Tuesday, August 25, 2020
Ecological Analysis of Barclays Bank Plc Essay Example Ecological Analysis of Barclays Bank Plc Paper Natural Analysis of Barclays Bank Plc Paper They face progressively all around educated and vigorous clients, decided administrators, and electorates ho are getting earth mindful. They need to adjust to changing monetary and economic situations, quick changing purchaser needs and desires. Their business is impacted by worldwide financial, political, administrative, innovative and other erratic elements. Thusly, they need to gadget their systems, strategies and tasks to adjust to these adjustments so as to meet partner desires and fulfill shopper needs. In this task, attempt to portray and assess changing business condition of Barclay Bank Pal in the course of the most recent five years. Presentation About Barclay Bank Pal Barclay is a significant worldwide budgetary administrations supplier occupied with retail banking, Mastercards, corporate financial venture banking, riches the executives and speculation the executives administrations with a broad global nearness in Europe, the Americas, Africa and Asia. Barclay Group central command is at 1 Churchill Place in London, UK, yet it has activities everywhere throughout the world, with items and administrations to address the issues of clients and customers in neighborhood markets. With more than 300 years of history and aptitude in banking, Barclay works in more than 50 nations and utilizes in excess of 144,000 individuals. Barclay moves, loans, puts away and retests cash for in excess of 48 million clients and customers around the world. Hierarchical structure Barclay is comprised of Clusters: Global Retail Banking, and Corporate and Investment Banking and Wealth Management, every one of which has various Business Units. The third significant territory of the business is Group Center, which involves all our basic help capacities. I-J Banking Industry Auks banking segment, following the IIS and Japan, is the universes third biggest and thought about preeminent as far as: effectiveness, dynamism and profit for capital. Notwithstanding having one of the biggest business banking ventures, the UK is additionally a significant worldwide community for speculation and private banking. The UK banking parts solid worldwide direction is reflected in the generous remote nearness and sizeable resources of outside banks in London. It administrations 95% of the populace with around 3. 5% of Auks workforce over a million specialists. Banks and budgetary administrations contribute E boycott to the Auks national yield (6. 8% of GAP) and give 25% Of all out enterprise charge (Been) to the UK Government. The fundamental retail banks give over mm accounts, clear boycott exchanges a year and encourage 2. Restriction money tetrahedral every year from its system of more than 30,000 free Atoms. Banks in the UK contribute well over El mm every year to good cause and neighborhood network activities. UK banks are approved and directed by Financial Services Authority under the Financial Services and Markets Act 2000 (FSML). Money related Services Authority is an autonomous non-administrative body which practices legal powers under the FSML. The FSML requires the FSP to seek after four destinations: to keep up trust in the UK money related framework; to advance open comprehension of the budgetary framework; to make sure about a suitable degree f security for customers while perceiving their own duties; and to decrease the extension for monetary wrongdoing. Banks of England is liable for keeping up by and large security of the budgetary framework an entirety. The Bank sets loan costs of UK and is additionally answerable for recognizing and restricting fundamental money related hazard. Examination Barclay bank works practically everywhere throughout the world and consequently its activities are affected by the worldwide financial conditions. Have utilized PESTLE system to depict and assess business condition of Barclay Bank buddy. It classifies natural elements into six primary sorts: political, financial, social, innovative, ecological and lawful. Cross section * Government strength * Taxation strategy * Foreign exchange guidelines * Social government assistance approaches Economic variables * Business cycles * GNP patterns * Interest rates * Money flexibly * Income circulation * Social portability * Lifestyle changes * Attitudes to work and relaxation * Consumerism * Levels of instruction Technological * Government spending on investig ate * Government and industry center around innovative exertion * New revelations/advancement * Speed of innovation move * Rates of oldness Environmental * Environmental security laws * Waste removal Energy utilization Legal * Monopolies enactment * Employment law * Health and wellbeing * item security The adjustment in the business condition of Barclay bank The breakdown of a worldwide lodging bubble, which crested in the IS. S. In 2006, caused the estimations of protections attached to land valuing to plunge from that point, harming budgetary establishments all around. Questions with respect to bank dissolvability, decreases in credit accessibility, and harmed financial specialist certainty affected worldwide securities exchanges, where protections endured huge misfortunes during late 2008 and mid 2009. Economy sees overall eased back during this blundered as credit fixed and universal exchange declined. Governments and national banks reacted with phenomenal financial upgrade, money related strategy extension, and institutional bailouts. The ensuing development of a more extensive arrangement of credit issues in contracts and in corporate loaning, and specifically in business land created credit limit limitations and monetary log jam. An underlying spotlight on financing issues, with the disappointment of Northern Rock caused not by quickly obvious dissolvability/credit quality issues, however by the evaporating of the market for the two protections credit resources and discount subsidizing accessibility. Such financing issues were additionally basic to the issues of Bradford ; Bentley and HOBOS in September/October 2008. The UK economy was formally announced to be in downturn on sixth May 2009. The Office of National Statistics said that Gross household item (GAP) fell by 1. 