Review of What Management Is Essay Example | Topics and Well Written Essays - 500 words

Review of What Management Is - Essay Example Management has been the key to innovation for success in the past as well as the present. It contains such principles which are jargon-free. She studied how different people work together and emphasized all ideas for effective management should be transmitted into action to get better performance. This theory was supported on the basis of case studies considering dell, for hospitals etc. only such people should be hired in the organization who have capabilities to deal with challenging situations. Management is not only used in business, nowadays management is required for every work. For instance, if one has made choice in any decision or it is related to the community, one should first know the definition of management and should also identify both good as well as bad aspects. In an organization, managers have limited resources they should be able to manage those in accordance with the requirement. In order to become a manager, no training is needed i.e. normally many managers do not possess any formal diploma in management, rather a diploma doesn’t prove that a person is a good manager (Magretta Joan 15). Managers work efficiently only because they have work pressure because of which they prefer to work in teams, find the quick solution to the problems and try to make an effective decision in a short time. To be a manager is the most critical job compared to other professions. Managers are the sole person who helps us identify whether social institutions are serving us properly or not. So one should band the tradition of thinking of a managerial work, in spite should adopt it in practice so that difficult problems can be solved and performance can be improved further (Mintzberg Henry  165).  

European Financial Crisis Essay Example | Topics and Well Written Essays - 500 words - 1

European Financial Crisis - Essay Example It did this for years and no country raised a hand to punish Germany. The financial crisis started back in 2007 characterized by a long phase of quick credit growth, low risk premiums, profuse liquidity and the growth of real estate bubbles. Overstretched leveraging made financial institutions susceptible to corrections in asset markets, according to Kolb (113). The parties that carry the most responsibility for the European economic crisis in the financial sector were banks. Banks in Europe had invested heavily in extremely complex, opaque and highly priced financial products (Van Den Noord 12). Many banks became uncertain of the credit worthiness of their counterparts who had engaged in such investments. This virtually resulted in the closure of the interbank market with risk premiums soaring on interbank loans. As a consequence, the banks faced grave challenges in rolling over their short term debt. In Ireland, for example, the banking system achieved exceptional growth thereby creating external debts far beyond the country’s gross domestic product. In the government sector, the structure of the Eurozone was widely to blame for the economic crisis. The zone uses one currency, and in the absence of fiscal union, the ability of leaders to respond adequately remained quite limited (Van Den Noord 23). Different countries failed to abide by the fiscal paths or requirements of the union. Governments are also to be blamed for the crisis considering that they did not deal with their over expenditure before the situation got out of control. In Greece, for instance, the government made great commitments to its public workers and gave them huge pension benefits and wages. Governments also borrowed so much from banks. The Eurozone financial problem is a detachment of a global problem. The global problem is all about lack of equilibrium between the private sector

The Bitumen Stabilised Materials Engineering Essay

The Bitumen Stabilised Materials Engineering Essay The following section looks at what bitumen satbilised materials are and how they are implemented in construction. As many aspects of bitumen emulsion and foamed bitumen overlap this section looks at them both together, which sub-sections outlining the differences between the methods. Introduction Bitumen Stabilised materials Bitumen stabilized materials are materials which have been treated with either bitumen emulsion or foamed bitumen. When adding either type of bitumen the quantity of bitumen should not exceed more than 3% of the total mass of the dry aggregate, as this would mean it is more than a stabilizing agent. Furthermore in many situations an active filler in the form of cement or hydrated lime can also be added to the mix. If it is added however it should not exceed more than 1% of the bitumen stabilizer added. If it does the materials is considered to be cement treated. It is also important to note that this stabilisation agent does not the material into solid asphalt like material. In undergoing this treatment the material will remain in a granular state similar to how it was before stabilisation. It is only its behavioral characteristics which will change. The material will experience an increase in material strength and a reduction in moisture susceptibility as a result of the manner in which the bitumen is dispersed amongst the finer aggregate particles. The fact that the material will remain in a granular state means that this treatment method is dramatically different from all other pavement materials. The dispersed bitumen changes the shear properties of the material by significantly increasing the cohesion value whilst causing little change to the internal friction angle of the material. It will also have a void content similar to that of a granular layer, not like and asphalt. Bitumen Emulsion As the name suggest in this process bitumen is emulsified in water. This means that bitumen is dispersed in water, with the knowledge that they will not mix; due to the fact an emulsifying agent is used. The emulsifying agent will also give the bitumen emulsion a charge, making the bitumen emulsion either cationic or anionic. This mixture is then added to the aggregate which will make up a part of the pavement structure. As the bitumen droplets are charged, they will be attracted to the aggregate particles. In attraction they will be drawn to the smaller particles as they have the greatest surface area and charge concentration features. For these reasons the type and moisture of the aggregate in the mix is crucial in efficiently dispersing the bitumen emulsion and preventing premature separation of the bitumen from the water during mixing. Once it has been mixed the separation of the water from the bitumen needs to occur. This will allow the bitumen to act as a binder. This separation should only occur after the material has been fully compacted. The mixing process involved with Bitumen Emulsion occurs offsite in a manufacturing plant. Here it is can be stored for several months. The diagram below shows a simplified version of the manufacturing process. Foamed Bitumen To produce foamed bitumen water is injected into hot bitumen, which results in instant foaming of the bitumen. In the foaming process the hot bitumen is turned into vapour, which is trapped in thousands of tiny bitumen bubbles. These bubbles dissipate in less than a minute. When the bubbles burst they form tiny bitumen particles. These spread throughout the aggregate attaching themselves to the finer particles of the aggregate mixture. When the aggregate is compacted, the bitumen covered particles are pressed against the larger particles in the aggregate. As a resultant of this localized non-continuous bonds are formed, like spot welds. Behaviour As the material treated with bitumen will remain in an unbound state, it will act similar to the original material. The only difference will be an improved cohesive strength and reduced moisture sensitivity, which are both favorable outcomes. This is because the bitumen only disperses amongst the finer particles, which forms a bitumen-rich mortar between the coarse particles. This also means that opposite to the common misconception that the material will become black and sticky like a hot-mix asphalt. The material will only slightly darken in colour. Through numerous tests around the world of bitumen stabilized pavements a number of initial observations on how the pavement will behave have been made. The following behaviours have been assumed. Materials treated with either bitumen methods will experience an increase in cohesion. The friction angle of the treated material will remain similar to the untreated material. They obtain flexural strength. Which will mean the pavement is less likely to crack when subjected to tensile stresses. Moisture sensitivity and durability are improved. This is due to the fact the finer particles are encapsulated and immobilized blocking flow channels. The most common mode of failure is permanent deformation. All these behaviors will depend on the following: The local climate (Temperature, Average rainfall, likeliness of frost or snow) The properties of the parent material The density of the layer The quantity of binder added The use of any active fillers The properties of the supporting material It is important to note here that BSMs behave very different to asphalt and cement treated materials. Benefits There are a number of benefits associated with using BSMs. These include: Increased strength The ability to replace higher quality materials, meaning a cost saving Improved durability Improved moisture sensitivity Can provide cost and time savings Typical failure mode is permanent deformation, which requires less effort to rehabilitate when compared to a material that will fail due to full-depth cracking They are not temperature sensitive If the road requires rehabilitation BSMs propose little treat to the environment They are not overly sensitive, meaning the amount of bitumen added can vary slightly The process does not require heavy construction traffic. This limits the damage cause to newly constructed layers during construction Limitations When considering whether to use BSMs or not there are three main limitations. These should be carefully considered when making the decision to use BSMs. The three limitations are; Economics Bitumen treatment can add significant costs to a project. Its use of lower caterogory roads should be carefully examined as it could not be worth it. Design Expertise as they are currently been developed and act differently from all other pavement materials careful design is required. Construction Expertise the construction