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Time Management

Introduction: Time management plays an important role not only in organization but also in personal lives. It refers to managing time effectively so that the right time is allocated to the right activity. Time management refers to make the best use of time as time is always.

Time management can lead to :

i)Performance outcomes

ii)Gain a sense of control over your time.

iii)Increase in Productivity,

iv)Identify the goals,

v)Analyze the time utilization.

vi)Identify and control major time wasters.

vii)Achieve and balance between work and external commitments.

vii)Set long-term and short-term goals.

Objectives of Time Management:

i)Review personal effectiveness.

ii)Goal setting and action plans.

iii)prioritization techniques.

iv)Managing work life balance.

v)Productivity.

Advantages of Time management:

i)Time management makes an individual punctual and disciplined.

ii)Develops responsibility.

iii)Aids in money management.

iv)Motivates and initiates.

v)Reduces anxiety.

Disadvantages of Time management:

i)Consume time in making up plans especially when those plans turns out against.

ii)It will make life too mechanical.

iii)Leads to stress and compulsion of time bound performance which leads to frustration if it is not met.

iv)It may affect your work-life balance, mental imbalance, and strained relations at work place.

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Stress Management

 

STRESS MANAGEMENT

AUTHOR: MAHISHA SURAMARDHINI. 

INTRODUCTION:

Human resource is the heart of the organization. In this research, we will be able to know how to reduce the stress level of the employees and by this way the productivity of the employees increases. Today age is called ‘The age of Anxiety’ and this century is called ‘the century of stress’. Today vast majorities of people are in a state of stress. Their fast-paced lifestyle of demand that they are raring to go always with pressure usually leads to stress.

Stress is not necessary something bad, it all depends on how we take it. “Demands exceed the personal and social resources the individual is able to mobilize”.

A word stress is defined by the dictionary as ‘ a state of after involving demand on physical and mental energy’.

STRESS MANAGEMENT IN HUMAN RESOURCE:

Modern life is full of stress. As organization become more complex, the potential for stress increases. Urbanization, industrialization and increase in scale of operation are some of the reasons for rising stress. Stress is an inevitable consequence of socioeconomic complexity and, to some extent, its stimulant as well.

People experience stress, as they can no longer have complete control over what happens in their lives. The telephone goes out of order, power is shut down, the water supply is disrupted, an expected promotion is denied, children perform poorly at school, prices of essential commodities increase disproportionately to income, etc. we feel frustrated, and then stressed.

There being no escape from stress in modern life. We need to find ways of using stress productively, and reducing dysfunctional stress.

Several terms that are synonymous with stress, or similar in meaning, have been used. In order to avoid confusion we will use the following terms: stress for stimuli that induce stress; stress for the affective (emotional) part in the experience of incongruence; symptoms for the physiological, behavioral and conceptual responses or changes: and coping for any behavior that deals with the emotional component in the experience of incongruence, e.g. stress. The term stress will be used here to refer to such terms and concepts as strain, pressure, etc.

 As already stated, role can be defined as a set of functions, which an individual performs in response to the expectations of the significant members of a social system, and his own expectations about the position that he occupies in it. The concept of role, and the two role systems (role space and role set) have a built-in potential for conflict and stress.
Stress is normal. Everyone feels stress related to work, family, decisions, your future, and more. Stress is both physical and mental. It is caused by major life events such as illness, the death of a loved one, a change in responsibilities or expectations at work, and job promotions, loss, or changes.

Smaller, daily events also cause stress. This stress is not as apparent to us, but the constant and cumulative impact of the small stressors adds up to big impact.

In response to these daily stresses, your body automatically increases blood pressure, heart rate, respiration, metabolism, and blood flow to your muscles. This stress response is intended to help your body react quickly and effectively to any high-pressure situation.

However, when you are constantly reacting to small or large stressful situations, without making physical, mental, and emotional adjustments to counter their effect, you can experience stress that can hurt your health and well-being.

It is essential that you understand both your external and internal stress-causing events, no matter how you perceive those events.

Stress can also be positive. You need a certain amount of stress to perform your best at work. The key to stress management is to determine the right amount of stress that will give you energy, ambition, and enthusiasm versus the wrong amount which can harm your health and well-being.

DEFINITION:

Stress management can be defined as interventions designed to reduce the impact of stress in the work place. These can have an individual focus, aimed at increasing an individuals ability to cope with stress.

AIM:

  • To study what is stress management.
  • Identify the stress effect on employees.
  • Adopt a de-stressing routine life.
  • Spend time with family.
  • Make time for vacations.
  • Practice relaxation method, like meditation.
  • Sleep at least 6-8 hours a day.
  • Maintain work life balance.

REVIEW OF LITERATURE:

Literature review examines recent research studies, company data, or industry reports that act as a basis for the proposed study.

According to Mr. Madhip Johri, assistant director, IPM Meerut in his articles “ Stress management strategy and techniques” he has pointed out stress is a part of day-to-day living of every individual.

According to Mr.Bhalt in his articles, “A Study of general role of stress, among the IT/ITES sector”. He has pointed out that IT/ITES industry in India got tremendous boost in the past decades due to factors like liberation and globalization on of the India Economy coupled with favorable Government Policies.

RESEARCH METHODOLOGY:

Research Design: I did descriptive study.

Research Tools: I did secondary research. I collected data from the internet from various websites, journals, magazines.

OBJECTIVES:

To identify the factors causing stress among the employees

To find out the level and kind of stress among the employees, of different age group.

To study about the effect of stress on employee.

To identify pressures at work which lead to physical disorders.

To enable business strategy.

To achieve an organization business goals.

To undergo an in-depth study about the stress among the employees.

To identify the coping strategies to manage stress.

TYPES OF STRESS:

(i)                 Acute Stress:

Acute stress is the most common form of stress. It comes from demands and pressures of the recent past and anticipated demands and pressures of the near future. Acute stress is thrilling and exciting in small doses, but too much is exhausting.

(ii)               Episodic Acute Stress:

This form of stress comes from ceaseless worry. “Worry warts” see disaster around every corner and pessimistically forecast catastrophe in every situation.

(iii)             Chronic Stress:

This stress comes from a person never sees a way out of a miserable situations. It is the stress of unrelenting demands and pressures for seemingly interminable periods of time. With no hope, the individual gives up searing for solutions.

SCOPE OF STRESS MANAGEMENT:

The scope of this research would be to identify the stress the employees at different levels face in the organization and how much mentally they are fit to face this kind of stress. To learn the ways the organization deals to handle the kind of stress the employees face. To know how the organization gets affected due to the stress faced by the employees.

BENEFITS OF STRESS MANAGEMENT:

Knowledge earning.

Gaining practical exposure to overcome stress during work time.

Gain knowledge to follow tactics to get relief from stress level during working.

This research will be beneficial for companies and employer too because from this report they will get an idea to keep the employee satisfaction and motivated by lowering the stress level.

From, this research, they will get the knowledge about required changes in their strategies and to overcome stress level.

STRESS MANAGEMENT STRATEGY:

1)      Avoid unnecessary stress.

(i)                 Learn how to say ‘no’.

(ii)               Avoid people who stress you out.

(iii)             Take control of your environment.

(iv)             Avoid hot-buttons topics.

(v)               Pare down your to-do list.

2)      Alter the situation.

(i)                 Express your feelings instead of bottling them up.

(ii)               Be willing to compromise.

(iii)             Be more assertive.

(iv)             Manage your time better.

3)      Adapt to the stressor.

(i)                 Reframe problems.

(ii)               Look at the big picture.

(iii)             Adjust your standards.

(iv)             Focus on the positive.

4)      Accept the things you can’t change.

(i)                 Don’t try to control the uncontrollable.

(ii)               Look for upside.

(iii)             Share your feeling.

(iv)             Learn to forgive.

5)      Make time for fun and relaxation.

(i)                 Set aside relaxation time.

(ii)               Connect with others.

(iii)             Do something you enjoy everyday.

(iv)             Keep your sense of humor.

6)      Adopt a healthy lifestyle.

