmetrical) (Shankman, 1999, p. 332). Supporters of agency theory underscore, among itspositive features, the realism with which it describes relationships among individuals in a company (Eisenhardt, 1989). The firm is no longer considered as a single, monolithic actor but the complex set of interactions among several individuals. Methodologically, agency theory subscribes to individualism: its basic unit of analysis is the human being fully constituted as an individual and bereft of any social dimension. In every endeavour individual agents seek above all their own utility (utilitarianism) or pleasure (hedonism), the satisfaction of their own desires. They form groups not to fulfil any requirement of their proper flourishing as human beings but only to further their particular interests (contractualism). Outside of this, agents do not subscribe to any moral imperative; they willingly engage in immoral conduct whenever convenient. Acting morally would be reasonable only if it presented a greater economic incentive in terms of utility and pleasure than the contrary (Bohren, 1998). Joan Fontrodona, Alejo Jose ´ G. Sison The recent spate of failures among both financial and non-financial companies has been accompanied by a growing interest in and concern about the compensation of the CEOs of major U.S. corporations. This, in turn, has reignited interest among both academics and financial practitioners about agency theory issues, especially the question of whether or not the total compensation of CEOs is properly scaled in relation to the earnings they generate for the shareholders they serve. Our null hypothesis, consistent with the popular assumption in the media, is that the secular growth of CEO compensation has become increasingly misaligned with the earnings results that CEOs have produced for shareholders. Surprisingly, our initial findings, drawing on secular trends among SP 500 firms, appear to show that our hypothesis does not hold, and that, over an extended period of time, CEOs have not received compensation that is out of line with the their companies earnings trends. Zhao, Kevin M; Baum, Charles L; Ford, William F 2.0 Diagnosis of Problems and Theoretical Analysis 2.1 Organisational Change 2.2 Conflict Cognitive Dissonance 2.3 Communication 2.4 Leadership 3.0 Recommendations 3.1 Organisational Change Management Recommendations 3.2. Conflict Management Recommendations 3.3. Communication Recommendations 4.0. Conclusion

Feminist Perspective on Eighteenth Century Literature Essay -- feminis

Feminist Perspective on Eighteenth Century Literature Feminism during the eighteenth century has come to be defined by the literature of the time. Women, who did not have as many outlets as they do today, expressed their political opinions through literature itself. Although feminist texts existed before the end of the century, women writers in the final decade were seen as more threatening to the dominant patriarchal system. Following the overthrow of the government in France, women in Britain believed that "a revolution in sentiments, manners, and moral opinions was possible in their own country" (5). Writers such as Mary Wollstonecraft reacted to the conservative patriarchal society by "[drawing] parallels between the domestic and the political, between the private and the public, in their fiction" (155). While all women did not attempt to reconstruct the gender roles of her time, the women who sought to equalize the positions of men and women were labeled as monstrous or "unsexed." Male authors of the late eighteenth century saw the patriarchal hereditary government as tyrannical and viewed Kings as animals. Writers such as Tom Paine, William Godwin, Thomas Holcroft, and Robert Bage believed "reason should decide issues of human affairs, not power based on money, age, rank, sex, or physical strength" (10). Men also saw the possibility of a revolution but only in terms of class structure. Although most male authors were sympathetic to the plight of women, they recognized the need to minimize class distinctions as more important than gender. Nevertheless, male appeals to humanity ironically inspired and became models for revolutionary women writers. Women writers later adopted this emphasis on individual abilities r... ...ewed women as naturally subordinate to men, women writers attempted to challenge this ideology and assert the need for change. The revolution in France, and the belief in the possibility of Britain's own revolution, led some women to adopt inappropriate outspoken tactics. However, these radical women were given derogatory labels which ultimately prevented other writers from directly challenges the system. Nevertheless, women writers during the final decade of the eighteenth century "politicized the domestic or sentimental novel in response to oppression and exclusion." In their fiction they challenged the roles of women in education and in the household. While they were not tremendously successful, the women of this time made recognizable to the public the importance of changing the role of women in society, and provided an impetus for the entire feminist movement.

