Job Satisfaction and Its Consequences - 1577 Words

JOB SATISFACTION AND ITS CONSEQUENCES JOB SATISFACTION AND ABSENTEEISM WHY DOESN’T JOB SATISFACTION HAVE A STRONGER RELATIONSHIP WITH ABSENTEEISM? A person may attend work even when dissatisfied with her job because she cannot afford economically to miss work. A person may be absent from his job when satisfied with his job because of a number of reasons such as personal illness, illness of a child, transportation issues (i.e., car broken down). In such circumstances, he may want to attend (have the behavioral intention of attending) but is unable to attend. MODERATORS OF JOB SATISFACTION-ABSENTEEISM RELATIONSHIP Here are some factors that change the relationship between job dissatisfaction and absenteeism and job†¦show more content†¦High performers are less likely to quit their jobs in response to job dissatisfaction than are low performers. JOB SATISFACTION AND PERFORMANCE WHY DOESN’T JOB SATISFACTION HAVE A STRONGER RELATIONSHIP WITH PERFORMANCE? A person who is dissatisfied with his job may perform his job well because he needs the money from the job and/or wants to make sure he retains his job in an economic downturn. A person who is satisfied with her job may perform it poorly because her manager is weak and doesn’t enforce performance standards and discipline. In this case, this person is a slacker and the less she does or is required to do at work the happier she is. A person who is part of a team is satisfied with her job and wants to do a good job is performing at an average level because her job requires the pre-work of another team member. This team members’ pre-work is often late and of poor quality which causes her job performance to suffer as well. MODERATORS OF JOB SATISFACTION-PERFORMANCE RELATIONSHIP Here are some factors that change the relationship between job satisfaction and performance. 1) Job Complexity. As the job becomes more complex, there is a stronger relationship between job satisfaction and performance. As a job becomes more complex, the individual job holder has more freedom/autonomy in performing her job. This is similar to a weak situation. In a weak situation, a person’s attitude will have more ofShow MoreRelatedThe Influencing Factors and Consequences of Job Satisfaction Essay2627 Words   |  11 PagesIntroduction Job satisfaction has been gaining attention from both researchers and managers, especially due to the contemporary proliferation of the idea recognising the significance of people in terms of achieving competitive advantage and sustainability in organisations. The purpose of the essay is to review factors influencing job satisfaction and consequences attributing to job satisfaction after reviewing some understanding of the meaning of the term and the reasons why job satisfaction is widelyRead MoreJob Satisfaction Among Care Managers1422 Words   |  6 PagesProblem Statement Arches (1991) defined job satisfaction as â€Å"an affective state describing feelings about one’s work.† Job satisfaction among care managers and explanation for their levels must be researched as when job satisfaction levels are low there are high levels of burnout and turnover (Arches, 1991). Studies have been performed that demonstrate that social workers that play the role of care managers often succumb to feelings of burnout. Arches (1991) defined as â€Å"to a cluster of physicalRead MoreFinding The Right Person For A Specific Job751 Words   |  4 PagesFinding the right person for a specific job can be a difficult task and there are many components that management would need to determine before hiring an individual. Even though an individual interviews well and has the qualifications for the job, they may not be a great fit for the job or the organization. If an employee is hired with that criteria, then it could really affect the profitability of the compan y and generate a lot of dissatisfied employees and customers. â€Å"The ability to put the rightRead MoreThere Are Many Factors In An Organisation That May Lead1727 Words   |  7 Pagesbehaviour. Job satisfaction is one aspect of an organisation that can provoke deviant behaviour in a workplace. Job satisfaction is a positive feeling about a job that results from an assessment of the jobs nature. (Robbins, Judge, Millett, Boyle, 2014, p. 67) When a person is satisfied with their job, they tend to be more productive than those who are not. For those who are not satisfied, the deviant behaviour begins to show as well as other negative behaviours. Job satisfaction reflects howRead MoreMotivation1439 Words   |  6 Pagesperforming a particular task. (2) An intrinsic reward is the satisfaction, such as a feeling of accomplishment, that a person receives from performing the particular task itself. As a manager, you want to motivate people to do things that will benefit your organization—join it, stay with it, show up for work at it, perform better for it, and do extra for it. Four major perspectives on motivation are (1) content, (2) process, (3) job design, and (4) reinforcement. 