process requires attention to detail. This means special training of the work force is required. Along with this limitations the both bitumen emulsion and foamed bitumen have their own disadvantages Bitumen Emulsion With bitumen emulsion come the following disadvantages By adding the water present in the emulsion process, the original material may go over its optimum water content. This will mean the material cannot be compacted properly. A quick setting time is required allow the material to gain sufficient strength the construction process must be completed with care. If the bitumen breaks prematurely it will not mix properly. If the material is to stable it can take months for the bitumen to break Foamed Bitumen With foamed bitumen come the following disadvantages it requires sufficient fines. They required to ensure the bitumen mixes thoroughly. Foaming equipment needs to be up kept and be in correct working order. The foamed bitumen needs to be sprayed in uniform, consistent manner. The process requires specialist equipment, as the two liquid are not compatible. Materials Suitable for treatment For bitumen stabilisation to work a suitable material must be selected. First of all the material must be granular. For this reason materials that are suitable for treatment include; Crushed rock Previously untreated natural gravels, such as basalt, granite, limestone, quartz, sandstone Reclaimed asphalt It can also be said that calcrete gravels can be used for bitumen emulsion; however it will not work with foamed bitumen. Design Approach Design Sequence The first step in a typical design for a BSM involves an investigation of the conditions. This includes expected traffic volumes, the materials available, the climate and the pavement structure for recycling projects. Once this has been done a laboratory investigation of the proposed material takes place. This involves determining the materials class. The next step is to design the mix and make the final material classification. Once all of these steps are completed the structural design is completed. In this design if it is shown that the road is not economically viable the mix design will be redone and the steps repeated. Shown below is a flow chart of the steps involved. Mix Design In using a stabilizer it is important that the stabilizer meets its intended purpose. The process of design the mix will be mainly dependent of the design traffic, the material available and the cost considerations. However n creating a mix design it is also important to consider the following; The primary failure mode this will define the materials performance requirements. Appropriate laboratory tests tests need to be selected that will identify the key performance criteria and failure mechanisms. Identifying key mix properties and intrinsic material properties. Taking into account variability in material properties Environmental factors Climate and moisture conditions. The ability to effectively compact the material. In designing the mix it is important to note that optimum bitumen content is not always selected for the mix design. This is because although the optimum bitumen content will provide the maximum material strength, this will mean other characteristics are forfeited. For example a high strength design will often lead to brittle inflexible pavement layers that are susceptible to cracking. In designing the mix it is important that the design is balance so that it will be suitable to it requirements. Classification of BSMs Currently South Africa has divided Bitumen Stabilised Materials into three classes. These classes are dependent on the quality of the original material and the design traffic. The three classes include: BSM1 The parent material has a high shear strength, and is normally the base layer for large volumes of traffic. Source materials include well graded crushed rock or reclaimed asphalt. BSM2 The parent material has a moderately high shear strength and is normally the base layer for moderate traffic loads. Source materials include graded natural gravel of reclaimed asphalt. BSM3 The parent material is soil-gravel and/or sand, stabilized with higher bitumen contents. It is a base layer that can only handle low traffic volumes. It is thought that Australia will have a classification system similar to this. Mix design BSMs behave in a very complex manner, which gives engineers a great flexibility when it comes to designing a mix that will best meet the design conditions. The mix is made up of aggregate, bitumen and sometimes an active filler where required. In design the mix there are two fundamental failure mechanisms that need to be designed for in the mix these are; Permanent Deformation This is dependent on the materials shear properties as it is caused by the accumulation of shear stresses. Resistance to permanent deformation as known as rutting is improved by: Improved aggregate angularity shape, hardness and roughness Increased maximum particle size Improved compaction Reduced moisture content Addition of limited amounts of bitumen Addition of an active filler Moisture Susceptibility this is the damage caused by the exposure of a BSM to high moisture contents and pore-pressures caused by traffic. This then means a loss of adhesion between the bitumen and the aggregate. Due to water been involved in the mixing stage and the partially coated nature of the aggregate makes moisture susceptibility an important consideration in the evaluation of material performance. Moisture resistance is improved by Increased bitumen content Addition of an active filler Improved compaction Smooth continuous grading It is interesting to note here the difference in recommended bitumen content. To help prevent deformation limited amounts of bitumen are recommended. However to improve moister resistance increased bitumen contents are recommend. This means that a compromise must be made, by using the laboratory testing to determine a bitumen content which will meet the demands of the design. Mix type selection As stated in sectionXX the three main factors the influence the type of BSM used are: The design traffic The quality of aggregate available The cost Once the type of BSM has been selected there are three main factors that affect the bitumen and active filler selection for the mix design; Traffic design (volumes and loadings) Climate (particularly moisture considerations) Supporting layers (strength) The influence these factors have is demonstrated in the following figure. As it can be seen heavy traffic loads, a wet climate and weak supporting layers all mean an increased amount of bitumen is required to ensure design requirements are meet. Mix Design Procedure To create the best design mix possible several procedural steps need to be done. This ensures that that every criteria is meet, as there are numerous variables that need to be checked. The first step of the mix design is to test the material which will be treated. This is done to ensure that the material is appropriate for testing. These tests include standard laboratory tests to determine the materials grading curve, moister, density and Atterberg limits. The next tests which are undertaken are the level 1 mix design tests. These provide an indication of the application rate of bitumen and active filler required to achieve an indicated class of BSM. Level 1 starts with the preparation of samples that will be used to manufacture the specimens required for all levels of mix design testings. testing at this level involves preparing 100mm diameter specimens which are compacted and cured for the purpose of undergoing Indirect Tensile Strength testing. These testing results are used to: Indentify the preferred bitumen stabilizing agent Determine the optimum bitumen content Identify if there is a need for an active filler and its type Tests after level 1 are done depending on the design traffic. The first of these are Level 2 mix design tests. The test at this level involves making a sample which is 150mm in diameter and 127mm in length. These are manufactured using vibratory compaction and then cured at the equilibrium moisture content. This sample then undergoes Indirect Tensile Strength to optimize the required bitumen content. The level 3 mix design test is only recommended for high capacity roads. This test involves preparing 150mm diameter by 300mm in length specimens, which allows for a higher level of confidence. It then undergoes the same Indirect Tensile Strength test. Mix Constituents Aggregate A wide range of mineral aggregates are suit for use with both types of bitumen treatment. These include aggregates ranging from sands to weathered gravels to crushed stone and can either be virgin or recycled. These must however fall into certain quality standards to ensure the road will be at it required class. When examining a material its following properties will be checked: Durability characteristics of the untreated aggregate Plasticity Grading Spatial composition Weathering characteristics Aggregate source The aggregate used can come from three different sources, Virgin Aggregate, Recycled Granular Layers and Reclaimed Asphalt Quality of Aggregate In using bitumen to stabilize the material it is possible to use a poorer quality of aggregate. For virgin aggregates four tests are used to identify material limits. Soacked CBR Grading completing a grading will identify any deficiencies in the material Percentage passing through the 0.075mm sieve higher fines contents mean a higher need for bitumen Plasticity Index for bitumen emulsion the materials PI should be less than 7. For foamed bitumen the materials PI should be less than 10. Materials with a high PI can be treated with lime. For recycled granular layers the materials quality will depend on: The structure of the existing pavement Construction variability Depth of recycling Age of the pavement Degree of patching and repair on the existing pavement Thickness and nature of old surfacing seals. Using reclaimed asphalt needs serious consideration as some material may not meet the quality standards required. This is particular important on highly used roads, where traffic loads are going to be large. When deciding whether the quality of the reclaimed asphalt will meet standards, the following needs to be considered. Climatic region if the material is going to be placed in a warm climate, shear tests must be carried out to represent that climate Axle loads high stresses will result in accelerated deformation of the road. This means that if the road is to carry heavy traffic its shear properties will need to be carefully considered Reclaimed Asphalt Composition