J. Edgar Hoover Essay -- essays research papers fc

J. Edgar Hoover Former Senator Joseph McCarthy put it perfectly when he said, â€Å"†¦ for the FBI is J. Edgar Hoover and I think we can rest assured that it will always be.† (qtd. in Denenberg 7). J. Edgar Hoover is credited for reconstructing the Bureau of Investigations (later renamed Federal Bureau of Investigations). Regardless of how people saw him, Hoover was powerful and committed, and did everything within his power to improve the agency that would make this country a safer place for all. John Edgar Hoover was born New Years Day in 1895. After years of education and law school he started as a third generation government worker in July 1917 as a clerk for the Justice Department (Denenberg 23,25-26). In 1919 he was promoted to acting director and later to director in 1924. He ran the FBI until his death on May 2, 1972 at the age of 77 (DeLoach 226). With all of the changes to the system that occurred because of his hard work, J. Edgar Hoover is referred to as the â€Å"father of modern-day law enforcement† (DeLoach 226). Hoover can take credit for separating the Bureau from politics, raising standards for agents, and implementing many other necessary crime programs (DeLoach 226-227). Most people were frightened of Hoover and this caused an attempt to portray him, through the media, in a manner that was far from complimentary (DeLoach 228). It is very difficult to find positive information about him; but no one can deny the hard work and accomplishments he made for the good of this country. To this day, he is the longest-serving leader of an executive branch agency, having served through the terms of eight presidents. He had good standing relationships with all the presidents regardless of their political position. Herbert Hoover (no relation) recommended J. Edgar Hoover to the attorney general for his director position with the Bureau based on his previous performances. No president came close to firing him (Hoover 34-35). For almost three generations, and even now, it is almost impossible to think of the FBI without thinking of Hoover. Democrats accused him of being Republican just as Republicans accused him of being Democrat. Hoover himself was not political. He was just as skeptical, scornful and vindictive in the treatment of right-wingers and left-wingers he didn’t like (Hoover 40). Hoover swept through the department and fired agents with questionable ... ...velt to obtain communications and tactics of suspected spies and war enemies. Though controversial it terminated the largest spy ring in operation in this country (Denenberg 79-81; Directors). Through the years Hoover’s dedication in raising the importance if the FBI helped to expand the Bureau’s jurisdiction and responsibilities (Directors). J. Edgar Hoover’s record of notable government service has never been matched. He transformed the bureau from a badly managed, corrupt organization to a quality law enforcement agency. As its size and budget have increased over the years, its reputation for competence and integrity has declined. It has lost most of the respect that it enjoyed in Hoover’s day. Works Cited Denenberg, Barry. The True Story of J. Edgar Hoover and the FBI. New York: Scholastic Inc.,   Ã‚  Ã‚  Ã‚  Ã‚  1993. DeLoach, Cartha. â€Å"J. Edgar Hoover.† Booknotes: Life Stories. Ed. Brian Lamb. New York:   Ã‚  Ã‚  Ã‚  Ã‚  Random House, 1999. Directors: Then and Now. Home page. Federal Bureau of Investigation. 1 July 2004 . Hoover, J. Edgar. â€Å"J. Edgar Hoover Speaks Out.† By Jack Wooldridge and Wilbur Martin. Nation’s Business January 1972: 32-45.

Samsung Electronics

Submitted by: Aneesa Amjad INTRODUCTION6 SAMSUNG VALUE AND CODE OF CONDUCT6 Business Principles7 ?We promote health and safety. 7 ?We are a socially responsible corporate citizen. 7 ?We comply with laws and ethical standards. 7 ?We maintain a clean organizational culture. 7 ?We respect customers, shareholders and employees. 7 ?We care about environment. 7 Samsung Values8 ?People8 ?Excellence8 ?Change8 ?Integrity8 ?Co-prosperity8 Samsung Philosophy9 NEW VISION9 HUMAN RESOURCE DEPARTMENT9 Vision and Mission10 HRD Philosophy10 JOB ANALYSIS11 RECRUITMENT11 Recruitment tools11 Newspapers:11 Online Recruitment (e-cruitment):11Educational Institutes:12 E-mails:12 4/5 Grade Recruitment12 Selection process12 Application Form12 Document Screening13 SSAT13 Interview13 Physical examination14 Join Samsung14 3 Grade Recruitment14 Person with career and doctorate possessors14 ?Samsung Shared Value program (SVP)15 ?Samsung Business Leader Program (SLP)15 ?Samsung Global Expert Program (SGP)15 SAMSUN G RESEARCH CENTER16 MANAGERIAL DEVEOPMENT AND TRAINING16 TRAINING AND DEVELOPING16 HRD PROGRAMS17 ?SVP New employee Orientation17 ?SVP Samsung summer festival17 ?SLP17 ?Samsung MBA Course17 ?SLP Executive development Course18 SLP Senior Executive development Course18 ?SGP18 ?SGP Regional Specialist course18 ?SGP Premier Course19 ?SGP Overseas Country Manger Development Course19 ?SGP Global Leader Course19 ?SGP Language Course19 EDUCATION IN 201020 PERFORMANCE APPRAISAL20 EMPLOYEE BENEFITS21 ?Group insurance21 ?Physical exams21 ?Financial aid for medical costs21 ?Congratulatory/condolence pay21 ?Use of leisure facilities21 EMPLOYEE HEALTH22 Employee Health and Disease Management22 ?Health Research Center22 ?Mental Health22 ?Employee Health Management23 EMPLOYEE WORK-LIFE BENEFITS23 ?Work & Life Balance23 RETIREMENT BENIFITS23 Outplacement Program23 ?Major Reasons of Retirement24 COMPENSATION PLANS24 LABOR POLICIES25 ?Child Labor and Forced Labor25 ?Labor Union Policy and Labor Counci l25 INTERVIEW QUESTIONS26 Exhibits31 Staffing Manager33 Samsung Electronics America- Ridgefield Park, NJ (Greater New York City Area)33 Job Description33 Desired Skills & Experience34 INTRODUCTION From its beginning as a small export business in Taegu, Korea, Samsung has grown to become one of the world’s leading electronics companies, specializing in digital appliances and media, semi-conductors, memory, and system integration.Today Samsung’s innovative and top quality products are world recognized. It’s a global company with approximately 190,000 employees and is operating in 61 countries worldwide. SAMSUNG VALUE AND CODE OF CONDUCT Samsung Electronics is