5% over the most recent three months of 2008, after a 0. 6% withdrawal in the past quarter. Downturn is commonly characterized as two fourth of progressive constrictions in GAP, which implies the UK had been in downturn since July 2008. Modern creation fell by an enormous 3. 9 percent over the quarter, while the prevailing set-indecencies segment fell by one percent. Joblessness had likewise ascended to 2. 47 million in the three months to July 2009. It Was at its most significant level in a long time since May 1995. The KICK economy came out of downturn in 2010, after figures indicated it had developed by 0. % over the most recent three months of 2009. In the second seven day stretch of January 201 0, UK joblessness succumbed to the first run through in multi month. The Auks creation and administration segments each developed by 0. 1% during the quarter. The UK downturn started in the April-to-June qua rter of 2008, and was the longest I-J downturn on record. During year and a half of downturn, open getting expanded to an expected El boycott, while yield drooped by 6%. Effect on Barclay Banks execution Barclay declared record benefits of more than Ell billion for 2009 a 92% ascent on the earlier year. Its presentation driven to a great extent by a solid recovery in its speculation banking arm Barclay Capital. Benefits were additionally supported by offer of store the board business Barclay Global Investors, and the option of the New York tasks of bombed venture bank Lehman Brothers toward the finish of 2008. The BIG deal included E. 3 billion to pre-charge benefits. Barclay Capital contributed E. 5 billion of the banks fundamental benefit of E. 3 billion which was 13% down on sasss E billion. Be that as it may, the banks benefit was profoundly influenced by the worldwide monetary lull and falling apart financial conditions in the UK. Its UK Retail Banking benefit before charge in 2009 diminished 55% (E mm) to Emma (2008: El mm), affected by low loan fees bringing about edge pressure on the store book and expanded impedance charges which together more than balance all around controlled expenses and an improved resources edge. Impedance charges rose to Emma (2008: Emma), mirroring the effect of the financial downturn over the business with proceeded with pressure on corporate liquidity, increasing default rates and lower set qualities. Barclay implemented exacting standards on new charge card applications, utilizing a scoring framework that takes more than 400 factors into account while surveying a candidates likely capacity to deal with their credit. Around half of utilizations for charge cards are declined therefore. Solid salary development (2009) over the portfolio driven by expanded loaning, improved edges and outside trade gains, was balanced by higher weakness charges, driven by the disintegration in the worldwide economy. Disability charges in the worldwide organizations expanded Emma, driven by higher misconducts due to disintegrating monetary conditions. UK portfolio charges were higher because of rising wrongdoings because of the monetary disintegration, particularly in the credit portfolios, and the consideration of Goldfish in UK Cards. The impedance charge in Global Retail and Commercial Banking expanded by 85% (E,mm) to E,mm (2008: E,mm) as charges rose in all portfolios, reflecting breaking down credit conditions over all locales. Weakness charges on advances and advances expanded half (E,mm) to E,mm (2008: E,91 mm). The expansion was basically because of monetary weakening and portfolio development, cash developments and religious philosophy improvements, halfway balance by a compression in advance adjusts. In Investment Banking and Investment Management, disability was comprehensively unaltered at El ,mm (2008: El ,mm). The impedance charge against ready to move resources and switched repurchase understandings expanded by 41 % (Emma) to Emma (2008: Emma), driven by hindrance against credit advertise exposures. Political During 2008, the UK government acted in the financial division to recapit
Posted by Bess Lear at 12:33 AM
Saturday, August 22, 2020
Life of Wolfgang Amadeus Mozart expositions He demonstrated energy for music at an exceptionally youthful age. At six years old, youthful Mozart was at that point playing before the Austrian sovereign. Mozart voyaged a great deal yet wound up in Vienna forming for Joseph II. Mozart kept in touch with a portion of his most prominent dramas in Vienna, for example, Die Entfhrung aus dem Serail, yet Joseph II revealed to him Too numerous notes, my dear Mozart. Mozart experienced passionate feelings for Aloysia however wedded her more youthful sister Constanze Weber. Mozart carried on with an extraordinary life and delivered incredible shows that didn't in every case please the rulers. In the film Amadeus there were a few shows performed and made by Mozart. There were various sorts of dramas introduced in the film. There was a drama buffa which was a satire, likewise a show for everybody as opposed to the eminence. There were various instruments utilized in the film and the piano was one of the most famous one. The piano was played by Mozart himself, additionally during his youth he played the piano with his eyes shut. The piano assumed a major job in the film since everybody demonstrated their ability on the piano. There was another arranger in Vienna who additionally made for Joseph II that despised Mozart due to his ability. He cherished his music, however he begrudged him and furthermore detested him since he was unable to form such incredible music. Mozart created a show buffa Don Giovanni which should be a comic drama. Mozart additionally created a happy piece which was intended to occupy and didn't have content. The dramas formed during the 1700 have been extraordinary and had more significance than music does now. Despite the fact that, the music in this time is significantly simpler to tune in to than for instance Die Entfhrung aus dem Serail. On the off chance that a young person who didn't have foundation data on shows and were to hear one out, the individual in question won't comprehend the language or what the drama is attempting to speak to. Individuals are increasingly familiar with this periods music rather tha ... <!
