Communication and Assessment in Nursing Essay

The structure of this exposition is intended to show the significance of relationship focused correspondence. Anyway it will start with a short meaning of the basic ideas characteristic for the subject of remedial correspondence, particular helpful medical caretaker quiet relationship. From there on, it will concentrate on verbal and nonverbal correspondence, tuning in, getting, compassion and significant parts of secrecy and security. IntroJust as science sciences were received as the twentieth century clinical model, patient’s viewpoint into a relationship-focused correspondence has been proposed as proper for the 21st century. It is the clinical exchange that gives the key vehicle through which the skirmish of viewpoints is pursued and the remedial relationship is characterized (Roter D. 2000). In numerous respects, the essential test to the field is the advancement of remedial correspondence that will give a legitimate portrayal of the restorative relationship (Craven and Hirnle 2000). The motivation behind this article is to investigate the ramifications of restorative interchanges in the idea of the patient-nurture relationship and its appearance in routine of clinical practice. Helpful correspondence is characterized as the eye to eye procedure of communicating that centers around propelling the physical and enthusiastic prosperity of a patient (http://tpub.com/content/clinical ). Correspondence is a basic procedure while giving socially able nursing care and it must be restorative in nature to be viable. It includes the utilization of methods, for example, utilizing quiet, offering self, rehashing, reflecting, and looking for explanation to give some examples. Helpful correspondence includes showing a real enthusiasm for the individual imparting that is exhibited trough the utilization of a loose and agreeable body act. Remedial correspondence requires the parts of sympathy, positive respect, and a positive feeling of self (Craven and Hirnle 2000). Be that as it may, no single definition might catch the rich and complex natureâ of the connections among patients and medical caretakers. Every relationship is particular, in light of the fact that both patient and medical attendant are unmistakable and the manner in which they connect and relate is novel (Parbury 2006). The remedial medical attendant/customer relationship remains at the center of wellbeing nursing. Through the foundation of this relationship, medical attendants are obviously fit as specialists to lead customers toward achieving their wellbeing objectives (Parbury 2006). Remedial connections among patients and medical caretakers are shaped in most of circumstances. In this sort of connections nurse’s point of view is essentially that the patient is a patient, yet there is additionally acknowledgment and comprehension of the patient as the individual (Parbury 2006). There are hardly any similitudes between the remedial relationship and kinship. It’s essential to both to have worth, invitingness, trust, care, trustworthiness and regard. A few contrasts in qualities and perspectives can ruin both just as poor correspondence techniques. A sentiment of fulfillment is imperative to both and furthermore transference (includes customers emotions and acting toward the specialist as they did to others previously, mother/father for instance) can happen in both ( Craven and Hirnle 2000). Let’s investigate contrasts between the restorative relationship and companionship. Agreement. An agreement understood on misuse is typically haggled among customer and laborers and may incorporate installment together they concur on. Cutoff points are set while in fellowship there is typically no money related prize or agreements traded (Craven and Hirnle 2000). Points. In helping relationship there are explicit objectives. Companionship then again, doesn't normally have settled upon objectives, it’s typically unconstrained. Core interest. Helpee’s needs are the focal point of consideration in the helping relationship-the assistant transiently sets aside close to home needs. Interestingly, kinship for the most part implies that common needs are met in sharing manner (Beck and Polite 2004). Time. Helpful relationship require time that is arranged, restricted and at times planned. Moreover time is limited and maybe haggled by an agreement. Time in fellowships is for the most part unconstrained and will in general have less cutoff points (Parbury 2006). Objectivity. Restorative connections necessitate that the assistant endeavors to be objective, and to act in client’s eventual benefits. Objectivity is for the most part unimaginable in companionships because of the way that personal responsibility is to a great extent central (Gladys, Husted and Husted 2001)Acceptance. The partner attempts to acknowledge the customer in helpful relationship consequently can comprehend the conduct of forcing worth and decisions. Then again kinships generally end when contrasts in qualities or interests become excessively extraordinary. After effectively tuning in to a patient it is normal for a medical attendant to react verbally. The nurse’s starting verbal reactions set the heading for additional cooperation. Since there is an assortment of potential approaches to react, attendants must guarantee that their verbal reactions move the relationship an ideal and expected way (Parbury 2006). Decision of the reaction depends on knowledge into how it might influence the patient, the association and the relationship. A medical caretaker who has this knowledge and mindfulness is in the best situation to react in the way that the two matches the present circumstance and understands the response’s wanted purpose (Parbury 2006). Nonverbal reactions are significant and the capacity to perceive and decipher this sort of reactions relies on predictable improvement of perception