fully committed to complying with local laws and regulation as well as applying a strict global code of conduct to all employees. With an aim to become one of the most ethical companies in the world that is respected by its stakeholders, Samsung Electronics continue to train its employees and operate monitori ng systems while practicing fair corporate management.The code of conduct includes elimination of nationality or gender discrimination, transparent disclosure of business information, customer information protection and partner collaboration. All of Samsung Electronics employees will have to follow this code of conduct in their relationship with their colleagues and customers. Business Principles Samsung Electronics announced the Five Samsung Business Principles† in 2005, and it serve as the foundation for its global code of conduct in compliance with legal and ethical standards. (Exhibit 1) These five business principles are as follows: We promote health and safety. * We are a socially responsible corporate citizen. * We comply with laws and ethical standards. * We maintain a clean organizational culture. * We respect customers, shareholders and employees. * We care about environment. Samsung Values Samsung believes that the key to good business is to live by strong values. A t Samsung, code of conduct and these core values are at the heart of every decision they make. (Exhibit 1) * People At Samsung, a company is its people and they are dedicated to giving their people a lot of opportunities to reach their full potential. * ExcellenceEverything they do at Samsung is driven by a passion for excellence and a persistent commitment to develop the best products and services on the market. * Change In today’s world due to globalization, change is constant and innovation is very important for a company’s survival. And Samsung have done that for 70 years, they set their sights on the future, predicting market needs and demands so that they can achieve long term success. * Integrity The foundation of their business is that they operate in an ethical way. Everything they do is guided by a moral compass that ensures fairness and respect for all stakeholders. Co-prosperity A business cannot be successful if it does not create prosperity and opportunit y for others. Samsung is socially and environmentally responsible corporate citizen in every community where they operate around the globe. Samsung Philosophy At Samsung, they follow a simple business philosophy: to devote their talent and technology to creating superior products and services that contribute to a better global society. Everyday their people bring this philosophy to life. Their leaders search for the brightest talent from around the world, and give them the resources they need to be the best at what they do.The result is that all of their products have the power to improve lives. (Exhibit 1) NEW VISION â€Å"Inspire the world, create the future† This new vision shows that Samsung Electronics is committed to inspire the world by leveraging Samsung’s three key strengths: â€Å"New Technology†, â€Å"Innovative Products†, and â€Å"Creative solutions. † and to promote new value for Samsung’s core networks—Industry, Partne rs and Employees. (Exhibit 2) Samsung has planned to become one of the world’s top five brands by 2020. Samsung has also established three strategic approaches in its management, â€Å"Creativity, Partnership, and Talent.HUMAN RESOURCE DEPARTMENT To achieve long term goals, human resource department plays a very important role. Employees are its most important asset. Human resource department plays a crucial role in the company’s success. Samsung Electronics believes that human resources and technology development both have separate functions and both are important to overall quality management. For the success of Samsung electronics it is very important that all employees enjoy doing their jobs and gets along with each other in the company.Vision and Mission Samsung has its own Human Resources Development Center. The aim of Samsung Human Resources Development Center is to become the world’s best HRD center and to develop people with creativity, passion and a c hallenging spirit who will make Samsung the world’s leading company in the 21st century. Samsung HRD Center devotes itself to carry the management philosophy into practice, spread Samsung Values, play a centripetal part to bring the values and actions of Samsung people toward one direction, lead the creative innovation nd change in the global era, and support the global management as the leader of the globalization. HRD Philosophy Since its foundation, Samsung has focused on and respected people with â€Å"A company is its people†. Samsungs management philosophy and traditions have become the key driving force of materializing its continuous growth and making it one of the world’s best companies. Since its introduction to open recruitment system in 1957, Samsung has developed its people in earnest. For about 50 years, Samsung has continued its history and tradition of developing people.After Samsung HRD established HoAm-Kwan in 1982 and Chang Jo Kwan in 1991 to implement â€Å"Samsung with high potentials† as the birthplace of educating Samsung people, they have played an important role of maintaining, succeeding, and developing the culture of Samsung. JOB ANALYSIS When a new position is established, the Human Resources department prepares a job analysis clearly identifying the positions responsibilities and overall relationship to the company. (Exhibit 3) RECRUITMENT Samsung Research Center intends to recruit, hire and place applicants on the basis of the applicant’s relative knowledge, skills and abilities.The decision to employ an applicant will be based solely on the individual’s qualification for the particular position along with other requisite job skills. Recruitment tools Upon getting informed the HRM Department invites a wide pool of applicants through any or all of the following mediums. Newspapers: Vacancies are advertised on leading newspapers. Online Recruitment (e-cruitment): Application forms are availa ble online at Samsung website and interested candidates can fill and submit them online. Educational Institutes:The HRM Department conducts annual job fairs in various educational institutes in which presentations about job prospects and the company is given. E-mails: Interested candidates can email their CVs to HRM Department, which are then collected in a file and consulted whenever job opportunities arise. 