Recession, House Prices, and Trade Surplus Assignment

Essays on Recession, House Prices, and Trade Surplus Assignment The paper "Recession, House Prices, and Trade Surplus" is a wonderful example of an assignment on macro and microeconomics.United States: PIMCO: Treasuries reflect the likelihood of a recessionSummaryPresently, the decline in United States treasury yields to a 60 year low which is characterized by failing monetary and fiscal policies. The decline in treasury yields is a sure sign of an impending recession. On 18th August 2011, the yield on the benchmark 10yr US Treasury note plunged below the 2 percent mark to settle at 1.98% to dismally rise on 19th to approximately 2.08% (Reuters News 2011).IssuesWith the rising pressure to pay up debts and running out of monetary and fiscal policy options, the United States, the world biggest economy is on the verge of an economic and financial meltdown which will not only translates to economic stagnation but increase the prices on consumer goods and influence the value of the dollar, which is an international currency. The decline in treasury yi elds is an illustration of an incoming economic and financial depression and the outcomes of lowering inflation as a means revive an economy. According to Bloomberg News, (2011), the move by the Standard Poor to cut the US government credit rating to AA+ did not help matters much as it resulted in investors pulling out their stocks seeking liquidity and prefer conventional safe-haven assets as echoed by Wall Street Journal, (2011).The decline has generated a significant exit from the risk markets which demonstrate the panic investors have on the possibility of a recession and the increased loss of trust in any policies. According to the Telegraph, the impending recession is a result of the failure of policymakers in the US and in Europe decisively containing the sovereign crisis (Telegraph 2011).ImplicationsThe US needs to make quick decisive measures to not only protect its own population but also, develop effective fiscal policies to safeguard against potential recession and boos t investor confidence. The worrying trend in the US coupled with the turmoil in Europe raises concerns about the future course of global growth weighing down on stocks and assets, which are easily impacted by changes in growth.The panic generated by falling Treasury yields has the potential to make consumers refuse to buy or investors to invest, and increased risks in a rise in the level of unemployment, massive corporate losses, and stagnant global growth. Market to market hit in China and other Asian countries is expected since countries such as China holds 26% of overall US treasury holdings as indicated by (Wall Street Journal 2011).China: China house prices raise fears of more tighteningThe Telegraph, Published 18th AUG 2011SummaryHouse prices have been on the rise in China in spite of the rigorous attempts and interventions by the Chinese government to cool the market. The rise in house prices in China put the country, which is the second-largest economy at risk of a bursting property bubble.

Internship Report(Hr Development) Free Essays

string(168) " me with different tools and mechanism that is practiced in different profitable and non-profitable organizations through out the world in a social responsible manner\." â€Å"HUMAN RESOURCE MANAGEMENT PRACTICE† A study on Mithun Knitting And Dyeing Ltd, CEPZ, Chittagong [This internship report is submitted for the partial fulfillment of the degree of Bachelor of Business Administration (BBA) with major in HRM] Prepared by: Md. Nazrul Islam Khan Matric No: B063061 BBA (Major in HRM) Autumn-2010 Department of Business Administration Supervised by: Mr . Nazamul Hoque Assistant Professor Department of Business Administration Internship Duration: 30th march’11- 30th June ’11 Date of Submission: 9th June’ 2011 Signature of the Supervisor Department of Business Administration Faculty of Business Studies International Islamic University Chittagong Date: 9th June ’2011 To The Head Department of Business Administration International Islamic University Chittagong Sub: Submission of internship report Dear Sir, With due respect and humble submission to state that I’m a student of BBA, Major in HRM, in your faculty . We will write a custom essay sample on Internship Report(Hr Development) or any similar topic only for you Order Now I have successfully completed my internship in Mithun Knitting and Dyeing Limited, on Human Resource Practice. I tried my level best to cover the report with relevant information that I have collected during three month internship period. Garments officials have also cooperate to make this happen. During this time they shard their knowledge and to me to know about various Garments activities. I beg your kind excuse for the error that may take place in the report in spite of my best effort. I believe that you would be kind enough to accept this report and evaluate with your sagacious judgment. Sincerely yours MD. NAZRUL ISLAM KHAN Matric No: B063061 BBA (Major in HRM) Autumn-2010 Department of Business Administration International Islamic University Chittagong Acknowledgement: First I would like to thank to almighty Allah for giving me the patience, courage, assiduous and expansion of mantel faculty to prepare this report. It is an immense pleasure to me that this report is the out come of my dedicated effort to prepare a standard report and know in details about the HUMAN RESOURCE PRACTICE in Mithun Knitting and Dyeing Ltd. At the very outset, I would like to take this opportunity to express my honorable supervisor Mr. Nazamul Hoque, department of Business Administration , IIUC, for his valuable suggestion and cooperation. I also like to thank my coordinator of my BBA program. I would like to thank Mr. Bashir Ahmed (Manager, Admin) and Mr. Abdus Sobhan(Sr. Officer,admin compliance), for their continuous support ,inspiration and giving me uncountable support to prepare this report . Without their help, its not possible to me complete this report. I also very much pleased to Mr. MD. Showkat Hossain(Asstt. Manager,Commercial) of MKD, to giving me the chance to start my internship in MKD. My sincere thanks go to the others who were involved and helped me directly and indirectly in preprinting this report as well as my faculties, IIUC. Executive Summary: Human Resource Management is one of the major fields of the study in today’s