aptitudes. As we keep on developing in our job and duties in the medicinal services group, both clinical information and comprehension of human conduct will likewise develop (Beck and Polit 2000). Our development in both information and understanding will add to our capacity to perceive and decipher numerous sorts of nonverbal correspondence. Our affectability in tuning in with our eyes will become as refined as though worse than-tuning in with our ears (Roter 2000). Most as often as possible, the relationship and correspondence among persistent and nurseâ begins with a meeting, during which the medical caretaker gathers appropriate information about the patient (Parbury 2006). The adequacy of a meeting is affected by both the measure of data and the level of inspiration controlled by the patient (Parbury 2006). Variables that improve the nature of a meeting comprise of the participant’s information regarding the matter viable; his understanding, disposition, and listening aptitudes; and our thoughtfulness regarding both verbal and nonverbal signs. Politeness, understanding, and nonjudgmental perspectives must be shared objectives of both the interviewee and the questioner (Roter 2000). Understanding a patient’s experience, that is, seeing the world from patient’s point of view is one of the most fundamental parts of connecting and building connections in nursing (Parbury 2006). In persistent attendant relationship it is the nurse’s duty to make common understanding simpler, which would be the premise of significant collaboration. Shared comprehension requires time, exertion, responsibility and aptitude. It tends to be trying for one individual to comprehend and value another person’s reality. Tuning in and compelling going to would offer capacity to the medical caretaker to build up a comprehension of the patient’s experience (Parbury 2006). Compelling listening exhibits open acknowledgment of the patient, and urges the patient to connect. Tuning in to the patient and observing how he tunes in. Seeing how he gives and gets both verbal and nonverbal reactions. At the point when medical attendants tune in, simply tune in, they give cautious consideration to what they hear and watch, they center around what is communicated by the patient and they attempt to figure out what the patient is meaning. Viable listening requires receptivity, continued fixation and clever perception. The aptitude of listening is essential and significant to tolerant medical attendant relationship (Ooijen 2000). Listening pervades the whole relationship; if significant relational associations are to happen, listening must be occupied with all through each collaboration in restorative relationship (Parbury 2006). The aptitudes of explanation are utilized at whatever point attendants are dubious or uncertain about what patients are stating. Explanation is regularly accomplished trough the utilization of testing aptitudes. Now and again a rehashing of what a patient has said is a successful methods for explaining (Parbury 2006). Different occasions, medical caretakers explain what a patient has said by sharing how they may feel, think and see the circumstance on the off chance that they were the patient. Reflecting sentiments is valuable as well, since it passes on the nurse’s acknowledgment of sentiments and affirms the presence of feelings. At the point when used to gather data, helpful correspondence requires a lot of affectability just as mastery in utilizing talking with aptitudes (Roter 2000). To guarantee the distinguishing proof and explanation of the patient’s contemplations and sentiments, we, as the questioners, must watch his conduct. By utilizing the aptitudes of understanding medical attendants can show up at comprehending what patient is encountering and in this way are in a superior situation to be sympathetic. Sympathy is the capacity to see the world from another person’s view, and assume the point of view of another, while not losing one’s own viewpoint (Parbury 2006). The capacity to enter to another person’s experience to see it precisely and to see how the circumstance is seen from the client’s point of view is significant in restorative correspondence. By utilizing helpful correspondence, we endeavor to learn as much as possible about the patient comparable to his ailment. To achieve this learning, both the sender and the collector must be intentionally mindful of the classification of the data uncovered and got during the commu

SAT Essay Scoring The Real Story

SAT Essay Scoring The Real Story SAT/ACT Prep Online Guides and Tips It's 17-19 days after your SAT test date, so you sign into the CollegeBoard site, anxious to perceive how you did. You take a gander at your paper score and see...â€Å"9.† You check for more detail in your score report and see that Grader 1 gave you a 5, Grader 2 gave you a 4...and that is it. So how are SAT articles evaluated, and how might you utilize this data furthering your potential benefit? Peruse on to discover! include picture credit: Iffy clarifies everything by Quinn Dombrowski, utilized under CC BY-SA 2.0/Cropped and resized from unique. A Quick Look Into SAT Essay Grading The primary thing you do when you plunk down to take the SAT is the 25-minute paper area. When you compose your exposition (just as the remainder of the test), however, what befalls it? Your article is examined and transferred to a paper reviewing interface and graders at that point grade it. SAT articles are presently evaluated on a size of 1-6 by two graders, giving you an all out paper score out of 12. This score out of 12, alongside your crude score on the SAT Writing numerous decision questions, is calculated into your all out SAT Writing score. On the off chance that the two graders give you scores more than 1 point separated (for example in the event that one grader gives your article a 2 and another gives your exposition a 4), a third