Consulting Organizations Like Mckinsey Management Essay

Consulting Organizations Like Mckinsey Management Essay Consulting organizations like McKinsey Company, Roland Berger Strategy Consultants, Boston Consulting Group, not only are leaders in their respective fields of operation but epitomize global reach with their branch offices spread all around the world (Carvalho and Cabral-Cardoso, 2008). Such big consulting organizations though are mostly based in the USA, yet they are present in almost all the economic regions. They are considered the harbingers of new managerial and organizational concepts that enjoy global validity. In view of the unprecedented increase in the number of organizations having potential to internationalize, internationality of management consulting has by itself become a means of competence and eminence (Richter et al., 2008). As such, the general trend in future could be that global companies may increasingly require the services of global consulting houses. Therefore, extending reach of the consulting organizations to international clients could become imperative an d present new opportunities of growing globally (Landriscina, 2012). In the UK, only a few consulting organizations exist that enjoy considerable international clout. This is evident from their foreign operations, including those that render foreign consultancy but do not have any branches abroad. In the UK, most of the consulting companies provide services to small and medium organizations. Their prospects in the international arena, the impediments they face, and the steps that can enable them achieve success and grow internationally, are dealt herein (Graubner and Richter, 2003). Donnelly and Dowling, (2010) said that the substance of earlier case studies brings out that foreign operations just depended on chance and the availability of profitable opportunities, and were not because of systematic strategies of operating globally. As such, overseas assignments were considered temporary and the regions were changed as the opportunities arose because of globalization of clients business operations. However, in certain cases, promotional efforts also contribute to the development of consultancy overseas. Generally, proper planning and diligently developing a foreign market is seldom resorted to (Budhwar et al., 2009). Hurdles in the way of developing external markets by establishing subsidiaries are many, and one can anticipate considerable risks when launching operations in new markets, particularly in BRIC countries, that is, Brazil, Russia, India, and China that have over time acquired much significance. If it is aimed to serve local customers also besides the western subsidiaries, it is essential to comply with the local conditions and employ low-wage local staff. It is only then that an organization catering in consultancy services can function successfully. In case of small and medium consultancy organizations, it is these factors that cause difficulties. ALTOMI ASSOCIATES AND ITS INTERNATIONALIZATION STRATEGY The present case study pertains to Altomi Associates, a UK based organization engaged in providing leadership and management training to client companies located in UK but some of them operating internationally also. As such, Altomi also organizes training programs abroad. Its training programs relate to three sectors, such as manufacturing, retail, and public sector. In the beginning, the training services were catered from the domestic setup, but later the company established bases elsewhere also, housing a small team of administrative staff to meet the requirements of clients at those places. As per Balbinot et al. (2010), it is imperative to evolve an internationalization strategy for a company planning to enter international business since it is an important determinant of success. The significance of meticulously evolved strategy of internationalization depends on diligently conducted market research and appreciation of the true meaning of such a strategy. Altomi Associates plan to spread their business to other countries, particularly in BRIC countries where they anticipate considerable growth opportunities. Altomi Associates intend to forge relationships with existing independent local operators in Brazil, Russia, India, and China as franchisees who would cater their training programs to clients there. In the medium term, they propose to put up offices in those areas either as new start-ups or by taking over local training companies or by forming joint ventures. The ultimate aim is to render training services to MNCs across their global facilities. INTERNATIONAL HRM According to Armstrong (2012), many big MNCs are in a position to ably manage their international operations, such as marketing, technology, and finances. However, there are others who have not been able to manage their HR effectively. IHRM is crucial for MNCs for exercising control and addressing cross-cultural issues, internal as well as external. MNCs face many more problems as compared to domestic organizations on account of geographic distances, cultural disparities, international competition, issues related to language, and political parameters (Harzing and Pinnington, 2010). Stolt (2010) observes that IHRM and HRM do not differ much as their aim is to achieve the same objective of gaining competitive edge for their organizations and in this respect have to confront similar internal and external environmental factors. It is thus necessary for HR managers in MNCs to fully understand the obtaining political environments and legalities concerning labor in host countries. An international HR manager needs to understand the implications of soft and hard HRM as related to domestic business and concerning foreign subsidiaries (Mathur and Gupta, 2011). In case an