12.2 Content PerspectivesRead MoreJob Satisfaction And Organizational Commitment1502 Words   |  7 PagesEmployees have their attitudes and different kind of ideas and concerns about their jobs, careers and organizations. Research proves that the most employees have attitude is job satisfaction. â€Å"Job satisfaction is the most widely researched job attitude and most extensively researched subjects in organization Psychology (Judge Church, 2000)†. Most of the employees evaluate their work experience and show their satisfaction and dissatisfaction. Similarly, an attitude is refer to opinions, beliefs and givesRead MoreInfluence Of Employee Job Satisfaction Essay1625 Words   |  7 Pagesrelationship of compensation to job satisfaction and determined that compensation is a leading factor of employee job satisfaction and retention, and one of the most studied concepts in organizational behavior literature (Ruiz-Palomino, Saez-Martinez, Martinez-Canas, 2013). However, addi tional data has emerged to indicate that compensation is not the only factor that influences job satisfaction. People spend a significant amount of their life at work and satisfaction with work has become more thanRead MoreEssay on Conflict Management Styles 1166 Words   |  5 Pagesimportant and consistent with humanistic and cooperative work environment sought by contemporary leaders. It is also believed that positive interpersonal relationship at workplace is able to increase subordinates’ satisfaction with leader and subordinates with high levels of satisfaction are more likely to be committed to the organization (Brown and Peterson, 1993). Differences in the perception of conflict possess implication in its own right. This is due to leaders uses of conflictRead MoreEffects Of Burnout On Nursing : The Consequences Of Burnout1028 Words   |  5 PagesConsequences of Burnout in Nursing The consequences of burnout amid nurses are substantial for both caregivers and patients (Schaufeli 2007). A study done by Bogaert et al 2014 showed that higher levels of burnout were associated with unfavorable job outcomes, patient and family grievances, and family verbal abuse. It also showed that nurses who were burnout reported higher frequency of patient falls, nosocomial infections, and medication errors, p.1124. It has been shown that patients cared forRead MoreTurnover at Walgreens1601 Words   |  7 Pagesturnover trend caused by it, this practice continued over time and became increasingly unsustainable, with a rise in job insecurity, and subsequently a reduction in job satisfaction and organizational commitment that come with it. Initiatives from human resource management and the many changes in strategy attempted by senior management were not sufficient to reverse the employee job satisfaction and turnover negative trend. B. Context of the case The subject organization has each of its corporate department

Infrastructure as Service Cloud Concepts †MyAssignmenthelp.com

Question: Discuss about the Infrastructure as Service Cloud Concepts. Answer: Introduction Email is termed to be the amongst the most fundamental technologies in the internet World. It is referred to as the Electronic Mail but it is shortened to E-mail for easy and faster pronouncing. It is a tool that is used like by everyone globally over the internet and through connections over a given network. Email is transmitting and receiving of messages through a network by digital computers and nowadays even in smartphones. The system meant for email may allow a personal computer or a smartphone to send graphical images, texts, and in other cases images and sounds which are animated to other different users[1]. When sending or receiving email one may need a smartphone that internet access or a laptop/computer that is connected through a network with internet. To send and receive an email it is like generally for free and one can send an email from one person to another or even one mail to as many people as possible. The technical overview in this selected topic will explain how an email account is created, customizing it and finish by explaining