paper grader will be acquired to determine the issue. Your SAT article scores depend on each exposition grader’s impression of your paper in general, which is the reason the SAT article is supposed to be evaluated comprehensively. You don’t get a specific number of focuses taken off for language botches or for hierarchical issues, as you may on a typical school exposition. Truth be told, graders are prepared to overlook minor blunders in punctuation, sentence structure, etc. Significant note: In March 2016, the SAT exposition will be changing in configuration and reviewing structure, so a portion of this data may not be precise for that test. Return for refreshes! SAT Essay Scoring: Official Policy How are graders expected to review? I've duplicated the official arrangement from the CollegeBoard underneath: â€Å"The SAT Scoring Guide communicates the rules perusers use to assess and score the understudy papers. The guide is organized on a six-point scale. Since the SAT article is scored comprehensively, perusers are prepared to utilize the SAT Scoring Guide related to stay papers, which have been scored by agreement as agent models. The language of the Scoring Guide gives a reliable and intelligent structure for separating between score focuses, without characterizing explicit attributes or kinds of expositions that characterize each score point.† What's the SAT Scoring Guide? While I've composed another article that really expounds on the SAT paper evaluating rubric, I'll give a brisk overview of its central matters here: Perspective, Logic, and Support You should: Have a reasonable assessment on the brief (a theory). Ensure you obviously answer the exposition immediate, both in your presentation with a proposition articulation and throughout your article. For instance, take the paper brief were Are significant disclosures the consequence of concentrating on one subject? Your proposal (and your article) ought to unmistakably address this inquiry, ideally with a yes or no (SAT expositions that attempt to answer kind of truly, kind of no will in general be more vulnerable, since you just have 25 minutes to compose your article). You should: Use explicit guides to help your point. You can't simply say my perspective is right since it is and be finished. Rather, you have to utilize explicit models from history, writing, mainstream society/recent developments, or your own life to help your proposition. You should: Explain these particular models such that underpins your proposal. It's additionally insufficient to simply compose your theory and afterward depict a particular model - you likewise need to clarify why that model backings your proposal. Association and Focus You should: Keep your paper sorted out. This implies adhering to a reasonable article structure (with a presentation, body sections for every model, and an end) just as ensuring your musings are composed inside each passage. Jargon and Word Choice So as to score profoundly, you should: Use a wide assortment of jargon effectively. It's acceptable to utilize propelled jargon, yet just in case you're utilizing the words effectively. You can pull off a couple of blunders, however in the event that your statement decision starts to genuinely influence the significance of your sentences, your article score may drop. Sentence Structure So as to score exceptionally, you should: Use an assortment of sentence structures. As I've said in different articles, this is the region that I battle the most with under time tension. For whatever length of time that you don't begin various sentences in succession with a similar word (oh no) or compose sentences that all have the equivalent fundamental structure (for example Gandhi was an extraordinary pioneer. India was in a difficult situation. The world was watching.), in any case, you ought to be fine. Sentence structure, Etc. You should: Use standard composed English sentence structure. Once more, it's okay to make minor mistakes in sentence structure and accentuation in your article - graders are prepared to disregard minor issues. On the off chance that your exposition has predictable issues with syntax that make it hard to comprehend your thinking, notwithstanding, this will influence your article score. SAT Essay Grading in Practice Paper graders don’t grade dependent on how right your announcements are. This implies you can compose things like My companion was murdered by a polar bear since he didn't go to the instructional course about how to manage hold up under assaults or The Scopes Monkey Trial finished with Scopes being executed for his confidence in development and the graders should accept it as evident. My response when I previously took in this: WHAT. By what method would that be able to be valid?! So I researched further and found the reasons that lie behind this standard. Since SAT article scorers don’t have the opportunity to actuality check every single truth in every single exposition, they should take all that you write in your paper as obvious. Furthermore, the expressed reason for the SAT paper task is to show how viably you can create and communicate thoughts shortly. The CollegeBoard comprehends that under the time tension of a 25-minute article understudies will once in a while compose things like World War I occurred in the mid 1800s (rather than the mid 1900s). For whatever length of time that your announcements coherently bolster your theory, you're free (in spite of the fact that on the off chance that you compose things that don’t bode well that subvert your central matter, your exposition evaluation will endure). Second, while there’s nothing in the freely accessible authority rules that state to what extent every grader needs to review, interviews with and articles by previous SAT paper graders have given additional data about the evaluating procedure: if an exposition scorer takes longer than 2-3 minutes to review