Posted by Bess Lear at 10:25 PM
Hair. William Faulkner - Essay Example His separation from the occasions described permits him to be a merciful and touchy reporter, whose sees we believe we can trust, despite the fact that Faulkner deludes us toward the end. He appears to comprehend Hawkshaw's connection to the young lady, and even treats her untimely sexual undertakings with compassion instead of nauseate: nature don't give any consideration to frameworks, not to mention ladies giving any consideration to them I state she was unable to support herself. It wasn't her deficiency (133-4). The story is in three sections, the second clarifying the first by withdrawing in time, and the third achieving the dnouement. Hawkshaw is introduced as a secluded figure in a network, which the pundit Joseph Reed distinguishes similar to a key theme in Faulkner stories. Faulkner without a gathering is without a perspective fundamental for his best story (Reed, 20). The gathering fluctuates from story to story; it tends to be a family, or a specific social gathering, or, as in Hair, an entire town. Hawkshaw is unobtrusively kind to the young lady, and is so self-destroying that when he demands that I'll keep an eye on her, Maxey tells the storyteller that was the first occasion when he at any point heard him talk positive about anything (132). The young ladies' development is caught with fine economy. She strolls quick like young ladies do, at that point makes companions at school and passes not looking toward the window by any stretch of the imagination (132), with the goal that Haw kshaw's commitment to her is now under danger. Before long she got developed quick (133) and she is hitching up the ordinary straightforward gingham and such dresses that a thirteen-year-old youngster should wear (134). Hawkshaw has given her presents, including the doll which he never outlined for anybody around (133), yet it is by all accounts clear to everybody that his enthusiasm for her isn't undesirable. It is valued that there is a real love in his mentality, which is regarded by the others. At the point when the men discuss how she has gone to the terrible, it was while Hawkshaw was not there (134), and when Maxey voices his unrefined doubts - Any elderly person that will mess with a little youngster, he's truly awful - Matt's remark is a censure: the explanation is an ethical one, he thinks she is too youthful to even consider receiving gems from anyone that aint kinfolk to her (136). Part II fills from quite a while ago, and lets us a little route into his actual reasoning, demonstrating that his enthusiasm for the young lady must be not kidding, genuine and profoundly human. He had hitched the Starnes little girl, demonstrating a genuine commitment to her and her government assistance, picking up barbering and heading out to work in Birmingham, Rode mostly in wagons and strolled the rest, returning each late spring to see the young lady (138). He burned through the entirety of his investment funds on her dad's memorial service, and afterward began sparing again for the marriage. He carried on of develop dedication. The storyteller can't pass on Hawkshaw's sadness when she bites the dust. We just have the colossally contacting point of interest of the image and the lock of hair, which both got lost, the hair and the image, via the post office by one way or another (139). He commits himself then to serving her memory in the main way he can, by taking care of the h ome loan on the guardians' home and restoring each April, as on a journey, to clean it The April excursion is completely fundamental to him, similar to a strict recognition. At past bosses' he had surrendered his activity
Posted by Bess Lear at 2:39 AM
Friday, August 21, 2020
Question: Talk about the Concept of Conceptual Framework in an Organization. Answer: Presentation: This report has been set up to break down the idea of theoretical system in an association. This report delineates the client about the significance of bookkeeping hypothesis ideas in an association. It has been assessed in this report how a reasonable system causes an association to deal with the bookkeeping and fiscal figures and furthermore help the association to settle on a superior choice about the tasks of the organization and all the money related issues. It has been broke down through this investigation that how theoretical structure encourages an association to meet its objectives. For directing this examination, JB HI FI has been contemplated. Further, it has been examined that how the tasks and business working of the organization get influenced because of applied system. Organization diagram: The fundamental business working of JB HI FI is in the music business. Organization is working its business from a very long while. This organization has been begun in 1974 by Mr. John Barbuto. This firm has started with its first store in Victoria at East Keilor. This association has recorded on the ASX (Australian stock trade) itself and right now, it is in the top rundown in the business as far as piece of the overall industry and income. It offers its customers a tremendous scope of games, music, DVD motion pictures, music and TV appears. As of now, this organization has rolled out numerous improvements into its techniques and money related approaches to upgrade the activities and for business development (JB HI FI, 2017). Calculated structure: Calculated structure is a system which has been set by IASB and FASB to deal with the money related and bookkeeping