how to send and receive the mails from different users. An @ symbol is used always in email address eg in Australia the email address finish with .com.au etc. in all cases each and every individual has a unique email address that is completely different for another person. For example, if we consider some like john who works with Technovy in Australia will have an email address john@technovy.com.au. In this case we use the GMAIL to create an account. Gmail is a company that helps one to own a private email address that one can use when communicating with others. The following steps will guide us on how to create an email account[2]. One have to go to www.gmail.com in your web browser which will take login page for Gmail Since we have no account in existence, then we have to click on the create an account button there right top so that we can create a new account. This will take you to the Create account page as shown below. This will ask you to give your personal details such as the first name, last name, username of the email address that you want to use for this particular email address, the password with some constraints sometimes you may be asked to have an upper and lower case letters and numbers in your password, your date of birth, gender, mobile phone for verification and the location in other cases. Once you are done with submitting your personal info and it is verified via the mobile number given then you good to you new account as shown below and can start customizing it. You can logout out of your account and now try login in like a person with an email address in existence. This helps on to login to your email account for the first time and you can read your inbox by clicking the inbox button. You can also compose an Email and send as show below. Background and Related Areas The history of an electronic mail goes before the introduction of internet as it is older than in the internet in the manner that it was developed in early 1960s in combination with ARPANET. Advanced Research Projects Agency Network (ARPANET) acted as the predecessor for internet we use currently which was used by the Defence of US Department. Original electronica mails were only texts, hence they never supported transmission of photos nor videos in other cases it could only allow only texts with one font. In 1980s the known ARPANET was morphed in to what we are currently referring to internet that made email look and seem like we see it currently[3]. In general, some of the areas related with an Email are things like the Internet, Computer or Laptop to be used for sending the messages, also in some cases smartphones, power, network availability. These areas play a very major role in achieving this sending and receiving of emails at the most convenient time. Also the issue of availability and how secured it is an email when compared with other means of sending texts. For an email to reach its destination or its destined recipient it has to follow a certain a network and no wonder it is called an email address, meaning there is a set address that must be followed from the sender to the recipient. This makes easy retrieval of the message in case the message doesnt reach its destination. One can easily ping and trace where the problem arose and if it is the address or the content one can be able to correct the error and try to resend it back. The network application used in Electronic Mails is the SMTP (Simple Mail Transfer Protocol) which is the standard protocol for the transmission of Emails. SMTP uses by default port 25 and it is a port that is non-encrypted. SMTP is a protocol that is used in sending and receiving E-mail. Currently SMTP has been significant that people can transmit and receive information from one person to the other. This has been done as the network application acts as a standard protocol from the user where it has to SMTP server follows the protocol and then forwards it to the recipient only if it connected via the internet. In future the implications that should be put in place the SMTP as that the transferring of a mail from the user via the SMTP server through the mail server and internet is the improvement on security. Security should be strengthened to avoid hacking and disclosing confidential messages between different parties. Ease of communication. This has been achieved through people communicating via texts or images that is done instantly no matter the distance between the two parties.Emails can be easily searched and also archived. Costs. The cost of sending a text is like very small actually its like it