each article, she must be retrained. This procedure is irritating, as the grader needs to review a progression of pre-evaluated papers and ensure she's inside a state of the evaluation before she can return to reviewing real understudy papers. Graders may likewise be compelled to retrain on the off chance that they run into a prescored exposition that has been tossed in among the understudy papers and don't score it inside one purpose of the score. To dodge the entirety of this retraining, graders will here and there score in a range to remain erring on the side of caution. For instance, if an article is in any event a 4, a grader may score it a 5 since that evaluation is inside one purpose of a 6 OR a 4 (and may be flawless with a 5). Inside of a beet sugar plant demonstrating axes (CHS-2496) by Ashley Van Haeften, utilized under CC BY 2.0/Cropped from unique. These score results show the requirement for retraining. Let us return Grader 18927 to the tank. I don't get This' meaning for Your SAT Essay? Since you discover somewhat more about the official SAT paper evaluating approaches and the truth of SAT exposition reviewing, how might you utilize this data to compose higher-scoring papers? Don’t shroud your proposal. Graders go through 2-3 minutes for each exposition or, more than likely face a retraining punishment. They won't be glad on the off chance that they need to chase all over to discover your perspective, so express your postulation unmistakably in your presentation. Be composed. Once more, on the grounds that the grader is investing a short measure of energy in your paper, you need to make it simpler for her to follow your rationale. You can commit a couple of errors. For whatever length of time that mistakes in your language, accentuation, and spelling don’t fundamentally influence the comprehensibility of your article, your paper's graders won’t punish you for it. Likewise, as long as the realities you use in your paper coherently bolster your theory, it doesn't make a difference on the off chance that they're in reality evident or not. For example, you could totally change the plot of a novel like George Orwell's Animal Farm, and as long as the progressions you've appeared well and good, the graders must not punish you for it. What’s Next? Inquisitive about what norms SAT paper scorers are utilizing to review your article? Broadly expound on this point with my article on the SAT Grading Rubric. Since you know how your paper is scored, discover what's a decent SAT exposition score and contrast it with the normal SAT article score. Get more experiences on the SAT article with our techniques for the SAT paper, in light of accounts of previous SAT exposition graders. Need to improve your SAT score by 160? Look at our top tier online SAT prep program. We ensure your cash back on the off chance that you don't improve your ACT score by at least 4. Our program is completely on the web, and it tweaks what you study to your qualities and shortcomings. On the off chance that you preferred this SAT Essay exercise, you'll love our program.Along with increasingly definite exercises, you'll get your SAT expositions hand-evaluated by an ace teacher who will give you redid input on how you can improve. We'll additionally give you a bit by bit program to follow so you'll never be befuddled about what to concentrate straightaway. Look at our 5-day free preliminary:

You Heard It Here First

You Heard It Here First So last Friday, Baker House hosted their annual rock concert, Mega Band Party Plus. Each year, they host a big concert in their dining hall where they have a bunch of bands come bring down the house at the lovely cost of $0 for all the students. This years lineup included: Chicken Slacks The Howl Adrian Emberley and the Ladykillers Michael Dylan and the Sleepwalkers My freshman year, the headlining band was Piebald. They went on to become the greatest band of all time (well, not quite) but they did make a brief stint on MTV2. Just a few pictures from the concert. Another big concert coming in April will be Cake and unnamed opening act. Rumor has it that it will be matt pond PA. Well just have to wait and see about that though. Last fall, Hot Hot Heat came to campus. Last spring, we had Fabulous and Lloyd Banks. And the spring of my freshman year, we had Live. Next year, Im pushing for Chers 17th farewell tour or a Spice Girls reunion concert. Zigga Zig Ah. Post Tagged #Baker House

Twin Early Development Study Nature versus Nurture

Since people began to wonder about our history and making, there has been the question of why. Why do people do the things they do? Are these traits inherited by a person’s ancestors, or are they simply following what they observe? To begin, you must give credit to the two philosophers who initially sparked different opinions about these two ideas. Aristotle theorized, that humans are born into the world with a blank slate and their behavior and thoughts are due solely to experience (Ashcraft, 1998). That theory would suggest that humans learn their phobias, sexuality, gender association, and all other traits through the world that surrounds them. Plato, thought quite the opposite. He believed that believed that behaviors and knowledge were due to inborn factors. Although the view of Plato are heavily opposed today, there must be some connection in the way we as humans turn out. There is so much that is unknown that we come â€Å"prewired† with at birth. Who’s to say that a person is not born with a predisposition of their sexual preference, or in more recent years, the role of gender? I believe that both nature and nurture are responsible for the way one matures. You cannot overlook the fact that some people carry the traits of their ancestors, or the fact that in many situations, people are victims of circumstance. I think the more important question is which side has a larger role in the way people turn