if needed crusher dust can be added to the mix. This will provide an angular skeleton that will improve the mixes shear resistance. Grading The grading requirements for both types of bitumen stabilisation is different. This is due to the fact that the bitumen will disperse differently. The graph and table below give an indication of the grading required for each type of stabilisation. XXXXXX Bitumen Emulsion As the above table shows a minimum filler content of 2% is required. This is because the bitumen emulsion will coat the large particles of the aggregate better than the foamed bitumen. Foamed bitumen Foamed bitumen requires more filler; approximately 5% filler content is required. This is because the bitumen droplets disperse through the material, only partially coating the large particles. It uses the filler to create a spot welds connecting the larger particles using the fines. Bitumen Selection The bitumen selected plays an important part in how well the BSM works. Penetration grade bitumen is used to produce both bitumen emulsion and foamed bitumen. In the next two sections the specific bitumen requirements for each form of stabilisation is given below. Bitumen Emulsion For bitumen emulsion base bitumens with a penetration value between 80 and 100 are normally selected. In saying this around the world softer and harder grades of bitumen have successfully been used. In recent years there have been many technological advances which have allowed the bitumen emulsion to have improved stability without prolonging the break time. However sufficient testing of the bitumen mix needs to take place both in the mix design phase and during construction trials. This will ensure the correct bitumen has been chosen. Another important consideration is the compatibility of the bitumen emulsion and the aggregate. This is because the type of bitumen chosen is influenced by the type of aggregate been treated. Certain materials are not suitable for catatonic treatment and others are not suitable for anionic treatment. The table below gives an indication of the compatibility of the emulsion with a aggregate. Aggregate Type Compatible with Cationic Emulsion Anionic Emulsion Dolerite Yes Yes Quartzite Yes No Hornfels/Greywacke Yes Yes Dolomite Yes Yes Granite Yes No Tillite Yes Variable Basalt Yes Yes Syenite Yes No Amphilbolite Yes Yes Marble Yes Yes Rhyolite Yes No Felsite Yes No Sandstone Yes No Andesite Yes Yes Furthermore it is normally recommended that the undiluted bitumen emulsion is heated to between 50 and 60Â °C. This will prevent premature breaking of the bitumen emulsion while pumping in the construction equipment. It is also important to note here that when diluting the emulsion the emulsion must be added to the water. This will prevent premature breaking. Foamed Bitumen When it comes to foamed bitumen a softer grade of bitumen can be used without compromising stability. This is because foamed bitumen only requires low percentages of bitumen in the mix. However like bitumen emulsion typical penetration values are between 80 and 100. Harder bitumen is normally avoided due to the poor quality of foam it produces. There are two main properties that determine the suitability of the bitumen for foamed bitumen stabilisation. These are its Expansion Ratio and its Half-Life. The expansion raito is a measure of the viscosity of the foam. This is what determines how well the bitumen will disperse through the mix. It is calculated by finding the ratio between the maximum volume of foam in relationship to the original volume of bitumen. The half-life is a measure of the stability of the foam and provides an indication of the rate of collapse of the foam during mixing. It can be calculated by determining the time it takes for the foam to collapse to half its maximum volume. The table below shows the minum limits of the expansion ratio and the half-life of the bitumen. XXX The greatest factor which will influencing the foam properties is the water injected into the expansion chamber. A greater injection of water will mean a higher expansion ratio, but this is offset by the fact it will mean a short half-life as the foam will subsided faster. Furthermore a higher bitumen temperature is usually recommended as it will create a better quality foam. Active Filler There are two types of fillers which can be used to improve the results of bitumen stabilisation; these are active and natural fillers. An active filler is a filler which will chemically alter the mix properties. There are various active fillers which can be used, examples of these are cement hydrated lime and fly ash. Natural fillers are fillers such as rock flour. These fillers can be used either by themselves or in a combination with another filler. Their use will depend on their cost, efficacy during use and the materials availability. Research has shown that it is almost impossible to predict the effectiveness of a filler. The only way to gain an idea of their effect is to complete experiments using different mixes. Active fillers are added to the bitumen in order to; Increase the stiffness of the mix Increase the rate at which the mix will gain strength Improve the dispersion of bitumen in the mix Improve adhesion between the bitumen and the aggregate Improve the curing time of the compaction mix Along with these general improvements, there are specific benefits for both treatments. For Bitumen Emulsion a filler will: Control the breaking time of the emulsion Improve the workability of the emulsion For Foamed Bitumen a filler will: Assist in dispersing the bitumen droplets Natural fillers on the other hand only act as a supplement for a lack of fines in the material which is needed for dispersion. It is important to note that when adding an active filler the time between the bitumen is mixed and it application is dramatically reduced. When an active filler is added the reaction begings immediately when it comes into contact with moist material. The longer the delay between mixing and application the less the filler will work. Water To ensure a high quality product it is important that the water used in mixing meets certain standards. Each technique requires different water qualities. Bitumen Emulsion For bitumen emulsion the pH levels of the water are extremely important. For cationic bitumen the water cannot be alkaline. If it is hydrochloric acid can be used to decrease the waters pH. For anionic bitumen emulsion the opposite applies, the water cannot be too acidic. To make the water more alkaline lime or caustic soda can be added to the water. Foamed Bitumen The standards for foamed bitumen arent as high as they are for bitumen emulsion. It is acceptable for the water used to contain some impurities, however this should be avoided. This is because the water can affect the mixing machinery. Specimen Preparation Moisture Moisture plays an important part in using bitumen to stabilize material. The role that moisture plays in the two types of BSM is explained in the table below. Component Bitumen Emulsion Foamed Bitumen Bitumen Contributes to fluids for compaction Does not effect Moisture in aggregate Reduces absorption of bitumen emulsion water into aggregate Separates and suspends the fines making them available to bitumen during mixing Prevents premature breaking Acts as a carrier for bitumen droplets during mixing Extends curing time and reduces early strength Reduces early strength Provides workability at ambient temperatures Reduces friction angle and lubricates for compaction Provides shelf-life for the mix The term for the best moisture content in the material is the optimum mixing moisture content or OMMC. It is important to note that for bitumen emulsion this moisture value is the moisture in the aggregate plus the moisture from the emulsion. The introduction of modern rollers has allowed for high energy compaction. In the case of BSM this means a lower fluid content can be used to produce the same quality of compaction. This has the added benefit of increasing the strength of the BSM. Material Preparation Below is the basic procedure for the material preparation involved in the mixing design. Determine the grading curve of the aggregate and its optimum moisture content of the natural material Determine the materials Atterberg Limits Determine the moisture and density relationship of natural material to obtain optimum moisture content Determine the moisture and density relationship of the treated material to obtain optimum moisture content Determine the moisture and density relationship using vibratory hammer compaction to obtain optimum moisture content Mixing It is recommended that a pugmill mixer is used in both mixes. The use of different mixers can produce up to a 25% difference in strength. Experiments have found that the pugmill mixer provides the most comprehensive mix. Compaction Correct compaction of the material is extremely important as it reduces the voids and improves particle contact. The use of bitumen emulsion will help improve the compatibility of the mix, while the use of foamed bitumen will promote the adhesion of the bitumen mastic to the stone. Curing Curing is the process where the water is removed from the compacted layer. Water can be removed from either evaporation, particle charge repulsion and pore-pressure induced flow paths. The reduction in moisture content will lead to an increased tensile and compressive strength as well as add stiffness to the mix. The curing process is different for both methods Bitumen Emulsion It is chemistry that controls the way bitumen emulsion treated material cures. By removing the water from the mix breaking of the emulsion occurs. To do this the water is removed by means of evaporation and migration. This curing will take longer than foamed bitumen curing, due to the higher moisture contents. Foamed Bitumen The curing of the foamed bitumen is a natural process. It is cured through the migration of water during compaction and continues as the water is evaporated. Testing There are two main tests which are used to check the various mix designs, they are the Indirect Tensile Strength test and a Triaxial Test Indirect Tensile Strength This test is completed to measure the flexibility of the material and give an indication of its tensile strength. The table below gives a guide for interpreting the results of the test. Test Specimen Diameter (mm) BSM1 BSM2 BSM3 Purpose ITSdry (kPa) 100 >225 175-225 125-175 Indicates optimum bitumen content ITSwet (kPa) 100 >100 75-100 50-75 Indicates need for active filler ITSequil (kPa) 150 >175 135-175 95-135 Optimise bitumen content ITSsoaked (kPa) 150 >150 100-150 60-100 Check value on ITSwet Triaxial Test This test is completed to meause the cohesion of the material, the friction angle and the retained cohesion. The table below gives a guide for interpreting the results of the test. Test or Indicator BSM1 BSM2 BSM3 Cohesion (kPa) >250 100-250 50-100 Friction Angle (Â °) >40 30-40 Retained cohesion (MIST) >75 60-75 50-60 Structural Design As discussed in Section XX the structural layers purpose is to protect the subgrade by dispersing the traffic loads. This means that the pavement structure and subgrade must work together to ensure the required design capacity. Construction For both stabilizing methods once the material has been mixed into the material, the various construction operations are relavitivily the same as those if the material wasnt treat