is free. Business can keep such costs if the transaction they do require use of emails. Marketing. Email has been used as a tool for marketing. For Example, yahoo has used the platform to puts ads that help in advertising such products in the same platform. This has help in marketing. In another case when one sends an email using the company email the company Email account may be set in a way that the sent email has some attachments on what the company does[4]. Collaboration. This has been achieved through sending of more than person a text or an email. Messages can be sent to a group of individuals at the same time. Ease of Access. Unlike in physical filling where one has to manually search for a file in email one need to know either the date or the source and then search and the results of the searches will be displayed which will help you choose what you are looking for. Disadvantages/Limitations of using Emails The recipient will always need to have an access to an internet so that he or she can receive an email. Through use of emails especially cases where emails are attached with other files can lead to attack by viruses(but in most cases the email providers provides scanners that will help to scanning the sent attachment)[5]. Phising may be practised. This is whereby one sends you an email claiming to have legitimate ownership of the email provider but with bad intentions so that they can know your personal information. There is always no guarantee information that the information will be read by the uswer until he or she logs into his or her account. Spam cases always arise such as the unsolicited email eg junk mail. Using emails inhibits relationship building[6]. Virtualization is the act or the capability of simulating a certain platform such as hardware eg. Server, storage device or the case of a network resource in software[7].Network virtualization is the mean of combining all resources available in a particular network where the bandwidth available is split up in to channels , where each channel become independent from all others available and assigned to a particular server[8].NV is termed as separation ability to abstract and decoupling the topology that is physical from the topology that is virtual that is achieved through use of encapsulated tunnels[9]. When we apply in networking, Virtualization leads to creation of a logical based view of the hardware and software resources for networking such as the routers and witches[10]. Physical network devices facilitates forwarding of packets but when in virtual network comes in that is the software it brings in the scenario of abstraction where it act intelligently by making it easy to deploying and managing services in the network and all resources in the network that are underling [11]. References A. Gaur, Electronic Email, Computer Science, 28 May 2014. M. T. crosby, How E-mail Works, 2017. [Online]. Available: https://computer.howstuffworks.com/e-mail-messaging/email.htm. [Accessed 29 september 2017]. Telstra, Introduction to Email, TO EMAIL. Part 1. BEGINNERS GUIDE. TECH SAVVY SENIORS. The NSW 'Tech Savvy, 23 May 2017. A. C. Koose, Advantages and Benefits of Email for a Business, 2017. [Online]. Available: https://smallbusiness.chron.com/advantages-benefits-email-business-846.html. [Accessed 29 september 2017]. BBC, Advantages and disadvantages of using email, 2014. [Online]. Available: https://www.bbc.co.uk/schools/gcsebitesize/ict/datacomm/1emailrev3..shtml. [Accessed 29 september 2017]. disabilitycouncil, Six Disadvantages of Using Email, 2016. [Online]. Available: https://blog.disabilitycanhappen.org/six-disadvantages-using-email/. [Accessed 29 september 2017]. Alex.Amies, Infrastructure as a Service Cloud Concepts, 2017. [Online]. Available: https://www.informit.com/articles/article.aspx?p=1927741seqNum=9. M. Rouse, This definition is part of our Essential Guide: SDN basics for service providers, 2017. [Online]. Available: https://searchservervirtualization.techtarget.com/definition/network-virtualization. [Accessed 4 october 2017]. a. networks, arista, 2017. [Online]. Available: https://www.arista.com/en/solutions/network-virtualization. [Accessed 4 october 2017]. Telliso, Application Delivery Controllers, 2016. [Online]. Available: https://www.provision.ro/network-application-management/application-deliverys-controllers#pagei-1|pagep-1|. SDX, What Is Virtual Networking? How It Works, 2017. [Online]. Available: https://www.sdxcentral.com/sdn/networks-virtualization/definitions/what-is-virtual-networking-how-it-works/. [Accessed 29 september 2017].

