Capstone on United Bankshares, Inc Research Paper

Capstone on United Bankshares, Inc - Research Paper Example The vision is to provide loans and other financial support instruments to organizations and businesses that are very productive from their banking subsidiaries. Stakeholders are those who affect and are affected by the operations of a business (Freeman, 2009: p3). The main stakeholders of Bankshares Inc are their staff members who are knowledgeable business professional with in-depth knowledge of the markets and financial trends. The second group of stakeholders are the subsidiary banks that provide the financing when the bank gets good and accurate forecasts. A third group of primary stakeholders are the businesses that acquire loans from UBSI. Porters Five Forces describes a given industry or competitive terrain for an organization (Henry, 2010). In doing this, there are five distinct forces that define the competitive position and scope of the industry. They include: 2. Threat of Suppliers: This is a major threat because the suppliers of loans and other banking services of USBI could build in-house business advisory and investment banking units and not need USBIs services. 4. Ease of Entry: It is fairly easy for anyone to start a financial advisory and brokerage firm. However, it is not very easy to build the kind of goodwill USBI has with banks. This include owning subsidiaries and controlling affairs. 5. Competitive Rivalry: This include other providers of services similar to USBI. This include Bank of America Corporation, BB&T Corporation and BankUnited Inc. These are financial intermediaries that own bank subsidiaries and look for investment opportunities that have very high yield. This is high and provides a major cause of concern for UBSI 1. Subsidiary banks: There is the need for the banks in the USBI network to be prepared for the expansion. They would have to be adjusted and examined for expansion and growth of the operations and activities. The units need to be given much

Anna M. Kerttulas Antler on the Sea Essay Example for Free

Anna M. Kerttulas Antler on the Sea Essay In her book, Antler on the Sea, Kerttula discusses how Soviet government policies aimed to integrate the northern peoples of the USSR in reality helped the groups to maintain their identities as they defined themselves in opposition to one another. According to Kerttula, in Sireniki, the very system that sought to control and homogenize difference reinforced it (155). Kerttula illustrates the extent to which much of the native culture has survived the Soviet period. This trend is particularly prevalent as Kerttula progresses through her descriptions of Yupik, Chukchi, and Newcomer lifestyle and practices. The development of collective group identity and cultural transformation among northern indigenous peoples in the Soviet Union was heavily influenced not only by the structure of the Soviet system but also by the provoking of oppositional relationships between the groups. Kerttula effortlessly explains the interrelationships of the many opposing forces: tundra and sea, Yupik and Chukchi, natives and newcomers, and old and new ways in the North. These relationships were based on prior cultural forms, symbols and meanings but as a result of Soviet influence, local cultural boundaries were transformed and the ensuing dialogue of difference was encouraged. As Kerttula asserts, it is the we/they dichotomy that for many anthropologists defines an ethnic group (152). The Soviet state, with its ideological, political and economic goals, changed the structure of the interactions between local and immigrant groups, but was unable to change the cultural content of their discourse. According to Kerttula, historically the Yupik, Chukchi and Russians had very limited contact with one another. Prior to forced relocations and settlements that occurred with collectivization, the Yupik lived at Sireniki and met with the Chukchi occasionally for the limited purpose of trade (123). After collectivization the three groups were forced to live in a single locality and thus new dynamics and an increased frequency of interaction changed the ways that the Yupik, Chukchi, and Russians (Newcomers) worked together. As Kerttula points out, the cultural definitions and descriptors of the three groups were not always in agreement; quite often they clashed. For example, Kerttula generalizes on the Newcomers feelings of superiority to the Yupik  and Chukchi. Accordingly, this attitude of superiority was intensified by the physical separation of the three groups, both at their place of work and in their free time (152). It was the Newcomers familiarity with the Russian social structure that in fact led to this so-called superiority (152). Similarly, the Yupik and Chukchi view one another as, for instance, receiving favoritism in their language instructions at the local school. Parents are cited as believing the other group to be receiving better instruction: The Chukchi complained that there were more Yupik lessons than Chukotkan, and Yupik parents complained that the quality of the Yupik lessons were substandard (154). Unlike the Nivkhi described by Grant, the Yupik and Chukchi do not express a feeling of culturelessness. As both groups have been able to maintain dominant aspects of their traditional lifestyle, the sense of loss seemed to be felt to a lesser degree (although they did lose language and the freedom to hunt whales). The Yupik could remain defined primarily by their affinity for and connections to the sea while the Chukchi could remain defined primarily by their affinity for and connections to the tundra. Modernity within the community of Sireniki was integrated in a way that was advantageous for the people. As Kerttula points out however, instead of questioning the governments socialist tactics, most looked more locally to the others in the community (151, 153). These collective identities enabled the Yupik, Chukchi, and Newcomers to accept Soviet designated social and economic conditions by infusing these conditions with their own cultural knowledge, making them meaningful and reproducible. Kerttula captures the disharmony tolerated by indigenous people in the Soviet period as they retained their own beliefs and customs while adapting to altered environments and economic change. As Kerttula reiterates many times, modernity has brought many unexpected and unwelcome changes. Most importantly, the state has used the discourse of modernity to once again portray indigenous peoples in a way that suits their needs as an administrative body. Instead of looking to the heavy restrictions enforced by the Soviet system, the people of Sireniki focused their discourse on each other and looked to each other as being a source of some of their problems (155). Toward the end of her book, Kerttula points out a fundamental problem in the collective group definitions: if the groups defined their identities in opposition to one another, what happens to those who married cross-culturally? In her discussion of possible division within the community into different associations, this problem came to the forefront. As one of Kerttulas informants asks, to which association would the child of both Yupik and Chukchi parents belong? (152). Theoretically the three groups existed separate from the other two. In reality though, intermarriage and the creation of friendships were relatively common inter-ethnically. The individual cultures were not only subjective, but also laden with political and social questions of identity and personhood (151). What makes the case at Sireniki unique is that three distinct cultural groups were essentially forced to live together in relative peace while each simultaneously sought to prolong and promote their own traditional practices and beliefs. Kerttulas investigation and analysis is of how collective identities were facilitated among the two indigenous groups and one immigrant group in order to maintain their cultures in the face of rapidly changing social and material circumstances (153).