organization assigns great significance to its employees and places much value to their participation, then the organization is considered to be practicing soft HRM. If the HR manager has adequate understanding of the differences between the two types of HR, then he will be in a position to adopt the right HR policy with respect to each country (Dickmann, 2008). The hard approach, on the other hand, corroborates with strategic HRM, is concerned with reducing costs and is part of the top managements function (Budhwar et al., 2009). Dickmann (2008) describes soft HRM as based on resource perspective of the employees and pertains to egalitarian culture, organic organizational structure, broad particularization of jobs, pay packages as per abilities, sharing of profits, and the existence of a system of direct communication with employees. Hard HRM, on the other hand, relates to such HR policies that follow the prescribed business strategy, practices different approaches as per the categories of workers and according to stringent organizational procedures (Gluesing and Gibson, 2006). Academics, however, have been concentrating on the soft approach for some time. Each country professes characteristics that are specific to it and which have a direct impact on HR practices (Sparrow and Wu, 1997). A UK company establishing a subsidiary in Japan will find it hard to practice soft HRM in that country, as Japanese workers are accustomed to work under hard HRM practices (Barney and Wright, 1997). CONSULTANCY INTERNATIONALIZATION THEORIES The important theories are discussed below: Static theory: This theory comprises such concepts as theory of growth, internationalization theory, and elite system. According to Sparrow (2009), there is no empirical evidence whether these theories are applicable to SMEs since these have been evolved in the context of MNCs. Stage theory: This theory prescribes implementation of the process of internationalization by stages (Harzing and Pinnington, 2010). Several models are available concerning this theory, such as the Uppasla model, network model, and the model related to innovation. The Uppasla model advocates gradual implementation of internationalization over a time with emphasis on step by step learning and understanding of foreign markets (Griffin et al., 2010). According to Collings (2012), the network approach pertains to the impact of the organizations level of internationalization and the extent of internationalization of the target markets. The innovation related model, as per Dowling et al. (2008), states that innovations in management systems determine the successive stage in the internationalization process. International new venture theory: According to Sparrow (2009), this theory deals with organizations that have internationalized from the very beginning or immediately after the start. The consultancy sector differs from other sectors in that it submits to easy pliability and speedy developments as per the demands of the market wherein both small and big organizations exist (FEACO, 2004). The demand for consultancy services has been developing quite fast resulting in their operations reaching across borders. Organizations rendering consultancy services go international due to several reasons. According to Brett and Kern (2006), the main reasons are location of clients, exploring new markets, or the market being a developing one. There are several approaches that can be deployed while internationalizing, such as export, foreign direct investment (FDI), or entering into cross-border collaboration. As per Graubner and Richter (2003), though export is an important component of internationalization, yet organizations are increasingly adopting the route of FDI. Cross-border collaboration is a preferable mode in case of SMEs since they are not in a position to afford the needed resources and are vulnerable to many risk factors (Carvalho and Cabral-Cardoso, 2008). According to Stolt (2010), SMEs not only lack enough resources, but also capital, and managerial expertise. As such, they generally face many hurdles while internationalizing their operations. Such impediments are of three types: liability of foreignness, liability of newness, and the liability of smallness. Therefore, it would be necessary for them to take these liabilities into consideration while internationalizing. As per Graubner and Richter (2003), SME consultancies can also confront the problem of establishing new networks. ISSUES EXPERIENCED IN TRANSFERRING HR POLICIES AND PRACTICES ACROSS BORDERS Schuler and Jackson (2009) consider that organizations operating internationally are often urged to implement HR policies and practices uniformly in all of their global operations. Such a situation arises because of the company having been following HR practices since long in accord with the domestic parameters. It is thus necessary to take into account the domestic as well as foreign country factors while evolving IHRM strategy. There are countries whose laws are oriented to protect employees interests, while many other countries favor employer interests (Griffin et al., 2010). Muller-Camen and Brewster (2008) mention hurdles like lack of experience and understanding, cultural disparity, and inadequate resources that companies generally confront in international markets. As such, it is desirable to implement HR strategies that accord with the legal and political parameters of the host country. IHRM while specifying job profiles and task parameters to be implemented by the foreign subsidiaries, should consider the availability of suitable workers for the specific jobs (Harzing and Pinnington, 2010). Domestic employees having compatible skills and experience can be deployed but it gives rise to issues related to compensation and reward systems (Stolt, 