(i)                 Exercise regularly.

(ii)               Get enough sleep.

(iii)             Eat a healthy diet.

MODELS OF STRESS MANAGEMENT:

a) Transactional Model :
According to ‘Richard Lazarus’ and ‘Susan Flokman,”Stress is the result of imbalance between demands and resources.” Or “as occuring when pressure exceeds one’s perceived ability to cope.”
In order to develop an effective stress management program it is first necessary to identify the factors that are central to a personal controlling his /her stress, and to identify the intervention methods which effectively target these factor. Lazarus and Flokman’s interpretation of stress focuses on the transaction between people and their external environment.

 The model conceptualize stress as a result of how a stressors is appraised and how a person appraisers his / her resources to cope with the stressors. The model breaks the stressors stress link by proposing that is stressors are perceived as positive or challenging rather than a threat, and if the stressed person is confident that he / she possesses adequate rather than deficient coping strategies, stress may not necessary follow the person of a potential stressors. The model proposes that stress can be reduced by helping stressed people change their perceptions of stressors, providing them with strategies to help them cope and improving their confidence in their ability to do so.
b) Innate Health Model :

The health realization / innate health model of stress is also founded on the idea that stress does not necessarily follows the presence of a potential stressors. Instead of focusing on the individual’s appraisal of so-called stressors in relation to his own coping skills (as the transactional model does), the health realization model focuses on the nature of thought, stating that it is ultimately a person’s thought processes that determine the response to potentially stressful external circumstances. In this model, stress results from appraising oneself and one’s circumstances through a mental filter of insecurity and negativity, whereas a feeling of well-being result from approaching the world with a “quite mind”, “inner wisdom” and “common sense”.
This model proposes that helping stressed individuals understand the nature of thought especially providing them with the ability to recognize when they are in the grip of insecure thinking, disengage from it ,and access natural positive feelings will reduced this stress.

RESULTS OF STRESS:

Stress is not something you can afford to take a lightly. Unrelieved stress can damage your physical and mental health and that of your friends in many ways:

i)                    It causes muscles to tense, leading to headaches, neck ache, jaw pain, and backache.

ii)                  It brings on stomach pain, indigestion, upset bowels, or ulcers.

iii)                It deepens feelings of anxiety, nervousness, tension, and helplessness.

iv)                It increase your anger or irritability, and can lead to chest pain.

v)                  It can lead to depression, exhaustion, lack of concentration, and insomnia.

vi)                It can result in restlessness, boredom, confusion or the impulse to run and hide.

NEED OF STRESS MANAGEMENT:

 In the past decade, the news headlines have definitely made it clear that the need for stress management should be one of the top agendas in modern days society.

Living today is a lot tougher than it was even in the days of the great depression. It’s been coming out in many ways such as all time occurrence of stomach and intestine ulcers. Others finds sleep disorders during busy days.

Today stress management is important in everyone’s lives. It’s necessary for long happy lives with less trouble that will come about. There are many ways to deal with stress ranging from the dealing with the causes of stress to simply burning off its effects.

ADVANTAGES OF STRESS MANAGEMENT:

1)      Business advantages of stress management:

(i)                 Less absenteeism due to stress-related disorders.

(ii)               Less worker’s compensation loss due to stress-related illness or accidents.

(iii)             Improved job performance.

(iv)             Less stressful, more efficient workplace.

(v)               Improved employee attitude.

(vi)             Improved employee overall health.

2)      Health advantages of stress management:

(i)                 Decreased stress-related symptoms.

(ii)               Improved sleep.

(iii)             Decreased anxiety.

(iv)             Decreased use of medication.

(v)               Decreased pain, increased ability to manage pain.

(vi)             Increased ability to relax physiologically.

(vii)           Increased sense of control and improved self-esteem.

DISADVANTAGES OF STRESS MANAGEMENT:

Stress can be a motivator. For example, if you’re stressed out because you have a big assignment due, this may motivate you to work on it and complete it. The stress can help you to put in your very best effort. If you’re afraid of losing your job, stress may encourage you to raise your own standards and make improvements you most likely wouldn’t have made without the threat of unemployment.

Stress is a disadvantage because it can potentially raise your heart rate and weaken your immune system. Also, it can be a fact or in poor decision – making because under stress we may not think logically or consider the consequences of the choices we make.

While we all experience stress frequently in our daily lives, not everyone handles it in positive ways. The key for us all is to learn what strategies and behaviors help us to cope with stress in a positive manner.

CONCLUSION:
Stress can be both positive and negative, which has an impact on the employee’s performance at work. If taken positively, the results are positive, and if taken in a negative way, may yield disastrous results. For most of the people, low to moderate amount of stress enable them to perform their jobs better. However, a high level of stress or for that matter even a low – level stress spread over a long period, eventually takes its toll, and the performance declines.

Attrition in IT industry.

TITLE OF THE PAPER: ATTRITION IN IT INDUSTRY, CHENNAI 

AUTHOR: MAHISHA SURA MARDHINI

 Abstract:

Attrition is one of  important problem the IT industries are facing now a days. Thus, I have done research on this subject.

The primary objective of this research is to study the attrition in IT industry in Chennai.

The secondary objective of this study is know what are the reasons for the employees to leave their jobs, to evaluate how the employees are valued to the organization and to prove that the organization policies should be supportive to the staffs working there.

I have used the Descriptive Research design for the research.

Also, have collected primary and secondary to do this research.

The sampling unit used is the IT industry, the sample size of the research is 20.

I have used Questionnaire for collecting the data’s.

Percentage Analysis and Chi square are the two statistical tools used for Analysis.

The study reveals that the employees are leaving the organization because of the work stress and the company policies are supportive to the employees.

INTRODUCTION:

Attrition: A reduction in the number of employees through retirement, resignation or death. Employee turnover is an enormous problem for any company and creates negative bottom-line impacts. The costs associated with employee turnover show up in such areas as advertising for new employees and the time and money necessary to screen the applicants, training new employees, lost productivity, decreased accuracy and quality of work among the employees left behind who are upset about their colleague’s departure, using expensive contract and temporary employees to do the work until a permanent employee is hired, and the expenses associated with replacing lost business.

Employee turnover costs can amount to thousands of dollars, annually. It can also prevent companies from pursuing their growth opportunities and acquiring new business & Attrition rate is the rate of shrinkage in size or number

 Types of attrition:

There are three types as follows:

 Market Driven – based on the demand for a particular skill or ability in temporarily low supply(self-correcting in normal markets). The typical initial reaction by employers to market driven attrition is to increase wages, offer better benefits, escape the market by relocation or site migration or relax hiring standards.

Workload or Stress Driven – on the actual capacity to perform the work required. This is when there are not enough of the right people.

Process Driven – variables associated with job design and/or the organization. In some industries and organizations there is a belief that attrition has always been there and always will be there. Addressing this scenario produces the most lasting results.

Attrition Cycle & drivers

Typically, in organizations experiencing systemic or chronic attrition, a cycle develops as:

Attrition normally brings decreased productivity. People leave causing others to work  harder. This contributes to more attrition, which contributes to increasing costs, lowe revenue. This often forces additional cost reductions and austerity measures on an organization. This in turn makes working more difficult, causing the best performers with the most external opportunities, to leave.

There are two primary drivers of voluntary attrition. These are, no one likes to feel inadequate and, in most organizations, it is easier to leave than stay and try to alleviate the  problem. People feel inadequate when communication is either incomplete or unreliable.

Choices are either absent or insufficient. Often, the challenges in these situations are unclear, unsatisfying or overwhelming. People will give up trying to change things when promises are not specific, not kept or are not fulfilled in a timely manner. Additionally, when expectations are thwarted, changed arbitrarily or unfulfilled, people will lose motivation.

Other common demotivators are when commitments are unacknowledged, vague or incompatible.

Rarely do organizations create environments where employees can meaningfully participate in activities, which will reduce turnover. Attrition is commonly thought of as people

terminating employment. Another form of classifying types of attrition are:

•   Empty Chair Attrition: Employees quit and leave

•   Warm Chair Attrition: Employees quit and stay.