Overview Of The Human Resource Activities Management Essay

Overview Of The Human Resource Activities Management Essay This essay gives an overview of the Human Resource activities in Goldman Sachs Group with particular concern to the challenges faced at the senior management level. In Goldman Sachs, Human resource management is referred to as Human Capital management and during my investigation it was revealed that the Groups HR managers employ the SOFT approach that emphasis the need to gain commitment of employees through involvement and communication. The challenges faced by this division are as a result of the rapid changes occurring in the external business environment and some internal re-structuring adopted regularly to tackle short and long-term un-foreseen circumstances. The Goldman Sachs Group is a global investment banking and securities firm which engages in investment banking, securities, investment management, and other financial services primarily with institutional clients. Goldman Sachs was founded in 1869 and is headquartered at 200 West Street in the Lower Manhattan area of New York City, with additional offices in major international financial centre. The firm provides mergers and acquisitions advice, underwriting services, asset management, and prime brokerage to its clients, which include corporations, governments and individuals. The firm also engages in proprietary trading and private equity deals, and is a primary dealer in the United States Treasury security market (Goldman Sachs, 2010). According to Leif Edvinsson (2002), the only essential value an enterprise has is the experience, skills, innovativeness and insights of its people; Goldman Sachs believes human resource management plays a critical role in managing the firms most important asset, the people. People are our most valuable asset is a truism which no member of the senior management team would disagree with. The HR division serves the firm globally from locations in the Americas, Europe, India and Asia, and is responsible for a broad range of activities that relates to that outlined by Henry Fayol (1841-1925). Question 1: Business environment is rapidly changing and bringing new challenges to the workplace. What are the challenges face by the HR Manager in your chosen organization and suggest how these can be overcome by effective HR strategies. There is a dynamic shift in the global business environment today and more dramatic change is expected in the next decades especially at senior level (CIPD, 2010). As a result, HR managers at Goldman Sachs must play special roles in dealing with these changes and must develop specific competencies to tackle the effect. These changes include Workplace Diversity, Pay structure, the transfer of work abroad, either to outsourced providers or on a global in-sourcing basis; the e-enablement of many HR process; greater sophistication in the HR information technology, new structures for international HR functions; greater competition for talented staff at all levels of organization; more protracted and strategic talent pipelines. Stuart (2009) wrote in an article that If HR is not yet sufficiently respected in financial services, especially in the Investment banking industry, and then such an important issue, affecting both corporate image and the compensation of senior executives, is unlikely to be delegated to them. I strongly concur with this logic, implying that other senior executives will make the decisions, while HR is left to handle the vast amount of day-to-day paperwork: This is not the case in Goldman Sachs Group. After a careful research into the Human resource activities in Goldman Sachs, this report revealed that there is a well-structured strategy tailored specifically for senior level employees. This is because of their strong concern for long term leadership scheme required for the sustainability of their cooperate strategy. They accept as true that Human Capital management has been the bed-rock of the Organizations success so far (GS leadership Summit, 2009). There is a direct link between the corporate strategy and the HR strategies in Goldman Sachs. As a result, the HR managers in various locations continually strive to hit a balance in the way and manner they deal with executives in the top level (Goldman Sachs, 2010). The HR managers have long wanted to get away from the old reputation of telling line managers what they cannot do, by concentrating on business partnering, change management, leadership development and of course Financial Directors that are also seldom turned on by reconciliations and Internal Audit, but they do it while still remaining strategically relevant (Taylor, 2009). In Goldman Sachs, the HR function is viewed differently according to the organizations sub-divisions; however, the financial crisis has given rise to four key issues that provide HR managers in Goldman Sachs with the chance to demonstrate the value of its expertise and elevate its image and status within the Investment banking industry. These issues are: Leadership selection and development, pay structure, Workplace Diversity, intelligent and efficient downsizing, and the need for new ways to manage, engage and retain staff for higher management positions. Spencer (2009) in a research discovered that these issues are key factor that could affect the future of any organization in the long term hence the need for critical response by the HR managers in Goldman Sachs. Leadership selection and development Establishing a strong pipeline of potential leaders is important for Goldman Sachs future success (Goldman Sachs, 2008). In the financial services industry, organizations have often felt compelled to reward high revenue-generating employees with promotion to management positions, the results have been mixed indeed, it could be argued that the inappropriate selection of managers contributed to the recent crisis. The Goldman Sachs group as a whole is still grappling with this issue, thinking of effective ways to integrate star performers within the management structure without compromising standards. A good retention plan as well as training and development programs for senior executives (as illustrated in the later part of this paper) can help Goldman HR managers tackle this challenge. Pay structure The financial crisis has brought the compensation structure within all divisions in Goldman Sachs back to the drawing board (FT, 2009). There is a widespread feeling that short-term pay deals encouraged risk-taking behavior which, at least in part, contributed to the crisis. As a result, growing pressure from government, media and the general public has resulted in many investment banks rethinking the way they pay their front-line staff. The need for greater transparency, a remodeled financial incentive for risk-taking, and more precise measurement of individual performance is a topic of much debate within Goldman Sachs. At the very least, HR can anticipate heavy involvement in ensuring compliance with newly introduced and very detailed legal and regulatory requirements on pay. Workplace Diversity The future success of Goldman Sachs relies on the ability to manage a diverse body of talent that can bring innovative ideas, perspectives and views to their work. The challenge and problems faced of workplace diversity can be turned into a strategic asset if Goldman Sachs is able to capitalize on this melting pot of diverse talents. With the blend of talents of diverse cultural backgrounds, genders, ages and lifestyles, they can react to business opportunities more rapidly and creatively, especially in the global investment banking industry. Alison (2008) confirmed that this fact must be one of the important corporate goals to accomplish for greater success. More importantly, if Goldman Sachs internal working environment does not support diversity broadly, they risk losing talent to competitors. In order to effectively manage workplace diversity especially at senior level, Cox (1993) suggests that HR Managers at Goldman Sachs needs to change from an ethnocentric view (our way is the best way) to a culturally relative perspective (lets take the best of a variety of ways). This shift in philosophy has to be deep-rooted in the managerial framework of the HR Management in her