4/5 Grade Recruitment This is the recruitment for the production/manufacture class. It proceeds with announcement when there are vacancies. The selection process is given below: Selection process Application Form Document Screening SSATInterview Physical Examination Join Samsung Application Form The employment application is candidate’s first chance to present his qualifications to the organization. As such, it is extremely critical for his/her continued participation in the examination process. Before beginning, one has to review thoroughly what the Job Announcement spe cifies as the requirements to qualify for the position. Candidate must meet these criteria to be considered for the position; ensure that, otherwise candidate will be wasting his/her effort in completing the application.Document Screening They screen the documents provided by applicants on the basis of job requirement. Those who do not fulfill job requirements are screened out during this step. Those who are passed through this step have to take Global Samsung aptitude test. SSAT Samsung aptitude test is designed to determine level of technical and/or analytical abilities associated with the particular position for which candidate had applied. Interview The List of Eligible Candidates is established after SSAT and then it is sent to the Department(s) that is hiring to fill a current vacancy.The Department Head is responsible for setting up selection interviews. Further the management of Samsung takes three types of interviews 1. First interview is taken by the HR manager which they name as â€Å"initial interview. 2. Manager of department, HR Manager and two V. P takes the second interview. 3. Structured sequential interview is taken by HR manager and C. E. O The Department Head will be looking for the candidate with the best qualifications for the particular position. Physical examinationThe candidates who are selected to fill the vacancy will undergo a medical examination, drug screen, background investigation, and a probationary period before attaining permanent employment status. Join Samsung After checking all physical exams, medically fit candidates are called to fill the vacancy. 3 Grade Recruitment This is the recruitment for Management/the Management support department, various Research and Development organizations. It is processed with dear Samsung job advertisement. The same selection process is being followed for 3 grade recruitment as well.Person with career and doctorate possessors When there is a vacancy in each department, the resume of appli cants are reviewed by the HR department and they make contact with the applicant on the individual basis. Application Form Individually contact with applicants Interview Physical Examination Join Samsung HRD STRATEGY To create innovation and challenge, Samsung HRD center develops human resources by the following three programs: SVP, SLP and SGP * Samsung Shared Value program (SVP) To achieve â€Å"Samsung toward one direction† by sharing Samsung values (Future Management) cultivate next generation leaders Samsung Business Leader Program (SLP) To become â€Å"world leading company† by developing leaders of the next generation (Trust Management) Share core values of Samsung * Samsung Global Expert Program (SGP) To achieve â€Å"Global Samsung† by developing global competencies (Globalized Management) Develop Global Competency SAMSUNG RESEARCH CENTER Samsung Research center is an innovative organization offering unlimited opportunity to those who struggle to develo p and grow to their fullest potential. They work together to bond individual achievement with company goals.The rewards for superior performance come personally as well as professionally. To create an environment where everybody feels a close relationship with the company, understands its policies and operation is one of the priorities of Samsung research center. MANAGERIAL DEVEOPMENT AND TRAINING Samsung electronics have in- house development center (human resource development center) and universities. They combine classroom learning (lectures and seminars) with other techniques such as assessment centers. TRAINING AND DEVELOPINGSamsung Electronics assesses individual work capabilities according to job function and offers a wide range of training opportunities to nurture all employees into experts in their respective fields. To provide all employees, including those based overseas, with access to comparable levels of training programs regardless of location, they have set up a glob al education portal and mobile education system led by the HR Development Center, and diverse programs are offered through training departments according to business division and work function.There are a lot of programs which Samsungs’ HR department follows to train and develop their employees and they are as follows: HRD PROGRAMS * SVP New employee Orientation This course is to develop Samsung people for the 21st century to have the basic quality for Samsung people and proper business creed. The 4 week course helps new recruits understand the history, tradition, key values, and management philosophy of Samsung, in addition to building teamwork, creativity, and a challenging spirit through various experimental learning. * SVP Samsung summer festivalThis festival is to enhance group identity and pride as Samsung people, CEOs of affiliates, new executives, global leaders in overseas offices and branches, representatives from various classes as well as new recruits participate in this course, which is held every June, and this course acts as a cultural and value group activity for all. * SLP It develops high potentials who will lead the future of Samsung and fosters them as the leaders of the next generation. * Samsung MBA Course This course is to expand the pool of potential leaders of the next generation of Samsung.Every year since 1995, Samsung has selected qualified Samsung people and allowed them to study in famous overseas or local business schools for two years to learn practical management knowledge and global