OBJECTIVE OF THE RESEARCH :

Primary Objective:

A Study on attrition in IT industry, Chennai.

Secondary Objective:

To know the major reasons for employees to leave their jobs.

To evaluate how an employee is valued as a part of this office.

To study  whether the  promoting respect and fair treatment among all staff is a high priority of this office.

To find  whether  the communication between staff and management is effective.

To study whether  the workload in this office is distributed equitably.

To evaluate whether the employee know exactly what is expected of him/her as an employee.

RESEARCH METHODOLOGY

Research methodology is a science of studying how research is done scientifically. Methodology helps to understand not only the products of scientific inquiry but the process itself. Aims to describe and analyse methods, throw light on their limitations and resources, clarify their presuppositions and consequences.

Research Design:

This research is of descriptive. In descriptive research, we have sufficient data on the concept and research material. Because many research have been done on the same concept. Therefore, nothing new is in this concept while I am going to study. I have used questionnaire method for collecting data.

Sources of data:

The data used in this research involves both primary and secondary.

Primary data:

Primary data are directly collected from the original sources. The primary data is collected in the form of responses from the employees using survey method.

Secondary data:

Secondary data is the data that has already been collected by someone else for a different purpose of yours.

Sampling Techniques:

Sample Unit:

The sampling unit is IT industry, Chennai.

 Sample size:

My sample size is 20.

Tools used for data collection:

 Questionnaire:

A questionnaire is sent to the person concerned with request to answer the question and return the questionnaire. A questionnaire consists of a number of question printed or typed in a definite order on a form. The respondents have to answer the question on their own. I have used like scale which consists of 10 question and respondents have to answer for the questions asked.

Tools used for Analysis:

 Statistical tool:

Percentage Analysis:

 Percentage analysis is the method to represent raw streams of data as a percentage for better understanding of data collected.

Chi-square Test:

 The measure of chi-square enables us to find out the degree of discrepancy between observed frequencies and theoretical frequencies is due to error of sampling or due to chance.

 ANALYSIS:

Survey research was conducted for the collection of data from a representative sample of Chennai employee’s in IT industry.

The data collected have been analysed.

The age-wise classification of the respondents is depicted in the table.

Age wise                                      No. of respondents                                     Percentage

Below 22                                                   9                                                          45

22 – 24                                                       4                                                         20

25 – 27                                                       3                                                         15

28 – 30                                                       2                                                         10

Above 30                                                   2                                                         10

Interference:

From the above table, it is interfered that 45% of the respondents are of age below 22, 10 % of the respondents are of age group 28 – 30 and above 30.

The table showing whether the office has policies that are supportive to its staff.

Opinion                                                No. of respondents                                    Percentage

Strongly Agree                                             3                                                                 15

Agree                                                                4                                                                20

Neither Agree Nor Disagree                    6                                                                 30

Strongly Disagree                                        2                                                                 10

Disagree                                                           5                                                                 25

TESTING OF HYPOTHESIS

The hypothesis assumed in the study has been tested with help of chi-square test.

The formula used is X2 = ∑(O-E)2/E

Age of the respondent

The office has policies that are supportive to its staff

Strongly Agree Agree Neither Agree Nor Disagree Strongly Disagree Disagree
Below 22 1 2 3 3
22 – 24 1 2 1
25 – 27 1 1 1
28 – 30 1 1
Above 30 1 1

The expected frequencies can be calculated using the formula.

Expected frequency = ( Row Total x Column Total) / Grand Total.

The expected frequencies are,

Age of the respondent

The office has policies that are supportive to its staff

Strongly Agree Agree Neither Agree Nor Disagree Strongly Disagree Disagree
Below 22 1.8 1.35 2.7 0.9 2.25
22 – 24 0.8 0.6 1.2 0.4 1
25 – 27 0.6 0.45 0.9 0.3 0.75
28 – 30 0.4 0.3 0.6 0.2 0.5
Above 30 0.4 0.3 0.6 0.2 0.5

When applying X2,

O E O-E (O-E)2 (O-E)2/E
1 1.8 -0.8 0.64 0.35
1 0.8 0.2 0.4 0.5
1 0.6 0.4 0.16 0.26
0.4 -0.4 0.16 0.4
1 0.4 0.6 0.36 0.9
2 1.35 0.65 0.42 0.31
0.6 -0.6 0.36 0.6
1 0.45 0.55 0.30 0.67
0.3 -0.3 0.9 0.3
0.3 -0.3 0.9 0.3
3 2.7 0.3 0.9 0.33
2 1.2 0.8 0.64 0.53
1 0.9 0.1 0.1 0.1
0.6 -0.6 0.36 0.6
0.6 -0.6 0.36 0.6
0.9 -0.9 0.81 0.9
0.4 -0.4 0.16 0.4
0.3 -0.3 0.9 0.3
1 0.2 0.8 0.64 0.32
1 0.2 0.8 0.64 0.32
3 2.25 0.75 0.56 0.24
1 1 0 0 0
0.75 -0.75 0.56 0.74
1 0.5 0.5 0.25 0.5
0.5 -0.5 0.25 0.5
Total 10.97

Calculated Value = X2 = ∑(O-E)2/E

X2 = 10.97

Degree of freedom

=   (r-1) (c-1)

=   (5-1) (5-1)

=   (4) (4)

=   16

Level of significant = 0.05

Table value of  16  =  26.30.

Conclusion:

The table value of X2 for 16 d.f at 0.05% level of significance is 26.30. The calculated value of X2 (10.97) is less than the table value. Thus H0 is accepted. Thus, there is no relationship between the age of the respondents and the office has policies that are supportive to its staff.

FINDINGS:

  • It is found that most of the respondents leave the job due to work stress and few respondents leave their job due to continue their Higher Education.
  • It is observed that the respondents agree that the employee is valued as a part in his office and  few of the respondents Disagree that the employee is valued as a part in his office.
  • Most of the respondents agree that the employee are fairly treated and respected and few of the respondents Disagree that the employees are fairly treated and respected.
  • It is found that most of the respondents Agree that the employee have a clear sense of future direction in this office and few of the respondents Strongly Disagree that the  employee have a clear sense of future direction in this office.
  • Most of the respondents Agree that the office has policies that are supportive to its staff and few of  the respondents Disagree that the  office  has policies that are supportive to its staff.
  • It is observed that most of the respondents agree that the work load in this office is distributed equitably and  only few of the respondents Disagree that the  work load in this
  • office is distributed equitably.
  • Most of the respondents Agree that the employee exactly know what is expected from his/her as an employee and only few of the respondents Disagree that the employee exactly know what is expected from his/her as an employee.

SUGGESTIONS:

  • Working conditions should be improved.
  • Employee should be valued as a part in his office.
  • The communication between the staff and the management should be effective.
  • The office policies should be supportive to the employees.
  • Workloads in the office should be distributed equally.
  • There should be a regular staff meeting conducted by the management.
  • Employees should be given constructive feedback about the work performed.

CONCLUSION:

To conclude, IT firms need to understand that now, the case is not about giving more salaries and preventing the employees from leaving.

Employees need much more than what is obvious. A long-term relationship needs to be established with its employees.

Moreover, employees in this sector need a lot of personal space and a well thought-out career growth plan.Also, HR practices are needed to be fine-tuned so as to get the right kind of employees. Some of the strategies suggested in this paper can be very easily implemented without any cost to the company.

Some other strategies are not so easily implantable, but are very important for the growth of this sector, and are necessary for benefiting the country on the whole.

 

EHR

Ms. Priya Lakshita had asked me to share some link about EHR in public services for her M.Phil. dissertation, hence im sharing it here, so that it may be helpful for others too.