James A. Naismith: Creator of Basketball :: Biography

Millions of players of basketball which was created by one man by the name of Dr. James A. Naismith. James Naismith was born around the 1860s. James Naismith created the game of basketball in 1891. Dr. James A. Naismith was truly influential to the sports world through the creation of basketball, building Kansas University basketball tradition, and changing lives of millions of people through the game of basketball. Before the game of basketball James Naismith was truly influential to the sports world. According to James A. Naismith â€Å"as a young man, Naismith studied Theology and excelled in various sports. Naismith was always drawn to religion because he knew he wanted to help others, but his life's mission became clear to him one day during a football game: a football teammate began cursing after a blown play, but then stopped and apologized to Naismith, who was known for his morals. Naismith realized that "there might be other ways of doing well besides preaching" and got the idea that he could practice his ministry through sports† (1). James Naismith was always thought of as a man known for his morals. According to an article entitled James A. Naismith, â€Å"Naismith also is credited with inventing the helmet for football players. Which gives better safety to football players"(1). The football helmet is truly beneficial to football and sports world. The creation of basketball and before the creation of basketball was truly influential to the sports world. Basketball has a huge impact on the sports world. Naismith began to think about a new game that could be played indoors during the winter. In two weeks, he’d come up with the basic concepts that would define the game basket ball: to discourage tackling, players would not be able to run with the ball, but made the game of basketball would was made to pass it; the players would have to loft the ball instead of shoot it. In 1891, Naismith was appointed an instructor by Luther Halsey Gulick, Jr. Head of Physical Education at Springfield. Naismith put sports together such as soccer, American Football, Field Hockey and other sports. â€Å"Naismith created the game of basket ball for players to play during football and baseball. The game started with two peach baskets, a soccer ball and 13 rules.†(Original Rules of Basketball 1) Rains and Carpenter said â€Å"Naismith loved the idea that a minimum of a basketball, a basket, and a place to play (52). James A. Naismith: Creator of Basketball :: Biography Millions of players of basketball which was created by one man by the name of Dr. James A. Naismith. James Naismith was born around the 1860s. James Naismith created the game of basketball in 1891. Dr. James A. Naismith was truly influential to the sports world through the creation of basketball, building Kansas University basketball tradition, and changing lives of millions of people through the game of basketball. Before the game of basketball James Naismith was truly influential to the sports world. According to James A. Naismith â€Å"as a young man, Naismith studied Theology and excelled in various sports. Naismith was always drawn to religion because he knew he wanted to help others, but his life's mission became clear to him one day during a football game: a football teammate began cursing after a blown play, but then stopped and apologized to Naismith, who was known for his morals. Naismith realized that "there might be other ways of doing well besides preaching" and got the idea that he could practice his ministry through sports† (1). James Naismith was always thought of as a man known for his morals. According to an article entitled James A. Naismith, â€Å"Naismith also is credited with inventing the helmet for football players. Which gives better safety to football players"(1). The football helmet is truly beneficial to football and sports world. The creation of basketball and before the creation of basketball was truly influential to the sports world. Basketball has a huge impact on the sports world. Naismith began to think about a new game that could be played indoors during the winter. In two weeks, he’d come up with the basic concepts that would define the game basket ball: to discourage tackling, players would not be able to run with the ball, but made the game of basketball would was made to pass it; the players would have to loft the ball instead of shoot it. In 1891, Naismith was appointed an instructor by Luther Halsey Gulick, Jr. Head of Physical Education at Springfield. Naismith put sports together such as soccer, American Football, Field Hockey and other sports. â€Å"Naismith created the game of basket ball for players to play during football and baseball. The game started with two peach baskets, a soccer ball and 13 rules.†(Original Rules of Basketball 1) Rains and Carpenter said â€Å"Naismith loved the idea that a minimum of a basketball, a basket, and a place to play (52).

College Essay Essay

Do we send students to college to grow personally and intellectually or strictly to develop work related skills? In your opinion what should be the purpose of a college education and what do you hope to gain from your personal experience? College is a big step for anyone, especially teenagers, who is still growing up. Unlike in high school where the main focus is the curriculum, college also focuses on developing personality. College is not about papers and tests; it is about growing personally and intellectually while developing work related skills to help in life. A college education involves more than books and tests. It should be an experience a student should never forget. At Southwestern University, the school motto is â€Å"Be Southwestern. † To â€Å"Be Southwestern† students have to be determined and focused. To â€Å"Be Southwestern† students have to be involved. During my visit to Southwestern University, I noticed that for such a small school there are so many opportunities available to learn in variety of environments and participate in campus life. At Southwestern University the campus life consists of music, plays, Greek life, athletic events, religious interests, and preparation for the study abroad program. I have never been out of this country, and one thing I like about Southwestern is the study abroad program. Personally, I have always wanted to go to Italy. Not just because I am in love with Italian food but because it’s so different from America. I want to go to a college that allows me to see the world and experience new things. A college education should help you meet your desire to explore and interact with the world around you. Another thing I like about Southwestern University is how much help is available for students from professors. I want to go to a college that has small class sizes and cares about me as an individual. Every Southwestern University student I’ve talked to has said the professors will know who you are, will always be available for assistance, and will always help you succeed. At Southwestern University, a student is not just a number. The professors there are dedicated to a student’s personal success. Instead of going to a tutor, a student can schedule a simple meeting with the professor to discuss theclass. A little help can go a long way. As a student at Southwestern University, I hope to continue to strengthen my sense of pride and leadership. I have played the game of softball my entire life and hope to continue to play competitively in college. In my college softball experience, I hope to gain a greater inspiration to push myself harder than ever before both, academically and athletically. I hope one day when I look back on my college career I can say that Southwestern made me the student-athlete I always wanted to be. Through my college experiences, I will see the world in a new perspective, developing new intellectual light in a variety of subjects, and engaging in challenging curriculum and discussions. I want to find out who I am and what kind of person I will become, and I strongly believe Southwestern University will help me do that. A college education should additionally develop an individual’s appreciation for history. I go to a high school that is starting to make its history; however, I want to go to a university that has its history already established. As the oldest school in Texas, Southwestern University has many traditions. I want to be able to engage in these traditions and perhaps help make some new ones while I’m there. I don’t just want to be a part of history – I want to make history. A college experience should be one of the best times in a person’s life. The professors, the activities, and the history of the school should help one develop personally and intellectually as a student. I know that my time spent at Southwestern University will make me stronger, confident, and a more independent thinking individual who is ready to face not only challenge of working environment but also whatever life throws at me.

Human Resource Practice

