The causes and effects of mergers and acquisitions

The causes and effects of mergers and acquisitions It is still the start of the 21st century and as per the predictions, the world is moving at a brisk speed. The people who catches up with the world right now will be able to survive others will not be able to follow them. Same is the case with the companies of the 21st century. Companies today need to be fast growing, efficient, profitable, flexible, adaptable, and future-ready and have a dominant market position. Without these qualities, firms believe that it is virtually impossible to be competitive in todays global economy. Academics and other observers advance value-maximization,[6] managerial ego, mimicry, the need to reduce uncertainty and defensive considerations (acquire to avoid being acquired; ensure that growth keeps up with that of competitors, etc.) and high levels of corporate reserves and share valuations among the motives behind consolidation in financial services. Supporters of MAs allege that they facilitate synergies between merged organizations, generate efficiency improvements and increase competitiveness. Indeed, they hold that mergers, by increasing economies of scale and spreading costs over a larger customer base, enable financial operators to provide services at lower prices. Demonstrating that MAs improve efficiency is thus central to making the case for the consumer benefits of mergers and in assessing their potential impact on consumers.[7] If mergers improve efficiency, then larger, combined firms may be expected to pass some savings on to consumers through lower prices or improved service. In some industries such as insurance or banking, firms may move into new markets. In others such as pharmaceuticals or software technology, firms may work with smaller firms that have developed or are developing new products that they can manufacture and/or distribute more efficiently, while other firms focus on their own internal growth, leadership and development. Regardless of industry, however, it appears that it has become all but impossible in our global environment for firms to compete with others without growing and expanding through deals that result in mergers or acquisitions. Mergers and acquisitions are increasingly being used by firms to strengthen and maintain their position in the market place. They are seen by many as a relatively fast and efficient way to expand into new markets and incorporate new technologies. Yet their success is by no means assured. To the contrary, a majority fall short of their stated goals and objectives. Mergers Acquisitions an opportunity to improve employee relations or pull off some krafty moves? Mergers and Acquisitions (MA) have been a current topic within HR and Employment Law for a long time now but the last ten years has seen far greater opportunities opening up for companies (including private equity funds etc) to make that transforming acquisition or merger with a rival which will deliver major financial benefits and enhance shareholder value. Of course it is a well known fact that more than 60% of mergers/acquisitions fail to achieve their planned objectives. One major contributory factor in this has been the failure to pay sufficient attention to the people aspect of this type of change. Emotions can and do run high during protracted MA battles. Obviously the financial, legal and commercial issues will take precedence over the people issues. However compelling the financial or commercial case, a takeover will not succeed if key individuals are not motivated to make the new arrangements work. Those key individuals can be at any level in the business and it is not always the case that there are many other qualified and more motivated people just waiting to take their places. Rectifying these problems, although possible, can be costly. Kraft may rue the day when they failed to deliver on their commitment and dismissed many knowledgeable and experienced staff at Cadburys near Keynsham.   Neglecting the human factor is a frequent cause of failure Cultural and symbolic elements in MAs are typically framed in terms of the distinction between the merging firms, thus leading to an us versus them dualism. The creation of formal, internal communications mechanisms as early as possible in the process is necessary to limit the anxiety that will otherwise be fuelled by rumour, the grapevine, or even outside news reports. Employees complain that their first knowledge that their employer is involved in a merger or acquisition is often from the morning news before setting off for work. According to a Hewitt Associates executive, the fact that the human factor is taken into account in only 5 per cent of MAs explains why more than half of them in all sectors fail. Teams are usually put together to oversee merger and acquisition operations. These teams almost always comprise specialists in legal and financial issues as well as experts in strategy but rarely do they include human resource directors. One possible explanation is the fact that speed is generally considered of capital importance for success. While the integration phase of merging enterprises may cover between three to five years, the first 100 days after the announcement of the transaction are the most crucial for success or failure. It has become common practice to prepare and communicate to staff and shareholders a programme of integration activities to cover this period, when the feelings of fear, apathy, demotivation and the classical victor and vanquished syndromes are at their highest. Since a majori ty of mergers end up with the elimination of overlapping functions and positions, the first 100 days are likely to be those when staff are most uncertain about jobs, career prospects and the disappearance of their own corporate culture. To reduce the possibilities of failure in MAs, some management experts have