Poets Poet Essay Example

Poets Poet Essay Spenser..has always been felt by his countrymen to be what Charles Lamb called him, the `Poets Poet. He has had more idolatry and imitation from his brethren than all the rest put together. (Hunt, L, 1845:75). Sharing Hunts view, we certainly believe his assertion is beyond dispute. Born in London in 1552, Edmund Spenser is considered one of the most outstanding Elizabethan poets. He benefitted from the patronage of Robert Nowell since 1569, he started his education in Merchant Taylor School, where he attained a Bachelors degree in 1572. After four years, he achieved the Masters degree at Pembroke Hall, Cambridge (Jokinen, A., 2006:1). With the satisfaction of having lived a long politically and literarily productive life, Spenser died in January, 13th, 1599, in London, being buried at Westminister Abbey (Encyclopaedia Britannica, 1994:1,4) SPENSERS LIFETIME We will write a custom essay sample on Poets Poet specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Poets Poet specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Poets Poet specifically for you FOR ONLY $16.38 $13.9/page Hire Writer His connections with Politics and its influence In 1580, Spenser was named secretary to Lord Arthur Grey of Wilton, the lord-deputy of Ireland. He was asked to help in the brutal and blood-spattered English settlements in Ireland, where he spent the next two years (Zurcher, A., 2008:2). Such was Spensers admiration for Lord Grey, that Arthegal the personification of justice in the Faerie Queene is his evident embodiment. Spenser wholeheartedly approved of Greys cruel political measures in Ireland, as the aim justifies the means. The poet considered them essential for the continuance of English control and the Protestant religion. The Lords repulsive methods promoted a discord with the queens distinctive retarding manner, which resulted in Greys recall in 1582. From that moment, Spenser stepped down from his appointment, yet remained in the public service. Due to Spensers experiences in Ireland, he wrote in 1596 A view of the Present State of Ireland (published posthumously in 1633), in which the Irish plight is described and possible solutions are put forward (Jokinen, A., 2006:2,3). Spensers relationship with Elizabeth I It is an undoubted fact that Edmund Spenser felt an extreme fascination for Englands ruler of those times: Queen Elizabeth I. It was due to Spensers veneration that his extremely important masterpiece The Faerie Queene was written and therefore dedicated to Elizabeth I. It was considered the most tremendous compliment ever offered to any woman in a poem. In view of Elizabeths brilliant policies about government and religion, Spenser dared to compare her with the Virgin Mary, contrasting both queens: of Heaven and of Earth; and evoking Elizabeths power, humility and glorious government. (Sinclair, 1999:2). Spensers literature Early works By the 1580s, the young artist had already written hundreds of poems although he did not publish them. His first masterpiece was called The Shepherds Calendar (1579), which importance relied on the usage of a variety of poetic forms in order to enrich the vocabulary of English poetry (Anonymous, 2006: 1). Model Writers Edmund Spensers philosophical style of writing is a blend of ancient and contemporary poets and philosophers. He combines Platonism using the ideas of love on human and divine levels with the moral reflection of life of Aristotelianism. (Anonymous, 2006:2). The period the poet spent at the University of Cambridge was highly beneficial, as it provided him the basis for his writing and his personal style. After being influenced by Virgil, Ludovico Ariosto and Torquato Tasso, Spenser started his masterpiece The Faerie Queene; and being in contact with the Italian and the French pastoral poetry led him to produce The Shepherds Calendar. The influence of Petrarch was of the utmost importance for writing Epithalamion and Amoretti (Encyclopaedia Britannica, 1994:2). Notwithstanding, the most influential people in Spensers literature were the Areopagus, a literary and intellectual group of gentlemen including Sir Philip Sidney, Sir Edward Dyer, Daniel Rogers, and Thomas Drant, who would gather in order to discuss law, philosophy and poetry (Zurcher, 2008:2). Spenser and other Elizabethan poets. Due to his peculiar writing style, which was based on the usage of archaic diction, Spenser is considered an equal among William Shakespeare, Sir Philip Sidney and John Milton.