detailing of an association. Theoretical structures are fundamentally a hypothesis which helps the experts to set up the bookkeeping reports. Theoretical structure consistently manages numerous issues identified with principal money related revealing (IASB, 2006). Right off the bat, the idea of applied system has been taken into 1970. Essentially, this idea has occurred with a shared worry of IASB and FASB. The principle target of calculated structure was setting up the comprehension of last budgetary reports among the inside and outer partners of the organization (ISAB Framework, 2001). This structure manages the bookkeeper to set up the last monetary report. Basic examination of viability of JB HI FI to meet reasonable structure commitment: JB HI FI is in the top organizations in the market of Australia. It has been found through this investigation that JB HI FIs yearly report has been arranged and introduced by the theoretical structure of IASB and (FASB, 2007). It has been discovered that whole subtleties of reasonable structure have been considered by the experts while setting up the last money related reports of the organization (IFRS, 2008). The system has improved the adequacy of the budget summaries of the organization. Fiscal summary of the organization is as per the following: JB HI FI LTD (JBH) INCOME STATEMENT Monetary year finishes in June. AUD in millions aside from per share information. 2016-06 Income 3954 Cost of income 3089 Net benefit 865 Working costs Deals, General and regulatory 1006 Other working costs - 361 All out working costs 644 Working pay 221 Intrigue Expense 4 Other pay (cost) 1 Pay before annual charges 218 Arrangement for personal assessments 66 Minority intrigue Other pay Net gain from proceeding with activities 152 Other Net gain 152 Net gain accessible to regular investors 152 Profit per share Fundamental 1.51 Weakened 1.5 Weighted normal offers remarkable Fundamental 100 Weakened 101 EBITDA 263 JB HI FI LTD (JBH) BALANCE SHEET Monetary year finishes in June. AUD in millions with the exception of per share information. 2016-06 Resources Current resources Money Money and money counterparts 52 All out money 52 Receivables 98 Inventories 546 Prepaid costs Other current resources 6 All out current resources 703 Non-current resources Property, plant and hardware Different properties 419 Property and hardware, at cost 419 Aggregated Depreciation - 236 Property, plant and hardware, net 184 Value and different speculations Generosity 37 Immaterial resources 49 Conceded personal duties 21 All out non-current resources 290 All out resources 992 Liabilities and investors' value Liabilities Current liabilities Records payable 302 Conceded personal duties 11 Conceded incomes Other current liabilities 134 Absolute current liabilities 447 Non-current liabilities Long haul obligation 110 Other long haul liabilities 31 Absolute non-current liabilities 141 Absolute liabilities 588 Investors' value Regular stock 49 Held profit 328 Gathered other complete salary 27 Absolute investors' value 405 Absolute liabilities and investors' value 992 JB HI FI LTD (JBH) Statement of CASH FLOW Financial year finishes in June. AUD in millions aside from per share information. 2016-06 Incomes From Operating Activities Other non-money things 185 Net money gave by working exercises 185 Incomes From Investing Activities Interests in property, plant, and gear - 52 Property, plant, and gear decreases 0 Acquisitions, net Net money utilized for contributing exercises - 52 Incomes From Financing Activities Long haul obligation gave Long haul obligation reimbursement - 30 Normal stock gave 6 Repurchases of treasury stock - 13 Money profits paid - 93 Other financing exercises 0 Net money gave by (utilized for) financing exercises - 131 Impact of swapping scale changes 0 Net change in real money 3 Money at start of period 49 Money at end of period 52 Free Cash Flow Working income 185 Capital consumption - 52 Free income 133 Supplemental timetable of income information Money made good on for annual charges - 66 Money paid for premium - 4 (Bloomberg, 2017) It has been broke down through investigation over these reports, it has been discovered that the adequacy of the last monetary report of the organization has been improved. Organization has followed each rule of theoretical structure to endeavor the best introduction and arrangement of last budgetary reports (IASB, 2006 and IASB 2007 b). These reports portray the best data about the companys execution to each client. It has upgraded the comprehension of each client about the budgetary figures of the organization. Organization has followed all the states of IASB and FASB and arranged the reports as needs be. (Jones and Wolnizer, 2003). The deterioration procedure, configuration of salary proclamation, organization of monetary record, income articulation position and so forth has been set up by the organization itself to deal with the money related figures of the organization (ICAEW, 2006). It has been discovered that the reports of the organization are currently portraying an exhibition of the organization because of the better use of the variables and figures of the bookkeeping and budgetary terms. It has been discovered that because of the theoretical structure, the exhibition of the organization has been upgraded and because of a decent presentation regarding income, benefits and come back to the investors, interest in the organization has been improved and the generosity of the organization has been upgraded (Deloitte, 