recommended that human capital be placed at the centre of the process, or at least be given equal attention to that assigned to economic and financial considerations. According to this school of thought, such a redirection would enable acquirers to select the most compatible acquisition targets from a human resource perspective and make integration that much easier. Frank communication on a daily basis between management and staff helps to dispel some of the uncertainties of MAs and avoid organizational drift. Employees should be informed in good time about the manner in which redundancies, if there are to be any, will be decided and about the role of their trade unions or representatives in the process. It is also important for staff from the acquired organization to be assured that the rights and entitlements they had with their previous employer are to be respected; otherwise there is a high probability of conflict. Merger uncertainties are also frequently blamed for the loss of talent from target companies, which can destroy the very basis for the merger. The failed merger plans between the Deutsche Bank and Dresdner Bank in April 2000 demonstrate how staff resistance can undermine corporate strategies and management wishes. Integration of teams from the respective investment banks of the two parent banks posed a risk to the balance already achieved between staff in Deutsche Morgan Grenfell and the previously acquired Bankers Trust. MAs imply immediate and direct job losses A study on the efficiency effects of bank mergers in the United States,[49] which summarizes nine case studies, reports that all nine mergers resulted in significant cost cutting in line with pre-merger projections, although only four of the mergers were clearly successful in improving cost efficiency. As for employment, the largest volume of cost reductions was generally associated with staff reductions and data processing systems and operations. Payroll reductions often accounted for over 50  per cent of the total cost reduction and in at least one case the reduction in staff costs accounted for nearly two-thirds of the total. In all cases, the savings achieved were of the order of 30 to 40 per cent of the non-interest expenses of the target. All of the merged firms indicated that the actual savings either met or exceeded expectations. Most of the firms projected that the cost savings would be fully achieved within three years after the merger, with the majority of the savings be ing achieved after two years. Managing downsizing related   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  to MA restructuring While MAs are driven largely by financial considerations, their success vitally depends on the motivation of retained workers to contribute to the achievement of merger objectives. The high proportion of failed MAs may not be unrelated to the manner in which staff are often relegated to cost variables rather than being made active partners in the change process. Social plans, guarantees against forced departures and the involvement of staff in MA-related decision-making are critical motivating factors. The study referred to in Chapter 1[69] concluded that the failure of the overwhelming majority of MAs resulted from concentration on hard legal and finance issues to the detriment of the soft people issues in merger planning and implementation. Poor communications with employees appeared to pose a greater risk than that with shareholders, suppliers or customers. The study found that success was linked to a holistic approach when the soft people and cultural issues were an integral part of the focus on financial performance. Of the companies involved in the survey, just nine (less than 10 per cent of respondents) addressed all the soft keys, and each was successful. The study stresses the fact that once value was lost, it was seldom recovered. Even though possibly the most difficult to implement effectively, headcount reduction was the area in which most companies reported achieving their targets. Loss of staff an inevitable result of MAs often included the very individuals the acquirer needed and intended to keep to succeed. MA value extraction was impossible without the enthusiastic cooperation of employees. MAs, remuneration and other compensation issues Two conflicting aims appear to characterize current practices in financial sector remuneration: the need to reduce labour costs within a context of increasing competition and decreasing profitability and the necessity to compensate and adequately reward employee performance and commitment within an environment of continuous and challenging change.[75] Recent trends in compensation policies are moving towards more contingent, individualized and explicitly performance-based systems, while seeking to retain workers loyalty and commitment to organizational goals. This might explain why changes in compensation have tended to be less dramatic than expected compared with both current rhetoric and experience in other industries. The main exception to the industry trend is the United States, where in the absence of a collective wage agreement or any kind of coordination between banks in wage setting, wide differences in compensation levels both between and within financial institutions have a lways been the rule. Sales-based bonuses, either individual-based (as for lenders in wholesale operations) or distributed via managers to branch offices, are the most widespread example of incentives, while commissions have become common for crucial jobs, such as investment advisors.