out. When assessing the character roles that nurture creates, you mustShow MoreRelatedNature Vs Nurture Debate1343 Words   |  6 Pagespsychologist since the phrase was created in 1869 is â€Å"Nature vs Nurture†. Although the debate was started well before then, 1869 was the first time it was tied to the debate. The nature vs nurture debate is over whether you get your behavior from genetics, what you inherited from your biological parents, or if they are learned characteristics, what you learn from the environment and what you get taught. The debate can be traced back to early western philosophy and is still relevant today. In theRead MoreNature Vs. Nurture Essay1612 Words   |  7 PagesNature vs. Nurture Essay Throughout many years, scientists have been debating about whether nature or nurture is the driving force that shapes a person’s cognitive abilities and personal traits. Before the ongoing debate can be explained, it is necessary to understand what nature and nurture actually are. Nature is loosely defined as the genetics one inherits and tendencies that influence development. Many things in an individual are hereditary, for instance; gender, disease, height, eye color,Read MoreNature Vs. Nurture : Addiction1102 Words   |  5 Pages Nature vs. Nurture: Addiction Introduction Psychology is a developing science which studies the mental functions, processes, and behaviors of an individual. In the science of psychology, many debates arise; nature vs. nurture is one of the most popular ones. These psychological debates are followed by research, backing up either nature or nurture or both. Nature suggest heredity impacts human psychological development; nurture suggests the environment impacts our psychologicalRead MoreThe Long Term Controversy Of Nature Versus Nurture860 Words   |  4 Pages Sexual orientation refers to the emotional, sexual, and romantic attraction to men, women, or both genders. It also refers to a person’s sense of identity based on those attractions. In the early years, to be labeled as a gay, lesbian, or bisexual was known to be a mental illness. In recent years, it has been determined that it is a normal aspect of sexuality. Determining how one has this specific trait is up in the air. With homosexuality growing, sexual orientation has been a major discussionRead MoreNature vs Nurture - Depression818 Words   |  4 Pageshas been an ongoing debate of nature versus nurture. Nature refers to genetics, inheritance and genes, and nurture refers to characteristics shaped by one’s environmental influences. For the purpose of this paper, the development of depression will be researched in terms of the nature versus nurture debate. Studies show that while some people are genetically predisposed to mood disorders, many people develop them thr ough environmental factors. However, a different study looked at the relationship andRead MoreJames Flynn s Creation Of The Flynn Effect925 Words   |  4 Pagesnumerical scores. Psychologists are currently still arguing whether intelligence is inherited or acquired. Nature is focuses more on genetics and hormones while. Nurture, on the other hand, focuses on external factors that have an influence on individuals. Regarding the intelligence debate in Psychology, the most important factor is nurture/environment. One piece of evidence that supports nurture in this debate is James Flynn’s creation of the Flynn effect. During the 1960s and 70s intelligence testsRead MoreNature Vs. Nurture : A Debate Within Psychology1344 Words   |  6 Pages1 Kaeezs Mark Lee F. Tonda PSY 100 Nature Vs. Nurture There s a debate within psychology about whether certain aspects of behavior are genetic or learned characteristics. Certain physical characteristics are genetic, like color of eyes, hair type, and skin color. Other things like driving, talking, or tying your shoes are learned. People wonder if personality and mental abilities are genetic or learned. There are good arguments for both the nurture, and nature side of these three issues: intelligenceRead MoreNature Vs. Nurture : An Individual s Criminal Behavior Essay1753 Words   |  8 PagesThe objective of this study is to examine whether it is nature or nurture who plays the most vital role in a human’s behavior, specifically an individual’s criminal behavior. Criminal behavior is defined as an act or failure to act in a way that violates public law. Some believe that criminal behavior can be identified as early as conception, meaning that criminal behavior is because of your genes. While others believe that one†™s upbringing and social learning environment directly contributes toRead MoreThe Debate On Nature Versus Nurture Essay969 Words   |  4 Pagesdetermine its form† (Fraser). The debate on nature versus Nurture has been a mystery for years now, constantly begging the question on what has a greater effect on the human development of humans. Is human behavior, ideas, and feelings innate or are they learned over time. Nature, or genetic influences, are formed before birth and shaped through early experiences. Genes are viewed as long and complicated chains that are present thought life and develop over time. Nature supporters believe that genes formRead MoreEssay Biological Explanations of Criminal Behaviour1357 Words   |  6 PagesCrime theories are still in a development stage; it is an evolutionary process that continues to this day. Crime is still a complex and misunderstood phenomenon with no concrete evidence when it comes to human behavior. Throughout time there have b een endless amounts of crime theories, few of which revolve around biological explanations. We have Cesare Lombroso and the Positive School who thought that criminals were genetically different from the rest of the general population, that they were biologically

Consciousness The Common Conception Of Consciousness