Critical success factors of PM Essay Example

Critical success factors of PM Essay Example Critical success factors of PM Essay Critical success factors of PM Essay The articles focus Is limited to the European Funded projects in Bulgaria and he Authors believe that identifying the critical success factors of project management, significantly helps managers to gear the project focus In order to achieve the projects main goal within budget, resource and time. The article suggests selected core factors identified through empirical study of project success factors conducted by a sample survey of managers and experts from relevant organizations of projects supported by European programs. According to Mantilla and Allan, the previous researches on Identifying project success factors are traditional. This is because the researches narrowly focus on the effectiveness of project management tools used by project managers. Though proper utilization of these tools could contribute for the achievement of project goal, there are a wide range of project success factors that can potentially Influence the project success. Mantilla and Allan(2012). Mantilla and Allan postulate that the success of a project depends on the fulfillment of some factors which they call critical. They insist on the existence of major factors that are prerequisite for a project to attain Its goal. The concepts In the hypothesis sound clear as there are some widely accepted Independent factors that significantly influence (which can later be supported with academic findings in the area) the achievement of a projects intention. The authors didnt discuss how the absences of the given potential factors make a project fall. The hypothesis in this article Is also empirical. It Is supported by practical evidences that are found from 132 project managers and project team members. Regarding this point there are some limitations on the types of respondents which I raise later in the evaluation section. The hypothesis is limited both in geography and the type of project it deals with. The article focuses on projects funded by Operational Programs of the European Commission in Bulgaria. When it comes to the literature, Mantilla and liana have established a literature on identifying critical success factors of project management. The authors explain the absence of unified treatment and definition of the concept In the field though there Is a general agreement on the significance of sarong out critical success factors In the practice of project management. Mantilla and Allan (2012) provide pretty consolidated detail evidences on what is more important in project management. Its all about whether project stakeholders are testified by Its results. This is a widely accepted principle but the problem on this regard Is, the authors didnt specify the types of project as there are different types of projects with various range of goals. For instance, in general terms, the intentions of commercial projects and a relief project are not similar. The same is true to their scholars like, Dry. Rash and Dry. Mimed (2014) It is impossible to generate universal checklist for project success criteria suitable for all projects. Success criteria differ from project to project depending on various numbers of issues like size, uniqueness ND complexity In addition to this, client satisfaction is very hard to measure Paul and Derek (2008) different stakeholders sense and measure success in different ways with in a single project. Success is different for different stakeholders in a certain project. This is usually based on their contribution and expectation. Other literature supports are also discussed on the subject in relation to the existence of two major groups of project success factors which are stated as strategic and tactical. The strategic group includes project mission, top management support and project scheduling. The tactical aspect includes client consulting, human resource selection and personnel training. These factors affect project success at different stages of the project life cycle. To identify the critical success factors of project management, the authors conducted a survey where 132 project managers and members of projects have participated. They were selected as representatives of projects funded by CUE (European Commission). The sample of projects has been selected by a method of purposive sampling. The respondents have filled a questioner designed for the purpose of the study. The questioner was divided in to three main segments, questioner for project success measurement, for project execution and for the importance of critical success factors. The main focus of the article was the findings under the critical success factors. The respondents were given 15 potential factors and they were asked to identify the most critical Success factors based on their level of importance. The listed potential success factors were Competence of the manger, Support from the agency administering POP, Clarity of project goal, Top management support, Competence of project team members, Motivation of Project team members, effective communication between project stake older, quality of subcontractor service, precision in documenting and achieving of project information effective coordination of project activities, compliance with the rules and procedures established by the POP, Systematic control over the project execution, access to organizational resources, SMART planning, Competence and adequate support from a project consultant According to the authors the above lists were prepared based on literature review. Mantilla and Allan (2012). The final results of this study show the following five factors as the most critical success determinants: 1st Competence of project manager; Over 80% respondents indicated this factor as extremely important. 2nd Compliance with the rules and procedures; almost 80% of the respondents have evaluated this factor as extremely important. 