[76 MAs and working time The link between financial sector concentration and patterns in regular working time is difficult to identify because working-time agreements depend upon the national context and are not limited to the sector under consideration. Banks adoption of the retailing model is encouraging them to adjust their hours to customer requirements, extending opening hours on at least one day a week and even opening some branches on traditionally closed days such as Saturdays a trend which has aroused strong trade union reactions in a number of countries. It goes without saying that MAs can provide an opportunity for management to opt for more customer-friendly working hours. However, the rapid development of Internet-based direct banking and ATMs often accelerating and accelerated by MAs has the opposite effect of reducing the need for longer opening hours. Given that successful management of the restructuring process is vital for achieving organizational objectives, managers need to be aware that downsizing is more than a reduction in head count and work reorganization. Terminations destroy the firms social fabric as structures are altered, relationships disrupted and work patterns and communication flows modified, making it more difficult for retained staff to do their work. These structural problems may inhibit performance so that staff need help to cultivate new ties, although insufficient attention is usually given to the intricate relationship between the organizations formal and informal structures. In addition, survivors who are already subject to survivors syndrome find they have to work harder to cover staffing shortfalls, with the consequence that increased workloads feed the stress related to job insecurity, undermining the very efficiency goals that motivated the merger or acquisition. Job insecurity may make employees feel pressured into agreeing to put extra effort into their jobs to demonstrate organizational loyalty; but such working conditions are neither sustainable nor conducive to the achievement of corporate objectives. Financial sector restructuring around the world has led to a high rate of call centre growth. Research by Deloitte Touche has found, for instance, that Australia has 1,400 call centres and help-desks employing 50,000 people and annual sales of $2 billion. Staff turnover averages 18 per cent a year mainly due to stress, as confirmed by the fact that 80 per cent of workers are requesting stress management training assistance. The annual cost to the industry from the high turnover has been estimated at around $100 million. MAs generate high levels of staff anxiety and stress as their working world is turned upside down, their jobs come under threat and their career prospects and professional competence are called into question. Collective defensive mechanisms, especially in hostile takeovers involving previously keen competitors, may lead to a victor-vanquished syndrome inducing behaviour inimical to the smooth implementation of changes for successful integration. Employees from each company are aware that there are many duplicated positions to be eliminated and the struggle to survive will be fierce. Trade unions may themselves be at loggerheads as the merger may involve companies recognizing different negotiating partners. Not surprisingly, it is much easier for managers to convince shareholders about the merits of proposed mergers than it is to persuade their own staff.

Anti Corruption Essay

Corruption is found in the government when instead of thinking about the interests of the citizens as a whole, the members of the government are chiefly interested in promoting their own selfish interests. Corruption is found in both public and private organizations and everyone starting from the clerk to the Managing Director of a company is corrupt in a way or the other. The clerk takes small bribes from the people who visit the office so that their work is finished early than the others who are waiting in a queue. In India, bribes are also accepted in a few temples where devotees offering bribes are given priority over others to visit the temple. Parents offer bribes in schools and colleges to get their child admitted. There is no institution, no organization which is not corrupt in a way or the other. But the question that arises is that can an anti-corruption movement be started and if yes, shall it be successful. The answer depends largely on the adaptation of anti-corruption measures by both the government and the citizens. It is essential for all the Indians to stop taking bribe and also to stop offering bribe in any form. This is the foundation on which the success of any anti- corruption measure will depend. A recent example of anti- corruption measure has been adopted by Mr. Anna Hazare against the existing system of government. He was of the opinion that the Lokpal Bill should be passed in both the houses of the Parliament as a result of which all the ministers and the members of the Parliament would become answerable before the law. The movement also supported by Mr. Arvind Kejriwal and was successful initially because it instilled among the citizens the awareness of the necessity to pass the Lokpal bill but this movement proved to be unsuccessful in the later stages when the Lokpal bill failed to pass. Corruption is an incurable disease which all the citizens should try to combat by hook or by crook. It is only because of the corrupt politicians that today India is burdened with enormous loans from the developed countries especially America. It has been estimated that if the money deposited In the Swiss Bank of Switzerland by the Indian politicians return to India, not only will India be free from all the loans but the rising prices of different commodities would immediately shoot down. People should be allowed to re- elect the candidate they voted for if he fails to fulfill the promises that he made while contesting the elections. People are of the opinion that corruption is a way of life and nothing can be done to  eradicate it. It is essential to understand that unless we as the citizens are not determined to do away with corruption from the roots, how we can expect the government to be corruption- free. Corruption