planning, organizing, leading and controlling of the Groups valued asset Our People. Since pay is no longer a necessarily key motivator, other ways to attract, engage and retain staff need to be emphasized or discovered for long-term benefits. Intelligent downsizing A harsher economic climate has resulted in several Investment banks downsizing their staff level considerably. Goldman Sachs HR managers most consider reshaping the organization so that it can ride the downturn with morale intact, while ensuring that it is prepared to capitalize when the economy recovers, this will present a clear opportunity for HR managers at Goldman Sachs to prove their commercial value. However, at their annual stakeholders conference (2009), doubts were expressed about whether HR has so far managed to stamp its authority on this process. Question 2: Comment on how HR activities contribute to the success of your chosen organization. Use any 2 HRM Models to explain your answer. A number of studies have noted significance of human resource activities in the success or failure of an organization (Terpstra Olson, 1993). Human resource factors form one of the most important areas for success for Goldman Sachs (Castanias Helfat, 1991; Spender, 1993; Lei Hitt, 1995; Conner Prahalad, 1996). Carter, et al. (1994), as well as Nucci (1999) wrote that business continued existence and success is associated to human resource as well as the financial factors at the early start-up phase. A study of new businesses by Bamford, Dean, McDougall (1996) acknowledged acquiring competent human resources was critical for any Business success or failure because HR management (also called Human capital management in Goldman Sachs) influence and may determine how well success can be achieved in a highly competitive global market environment. HR managers at Goldman Sachs employ a model synonymous to the Harvard analytic framework which focuses on the different stakeholders interest that impact on employee behavior and performance. All the successful internal operational activities have been shaped by their Human Resource strategic choices (Goldman Sachs, 2009). Like the Harvard analytical framework, HRM policies at Goldman Sachs are derived from Stakeholders interest and the outcomes which are in-line with the HRM policies produces corresponding Long-term consequences (Organizational effectiveness). These consequently have a direct effect on the Stakeholders interest and several situational factors (Workforce, Business strategies, Management Structure and Culture). Stake holder Interests Shareholders Management Employee Groups HRM policy HR outcomes Long-Term Government choices Consequences Community Employee Commitment Individual Unions influence Compliance well-being Human resource Congruence Organizational flow Cost effectiveness effectiveness Rewards systems Societal well- Work Systems being Situational Factors Workforce Characteristics Business Strategy and conditions Management Philosophy Labor Market Unions Task Technology Law and Societal values Figure 1: Harvard analytical framework adapted from Beer et al (1984) Guest strategic Human Resource management model best summarize the strategies and contributions of Human Resources managers at Goldman Sachs. The model draws a link from the HRM policies (concerning Organizational design, management of change, Recruitment, selection, development and reward systems) to the Human Resource outcomes (strategic integration, commitment and quality) produced by such policies and onto the corresponding Organizational outcomes (High job performance, innovation, Cost effectiveness and competitive advantage). HRM Policies Human Resource Outcomes Organizational Outcomes High Organizational design Job performance Management of change Strategic Integration High Problem-solving Change Recruitment Commitment Innovation selection socialization Appraisal training Flexibility High development Cost Effectiveness Reward systems Quality Low Turnover Absence Grievances Leadership/ Culture/Strategy Figure 2: SHRM model Adapted from Guest (1989) The degree of the overall HR performance at Goldman Sachs is positively associated with success and growth as explained by Fombrun et al (1984). The approaches to employee recruitment and selection are many. The firm often has greater resources to filter potential workers, yet the HR managers have greater insight regarding a potential recruit at the individual level. Regardless of the types of recruitment, tests, interviews, and measures of potential performance, recruitment and selection of the right people for company positions affects the probability of success. Effective recruitment and selection is positively associated with success and growth. Designing and implementing adequate work environments, reward systems, benefits packages (among others) are part of HR function at Goldman Sachs. These are often critical to retain the highest performing quality employees. At Goldman Sachs, difficulties sometimes arise in keeping their best people from accepting posts that are more attractive. This is particularly true in the Investment banking sectors of high demand for particular human capital. Retention of quality employees is positively associated with success and growth. In the same way, Employee Satisfaction is positively associated with success and growth. The Group recorded an increase in profit from 15.6% as of November 28, 2008 to 16.0% In March 27, 2009 and this was linked to the effectiveness of her HR managers with particular concern on the way and manner they managed issues relating to recruitment and selection of the Groups senior executives, established successful retention of quality employees (created high number of high ranked staffs renowned in the investment banking industry), and excellent succession planning strategies. Rewards Selection Performance Appraisal Training Figure 3: Human Resource circle adapted from Fombrun et al (1984) HR managers at Goldman Sachs provide enhancement of human capital by education, training, mentoring and other programs as a means to improving business outcomes. These programs not only increase the skills of employees, but also motivate them and inspire new ideas. There are positive effects in the interrelation between knowledge-structures (such as development and training) with the corporate goal. Employee training and development is positively associated with success and growth. Question 3: What role HR planning plays in your chosen organization? Describe any 3 HR planning Methods that has been used to achieve organizational objectives. In March 27, 2009 Goldman Sachs improved her balance sheet, reporting a Tier 1 ratio of 16.0% (an increase from 15.6% as of November 28, 2008); credit was given to the effectiveness and proactive strategies of her HR managers for successful planning across all divisions of the group (GS summit, 2009). Goldman Sachs HR managers believe that a good planning requires an assessment of present and future needs of the organization compared with present resources and future predicted resources. Effective HR planning has anticipated and mapped out the cost and benefit of their business strategy on the effectiveness of their Human resources (Bott, 2010). These plans have enabled them anticipate the future needs of their Human resource management, and indentify practices that will help them meet those needs. Although, Goldman Sachs corporate strategy guides the HR strategies, their HR plans are highly congruent with their Business strategy (vertical integration). In like manner, the HR strateg ies are cohesive and mutually supportive to all functional departments and divisions across the Group (Horizontal integration). HR planning has contributed immensely to the emulating succession planning at Goldman Sachs (Goldman Sachs, 2009), it has helped to anticipate and prevent chaos within the organization (Smoke detectors), help to resolve employees challenges especially at the senior level, enable an effective Retention plan, and several developmental programs to ensure staff competency (Goldman Sachs treasured asset). It has also helped the group to answer question like; where will the next generation of our managers come from, how they can retain their highly skilled staffs, and what number of staffs they should employ. Several