2008). Further, clients are likewise ready to comprehend the last reports of the organization and they are additionally settling on the choices as per their capacity to either remain the dedicated client or switch the brand (Jones, 2006). Examination over numerous articles and book, it has been discovered that these organizations should make the reports as indicated by the reasonable system as the fundamental aphorism of calculated structure is to make it simpler for the interior and outer clients to comprehend the last reports and settle on choice as needs be (Brigham and Ehrhardntt, 2013). It has been examined through this reports reasonable systems are very pivotal for an association to upgrade its presentation and make it progressively adequate to get by in the market. Through the assistance of these calculated systems, organization has figured out how to upgrade its presentation. Further, numerous other related viewpoints have additionally been considered and it has been discovered that these are the best approaches which must be trailed by the organization to improve result as far as the benefit and development of the organization. Rundown: It has been investigated through directing an examination over the reasonable system rules of JB HI FI that the presentation of the organization has been improved and because of a decent exhibition as far as income, benefits and come back to the investors, interest in the organization has been upgraded and the generosity of the organization has been upgraded. Further, clients are additionally ready to comprehend the last reports of the comp
Posted by Bess Lear at 8:07 PM
Sunday, July 26, 2020
SIPA welcomes a domestic policy magazine about universal truths COLUMBIA UNIVERSITY - SIPA Admissions Blog
SIPA welcomes a domestic policy magazine about universal truths COLUMBIA UNIVERSITY - SIPA Admissions Blog Being a part of a school that is always buzzing with discussions of and debates over pressing policy issues, it is hard not to get excited when some of your peers work hard to add another channel to do so. The school and the student body provides numerous platforms for this but the newest addition to the list is the print version of Columbia Public Policy Review (CPPR). CPPR started as a student-lead blog that has been publishing thoughtful and timely policy pieces on pressing US domestic issues. It was founded at the beginning of Spring 2015 with Jen Kim, Caitlin LaCroix, William Colegrave, Thomas Gaffeney, John Olderman and Audrey Yu as the founding board. The inaugural print edition of the magazine was published in November 2016 and features nine articles by SIPA students and faculty. Experience Publishing Inaugural Issue I had a chance to chat with former CPPR board President Erin Kathleen Dostal, who is a second-year Master of Public Administration candidate at SIPA, concentrating in Urban and Social Policy (USP). I asked Erin how the initial experience of gathering articles was like since this was the first print edition of the magazine: âWe started looking for authors in May 2016. When you start from the grassroots level, you tap the people you know personally.â Although this was the reason why most students involved with the magazine ended up being USP concentrators, Erin clarified that they had very different backgrounds and interests. Will Jordan, the Editor-in-Chief of the magazine, has experience working for YouGov and a strong quantitative backgroundand chose to write about polling. Camille Gray, on the other hand, is a lawyer and her article focused on the dispute between Apple and the FBI [over the San Bernardino shooting and the contention over U.S. communications laws]. She also elaborated on the publication process: âPutting together the articles was easy in comparison to the other things that needed to be done, like coming up with the layout for the cover. Natasha Avanessians, the Vice President and Treasurer, and I went through piles of New Yorker, Wire, Cosmopolitan to come up with the cover for the magazine.â She also mentioned how her experience of working for a magazine before helped with the process. But while we discussed thesechallenges, she did not forget to acknowledge the amazing efforts put forward by the board members and admired their competency on the job. âThe people involved are amazing. Will made sure that everything fit together, going back and forth to the writers with questions and getting the best out of them. Natasha had to make sure all the financial operations ran smoothly. I knew Cathleen Gates from before, who works for Gates Sister Studio, and she gracefully offered to do the cover for the magazine for free.â Policy Focus I was curious to know more how the board selected specific topics to feature in the magazine. It was also interesting to note that the focus of CPPR is solely domestic policies, despite the fact the school has such a diverse and international crowd. Erin shared her view on the matter and I realized how CPPR was different from similar initiatives at SIPA. She said,âWe are not exclusionary. The policy areas chosen are very broad and have an impact on a wide range of people, both international and domestic. Besides going to school here, we also live in New York, which in itself is a very international city and it is important for us to know about the domestic policy-making process. Given the fact that other similar platforms, like the Journal of International Affairs, focus more on international policy, and that the majority of SIPA students are international, CPPR is a unique platform to talk about domestic policies. The content of the magazine, ranging from Obamaâs racial legacy t o an aging LGBT population in New York City, attest to the truth in that statement. Events CPPR has partnered with student organizations to host policy dialogues. Erin excitedly highlighted one event from last year where CPPR collaborated with Women in Leadership (WIL) to host âWomen Shaping New Yorkâs Policy and Politics.