3rd Competence of project team 66. 7% of the respondents have identified this as extremely important. In addition it this was identified as highly important by 30 % of the participants. 4th Quality of services provided by subcontractors 66. % of the representatives indicated this as extremely important 5th Support of the top management ; 64% of the respondents identified this as extremely important. When it comes to the appropriateness of the research technique and obtained result, the study relied on single respondent, project managers and experts. The number of the respondents may be representative, but they are all from one side of the project represents. Instead all duty bearers that contribute for a project success should have been included. For instance we cant see stakeholders views, end users (client) participation, and not even implementers Judgment. How can we measure a project success without observing and analyzing its impact on the end users? The other significant point is we have no idea whether the project managers are successful or not in the projects they have executed so far but they are still making decision on critical factors that make a project successful. Here the point is if in case they have failed to attain the intended goal of the project, how do we trust their Judgment alone on what makes a project successful? When it comes to the list of the given potential factors, they seem limited. Mantilla and Allan, present the above list of success factors to be made based on literature review; but they fail to provide list of adequate sources for that There are also some other factors that should have been considered such as donors interest and project environment (political and social). Timothy, Debbie and Chris (2014) highlight the existence of organized and fundamental success factors donors consider at each stage of the project phase. Sponsors are demanding in all stages. This sponsors behavior factors affect the project positively or negatively at planning, implementing, monitoring and closing stage with various degrees depending on sponsors interest. In their study on the advantages of best practices in project management, Livid. L, MME. C and loan. N 2010) emphasizes adopting best practices as a main factor that leads to successful project management. Through identifying and best practices, we develop international approach of labor, better process quality and better monitoring and controlling etc. Mantilla and Allan proved the above five factors to be very critical for a project to be successful, but there is no prove on how the absence of these factors can result in project failure. For instance according to Dry. Rash and Dry. Emends(2014) ,the failure of a management may not always bring about failure to a project and good project management does not always guarantee complete project success. It is possible to achieve a successful project even when management has failed and vice versa. In this review I have discussed Mantillas and Laminas article on Critical success factors of a project. The article covers several points on the existing approaches to project success.

Compare and contrast the political views and public policies of Essay

Compare and contrast the political views and public policies of Alexander Hamilton and Thomas Jefferson - Essay Example By the time certain economic decisions and policies were deliberated upon, taking foreign affairs to account, these revolutionary U.S. leaders further acquired opposing perspectives on addressing how the national debt should be managed. According to Hamilton, national debt ought to be kept permanent for the sake of a healthy economy for the nation and that such debt must be paid off by the government to the party in current possession of the certificate at the time. On the other hand, Jefferson contradicted the permanence to national debt and asserted that it should be the original bearer of the certificate who must get paid off, knowing that this would be advantageous to the common citizens. However, the following enactment approved the proposition made by Hamilton instead and the affluent became even wealthier, having purchased the certificate from their common counterparts.

Information based decision making Assignment Example | Topics and Well Written Essays - 2500 words

Information based decision making - Assignment Example Again, to retain the competitive position in the market, companies have to analyse the strategy used by its competitors and thus respective changes should be made in ones business strategy. With growing inter-relation in all these factors, the decision making process is getting complex day by day. In the contemporary business environment, the management is hardly left with time to conduct an in-depth analysis while making a decision. Therefore, the management prefer to use an information based decision making model. These models make the process of decision making more systematic and transparent. One may argue that such information based methods of decision making requires a lot of managerial time and effort. However, in the era of information technology one can easily extract required data from the central database and using the computer, complex calculations can be done within fraction of minutes. On the contrary, management can also determine beforehand all the possible negative c onsequences if the decision taken proves at any point of time. In the below give section, information based decision making concept as well as some of the commonly used models will be discussed in-depth. Nature of data and information The success of an information based decision making process highly depends on the quality as well as on the authenticity of the data used. Therefore, while developing the decision based information model, attention should be devoted towards nature of data and information to be used. Generally, while deciding about the nature, one should understand