HR planning methods has been employed by HR managers at Goldman Sachs to achieve success in these areas. Some of such planning methods are; Bench Strength Plan; this planning method is more of a targeted succession planning at Goldman Sachs. It emphasizes on the Human capital on reserve that are capable of succeeding a senior executive when they leave. It is currently the least automated talent management procedure within the Group but has also provided the senior executives with global visibility into the talent pipeline and overall bench strength by leveraging dynamic talent pools and advanced analysis of capable staffs that would take over if a senior executive leaves (softscape, 2009). Goldman Sachs Succession planning systems have helped to identify, prepare, and track high potential employees for promotion and advancement. This planning method further reaffirms the fact that the key success factor as stated in the Groups Values is Our People (Goldman Sachs, 2010). Practically, Goldman Sachs examines the capabilities of her employees and follows up their performance and effectiveness from basic roles to leadership qualities. Senior executives are encouraged to select at least three employee of their choice who would be monitored and later given more responsibilities within a division by way of heading smaller departments (see figure 4). These selected employees would then be observed and scrutinized considering several behavioral and professional factors. After a specified period, one out of the three would be groomed specifically for the proposed senior position. Figure 4: Succession planning adapted from Goldman Sachs (2010) Retention Plan; this planning method enables the Goldman Sachs HR managers to identify competent employees who are of great value to the organization and have the capabilities of stepping into senior positions. This category of employees are then developed and mentored through a planned procedure to equip them with the classified ethics of the Group (GS annual conference, 2009). Goldman HR managers also use tools like competitive pay rate, quality training, and continuous development programs as a retention strategy for senior executives. Although Goldman Sachs keeps all vital information regarding their senior executives classified. Effective Retention planning has helped Goldmans HR managers to anticipate unforeseen circumstances that may occur if an employee under grooming decides to leave (Lloyd, 2008). Horizontal Progression plan; as a result of the recent economy down-turn Goldman Sachs has integrated many job positions to shrink cost (FT, 2008). The effect of this change created an un-safe environment for their employees and resulted to under performance across all divisions. As part of the strategic intervention by the HR managers, Horizontal progression plan was introduced to enable job rotation and staffs transfer across the Group (Goldman Sachs, 2009). This created a boost in their employees morale and there was a recorded Tier 1 ratio of 16.0% increase in Balance sheet (an increase from 15.6% as of November 28, 2008). Question 4: Recruitment Selection strategies ensure the deployment of a new human capital in the organization. What Recruitment and Selection strategies are taken in your chosen organization to recruit select senior management staff to enhance organizational performance? Goldman Sachs global business reputation and success begin from the recruitment and selection of competent and talented employees (Lloyd, 2009); this statement forms the bedrock on which GS HR managers build recruitment and selection strategies for senior executives. Fletcher (1996) started that an organizations workforce should match her corporate vision; hence the HR policies for recruitment and selection of senior executives at Goldman Sachs have been tailored to best fit their business goals. There is a clear definition of who is needed and a well defined role and responsibilities of any selected senior executive at all division. A recent report by KPMG (2009) started that in the USA 20 percent of the entire workforce will retire in 2011, in London 60 percent of skilled employers are facing skill shortage already, and the average cost of recruitment and selection process runs into an excess of about  £4800. Recruiting senior staff members is a critical procedure for HR managers at Goldman Sachs, unlike the general recruitment process; Brains are not just enough, there are several stages to determine whether a prospective candidate meet the Goldman Sachs intellectual standards. Prospective employees are identified, assessed and selected on the bases of their work experience and professional recognition within the financial trading, asset management and investment banking industry. Some of the best fit recruitment strategies employed by Goldman Sachs HR managers includes; Employers Branding, In-house search, Head hunters, Employee referral schemes, Professional social networks like LinkedIn (Crawford, 2010) a nd sometimes newspaper advert. Employers Branding Minchington (2005) defines employer brand as the image of an organization as a great place to work in the mind of existing employees and key stakeholders. Simon and Tim (1996) defined it as the package of functional, economic and psychological benefits provided by employment. HR managers at Goldman Sachs use their employer brand in the form of series of messages and images about the company to communicate its culture and value- from the employees point of view during the pre-recruitment phase. They employ this strategy as a strong tool to attract and recruit talented senior executives across the investment banking industry as well as retention strategy for existing senior employees (Goldman, 2009). In-House Exploration Goldman HR managers identify existing employees who have the capabilities and can possibly fill in a vacant senior position when the need arise (Goldman Sachs Tactical recruitment option, 2009). The advantage of this option is that it reduces the cost of going through the rigorous recruitment and selection process for fresh candidates. However, the disadvantage of this strategy is that when a junior employee is identified to fill up a senior position, the position of that employee becomes vacant thereby creating the need for the recruitment of another junior employee to fill in such gap. Head Hunters Traditionally, Headhunter is the industry term for a third-party recruiter, who seeks out possible candidates. Goldman Sachs has got in-house Headhunters who have been employed to network, cultivate relationships with various companies, maintain large databases, purchase company directories or candidate lists, and cold call prospective recruits (GS, 2009). This category of employees is part of the Goldman Sachs HR team and their sole responsibility is to source for possible candidates to fill any senior job role vacancy. Employee referral schemes This is the case where existing Goldman Sachs senior employees suggest potential candidates drawn from their own networks and connections. Goldman Sachs HR managers adopt this strategy very often considering the quality of these existing senior employees and their contribution to the success and standard of the Goldman Sachs Group. Latest CIPD Recruitment and Retention survey  ¬Ã‚ ndings indicates that the percentage of organizations that attract applicants by this method has increased from 38% in 2005 to over 47% in 2010 (CIPD, 2010). Purcell et al (2003) started that the willingness of existing employees to recommend their organization to others is used as a measure of organizational commitment in high performing workplaces. The advantage of employee referral schemes includes reduced recruitment costs, as well as enabling applicants to achieve a more realistic job preview. Professional social network (LinkedIn) Goldman Sachs has a network on LinkedIn a social networking site that is career focused and has got a tremendous reach across geographies. Goldman Sachs HR managers use LinkedIn to post job vacancies especially for senior management roles. Sometimes, the use of LinkedIn search prompts which has a sophisticated algorithm to job match possible candidates may become handy (Goldman, 2010). This strategy is often adopted when the need for a candidate to fill