Growing up the common conception of what consciousness pertains to what is done with thought. However, when taking an in-depth examination of this topic, it appears that there is more to it than that. It is one of the most familiar concepts in the world, yet, it has a mysterious factor to it. Consciousness poses a baffling problem of the mind. It raises many questions surrounding its definition and furthermore how it correlates to everything else that we know today. Chalmers in his work (put name here) attempts to define what consciousness is and two problems that make it difficult to grasp. In addition, I will seek to derive a solution to the issue surrounding comprehending consciousness. Chalmers first seeks to define consciousness by examining the definition by Sutherland, who believed that the perceptions, thoughts and feelings or in other words awareness are the properties that encompass consciousness (Chalmers, year, pg.3). This definition does not seek to clarify what consciousness truly is. The issue with Sutherland definition is defining conscious experience in terms of primitive notions are then made fruitless – explaining matter and space is something much more fundamental (Chalmers, 1994, pg. 3). Chalmers does state that consciousness is ambiguous and is referring to a number of phenomena such as cognitive capacity or interpreting mental states (Chalmers, 1994, pg. 5). It can also be used synonymously with the term â€Å"awakeness† and is closely tied to attentionalShow MoreRelatedWhat Does It Be A Bat?1570 Words   |  7 Pagesstated by Thomas Nagel in his paper â€Å"What Is It Like to Be a Bat?† consciousness is what makes the mind- body problem really intractable (Reference). By this, he means that the relationships between the subject mind and the objective physical body are difficult to control or to deal with. Nagel states that without consciousness the problem seems less interesting, and with it, it seems impossible (Reference). Reduction has been a common method to attempt to link the relationship between the mind and theRead MoreWilliam James And Early American Psychology997 Words   |  4 Pagespsychology implied that consciousness functioned as an aid in survival. His notions regarding consciousness, habit, and emotions (among others) revolutionized psychology and contributed to the beginnings of functionalism. In opposition to Wundt’s and Titchener, James stressed that thought could not be broken down into sensations. Instead, he insisted that thinking should be studied itself. James proposed a 5-part theory of thought that forever changed the conceptions regarding consciousness. In fact, James’sRead MoreSummary Of Lifting The Veil By Rabindranath Tagore1730 Words   |  7 Pagesindividual person. It describes essential qualities that constitute a person s uniqueness or essential being. It can be considered the basic nature of a person which endures that ‘being’ which is the source of consciousness for an individual s thoughts and actions, and unifies ‘consciousness’ over time. It plays an integral part in human motivation, cognition, affect, and social identity and constantly evolves due to the complexities of cultures and societies. It is dependent on the culture that theRead MoreThe Moment Of Conception Of The Zombie1719 Words   |  7 PagesThe Moment of Conception For an object to be considered monstrous, it must deviate from its natural order. It is something unnatural. When a family is enjoying a nice walk in the park and a flesh-eating zombie suddenly approaches them, the zombie is considered monstrous, a monstrosity; a monster. Zombies do not fit in the normative expectations for human beings. How and when these zombies deviate from the expectations for humans is the great question. When does a zombie become a zombie? TheRead More Consciousness Essay example1315 Words   |  6 PagesConsciousness To define such a universally experienced phenomena as consciousness may seem on the most superficial level rather unnecessary. Yet a more scientific, and at times philosophical, investigation into the phenomena demands some sort of confirmed interpretation which supercedes any such common understanding. For our purposes the content of consciousness may be deemed those things of which one is aware and thus can report. Thinking, as well, and the higher-level mechanisms associatedRead MoreSpace And Nature On Campus Essay959 Words   |  4 Pagesinformation is conveyed to me. (Interview 4, 16:45) Jonathan’s image of his bedroom desk, along with images of other spaces discussed below, can be found in Appendix 3. In the same manner as before, I will employ Eliadian thought to illuminate sacred consciousness in this narrative. 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People from multiple nations have distinct consciousness or different perception of numerous topics including politics, medicine, society, etc. These differences may not necessarily be negative. For instance, the goal of any debate is not to find the right answer, but to reach an agreement. Nevertheless, Watters’ â€Å"The Mega-Marketing of Depression in Japan† is an example where differences inRead MoreCritically Assess Du Bois s Conception Of Double Consciousness1862 Words   |  8 PagesCritically assess Du Bois’s conception of double consciousness. Can double consciousness be dissolved and, if so, how? This essay will firstly outline exactly what the Du Boisian concept of double consciousness is, before critically assessing Du Bois’s thoughts and evaluate if his theory of double consciousness is something which can be dissolved. I will look at some objections to Du Bois’s double consciousness, paying particular attention to Reed’s complaints of historical contingency. It willRead MoreRethinking Marx’s Concept of Class: Does the emergence of the so-called identity politics indicating the â€Å"fall† of class politics?1716 Words   |  7 PagesMarx-Engels because of their tendency to homogenize the labours all over the world as an entity of working class that is solid in their shared feelings of solidarity, consciousness and struggle. Harvey noted that the sense of national differences constructed by capitalism could ‘destruct’ their proletariat/working class collective consciousness in the effort of striving against capitalism (Ritzer , Modern Sociological Theory : 218). As Marx noted that class is social and political entity that plays major

