Considering the potential problems in cross-cultural business negotiations, particularly when you mix managers from relationship-oriented cultures with those form information oriented ones, it is a wonder that any international business gets done at all obviously, and the economic imperatives of global trade make much of if happen despite the potential pitfalls. But an appreciation of cultural differences can lead to even better international commercial transaction-it is not just business deals but highly profitable relationships that are the real goal of international business negotiation. For the efficient and effective international business negotiations few steps are important. Which includes: Selection of the appropriate negotiation team. Management of preliminaries, including training, preparation, and manipulation of negotiation settings. Management of the process of negotiations, that is, what happens at the negotiation and table; and Appropriate follow-up procedures and practices. 1. Selection of Negotiation Teams: One reason for global business successes is the large numbers Continue reading
HRM Functions
Family Businesses: Growth Stages and Challenges Faced
Family business can be describe when business own by one or more families members directly or indirectly and have significant ownership and commitment toward the business well being. Family business can be consist of numerous combination of family members such as husband and wife, parents and child, extended family and also multiple generations such as grandfather, father and son. These family members also play roles as stakeholder, board members, working partners, adviser and employees for the company. Generally there are three different stages of family business had gone through in order for the business to growth from inception to maturity. Different skills are required in each stage and family issues might happen when the business moving from one stage to another stage. The first stage is called as start up stage where the business is still new and varies from 1st to 5th year after the company started to venture Continue reading
Principles of Learning in Training
Since training is a form of education some of the principles that emerge from learning theory can be logically applied to training. Learning is the human process by which skills, knowledge, habits and attitudes are acquired and utilized in such a way that behavior is modified. The principles of learning in training provide additional insight into what makes people learn most effectively. The principles have been discovered, tested, and used in practical situations. The following Principles of learning should be satisfied by a good training program: Practice – Employees learn more fast when theory and practice go hand in hand. Employees under training should be given an opportunity to participate in actual work performance. Active Process – The individual learn better when more of his senses are utilized in the efforts and he become more involved in the process of learning. Guidance – Learning is more efficient if it is Continue reading
Profit Sharing as an Incentive Scheme
Profit sharing is the most popular method rewarding the employees. Under profit sharing incentive plan, the employees are paid in addition to the regular wage, a particular share of the net profits of the business as incentive. Characteristics of Profit Sharing Incentive Plans The key features of profit sharing incentive plans may be stated as follows: It is based on an agreement between the employer and the employees. It is a payment made after ascertaining the net profits of the business. It is not therefore, a charge on profits. The amount paid to the employees is over and above their normal pay. The amount to the paid is determined based on some agreed formulas. The payments based on seniority and wage level of individual workers. Merits of Profit Sharing The advantages of profit sharing incentive plans are as follows: Better employer-employee relations – This is possible, as the employer is Continue reading
Job Analysis – Meaning, Roles, Purposes and Types
Human resources management has to plan their activity to reach maximum level of organizational objective. Human resources personnel must have knowledge regarding skills required to perform various organizational jobs. Job analysis is done to get information regarding the requirement of skill, knowledge, experience, ability and other work related requirement. A job analysis is a systematic exploration of the activities within a job. Basically it is a technical process, which is used to define the duties, responsibilities, and accountabilities of a particular job. This analysis involves describing detail description about the task one has to perform during work, exploring the relationship with job to technology and determining knowledge, qualifications or the standards of employment, accountability of the person. There is an accuracy in recording activity is involved. The record consist information regarding following matter: Element: A job element is considered as the smallest element in which job is being divided. Job Continue reading
Aims of Human Resource Development
Human resource development is concerned with enhancing organizational performance through effective development and deployment of organizational members. To enhance performance, a human resource developer has to ensure that the individuals in the organization has the knowledge, expertise and the right attitudes to execute their work. Human resource development aims at ensuring that the organization has the skilled, committed and well-motivated employee it needs to sustain competitive advantage by focusing on processes that develop skills, knowledge and the attitude of the employee such as training, developing, learning, educating and mentoring the employee and also by identifying and improving the skills and motivation of employees. In other to ensure that the organization as the right people to sustain competitive advantage, Human resource development engage in training, learning, development of the individual and mentoring. Training Staffs are important resources to an organization in other to achieve economic and effective performance, in other to Continue reading