up a vacant role arise rather impromptu. However, the tendency for such situation to arise is slim due to the proactive nature of HR managers at Goldman Sachs. The right selection strategy is as important as any recruitment strategy employed by Goldman Sachs HR managers. The aim is to ensure that candidates are employed based on realistic competency rather than an acclaimed quality usually presented in resumes (Milner, 2009). Goldman selection process aim to quickly, accurately, and efficiently identify the best potential candidate for a vacant position. As a result, Goldman Sachs selects potential senior employee by means of direct telephone interview, board-room presentation and on rare occasions, face-to-face interview. Goldman Sachs HR managers adopt this medium considering the necessity for a fast, efficient and cost effective selection process for any prospective candidate who has been deemed fit for a senior position. Interviewing is the most widely used selection process in Goldman Sachs; where first and second interviews are conducted. Interviews are normally conducted between business hours, which are from 8:00 a.m. until 4:30 p.m. Interviews are ideally scheduled one week in advance, but may not always be possible, therefore negotiation between GS HR representative and prospective senior employee may be necessary. Behavioral interviewing is a common practice at during Goldman selection process, alongside with reference checks and psychometric assessments. It is advised that a combination of these selection methods be utilized to guarantee that the best candidates are screened and to benefit from a reduction in future costs associated with hiring and training, even at the fundamental entry level positions. It is also important to consider compensation and benefits packages in order to retain and attract the best candidates. Question 5: HRD interventions help organization to develop highly competent staff and teams. Describe the use of at least 3 HR training Development methods taken to enhance the competence of the senior management staff in your chosen organization. To a large extent, models of strategic HRD presupposes a rational and linear model of strategy formulation and implementation of process involving objective settings, the analysis of environmental trends and available resources, evaluation of options, and ending with a careful planning of the strategys implementation (Storey, 1991). Hendry (1995) suggested that the ideal HRD strategy should be the one that best fit Goldman Sachs business goals not actually the best practice. Beer and Spector (1989) added that strategic HRD can be viewed as a proactive system-wide intervention which is linked to strategic and cultural changes. Goldman Sachs Business objective Goals and strategies Departmental strategies Finance,Marketing,HRD,HRM,Operations HRD policies HRD plans HRD procedures HRD practices Evaluation Figure 5: Strategy and HRD adapted from (Wilson, 1999) Figure 5 illustrates the contribution of strategic HRD interventions to the training and development of Goldman Sachs human capital at every stage of the organizations strategy breakdown structure. HRD is an essential factor that affects employees capability and performance. It shows that HR development in policies, plans, working procedures, and practices would lead to staff competency. Human resource development focuses on the development of people, enhancing their skills, knowledge, attitudes so that they create value (human capital) for Goldman Sachs business needs. HRD seeks to optimize the human potential readily available across all Goldmans divisions (Shames, 2010). Goldman Sachs believes that human resource development interventions should be proactive rather that reactive (Lloyd, 2009). Employees are frequently groomed to become efficient in their core competency. Like the Japanese Kaizen, training and development is a continuous process in Goldman Sachs; the quality and standard of employees reflects the effectiveness of the HRD strategies employed by HR managers at all divisions of the Group. The training and development methods adopted are; Job rotation: Flexibility within working environment is a breeding-ground for development (Frederic, 2006). Senior executives are obligated to perform different job roles on regular bases as part of Goldman Sachs continuous development plan. This is a proactive strategy that does not only increase employees competency but also ensures that all senior employees can play several roles within the organization to reduce cost. It also creates an avenue for the HR managers to identify who best fit certain roles for efficiency and productivity. Coaching: Although rarely employed at senior level, Coaching at Goldman Sachs explains the development process where a more experienced senior executive (trainer) ensure that the senior employee under development (trainee) is monitored and guided through a well structured on-the-job training program. Usually, the trainer commits the trainee to undertake certain un-familiar responsibilities while he looks out for errors. These errors would be corrected in a manner that wouldnt tarnish the morale of the senior employee under development else the aim for the program would be ruined. This method ensures a close working relationship between the trainer and the trainee. Self-development and Learning: During the GS annual conference in March, 2008, Goldman Sachs CEO Lloyd C. Blankfein stated We cannot recruit an employee who doesnt have value for self development. Self development is enhanced by continuous learning and development in a broader perspective increases competency. Goldman Sachs encourages its senior management staffs to improve by constantly challenging them with greater job responsibilities as well as a regular review of working standards. Figure 5 illustrates the model of Goldmans employees continuous learning where they engage in learning opportunities to maintain, or improve, their employability. Figure 6: GS continuous learning structure adapted from (eBusiness Community Model, 2010) Question 6: What role Performance Management plays in achieving higher performance in your chosen organization? M

Free Narrative Essays - Getting Out :: Personal Narrative Essays

Getting Out      Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Moving to Ankeny proved to be more difficult that I first expected. I had been looking forward to moving out of the house for over four years, and wxpected it to be easy and fun.   Moving turned out to be neither easy nor very fun, as I had hoped it would be.      Ã‚  Ã‚  Ã‚  Ã‚   I took us four trips to Ankeny just to get our apartment.   First, we had to look at different apartments.   Then we had to sign a few papers and leave a deposit.   Belmont Apartments decided to change the way it filed information.   So, we had to go back again to sign a bunch of papers, bring a money order for the first month's rent, rip up the old deposit check, and pay a highter deposit.   The apartment manager showed us the apartment, and then we left.   Our apartment manager decided to move us to the third floor. So, we had to approve the apartment and tell her what we wanted fixed.   At last, we had our apartment.      Ã‚  Ã‚  Ã‚  Ã‚   Finally, it was August and it was time to move.   Our original plan was to move everything at once with friends and family, but August became very bust.   One week I went on vacation to Chicago.   Then I had to go fishing for four days with my family.   Another weekend I went ot a friend's house, who I met at Boy's State, to see a rodeo.   My roommate, Nathan, had a wedding ot attend.   Nathan worked from eight'o clock untill five thirty as a hired hand.   I worked a virity of hours at the Dariy Queen usually over lunch and supper, which is when Nathan did not work.   By the time we finished playing the messages game, we dicided to take our things to the apartment when we had time to go to Ankeny.      Ã‚  Ã‚  Ã‚  Ã‚   Nathan and I had to by at DMACC on the same day for a financial aid seminar.   So, we planned to help each other take the thins up to the apartment.   Lucky for me he had already taken all of his heavy furniture on a previous visit.   I had a hide-a-bed couch, a love seat, a desk, and other smallitems to take up to the apartment.