Find the links below:

 
 

Mahisha sura mardhini

Mahisha sura mardhini

Financial Performance Analysis

FINANCIAL PERFORMANCE ANALYSIS

Financial performance analysis is the process of identifying the financial strengths and weaknesses of the firm by properly establishing the relationship between the items of balance sheet and profit and loss account. It also helps in short-term and long term forecasting and growth can be identified with the help of financial performance analysis.The dictionary meaning of ‘analysis’ is to resolve or separate a thing in to its element or components parts for tracing their relation to the things as whole and to each other.The analysis of financial statement is a process of evaluating the relationship between the component parts of financial statement to obtain a better understanding of the firm’s position and performace.This analysis can be undertaken by management of the firm or by parties outside the namely, owners,creditors,investors.

The analysis of financial statement represents three major steps:

  • The first step involves the re-organization of the entire financial data contained  the financial statements. Therefore the financial statements are broke down into individual components and re-grouped into few principle elements according to their resemblances and affinities. Thus the balance sheet and profit and loss accounts are completely re-casted and presented in the condensed form entirely different from their original shapeThe second step is the establishment of significant relationships between the individual components of balance sheet and profit and loss account. This is done through the application tools of financial analysis like Ratio analysis, Trend analysis, Common size balance sheet and comparative Balance sheet.
  • Finally, the result obtained by means of application of financial tools is evaluated.
  • In brief financial analysis is the process of selection, relation and evaluation of financial statements. The tools of analysis are used for determining the investment value of the business, credit rating and for testing efficiency of operation.

Thus financial analysis helps to highlight the facts and relationships concerning managerial performance, corporate efficiency, financial strength and weakness and credit worthiness of the company.

OBJECTIVES:

  • To study the financial performance analysis of “THE CHENNAI PORT TRUST”.
  • To analyze the financial changes over a period of five years.
  • To analyze the financial statements of the company by using financial tools.
  • To evaluate the financial position of the company in terms of solvency, profitability, activity and earning ratios.
  • To suggest effective measures in the existing system of the company.
    RESEARCH METHODOLOGY : Research means “know about new things”. Sometimes, it may refer to scientific and systematic search pertinent information on specific topic. In fact research is an art of scientific investigation.
    According to Clifford Woody research comprises of. “define and redefining problem, formulating hypothesis or suggested solution, collecting, organizing and evaluating data; making deduction and reaching conclusion; and at last carefully testing the conclusion to determine whether they fit the formulating hypothesis”. Redman and Moray define research as a “systematic effort to gain new knowledge”. Research can be defined as the search of knowledge or any systematic investigation to establish fact. The primary purpose for applied research (as opposed to basic research) is discovering, interpreting, and the development of methods and systems for the advancement of human knowledge on a wide variety of scientific matters of our world and the universe. Research can use the scientific method, but need not do so.Research can also be said as a process that is followed by a person to answer either his/her own queries or somebody else queries about a particular object, person, subject etc.Data collection: The data collections classified into two types are

    • Primary data
    • Secondary data

    Secondary data

    The secondary data are data are collected from information which is used by other. It is not direct information. This information is already collected and analysis by other and that information is used by others. The secondary data are collected from following:-

    • Company’s annual report
    • Company’s website
    • Manual

    Data analysis:

    The data’s analyzed using the following tools:-

    • Comparative Balance sheet
    • Common size balance sheet
    • Ratio analysis
    • Trend Analysis

    NEED FOR THE STUDY:Financial statement analysis is an important tool for measuring the financial performance of any company. The main aspect of financial management is working capital management and it should be done on day-to-day basis. Hence the company permits me to do in the area of finance. This study helps to review the financial performance of the company.

    Scope of the study

    The study covers almost the entire area of financial operations covered by THE CHENNAI PORT TRUST” the study has been conducted with the help of data obtained from audited financial records. The audited financial records are the company annual reports pertaining to past 5 years from 2004-05 to 2008-2009 and the audited financial records are obtained from the company’s annual report. The researcher tries to measure the performance of the organization and its working capital management in terms of financial wealth.

    LIMITATIONS OF THE STUDY:

    • The study is restricted for a period of five years
    • Assumed that 5 years are a responsible period to get fault accurate picture

    policies and practices of management of the company.

    • Due to the inadequate time it is not possible to analyze all respects relevant to the study.
    • The analysis is based on annual reports of the company.
    • Authorities were reluctant to reveal full information about the working of the Company.

    REVIEW OF LITERATURE

    FINANCIAL ACCOUNTING:

    Financial accounting is the process of systematic recording of the business transactions in the various books of accounts maintained by the organization with the ultimate intention of preparing the financial statement there from. These financial statements are basically in two forms. One, profitability statement which indicates the result of operations carried out by the organization during a given period of time and second balance sheet which indicates the state of affairs of the organization at any given point of time in terms of its assets and liabilities.

    Main purpose of financial accounting is to ascertain profit or loss and to indicate financial position of an enterprise. Two fundamental statements of financial accounting are income and expenditure statement and balance sheet. The profit and loss account or income and expenditure account is prepared for a particular period to find out the profitability of the firm and balance sheet is prepared on a particular date to determine the financial position of the firm.

    Financial accounting summaries transactions taking place during a period with the objective of preparing the financial statement.

    FINANCIAL PERFORMANCE ANALYSIS

    Financial performance analysis is the process of identifying the financial strengths and weaknesses of the firm by properly establishing the relationship between the items of balance sheet and profit and loss account. It also helps in short-term and long-term forecasting and growth can be identified with the help of financial performance analysis.

    The dictionary meaning of ‘analysis’ is to resolve or separate a thing in to its element or components parts for tracing their relation to the things as whole and to each other.

    FINANCIAL STATEMENTS

    ‘FINANCIAL STATEMENT’ refers to formal ad original statements prepared by a business concern to disclose its financial information

    According to John.N.Meyer, “The financial statement provides summary of accounts of a business enterprise, the balance sheet reflecting assets, liabilities and capital as on a certain date and the income statement showing the result of operation during a certain period”

    The financial statements are prepared with a view to depict the financial position of the concern. They are based on the recorded facts and are usually expressed in monetary terms. The financial statement are prepared periodically that is generally for the accounting period

    The term financial statement has been widely used to represent two statements prepared by accountants at the end of specific period. They are :

    • Profit and loss a/c or income statement
    • Balance sheet or statement of financial position

    Limitation of Financial Statement:

    • Information shown in financial statement is not precise since it is based on practical experience and the conventions and rules developed therefore
    • Financial statements do not always disclose the correct financial position of the business concern as they are influenced by the personal opinions,judgement,subjective view and whims of accountant of each concern
    • Balance sheet of a concern is a statics document it disclose the financial position of a concern on a particular date.
    • Information disclosed by profit& loss a/c may not be the real profit as many items shown in the profit & loss a/c may not the real
    • Financial statements are dumb, because they speak themselves. The statements require further detailed analysis and interpretation.
    • Financial statement of the one period may not be comparable.
    • Financial statement do not disclose the contribution of man towards the efficiency of the business.

    ANALYSIS AND INTERPRETATION OF FINANCIAL STATEMENT

    The various tools of financial statement are used for decision-making process. The financial statement becomes a tool for future planning and forecasting. The analysis of these statements involves their division according to similar groups and arranged in desired form. The interpretation involves the explanation of financial facts in a simplifiers manner.

    Objectives of Analysis and Interpretation:

    The users of financial statement have definite objectives to analysis and interpret .Therefore; there are variations in the objectives of interpretation by various classes of people. However, there are certain specific and common objectives which are listed below:

    • To interpret the profitability and efficiency of various business activities with the help of profit and loss account;
    • To measure managerial efficiency of the firm;
    • To ascertain earning capacity in future period;
    • To measure short-term and long -term solvency of the business;
    • To determine future positional of the concern;
    • To measure utilization of various assets during the period;
    • To compare operational efficiency of similar concerns engaged in the same industry

    Type of Analysis:

    The process of financial statement analysis is of different types. The process of analysis is classified on the basis of information used and ‘modus operandi’ of analysis. The classification is as under:

    Financial statement analysis

    On the basis of information on basis of ‘modus operandi’ of

    Used: analysis:

    (a) External analysis (a) Horizontal analysis

    (b) Internal analysis (b) Vertical analysis

    LIMITATIONS OF FINANCIAL STATEMENT ANALYSIS

    Financial statement analysis is a very important device but it has Certain limitation which are to be kept in mind. Following are the limitations of financial statement analysis.

