Performance Management at Bolts Convenience Stores Essay Example for Free

Performance Management at Bolts Convenience Stores Essay Subject area – The case throws light on performance management in general and performance appraisal in a specific Indian context, its linkages with various other HR systems in an organization and the various issues and challenges attached with it. The case is especially suited for understanding people management in small organizations and organizations in emerging markets. Study level/applicability – This case has been tried and tested in the classroom setting with management students pursuing a post graduate diploma in business management (PGDBM). The case has been administered to students in Chennai Business School, Chennai in their core course human resource management (first year PGDBM) and to second year students specializing in HR in their course â€Å"Performance management and compensation management† in G D Goenka World Institute, Sohna. Case overview – The case is set in the southern part of India in a retailing organization which grew from a small retail store catering to the daily needs of the student community to a four store retail store (Bolts). Mr Andrew (Head, HR), introduced performance management and appraisal at Bolts. Since the appraisal was interrelated with various other HR systems like motivation, compensation, training and development and promotions, it generated a lot of excitement among the employees. After implementation of performance appraisal, the organization seems to experience one problem after another. There were complaints from customers, followed by a range of challenges such as discontented employees, unprofessional behavior, low motivation in the organization and loss of profit. Expected learning outcomes – Understand and analyze the performance management in general and performance appraisal in a specific Indian context, its linkages with various other HR systems in organization and the various issues and challenges attached with it. Understand people management in small organizations and organizations in emerging markets. Assess and identify HR practitioners problems in studying SMEs HR related problems in an Indian context.

C.s. Lewis: The Abolition Of M Essay -- essays research papers

C.S. The Abolition of Man   Ã‚  Ã‚  Ã‚  Ã‚  While reading The Abolition of Man by C.S. Lewis, I encountered a few questions concerning his view on Ethical Innovation and the dilemma conditioners face. It was a difficult book with many ideas that didn’t come completely clear to me at times.   Ã‚  Ã‚  Ã‚  Ã‚  I agree with Lewis theory that ethical innovation is impossible. Everything we base ourselves on according to rational thought, morals, ethics, what is right and wrong, has been passed down to us in every kind of information from oratory to internet. We have not come up with a new creative idea of how to act in ethics. You don’t read in a screaming headline,’ NEW WAY TO BE ETHICAL. We have just acquired the way to act through the way mankind has evolved. Maybe if we live around the beginning then we might be able to be innovative but human nature contains all types of reasoning in which the way we act. We all are different in many ways but we all know the ways we could be also. We observe others and know what kind of character, personality, values and some of them we copy from them. We are not being innovative but adaptive of thought. We look at others and sometimes act accordingly to their nature. We all have a personalized nature but we tend to ident ify and be changeable to other ways besides your own. I can relate to Lewis’ idea of science and magic to what ethical innovators are really doing. Magic is ...

7c’s of Written Communication

7 C’s off effective communication (with respect to written communication): Written communication  occupies an important position in the communication sphere, so written communication has to pay adequate attention on certain principles of necessity. The essentials of every written communication are principles of unity, coherence and emphasis. These principles along with other essentials of effective communication, like language, planning and organization make the written communication effective. Clarity:  The writing should be correctly planned and expressed in a logical way,and the writer should make sure that the ideas flow smoothly from beginning to end. The message must be so clear that even the dullest man in the world should readily understand it. The communicator must be very clear about all the aspects of the idea in his mind and about the purpose for which it is to be communicated. Next to it, he must be clear about the selection, suitability and usage of the mediu m. The signals of the encoded message must be carefully composed of and transmitted well.Clarity of written language is the first and foremost emphasis one should seek in writing. So clarity of language is a form of courtesy. Clarity, therefore, can be achieved in writing by taking pains by writing to serve the purpose rather than to impress readers. Understanding the subject bring about clarity in the writing. Don’t jump about from one part of the writing to another and then back to the first aspect. This is confusing for you and the reader. Deal with each aspect separately and clearly.Clear description brings about the script alive, takes readers to where you have been and evokes atmosphere. It can bring flavor in the most arid and dry news story and make the difference between a report that satisfies and one that does not. * Completeness:  It is an essential factor for effective communication. A message must be organized appropriately in the sense that it must include al l the important ideals and its details. The contents of the message must be checked in order to verify that there is no omission of the relevant details.An incomplete message can do little to convey the information and to persuade the receiver. All the aspects of the message must be grouped and brought together in logical sequence to prepare meaningful