2010). According to Griffin et al. (2010), people recruited from the host country would be ignorant of the parent companys vision, mission, and objectives. FACTORS RELEVANT FOR THE DEVELOPMENT OF INTERNATIONAL ASSIGNMENT POLICY Complexity of Operations: The complexity comes into play when operations are spread over many countries and employees belong to different nationalities. These two variables play a crucial role in differentiating IHRM and domestic HRM (Schuler and Jackson, 2009). Cultural Environment: According to Pham and Hongyu, (2012), cultural ignorance can generate adverse feelings about the host country and its people and a desire to return home early. Cultural disparities can be interesting only for some time but in the long run may look shocking to the expatriate. People belonging to diverse cultures harbor varying aptitudes, differing dispositions, and dissimilar beliefs (Harzing and Pinnington, 2011). Paying scant attention to these aspects often results in an organizations failure. Richter et al. (2008) advise that an organizations recruitment and related policies should accord with the host countrys culture and HR practices. Working in new cultural environs can create difficulties both for the local workers and the expatriates. Standardizing Pay and Conditions: According to Sparrow (2009), emoluments and working conditions differ from country to country and are influenced by the local market environments. Therefore, MNCs need to ascertain the intrinsic and extrinsic factors obtaining in the host country (Harzing and Pinnington, 2011). A significant task before the IHRM is to evolve viable compensation and reward systems for implementation globally. While evolving an international framework of remuneration and reward, an organization should take into account two basic concerns, the first being that of comparability (Harzing and Pinnington, 2010). According to these authors, remunerations given to workers should not only be internally comparable but also should conform to market environments. The parameters that influence the fixation of remunerations and salaries comprise the accessibility to expatriates and local skilled workforce, the existing wage structure, and the host countrys regulations. Harzing and Pinnington (2011) opine that an organization should apply different parameters for evolving pay system for each country. Altomi Associates need to develop viable reward systems for their local workforce engaged in rendering services internationally and addressing the issues of standardizing pay and conditions. HR STRATEGY FOR ALTOMI ASSOCIATES An organization or its HR setup has more than one action for aligning HR strategy with the local parameters and integrating it globally. There are four main alternatives that can be thought of along with their respective costs. These are: Local Adaptation International strategy: This strategy is appropriate in cases when foreign business is not much and involves transfer of knowledge from central headquarters at insignificant costs. Multinational strategy: In this case the affiliates enjoy autonomy and their systems are oriented towards local conditions. Benefits of cross-border standardization and learning are meager and coordination expense is the lowest. Global Integration Global strategy: This strategy yields benefits on account of standardization of policies and practices, but is highly centralized, lacks responsiveness, faces hurdles due to fragmentation of markets, cultural disparities, policy implications, and entails high costs. Transnational strategy: It accrues benefits resulting from globalization, local adaptation, and simultaneous cross-border learning. However, the expense involved is the highest. In such a scenario, every organization will have to determine its own approach for global integration depending upon the prevailing environments (Harzing and Pinnington, 2011). The approach could vary in case of executive personnel and skilled workers. In todays circumstances, the preferable course of action could be to dispense with local self-determination and domestic country preference (Stolt, 2010). The UK organizations that have achieved success generally followed globally integrated HR policies. Incorporating refinement and effectiveness in the global reward systems, transferring personnel every now and then from one country to another, and instituting training programs with global dimensions, enable transferring crucial expertise, result in achieving speedy transfer of skills, outcomes of innovation, systems of quality control, and cost-effective methods of manufacture (Donnelly and Dowling, 2010). Though at present, the country managers enjoy liberty concerning HR practices, yet the thinking now is to nurture global managers, integrated policies, and foster culture with global dimensions. The suggested HR strategy for Altomi Associates should comprise such a vision and guidelines as are mutually oriented, nurture broad behavior, fosters mutual trust, forges global cooperation. The decision-making process should include decision-making committees that have global perspective, are based on communication between the product, country, and field experts in the network (Carvalho and Cabral-Cardoso, 2008). Suitability of staff should be based on qualification rather than on country of origin (Budhwar et al., 2009). Human resource development should be through international networking and incorporate educational advancement, overseas placement, and flexibility in dealing with issues concerning personal maintenance. The strategy should incorporate appraisal systems and cross-border advancement opportunities that are in tune with the international systems and practices. The strategy should also have a policy that corroborates with the main organizational objectives.