    1. Based on past data:

    The nature of financial statements is historical. Past cannot be the index of future estimation, forecasting, budgeting and planning.

    1. Financial statement analysis cannot be a substitute for judgment :

    Analysis is a tools which can be utilized usefully by an expert may lead to erroneous conclusion by unskilled analysis. Thus the result analysis cannot be considered as judgment or conclusion.

    1. Reliability of figures:

    The accuracy and reliability of analysis depends on reliability of figures derived from financial statement.

    1. Different interpretation:

    Result of the analysis may be interpreted differently by different user

    1. Change in accounting methods:

    Analysis will be effective if the figures taken from financial statements comparable. If there are frequent change in accounting policies and method, figures of different periods will be different and comparable.

    1. Price level change:

    The ever rising inflation erodes the value of money in the present day economic situation, which reduces the validity of analysis.

    1. Limitations of the tools of analysis:

    Different techniques of analysis are used by an analyst. These tools are suitable for different type of analysis. Application of a particular tool or technique depends on the skill and expertise of the analyst. If an unsuitable technique is used, it give misleading result. It may lead to wrong conclusions and prove harmful to the business concern.

    METHODS OF ANALYSIS AND INTERPRETATION

    The analysis and interpretation of financial statement is used to determine the financial position and result of operation as well. The following are the tools that are used for analyzing the financial position of the company:

    • Ratio Analysis
    • Comparative balance sheet
    • Common size balance sheet
    • Trend analysis

    RATIO ANALYSIS

    Ratio analysis is an important and age-old technique. It is a powerful tool of financial Analysis. It is defined as “The indicated quotient of two mathematical expressions” and as “the relationship between two or more things” .Systematic use of ratio is to interpret the financial statement so that the strength and weakness of a firm as well as its historical performance and current financial condition can be determined.

    A ratio is only comparison of the numerator with the denominator .The term ratio refers to the numerical or quantitative relationship between two figures. Thus, ratio is the relationship between two figures and obtained by dividing a former by the latter. Ratios are designed show how one number is related to another.

    The data given in the financial statements are in absolute form and are dumb and are unable to communicate anything. Ratios are relative form of financial data and are very useful technique to check upon the efficiency of a firm. Some ratios indicate the trend or progress or downfall of the firm.

    In the view of the requirements of the various users of ratio, it is divided in to the following important categories.

    • 1. Liquidity ratios
    • 2. Activity ratios
    • 3. Profitability ratios
    • 4. Earning ratios

    LIQUIDITY RATIOS:

    Liquidity ratios measure the ability of the firm to meet it’s a current obligation. In fact, analysis of liquidity needs the preparation of cash budgets and cash and fund flow statements; but liquidity ratios, by establishing a relationship between cash and other current asset to current obligations provide a quick measure of liquidity.

    A firm should ensure that it does not suffer From lack or liquidity, and it does not have excess liquidity .the failure of the company to meet its obligations due to its lack of liquidity, will result in a poor creditworthiness, loss of creditor’s confidence, or even in legal tangles resulting in the closure of the company a very high degree of liquidity is also bad idle assets earn nothing. The firms fund will be unnecessarily tied up in current assets. Therefore it is necessary to strike a proper balance between high liquidity and lack of liquidity.

    ACTIVITY RATIO OR TURNOVER RATIO:

    Activity Ratio highlights the activity and the operational efficiency of the business concern . The better managements of asserts the larger the amount of sales. Activity ratio measures the relationship between the sales and the assets. Turnover ratios are employed to evaluate the efficiency with which the firm manages and utilize s its assets. Their ratio indicates the speed with which assets are brought converted as turn over into sales.

    PROFITABILITY RATIOS:

    Profitability reflects the final result of the business operations. Profit earning is considered essential for the survival of the business. There are two types of profitability ratios profit margin ratio and the rate of return ratios. Profit margin ratio shows the relationship between profit and sales.

    Popular profit margin ratios are gross profit margin and net profit margin ratio. Rate of return ratio reflects between profit and investment. The important rates of return measures are rate of return on total assets and rate in equity.

    EARNINGS RATIOS:

    Earnings are income to the shareholders of the share invested by them. Hence the earning ratio will be useful to the investors to the value of the shares that is been holding by them

    COMPARATIVE BALANCE SHEET:

    The comparative balance sheet is helpful in analysing and evaluating the financial position of the firm over a period of years. The comparative balance sheet analyse is the study of the trend of the same items, group of items, and computed items in two or more balance sheet of the same business enterprise on different dates.

    The changes in periodic balance sheet items reflect the conduct of a business. The changes can be observed by comparison of the balance sheet at the beginning and at the end of the period and these changes can help in forming an opinion about the progress of an enterprise

    COMMON SIZE BALANCE SHEET:

    Financial statements when read in absolute figure are not easily understandable. They are even miss leading. Each items of asset is converted in to percentage to total asset and each item of capital and liabilities is expressed to total liability and capital fund. Thus the whole balance sheet is converted in to percentage form i.e., every individual item stated as a percentage of total 100.such converted balance sheet is known as common size balance sheet. The percentage so calculated can be easily compared with the corresponding percentages in some other period.

    TREND ANALYSIS:

    The ‘trend’ signifies a tendency and as such the review and appraisal of tendency in accounting variables are nothing but the trend analysis. Trend analysis is carried out by calculating trend ratio. Trend analysis is significant for forecasting and budgeting. Trend analysis discloses the change in financial and the operating data between specific periods.

E-HRM – Paper Presentation

MAHISHA SURAMARDHINI,Asst. Professor.

E-HRM

INTRODUCTION: The processing and transmission of digitalized HR information is called electronic human resource management (e-HRM). E-HRM is the application of IT for HR practices which enables easy interactions within employee and employers. It stores information regarding payroll, employee personal data, performance management, training, recruitment and strategic orientation. Information technology is changing the way HR departments handle record keeping and information sharing. It decreases the paperwork substantially and allows easy access to voluminous data. The employee can also keep track of his/her achievements without having to go through litigious procedures. It uses intranet or other web technology channels. It can also be used for implementation of different HR strategies. The authorization of different HR functions can be distributed through E-HRM.

Competitive business environments have compelled the organizations to think speedily to innovate and excel for their survival. Technology advancement is one of the powerful driving forces. It has reshaped the way we communicate, live, work and also the way a business is conducted. Corporations need to shift from physical technology to information technology, from capital centered economy to human centered economy, and further from conflict to cooperative working relationships. Since many years now, information technology seems to be affecting individuals and organizations communication and behaviours. The change in Information Technology is faster than any other processes in the organization. One of the major hurdles which the HR department needs to cross, is the changing technological environment. The IT possibilities for HRM are endless; in principle all HR processes can be supported by IT. Computers have simplified the task of analyzing vast amounts of data and they can be invaluable aids in HR management, from payroll processing to record retention. With computer hardware, software and databases, organization can keep records and information better as well as retrieve them with greater ease. E-HRM is the relatively new term for this IT supported HRM, especially through the use of web technology. E-HRM is the new field of technology that is widely spreading in organizations around the world. It aims at transforming the HR functions into one that is paperless, more flexible and resource efficient. With the state of IT, HRM has become more effective through the use of e-HRM technologies.  E-HRM has the potential to change the way traditional HRM functions are performed. For e.g. in the analysis and design of work, employees in geographically dispersed locations can work together in virtual teams using videos, e-mail etc. Under recruitment function, job openings can be posted online, and candidates can apply for jobs online. On compensation and benefits issues, e-HRM will make it easy for employees to review salary and bonus information and seek information about bonus plans

DEFINITION: E-HRM is a way of implementing HR strategies, policies, and practices in organization through a conscious and direct support of and/or with full use of web-technology based channels.

OBJECTIVE: To study what is e-HRM (its objective, scope, limitations, functions, benefits, goals, outcomes, and consequences) and how e-HRM is shaping organization in a technology driven environment.