thought units. The communicator effort can be more fruitful and effective if the receiver easily reacts to the sender’s message. The incomplete messages may create doubts in the receiver’s mind. The receiver of the incomplete message feels angry, confused and irritated by it. Effective writing communication implies a condition of being complete and clear.The principles of unity or completeness apply at three levels; one, the individual sentences must be unified. Two, individual paragraphs must be unified and three the totality of the script must be unified. The first principle states that each simple sentence must contai n a single idea clearly expressed. All sentences relating to a particular matter constitute a unified individual paragraph. Each paragraph in a section forms a unit of thought. All units of thoughts structurally constitute the message of entire communication or a unified message.Each unified individual sentence conveys only one central idea. It must be direct, simple, brief, clear and vigorous. Too much use of buts, ands, pomposity and technical jargon must be avoided. Prompt and adequate attention of the reader is the essence of purposeful communication. Completeness in writing is achieved through orderly arrangement of ideas flowing into other ideas and progressing into conclusion. An incomplete writing leads to side tracking, misunderstanding, seeking clarifications and explanation etc. thus, the writer must consider the receiver’s capabilities to understand. Coherence:  Coherency is equally essential for good written communication. Clear communication in simple sentence s helps the reader to understand. Facts and figures must be stated plainly and in an intelligent manner. Relation and clarity are the two important aspects of coherence. Coherence means, tying together of several ideas, under one main topic in any paragraph. Smooth flow, lucidity and transition aspects should be given effect to and there should not be any scope for the reader to misinterpret, mis-read or mis- spell the message.Coherence is given to a larger paragraph or section of a message and leads to purposeful communication where the writer is well received, read, understood and acted upon by the reader. * Conciseness:  Conciseness is an important factor in effective communication. It means saying all that needs to be said and no more. The aimless verbiage, unnecessary details and heavy paragraphs make our communication ridiculous and ineffective. We must omit those words and sentences from our message, which are not likely to bring about results.The message, which can be expr essed in fewer words, is more impressive and effective than the same message expressed in a number of words. The communicator must organize his message in such a way that every word in it is meaningful and of interest to the receiver. Even a single word or a sentence, which does not contribute to accomplish the purpose of the communication, should be carefully omitted. Conciseness refers to thoughts expressed in the fewest words consistent with writing. It is achieved in writing in definite style and use of precise words.Unnecessary superlatives, exaggeration and indirect beginning should be avoided. Care should be taken to use adjectives judiciously, avoiding irrelevant details, unnecessary expression and mumbling sentences. Avoid vague judgmental descriptions and be precise and clear. * Credibility:  A good writing is always forceful and direct and has the power and capacity to produce a reaction or desired effect. Clarity in writing brings about credibility because it ensures t hat others understand the message easily and quickly. A clear and direct approach in writing makes it possible to achieve the principle of credibility in your writing.Other essentials of writing like correctness and completeness add to the strength of credibility in the writing. * Correctness:  Without correctness, readers may refuse your write up. Communication must be correct in tone and style of expression, spelling, grammar, format, contents, statistical information; stress-unstressed, etc. there should not be any inaccurate statements in the message. Efforts must be made to avoid errors in spellings, punctuations, etc. the incorrect written documents lower the readers’ confidence in the writer.In the same way, the incorrect statements and other miscellaneous errors of the speaker lower the listeners’ confidence in him and it may tarnish his image and reliability too. When communication receiver finds one error he suspects that there can also be other errors in t he message. Therefore, he starts searching for other mistakes automatically. The subject matter of communication must be correct or accurate. The manner in which the message is transmitted must be absolutely correct. Accuracy in writing can be achieved by careful checking and editing.Correctness demands accurate figures, because decisions may go wrong if wrong figures are given. Over writings, erasures, strikeovers, wrong spellings, faulty grammar, poor sentence construction etc may distract the readers and lead to misunderstanding. Written communication clearly means making others to understand. Therefore, it is essential that the sender should verify the correctness of the information before transmitting it to the receiver. And before accepting the information for important decision-making, the receiver should clarify his doubts regarding the accuracy and correctness of the message.Continuity:  As far as possible the writer should avoid jargon. Jargon is a language that is speci al to science, commerce, technology, trade and profession. In writing, the jargon should not be incorporated as this could make the writing confusing and unclear. Brevity or use of fewer words brings about continuity and grace in your writing. The effect of good writing depends on its style and continuity of subject till the conclusion. If one takes care to be precise, correct and clear in writing and if the continuity is maintained throughout writing, the desired effect from the reader is achieved.