My Dream Job Essay

Everyone has a dream. I too dream of a job that will make me child’s dream comes true. My grandfather and father both traditional Chinese physician. They have excellent medical skill and lofty medical ethic. In China, The doctor is called ‘angles in white’, People respect them. I used to get sick in my childhood. My father always can cure my disease by traditional Chinese medical. I think everything like a magic. I feel so amazing. I adore my father, so when I was a child, I want to be a traditional Chinese physician. And then the dream is not changed. History By learning about more knowledge, I know Traditional Chinese medicine has a history of several years. It is one of Chinese splendid cultural heritages. It is the science dealing with human physiology, pathology, diagnosis, treatment and prevention of diseases. During several thousand years it has made great contributions to the promotion of health, the proliferation and prosperity of the Chinese nation, and the enrichment and development of world medicine as well. pic] Li Shizhen, one of the famous physicians in the Chinese history. He is very important for the traditional Chinese medical’ develop. He makes people start attention it. He wrote too many books that about how to use the tradition skill to cure the sickness to save the patient. [pic] ‘Ben Cao Gang Mu’ is the most famous of traditional Chinese medical books by Li Shizhen wro te. The book consists of 52 volumes with 1,892 medicinal herbs, including over 10,000 prescriptions and 1,000 illustrations of medicinal items. It is a great contribution to the development of pharmacology both in China and all over the world. Methods of treatment †¢ Diagnose skills †¢ Chinese massage †¢ Acupuncture †¢ Chinese herbs ? Diagnose skills [pic] There is a combined use of the four diagnostic methods among herbalist doctors: observe, hear and smell, ask about background and touching After the four steps, the doctor can know patient’s illness. Then treatment was deferred pending further diagnosis. ? Chinese massage [pic] Chinese massage is known as Tui Na, uses wave-like motions to loosen joints and nourish muscles. Bring awareness back to a person’s body and making it a first step in the healing process. Stimulate the flow of Qi, blood and body fluids can be used to treat pain, stress or digestion problem. The masseur can give you an all-over massage and focus on specific areas with pain or do a treatment on the affected area. So tradition Chinese medical can use our life. Chinese massage need skilled technological and more experiences. So I should constant practice. ? Acupuncture Acupuncture is both One of the oldest forms of Chinese Medicine. It as same as massage are both important. Acupuncture involves the stimulation of anatomical points on the body with thin needled. Needles are placed at â€Å"Yin/Yang Meridian points†. Contrary to what you might think, acupuncture patients usually feel little to no pain, because acupuncture needles are hair-thin and are manipulated either by hand or electricity. [pic] ? Chinese herbs Except for use these skills, tradition Chinese physician also need know Chinese herbs purposes. Herbs are a vital part of Chinese healing. Chinese herbs have many kinds. Differentiate into many species. Each ingredient has unique characteristics. The ingredients work in harmony to help a person’s body. Herbs can help boost Qi and balance Yin/Yang. [pic] Advantage †¢ Whatever traditional Chinese physician or other doctors, they have many same effects. They like an angel who brings patients from illness to happiness and give the hope to the patients to live on. They may let these experiences personally the human which the indisposition suffers to get rid of the pain and they saved many people’s lives during their work. †¢ Traditional Chinese physician not only can help patients take away the pain, but also help people keep in good health by some traditional methods. For example: Chinese food therapy is good for our health, and it can use to our daily life, for food and drink. Certain foods and herbs are prescribed to restore balance to the body. Combining Qigong with exercise is a good choice, because it regulates the mind and breathing to promote the flow of Qi. It can make our sound in body and mind. [pic] [pic] †¢ Traditional Chinese medicine contains thousands of year people’s wisdom. It is only belong to Chinese unique culture. †¢ And Chinese herbs are from nature, without adding any chemicals. So the herbs don’t have bad effect for health. Tradition Chinese medicine is an abstract subject. It has many different skills. The effects of different, but they are the same important. So I know that if I want to be a good tradition Chinese physician, I need spend many energy and time to master different knowledge and learn how to become a good doctor. I will try do my best that make dream come true.