REVIEW OF LITERATURE: Literature review examines recent research studies, company data, or industry reports that act as a basis for the proposed study.

According to Biswanath Ghosh [2002], in an organization the most valuable input is the human element. The success or failure of an organization depends to a large extent on the persons who manage and run the organization. In business the greatest asset is the human resource of the enterprise and not the plant, equipment or the big buildings it owns. There was a time when manpower was considered as a cost factor but not it is recognized as an investment. The e -HRM can range from basic personnel records to sophisticated networks of sub-systems with definite purposes. Today most of these will be computer systems. The manpower information system can provide necessary information in a form which can be integrated with any other business data. With most data base systems, there are facilities to pull out any of the data and present them in the required form. In the view of Michael Armstrong [2003] e-HR provides information required to manage HR processes.´These may be core employee database and payroll systems but can be extended to include such systems as recruitment, e-learning, performance management and reward. The system may be web-based, enabling access to be remote or online and at any time. The information provided by the e-HR process can   communicated across organizations. If posts static data such as information on HR policies and communications about employer facilities such as learning opportunities and flexible benefits. It can include links that enable managers and other employees to interface directly with HR applications and make changes or enquiries.

RESEARCH METHODOLOGY:

Research Design: I did descriptive study.

Research Tools: I did secondary research. I collected data from the internet from various websites, journals, magazines.

DISCUSSION:

EVALUATION OF E-HRM : The evaluation of the E-HRM department is based on six driving forces. These forces need to be harnessed and responded to as companies approach the 21st century. The following six forces must be addressed by HRM departments that want to continuously increase their value while reducing costs.

1. Information technology; HRM professionals are facing a digital future. The rapid growth in the field of computer hardware, software, networking, and telephony services is absolutely essential to the virtual HRM movement. It is not accident that virtual HRM departments will become the norm in the near future. This is especially true with the increase sophistication and lower costs of information age technology and automated processes.

2.Processes re-engineering; strategic HRM managers are constantly looking for ways to streamline and improve core business processes to make them efficient.All business processes especially those in the HRM department can be reengineered and improved through the skillful application of information technology.

3. High-speed management; to be competitive, all companies must work smarter and faster. Virtual HRM is definitely a smarter and quicker form of service delivery than traditional HRM.

4. Networked organizations; virtual HRM departments are more likely to emerge in networked organizations than in traditional and bureaucratic companies. The proliferation of information technology such as local area networks,e-mail, and corporate intranets are the trademarks of a flatter networked company. These new-wave organizations offer state-of-the-art technology and information sharing to empower all levels of  personals.

5. Knowledge workers; the 21st century organization will compete on strategic information and knowledge. These ³learning organizations´ will be staffed with self-directed and computer savvy, knowledge workers. These workers will excel at using information to quickly identify and capture lucrative business opportunities while also diligently identifying and resolving costly problems.

6. Globalization; to complete successfully in the 21st century, nearly all companies must develop a global business strategy. This means that HRM departments must be capable of providing services to their employees anywhere on earth. Obviously, a technology-assisted HRM department that is skilled at traversing the information super highway, is in the best position to support a globalized work force.

In summary, all of the aforementioned forces are designed to get rid of outmoded organizational processes, procedures, layers and boundaries that add cost and form barriers between the HRM department and the company employees. Moreover, all of these forces reflect the enormous impact that information technology has, and will continue to have, on every process and procedure in the HRM department. Successful information of a virtual HRM department will clearly increase a company competitive advantage.

THE STATE OF HRM IN AN ORGANIZATION

E-HRM is a way of implementing HR strategies, policies, and practices in organizations through a conscious and directed support of and/or with the full use of web-based channels. E-HRM is a concept a way of µdoing¶ HRM. This is not to ignore the fact that E-HRM can transform the nature of HRM strategies, policies and practices. Researchers are searching for relevant and adequate theory that can fully grasp the concept of E-HRM, and frequently present fragmented empirical evidence, particularly on E-HRM sub-fields such as e-recruitment and e-learning, these-called earlybird´ areas where web technology was first adopted.

OBJECTIVES: E -HRM is designed to achieve the following objectives:

  • To offer an adequate, comprehensive and on-going information system about people and jobs   at a reasonable cost;
  •  To provide support for future planning and also for policy formulations;
  •  To facilitate monitoring of human resources demand and supply imbalance
  • To automate employee related information;
  •  To enable faster response to employee related services and faster HR related decisions and;
  • To offer data security and personal privacy.

SCOPE OF E-HRM:

  • A decisive step towards a paperless office;
  •  Higher speed of retrieval and processing of data;
  • More consistent and higher accuracy of
  • information/report generated;
  • Fast response to answer queries
  •  A higher internal profile for HR leading to
  • better work culture
  • More transparency in the system
  • Significant reduction of administrative burden
  • Adaptability to any client and facilitating management;
  •   Integral support for the management of human resources and all other basic and support processes within the company;
  • A more dynamic workflow in the business process, productivity and employee satisfaction.

BENEFITS OF E-HRM: 

  • Standardization
  •  Ease of recruitment, selection and assessment
  • Ease of administering employee records Reductions to cost, time and labour
  •  Access to ESS training enrollment and self-development
  • Cost and ESS
  • Location and timeliness

  -HRM goals: The main goals of e-HRM are as followed:

  • Improving the strategic orientation of HRM
  • Cost reduction/efficiency gains
  • Client service improvements/ facilitating management and employees.

E-HRM outcomes: According to Beer et al(1984) all E-HRM activities, will implicitly or explicitly be directed towards distinguish four possibilities:

high commitment,high competence,cost effectiveness and higher congruence.

These outcomes, in turn, may change the state of HRM in an organization,in to a new HRM state. E-HRM will change the nature of the HR department by making less administrative tasks for the HR department and therefore less administrative positions, more focus on the strategic goals of the organization.

TYPES OF E-HRM: Lepak and Snell(1998) distinguished three areas of HRM as, operational HRM, relational HRM and transformational HRM.

Operational HRM: e-HRM is concerned with administrative function like payroll, employee personal data, etc.

Relational HRM: e-HRM is concerned with supportive business process by the means of training, recruitment, performance management, and so forth.

Transformational HRM: e-HRM is concerned with strategic HR activities such as knowledge management, strategic re-orientation, etc.

E-HRM Tools:

E- Employee Profile: The E-Employee Profile web application provides a central point of access to the employee contact information and provides a comprehensive employee database solution, simplifying HR management and team building by providing an employee skills, organization chart and even pictures. E-Employee profile maintenance lies with the individual employee, the manager and the database manager. E-Employee profile consist of the following:

Certification, Honor/Award, Membership, Education, Past Work  Experience, Assignment Skills, Competency, Employee  Assignment Rules, Employee Availability, Employee Exception Hours, Employee Utilization, Employee tools, Job information, Sensitive job Information, Service Details, Calendar, Calendar Administration, Employee Locator.

E-Recruitment: Organizations first started using computers as a recruiting tool by advertising jobs on a bulletin board service from which prospective applicants would contact employers. Then some companies began to take e-applications. Today the internet has become a primary means for employers to search for job candidates and for applicants to look for job. As many as 100,000 recruiting web sites are available to employers and job candidates and which to post jobs and review resumes of various types. But the explosive growth of internet recruiting also means the HR professionals can be overwhelmed by the breadth and scope of internet recruiting.

E-Recruiting Methods: Job boards, Professional/Career,websites, Employer Websites.

E-Selection: Most employers seem to be embracing Internet recruitment with enthusiasm, the penetration of on-line assessment tools such as personality assessments or ability tests, has so far been limited. A survey has shown that although more than half respondents organizations already use either psychometric or other assessment during the recruitment process, only few of these companies use on-line assessments prior to interview. Fewer still include a core fit questionnaire in the recruitment pages of their websites.