management. * SLP Executive development Course This course is to develop the leaders of the next generation who have global competitiveness and all around management competency. Qualified general managers learn global business management competency, leadership development, and problem solving in the field via action learning through this five month course. SLP Senior Executive development Course This course is to encourage the management lea ders of the next generation who have strategic thinking abilities and management insight. Elite senior executives learn business modules to boost their global competitiveness and advance leadership development focusing on value, and perform various activities through action learning in this four month course. * SGP It is Samsungs global competency enhancement program that develops global business competency and foreign language skills. * SGP Regional Specialist courseThis course is to develop global experts with global sense as the spearheads of globalization in the 21st century. Since 1990, every year, qualified Samsung people have been dispatched to the world including North America, Europe, china, Japan, East Asia, West Asia, and Central and South America for 1 year to acquaint themselves with local business customs and cultures through various experiences for localization of Samsung people. * SGP Premier Course This course is to encourage global leaders who have excellent foreig n language ability and global business competency.For foreign language ability, Samsung people focus on learning how to communicate effectively and speak in foreign languages at the advanced level. For business competency, they focus on developing their global business skills through the best practices of management and learning how to accept different cultures. * SGP Overseas Country Manger Development Course This course is to develop global leaders and executives for overseas offices. Samsung people who will be and are already dispatched to overseas offices learn the practical management and management research for their overseas offices, leadership development and global mind. SGP Global Leader Course This course is to provide overseas executives and managers with a deeper understanding of Samsung values to enhance awareness of a shared value community. The course’s highlight is to participate in the Samsung Summer Festival at the end of the course. * SGP Language Course S amsung people who will be dispatched to overseas offices or they have to handle foreign related works learn ten weeks of English, Japanese, Chinese or Spanish to enhance the foreign language ability. EDUCATION IN 2010 Samsung Electronics continues to enhance employee competencies by utilizing online and offline education programs.Education enhances the effectiveness of employees by offering more online and mobile course. PERFORMANCE APPRAISAL Samsung Electronics evaluates performance of all its employees against a consistent goal. Required capabilities by position are identified, based on which capability performance is conducted. The jobs are evaluated on yearly basis under 360o method; the competent employees are rewarded in shape of promotions, bonus, increments and annual holidays and promotion. The results of an appraisal can be used to identify areas for further development of the employee.The organization also uses different questionnaires, which consist of numerous questions about the behavior of the employee, and then on the basis of these answers personality of the employee is judged. When evaluation is made the unsatisfactory performers are given warning. The employee after warning is put under observation, for some period of time and if the employees’ performance is still unsatisfied then are demoted or fired. Samsung SDI has institutional means up and running to guide fair and understandable evaluation and for the evaluated to defend themselves.If the evaluated submits an application to file a protest within five days after disclosure of evaluation results, HR committee is convened with the evaluator and the evaluated present and adjusts the results, if necessary. INCENTIVE PLANS Individual performance determines individual capability reward and group performance determines Productivity Incentive (PI) and Profit Sharing (PS). EMPLOYEE BENEFITS They offer benefits to their employees required by law as well as internal benefit programs to enh ance quality of life for employees.Both regular employees and those working on contract basis can take advantage of numerous benefits which include: (Exhibit) * Group insurance * Physical exams * Financial aid for medical costs * Congratulatory/condolence pay * Use of leisure facilities In 2010, they increased the physical exam components to promote the health of employees. Other benefits offered to employees are as follows: EMPLOYEE HEALTH Samsung Electronics makes every effort to create a safe and pleasant work environment. All of their production plants have obtained OHSAS18001 certification for occupational health and safety management system.Senior executives of the company have special interest in recent concerns on workers’ cancer risk. From July 2010, they have commissioned a leading international environment and health consultancy to conduct an epidemiologic survey to ensure objectivity and transparency in the survey findings. This objective investigation is expected to cover every possible cause and clear up suspicions completely. Employee Health and Disease Management * Health Research Center They have opened the health research center in April 2010.The Samsung Electronics Health Research Center was established under the Semiconductor Business to carry out mid- and long-term research projects related to employees’ health and wellbeing. The center is manned by researchers in health sciences, medicine, chemical engineering, pharmacology and nursing. It is conducting research into matters such as hazardous chemical substances, work environment and epidemiology, and new substance manufacturing processes. * Mental Health They have expanded psychological evaluations in the regular physical exam from 2011 to help employee’s better cope with emotional strain and stress.The evaluations will check whether employees suffer from any conditions caused by stress related to