Bao Viet Insurance

Bao Viet is one of the most popular insurance company in Vietnam. It was established in 1964. With a strong and prestigious trademark in insurance industry and a network throughout 64 provinces nationwide, Bao Viet has become the leading financial-insurance group in Vietnam. In 2007, Bao Viet launched its Initial Public Offering and became a multi-business financial group. I.The mission, values and objectives of Bao Viet enterprise and the influences of stakeholders: To have a successful business, all companies have to have their own strategies. The first element is that the firm has to show the answer for the question â€Å"why do we exist?† or â€Å"what do we want to become?†. In other words, each company must have their missions or visions which are considered as a magnetic needle for all the people of company such as manager, workers or officers, etc to follow up. As a result, Bao Viet also has their own vision: â€Å"Bao Viet's vision is to be o-ne of the leading financial groups in Vietnam in life and non-life insurance, investment, securities and other financial services† (Anon., 2008). To achieve this mission, the company wants to set up the high standard in every services that they undertake by innovations in productions and knowledge. In addition, by these activities, Bao Viet will also build up their reputation in Vietnam and have a long-term relationship with the customers, clients and business partners. All the enterprises need to identify their values which they can believe on it to secure their businesses. There are some values of Bao Viet for their goals and aims which is â€Å"innovation†, â€Å"growth† and â€Å"efficiency†. Principal of innovation for this company can be set up by receiving customers’ comments or feedbacks. After that, the company can renew their products or provide for customers a higher standard of service. Whilst, growth and efficiency can be assessed by basing on the business’s profits. For example, total revenue of the company in 1989 was VND 76 billion, after seven years, in 1996, this number increased rapidly at VND 970 billion. Bao Viet also should have some obvious objectives to follow. Bao Viet improves their standards of products and services to satisfy the demands of the clients and hope to have more customers and make more profits. For example, due to the success in the first six months of 2008, Bao Viet’s firm has their objective for the last six months: the business will strive to reach the total revenue of VND 3,150 billion in the whole of 2008. Next, the company should know and recognize the importance of stakeholders towards their business. There are three types of stakeholders. Firstly, we have internal stakeholders such as managers and employees who have immediate influences on the activities of the business. Managers will control all the management of the business, they decide to do or not a project so this position is very important for all the enterprises. Employees are also an major part of a business. They are the people who have the main influences on the success of a company. Employees join in the process of production directly, so if they are received high wages and bonuses to motivate them, the quality of products will improve enormously. On the other hand, if managers or employees do not do their works well, the business may get some loss of profits. The second one is connected stakeholders. Shareholders invest in the business in return of their dividends. In some cases, their investments can make them become the owners of the company if they have the largest ordinary shares of public limited company. In other words, shareholders can affect on the business by raising capital and even becoming the owners. Another part of connected stakeholders is banker who can lend the firm large amounts of cash to increase the capital. However, if the company does not make profits to repay their interest, bankers can confiscate the assets and make the enterprise go bankruptcy. Next, Suppliers who supply equipments for the company will expect to be paid and a long term relationship with suppliers can help the business to have more benefits. The last one is customers who need the products or services. For many enterprises, customers are people who decide what is produced or what price is charged. Their behaviors, feedbacks or complaints will influence on the success of the company directly. Thirdly, we have the external stakeholders. Government has a big position for the success of a business by making the laws and regulations which all the firms have to follow to do the businesses. Local authorities also can affect the business by changing local environment such as increase in road traffic. The next one is professional bodies, who want to ensure that the members of the company comply with professional ethics and standards, also affect the business. II.The extent to which Bao Viet company achieves the objectives of three stakeholders: For internal stakeholders such as managers, they are interested in the company’s continuation and growth. They also have some individual interests and goals, for example, a safe and comfortable working environment and skill and career development, etc. Therefore, to achieve the objectives of internal stakeholders, the company needs to increase the revenue and improve the standards of working environment. Bao Viet was held up in 1964, they