E-Learning: E-Learning refers to any programmed of learning, training or education where electronic devices, applications and processes are used for knowledge creation, management and transfer. E-Learning is a term covering a wide-set of applications and processes, such as web-based learning, computer-based learning, virtual class room, and digital collaboration. It includes the delivery of content via Internet, intranet/extranet (LAN/WAN), audio-and videotape, satellite broadcast, interactive TV,   CD – Rom, and more. Training program provides.

Classical and Virtual Learning: This classical learning model especially from non-reversible flow of information. AT the beginning is the pedagogue, which governs the course. For students, pedagogue offers information, knowledge, and educational materials mostly in the representation of educational lecture notes for lessons. For the most part the feedback is weak, inconsistent, or even missing. Virtual education environment by its communications links collects the feedback of participants, simplifies teaching and simplifies teamwork of students with pedagogue. The virtual learning system enables horizontal and vertical communication. For required information, participant can often gets much more information than in classical model of education as here the other participant also share which is not a real happening in the classical model.

Characteristics of E-Learning:

  • E-Learning outcomes extend beyond learning to strategic outcomes.
  • E-Learning is much more than e-training for skill outcomes.
  • E-Learning involves information and communication technology.
  • E-Learning is about people learning in a given context.

E-Training: Most companies start to think of online learning primarily as a more efficient way to distribute training inside the organization, making it available ”any time”,” anywhere”  reducing direct costs (instructors, printed materials, training facilities), and indirect costs (travel time, lodging and travel expenses, workforce downtimes). Attracted by these significant and measurable advantages, companies start to look for ways to make the most of their existing core training available online, and to manage and measure the utilization of the new capabilities.

Characteristic of E-Training:

  • Rich learning interface.
  • Personalized training programs.
  • Training from
  • work place/home
  • Virtual
  • class room.

E-Performance Management system: A web-based appraisal system can be defined as the system which uses the web(intranet and internet) to effectively evaluate the skills, knowledge and the performance of the employees.

E-Compensation: All companies whether small or large must engage in compensation planning. Compensation planning is the process of ensuring that managers allocate salary increases equitably across the organization while staying within budget guidelines. As organizations have started expanding their boundaries, usage of intranet and internet has become vital. The usage of intranet and internet for compensation planning is called E-Compensation Management.

Implementation of E-HRM: There are five main phases in the implementation of the E-HRM business solution.

  1. Analysis (Infrastructure)

Analyzing  the existing infrastructure with regard to quantity of data and classification of business activities.

  1. Business processes in the company

After the existing processes have been analyzed, the options for automating these processes in the client’s environment are proposed. Finally a project plan is developed based on the model of the processes identified.

  1. Implementation

After the fundamental analysis of the processes in the work team, individual modules are deployed in the client’s environment. With modular design a gradual implementation is possible. Company-specific functionalities are discussed with the client and built upon request.

  1. Implementation and Training

A complete knowledge of the components of the solution is a key factor for successful implementation. The entire team of project managers, information technology professionals and human resources specialist are thus involved in user training and implementation.

  1. Maintenance

Fast technological development and development of new modules make cooperation after the implementation indispensable. A maintenance contract typically includes:

  • Technical support experts available by phone, through e-mail or on-site
  • Adaptation of existing modules or development of new ones
  • Application software adjustment to changes in the system environment or
  • Operating system
  • Functionality improvement and software upgrades in the form of new versions
  • Consultation about further development of the system.

Advantages of E-HRM

            The E-HRM business models are designed for human resources professionals and executive managers who need support to manage the work force, monitor changes and gather the information needed in decision-making. At the same time it enables all employees to participate in the process and keep track of relevant information.

    • Collection and store of information regarding the work force, which will act as the basis for strategic decision-making
    • Integral support for the management of human resources and all other basic and support processes within the company.
    • Prompt insight into reporting and analysis
    • A more dynamic workflow in the business process, productivity and employee satisfaction
    • A decisive step towards a paperless office
    • Makes the work to get over fast

Disadvantages of E-HRM

  • Employees and line managers’ mindsets need to be changed: they have to realize and accept the usefulness of web-based HR tools.
  • They generally feel that they lack the time space needed to work quietly and thoughtfully with web-based HR tools and so, if there is no need, they will not do it.
  • Guaranteeing the security and confidentiality of input data is an important issue foe employees in order that they should feel ‘safe’ when using web-based HR tools.

CONCLUSION:

E- HRM is a web-based tool to automate and support HR processes. The implementation of e-HRM is an opportunity to delegate the data entry to the employee. e- HRM facilitates the usages of HR marketplace and offers more self-service to the employees. e- HRM (Electronic Human Resource Management) is advance business solution which provides a complete on-line support in the management of all processes, activities, data and information required to manage human resources in a modern company. It is an efficient, reliable, easy – to use tool, accessible to a broad group of different users. e- HRM is a way of implementing HR strategies, policies, and practices in organizations through a conscious and directed support of and/or with the full use of web-technology-based channels. It covers all aspects of human resource management like personnel administration, education and training, career development, corporate organization, job descriptions, hiring process, employee’s personal pages, and annual interviews with employees. Therefore e-HRM is way of doing HRM.

Research Report

Introduction to Research Report

Research report is the process of communicating the results of an investigation. It is a document which reflects about the research conducted and the care that has been taken throughout the study.

According to Lancaster, “A report is a statement of collected and considered facts, so drawn-up as to give clear and concise information to persons who are not already in possession of the full facts of the subject matter of the report”.

Characteristics of Research Report:

Accuracy:  The information provided in reports should be accurate.

Simplicity: A report should be simple. This helps in deriving quick decisions.

Completeness: The report should be complete in all aspects. There should be no space for ambiguity.

Brevity: The investigator will not find sufficient time to read lengthy reports. Therefore the reports should be briefly explain the vital points.

Appearance: The arrangement, organization, format,layout and make-up of a report should be pleasing and eye-catching.

Readability: Reports must be easy to read. They must avoid technical language. The writer must present the facts through elegant and grammatically correct English.

Reliability: Reports should be reliable, and should not create an erroneous impression in the minds of readers either due to oversight or neglect.

Economy: Report writing should not be expensive. The most economical methods and standard quality must be employed, while conveying the information.

Timelines: To be useful and purposive, reports should reach the readers in time. Any delay in submission of reports makes the preparation of reports a futile exercise.

Importance of Report Research:

  • Provide Information
  • Source of concise and organized data
  • Logical presentation
  • Reflects Final Research
  • Tool of Evaluating Researcher
  • Bibliographical Evidence

Types of Research Reports:

  1. Technical Report
  2. Popular Report
  3. Interim Report
  4. Summary Report
  5. Algorithmic Research Report

Technical Report: In the technical report the main emphasis is on (i) the methods employed, (ii) assumptions made in the course of the study, (iii) the detailed presentation of the findings including their limitations and supporting data.

Popular Report: The popular report is one which gives emphasis on simplicity and attractiveness. The simplification should be sought through clear writing, minimization of technical, particular mathematical, details and liberal use of charts and diagrams.

Interim Report: When there is a long time lag between data collection and the presentation of the results in the case of a sponsored project, the study may lose its significance and usefulness and the sponsor may also lose interest in it. One of the most effective ways to avoid such eventualities is to present an interim report.

Summary Report: A summary report is generally prepared for the consumption of the lay audience. The preparation of this type of report is desirable for any study whose findings are of general interest. It is written in non-technical, simple language with a liberal use of pictorial charts.It just contains a brief reference to the objective of the study, its major findings and their implications.

Algorithmic Research Report: There are problems, viz., production scheduling. JIT, supply chain management, line balancing, layout design, portfolio management, etc., exist in reality. The solution for each of the above problems can be obtained through algorithms. So, the researchers should come out with newer algorithms or improved algorithms for such problems.

Research Report Preparation

After deciding the type of report, now the report writer should be concern with its preparation. This can be done when the writer is clear about what aspects, he is going to prepare the report.Let us see the format of research report.

Research Report Format: A research can be written in many ways, but the given three are generally followed:

Logical Pattern: Report may use a logical pattern, which implies that the findings are presented in inductive order.

Psychological Pattern:Report may follow a psychological pattern which is almost inverse of the preceding pattern.