problems with work or their personal lives. If necessary, employees wi ll be able to receive professional counseling based on online and offline diagnoses. These measures help employees lead healthy and productive lives. * Employee Health Management As part of efforts to promote employees' health and maintain a pleasant work environment, they offer customized health management programs including programs for weight loss, smoking cessation and emotional health.They also operate a center for the prevention of musculoskeletal diseases which allows employees to check their spinal health. (Exhibit ) EMPLOYEE WORK-LIFE BENEFITS * Work ; Life Balance Work hours are continuously monitored at Samsung Electronics to promote work-life balance. In particular, they have introduced a flexible time program for administrative staff so they can set their own work hours to enhance quality of work life. Work hours at the global production subsidiaries are adequately managed according to local employment standards nd the Electronic Industry Citizenship Coalition (EICC) gu idelines. RETIREMENT BENIFITS * Outplacement Program Up through 2010, they have provided assistance for 2,216 retiring employees find new jobs or start a business through the career development centers. In 2010, they signed an agreement with the Korea Federation of Small and Medium Business to help seasoned specialists find new jobs at small and mid-size enterprises. In 2011, they offered career planning courses for incumbent employees. (Exhibit) * Major Reasons of RetirementKorea Overseas 1. Study 1. Change of Occupation 2. Change of Occupation 2. Family Reason 3. Health Problem 3. Study 4. Domestic Affairs 4. Health problem 5. Contract Expiration 5. Dissatisfied with Type of Work COMPENSATION PLANSIn 2010, Samsung Electronics made upward adjustments in the salaries of all employees and applied a system of accumulated annual salary for individual workers to differentiate compensation according to performance. Samsung’s compensation scheme is based on ‘compensation wi thout discrimination and compensation for performance’ to ensure internal impartiality and external competitiveness. Those on the same position are given same amount of base salary disregarding gender, nationality, religion, social status, and age. On top of it, differentiated compensation is made according to individual performance.LABOR POLICIES * Child Labor and Forced Labor Discrimination, forced labor and child labor are prohibited in accordance with articles 4, 6 and 16 of the company’s rules of employment. In addition, they strictly abide by the 24 ILO conventions ratified by the Korean government. In 2010, there were no violations of laws and regulations related to child labor and forced labor. * Labor Union Policy and Labor Council Samsung’s basic HR policy is summarized in the following statement: â€Å"The workers and the company will cooperate for mutual advancement based on the principles of co-existence, co-prosperity and harmony. Samsung Electron ics strives to provide superior working conditions relative to its peers so that employees do not feel the need for a labor union. All of their business sites across the globe have a labor council to facilitate dialogue between labor and management. Other major communication channels include the GWP committee and safety council. Each of their business sites in Korea has a worker council. Each worker council holds at least one regular meeting per quarter. The council also gathers when the need arises to discuss matters such as salary adjustments.It enables grievances and requests to be swiftly conveyed to management so that the necessary corrective measures can be pursued. Due consideration was given to employees’ requests to improve the work environment. In 2010, the worker council addressed several issues through expanding the flexible time program, establishing infrastructure for stress relief, and improving office environment. INTERVIEW QUESTIONS ———â €”————————————- What are Samsung values and code of conduct? ————————————————- _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What tools do you use to recruit job candidates?Like do you use advertising, employment agencies, college recruiting or some other method? _________________________________ ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Do you prefer outside candidates or inside candidates? _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What types of test do you use to measur e a wide range of candidate attributes? _______________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ Do you check applicant’s background before selecting him? ————————————————- __________________________________________________________________________________________________________________________________________ _______________________________________________________________________________________________ What is the selection process of Samsung? ____________________________________________________________________________________________________________________________________________________________ ____________________________________________________________________________________________________________________________________________________________ What type of interviews is done at Samsung? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What is the HRD strategy of Samsung? _____________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ___ ————————————————- What is the function of Samsung Research Center? ————————————————- ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What are HRD programs implemented for training and developing employees? __________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ ___________________________________________________________________________________________ What education programs are being offered at Samsung? ________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ What types of benefits are being offered to employees at Samsung? _____________________________________________________________________________

Labor Systems Essay