A Report on HRM issues in the Banking sector: A Case Study on IFIC Bank Limited MBA Program, Stream: HRM Department of Management Studies Faculty of Business Studies University of Dhaka July 20, 2009 A Report on HRM issues in the Banking sector: A Case Study on IFIC Bank Limited Submitted To, Professor Dr. Md. Ataur Rahman Department of Management Studies University of Dhaka Prepared By, MBA, Stream: HRM, 10th Batch, Department of Management Studies University of Dhaka Executive summary In this global competitive era, banks have an important role as a financial institution. This report has been prepared on a commercial bank. In every organization, men/human resources play an important role for its success. No organization whether it is small or large, labor intensive or technology intensive can run without human resource. The topic of our report is â€Å"HRM issues in the Banking sector: A Case Study on IFIC Bank Limited. † We have done this report on the IFIC bank Ltd. Although we have learned some banking activities during preparing our report we have mainly focused on HRM issues to keep the report on the right track. The Bank has a Human Resource & Division for its employees’ training & development. The also has an Academy for this purpose. There is a Library in the Academy. Bank uses both on-the job training & off-the job training method. Branches use on-the job training namely job rotation, Coaching/ under study approach, direct supervision by the senior managers. Head Office uses off-the job training namely Lectures, Conference, Workshop, Management Game, Role playing, Behavior Modeling and Case Study etc. The workforce was 96 in 1983 & 2014 in 2006. Benefits of the Employees such as House building loans, Car loan at lower interest rate, Provident Fund, Insurance Facilities are available for its employees. Minimum two years is required for promotion of the employees. Two Methods of evaluation for promotion: 1. Annual confidential report (ACR) scored by the immediate supervisor 2. Interview marks. Both marks are added together to prepare list for promotion. Statistical Analysis indicates Average Job Satisfaction Of the employee (Mean) is 3. 37 out of 5. Standard Deviation is 0. 82 & Coefficient of Variation (CV) is 24. 3 %. The performance of the bank is satisfactory. Our Report consists of four Chapters namely Introduction, Methodology, analysis & Findings, Conclusion & Recommendations, & Bibliography & Appendix. In the first chapter: History of the organization, objectives of the organization, functions of the organization, organ gram of the organization, existing program of the organization and the future program of the organiz ation has been described. In the second chapter: Objectives of the study, data collection, data interpretation, limitations of the study has been described. In the third chapter: Human resource planning, recruitment and selection, training and development, performance appraisal, CPD, findings, pay scale and labor management relations has been described. In the final & fourth chapter recommendations, conclusions, suggestions and appendix and bibliography are given. Letter of Transmittal 20 July, 2009 To Dr. Md. Ataur Rahman Professor, Department of Management Studies Faculty of Business Studies University of Dhaka Subject: Submission of Report. Dear Sir, With due respect, we are stating that we are a few students of MBA program Stream: HRM doing our report under Professor Dr. Md. Ataur Rahman. We are very happy to inform you that we have prepared our Report on â€Å"HRM issues in the Banking sector: A Case Study on IFIC Bank Limited† and would like to submit it to you at this time. Therefore, we will be highly pleased if you accept our Report. Sincerely Yours, MBA 10TH Batch Stream: HRM Department of Management Studies Faculty of Business Studies University of Dhaka Acknowledgement At the very outset, we do hereby express our heartiest gratitude and countless thanks to the Almighty who has enabled us to prepare this report on â€Å"HRM issues in the Banking sector: A Case Study on IFIC Bank Limited† We would like to thank our Professor Dr. Md. Ataur Rahman for his sincere guidance. We have done report our on IFIC Bank Ltd. We would like to thank the Managing director of the Bank, Md. Masiur Rahman; Senior Executive Vice President Head of HRD & Research, R. M. Debnath. Md. Sahabuddin, Librarian of the IFIC Academy Library has helped us providing information about the HRM issues of IFIC Bank Ltd. Finally, we would like to thank all persons who have helped us to prepare our Report. Abbreviations Used |No. Abbreviation |Elaboration | |01 |IFIC |International finance investment & commerce | |02 |MD |Managing Director | |03 |SEVP |Senior executive vice president | |04 |EVP |Executive vice president | |05 |SVP |Senior vice president | |06 |EVP |Executive vice president | |07 |VP |Vice president |08 |SAVP |Senior assistance vice president | |09 |FAVP |First assistance vice president | |10 |AVP |Assistance vice president | |11 |SSO |Senior staff officer | |12 |SO |Staff officer | | 13 |G-1 |Officer grade-1 | |14 |PO |Provisionary officer | |15 |G-2 |Officer grade-2 | |16 |CASH/COMP |Cash/Computer officer | |17 |OA(SG) |Office assistance(security guard) | |18 |O. ASSTT. |Office assistance | |19 |SS |Security staff | |20 |O. ATT. Office attendance | |21 |Ltd. |Limited | |22 |HRM |Human Resource Management | Table of contents |Chapter no. |Particulars |Page no. | | |Executive Summary |3 | | |Letter of transmittal |4 | |Acknowledgements |5 | | |Abbreviations |6 | | |List of chart and graph |9 | | |Dedication |9 | |Chapter 1 |Introduction |10 | | |(a) Background |10 | | |(b) Objectives |10 | | |(c) Functions |11 | | |(d) Organ gram of the organization |11 | | |(e) Existing program of the organization |13 | | |(f) Future program of the organization |16 | |Chapter 2 |Research methodology |17 | | |(a) Objectives of the study |17 | | |(b) Data collection |17 | | |(c) Data interpretation |18 | | |(d) Limitations |19 | |Chapter 3 |Findings and analysis |19 | | |(a) Literature review |19 | | |(b) Human resource department |22 | | |(C) Workforce 22 | | |(d) Human resource planning |24 | | |(e) Recruitment and selection |24 | | |(f) Training and development |25 | | |(g) Performance appraisal |28 | | |(h) Career planning development |29 | | |(i) Findings |29 | | |(j) Pay scale |30 | | |(k) Labor management relations |32 | |Chapter 4 |Recommendations and conclusions |33 | | |(a) Conclusions |33 | | |(b) Recommendations |34 | | |(c) Suggestions |35 | | |Appendix |36 | | |Bibliography |38 | List of graph and charts In this report we have not used too much chart and diagram because the topic is the HRM related issue and not on the financial matters we are preparing this report so have used only four chart and graph. |Page no |Contents |Subject matters | |12 |Table |Organizational hierarchy | |23 |Bar Diagram |Workforce | |24 |Organizational chart |HRP | |32 | Bar diagram |Pay scale | Dedication Dedication to our course teacher Dr. M. Ataur Rahman And Our Mother and Father Date of submission: 20/07/09 Chapter 1 Introduction (a) Background of IFIC Bank Limited International Finance Investment and Commerce Bank Limited (IFIC Bank) is a banking company incorporated in the People’s Republic of Bangladesh with limited liability. It was set up at the instance of the Government in 1976 as a joint venture between the Government of Bangladesh and sponsors in the private sector with the objective of working as a finance company within the country and setting up joint venture banks/financial institutions abroad.. In 1983 when the Government allowed banks in the private sector, IFIC was converted into a full-fledged commercial bank. At that time this deposit was 231. 03 crore and profit figure was 5. 06 crore. Up to 2008 its number of branch stands to 65 and its paid up capital was 1,341,431,400 TK. The Government of the People’s Republic of Bangladesh now holds 35% of the share capital of the Bank. Leading industrialists of the country having vast experience in the field of trade and commerce own 34% of the share capital and the rest is held by the general public. The bank earned ever-highest operating profit during the year 2002 among all private banks of Bangladesh (except Islami Bank BD Ltd. ) The bank earned an operating profit of Tk. 55 crore during the year 2006. (b) Objectives of the organization The objective of the organization is to provide service to its clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge will make its position unique in giving quality service to all institutions and individuals that it care for. It is committed to the welfare and economic prosperity of the people and the community, for that it is working towards to gain progress to prosperity. The bank want to be the leader among banks in Bangladesh and make its indelible mark as an active partner in regional banking operating beyond the national boundary. In an intensely competitive and complex financial and business environment, it particularly focus on growth and profitability of all concerned. (c) Functions of the organization ) IFIC acts as an investment and finance company under arrangement of joint venture with the Govt. of Bangladesh. 2) It operates Foreign Exchange Business in a limited scale. 3) It operates as a commercial b ank. 4) It operates overseas joint venture such as in 1983 it set up its first overseas joint venture on the Republic of Maldives. 5) It acts as a joint venture Exchange Company. 6) IFIC establish overseas bank such as that branch in Pakistan at Karachi. 7) By joint venture activities it functions the act of second lease financing. (d) Organ gram of the organization The thirteen members of the Board of Directors are responsible for the strategic planning and overall policy guidelines of the Bank. Further, there is an Executive Committee of the Board to dispose of urgent business proposals. Besides, there is an Audit Committee in the Board to oversee compliance of major regulatory and operational issues. The CEO and Managing Director, Deputy Managing Director and Head of Divisions are responsible for achieving business goals and overseeing the day to day operation. The CEO and Managing Director is assisted by a Senior Management Group consisting of Deputy Managing Director and Head of Divisions who supervise operation of various Divisions centrally and co-ordinates operation of branches. Key issues are managed by a Management Committee headed by the CEO and Managing Director. This facilitates rapid decisions. There is an Asset Liability Committee comprising member of the Senior Executives headed by CEO and Managing Director to look into all operational functions and Risk Management of the Bank. Organizational hierarchy |Managing Director | | | |Deputy Managing Director | | | |Assistant Managing Director | | |General Manager | | | |Deputy General Manager | | | |Assistant General Manger | | | |Senior Principal Officer | | | |Principal Officer | | | |Senior Officer Grade-| | | | |Officer Grade-|| | (e) Existing program of the organization In 1976 IFIC was established as an Investment & Finance Company under arrangement of joint venture with the Govt. of Bangladesh. In 1980 it commenced its operation in Foreign Exchange Business in a limited scale. In 1982 it obtained permission from the Govt. to operate as a commercial Bank. In 1983 setup its first overseas joint venture (Bank of Maldives) on the Republic of Maldives. Then it commenced operation as a full-fledged commercial Bank in Banglad esh. In 1985 it set up a joint venture Exchange Company in the Sultanate of Oman. In 1987 it set up its first overseas branch in Pakistan at Karachi. In 1993 it Set up its second overseas branch in Pakistan at Lahore. In 1994 it set up its first joint venture in Nepal for banking operation. In 1999 it set up its second joint venture in Nepal for lease financing. In 2003 the Bank celebrated its 20th founding anniversary. Other than that the Bank offers various loans and scheme to the customers. The major loans and schemes are the banks main product. The description of the products are given below. 