business world. Human Resource Management means â€Å"To care for people or look after people, to manage affairs†. Its simple meaning is â€Å"Management of affairs and looking after people† HRM is a process, common to all group, effort public or private, civil or military, large scale or small scale. It is a process of managing effectively and smoothly the functioning of institute governed by its rules and regulations. The main motto of preparing this report is to know the details of HR practice in MKD. All of you know that HR is a social science and talk of time in today’s world. HR play pivotal role in smooth operation of organization. British Institute of HRM defines HR as that part of management concern with people at work and with their relationship within an enterprise. HR Department does an important role in MKD ltd. Through this report I will understand about my practical experience in HR practice in MKD ltd. I also make you understand about brief idea of MKD ltd. They practice HR for employee selection, increment policy, auditing, training program, about the whole thing of HR practice in MKD ltd. And also add recommendation and conclusion. Table of Contents Chapter: 1 1. 0| Background of the study| 1. 1| Introduction| 1. 2| Objectives of the study| . 3| Methodology of the study| 1. 4| Scope of the study| 1. 5| Limitation of the study| Chapter: 2 2. 0| About MKD Ltd. | 2. 1| A brief company profile| 2. 2| Production facility | 2. 3| Major products| 2. 4| Business procedure| 2. 5| Group profile | 2. 6| Vision| 2. 7| Values | 2. 8| Objectives| 2. 9| MKD performing following buyers| Chapter: 3 3. 0| Organogram of MKD department| 3. 1| Various department| Chapter: 4 4. 0| Meaning of HRM| 4. 1| Function of HRM| 4. 2| HRM practice in MKD Ltd. | 4. 3| Recruitment policy in MKD Ltd. | 4. | Employee selection of MKD| 4. 5| Selection process| 4. 6| Selection policy| 4. 7| Training Development| 4. 8| Training for| 4. 9| Benefit of training| 4. 10| Training method| 4. 11| Training place, duration trainer| 4. 12| Training evaluation| 4. 13| Training program | 4. 14| Compensation| 4. 15| Some other compensation for| 4. 16| Payment of wages | 4. 17| Worker not entitled to compensation| 4. 18| Performance appraisal| 4. 19| Who will be apprised| 4. 20| Methods of performance appraisal | Chapter: 5 5. | Findings| 5. 1| Recommendations| 5. 2| Conclusion| 5. 3| Reference| Appendix: Chapter-1 * Introduction of the study * Objectives of the study * Methodology of the study * Scope of the study * Limitation of the study 1. 0 Background of the study: INTRODUCTION: Knowledge acquisition is the foremost duti es of a student, knowledge can be gained through a process of stages such as reading, writing, visual, touching and doing it practically. As a part of my BBA program, internship is required for the course. Internship program blends practical knowledge with the theoretical thought. Undoubtedly this is the very inception period of any individual career. As a part of requirement, I did my internship at Mithun Knitting Dyeing Ltd. ,on HRM for three months, which equipped me with different tools and mechanism that is practiced in different profitable and non-profitable organizations through out the world in a social responsible manner. You read "Internship Report(Hr Development)" in category "Essay examples" The internship program not only creates opportunity for the student to acquire first hand information on a giving subject but also wide field of information and knowledge for them. I am assigned the internship program with the aim of practical knowledge on HR Practice in MKDL. 1. . Objectives of the study: It is important to know about the objectives of MKDL. Every activity has some specific objectives. The main and foremost objectives of the study are to know in details activities of HR practice in MKDL. The other objectives are as follows: 1. To acquire prac tical knowledge and experience on HRM practice in MKDL. 2. To find out the existing HRM activities on MKDL, CEPZ, Ctg. 3. To know the industrial relation between employers, employees, workers, trade union and Government (BEPZA). 4. To identify the problems relating to HRM in MKDL. 5. To provide suggestions to overcome the limitations of HRM in MKDL. . 3. Methodology of the study: The current study has been conducted through collecting data from primary as well as secondary sources. The sources are interview with the management and employees. Organization’s service rules, policies, procedure and records. * Primary data: Primary data have been collected by observation of MKDL human resource department. Discussion with the officials and resource professionals at this organization. * Secondary data: Secondary data have been collected from the available and relevant magazine, journals, reference book and visit MKDL website. 1. 4 Scope of the study: This study is confined with MKDL only. I have prepared my report on the basis of gathered knowledge, experience and performed during my internship report. I have made all possible efforts to submit this report. I tried my level best to collect data from the MKDL HR department. I have a practical knowledge about EPZ sector and also to know how all company in this area make a vital role in Bangladesh. 1. 5 Limitation of the study: Every activities of the world have some limitation. I face some limitation to complete my internship program. Some are given below: 1. I have no previous experience to conduct the research work. . Some information is so confidential that the authority is not allowed to provide this information. 3. Due to the strategic decision some crucial information is not possible to collect. 4. I start my internship program lately so, its not possible to me arrange a best internship report. 5. Garments and Footwear organization are a wide part of out economy but there is no information available in our newspaper or other media. It is the biggest limitation for data collection. Chapter- 2 * About MKDL * A brief company profile * Production facility * Major product * Business procedure * Group profile Sister concern * Vision * Values objectives * MKDL’s buyer list 2. 0 About Mithun Knitting and Dyeing Ltd: MKDL getting to be one of the best and diversified business groups in Bangladesh. They are still continuing on the journey of growth, diversity and achievement our growth has been one of the most significant in each area of operation. This made possible by the strong drive of the management and continuous dedication hard work of the rest of their team. MKDL total workers are 629; the HR department facilities these workers. Moreover for their contribution the economy of our country is running. . 