Study On Mr Madoff And Ponzi Schemes Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1411 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? On March 12, 2009, Mr. Madoff pleaded guilty to all 11 felony counts charged against him, which includes securities fraud, money laundering and perjury. On June 29, he was sentenced by a federal judge to the maximum prison term of 150 years without bail or parole. He began serving his sentence four months later in October. The criminal case is U.S. v. Madoff, 08-cr-00213, U.S. District Court for the Southern District of New York. From the 1980s through December 11, 2008, Madoff ran a massive Ponzi scheme to solicit billions of dollars of funds. On December 1, 2008, BLMIS delivered statements to 4,800 account holders showing they had total balances of almost $65 billion. The firm held a small fraction of that balance. Madoff took money from everywhere including, individuals, charities, trusts and pension funds. He didnt invest the funds as promised used them for his own gain. He falsely promised to gain high return rates, which was as much as 46%. Madoff crea ted a broad infrastructure at BLMIS to give the impression he ran a legitimate investment advisory business in which client funds were actively traded as he had promised (Voreacos, 2009). He had many back office employees who werent technically qualified for the job. He told workers to generate false client account statements that reflected false returns and supposedly showed the firm bought and sold securities. Madoff allowed the transfer of $250 million from clients investment funds to his market making and proprietary trading businesses. Those transfers gave the false appearance that he was doing business in Europe on behalf of investors. Madoff lied over and over to the Securities and Exchange Commission (SEC) in writing and sworn testimonies. He caused the creation of false financial statements about the business. As mentioned, he was charged on 11 counts. Here is a summary of each count: Count 1, Securities Fraud: Bernard L. Madoff Investment Securities Inc. (BLMIS) w as a broker-dealer with three types of business: market making; proprietary trading; and investment advisory services. Madoff Securities International Ltd. (MSIL) was a U.K. affiliate engaged in proprietary trading. Count 2, Investment Adviser Fraud: From at least the 1980s through December 11, 2008, Madoff acted as an investment adviser for clients of BLMIS and employed devices and schemes to defraud clients and prospective clients. Count 3, Mail Fraud: On December 1, 2008, Madoff caused to be sent via the U.S. Postal Service a false and fraudulent account statement from BLMIS to a client in New York. Count 4, Wire Fraud: On Aug. 5, 2008, as a part of a scheme to defraud, Madoff caused $2 million in investor funds to be wired from Bloomington, Minnesota, to New York. Count 5, International Money Laundering to Promote Specified Unlawful Activity: From 2002 to December 2008, Madoff caused the transfer of funds from the BLMIS investor account in New York to MSIL accounts i n London, and from those accounts to BLMIS accounts in New York. The money was derived from fraud in the sale of securities and theft from an employee benefit plan. Count 6, International Money Laundering to Promote Specified Unlawful Activity: From 2006 to December 2008, Madoff caused the transfer of funds from BLMIS investor accounts in New York to MSIL accounts in London, then back to New York to give the false appearance that he was operating a legitimate investment advisory business. From 2002 to December 2008, he caused funds to be transferred from BLMIS accounts in New York to MSIL accounts in London, and from there to purchase and maintain property and services for the personal use and benefit of Madoff, his family members and associates (Voreacos, 2009). The money was derived from fraud in the sale of securities and theft from an employee benefit plan. Count 7, Money Laundering: On April 13, 2007, Madoff caused $54.5 million to be transferred from a BLMIS investor acc ount in New York to a BLMIS account in London. The money was derived from fraud in the sale of securities and theft from an employee benefit plan. Count 8, False Statements: On Jan. 7, 2008, Madoff caused the filing with the SEC of a Uniform Application for Investment Adviser Registration. The form falsely stated that BLMIS had custody of advisory clients securities. Count 9, Perjury: On May 19, 2006, Madoff made numerous false and misleading statements under oath to the SEC. He falsely testified that his firm executed