1. Auto Loan: Rolls Royce, Ferrari or a Cadillac that's for one born with good luck. For the one's who dream to make their own luck. Come to IFIC for your desired Car. Getting the Loan: If you are an adult employed person and have an account with us then you can easily apply for the AUTO LOAN. Loan Size: Maximum Tk. 15 lac Loan Period: 12-60 months. 2. Consumer Loan: Life is complex as it is. IFIC makes your life-style easy and comfortable with the Consumer Durable Loan. So avail the easy facility offer. Getting the Loan: If you are an adult and employed person and have an account with IFIC, then you are eligible to apply for the loan. Loan Size: Maximum Tk. 1 Lac. Loan Period: 12-36 months. Processing: Quick Processing Immediately,  Least Formalities. 3. Porua Loan: A good education is the foundation for a successful life. IFIC is offering the opportunity to students to pursue higher education opportunity with the loan facility. Getting the Loan: If you are an adult employed person and have an account with IFIC, then you are eligible to apply for the loan. Loan Size: Maximum Tk. 8 Lac Loan Period: 12-48 months Processing: Quick Processing Immediately, least Formalities. 4. Flexi Loan: The demands and uncertainties of life getting you down? Here is the answer. Come avail yourself IFIC's Flexi Loan, to turn the uncertainties of life to a certainty you can control. Getting the Loan: If you are an adult Bangladeshi employed by the Govt/Autonomous body/ Bank/ MNC/ NGO or any other kind of employed person with at least monthly Tk. 10,000 salary then you are eligible for the Flexi Loan. Loan Size: Maximum Tk. 3 lac. Loan Period:12-36 months. Processing: Quick Processing Immediately, Least Formalities. 5. Thikana Loan A man's home is just not his castle, it's more than an asset, and it’s an investment for his future generation. IFIC's Thikana Loan helping you find your ADDRESS. Your life's Satisfaction First. Getting the Loan: If you are an adult employed person and have an account with IFIC, then you are eligible to apply for the loan. Loan Size: Maximum Tk. 75 Lac. Loan Period: Maximum 15 years. Processing: Quick Processing Immediately, Least Formalities. 6. Possession Loan For those people running a successful business from rented premises, IFIC BANK is there to finance you for loan. So your business can have its own Permanent Address. Getting the Loan: If you are a Bangladeshi entrepreneur with only 2 years of successful business record & having a valid trade license and also have an account with IFIC, then you are eligible to apply for this loan. Loan Size: Maximum Tk. 5 Lac. Loan Period: Maximum 65 years on the date of maturity of the loan. Processing: Quick Processing, Immediately, Least Formalities. 7. Peshajibi Loan Whether you are a Doctor/ Engineer/ IT professional/ Management Consultant or any other professional come find out about IFIC's advancement Peshajeebi Loan that lays the foundation for your career elevation. IFIC works for your professional Satisfaction. Getting the Loan: If you are an adult employed person and have an account with us then you can easily apply for the PESHAJEEBI LOAN. Loan Size: Maximum Tk. 5 lac. Loan Period: 12-36 months. Processing: Quick Processing Immediately, Least Formalities. 8. Retail Loan To the small entrepreneurs who know their trade yet feel frustrated by the lack of money to get a bigger share in the marketplace. IFIC BANK understands their problem and believes that financial support at the right time can take them to (their desired) right place. Getting the Loan: If you are a Bangladeshi entrepreneur with min of 2 years of successful business record, have a valid trade license and have an account with IFIC, then you are eligible to apply for this loan. Loan Size: Maximum Tk. 1 Lac. Loan Period: Maximum 2 years. Processing: Quick Processing Immediately, Least Formalities. 9. Pension Savings Scheme Empower yourself for a secure and prosperous future with IFIC PSS. Partnership for a prosperous and secure future. Features: Under this Scheme you can open a deposit scheme for Tk. 500, Tk. 1000, Tk. 2000 and Tk. 5000 per month for 3 or 5 years whichever suits you. You can make the deposit within 10th of each month (In case of holiday the next working day). You can get Loan up to 80% of the deposited amount You can receive the entire deposit amount with interest at one go or receive a pension on a monthly basis at a desirable amount of your monthly installments. For your clarity a Table of Deposit Scheme and after Maturity Payable Amount is given below: Monthly Installment 3 Years Scheme 5 Years Scheme Tk. 500 Tk. 20322Tk. 36266 Tk. 1000 Tk. 40645Tk. 72532 Tk. 2000 Tk. 81290Tk. 145064 Tk. 5000 Tk. 203225Tk. 362661 (f) Future program of the organization The banks future program is to provide service to its clients with the help of a skilled and dedicated workforce whose creative talents, innovative actions and competitive edge make its position unique in giving quality service to all institutions and individuals that it care for. The bank wants to be the leader amongst banks in Bangladesh and make its indelible mark as an active partner in regional banking operating beyond the national boundary. For that reason it is making joint venture and new loans and schemes and expanding its business in the country and outside the country. Chapter Two Research methodology (a) Objective of the study The main objective is to analyze HRM issues and to find the different problems associated with different HRM activities. Specially: ? To find out different problems of HRM activities ? To judge the employees’ job satisfaction level ? To seek different problems of the employees in the banking sector ? To identify the reasons for which the problems are created ? To search ways to solve the problems of the organization ? To provide suggestions to solve problems of the employees and the banks (b) Data collection a) Primary sources: A questionnaire that are being answered by different people from IFIC bank Ltd. ? Guidelines and suggestions from our Professor Ataur Rahman. ? Interviewing the bank officials, specially the various officers of IFIC Bank Ltd, IFIC academy. b) Secondary Sources: ? Annual reports of IFIC Bank Ltd ? Different Published Booklets of IFIC Bank Ltd ? Different books ? Various published documents ? Various information from various website. ? Academic calendar 2007, IFIC Bank Limited. ? Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch. ? Web site: www. ificbankbd. com. (c) Data interpretation For data interpretation two approaches have been mainly used in this report, 1. Conceptual approach 2. Empirical approach. The approaches are discussed below: ? Conceptual approach: A theoretical section is given in this report (the company profile) to give an insight various information concerning the financial function. ? Empirical approach: This refers to that has been directly collected and interpreted from the survey on IFIC bank Limited. Statistical analytical tools such as trend analysis of the different variables such as number branches, employees etc. of the different years, analysis of the various performance indicators with the help of different tables, figures & diagrams such as simple & multiple bar diagram etc. are used in the report. Statistical Analysis such as standard deviation, co efficient of variation and mean is used to understand job satisfaction etc. Such as average job satisfaction of the employee (Mean) is 3. 37 out of 5. Standard Deviation is 0. 82 & Coefficient of Variation (CV) is 24. 33 %. (d) Limitations of the study Nothing is beyond limitations. Everywhere and in every task there must have some sort of limitations. We also faced some problems at the time of preparing our report as well. The limitations are: ? Lack of availability of data ? Shortage of time ? Company’s restrictions to disclose all information ? Perceptual difference of the employees to measure job satisfaction Chapter 3 Findings and analysis (a) Literature review Our report is on the HRM practiced by IFIC bank so literature review is focused on the HRM terminologies. Human Resource Management (HRM) The set of organizational activities directed at attaining, developing and maintaining an effective workforce. Why is Human Resource Management (HRM)? It is not possible to run any organization (whether it is small or large) without people/ Human Resources. Organization must satisfy its employees to achieve its objectives. It is not possible without Human Resource Management (HRM). HRM is important for: ? Hiring capable/right employees for the organization ? Motivating employees ? Retaining capable employees ? Taking steps for guarding high employee turn-over Orientation, training and development of the employees ? Placing employees in the right jobs ? Maintaining good relation among the organizational members ? Developing team sprit, cooperation & morale of the employees ? Delegating the authority & responsibility among the subordinates ? Controll ing administration human resources of the organization Major Human Resource Management (HRM) activities are: ? Job analysis ? Recruitment & Selection ? Orientation, Training and Development ? Compensation Management ? Job evaluation ? Performance appraisals ? Motivating Employees ? Communication Human Resource Management (HRM) Terminologies: Job analysis: A systematic procedure for collecting and recording information about the jobs. Compensation: Compensation is what employees receive in exchange for their work including their pay and benefits. Recruitment: the processing of attracting capable individuals to apply for the job that is open. Internal Recruitment: Internal Recruitment considers current employees as applicants for higher-level jobs in the organization. External Recruitment: People are collected from outside the organization to apply for the jobs. Employment tests: Employment tests are the devices that assess the probable match between applicants and job