the core reason for which the data will be used. It means the nature of data should be finalised after considering the final use of the result derived from it. For example, if a company is developing an information based decision making process for its new project, then it will prefer to collected financial information to check the cost incurred in the production process. Again, quantitative as well as qualit ative data regarding the operational activities will be collected and used to analyse progress of the project. There are certain other factors that need to be ascertained while finalising the nature of data. The team that developers the decision making model should be conscious about authenticity and reliability of the data. A small little alteration in the data can disturb whole of the decision making process. For example, if the data regarding number of units sold in a particular region gets distorted (either willingly or unwillingly), it will effect whole of the marketing decision making model. Considering the wrong data about the sales figure, the marketing manager will provide a misguiding sales forecast for the next month. On the basis of this wrong forecast, the production department will set its schedule and it will pass this information to the purchase department to supply the required material. As a result the schedule of the purchase department will also get disturbed. In general, whole of the monthly schedule of the organisation will get disturbed and

Macro-economic factors Essay Example for Free

Macro-economic factors Essay There are a lot of macro environmental factors that affect Telfin performance though emphasize has been given on the important factors. Economic factors like current and anticipated economic growth, interest rate, inflation, cost of labor, disposable income and distribution of income etc collectively comprise economic environment. Current and projected economic conditions: In recent years Pakistan’s economic figures were indicating very impressive and promising consequences and infact these all were proven to be wrong. A number of reasons are behind this but the most important are the economic policies which were not integrated with political environment in an apt manner. Secondly, terrorism has stooped down our economy in a very negative manner. Therefore because of these reasons Pakistan current and anticipated economic conditions aren’t in Telfin favor. Exchange Rate: Telfin is directly affected by fluctuation of exchange rates as investment is being done in USD, all suppliers have to be paid in USD and being subsidiary of Vimplecom, Shareholder calculations are in USD while revenue is generated in local currency (PKR). Due to depreciated PKR every year when revenue is calculated in USD it is minimized due to negative exchange rate effect. Fuel Prices: Telfin is the one of the biggest customer of PSO (Pakistan State Oil), due to energy crisis in Pakistan and being the largest on coverage for the services, more than 5000 cell sites have to be energized to keep the network running. Taxtation: Govt has applied additional 5% tax on the top up so subscribers get 5% less balance on recharge but as an impact it has been seen that subscribers have reduced the usage as recharge revenue has decreased and 5% reduction is from Telfin revenue. Inflation and interest rate: interest rate and inflation both are elevated in Pakistan. In most of countries it is very much natural that once economic conditions are bad central banks reduces interest rate in order to boost investment where as in Pakistan the case is otherwise. The interest rate is high because the government wants to cease central bank new notes issuing rate which is more than 15% currently. Therefore collectively interest rate and inflation are presenting a bad picture for Telfin. Unemployment rate and cost of labor: Because of higher education bang there  is a talented pool of candidates who are ready to be employed in big companies or organizations. But the fact is that the production of new jobs is not competent with supply pool therefore unemployment rate is high. In addition as supply of potential workers is high, the cost of labor is low in Pakistan which is a positive signal for Telfin. Level of disposable money and income distribution: It is really evident that if the economic conditions of a particular country are bad, the people living in, do not have high level income to be spent. Moreover the fact is that national income distribution is very unfair and unequal in Pakistan because elite class dominates on key government posts. Non-economic macro Exposure: Telfin like every other organization is also affected by the political setup to a greater extent which are needed to be addressed. Political Factor: There is a democratic government now-a-days in Pakistan but due to previous government policies present government inability to manage issue wisely, it can be concluded clearly that government is not able to stabilize the situation as it was expected which is surely not good for the companies like Telfin. Rule of Law, Corruption and bureaucracy: Due to the amendments made in the constitution of Pakistan by ex-dictators and domination of rich people on the vital government posts, there is just a minimal justice and rule of law in Pakistan. Regularity authorities: There are regularity bodies in Pakistan like PTA (Pakistan Telecommunication Authority) but it does not have enough grip on issues as it is expected from it due to the mandate given to it. Security: Due to security situations, telecom industry has suffered a lot as on events the re is complete network shutdown to prevent terrorism. These shut down is a direct loss for complete industry. Moreover due to different measures taken by regularity to address security is to have Biometric scanning before issuance of SIM so cost of sale has increased recently and all operators have to install machines to have scanning capability.