1 Company Profile Name: Mithun Knitting and Dyeing Limited Year of Incorporation: 1991 Year of Business Commencement: 1991 Commercial Operation: Septe mber: 1993 Legal Form of the Company: Public Limited Company Corporate Office: Sena kalian Bhaban Suite No. 904, 9th Floor 195, Motijheel C/A, Dhaka-1000, Bangladesh Tel: 880-2-9551918,9551890 Fax: 880-2-9564929,9553880 E-mail: toyobang@bangla. net Location of Factory: Plot No. 43-46, Sector-4, Chittagong Export Processing Zone South Halishahar Chittagong-4223, Bangladesh Tel: 800-31-741281,740220 Fax: 880-31-740427 E-mail: mithun@colbd. net Business: Circular knitting, dyeing, finishing and knit Garments Product Range: Fabrics Single Jersey, Interlock, Rib, French Terry, Flat knit (collar cuff) Fleece Product range: Garments T-shirt, polo shirt, ladies tops, ladies singlet, fleece jacket, sweat shirt, pajama, tank top Capacity: Knitting-13500 kg/ day, Dyeing-white-12375 kg, color-10740 kg/day Garments-basic T-shirt-10000 pc/day, polo shirt-5000 pc/day Authorized capital Tk. 100000000 Paid up capital Tk. 50000000 No. of Employment Skilled-224, Officer-16, Stuff-75, Samiskilled-314, Total=629 Origin of machinery USA, Germany, ITALY, Sweden, England, Korea, Japan, China, Taiwan, Singapore, Hong Kong, India, Bangladesh 2. 2 Production Facility: * Knitting section * Dyeing section * * Finishing section * Fleece section * Garments Section 2. 3. major products: * Polo shirt * T-shirt * Fleece jacket * Pajama 2. 4 Business PROCEDURE: * Order Execution : * Lead time: 90 days for new orders and 60 days for repeat order. * Production process time: 14 from the date of receipt of materials. * Mode of Payment: * LC at sight with FOB basis. * CMT basis, payment by TT * Documentation: FOR LC: Original documents to be sent through Bank to Bank as per LC. * FOR CMT: * OPTION-1: original documents to be sent through bank to bank to bank and consignee of BL will be any Bangladeshi bank. * Option-2: If need to send original documents directly with customer as consignee in BL, need to make payments in advance. 2. 5 Group Profile Mithun Knitting and Dyeing Limited is the parents company of th eir group. The other sister companies of the group are as follows: 2. 5. 1 Sister Concern * Toyo Composite Ltd. Established in 1991 * Pure Cotton Knit Ltd. Established in 1991 * Bangos Biscuits Ltd. Established in 1991 Tallu Spinning Mill Ltd. Established in 1990 * Mithun Knitting and Dyeing Ltd. Established in 1991 * Radio Today FM. Established IN 2006 2. 6 MKDL Vision: To be: * Best quality and right time shipment of the products * The most cost effective procedure of quality products and its item * The best example of an international export oriented company in Bangladesh. 2. 7 MKDL Values: * Team player * Excellence * Responsible * Appreciation * Living * Caring 2. 8 MKDL Objectives: * 100% Safety Record * 100% Delivery on Time * 100% Quality Fine Time * 100% Commitment * 100% Utilization of Resources . 9 MKDL performs the following buyers: * Crocodile * Carrefour,Zara * Dullards * GAP, Sears * Zellards * Otto * Auchan * Carriefore * Neckerman/ Ackerman * Peacock * Answer Mode GMBH * QUESTION Fashion BV * Reebok MKDL maximum buyer is from UK, Germany and Europe side. CHAPTER – Three Department of Mithun Knitting and Dyeing Limited * Organogram of MKDL * Various Department of MKDL | Various Departments member in position:| SL. #| NAME| DESIGNATION| 1| MR. BASHIR AHMED| Manager (Admin)| | Mr. Md. Nurul Islam| Asstt. Manager (A/c’s)| 3| Mr. Moin Uddin ahmed| Asstt. Manager(Knitting)| 4| Mr. Md. Showkat Hossain| Asstt. Manager(Commercial)| 5| Mr. Probir Ranjan Dey| Asstt. Manager(Dyeing)| 6| Mr. Jahangir Alam| Asstt. Manager(Mercendiser)| 7| Mr. Jahangir Alam| Sr. Asstt. Engineer)| 8| Mr. Abdus Sobhan| Sr. Officer(Admin; Compliance)| 9| Mr. Shahidul Islam | Sr. Marketting Executive| 10| Mr. Md. Shafiul Azam| Accounts Officer| 11| Mr. Md. Shah Alam| Development ; Security Officer| 12| Mr. Shahidul Alam | Officer(MIS)| 13| Mr. Seddiqur Rahaman| Sub. Asst. Engineer| 14| Mr. Maksud Ali Mridha| Jr. Store Officer| 15| Mr. Keramat| Jr. Production Officer| 16| Mrs. Sultana Karemunneesa| Jr. Officer(DATA COLOR)| 17| Mr. Harun-Or-Rashid| Jr. Officer(Store)| 18| Mr. syed Mizanur Rahaman| Jr. Production Oficer (Dyeing)| 19| Mr. Boadrul Islam| Jr. Production Officer(Knitting)| 20| Mr. Shamim Chowdhury| Jr. Officer(Welfare ; Complaince)| 21| Mr. Gias Uddin| Jr. Officer(Garments)| 22| Mr. Md. Mahafizul Hoque| Jr. Executive (Marketing)| Chapter – Four HRM as practiced in MKDL * Meaning of HRM * Function of HRM * HRM practice in MKDL * Employee selection * Selection process * Selection policy Training ; Development * Training for * Benefit of training * Training method * Training place, duration ; trainer * Training evaluation * Training program are * Compensation * Some other compensation for * Payment of wages * Worker not entitled to compensation * Performance appraisal * Who will be apprised? * Method of performance appraisal 4. 0 Meaning of HRM: â€Å"MA NAGEMENT of human resources is the function of all enterprises which provide for effective utilization of people to achieve both the objective of the enterprises and the satisfaction and development of the employees† (Glueck, Management). Allah the almighty has endowed human beings with the power inherent in them which if nursed, nurtured, cultivated, developed and sharpened can unveil the secrets of nature. Human beings become human resource when their skills and abilities developed to undertake some productive activities that are useful to them and to their society. 4. 1 Function of HRM: 1. ACQUISATION: * Human resource planning * Recruitment * Internal * external * Employee socialization 2. DEVELOPMENT: * Employee training * Management development * Career development 3. MOTIVATION: Job * performance evaluation * rewards * job evaluation * compensation benefit * discipline 4. MAINTENANCE: * Safety and health * Employee / lab or relationship 4. 