is not a new phenomenon in India. It has been prevalent in society since ancient times. History reveals that it was present even in the Mauryan period. Great scholar Kautilya mentions the pressure of forty types of corruption in his contemporary society. It was practised even in Mughal and Sultanate period. When the East India Company took control of the country, corruption reached new height. Corruption in India has become so common that people now are averse to thinking of public life with it. Corruption has been defined variously by scholars. But the simple meaning of it is that corruption implies perversion of morality, integrity, character or duty out of mercenary motives, i.e. bribery, without any regard to honour, right and justice. In other words, undue favour for any one for some monetary or other gains is corruption. Simultaneously, depriving the genuinely deserving from their right or privilege is also a corrupt practice. Shrinking from one’s duty or dereliction of duty are also forms of corruption. Besides, thefts, wastage of public property constitute varieties of corruption. Dishonesty, exploitation, malpractices, scams and scandals are various manifestations of corruption. Corruption is not a uniquely Indian phenomenon. It is witnessed all over the world in develop ing as well as developed countries. It has spread its tentacles in every sphere of life, namely business administration, politics, officialdom, and services. In fact, there is hardly any sector which can be characterised for not being infected with the vices of corruption. Corruption is rampant in every segment and every section of society, barring the social status attached to it. Nobody can be considered free from corruption from a high ranking officer. To root out the evil of corruption from society, we need to make a comprehensive code of conduct for politicians, legislatures, bureaucrats, and such code should be strictly enforced. Judiciary should be given more independence and initiatives on issues related to corruption. Special courts should be set-up to take up such issues and speedy trial is to be promoted. Law and order machinery should be allowed to work without political interference. NGOs and   media should come forward to create awareness against corruption in society and educate people to combat this evil. Only then we would be able to save our system from being collapsed Now-a-days corruption can be seen everywhere. It is like cancer in public life, which has not become so rampant and perpetuated overnight, but in course of time. A country where leaders like Mahatma Gandhi, Sardar Patel, Lai Bahadur Shastri and Kamraj have taken birth and led a value-based is now facing the problem of corruption. When we talk of corruption in public life, it covers corruption in politics, state governments, central governments, â€Å"business, industry and so on. Public dealing counters in most all government offices are the places where corruption most evident. If anybody does not pay for the work it is sure work won’t be done. People have grown insatiable appetite for money in them and they can go to any extent to get money. Undoubtedly they talk of morality and the importance of value-based life but that is for outer show. Their inner voice is something else. It is always crying for money. It has been seen the officers who are deputed to look into the matters of corruption turn out to be corrupt. Our leaders too are not less corrupt. Thus the network of corruption goes on as usual and remains undeterred. Corruption is seen even in the recruitment department where appointments are ensured through reliable middle agencies. Nexus between politicians and bureaucrats works in a very sophisticated manner. Nexus does also exist between criminals and police. Everybody knows that criminals have no morals, hence nothing good can we expect from them. But police are supposed to be the symbol of law and order and discipline. Even they are indulged in corruption. This is more so because they enjoy unlimited powers and there is no action against them even on complaints and sufficient proof of abuse of office atrocities and high handedness. Corruption can be need-based or greed-based. Better governance can at least help to check need-based corruption. Better governance can check greed based corruption also because punishment for the corrupt will be very effective and prompt in a better-governed country. The steps should be taken to correct the situation overall. Declarations of property and assets of the government employees are made compulsory and routine and surprise inspections and raids be conducted at certain intervals. Though it seerris very difficult to control corruption but it is not impossible. It is not only the responsibility of the government but ours too. We can eliminate  corruption if there will be joint effort. We must have some high principles to follow so that we may be models for the coming generation. Let us take a view t o create an atmosphere free from corruption. That will be our highest achievement as human beings. Introduction à ¢ â‚ ¬ Å“Power tends to corrupt and absolute power corrupts â‚ ¬ absolutely.à ¢ It is not easy to define corruption. But in a narrow sense, corruption is primarily concerned with à ¢ â‚ ¬ ~ â‚ ¬ â„ ¢ bribery and takes several forms. Corruption is a global phenomenon and is omnipresent. Corruption has risen steadily and is now rampant in our society. National Stage Corruption in India is a consequence of the nexus between bureaucracy, politics and criminals. India is no longer considered a soft state. Now it has become a state of mind where everything can be had for a test. Today, the number of ministers with an honest image can be counted on the fingers. At one time, bribe was paid to do things wrong, but now they pay bribes to get things done well at the right time. Effects of corruption india administration is tainted with scandals. India is among 55 of the 106 countries where corruption is rampant, according to the Index of Perceived Corruption Report 2004, published by Transparency International India. Corruption in India leads to promotion not prison. It is very difficult to catch big sharks à ¢ â‚ ¬ ~ â‚ ¬ â„ ¢. Corruption in India has no wings wheels. As a nation grows, so do the corrupt to invent new methods of cheating the government and the public. The causes of corruption The causes of corruption are many and complex. The following are some of the causes of corruption.  †¢ Appearance of the political elite who believe in programs to interest rather than nation-oriented policies.  †¢ artificial shortages created by the people with malevolent intent destroys the fabric of the economy.  †¢ Corruption is caused as well as the increase due to the change in value system and ethical qualities of men who administer. The old ideals of morality, service and honesty are considered a achronistic.  †¢ The tolerance of people towards corruption, the complete lack of intense public outcry against corruption and the absence of strong public forum to oppose corruption allow corruption to reign over people.  †¢ The size of most of the population, coupled with widespread illiteracy and poor economic infrastructure tip of the endemic corruption in public life.  †¢ In a highly inflationary economy, low salaries of government officials are forced to resort to the path of corruption. IIM graduates with no experience in a very attractive salary than what government secretaries draw.  †¢ complex laws and procedures alienate common people to ask any government assistance.  †¢ The timing of elections is a time when corruption is at its peak. Great political fund employer to comply with the high cost of the election and ultimately seek personal favor. Bribery to politicians buys influence, and bribery of politicians buying votes. To be elected, politicians bribe poor illiterate people, who are slogging for two times meals â‚ ¬ â„ ¢. Measures to combat corruption Is it possible to contain corruption in our society? Corruption is a cancer, that all Indians should strive to cure. Many new leaders when in power declare their determination to eradicate corruption but soon become corrupt and begin to accumulate huge wealth. There are many myths about corruption, which must be exploited, if we really want to fight. Some of these myths are: Corruption is a way of life and nothing can be done. Only people from underdeveloped or developing countries are prone to corruption. You have to avoid all these crude fallacies while planning measures to combat corruption.  †¢ Laws should be foolproof so that no discretion to politicians and bureaucrats. The role of the politician should be minimized. The implementation of the policies developed should be left to the independent commission or authority in every area of public interest. Decision of the commission or authority should be challenged only in court.  †¢ The cooperation of the people must be obtained to successfully contain corruption. People should have the right to recall elected officials if they see that they become indifferent to the electorate.  †¢ The financing of elections is at the center of political corruption. Electoral reforms are crucial in this regard. Several reforms such as state funding of election expenses of candidates, strict compliance with legal requirements such as elections in part as political parties have their accounts audited regularly and filing tax income, denying persons with criminal records the opportunity to participate in elections should be presented  †¢ Responsiveness, accountability and transparency are a must for a clean system. Bureaucracy, the backbone of good governance, should be more citizen friendly, responsible, ethical and transparent. †¢ Once again the courts should be open to the prompt and inexpensive justice so that cases donà ¢ â‚ ¬ â„ ¢ t stay in the courts for years and justice is delivered on time.  †¢ The local bodies independent of government, as Lokpals, Lokadalats, CVC and the vigilance committees should be formed to provide speedy justice with low expenses.  †¢ A new fundamental right to know. Right to Information should be made, which entitles citizens to seek the information they want. Barring some confidential information that relates to national and international security, another type of information should be available to the general public when necessary. strict measures against corrupt officials will undoubtedly have a deterrent effect. Conclusion Corruption is an intractable problem. It’s like diabetes, can only be controlled but not completely eliminated. It may not be possible to completely eradicate corruption at all levels, but may contain within tolerable limits. Honest and dedicated persons in public life, control over electoral expenses could be the most important recipe for fighting corruption. Corruption has a corrosive effect on our economy. Worsens our image in the international market and leads to lost opportunities abroad. Corruption is a global problem that all countries of the world are facing, solutions, however, can only be done at home. We tolerated corruption for so long. The time has come to eradicate its roots. Anna Hazare’s Movement Against Corruption A new landmark in the history of independent India, a new path paved by the veteran anti- corruption campaigner Anna Hazare. His struggle against corruption was a gentle reminder of Mahatma Gandhi’s Satyagraha. His fast-unto death, the five day fast has shown the world what Gandhism means in today’s world. The power of Gandhiji’s non violence will never cease to exist in the ages to come. While in Libya and Yemen there is bloodshed for  freedom, where people are waging war against one another during the crisis, here in India, a respected social activist Anna Hazare is waging a