â The event focused on the crucially important topic of female participation in grassroots politics and housed a panel of women serving in a leadership role in the cityâs government. Moving Forward The magazine has a new board that has already assumed responsibilities, and Erin hopes that they will publish twice every year. Talking about challenges Erin mentioned, One of the major hurdles faced by the previous board was financing the publication cost. SIPA Student Association (SIPASA) allocated funds for hosting the events, while we had to fundraise to finance the publication of the magazine itself. She is hopeful that fundraising will go smoothly this semester and in the future. In the meantime, the online platform is open and active for any domestic policy related discussion. If you are interested in writing for the Columbia Public Policy Review as a new student next year, send them an email email@example.com.
Posted by Bess Lear at 11:49 AM
Sunday, June 28, 2020
The Joy of Giving mainly emphasizes a number of ways to reward the employees on a small scale, which has proven to be more effective than large bonuses for many companies. In companies, when the need to make every employee feel an important part of the organization becomes a priority, such gestures which are on an individual or group level play a vital role in fulfilling the need. This are also known as Motivators as they help in boosting the morale of employees and keeps them motivated and driven to fulfill the organizations goals , along with their own personal goals. Motivation is the result of the internal and external factors that stimulate desire and energy in people to be interested in and committed to a job, role, or subject and to exert persistent effort in attaining a goal. It results from factors like the intensity of desire or need, the incentive or reward value of the goal and the expectations of the individual. There are many motivation theories which support the gift giving behavior in the Joy of Giving, however, the study conducted in this paper will be of three of the renowned studies, and discuss them in detail while critically analyzing the methods used in the case study. Frederick Herzbergs Two Factor theory (Kalleberg, A., 1977, pp. 124-143) about the motivation of the employees relates to that certain factors in the work place, which according to him lead to the presence of Job Satisfaction in employees in an organization. The specific factors might vary for every individual; the presence of these will motivate employees and the absence of these would lead to de-motivation among the employees. They will not add much value when they are present, but will cause a lot of damage psychologically to the employees which can result in lower productivity and level of output for the employees. However, they can be distinguished into two major categories, which include: Motivators These include the factors which lead to pos itive satisfaction. The main motivators for most people would be challenging work which requires effort and the successful completion of the tasks would lead to a sense of achievement. This sense of achievement is important according to Maslows Hierarchy of Needs. Also, recognition of work well done would also be a motivating factor, as the employees get acknowledged for the work they do. This gives them the confidence that the work they do is being noticed and is given importance by the organization. Hygiene Factors The other type of factor is the hygiene factor which includes elements like salary, job security, status and fringe benefits. These are the factors, when missing from the organization give immense dissatisfaction to the employees. This Motivator-Hygiene Theory supports the gift giving behavior in the companies mentioned in the Joy of Living. The employees of Brassiere retailer, Bravissimo, have to deal with customers on a regular basis, and in the service indus try, the higher the level of service, the higher the customer loyalty, the better the sales. Therefore, it is even more important in the service industry that the employees understand and implement the vision and the mission of the company policy. There is a difference in fulfilling the job description and taking ownership of the job and going beyond by doing what is best for the organization. The extra mile is taken by the employees when they know they will be rewarded and recognized for it. For this, the company needs to keep the employees satisfied and motivated. One way of doing this, according to the Herzbergs Two Factor Theory is by providing them with motivators, like the little gifts that Bravissimo is already giving to its employees. Bravissimo does not randomly hand out gifts, its a part of the well thought out strategy. They give gifts when at the times when the employee needs to be made felt special. Holiday times, birthdays always have the soft corner in everyones li ves, and when noticed and celebrated by small, thoughtful gestures like a bottle of champagne, chocolate snowmen at Christmas, etc., by the company leads to a strong goodwill, and a