2 HRM practice in MKDL Organization has big impact upon its human resources development and managerial activities. Organization structure influences personal activities within the department as well as relation with others whom it is to serve. That is way MKDL also practices in HRM. Human Resource Department maintains some policy. That also followed by the employee, employed and worker. The policy aims are: Achieving, the main objective of the organization, creating committed employees, developing trained personal, recognizing trade unions as representative of worker, consultative service to employees, delegation of authority, co-operation to and from employees, security of employment, opportunity for growth, fair wages and salary, objective evaluation of work. MKDL played a vital role in society. MKDL have HR department since 1993. Because it is an export oriented organization. HR department maintain policy and they work for the whole organization, as well as for the worker mainly. HRM Practice in MKDL some kinds are given below: * Recruitment policy * Selection * Training and Development * Compensation * Performance Appraisal 4. 3 Recruitment Policy in MKDL: RECRUITMENT is a linking function joining those with jobs to fill and those seeking job. The objective of MKDL recruitment policy is to develop a group of potential qualified people. The recruitment processes attracts qualified applicants and provide enough information for all kind of employees. Hiring the right employee is a challenging process. Hiring the wrong employee is expensive, costly to work environment, and time consuming. Hiring the right employee, on the other hand, pays back in employee productivity, a successful employment relationship, and a positive impact on total work environment. There are six kinds of employees or workers: 1) â€Å"Permanent employees† is an employee who has been engaged on permanent basis after complete of his/her training. 2) â€Å"Temporary employees† is an employee who has been for work that is temporary basis. The electrical engineer is MKDL temporary employees. 3) â€Å"Probationer† is an employee who is provisionally engaged to fill a permanent vacancy in a post and has not completed the period of his / her privations. ) â€Å"Employee on contract† is a person with who employed on contract basis. The auditors of MKDL are contract basis. 5) â€Å"Apprentice† means a learner that paid an allowance or fixed pay during the period of his/her training. 6) â€Å"Casual† means a worker whose employment in casual basis. 4. 3. 1 MKDL Rec ruitment Sources: There are two sources of recruitment . These are internal and external sources of recruitment. MKDL mainly follows the external sources for recruitment. One main thing is that MKDL is a public Ltd company. Then the recruitment policy is given below: * Advertisement on newspaper Hang on notice in front of MKDL main gate * Internet ads in there website. 4. 3. 2 Personal File: MKDL maintains a personal file for their worker that is part of recruitment policy. In a personal file each worker some record are their. This are: * Application * Picture * Age certificate * Medical certificate * National certificate * Educational certificate * Appointment letter * Confirmation letter * Increment paper * Any disciplinary letter 4. 4 Employee Selection of MKDL: To select is to choose selection is a screening process. It is the process of picking who have relevant qualification to fill jobs in an organization. MKDL selection objective is to select the right candidate who is physically fit, intelligent and done their job perfectly. 4. 5 Selection Process: There is some process to select employees and worker. MKDL follow these procedures to select best employees to their company for a better output. The process are given below which is follows by MKDL. 4. 5. 1 Reception of Applicant. 4. 5. 2 Preliminary Interview. 4. 5. 3 â€Å"Filling an Application Blank† which provide brief history of an applicant’s background. 4. 5. 4 Employment Test: MKDL follows some procedure to select their employees. Their selection procedure test is reliable and valid. Tests aimed at predicting future success on their job. Verities of test usually used as selection tools. * Intelligent tests * Aptitude tests * Achievement tests * Interest tests * Personality tests For the types of employee or worker HRM department of MKDL choose the one of test. 4. 5. 5 Interview: MKDL is a garments company they have worker for factory and employees for several department. To select worker and employees it is different from each other. There are six kinds of employees. For that reason, they follow different types of interviews. Types of interviews: * Non – directive interview * Patterned interview * Situational interview * Panel interview Interviews process: HR department of MKDL have identified certain steps while conducting interviews. * Preparation: selecting the interview process to followed. HR department expertise arranges and selects the employees. * Reception: The interview started on time. * Information exchange: Applicant’s must know what they are applying for and they have to know the idea about it. * Termination: Interviewer’s personal opinions and applicant’s performance basis HR department select the employees. Evaluation: After the interview process HR department select the candidate for next process. 4. 5. 6. Background of Reference checks: Good reference check, when used sincerely will fetch useful and reliable information about the candidate. 4. 5. 7. Preliminary selection in HR department: HR department select the employee or worker. 4. 5. 8. Physical examinati on: All applicants’ must a medical certificate in MKDL HR department. 4. 5. 9 Placement: Then the following departments select the employee or worker and they should place. 4. 6 Selection policy: In the selection policy, an applicant must have some education qualification. For worker: Workers must be pass min. class eight. For employees: They must be complete their graduation. In addition, for higher level applicant must complete masters’ degree. 4. 7. Training and Development: Training and Development has been always an essential part of human life, particularly in working environment. Workers performs better if they are training in the skills necessary for thir jobs, and managers are better leaders if they are trained up with these skills. 4. 7. 1 Why training is essential in MKDL: Training is essential in MKDL for improve their quality, increase production and improve organizational climate. Because MKDL’s main theme is produce high quality product. For that reason whole organization employees needs training and develop their skill. It important for: * Economy in operation * Minimization of supervision * Better performance * Increase in morale * Uniformity in performance * Effective control 4. 