peaceful, non violent war against corruption. His urge to free India of the greatest evil, corruption, commends appreciation. This fight against corruption staged at Jantar Mantar was not a one- man show. People from different parts of the country gave their support to Anna Hazare. The greatest merit of this non violent struggle was that no political party was involved in it. Anna Hazare and his supporters were not influenced by any political party. There was only one flag waving high in the sky and in our minds, the Indian National Flag. The fast ended on a very positive note when the idea of Jan Lokpal Bill was accepted by the Government of India. According to the Jan Lokpal Bill, there will be a separate body to investigate and curb the ugly face of India†¦.CORRUPTION; where people have the right to raise their voice against corrupt politicians. Moreover the CBI will be seen as an independent body, free of any other external influence. Now that the bill is going to be sanctioned, a very important question arises†¦. Can all the Indians touch their heart and say with confidence that the Jan Lokpal Bill will eradicate corruption Maybe to an extent but I don’t think it will erase corruption completely in a vast country like India. The Jan Lokpal Bill may have loopholes like the Right to Information Act, an Act passed due to the thrust laid by Anna Hazare. According to the right to information act, the citizens of India have the right to get information on any matter concerning the country, but recently an incident occurred which clearly reflects the loopholes in it. A citizen of India lodged a complaint about the illegal wealth possessed by the former chief justice of India, K.G Balakrishnan. Even today complete information about the wealth of this most corrupted chief justice of India is not known to the public. Why? Is it beyond the Right to Information Act? Similar loopholes are likely to be there in the Lokpal bill also. It is sure that as time passes some illegal and illogical rule will come whereby the citizens cannot use this bill against the Prime Minister, Chief justice and so on thus restricting its use. The new committee formed to frame the bill must take in the interest of all sections of the population. It should be taken care that the bill will be unbiased and does not favour any person; be it the president or prime minister. Further it should be accompanied by other reformation, yes, reformation from  the grass root level. Recently when assembly elections were held in Kerala, crores of rupees were spent by each candidate of the 140 constituencies for campaigning. Where did this money come from? If it is the contribution made by big industrialists and so on, then those candidates when elected should serve their interests. In Tamil Nadu, people are given free T.Vs and laptops. Where did this money come from? All these are different manifestations of corruption. A very effective way to end corruption is to reduce the money power in elections. Crores of rupees are deposited as black money by many influential people abroad.This unaccounted money should be brought back and if it is done, this black money alone can provide the necessary funds required for the construction of metros in all the states of India. These reformations if enforced can provide that extra impetus needed to curb corruption along with the Lokpal bill. The Lokpal bill is cent percent legitimate and it upholds the spirit of the constitution because its main aim is to create a corruption- free India. If by any chance it is against any article of the constitution, it is better to amend the constitution rather than the bill because of its most noble cause. The 2G spectrum case, Adharsh Bhavan Colony, commonwealth games are the different issues which we have been hearing in the last few months which has made India a laughing stock in the comity of nations. Let us use the Jan Lokpal bill wisely, sealing its loopholes and see the ultimate result. Let us hope for the best. Corruption in India has made inroads in all fields of life. Corruption is present in politics, the bureaucracy, corporate and private sectors and is the root cause for most of the problems that plague India. Since the last year, the issue has been widely debated and there has been a considerable mass mobilization against corruption by social activist Sri Anna Hazare and his team members. The Government of India established a Group of Ministers (GoM) in January 2011 to consider measures to tackle corruption. It has submitted two reports. In pursuance of this, 1. Government has directed that requests for sanction of prosecution are to be decided upon by the competent authority within a period of three months. 2. Government decided that for all officers of the central government above the rank of Joint Secretary, the competent authority to approve initiation of  enquiry/investigation under Section 6A of the Delhi Special Police Establishment Act will be the Minister-in-charge in the Government of India. 3. Government has also accepted the recommendation of the GoM to put in place regulatory parameters for exercise of discretionary powers by Ministers and to place them in public domain 4. A comprehensive ‘Lokpal and Lakyuktas Bill, 2011’ was passed by the Lok Sabha this year. 1. ‘The Whistle Blowers Protection Bill 2011’ intended to provide protection to whistle-blowers, was passed by the Lok Sabha and is presently with the Rajya Sabha. 2. India ratified the United Nations Convention Against Corruption in May, 2011. The Convention has entered into force for India on 8th June 2011. With a view to ensuring full compliance with this Convention, ‘The Prevention of Bribery of Foreign Public Officials and Officials of Public International Organizations Bill 2011’ was introduced in the Lok Sabha. The Report of the Parliamentary Standing Committee on the Bill is under consideration of the Government.