loyalty, which is rarely replaceable by generic bonuses to all. The additional factor that Bravissimo takes into account is the factor that it takes feedback from the employees to keep its gift giving up to date, and in tune with the needs of the employees, and corrects its policy wherever its employees feel it is lacking. Another theory that supports the acts of companies like Peppermint PR, which is a communications firm and gives out special rewards to an employee working harder than usual, or going beyond their job description, is the positive reinforcement theory which is a part of the Operant Conditioning. Operant Conditioning is when the environment is operated upon, and the consequences are then maintained. In simpler words, a few factors in the environment are changed, which then leads to the required behavior. The four contexts of the Operant conditioning are listed and discussed below in an organizational setting. Positive Reinforcement This is a form of reinforcement which is used to encourage certain wanted behavior of the employees. For example, the employer would want the employees to go the extra mile to provide better services to their customers, achieve the necessary goal in the time allocated, etc. Such behavior is encouraged by the organization, when it is followed by a stimulus that is rewarding to the employees, which then leads to a repetition in that behavior. For example, a difficult task when achieved within the deadline by an employee can be awarded with an additional bonus, or the effort can be acknowledged at the Reward and Recognition Night of the Company. Negative Reinforcement Such reinforcement is to again encourage certain behavior, but instead of rewarding, it continuously gives a negative stimulus, which is only removed when the certain required behavior is achieved. For example, in the case of an employee, s/he will have a portion of his salary removed till s/he is able to achieve the task at hand within the time allocated to the employee and with the resources allocated. Positive Punishment Positive Punishment is used to discourage an action, this occurs when an action is followed by an unwanted reaction. For example, if an employee falls short on the job, the supervisor can then have a meeting with him/her to give him/her a warning. This will ensure that the employee does not slack off on the job again. Negative Punishment This is to discourage an action by taking away a wanted stimulus. For example, a portion of the salary will be deducted from the employees paycheck, followed by an unwanted behavior. Keeping in accordance with the Positive Reinforcement theory from Operant Conditioning, the Peppermint PR gives out thoughtful gifts to appreciate some work, or extra help that an employ ee provided to the organization, or to another employee, as stated by Carolyn Axtell To be singled outÃÆ'Ã ¢Ã ¢Ã¢â¬Å¡Ã ¬ÃâÃ ¦.more likely to motivate someone to repeat same positive actions. The factor that Peppermint PR keeps as most important is that individuals should be highlighted, and the gifts should be given soon after the positive behavior demonstrated. According to the Alderfers ERG theory (Boshoff, C. Arnold, C., 2002, pg. 677- 719) there are three types of needs, existence, relatedness needs and growth needs. Existence refers to basic needs that are required for an employee to keep working. Relatedness need refers to the social environment that an employee craves for. Growth refers to the desire for the personal achievement that an employees from a job. A basic salary covers the basic needs, a thriving office environment and culture covers the relatedness needs, whereas, the reward and recognition which leads to the sense of achievement is the highest stage of the three needs. Growth need is very important, and small token of appreciation, such as the gift giving in the companies, can also be used to create that necessary sense of achievement which motivates the employees and drives them to further achieve goals and tasks allocated to them. The gift giving behavior of the companies mentioned, is supported by all three theories. Every theory accepts the need of the basic factor which makes employees join the labor force and an organization, however, more than that is required to keep the employee satisfied, motivated and productive. The pushing factor may vary for different employees in different organizations, however, the gift giving behavior is enjoyed and appreciated by the employees of the above mentioned companies. 2) Reward defined in simple terms is the return for service, or merit. The reward in order to be effective, and noticed, needs to be tangible enough to be seen as recognition of the service or merit. One of the myths from Pffeffer (1998 b, pp. 9-13), is that people work for money. This myth has been believed by people for centuries now. That has been the reason why to reward employees; the employers give the employees the bonuses or raises in the salaries. However, according to the Alderfers ERG theory (2002, pp.677-719), after the existence needs have been fulfilled, other needs like relatedness and growth need to be fulfilled, otherwise, there is no satisfaction in the job. The basic salary is the existence need, but other needs also need to be catered to, to keep the employee motivated. For loyalty, and for rewarding employees, companies like Madgex appreciate the work of the employees with cakes. Such gestures are said to cater to the other needs of the employees, which a basic salary does not fulfill. Hawthorne