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Tuesday, November 29, 2011

Employees Training and Development

Employees Training and their development is an important aspect for organisational growth and sustainability. Aziz & Ahmad (2011) exhibits the importance of training & development programs in modern scenario.

Most of the organizations spend a huge amount to train their employees. Organizational characteristics (people, system & culture etc.), individual characteristics (personal skills & career development, learning etc.) and training program characteristics (improve the efficacy of business operations) are considered and integrated to make effective training (Aziz & Ahmad 2011).

The study of Denby (2010) also states that in the effectiveness of training, training need analysis plays an important role. On the basis of training need analysis, the efficacy of training program can be enhanced in an effective manner by providing efficient job related skills to individuals (Denby 2010).

On the other hand, the study of Noonan (2008) exhibits that proper collaboration between employees and employers enhance the effectiveness of training for employee development. It assists to enhance employee commitment towards personal and organizational development. Similarly, as discussed by Hassi and Storti (2011), training & development enhances and develops job related skills, technical skills, management skills and leadership skills etc. of individuals.

The article on the holistic approach to training (2011) exhibits that the effective training to each individual is a complex task for HR managers. In the efficacy of training programs, individuals, who have learning attitude, provide their maximum contribution for personal, professional and organizational development.

References:

Aziz, S. F. A & Ahmad, S. (2011) Stimulating training motivation using the right training characteristic. Industrial and Commercial Training, 43 (1), p. 53-61.
Denby, S. (2010) The importance of training needs analysis. Industrial and Commercial Training, 42 (3), p. 147-150.
Hassi, A & Storti, G. (2011) Organizational training across cultures: variations in practices and attitudes. Journal of European Industrial Training, 35 (1), p. 45-70.
Noonan, J. (2008) Using collaboration tools to improve training. Industrial and Commercial Training, 40 (1), p. 51-53.


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Monday, November 21, 2011

eCommerce: What it is

What is e-Commerce?

An environment in which most of the business transactions occurs through telecommunications networks, especially with the help of the internet, are known as e-commerce. Electronic commerce pertains to the buying selling process or exchanging of products, services, and information via diverse computer networks along with the internet.

In present, the internet has come forth as a key international distribution channel for goods, services, management and specialized jobs (Lancaster and Reynolds 2005). The practice of e-commerce is significantly altering economics, markets and industry composition and structure, products and services and their stream, consumer segmentation etc.

Almost all type of business related activities and consumer values has altered with emerging e-commerce practices and similar is the situation with travel and tourism industries from different parts of the world (Simpson and Docherty 2006).

E-commerce is the trend of the global marketplace that is increasingly used by the business organizations to attain maximum advantages (Bauknecht, Pröll & Werthner 2005). E-commerce is electronic sells and purchases of goods and services through the use of internet.

The increasing use of e-commerce by travel companies is helping customers to have access on more information on different companies’ diverse tourist destinations and services.

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Reference
Bauknecht, K. Pröll, B & Werthner, H. (2005) E-Commerce and Web Technologies: 6th International Conference. Germany: Springer Science & Business.
Lancaster, G. & Reynolds, P. (2005) Management of Marketing. Burlington: Butterworth-Heinemann.
Simpson, M & Docherty, A. (2006) E-commerce adoption support and advice for UK SMEs, Journal of Small Business and Enterprise Development, 11(3), p.315-328.

Friday, November 11, 2011

Managing Process, People and Projects at Bank of America

In current scenario, management of process, system and project is a critical task. Organizations follow different tools and techniques to manage their business strategies, improve quality and performance. In retail banking, various procedures are used by the firms to ensure the alignment between the objectives and performance. Banking firms formulate different contingency planning and procedure to ensure a smooth flow of returns for the stakeholders. It is observed that during 2009, economic recession had impacted the performance of some well known banks that influenced their market image also (Bank of America, Annual Report 2009). In retail banking, risk management practices followed by the firms matter a lot at the time of contingent situations like, economic slowdown.

At the same time, it has been observed that some banking firms have organized themselves effectively even during adverse conditions and tried their best to come over from the clutch of economic downturn. In order to remain competitive during the tough conditions like recession, it is essential for the organizations to strengthen their management practices for managing process, systems and projects. Bank of America is selected for the discussion of process, systems and projects. The bank is the largest lender in the U.S This bank has strong relationships with around 1000 fortune companies. Bank of America offers finest financial services in the world (Bank of America, 2011). Bank of America uses effective risk management practices to manage its systems, process and projects successfully.

In 2009, the bank has introduced clarity programs, deposit customer assistance program and simplified its overdraft policies to manage the systems in a smooth manner (Bank of America, Annual Report 2009). Banking and liquidity management of this bank is also good that supports it to fulfill the expectations of all stakeholders like, clients, communities and shareholders. The bank has modified home loan and credit card to help the families during tough times. The organization is known for its business ethics of doing right things even during critical situations. Four sections will be conducted for assessing process, systems and projects management of Bank of America. In first section, analysis of strategic context, principal strategies and quality and improvement will be conducted. In next section, course of action to address the issue and justification for that course of action will be discussed. In third section, implementation and impact will be discussed. In final section, implications of implemented plans will be described.


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References
Bank of America. (Annual Report 2009) [Online]. Available At: http://media.corporate-ir.net/media_files/irol/71/71595/reports/2009_AR.pdf [Accessed: 12th January 2011]
Bank of America. (2011) [Online]. Available At: https://www.bankofamerica.com/ [Accessed: 12th January 2011]

Friday, November 4, 2011

Business Ethics

Business ethics can be defined as the ethical behavior of a business to conduct its operations (Marques & Azevedo-Pereira, 2009). The ethical values in the business can be changed as per nature of the business. Business ethics mostly deals with the concept, process and practices of the organization in the business environment. Business ethics in organization requires value based leadership from the top management.

The role of business ethics has become significant in today’s challenging environment. Recent corporate scandals in the business environment increased the requirement of ethical business practices. It is very important for the organizations to follow a certain level of ethical consideration to eliminate possibility of fraud.

The stakeholder of the company plays a vital role in implementing ethical values within organization. Business ethics is quite effective to build a good public image and facilitate success in the long-term (Ferrell, Fraedrich & Ferrell, 2009).


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References
Ferrell, O., Fraedrich, J., & Ferrell, L. (2009). Business Ethics: Ethical Decision Making and Cases. USA: Cengage Learning.
Marques, P., & Azevedo-Pereira, J. (2009). Ethical Ideology and Ethical Judgments in the Portuguese Accounting Profession. Journal of Business Ethics, 86, 227-242.