have 43 years of foundation and growth. In some first years, their revenue only raised a little, turnovers at that time was VND 800,000 with total assets of VND 900,000 because they only served for some state-owned customers. Now, Bao Viet has widened their nationwide network and developed the business to overseas market. In addition, the income also increase enormously: Its investment income in 2003 reached VND 512 billion from a total portfolio of VND 8,114 billion. These great advances make the company become one of the biggest 25 enterprises in Vietnam. Moreover, on 31st May 2007, Bao Viet was listed on the stock market to sell their shares to the public. After this, the chartered capital of Bao Viet increased at VND 6,800 billion. Bao Viet has 40,000 dedicated agents and 5,000 employees with experienced experts and young, well-trained staff so this company always has a good environment for people to work. Bao Viet also achieves in the services for customers who represent for the connected stakeholders. Customers always want to receive the best products or services for their demands. They can complain or give comments to the business about the products and their satisfaction is very important for the company’s success. As a result, the firm always needs to listen to the customers’ opinions, this will make major influences on the new products or services in terms of quality or price. Firstly, Bao Viet strategy bases on the customer orientation which means the customers will become the centre of all activities. The company has taken over the feedback of customers and pay a large amount of money for the customers who bought their insurance. For example, Anh N of Vietnamnet (2004) said that Bao Viet had paid VND 1,000 billion for people who had got accidents or disasters in 2003. Bao Viet also issued more types of insurance such as personal insurance, river boat insurance or fishing boat insurance, etc to serve the customers’ demands. These types will help the customers in many careers to have more choices and make more benefits for the company. Secondly, because of a huge system of nationwide network over the country, Bao Viet has some difficulties to keep contacting with the clients in some parts of Vietnam. Therefore, the company decided to establish more offices and more officers to improve the quality of services for the customers : â€Å"Bao Viet Da Nang built four regional offices in Thanh Khe, Lien Chieu, Hoa Vang, Son Tra – Ngu Hanh Son and a line-up of 120 people who are willing to guide, provide insurance services for the clients everywhere at every time.† (Ha T., 2004). Moreover, Bao Viet associated with some company to develop the quality of services for the customers such as HSBC Vietnam company. By this communication, Bao Viet might provide products for their customers through branch houses of HSBC Vietnam company. Overall, Bao Viet is improving more and more their system of products and services to serve the customers. Besides the benefits for internal and connected stakeholders, Bao Viet also satisfies the requirement of government, an external stakeholder. Government has some main roles such as passing laws to protect workers and customers, collecting taxes or subsidizing activities, etc. Mr Hoan, Chief executive officer of Bao Viet headquarter stated that in 2003, Bao Viet paid VND 189 billion for the government, increased by 8.2% in comparison with the amount in 2002 (Anh N., 2004). Therefore, Bao Viet achieved the responsibility with the government. Meanwhile, the expansion of Bao Viet will increase the chances for people to have jobs, this activity will help the government to solve the problem of unemployment. In conclusion, Bao Viet succeed to achieve the objectives of all the stakeholders which includes internal stakeholder, connected stakeholder and external stakeholder. III.The responsibilities of the company and strategies employed to meet objectives of stakeholders: The first responsibility of the company is social responsibility. Bao Viet has some responsibilities for the government. For example, Bao Viet must pay tax for their income, in other words, the company must follow all the regulations and laws which the government have issued. Besides, they also make benefits for the local communities such as reducing the ratio of unemployed people in the area. Secondly, we have the ethics and business. Obeying the law is that the company must follow the laws and regulations to do the business. Furthermore, the company has to respect the rights of competitors. The firm has not to criticize or attack the rights of competitors or do everything which can harm the competitors. Business ethics also includes that the organization should protect the employees and consumer from danger of the business. In addition, the company also must not do some illegal activities such as bribery or gifts. The next one is the management responsibilities. The company should have good relationship with all their stakeholders. Now, Bao Viet has their IPO, so they will have more shareholders. In addition, the business has the responsibility to maximize the profits for shareholders. As a result, they will continue to invest in the company and the business will make more benefits. Second one is the employees who keeps the organization in operational existence. They contribute for the company by joining in the production directly so their