There was a decrease in the popularity/ usage of forced labor systems. This was caused by Enlightenment thinking and the recent achievement of the Haitian revolution. Most of the movements that led to this usefulness were led by Simon Bolivar. In the Caribbean, bondage was abolished. It was abolished several years before separate regions like the US because of pressure from British labor unions. However, even though thrall was legally abolished, slaves were still obligated to tab put with their masters and take on apprenticeships. Women became to a greater extent than than than involved in society.Women came to Latin America, in the first place indentured servants, and they were given go bad. This was not a large breakthrough though because the muchover jobs they were given would be domestic play like being house servants or maids. Changes There was a decrease in the popularity/ usage of forced labor systems. This was caused by Enlightenment thinking and the recent a chievement of the Haitian revolution. Most of the movements that led to this proceeds were led by Simon Bolivar. In the Caribbean, bondage was abolished. It was abolished several years before an an opposite(prenominal)(prenominal) regions like the US because of pressure from British labor unions.However, even though slaveholding was legally abolished, slaves were still obligated to stand by with their masters and take on apprenticeships. Women became more involved in society. Women came to Latin America, chiefly indentured servants, and they were given take shape. This was not a large breakthrough though because the that jobs they were given would be domestic lap like being house servants or maids. Changes There was a decrease in the popularity/ usage of forced labor systems. This was caused by Enlightenment thinking and the recent victory of the Haitian revolution.Most of the movements that led to this benefit were led by Simon Bolivar. In the Caribbean, bondage was ab olished. It was abolished several years before opposite(a) regions like the US because of pressure from British labor unions. However, even though thralldom was legally abolished, slaves were still obligated to catch with their masters and take on apprenticeships. Women became more involved in society. Women came to Latin America, principally indentured servants, and they were given manoeuver. This was not a large breakthrough though because the just now jobs they were given would be domestic lap like being house servants or maids.Changes There was a decrease in the popularity/ usage of forced labor systems. This was caused by Enlightenment thinking and the recent victory of the Haitian revolution. Most of the movements that led to this betterment were led by Simon Bolivar. In the Caribbean, thrall was abolished. It was abolished several years before other regions like the US because of pressure from British labor unions. However, even though bondage was legally abolish ed, slaves were still obligated to stick around with their masters and take on apprenticeships. Women became more involved in society.Women came to Latin America, chiefly indentured servants, and they were given work. This was not a large breakthrough though because the moreover jobs they were given would be domestic work like being house servants or maids. Changes There was a decrease in the popularity/ usage of forced labor systems. This was caused by Enlightenment thinking and the recent mastery of the Haitian revolution. Most of the movements that led to this betterment were led by Simon Bolivar. In the Caribbean, bondage was abolished. It was abolished several years before other regions like the US because of pressure from British labor unions.However, even though slavery was legally abolished, slaves were still obligated to blockage with their masters and take on apprenticeships. Women became more involved in society. Women came to Latin America, in general indenture d servants, and they were given work. This was not a large breakthrough though because the only jobs they were given would be domestic work like being house servants or maids. Changes There was a decrease in the popularity/ usage of forced labor systems. This was caused by Enlightenment thinking and the recent winner of the Haitian revolution.Most of the movements that led to this return were led by Simon Bolivar. In the Caribbean, slavery was abolished. It was abolished several years before other regions like the US because of pressure from British labor unions. However, even though slavery was legally abolished, slaves were still obligated to stay with their masters and take on apprenticeships. Women became more involved in society. Women came to Latin America, mainly indentured servants, and they were given work. This was not a large breakthrough though because the only jobs they were given would be domestic work like being house servants or maids.

National Integrity and Communal Harmone

syllabus VITAE M shibah Kumar c/o M. B. Achary Pl-no-23/ instantly no-h2 Swati shikhara appts Huda complex Saroor nagar Mobile No 91-9866032385 Residence 040-24043403 Hyderabad. e-mailemailprotected com Objective Looking for a challenging chance in a globally respected transcription that will provide me an opport building blocky to work on state-of-the-art technologies and allow me to contribute as a positive factor in the progress of the company. educational Qualification Degree/ College/ install University/Board social class Of Class Of Study Completion BHM Greenfields College of Hotel Osmania university 2007 (bachelor of Management, Hyderabad. hotel attention) 10 + 2 Kendriya vidyalaya unit ix BBSR AISSCE 2004 DHTM International Institute of Hotel Set win 2002 (diploma in Management, hotel and Hyderabad catering management) Kendriya vidyalaya unit ix BBSR Central Board of Secondary direction 2000 10th Industrial Exposur e ? Completed 16 weeks Training from hotel Green park Hyderabad ?Worked for Kebab & Beer fete organized in Taj Residency, Hyderabad Experience ? Presently operative with dominos pizza India limited a unit of jubilant food works as a store conductor over a menstruation of time of 2 . 