7. 2. Reason for employee training and development: Training and development can be initiated for a variety reasons an employee or a group of people: * When a performance appraisal indicates performance improvement is needed. * To benchmark the status of improvement so far in performance improvement effort. As part succession planning to help an employee be eligible for a planned change in role in the organization. * To train about a specific topic. * As part of an overall professional department program. * The operation of a new performance management system. 4. 8 Training For: MKDL has been arranging some kind of training: For worker: * Behavioral training * Technical trai ning For official: To get more efficient officer MKDL arrange some training which a part of their job. Some training fir the technical officer specially arranged. 4. 9. Benefit of training and development: * Increase job satisfaction and morale among employee. Increase employee motivation. * Increase efficiencies in processes, resulting in financial gain. * Increase capacity to adopt new technologies and methods. * Reduce employee turn over. * Enhanced company image e. g. conducting ethics training. * Risk management e. g. training about sexsul harassment, diversity training. 4. 10 Training method at MKDL: MKDL provides two types of training that is on the job training and off the job training. The best technique for one situation may not suitable to other situation. ON THE JOB TRAINING Employee or worker coached and instructed by skilled co-worker. By supervisor, by the special training instructor. MKDL also provides various types of on the job training these are coaching or understudy, job rotation or special assignment. Coaching: Coaching method, which also known as internship and apprenticeship method, the employees/ worker is, trained on the job by his/her immediate supervisor. Apprenticeship: In MKDL the person who appointed under apprenticeship, they supervised through their supervisor and they have three months for apprentice period after successful completion of apprenticeship period they appointed as a regular employee/ worker. Job trainee: A management or HR department selects a trainee who moved from job to job at certain intervals. Specials assignment: MKDL provides lower level executives with first hand experience in working an actual problem. Off the job training: Off the job training means that training is not part of the everyday job activity. In MKDL training program, do not arrange by them. BEPZA selected one officer for training and it arrange in outside from the organization. Off the job method following that method. Lecture: It is an old method. Selected expertise gives some lecture to the trainees Conference: Participant gain knowledge and understanding by attending these conferences. Group discussion: Group discussion exchange of ideas and opinions take place which help the participants to develop leadership qualities. Case studies: The case based on actual business situation are prepared and given to the trainee managers for discussion and arriving ata proper discussion. Role playing: The trainer use this method for develop the employer human relation and development of leadership qualities. 4. 11. Training place, Duration and Trainer: Place: MKDL only arrange training program for their worker and the apprentice. BEPZA select the place for the training program. Duration: The training program depends on training objectives. Sometimes for long time or some time for short time. For the apprentices training program arrange for three months. Trainer: For the worker and new employee’s trainer are the upper levels of the worker. However, off the job training, trainers are outside if the organization. 4. 12. Training Evaluation in MKDL: Training evaluation model starts with training need assessment it means that what kind of training are essential for smooth operation of the company. MKDL evaluates TNA by the process of employee or the worker working condition or it called yearly secrete report. 4. 13. Training Program are: * Personal proactive equipment: * First aid * Fair training or dealer * Health and safety * Awareness safety about toxic hazard * Awareness aids 4. 14. Compensation: MKDL compensation systems policies are given below: Gradation of workers| Minimum wages| Remarks| i. Apprentice | US $20(consolidated)| Training for 3 months; may be extended for another 3 months in the maximum. | ii. HELPER| a) US $30 b) US $25| ON completion of training, a works becomes permanent unless terminated during the training period. | iii. Junior operator(Jr. )| a) US $36 b) US $30| A helper, when allowed to operate a. m. chain, shall be deemed to have been upgraded as a Jr. operator. | iv. OPERATOR| a) US $45 b) US $40| A Jr. operator shall be promoted as an operator on completion of 2 years service as such. | v. Sr. operator | a) US $50 b) US $45| An operator having served of 2 years as such shall upgrade as Sr. operator. | vi. High skilled| a) US $58| On completion of 2 years service as a Sr. perator,a worker shall be eligible for promotion as high skilled worker but subject to attaining required skill. | 4. 15. Some other compensation for: * Maternity benefit: A female employee who has completed minimum of six month service shall be entitled on application to maternity leave with pay for eight weeks after confinement on ground maternity. No female worker is entitled to such kinds of maternity benefit if she has two or more children. * Festival leave: Every employee allowed at least eleven days festival holiday with pay in a calendar year. * Compensation for injury sustain while on duty. Every worker shall be entitled to casual leave with full wages for ten days in a year. * Every worker shall be entitled to fourteen days sick leave on half average wages in a year. 4. 16. Payment of wages: * For employee paid on monthly basis , salary paid within the 7 days of the month. * For employee paid on weekly basis, wages by the first working days of the work. * For terminal employees, termination benefit and any other dues payable to the terminated employee paid within 7 days from the date of termination. * Overtime wages: Overtime wages given MKDL by this method: Basic salary *2*OT Hours/208 * Provident fund: The provident fund given by this method: Basic salary *8033% 4. 