Movie Journals

Journal 1 What’s cooking? Explain the representation of women and their roles in their families. Explain the role of the generational conflict. How does the setting design tell about the characters? The film What’s cooking? is about four different families all coming from different cultures, but focuses primarily on the women of each. We have a Jewish mother who is trying to accept the fact that her daughter is a homosexual and trying to eases the acceptance. Then we have the Nguyens, the mother follows the Vietnamese traditions really tightly and depends on her eldest son to help guide her young children.In the Avila family we see  Elizabeth, whose macho husband has left her for her cousin and has found consolation with a colleague. In the Williamses the wife is dealing with an infidelity from the husband as well as putting up with an annoying mother in law. These family problems show us that every women has the same problems no matter what ethnicity they are or cult ure. Throughout the film we see generational conflict. In the Williamses's family we see a conflict between the wife and the mother in law when they were arguing if the turkey was ready.The mother in law has different ways, â€Å"old styles† of cooking and preparing food, which causes them to bump heads. Also in the same family the father and son don’t see eye to eye in the son’s education. The son wants to go to Howard, an all black college. His father doesn’t want that for his son he tells him that he would rather like him to go to a University like UCSB and be part of the white patriarchal capitalistic society, but the son feels that it is more important for him to cope with his minority group. The visual designs used to portray the houses tell us a lot about the families.The Williamses house is the biggest out of all the homes. This shows that they are of a high socioeconomic class. When compared to the Nguyens we see that the Nguyens are of a lower s ocioeconomic class. We also see this when they are preparing the mash potatoes for the thanksgiving dinner. The Nguyens use their hands to mash the potatoes while the Williamses use a blender to mash it for them. The Nguyens are clinging to their Vietnamese traditions so tightly they haven't a clue how to listen to their children. The Seeligs house decor seems to be old school insinuating that they have lived in the neighborhood for a while.They seem to be conservative keeping their old traditions. We see this when the father doesn’t want his daughter to tell his relatives that she is a lesbian and has a girlfriend. Journal 2 Hairspray Explain how Tracy challenges the ideology of her time. Explain how she challenges the way women are perceived. Explain how color acts as a way of explaining the world of the film. Tracy challenges the ideology of her time in many different aspects. Tracy lives in the 60’s when society was dominated by a white patriarchal system. Segregat ion was still going on but it was on its last terms.Tracy challenges the system by questioning why the African Americans only danced one a month on Negro day and why they couldn’t dance along side with the white kids. Questioning the Jim Crow laws that were a big part of society at the time, which kept people segregated. She also challenges the patriarchal society when she confronts the police which are the repressive state apparatus and how they don’t allow integration. Tracy challenges the way women are perceived in films. In most films women are these skinny tall beautiful women who get what they want. In hairspray Tracy is the opposite of this norm that has been adapted for women.She is a short big girl who is in love with the most attractive guy at school. Who in reality has no chance with him what so ever. Despite all of this she makes him fall in love with her challenging the norms. Showing us that anything is possible to achieve and that the true character of a person is defined by inner qualities rather than outer ones like skin, color, dress size or hair style. The colors in the movie play an important role on how the movie is seen. We see that the Corny Collins show is in black and white showing us that it is an example of how close minded people where at that time in history.At the end when the Corny Collins show gets rid of the segregated dancing we see Queen Latifah wearing a bright golden clothing to symbolize that they have reached their ultimate goal, which is to finally be assimilated and accepted into society. Journal 3 The Birds Discuss The Birds through an analysis of the male gazes. How is Melanie Daniels power taken from her? why? When we analyze the film The Birds through the male gaze we see through the eyes of Mitch, or Mitch’s point of view as he seems to view her for her sexuality and aggressiveness.She seems to want Mitch to watch her and goes out of her way to be sure that he does. In another scene as she is h olding the lovebirds in the elevator she seems in some ways to be posing for the gentleman in the elevator with her. As she leaves the elevator her eyes seem to go to the side in a very cautious manner to see if the man is watching as she leaves the elevator. She seems to know the power and desire of her sexuality as we view her through the camera lens in the same way as one might view someone who is on display and want to be seen.This especially can be seen when Melanie’s has come on to Mitch in some highly suggestive manners and he tells her, â€Å"back in your gilded cage Melanie Daniels. † He seems to suggest that she in fact is too much for him to handle sexually and mentally, and the bird cages symbolizes that maybe Melanie sees herself as one of those love birds and seeks love, and freedom from her own cage in life. Melanie is seen as a woman of strength and grace who is not afraid to go after what she wants and does not care who knows it.She is also aggressive and daring, as well as independent which makes all of these things admirable to some men, but could also frighten some men. The film seems to follow the ideology of investigate and punish we see this when Melanie is stripped from her power for defying the patriarchal rules. Melanie’s power is taken away when she gets attacked by the birds. When she is getting attacked she is moaning in a sexual way as if she were getting raped by the birds. Symbolizing how she is being stripped from her aggressiveness and confidence. Showing us how vulnerable she really is.The final step that tells us that her