stock and options trades on behalf of investment advisory clients; had custody of assets managed on behalf of those clients; and used the same trading strategy for all its investment advisory clients. Count 10, False Filing With the SEC: On December 20, 2007, Madoff caused the filing of a false and misleading certified BLMIS audit report. Count 11, Theft From an Employee Benefit Plan: On September 24, 2008, Madoff stole $10 million in pension fund assets s ent to BLMIS by a master trust on behalf of about 35 labor union pension plans. In May 2010, nearly 700,000 Madoff investors outside the United States settled agreements, receiving about $15 billion. The total shown on Madoffs investor account statements right before the collapse in 2008 was nearly $65 billion. Irving H. Picard, the court-appointed trustee representing Mr. Madoffs victims in the United States, has collected to date about $10 billion through settlements and asset sales. Mr. Picard estimated the total cash losses in the fraud at $20 billion (Washington, 2011). In December 2010, Mr. Picard launched several lawsuits, including one that was after $1.6 billion in damages from Sonja Kohn, a banker in Australia. He accused her of heading a 23-year conspiracy that played a central role in financing the Ponzi scheme. After the deadline, it appeared that at least 1,000 individual civil lawsuits would arise. Although many likely to be settled by negotiations, the rest wil l probably be contested. In February 2011,ÂÂ  bank documents released as part of Mr. Picards lawsuit prove that bank executives expressed many red flags about the legitimacy of Madoffs investment business more than 18 months before his Ponzi scheme came to light, but continued to do business with him. Another lawsuit, in federal bankruptcy court on February 4, involves the owners of the New York Mets. Mr. Picard accuses them of being so wrapped up in the enormous profits they earned while investing over decades with Mr. Madoff that they ignored the red flags that might have warned them that he was operating a fraud. Its also being rumored that now the Mets may be up for new ownership. In his first interview since his arrest in December 2008, Mr. Madoff asserted in February that unidentified banks and hedge funds were somehow complicit in his elaborate fraud, an about-face from earlier claims that he was the only person involved (Washington, 2011). His family being involve d in suspicion in involved, he went on to mention that his family members knew nothing about his crimes. With his ill practices, his family has also faced numerous lawsuits, potential to lose most of their assets. Madoff also spoke about dealing with several banks pointing to their willful blindness and went on to say, They had to know, but the attitude was sort of, If youre doing something wrong, we dont want to know. While he admitting his guilt in the interview and said nothing could excuse his crimes, he focused his comments on the big investors and giant institutions he dealt with, not on the financial pain he caused thousands of his more modest investors. He did not assert that any specific bank or fund knew about or was an accomplice in his Ponzi scheme. After deceiving federal regulators and investors for at least 16 years, he would certainly be branded as a liar by defense lawyers if he appeared as a witness against any defendant in a courtroom (Washington, 2011). Mr. Ma doff said he was determined to help the efforts to recover lost assets. He also said that Mr. Picard was seeking far more money than was needed to resolve investor claims. In addition to the customer claims for the cash losses, the Madoff estate also faces claims by unpaid vendors and landlords, who cannot recover until all the valid customer claims are paid. In prison, Madoffs access to the outside world is limited and monitored. All visitors must be approved by prison authorities, who also screen his collect calls and his incoming and outgoing e-mails and letters, though interviews with lawyers like Mr. Picard and his colleagues are less restricted and can be conducted in private (Washington, 2011). U.S. v. Madoff, 08-cr-00213, U.S. District Court for the Southern District of New York (Manhattan). https://www.bloomberg.com/apps/news?pid=newsarchivesid=a6Osnj.SoYdMrefer=home https://topics.nytimes.com/top/reference/timestopics/people/m/bernard_l_madoff/index.html htt ps://www.npr.org/templates/story/story.php?storyId=106039332 Don’t waste time! Our writers will create an original "Study On Mr Madoff And Ponzi Schemes Finance Essay" essay for you Create order