17. Worker not entitled to compensation in certain cases: * If worker does not present himself for work at the appointed time during normal working hours at least once a day if so require by the employer or lay-off is due to unauthorized absence from work by workers in another part of the employer. * If worker refuse to accept on the same wages. 4. 18. Performance appraisal: Performance is something a single person does. This differentiates it from more encompassing constructs such as organizational performance or national performance which are higher level variables. Job performance is a commonly use, yet poorly defined conceot in industrial and organizational psychology, the branch of psychology that deals with the workplace. It most commonly refers to whether a person performs their job well. Despite the confusion over how it should be exactly defined, performance is an extremely important criterion that relates to organizational outcomes and success. Among the most commonly accepted theories of job performance. 4. 18. 1. Why performance appraisal is important in MKDL: * PERFORMANCE APPRASIAL can serve as a useful basis for promotion or reward. It serves as a guide for formulating a effective training and development program. * Managers can identify employees who are performing at or above expected level. Then it may help to increase competition. * It identifies the employee’s good or poor performance. * It helps to understand that in which way employer improve their performance. 4. 19. Who will be appraise: * Self – appraise also included, it help to improve employees confidance level to work efficiently. * For worker their performance appraise by supervisor. * Consultant or the auditor appraises whole organization. 4. 20. Methods of performance appraisal: PERFORMANCE appraisal methods are available for judging the performance of the employees. In MKDL performance appraise by upper level of an employee. The method is called the confidential report or yearly secret report. And performance appraise by behaviorally anchored rating scale (BARS) CHAPTER- FIVE * Findings * Recommendations * Conclusion * References 5. 0 Findings: Due to my internship program I got some findings. Such as: 1. In MKDL both internal and external sources of recruitment are followed. 2. For workers, external sources of recruitment are followed. 3. For officers internal sources of recruitment are followed. . Immediate supervisor provide training to the workers in MKDL. 5. In selecting workers normally previous experience is highly considered. 6. Performance is evaluating by the boss/supervisor and it is done annually. 7. The relation is good between employers, employees, worker, trade union (WRWC) and (BEPZA). . 8. The have no internal auditor. In MKDL HR department so the have to face problem to audit their report. 9. Supervisor are not more efficient that’s why the can’t supervise the worker properly. 10. The company does not pay the salary in due time, trough there is no problem to pay it timely. 1. The salary structure is below standard in some cases. The salary structure is insufficient comparing with present economic situation. 12. MKDL does not provide any transport facilities to their worker. Which is very necessary. 13. The maintain safety and healthy environment for their employees. 14. They arrange on the job training for their employees. 5. 0. Recommendations: For smooth operation of HR department the following task must be completed as soon as possible. 1. MKDL should provide the salary in due time because it helps the employee to give more concentration to the organization. . They should increase the involvement of employee in designing the training program. 3. Fire training and other injury training should be provi ding to the new workers. 4. Supervisor have to more effective because the motivate worker to do their jobs better. 5. Training should be evaluated properly. 6. HR department should recruit an internal auditor. 7. Company HR department should be free from any types of biasness especially on recruitment and selection process. 8. Salary structure should be updated and matched with the market situation.. 9. Company’s HR department should arrange more effective training program in order to increase the employee’s ideas and creative power. 10. The organization provides conveyance bill but when the work late night, they fall in trouble for the transportation. 11. More and more business professional should be appointed in training and development department and it should be off the job. 5. 2. Conclusion: Human Resource Department measures the organization strength in every respect. This aspect must from part of the organization strategic and administrative thinking. Effort should constantly be made to improve the organization productive capacity. Human Resource is a key factor to consider in organizational development and must emphasized in responding the micro and macro environment changes of Bangladesh. MKDL played a challenging role in Bangladesh. Because MKDL REPRESENTIATIVE OF Bangladesh. For their contribution, our country economic growth increases. Our population directly benefited through the operation of the organization. MKDL and their sister’s company engaged to increase our economic growth. Bangladesh government should provide necessary opportunity for EPZ sector so that it can operate smoothly. . 3 References: 1. Profile of MKDL 2. Many official report of MKDL 3. Different officials and workers working area in MKDL 4. Web site of MKDL 5. Human Resource Management and Industrial Relation By Dr. Abdul Awal Khan Dr. Md. Abu Taher Appendix : Questionnaire for Management Staff: (Give the answer into the tick mark () in the appropriate place) Officer name: Age: Department: Post Name: 1. Does your organization practice HR development? Yes No 2. Does HR department give extra priority to their employee? Yes No 3. Are you getting any extra allowance for training? Yes No 4. Do you get any facility (Lunch or Tiffin) during your office time? Yes No 5. Is your organization getting any suggestion from you if they needed any strategic decision? Yes No 6. In department of HR training and development officers are available? Yes No 7. Do you face any problem when HR department need some improvement for their worker? Yes No 8. What is the time duration of training? 