power has been completely removed is when we see her red nails ruined. Mitch’s mom no longer sees her as a threat of taking Mitch away from her so she holds her trying to console her, approving of her. Journal 4 Sunset Boulevard Is Norma Desmond a sympathetic character in the film? Who has the most power in the film? In the film Sunset Boulevard Norma Desmond is seen as a sympath etic character towards the middle of the film when the audience notices that she is stuck in her past, living in a dream, â€Å"waiting for the cameras†.It is her egoistic attitude and her actions that make the audience feel bad and sympathize her. We can also sympathize when she cuts her wrist because Joe has gone out to work on the movie script with Betty and thinks he is cheating on her. She makes the audience feel bad for her. When she finds out that there will be no film she goes crazy in disbelief In the last scene we see a fade in of Norma’s face this causes her to look and seem crazy with the help of the lighting. This makes the audience feel somewhat compassionate and sympathy for her. It seems that Norma Desmond has the most power in the film.Sunset Boulevard being a film noir takes part of the castration complex. She is seen as a â€Å"predator† aggressive and waiting for its prey so she can attack it making her a femme fatales. We see this when she s ees Joe. She jumps all over him tries to buy him, making him want to stay. Joe being in the financial crisis that he was in made him vulnerable and susceptible to Norma’s control. Also in the film we see when she goes and buys Joe a suit, not knowing what to get the store owner tells him to get the expensive one that she is paying making him not be the provider. It is seen again when Joe goes to the pharmacy to buy Norma cigarettes.She hands him the money and Joe seems to be hesitant to take it. It seems that his male â€Å"provider† ego seems to not approve of the money given to him by Norma. It gets to a point that Joe actually starts to get use to the life he has. We can see Norma is in control over Joe because she takes away his life because he is living her. Making her have the power in the film. Journal 5 Out of the past Why is Jeff Bailey considered a classic film noir anti hero? Discuss the use of the male gaze in reference to the two central females, Kathie an d Ann. Jeff Bailey is seen as a classic film noir anti hero in Out of the past.An anti-hero is a protagonist that does not always make choices that audiences would make, or has different, more unsound motivations than a typical hero. He can be shown to make poor or unethical choices yet is still intended to get the sympathy of the audience. This adds a complexity to the films and challenges many of traditions of literature and cinema. This makes us question the character of this protagonist, and yet we are forced to follow and empathize with him, because he carries the story. Jeff perfectly fits into this category. When he has the flashback of when he goes to Mexico to go look for Kathie who has taken 40000 dollars.Kathie being a perfect example of a femme fatale seduces him and makes him fall in love with her. She does this so he doesn’t turn her in, messing with his job orders. At the end Jeff is killed by Kathie because he has ran away with her not following the norms that the audience would expect, sending a subliminal message on the consequences if one were to act in that manner. The male gaze is used in the film and we can see it in the two central female actresses Kathie and Ann. The way they are portrayed through the male gaze is very different. We see Ann as a non seductive woman, that has an angelic face.The clothes she wears are not revealing and leave room for imagination. While Kathie on the other hand is seen as a very seductive women that does whatever it takes to get what she wants. Also the lighting used for each actress is different. For Kathie at times we see she is in a dark background and we can’t see her face. Making her a mysterious, cynical character. While Ann on the other hand is always in the light and we see her face symbolizing innocence. The angles at which they are filmed are also a factor. When Kathie is being filmed we see that she is looking down at Jeff, making her look superior.With Ann she is always at eye lev el with Jeff. Journal 6 Is Run Lola, Run truly a feminist film or does the male gaze still apply to this film? The film Run Lola, Run follows the feminist film theory but still has some male gaze point of views. The lead female character in Run Lola Run, is the heroine. Lola comes to the rescue of her boyfriend Manni, which disrupts the popular model, norm of men portrayed as the heroes of society. This film is set in Berlin where Manni loses a small fortune of his mob-boss’s money and relies on Lola to save his life.She has twenty minutes to gather 100,000 and meet him at a designated location or Manni will be killed. Not only is Run Lola Run unique because the woman is the heroine, but also because it combines animation and hand held camera to create a variety of experiences through different types of shot. The literacy design is coupled with a limited dialogue and more action, the film goes against the norm of popular cinema. Lola shows the audience that she has the power to shape what is going on around her, throughout each round. During the course of the film we see the game theory in action, there are three realities that play out.Each segment concludes with a different outcome. The choices of the main characters, Lola, alter the ending. Lola proves to be a strong and compelling person through examples such as her glass shattering scream. At one point it seems to own mystic powers, when it affected a game of roulette that Lola needed to win in order to acquire money to save Manni. There are other aspects of Lola’s power, as in her intense running throughout the entire film, robbing her father as well as helping in robbing of the supermarket, and saving another man’s life by simply holding his hand.Although she is white and slender, has bright dyed red hair, is very athletic, has tattoos, and is not the average beauty. The film not only challenges societal idea of what a woman should be, it also undermines the way films are commonly u sed to construct a reality for the viewer by going against the norm of shots, narrative, time, and the power of the individual. Lola is the writer of her own life, she takes an active role in her story as well as others.