requirements. HRM selection: Selection is the choosing capable employees both the job and organization. Training: Teaching operational or mechanical employees how to do the jobs for which they are hired. Development: Teaching managers and professionals the skills needed for both present and future jobs. Training and Development Methods: Assigned readings, behavior modeling, case discussion, conference, Lectures, on the job training such as job rotation etc. Job evaluation: An attempt to asses the worth of each job relative to other jobs Performance appraisals: A formal assessment of how well an employee is doing his or her jobs. Benefits: Benefits are the things of value other than financial compensation that an organization provides to its workers. (b) Human resource department Human Resources Department is focused on recruitment and in-house training for both on the job and off the job Bank staff members through the Bank’s Academy. IFIC Bank Academy – the oldest institution in the private sector – was conceived of as an in-house training center to take care of the training needs of the Bank internally. Academy is fully equipped with a professional library, modern training aids and professional faculty. Library has about 4941 books on banking, economics, accounting, management, marketing and other related subjects. Main training activities consist of in-depth foundation programs for entry level Management Trainees. Specialized training programs in the areas like general banking, advance, foreign exchange, marketing and accounts etc. re also organized by the Academy depending on need. Frequently outreach programs are organized to meet demand for new and specialized skills. During its 23 years of existence, Academy not only conducted cour ses, workshops and seminars as required by the Bank, but it also organized training programs for the Bank of Maldives, Nepal Bangladesh Bank Limited and Oman International Exchange LLC. (c) Workforce Total manpower stood at 2,014 as on December 31, 2006. Out of them 1430 were officers and 584 were non-officer employees. The number of female employees in the Bank on the date was 275. Growth in workforce of the Bank from 1983 to 2006 is given below: Growth in workforce Year |Officer |Staff |Total | |1983 |61 |35 |96 | |1985 |264 |89 |432 | |1990 |512 |480 |992 | |1995 |964 |601 |1565 | |2000 |1151 |549 |1700 | |2005 |1415 |575 |1990 | |2006 |1430 |584 |2014 | Sources: IFIC Bank Academic Calendar 2007 Prepared from previous table [pic] Analysis: Total employees from 1983 to 2006 have been shown in this figure. Total employees was 96 in 1983, 432 employees in 1985, 992 employees in 1990, 1565 employees in 1995, 1700 employees in 2000, 1990 employees in 2005, and 2014 employees in 2006. (d) HRP [pic] (e) Recruitment and Selection The Recruitment & Selection procedure of the bank is also related to its overall strategy. The bank is going to expand its branches in the near future and the bank is recruiting new employees & junior officers to satisfy its long run objectives. Highly qualified employees are hired for the organization. Entry-level position & minimum qualification: External sources: Provisionary officers: Minimum graduate Grade-2 officers: Minimum graduate Cash or computer officers: Minimum HSC Below the Above level: Minimum Class-VIII Internal sources: Other senior posts are filled by the internal sources except some technical or specialized field. (f) Training and development The Academy At the very beginning, the bank laid a foundation by setting up an academy at Head Office under Human Resource Division to develop human resource internally. Equipped with a professional library, modern training aids, professional faculty and other facilities, the Academy of the bank is a leading one among the banks in private sector. The Academy regularly conducts foundation courses, specialized courses and seminars in different areas of banking to take care of the professional needs. In addition, officers are regularly sent to Bangladesh Institute of Bank Management (BIBM) and Bangladesh Bank training Academy for professional training. Sending officers abroad for higher training is a regular feature. A Research Department also works in aid of HRD and other operational areas. The Academy has to its credit the experience of conducting several courses for the officers of the Bank of Maldives (BML) and Nepal-Bangladesh Bank Limited. In addition, it built up the training system for the Bank of Maldives Limited. The Academic activities: IFIC Bank Academy, established in 1983 as in- house training institution, takes care of the training need of the employees of the Bank. The objectives of the Academy are to: ? Make available skilled and dedicated workforce within shortest possible time by reducing time required for on-the-job training; ? Develop understanding about low and practice of banking through foundation training. Impart technical skill to the operational level officers through case studies/practical experience/demonstration/ project visit for efficient operations; ? Develop analytical & decision making skills of the officers; ? Develop understanding about human/conceptual skill and organizational cultures; ? Impart managerial skills to groom future Exec utives and to keep existing Executives up-to-date with national and international environment. Types of programs For fresher, Foundation Courses on elementary knowledge of banking are organized. Specialized Courses on the areas like Credit, Foreign Exchange, Accounts, Inspection, marketing etc. are meant for officials working in those areas. Senior level courses are run on specific knowledge area. Certain courses are a blend of different knowledge areas. In addition, certain priority programs are also being conducted by the Academy. These include program on Anti-Money Laundering, new skills required to perform new jobs. Approaches to Training: Training conducted by the Head Office: Head Office uses off-the job training namely Lectures, Conference, Workshop, Management Game, Role playing, Behavior Modeling and Case Study etc. Training conducted by the Branch: Branches use on-the job training namely job rotation, Coaching/ under study approach, direct supervision by the senior managers. The Academy holds need-based training courses/workshops/seminars etc. which are finalized by HRD Division in consultation with various departments and senior Executives at Head Office. Training inputs are constantly reviewed/modified for achieving the Bank’s objectives. Methods in training include: discussion/lecture/workshop/case study/games/role play/film show/simulation/group work & presentation /project visit and so on. On-the-job training Foundation courses have two parts: theoretical training in the Academy and job rotation. The officers on probation are requested to undergo both in a period of one year. During this period, three-phased training program is effective. On theoretical training in, say, General Banking the officers are required to undergo rotation in General banking activities under the supervision of the HRD. Similar process is followed in case of Credit & Foreign exchange. They report to the HRD weekly about the progress in rotation when problem-oriented discussion takes place for better understanding. Faculty The Academy has built up a pool of professional trainers within the Bank. In addition to permanent and professional trainers, speakers are drawn from operational side so that on-the-job experience may be exchanged and shared. Over and above, speakers from Central Bank, professional training institutions, universities, research organizations, and Govt. rganizations are also invited to share views and experience. Senior and retired bankers are also regularly invited to enhance effectiveness of training. Library The Academy has a good collection of books, journals, magazines. The books are mainly on subjects like Banking, Econom ics, Accounting, Management and Marketing etc. as on December, 2006 the library had 5,461 books/titles. The books are issued to the employees usually for one month. In 1988, the Academy undertook steps to build up Mini Libraries at all the branches outside Dhaka with a view to helping the employees with books and reading materials for updating and upgrading their knowledge. Branches are supplied with books /journals etc. for their Mini Libraries from time to time. (g) Performance appraisal The performance of the employees is measured by the immediate supervisors of the subordinates. The peace rate system is not applicable. The performance of the employees is not directly applied in the compensation system. It only helps in increasing the score of the Annual confidential report (ACR) to their supervisors. It helps the employees get promotion to the higher positions. Minimum two years is required for promotion of the employees. Two Methods of evaluation for promotion: 1. Annual confidential report (ACR) scored by the immediate supervisor 2. Interview marks. Both marks are added together to prepare list for promotion. Statistical Analysis indicates Average Job Satisfaction Of the employee (Mean) is 3. 37 out of 5. Standard Deviation is 0. 82 & Coefficient of Variation (CV) is 24. 33 %. (h) CPD For freshers, foundation Courses on elementary knowledge of banking are organized. Specialized Courses on the areas like Credit, Foreign Exchange, Accounts, Inspection, marketing etc. are meant for officials working in those areas. Senior level courses are run on specific knowledge area. Certain courses are a blend of different knowledge areas. In addition, certain priority programs are also being conducted by the Academy. These include program on Anti-Money Laundering, new skills required to perform new jobs. In this way the initiative for the new and young employees are conducted and their career path become smooth by taking this kind of training. (I) Findings ? IFIC bank Ltd. has capable workforce to compete with others. ? In Banks, specially in the senior position, experienced & educated employees are required. ? Remuneration is high in the bank. ? Most of the employees are satisfied in the bank. ? Working environment in the bank is healthy & fine. ? Employee welfare program has insurance facility, loan facility, provident fund transportation & house rent allowances, and gratuity etc. ? Interest rate is very low for the employees. Training methods: lectures, assigned reading, & job rotation are used & good. ? Employees are sincere. ? Employees have to remain vigilant all times & employees will be liable for their mistakes. ? Promotion depends on the performance & Annual Confidential Report (ACR) sc ored by the immediate supervisor plus interviews score. ? Bank job is very challenging and stressful, especially in the top- level position. ? Risk management is very difficult task in the bank. ? Sometimes, promotion is delayed because of certain reasons in the banks. ? Sometimes, Employers use nepotism and favoritism at the time of employment and promotion of the employees ? Marketing activities especially deposit target to open account is a difficult task. ? In the bank job, handling the borrowers is a very difficult task. When any borrower comes in the bank and does not get any loan from the bank due to legal requirement procedure of the bank, In this case customers may want to do undue influence to the bankers. They sometimes threaten the bankers for getting loan from the bank. ? Interpersonal relationships & communication are good. ? It is monotonous job. Especially employees have to reconcile the accounts: cash/clearing/transfer every day. ? Bankers sometimes have to work more than eight hours in a day without any remuneration. Music is played in the bank to remove monotonous working environment. ? Bonus is also paid on the basis of overall profitability of the banks ? Average Job satisfaction level is more than moderate i. e. , 3. 