3 month 6 month 1 year Questionnaire for Worker: (Give the answer into the tick mark () in the appropriate place) Worker name: Age: Department: Post Name: 1. Do you get facility from HR department? Yes No 2. Do you use any personal protective equipment? Yes No 3. Do you get personal equipment from your organization? Yes No 4. Do you get train about fire drill training? Yes No 5. After training program has your performance ability increased? Yes No 6. Are you get OT and provident fund amount from your organization? Yes No 7. Are you satisfied on your increment amount? Yes No 8. Who get the more priority for training program in your organization? Technical person Non Technical person MITHUN KNITTING AND DYEING LIMITED Annual Confidential Report (Officer) PART-1 (To be filled by concern employee) NAME (IN CAPITAL LETTER): Designation: Department: Date of birth: Age: Qualification: Joining date: Salary while joining: Last increment: Present salary: a) Basic salary: TK. Pay scale: b) House rent allowance: TK c)Conveyance allowance:TK d) Medical allowance: TK e) Other allowance TK TOTAL PART-2 TOTAL POINTS: 100 POINT SCORED: EXCELLENT: 91-100 AVARAGE: 51-70 GOOD: 71-90 BELOW AVERAGE: 00-50 GRADE: Assessment of Dept. Head Signature with date: Name Designation: PART-3 (To filled by approving authority) Remark/ General/ Assessment: Approval:- Signature with date: Signature with date: Name: Name: Designation: Designation: How to cite Internship Report(Hr Development), Essay examples

Impact of Employee Performance on Customer Retention †Free Samples

Question: Discuss about the Impact of Employee Performance on Customer Retention. Answer: Introduction In this modern service industry, consumer satisfaction and retention serves as a major factor related with the success of the company. This is for the reason that most of the employers rely on employees for offering quality service (Glaser Strauss, 1967). Employee relations are deemed as customary of company functions along with practices that deals with the issues associated with human resource like recompose and retirement. Research methodology employed in this research focussed on gathering relevant information in order to make effective business decisions (Lewis, 2015). This also includes theoretical evaluation of principles and methods related with the research on impact of employee performance on consumer retention. The objective of this paper is to explain the research methodology of carrying out study on impact of employee performance on consumer retention. The research method section will explain the methodology, sample and sampling technique, research population, data coll ection, data analysis, ethical consideration and limitation associated with completion of the research. Research Methods: Research Methodology Qualitative research methodology has been selected in investigating the impact of employee performance on consumer retention. This methodology is observed to be useful for the reason that it offers vital information on the inclination subject of human perception concerning specific research data (Lincoln Guba, 1985). This research methodology is deemed to employ non statistical research techniques that employ inductive logic for evaluating yield corrections which is complex to translate. Qualitative research method is deemed to be suitable in this research as the investigation will employ thematic evaluation. Data collected was evaluated by themes and it is deemed that increasingly inductive themes are gathered from the data. Qualitative data methodology with the thematic analysis is focussed on gathering data through understanding them. The major objective of this research methodology is to develop major themes which explain the importance of the research. This research method is e mployed in this research for the reason that the researcher was focussed on understanding along with investigating social situations by means of developing descriptions from the on-site interviews along with observations (Neuman Robson, 2014). Moreover, this method is deemed to be suitable in this investigation as the researcher was able to offer detailed accounts and elaborations of socio-cultural process that does not require being explained quantitatively. Population, Sampling Technique and Sample Sampling can be understood as a process within which the target respondent for the research is selected from a larger population. Sampling facilitates the researcher in selecting the most vital source of primary data for gathering important information that is aligned with the aim and objectives of the research. Simple random sampling has been employed in carrying out an interview process with the supervisor (Patton, 2002). This sampling method was employed in the research for the reason that it offers equal opportunity to the respondent of getting selected in the study. For this reason, qualitative data was evaluated through use of this sampling technique. The population size is selected in investigating impact of employee performance on retention of consumers in the selected hotel. Only one supervisor was selected for this research and considering this it can be stated that sample size selected for this research is 1. Determination of suitable type and number of participation is vi tal in gathering suitable research findings. This target population has been selected through deciding the number of participants within a sample (Sekaran Bougie, 2016). Along with deciding the anticipated number of people within the target population, the selection of sample size was influenced from considering certain vital aspects such as time available, budget along with target precision degree. Data Collection Data collection process in investigating the impact of employee performance on consumer retention wills both primary that is through interview and secondary. Secondary data for the research will be gathered that certain secondary sources such as journals, books and websites in order to realise properly the speculative situations along with historic representation (Silverman, 2016). Such gathered secondary data was useful in evaluating the recent trend of the recognised research issue. Secondary data was considered in this research as it is deemed that it can be highly preferable because of its easy availability from the online and offline sources. Primary data for the research was collected from human responses by means of conducting interview. This data collection method is employed for the reason that it is highly reliable in