position is also very important and they should be received a suitable treatment in terms of wages or salary, bonuses, etc. Moreover, the firm also should give the employees a coherent career and a training structure to make them become better and work more efficiently. Meanwhile, the company needs to make a good environment for workforce’s lifestyle and make a good condition for them to express all their talent. Next, I will talk about the responsibility for customers. For Bao Viet, the enterprise has to listen to every feedbacks of the customers, develop the quality of services and keep contacting with them to provide enough information which the customers want to know. For the suppliers, the firm must not delay payment or use the power unscrupulously. In addition, having a long-term relationship or giving new supplier the chance to win new business also makes benefits for both sides. The business also have some responsibilities for the competitors such as the laws of competition about fair trading, monopolies or mergers, etc. The last one is responsibilities for the Community. Each area has their own social and ethical values, so that the firm has to respect these values. Moreover, when the Community needs more capital to hold up an event or charity, the business also should sponsor for them. This way will also make benefits for the company because they have a chance to spread their brand. In addition, the last one is that the enterprise has to respond to complaints for local residents. In this part, I will give some strategies which Bao Viet has followed to meet the objectives of stakeholders. The first strategy is to become o ¬ne of the leading financial groups which has an ability of international competitiveness, providing a wide array of financial services from life and non-life insurance, securities, investment to financial services. This expansion will help the business to widen the market for more consumers. The second one is to become the corporation which is the most popular in Vietnam towards the customers. This strategy will be useful and important for a customer orientation company. Next, the company wants to â€Å"become an organization that can maintain and enhance the â€Å"Prestige† â€Å"Reputation† and â€Å"Honesty and Integrity†, having the â€Å"Loyalty† of customers, and BAOVIET members† (Business Environment textbook, 2008). All of the strategies are based on three gold principles of â€Å"innovation†, â€Å"growth† and â€Å"efficiency†. Reference http://www.vietnamnet.vn/xahoi/doisong/2004/10/340859/

Recruiting The Right Personnel For The Community Service...

Introduction Volunteerism is an on growing trend that has impacted the community service industry. The time that people have devoted to giving back and doing service for the community not only benefits not only themselves, but also those of the less fortunate. Volunteers are looking for opportunities to show their dedication but want their actions to be acknowledged and appreciated. It is vital to recognize volunteers within the organization but also to acknowledge their accomplishments within the community. Volunteer managers are working extremely hard to find ways to attract and recruit volunteers who are willing to work. The major issue that volunteer leaders face today is recruiting the right personnel. Getting the volunteers to give†¦show more content†¦Those who devote themselves and work effectively are greatly appreciated by the organization as well as the community. Alan Rufer stated, â€Å"Identify high-performing members who have the communication skills to explain and demonstrate the tasks step by step,† (p, 15) Volunteers who can use their skills to recruit and communicate the organization’s mission are what volunteer managers look for. However, even the most dedicated and hard-working volunteers won’t stay if the experience is horrible. No one wants to belong to a sloppy organization. With that being said, Incentives should be invented. Creating incentives for the volunteers is crucial to the long-term loyalty that organizations are looking for. Developing incentives such as grants, promotions, and job opportunities that would be rewarded to the volunteer at then end of the service would motivate them to work harder for what they feel they deserve. Incentives formulate determination towards an end goal and that’s how organizations can get retain volunteers. Conducting Interviews Conducting interviews for prospective volunteers’ would be beneficial because leaders can get a sense of what type of motives a volunteer has. Volunteers might have good objectives, but that doesn’t mean that they are a good fit for what the organization is looking for. Failing to interview volunteers and anticipating them to show up could be a bad mistake. Commitment is the biggest factor that volunteer leaders areShow MoreRelatedHuman Resource Management And Labor Relations951 Words   |  4 Pagesmanagement in Aviation:Recruting and selection. Abstract The commercial aviation industry is safety-sensitive, high technology and extremely competitive service industry. The implications are vast and pervasive affecting no less than the organisation’s strategy, culture, and numerous operational activities. Responsibilities of human resources departments within aviation organisations and the skills of human resources personnel. 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