Studies (Frank Kaul, 1978, pp. 623-643), provides a theory quite contrary to the one which has been implemented by Madgex. Hawthorne Studies cut out the breaks of the e mployees, and brought the women back to longer working hours. This, contrary to popular belief, instead of reducing productivity, it gradually increased it. When studied in detail, it was concluded that the social environment also helps in the productivity of the employees, where they can create the atmosphere of their own choice, where they can socialize, talk, and enjoy the atmosphere they work in. The raised self-esteem of the employees was the reason why the productivity increased. The conclusion of the Hawthorne Studies, (Frank Kaul, 1978) proves that monetary benefits, or material gifts are not always the ones that will lead to an increase in motivation and productivity, a factor like the work environment can also prove to be of great significance. In some cases, to make the employees work harder, factors other than material benefits might need to altered, and in such scenarios, no number of gifts would increase productivity or motivation. The method of giving gifts, ma y not be the most appropriate to increase the self esteem of the employees. If the employees perceive the gifts to be of little value, cheap or meaningless, they will not add value to the employees self esteem, and might even prove to be unfavorable. For example, Recruitment manager at Metaswitch believes that generic gifts should be given to the employees as they would have broader appeal. This would have little value for the employees if the gift is as generic as a bonus, and is not even that value adding. If the employees start perceiving that the gifts are being given to the favorites of the employers, then instead of seeming as a reward, they will start resenting it. If given to too many employees, then the employees who will not receive it will be de-motivated and it might raise a level of frustration. A similar policy is followed at Bravissimo where little-and-often approach is followed while giving out gifts. When these rewards come too often, they become expected and los e their value, and the reason for the gift giving gets nullified. This, instead of increasing motivation will decrease the morale of the employees. There are advantages of giving gifts to employees, but there are also cons if the gift giving strategy is not thoroughly thought out and major factors like the time interval and the number of recipients is not considered. If handled well, the gifts can lift morale, if not, and then it can lead to adverse consequences for the organization and the self esteem of the employees.
Posted by Bess Lear at 12:40 AM
Friday, May 22, 2020
Motivation and rewards are very important concepts in an effective educational system. Motivation is the driving force a person has to carry out activities and behaviors. Meanwhile, rewards are the benefits that a person receives or hopes to receive in completing the action or behavior thus providing motivation. This is why rewards are often implemented in education in order to motivate students to learn. However, not all rewards are the same as they can be separated into two different categories: intrinsic and extrinsic. In this paper I will argue that extrinsic rewards should not be heavily relied upon in schools as a motivator for academic success. Before understanding the problems with extrinsic rewards being used in education, itÃ¢â¬ ¦show more contentÃ¢â¬ ¦Extrinsic rewards are often utilized within classrooms today. Excellent examples of this would be students receiving candy or gold star stickers for getting answers correctly. These rewards undoubtedly promote motivation for students which explains why educators use them however, I would argue that frequent use of these rewards can be problematic. Some concerns about the frequent use of extrinsic rewards is that it can diminish a student s intrinsic motivation or drive for intrinsic rewards (Bear, Slaughter, Mantz, Farley-Ripple, 2017). Thus a student who was once prideful of their success and driven by a longing to learn could then become instead more concerned and driven by the rewards they are given for their successes. This reminds of a story from a lecture Dr. Schuh presented during my class in Educational Psychology. She told us about a story from when her daughter was in kindergarten. She explained that her daughter was very excited and motivated to learn during her start to kindergarten. However, half way through the school year the teacher began implementing a token economy into the classroom. In this system the teacher implemented a currency of sorts in the classroom in which students could purchase items such as candy and small toys with the tokens they received for success and good behavior. Dr. Schuh became troubled with this system as her daughter started to become noticeably over focusedShow MoreRelatedThe Importance Of Learning Motivation In Education862 Words Ã |Ã 4 PagesThe importance of learning motivation in education The importance of learning motivation in education is a change of energy in a person which is marked by the emergence of feelings and reactions to achieve a goal. The instructors assignment isnt simply to dealing with training works out, inquiring about, creating, and dealing with an instructive organization, particularly understudies. Instructors are likewise in charge of producing learning, propel students. 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Posted by Bess Lear at 10:29 AM