Bram Stoker’s Dracula - 1087 Words

In the 19th century, this basis of scary and thriller books started to emerge. This essay will be about who Dracula enticed women, how his detainer was unsettling and demonic. How the era in which the novel was written plays a part in the ideas of Dracula and how behaves; with such things as women, food, and Harker. The Victorian era definitely influenced the writing of the time through reflections of exploitation of women and a certain darkness in ones self, also explains of mystery and suspense. Abraham (Bram) Stoker was born in Dublin in 1847, the third of seven children. As a child he was sickly and bedridden. To entertain him, his mother would tell him horror stories. He overcame his illness and, by the time he entered Trinity†¦show more content†¦The reader can tell when Harker has let his control slip out of his own grasp, when he says things such as â€Å"I shall fear to doubt what he may say† (Stoker, 49). He is scared at The Count’s castle because he does not know him well, only knows of him and also because he does not know what he is capable of. A vigorous scene that Harker encountered as he awoke: â€Å"As my eyes opened involuntarily I saw his strong hand gasp the slender neck of the fair women†¦ blue eyes transformed with fury, the white teeth champing with rage†(Stoker, 51). For a person who keeps to him self, Count has vaulted hidden strength. Once he had witness this it changed his complete perspective on The Count. Dracula’s enticement in woman had met them with a deathly cost, which appears in this quote: â€Å"You are but mortal woman. Time is now to be dreaded-since once he put that mark upon your throat(Stoker, 347). Women are a quite big topic in Dracula and have many acts between them and vampires. There are also many references to women’s true purity when Dracula says â€Å"unequalled sweetness and purity† (Stoker 224). 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Performance Management in Reliance Life Insurance - Free Essay Example

Sample details Pages: 4 Words: 1326 Downloads: 8 Date added: 2017/06/26 Category Management Essay Type Research paper Did you like this example? In this project I am going to talk about Performance management which I faced when I was doing job with Reliance Life Insurance as a sales manager. The sales job is based on performance based and a person should be high motivated to achieve the given targets if he is not motivated he will not perform well and this is a loss for him as well as for company also. I faced lots of problem at my work place because there was a big preacher of work and no time to do that and my advisor were not that much efficient to get good business for the company. Don’t waste time! Our writers will create an original "Performance Management in Reliance Life Insurance" essay for you Create order Reliance company triad to motivate his advisor by giving different training. Many people are facing the same problem at their work place and this is very important part of our life. There are some other problems which come in the performance management which leads to failure. In this project I will relate performance management with different motivation theories and problems in performance management, behaviour of the individual which affect this in different way. Finding the solution of motivation to perform well and what manager should do to motivate his employee to work hard. Introduction In sales job people are facing so much performance preacher and motivation is playing a big role to achieve the target and helping to improve their performance. Performance management is the how people are working to towards their objective (performance management). Objective can be short-term or annual; the important is how is the balance between defining what the organisation requires to be achieved and what is the motivation towards achieving target [1] (The motivation hand book, Hollyforde and Whiddett, pg- 217). Performance is based on individual behaviour. According Susan M. Heathfield Performance management is a work environment which we create for those people who are enabled to perform beat as per their ability. Performance management starts with job with whole work system and its and when employee leave the job [4].In other word we can say the performance management is contribution of effective management by individual or team to achieve high level of organisation perform ance [2].overall we can say the performance management is important in every organization and to do it effectively motivation is very important. Company Introduction My company was Reliance Life Insurance which deals in life insurance business. Company has many branches in India and many employees working in this company. As sales manager we have to make our own advisor to get business. Company started in 2006 with investment of 11 million dollar. Structure- The organization structure of the company as branch level is Branch Manager is on the top level of the branch and then Sales manager and the Advisor. Branch manager take daily report from sales manager and the sales manager take business from the advisor and its a tough marketing job to take business from the advisor because of the