Role and Functions of Stock Exchange in India Free Essays

string(92) " market capitalization of around  US\$1  trillion  and over 1,652 listings as of July 2012\." A PRESENTATION REPORT ON ROLE AND FUNCTIONS OF STOCK EXCHANGE INTRODUCTION A  stock exchange  is a form of  exchange  which provides services for  stock brokers  and  traders  to trade  stocks,  bonds, and other  securities. Stock exchanges also provide facilities for issue and redemption of securities and other financial instruments, and capital events including the payment of income and  dividends. Securities traded on a stock exchange include  shares  issued by companies,  unit trusts,  derivatives, pooled investment products and  bonds. We will write a custom essay sample on Role and Functions of Stock Exchange in India or any similar topic only for you Order Now To be able to trade a security on a certain stock exchange, it must be listed there. Usually, there is a central location at least for record keeping, but trade is increasingly less linked to such a physical place, as modern markets are  electronic networks, which gives them advantages of increased speed and reduced cost of transactions. Trade on an exchange is by members only. The initial offering of stocks and bonds to  investors  is by definition done in the  primary market  and subsequent trading is done in the  secondary market. A stock exchange is often the most important component of a  stock market. Supply and demand in stock markets are driven by various factors that, as in all  free markets, affect the price of stocks (see  stock valuation). There is usually no compulsion to issue stock via the stock exchange itself, nor must stock be subsequently traded on the exchange. Such trading is said to be  off exchange  or  over-the-counter. This is the usual way that  derivatives  and  bonds  are traded. Increasingly, stock exchanges are part of a global market for securities STOCK EXCHANGE DEFINITION According to Husband and Dockerary â€Å"Stock exchanges are privately organized markets which are used to facilitate trading in securities. * According to securities contract ( regulation ) act of 1956 â€Å"An association, organization or body of individuals, whether incorporated or not, established for the purpose of assisting, regulating and controlling business in buying, selling and dealing in securities. † Features of Stock Exchange 1. Market for securities  : Stock exchange is a market, where securities of corporate bodies, government and semi-government bodies are bought and sold. . Deals in second hand securities  : It deals with shares, debentures bonds and such securities already issued by the companies. In short it deals with existing or second hand securities and hence it is called secondary market. 3. Regulates trade in securities  : Stock exchange does not buy or sell any securities on its own account. It merely provides the nec essary infrastructure and facilities for trade in securities to its members and brokers who trade in securities. It regulates the trade activities so as to ensure free and fair trade 4. Allows dealings only in listed securities  : In fact, stock exchanges maintain an official list of securities that could be purchased and sold on its floor. Securities which do not figure in the official list of stock exchange are called unlisted securities. Such unlisted securities cannot be traded in the stock exchange. 5. Transactions effected only through members  : All the transactions in securities at the stock exchange are effected only through its authorised brokers and members. Outsiders or direct investors are not allowed to enter in the trading circles of the stock exchange. Investors have to buy or sell the securities at the stock exchange through the authorised brokers only. 6. Association of persons  : A stock exchange is an association of persons or body of individuals which may be registered or unregistered. 7. Recognition from Central Government  : Stock exchange is an organised market. It requires recognition from the Central Government. 8. Working as per rules  : Buying and selling transactions in securities at the stock exchange are governed by the rules and regulations of stock exchange as well as  SEBI Guidelines. No deviation from the rules and guidelines is allowed in any case. 9. Specific location  : Stock exchange is a particular market place where authorised brokers come together daily (i. e. on working days) on the floor of market called trading circles and conduct trading activities. The prices of different securities traded are shown on electronic boards. After the working hours market is closed. All the working of stock exchanges is conducted and controlled through computers and electronic system. 