Chronological Format: Report may use a chronological format wherein information is given along the time dimension. 

Principles of Report Writing

  • Easy to follow
  • Adhere to the Study Objectives
  • Be Selective
  • Be Objective
  • Have a Purposeful Organization
  • Write Clearly

Structure of Research Report

  • Title page
  • Table of contents
  • Foreword
  • Statement of Objectives
  • Methodology
  1. Research design
  2. Data Collection Methods
  3. Sampling
  4. Fieldwork
  5. Analysis and Interpretation
  • Limitations
  • Findings
  • Conclusions and Recommendations
  • Annexure
  • Bibliography and References

Steps of Report Writing

  1. Investigating the Sources of Information
  2. Taking notes
  3. Analyzing the data
  4. Making an Outline
  5. Writing a Report

Report Presentation

A presentation is a commitment by the presenter to help the audience to do something to solve a problem. The important thing is that in the presentation occurrence of commitment by the presenter and judgement by the audience is simultaneous.

Characteristics Of a Presentation

  • Proper sequencing
  • Facts and Figures
  • Colors
  • Rapport
  • Fillers
  • Feedback

Stages of Presentation

1) Planning Presentation

  • Identifying the Topic
  • Determining the Purpose
  • Analyze Your Audience

2) Delivering Presentation

  • Memorizing Method
  • Reading Method
  • Outlining Method
  • Speaking Imprompt

3) Developing and Displaying Visual Aids

Media For Presentation

  • Handouts
  • Tables
  • Graphs
  • chalkboard and Whiteboards
  • Flip Charts
  • Slides
  • Computers
  • Videotapes, Audiotapes,Filmstrips and Films
  • Overhead Projector (OHO)
  • 35mm Slider
  • LCD Projectors
  • Models and Physical Objects

4) Handling Questions from the Audience

  • Tips For Presentation
  • Decide your Goal and Topic of Presentation
  • Analyze the Audience
  • Decide the form of Presentation
  • Identify the Audio-Visual Aid Required
  • Know the Venue and the Equipment
  • Rehearse the Presentation
  • Effective Body Language
  • Preparation of Handouts and Assessment Form
  • Be a good Active Listener
  • Do not Read from Notes
  • Maintain Eye Contact

Various Environmental factors Affecting Marketing Function.

Various factors affecting marketing function.

The environmental factors that are affecting marketing function can be classified into :

1) Internal environment and

2) External environment

Internal Environment of Marketing :

This refers to factors existing within a marketing firm. They are also called as controllable factors, because the company has control over these factors :

a) it can alter or modify factors as its personnel, physical facilities, organization and function means, such as marketing mix, to suit the environment.

There are many internal factors that influence the marketing function, they are :

Top Management : The organizational structure, Board of Director, professionalization of management..etc..Factors like the amount of support the top management enjoys from different levels of employees, shareholders and Board of Directors have important influence on the marketing decisions and their implementation.

Finance and Accounting: Accounting refers to measure of revenue and costs to help the marketing and to know how well it is achieving its objectives.Finance refers to funding and using funds to carry out the marketing plan. Financial factors are financial polices, financial position and capital structure.

Research and Development : Research and Development refers to designing the product safe and attractive. They are technological capabilities, determine a company ability to innovate and compete.

Manufacturing : It is responsible for producing the desired quality and quantity of products.Factors which influence the competitiveness of a firm are production capacity technology and efficiency of the productive apparatus, distribution logistics etc.,

Purchasing : Purchasing refers to procurement of goods and services from some external agencies. It is the strategic activity of the business.

Company Image and Brand Equity : The image of the company refers in raising finance, forming joint ventures or other alliances soliciting marketing intermediaries, entering purchase or sales contract, launching new products etc.

In organization, the marketing resources like organization for marketing, quality of marketing, brand equity and distribution network have direct bearing on marketing efficiency. They are important for new product introduction and brand extension, etc..

External Environment of Marketing.

External factors are beyond the control of a firm, its success depends to a large extent on its adaptability to the environment.
The external marketing environment consists of :

a) Macro environment, and

b) Micro environment

a) Micro environment: The environmental factors that are in its proximity. The factors influence the company’s non-capacity to produce and serve the market.The factors are :

1) Suppliers: The suppliers to a firm can also alter its competitive position and marketing capabilities. These are raw material suppliers, energy suppliers, suppliers of labor and capital.According to michael Porter, the relationship between suppliers and the firm epitomizes a power equation between them. This equation is based on the industry condition and the extent to which each of them is dependent on the other.

The bargaining power of the supplier gets maximized in the following situations:

a) The seller firm is a monopoly or an oligopoly firm.

b) The supplier is not obliged to contend with other substitute products for sale to the buyer group.

c) The buyer is not an important customer.

d) The suppliers’ product is an important input to the buyer’s business and finished product.

e) The supplier poses a real threat of forward integration.

2) Market Intermediaries : Every producer has to have a number of intermediaries for promoting, selling and distributing the goods and service to ultimate consumers. These intermediaries may be individual or business firms. These intermediaries are middleman (wholesalers, retailers, agent’s etc. ), distributing agency market service agencies and financial institutions.

3) Customers : The customers may be classified as :

1) Ultimate customers: These customers may be individual and householders.

2) Industrial customers: These customers are organization which buy goods and services for producing other goods and services for the purpose of other earning profits or fulfilling other objectives.

3) Resellers: They are the intermediaries who purchase goods with a view to resell them at a profit. They can be wholesalers, retailers, distributors, etc.

4) Government and other non-profit customers: These customers purchase goods and services to those for whom they are produced, for their consumption in most of the cases.

5) International customers: These customers are individual and organizations of other countries who buy goods and services either for consumption or for industrial use. Such buyers may be consumers, producers, resellers, and governments.

6 )Competitors: Competitors are those who sell the goods and services of the same and similar description, in the same market. Apart from competition on price, there are like product differentiation. Therefore, it is necessary to build an efficient system of marketing. This will bring confidence and better results.

7) Public: It is duty of the company to satisfy the people at large along with its competitors and the consumers. It is necessary for future growth.The action of the company do influence the other groups forming the general public for the company. A public is defined as ‘any group that has an actual or potential interest in or impact on a company’s ability to achieve its objective.’ Public relations are certainly a broad marketing operation which must be fully taken care of.

Macro Environment:   

Macro environment factors act external to the company and are quite uncontrollable. These factors do not affect the marketing ability of the concern directly but indirectly the influence marketing decisions of the company.

These are the macro environmental factors that affect the company’s marketing decisions :

a) Demographic Forces: Here, the marketer monitor the population because people forms markets. Marketers are keenly interested in the size and growth rate of population in different cities, regions, and nations ; age distribution and ethnic mix ; educational levels; households patterns; and regional characteristics and movements.

b)Economic Factors: The economic environment consists of macro-level factors related to means of production and distribution that have an impact on the business of an organization.

c) Physical Forces: Components of physical forces are earth’s natural renewal and non-renewal resources. Natural renewal forces are forest, food products from agriculture or sea etc. Non- renewal natural resources are finite such as oil, coal, minerals, etc. Both of these components quite often change the level and type of resources available to a marketer for his production.

d) Technological Factors: The technological environment consists of factors related to knowledge applied, and the materials and machines used in the production of goods and services that have an impact on the business of an organization.

e) Political and Legal Forces: Developments in political and legal field greatly affect the marketing decisions. sound marketing decision cannot be taken without taking into account, the government agencies, political party in power and in opposition their ideologies, pressure groups, and laws of the land. These variables create tremendous pressures on marketing management. Laws affect production capacity, capability, product design, pricing and promotion. Government in almost all the country intervenes in marketing process irrespective of their political ideologies.

f) Social and Cultural Forces: This concept has crept into marketing literature as an alternative to the marketing concept. The social forces attempt to make the marketing socially responsible. It means that the business firms should take a lead in eliminating socially harmful products and produce only what is beneficial to the society. These are numbers of pressure groups in the society who impose restrictions on the marketing process.