high competitive market. Sales manager has to motivate his advisor to get good business. Sales job is a performance based job if you perform well you will get good inactive, rewards, promotion. You will get this if you achieve your given targets and if you are highly motivated. The issue or Problems- The insurance company itself passing through different advisor problems because only advisor get business from the market and they must be responsible for their work. To motivate advisor company followed the McGregor X theory of motivation. Advisor on the other hand suffered from the hygiene factor and to resolve this company use theory which given by the Frederick for motivation. The expectancy theory for high moral and there expectation from there work to increase business of the company. Take all issue of the advisor and apply different theory of motivation can help to improve performance. THE X THEORY OF MOTIVATION BY MCGREGOR According to x theory of McGregor, average employee dont like to work because he is directed, controlled, corrected towards organization long-term goal. People try to work on that why so that they can avoid responsibility. They run from their responsibility because they dont get know the benefits of the good work. In my company we facing there problem because of this system going on the X theory of McGregor and the company assume that advisor do not want to work because they were not trained and they were highly demotivated because lake of training and no clear organization goal. The management realise the situation and tried to resolve this by giving high training of business and motivation. THE EXPECTANCY THEORY OF MOTIVATION- The expectancy theory of motivation says that work react according to the force of environment. Course of action depends on person to person, perceived action lead people to choose their action and in the possible alternative people use rational choices. Its a subjective probability; the act of the person will lead to a certain outcome. There are many factors that shows that weather a person perform as desired expectancy theory formulates this uncertainty as effort of performance expectancy, only hard work gives outcome. The second theory says that performance followed by the outcome. This outcome includes awards, promotion, pay increase and bonus. The third theory is valence. It has a range of value expressing the degree of avoidance or attraction which shows that the person is associate with the income. The function of motivation is F=V X I X E and this is based on assumptions. The effect of valence in Reliance Life Insurance Company and by motivational point of view can sa y that there was low morale level in the advisor and on fair input by them. The expectancy level was also very low because there was no reward for the good work. If any advisor doing good job he got treated same as other low performer advisor. This behaviour increase dissatisfaction among the good advisors. TWO FACTOR MOTIVATION THEORY BY HERZBERG- American psychologist Frederick Herzberg develops the theory of job enrichment at first and it say the different factor between the job satisfaction and job dissatisfaction. The first factor is about motivator as known as job or content factor and the second factor is known as hygiene factor or organizational context factor. The advisor of the Reliance Company were unskilled and their work satisfaction dependent upon hygiene factor. Insurance company need to redesign the job to increase the business by motivation which lead the performance improvement, absence of hygiene factor and the reward system in the company and thats why the advisor were not satisfied with job. Advisor were not satisfied with this at all because other factor like socioeconomic, personal factor also affect this and the absence of hygiene factor like irregularity in commission, rewards etc. also there. The company policy in this mater was not good and the expectancy level of the sales manager and the advisor c ame down very low. GOAL SETTING THEORY OF MOTIVATION OR TASK MOTIVATION THEORY The immediate relationship between employees pay and performance is goal setting theory. There are different preposition in goal setting theory. This preposition lead certain specific goal which followed by motivational techniques. Difficult goal According to E.A.Locke More difficult goal result in higher level of performance then easy goals. Specific goal Specific goals produce higher level of performance than general goals. This goals shows performance. Behavioural intention This theory is the intention to make a certain task choice or to respond in a certain way. Knowledge of result For the effective goal setting the feedback is very important. As per the company point the management should know the result of their decision. Summary/contents Introduction Terms of reference the issue or problem Exploration and investigation of the problem explaining fully the implication and effects of this behaviour Underpinning management knowledge and issues refer to your course notes for these or a suitable organisational behaviour textbook or journal article Findings and analysis Conclusions Recommendations References and Bibliography Appendices