Software Associates

Assignment 1: Variance Analysis Report In order to perform a variance analysis report Jenkins calculated the actual revenues and expenses and found the difference which was $296,610 in profits. Then Jenkins did the same with budgeted values and found the budgeted profits to be $606,350. The variance amount in turn is $309,960 under budget. Also, the variance amount for revenues is $32,100. This number is favorable due to the fact that they made more than what they had budgeted for. But on the contrary, the variance amount for expenses was $342,060, which was unfavorable because they spent far more than what they had budgeted for.This information would not be sufficient in order to explain to Norton why their profit percentage is nearly half of what they budgeted. This variance analysis report only shows the raw numbers and not any details to why they spent more on expenses than what they budgeted. Jenkins would have a difficult time explaining details to why they went over budget. Sh e would need to show him a detailed expense report of the budgeted items and the actual amount they spent on the items. Then she would have to clearly define which items went over budget and why.This variance analysis report would not help Jenkins in the 8 am meeting she has would need to provide more information. Assignment 2: Preparing the Budget: Variance Analysis Report In order to provide more information to Norton, Jenkins will need to perform a variance analysis report. Jenkins would be required to use the numbers provided in Exhibit 2. She will use the numbers on the budget and actual income statement to identify revenue quantity, which is provided in number of hours. She will then identify actual and expected quantity.The actual number of consultant hours exceeded the expected number of consultant hours. Then Jenkins subtracted the actual amount of hours from the expected amount of hours and then multiplied by the expected labor price of $90. Jenkins found that Software Ass ociates made a total of $278,100 when providing the extra amount of hours billed. This is favorable for Software Associates if the billing rate was $90 as expected; however the average rate per consultant amounted to $83. 69. Next, Jenkins determined the average billing rate variance by subtracting the actual price from the expected price.She then multiplied the difference in price and the quantity of work done. Jenkins found that they had a deficit of $246,090. This is unfavorable because Software Associates is losing money due to the actual rate drop from $90 to $83. 69. When Jenkins compared the variance of both quantity of hours and hourly rate, this gave her the total revenue variance of $32,100. The total revenue variance is also the difference between the actual revenue and expected revenue. Over all, it is favorable that Software Associates created more revenue.Jenkins then determined whether or not the additional revenue would cover the additional costs incurred for the exc ess consultants. Jenkins used the same method for consultant expenses. By subtracting the actual number of hours supplied (50,850) from the budgeted number of hours supplied (47,250) and multiplying the expected costs, $37, Jenkins found a cost of $133,200. $133,200 is the amount they paid over the expected cost due to the increase in actual labor. Next, Jenkins took the actual cost of $39. 90 and subtracted the expected cost of $37 then multiplied the actual amount of labor hours, 50,850.This amounted to $147,465. This is the extra amount Software Associates paid due to the labor cost change. The two numbers, $133,200 and $147,465, equal $280,800. The difference in consultant salaries cost from actual to expect cost is $280,800. Overall operating expense is broken down into two categories, actual and expected. Subtract the actual operating expense, $938,560, from the expected operating expense of $877,300 to get the variance of $61,260. This amount is unfavorable. Jenkins found the total expense variance by completing the same equation.She subtracted the expected total expense from the actual total expense. The total expense variance was found to be $342,060. The extra hours worked created more costs than the extra revenue acquired. This puts the company in an awful position. The budget was not planned out very well. The price of the billed labor decreased while more labor was done and less was billed for. This is an equation for disaster as you can see. More planning must be taken when figuring out a budget and Software Associates must stick strictly to the budget for reasons like this. Numbers can add up quickly.Assignment 3: Expense Analysis: Spending and Volume Variance Analysis of Operating Expenses Jenkins then needed to analyze the expense analysis. Many of the expenses for Software Associates were not entirely fixed costs or variable costs. Rather, many of the expenses were a combination of fixed and variable costs. Therefore, Jenkins evaluated the ov erhead of the company and prepared Exhibit 3, which shows her judgment about each expenses degree of variability. Due to the increased expenses per consultant, it is also important to study how costs change with the additional consultant.In order to examine the relationship of overhead costs and number of consultants, Jenkins found the amount of the budget, which was deemed variable, and which was deemed fixed. The budgeted variable amount was obtained by multiplying each expense’s budgeted amount by the percent in which was expected to be variable. Then, she subtracted the budgeted amount from the budgeted variable amount to find the budgeted fixed amount. These calculations are shown in Exhibit 3A. Next, Jenkins took numbers and calculated the spending variance and volume variance.In order to perform a spending variance, she subtracted the actual amount spent from the budgeted amount. In this case the actual amount spent was $938,560 and the forecasted expenses totaled $877 ,300. After subtracting those numbers she found that the spending variance was $61,260. This is an unfavorable outcome of the quarter and can be mostly attributable to the eight extra consultants that were hired. The volume variance is determined by subtracting the budgeted quantity from the actual quantity and then multiplying the cost per unit.In this case, the expected number of consultants was 105 but the actual number of consultants was 113. To determine the cost per consultant, she took the total variable cost [$525,000] and divided it by the actual number of consultants [113] and got $4,646. Therefore by multiplying $4,646 by 8 Jenkins found the volume variance of $37,168. This is unfavorable and when compared to the spending variance, she determined that one of the major faults in Software Associate’s expenditures for the quarter was hiring the extra eight consultants which were not budgeted for.Assignment 4: Billing Percentage: Analysis of Revenue Change After analyz ing the expense analysis, Jenkins wanted to understand why the actual number of consultants was nearly 8% higher than the budgeted amount when revenues only had increased by 1%. Jenkins knew if she viewed the budgeted amount of hours allocated for consultants versus the actual hours spent towards consultants she would be able to determine if the consultants were being less productive. First Jenkins viewed the billing percentage by analyzing how much the consultants were billed for versus how much they were expected to be billed for.The consultants were billed for 39,000 hours when they supplied 50,850 hours creating an actual billing percentage of 76. 7%. The budget, however, projected to bill for 35,910 hours when actually supplied 47,250 hours creating a 76% billing percentage. Jenkins noticed there was a difference of 3,600 hours that were billed and supplied for which was not allocated in the budget. Each of these numbers was found by Jenkins referring to Exhibit 4. Jenkins also noticed that the average billing rate per consultant decreased from $90 to $83. 69.Overall Jenkins saw that if she took the actual hours supplied [50,850 hours] and multiplied it by the actual billing percentage [76. 7%] and then multiplied that by the actual cost per consultant [$83. 69] that there was an actual cost of $3,264,073. 1955 spent towards her consultants. Jenkins also noticed that when she recreated this same equation but in retrospect of Software Associates budgeted amount she found that they were only budgeted to spend $3,231,900. 00 on consultants. This was found by taking the budgeted hours supplied [47,250 hours] and multiplying it by the actual billing percentage [76. %] and then multiplying that by the actual cost per consultant [$90. 0]. (Each of these numbers was found by Jenkins referring to Exhibit 4. ) After analyzing the actual amount versus the budgeted amount of money Software Associates allocated towards consultants, Jenkins noticed there was a $32,173. 1955 increase in spending this quarter. Jenkins noticed that the billing percentage increased and the rate per consultant decreased. Based on the increase of consultants allocated and the increase in salary and fringes per consultant, Jenkins realized she is paying more for consulting.Their work does not appear to be more productive in the grand scheme of things. Software Associates are paying a lot more money for more consultants and not receiving a high enough overall revenue increase. Jenkins further analyzed Software Associate’s spending towards their increase in consultants by directing her attention towards the increase in hours supplied by the consultants [3,600 hours= 50,850-47,250] and multiplied that by the expected billing percentage [76%] and multiplied that by the expected rate per consultant hour [$90] and there was a variance of $246,240. 0. $246,240. 00 defines the amount that would have been spent per consultant. This is an unfavorable outcome for Software A ssociates because they are spending a considerable amount of money and not receiving a high return on investment per consultant. The quantity of work is not benefiting the company enough to spend more money on maintaining that number of consultants.