37 out of 5 (j) Pay scale Monthly compensation paid to the employees Total monthly compensation includes Basic salary; House rent allowances, Conveyance allowance, Medical allowance, Entertainment allowances, Telephone. |No. |Abbreviation |Elaboration |Total Monthly compensation in taka | |01 |MD |Managing Director |300000 Approx. |02 |SEVP |Senior executive vice president |73000 | |03 |EVP |Executive vice president |68000 | |04 |SVP |Senior vice president |62800 | |05 |EVP |Executive vice president |54350 | |06 |VP |Vice president |49150 | |07 |SAVP |Senior assistance vice president |36700 |08 |FAVP |First assistance vice president |33600 | |09 |AVP |Assistance vice president |31500 | |10 |SSO |Senior staff officer |23300 | |11 |SO |Staff officer |20600 | |12 |G-1 |Officer grade-1 |17900 | |13 |PO |Provisionary officer |12000 | |14 |G-2 |Officer grade-2 |9100 | |15 |CASH/COMP |Cash/Computer officer |7690 | |16 |OA(SG) |Office assistance(security guard) |7000 | |17 |O. ASSTT. Office assistance |6100 | |18 |DRIVER |Driver |5300 | |19 |SS |Security staff |4200 | |20 |O. ATT. |Office attendance |3850 | Source: IFIC Bank Ltd. Graphical chart [pic] Total monthly compensation of the employees Vertical lines represent TK amount and the horizontal lines represent the rank of employees. Here is the rank of the 20 employees & their salaries in taka. Rank can be known from the previous table, NO. -1 MD gets TK. 300000. 00 around & Rank No. – 20 Office Attendance gets TK. 3850. 00 total compensation. (k) LMR There is no trade union in the private commercial bank. But there is no dispute between the employees and the management. Comfortable family environment, comfortable job, satisfaction in work, high remuneration, good customer Service, good interpersonal relation, highly outside & inside personal relation development exist in the organization. Chapter 4 Conclusions and recommendations (a) Conclusions Banks play important role in the modern economy; Human Resources Management (HRM) issues play an important role in every organization and also in the banks. No organization can achieve its goals or can be good, until or unless it satisfies employees. Human Resources/ organizational members play the role of the crew who convert goals into the reality. In the banking sector, highly educated & strategic personnel are required to create a competitive position & to retain it for the long time. Training, principle of equality, job satisfaction, and career development are important in the bank. In the IFIC bank Ltd. The job satisfaction of the employees is more than moderate. Most of the employees are satisfied here. Bank is also satisfied with its employees. Bank’s salary structure is high but not highest in comparison with other commercial banks. Still comfortable working environment, good interpersonal relationship, and the benefits of the employees of the IFIC bank limited are also satisfactory. It has been operating since 1983 and it is a first generation private sector commercial bank in Bangladesh. It has retained its competitive position because of its performance and Employees have made the performance of the organization. Employee’s promotion & selection should be fair to get sincere, qualified, & dedicated employees. Its employee selection procedure should also remain free from nepotism, favoritism, and reference at all levels of management. Finally, the Bank must introduce modern banking system, adopt new technology, initiate new product, train its employees properly to do their job and keep employee satisfied. Bank’s performance is good for its satisfied employees. Bank is on the right track. Bank’s HRM policy is of course better, it has been able to satisfy its employees and customers as well. (b) Recommendations The authority of the IFIC Bank Limited should: Take initiative to motivate its employees to work more and to achieve its objectives. †¢ Take steps to remove stress and to manage stress in the job. †¢ Train its employees to manage the clients & to create a positive image about the bank †¢ Take steps to guard against undue loan sanctions. †¢ Protect bankers from the threat of the clients. †¢ Develop the practice sincerity and patience among the employees to handle difficulty in work. †¢ Take policy to cope with the problems of environment or technological change. †¢ Initiate highly automated system for the benefits of the clients & earning more profit and reputation as well. †¢ Provide overtime allowances for the employees for working more than eight hours. Provide timely promotion to create motivated and dedicated, employees and to increase the performance of the bank and employees as well. †¢ Eliminate nepotism and favoritism from the workplace. †¢ Increase the salary/allowance/incentives for its marketing activity to reach better position †¢ Introduce Career Counseling for its employees. †¢ Increase recreational facilities such as Picnic, Football match etc. †¢ Train properly the employees to handle risk management issues effectively & efficiently and †¢ Provide fast service delivery. (c) Suggestions The Branch Manager & VP has said about â€Å"Staff motivation by management. † AVP has said about â€Å"Better policy for the changing scenario and also adopt farther automation like on line banking. Others employees have said about promotion exercise must be done every year, to do what is good for the banking sectors, timely promotion, better customer service, to increase salary plus other benefits, to establish day care center, service delivery first, proper training the officers & staffs, and management should be careful about staff motivation. Appendix Department of Management Studies Faculty of Business Studies University of Dhaka Questionnaire about HRM issues of IFIC bank Ltd. Purpose of the Study: The purpose is to help a MBA student to prepare an report about HRM issues in the banking sector in Bangladesh in the light of the IFIC bank, Dhaka. 1. Name: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 2. Designation: †¦Ã¢â‚¬ ¦Ã¢ € ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3. Age: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4. Gender: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5. Duration of employment: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 6. Duration of employment in this bank: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7. Why do you choose job in the banking sector? a) High remuneration b) Easy job ) Comfortable environment d) Challenging job e) Other, please specify: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8. Why do you choose job this bank? a) Highly paid b) Easy to develop career c) Better performance d) Better HRM policy e) Other, please specify †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9. How do you feel about your job? a) Pleasant b) Unpleasant c) Indifferent 10. Your satisfaction level in the bank job: a) Very high b) high c) moderate d) Low e) very low 11. Most pleasurable thing in this bank job: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚ ¬ ¦Ã¢â‚¬ ¦.. 12. Your satisfaction level in the bank: a) Very high b) high c) moderate d) Low e) very low 13. Your relationship with your organization members: ) Very high b) high c) moderate d) Low e) very low 14. Most difficult things in the bank job: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 15. Most pleasurable thing in this branch: †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 16. Your satisfaction level in training: b) High c) moderate d) Low 17. Educational qualification (last): a) Lower than SSC b) SSC c) HSC d) Graduate e) postgraduate 18. Are you satisfied with the culture of this branch? a) Yes b) No c) indifferent 19. Are you satisfied with the HRM policy of the bank? a) Yes b) No c) indifferent 20. Your special suggestions to improve the bank or branch Bibliography 1) Werther, William B. nd Devis, Keith, Hu man Resource Management, 5th edition. 2) Griffin, Rikey W. , Management 5th edition. 3) Lesikar, Raymond V. and Pettit, john P. , Business Communication, 6th edition. 4) Academic calendar 2007, IFIC Bank Limited. 5) Different documents of the IFIC Bank Ltd. taken from Head Office & the Branch 6) Web site: www. ificbankbd. com. [pic] ———————– Plan for dealing with predicted shortfalls or over staffing Compare future demand and internal supply Forecast external supply Forecast internal supply Predict Demand Assess trend in: ? External labor market ? Current employees ? Future organizational plans ? General economic condition Name ID NO. (1) Md. Mosharref Hossain 36 (2) Saheli Nargis64 (3) Md. Rashedul Hasan78 (4) Zubaer Shoaib86 (5) Md. Naharul Islam92 Name [pic][? ] |67Y[cdoeaO? A?  ©s†¹s†¹s|f|WQHh? â€Å"h†¡9 ©CJh†¡9 ©CJh? â€Å"h†¡9 ©B*[? ]CJ,aJ phy+jhDpB*[? ]CJ,U[pic]aJ mHnHphyu[pic]hOj h†¡9 ©B*[? ]CJ2aJ4phyhX[pic]? h’duB* CJ4aJ4phâ‚ ¬Ã¢â€š ¬hX[pic]? h†¡9 ©B* CJ4aJ4phâ‚ ¬Ã¢â€š ¬hX[pic]? [email  protected]* CJ4aJ4phâ‚ ¬Ã¢â€š ¬hemUB* CJ4aJ4phâ‚ ¬Ã¢â€š ¬ho ©B* CJ4aJ4phâ‚ ¬h†¡9 ©CJh? â€Å"ho! nCJ-aJ h[? ]'GhU /5? CJ h#5? CJ jRoll no. Signature 1. Md. Mosharref Hossain36†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2. Saheli Nargis64†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3. Md. Rashedul Hasan78†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 4. Zubaer Shoaib86†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 5. Md. Naharul Islam 92†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