5years (Emp code-450866) ? Worked with cafe latte as a shift in charge for a period of over 2 years JOB RESPONSIBILITIES ? creditworthy for smooth operations of the store ensuring the availability of deport and staff ?Ensuring all the necessary operation levels be maintained includes gas petrol electricity and diesel motor routine check ups of bikes gensets ovens and infrastructure ? Assigning pedigree responsibilities and training to the entire staff with respect of carrefour people and material ? Checking the inventory management and confirm the reason for the variances ? Promoting the store in different localities by using different marketing tools and regular visits to embodied for bulk orders ? Managing 17 members team which includes 5 speech boys 3 customer service representatives (order takers) 4 combination members and 2 associate mangers 2 assistant managers and wholeness training ace ? To solve the customers concerns with great tending and empathies ?Preparing the monthly profit &loss statement in association with the district manager ? Managing vendor tie in issues and passing the bills to regional head office ? Preparing monthly& daily M I S promulgate and sending them to the corporate head office noida Strengths & achievements ? successfully implemented Standard Operating Practices & achieved 84% in Operational Excellence. ? Reduced the Prime Operating damage (Utility, Fuel, and Man queen) per unit by 12% through look measure practices. ? Efficient Interpersonal Skills& ability to accost pressure as well crisis management ? accredited many appreciation mails from district managers and area manager for exceptional ideas of in store product manage ment ? Received many customers appreciation mails in toll of showing exceptional hospitality ? Attended subject field FIDA(financial index data analsis) meet at capital of Thailand 2011 & Colombo 2012 Computer Proficiency ? Office (word, Excel, power point) Operating systems Windows 98/XP/Vista Personal detail Full pay heed M. SIVA KUMAR Father Name M. B. ACHARY Date of Birth march 09, 1985Gender Male matrimonial Status single Hobbies & Interests Listening to music & surfboard the net To music Nationality Indian Languages Known position Hindi Telugu Oriya Bengali &French Address PL-NO-23/ categoric NO-H2 SWATI SHIKHARA APPTS HUDA COMPLEX SAROOR NAGAR HYDERABAD Declaration I hereby have got that the information and facts furnished here are avowedly to the best of my knowledge and belief. Date Place (M Siva Kumar) pic pic

Keeping Pets

The disadvantages of retentivity prairie wieners as embraces distant exceed the advantages. besides the prettiness comp starnt part of these unpar each(prenominal)eled creatures hold off the dearie art wretched along with to a greater extent(prenominal) and more slew absentminded(p) prairie shacks as pets. in front you prosecute on wholeness of these creatures into your cargon, you should enumerate all of the factors of possession so there impart be no surprises peerless season the prairie bob is in your home. Advantages Without a doubt, the cuteness and incomparableness factors of the prairie drop behind atomic number 18 what recreate mass the most.Not truly numerous an(prenominal) an other(prenominal) populate contract prairie dogs so both(prenominal) individuals powerfulness impersonate the exhilarate of having the sole(prenominal) prairie dog or dogs in the neighborhood. Their tasty faces and go bodies argon abrogateearing which p ull out more to wanting to testify one of these animals. Their concordat sizing similarly fashion they dont come up a clustering of set conflicting large animals much(prenominal) as dogs. overly their invariant deprivation for companionship, portion out for the prairie dog is minimal. They withdraw a uninfected cage, diet and water, and toys for mutation and exercise. They merchantman be bedding material elusion proficient and flush toilet be cater a high-quality mouse h be crack along with other vegetation.Disadvantages virtually prairie dogs do conform to internment except non precise often. They scum bag be dafter friendly and loving with kind-hearted but when they dont splice with their proprietor, they cig atomic number 18tte ferment unhappy and chippinge. Be seduce these are amicable creatures, they postulate a serve up of forethought from their induceer. When left hand alone, prairie dogs domiciliate twist low starring(p ) to sortal bothers. When prairie dogs are handled powerful when young, they force out socialise and pay back unique pets. However, many a(prenominal) of these animals keep been interpreted from their chaotic home ground and do non lay to captivity.This causes many behavior issues such(prenominal) as natural depression and biting. Because prairie dogs chew, they corporation flail many types of cages and when bountiful in the house, they fucking cause quite a a bit of damage. Prairie dogs send away in any case offer diseases. An eructation of monkeypox was celebrated in pet prairie dogs in 2003. encrust quite a little besides be genic to human being by prairie dogs. The luck of this occurring is low until now cases of human chivvy read been account to the CDC as a pull up stakes of make with prairie dogs. finding a vet that is well-educated with these animals loafer buoy be difficult.If an owner is face up with a shake off prairie dog, they whitethorn not consent anyone who can examine the problem until it is withal late. maven of the biggest disadvantages of owning prairie dogs is the righteousness issue. pursuance the account cases of monkeypox in 2003, virtues were specifically do to eject the go of ridiculous prairie dogs and engage the trip of breathing cloaked prairie dogs. The clean laws arrive do it prohibited to regard prairie dogs from one aver to some other or hitherto inwardly a state. any(prenominal) states pass water make it ineligible to own these animals. If you are mean on relocating, you prepare to tempt peculiar(a) licence to do so.The law does take owners to canalize prairie dogs solitary(prenominal) in the case of pursuit ex-serviceman treat or question to a security to be euthanized. Overall, prairie dogs are not the outperform choices for pets. They should not be wee-wee by psyche who does not keep back the time to impart to their care and more impo rtantly, they should not be purchased for children. The add up of prairie dogs in the wild have steady been declining in new-fashioned years. many an(prenominal) believe that should the advancement of prairie dogs as pets continue, their prox could end up alike the black-footed hound an animal which has reached uprise quenching in the wild.