nature in comparison to the secondary data. Therefore, taking into consideration the subject of research, the researcher has considered employing primary as w ell as secondary data devoid of focussing on just a specific option. From the process of interview numerical data was gathered that indicates the fragment of data that was analysed to collected relevant information in consideration to the research results (Smith, 2015). Numerical data was considered to be collected for the reason that this offered suitable information on the inclination subject of human perception concerning specific research data. Data Analysis Data collected for the research was evaluated through using several analytical methods. This is for the reason that effective analytical data analysis selection is highly important to attain effective and pertinent research findings. Data analysis process in investigating the impact of employee performance on consumer retention considered the process of open coding-general themes and axial coding (Spradley, 2003). In open coding analysis, the researcher made attempts to read through the data numerous times and then start generating tentative labels for a lot of data which summarises the aspects those are evidenced to happen. This is not just relied on an existing theory that is just relied on the meaning that is arrived from the data. This data analysis process will facilitate in recording instances of the participants words along with establishing the properties associated with every code. In addition, axial coding data analysis was employed by the researcher in this investigation. This is for the reason that axial coding includes recognising relationships between open codes. This will also be simpler to realise the time at which last chat is been observed regarding this blog post (Taylor, Bogdan DeVault, 2015). This data analysis method is used for it can facilitate in sustaining transparency and proper interpretation of composed information. Ethical Consideration Ethical considerations are considered to be important in the research for the reason that the ethical standards avoid the fabrication or data falsification that promotes the pursuit of knowledge along with truth. This is deemed to be the primary goal of the research. The researcher has made sure that he has abided by the most suitable code of conduct in carrying out tasks within several processes of data collection. The secondary data for the research has been collected from different reliable as well as authentic sources that make sure of the research outcomes validity (Vaioleti, 2016). The researcher made sure that within the survey process, he will avoid asking delicate questions along with ensuring that the survey participant is persuaded to take part within the process of survey with mutual permission. In addition to that, the identity of the survey respondents was not being disclosed for certain confidentiality concerns. Moreover, in this no business use of the research stateme nt has been focussed on from the behalf of the researcher. Limitation The primary data for the research has been gathered from one supervisor of the selected hotel in conducting research on the topic impact of employee performance on consumer retention. The validity of the information serves as the major restraint which generates the obstacle among the research results along with the accomplishment of the research (Wildemuth, 2016). The selected professional has an intention of offering a positive image of the company through not disclosing the major concerns. As a result, the researcher might deal with the issues in recognising the concerns along with offering suitable recommendations in order to deal with them. It has also been evaluated that manipulation of the secondary data can take place to a certain extent that might impact the research quality as well as the research findings. Conclusion Research methodology employed in this research focussed on gathering relevant information in order to make effective business decisions. This also includes theoretical evaluation of principles and methods related with the research on impact of employee performance on consumer retention. The objective of this paper was to explain the research methodology of carrying out study on impact of employee performance on consumer retention. It was gathered from the paper that qualitative research methodology has been selected in investigating the impact of employee performance on consumer retention. Simple random sampling has been employed in carrying out an interview process with the supervisor. Data analysis process in investigating the impact of employee performance on consumer retention considered the process of open coding-general themes and axial coding. However, the validity of the information serves as the major restraint which generates the obstacle among the research results along wi th the accomplishment of the research. Moreover, the researcher might deal with the issues in recognising the concerns along with offering suitable recommendations in order to deal with them. References Glaser, B. G., Strauss, A. L. (1967). The discovery of grounded theory: strategies for qualitative research. New Brunswick, N.J.: Transaction Publishers. Lewis, S. (2015). Qualitative inquiry and research design: Choosing among five approaches.Health promotion practice,16(4), 473-475. Lincoln, Y. S., Guba, E. G. (1985). Naturalistic Inquiry. Newbury, CA: SAGE Publications. Neuman, W. L., Robson, K. (2014).Basics of social research. Pearson Canada. Patton, M. Q. (2002). Qualitative Research and Evaluation Methods (Vol. 3). Thousand Oaks, C.A.: Sage Publications. Sekaran, U., Bougie, R. (2016).Research methods for business: A skill building approach. John Wiley Sons. Silverman, D. (Ed.). (2016).Qualitative research. Sage. Smith, J. A. (Ed.). (2015).Qualitative psychology: A practical guide to research methods. Sage. Spradley, J. P. (2003). Qualitative Approaches to Criminal Justice: Perspectives from the Field. Thousand Oaks, C.A.: Sage Publications. Taylor, S. J., Bogdan, R., DeVault, M. (2015).Introduction to qualitative research methods: A guidebook and resource. John Wiley Sons. Vaioleti, T. M. (2016). Talanoa research methodology: A developing position on Pacific research.Waikato Journal of Education,12(1). Wildemuth, B. M. (Ed.). (2016).Applications of social research methods to questions in information and library science. ABC-CLIO.