Personality tests can have huge benefits for both organisations and the individuals. It can help management with employee selection and employee development and they can help individuals to identify areas of themselves which need improving. The practical nature of these tests can help to weed out unsuitable candidates quickly and easily and it is also a form of selection which can stand up in court. The Hogan Personality Inventory (HPI) itself is a well known and trusted brand of test, due to the model which it is based on and the amount of working adults it is normed on. The Hogan Personality Inventory is a personality test which is a measure of normal personality and is used to predict job performance. This tool has many uses and is used by both organisations and individuals. The HPI was specifically designed to aid business and commercial use and can be used throughout Continue reading
Modern HRM
The Role of HRM in Developing Organizational Strategy
Human Resource Management (HRM) business strategy emphasizes the importance of individual relationships against collective relations between managers or managers and workers. Human Resource Management (HRM) refers to an activity that depends less on hierarchies, orders and mandates, and stresses the importance of active participation of all employees of the company. The aim is to foster a cooperative relationship between management and workers to prevent frequent clashes resulting from a traditional hierarchical relationship. When HRM is working properly, employees are committed to long-term goals of the organization, allowing it to adapt better to changes in markets. Human Resource Management (HRM) involves taking a range of measures which include: the commitment of employees with corporate objectives, the payment of wages according to productivity of each employee, fair treatment to them, continuing vocational training and link procurement policy to other aspects of organizing work and production, marketing and sales. Some companies carry out Continue reading
The Cultural Context of Business Negotiations
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
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
Entrepreneurial Motivation Factors
Entrepreneurship is the process of adding something new [creativity] and something different [innovation] for the purpose of creating wealth for the individual and adding value to society. An entrepreneur has to be creative and innovative in order to have a sustainable growing business. In fact, entrepreneurs are considered as one of the main contributors to country economy growth. Entrepreneurial activity benefit community and society as it creates job opportunity, income, products and services with his creativity and innovation to us. Important Factors of Entrepreneurial Motivation Motivation is one of the elements in influencing the process of entrepreneurship. The general entrepreneurial motivation factors, including need for achievement, locus of control, vision, desire for independence, passion, and drive. Need for Achievement: Individuals who have higher level in need for achievement are will have higher desire to involve in activities or tasks that have a high degree of individual responsibility for outcomes. Entrepreneurial Continue reading
Team Based Pay System Design
There are many considerations in the designing of a team-based compensation system. After the alignment of pay with strategy, culture, and competencies of the employee, then the next step is to determine the type or types of team in a particular organization. There are four types of teams: The first is the parallel team that is defined as a part-time team that can be temporary or permanent that employees participate on in addition to their normal activities. The second type of team is a process team that carries out the work processes and is done collectively by members of a team. A project, or time-based team, is the third type of team and is the opposite of a parallel team in that members work full-time for the duration and until completion of a project. A fourth type is a hybrid organization that includes a mixture of the teams described above. Continue reading