10. Financial Barometers  : Stock exchanges are the financial barometers and evelopment indicators of national economy of the country. Industrial growth and stability is reflected in the index of stock exchange. EXISTING STRUTURE OF STOCK EXCHANGE IN INDIA STOCK EXCHANGE OTHERS NSE BSE BOMBAY STOCK EXCHANGE The Bombay Stock Exchange is the oldest exchange in Asia. It traces its history to the 1850s, when four Gujarati and one Parsi stockbroker would gather under banyan trees in front of Mumbai’s Town Hall. The location of these meetings changed many times, as the number of brokers constantly increased. The group eventually moved to Dalal Street in 1874 and in 1875 became an official organization known as ‘The Native Share amp; Stock Brokers Association’. In 1956, the BSE became the first stock exchange to be recognized by the  Indian Government  under the Securities Contracts Regulation Act. The Bombay Stock Exchange developed the  BSE SENSEX  in 1986, giving the BSE a means to measure overall performance of the exchange. In 2000 the BSE used this index to open its derivatives market, trading SENSEX futures contracts. The development of SENSEX options along with equity derivatives followed in 2001 and 2002, expanding the BSE’s trading platform. Historically an open outcry floor trading exchange, the Bombay Stock Exchange switched to an electronic trading system in 1995. It took the exchange only fifty days to make this transition. This automated, screen-based trading platform called BSE On-line trading (BOLT) currently has a capacity of 8 million orders per day. The BSE has also introduced the world’s first centralized exchange-based internet trading system, BSEWEBx. o. in to enable investors anywhere in the world to trade on the BSE platform. The BSE is currently housed in  Phiroze Jeejeebhoy Towers  at  Dalal Street,  Fort area. NATIONAL STOCK EXCHANGE The  National Stock Exchange  (NSE) is  stock exchange  located at  Mumbai,  India. It is in the top 20 largest stock exchanges  in the world by  market capitalization  and largest in India by daily turnover and number of trades, for both equities and derivative trading. NSE has a market capitalization of around  US$1  trillion  and over 1,652 listings as of July 2012. You read "Role and Functions of Stock Exchange in India" in category "Papers" Though a number of other exchanges exist, NSE and the  Bombay Stock Exchange  are the two most significant stock exchanges in India, and between them are responsible for the vast majority of share transactions. The NSE’s key index is the  Samp;P CNX Nifty, known as the NSE  NIFTY  (National Stock Exchange Fifty), an index of fifty major stocks weighted by market capitalization. NSE is mutually owned by a set of leading financial institutions, banks, insurance companies and other financial intermediaries in India but its ownership and management operate as separate entities. There are at least 2 foreign investors  NYSE Euro next  and  Goldman Sachs  who have taken a stake in the NSE. As of 2006, the NSE  VSAT  terminals, 2799 in total, cover more than 1500 cities across India. In 2011, NSE was the third largest stock exchange in the world in terms of the number of contracts (1221 million) traded in equity derivatives. It is the second fastest growing  stock exchange  in the world with a recorded growth of 16. 6%. ROLE OF STOCK EXCHANGE * Effective Mobilisation Of Savings Stock exchanges provide organised market for an individual as well as institutional investors. They regulate the trading transactions with proper rules and regulations in order to ensure investor’s protection. This helps to consolidate the confidence of investors and small savers. Thus, stock exchanges attract small savings especially of large number of investors in the capital market. * Promoting Capital formation The funds mobilised through capital market are provided to the industries engaged in the production of various goods and services useful for the society. This leads to capital formation and development of national assets. The savings mobilised are channelised into appropriate avenues of investment. Wider Avenues of investment Stock exchanges provide a wider avenue for the investment to the people and organisations with investible surplus. Companies from diverse industries like Information Technology, Steel, Chemicals, Fuels and Petroleum, Cement, Fertilizers, etc. offer various kinds of equity and debt securities to the investors. Online trading facility has brought the stock exchange at the doorsteps of investors through computer network. Diverse type of securities is made available in the stock exchanges to suit the varying objectives and notions of different classes of investor. Necessary information from stock exchanges available from different sources guides the investors in the effective management of their investment portfolios. * Liquidity of investment Stock exchanges provide liquidity of investment to the investors. Investors can sell out any of their investments in securities at any time during trading days and trading hours on stock exchanges. Thus, stock exchanges provide liquidity of investment. The on-line trading and online settlement of demat securities facilitates the investors to sellout their investments and realise the proceeds within a day or two. Even investors can switch over their investment from one security to another according to the changing scenario of capital market. * Investment priorities Stock exchanges facilitate the investors to decide his investment priorities by providing him the basket of different kinds of securities of different industries and companies. He can sell stock of one company and buy a stock of another company through stock exchange whenever he wants. He can manage his investment portfolio to maximise his wealth. * Investment safety Stock exchanges through their by-laws, Securities and Exchange Board of India (SEBI) guidelines, transparent procedures try to provide safety to the investment in industrial securities. Government has established the National Stock Exchange (NSE) and Over The Counter Exchange of India (OTCEI) for investors’ safety. Exchange authorities try to curb speculative practices and minimise the risk for common investor to preserve his confidence. * Financial resources for public and private sectors Stock Exchanges make available the financial resources available to the industries in public and private sector through various kinds of securities. Due to the assurance of liquidity, marketing support, investment safety assured through stock exchanges, the public issues of securities by these industries receive strong public response (resulting in oversubscription of issue). * Funds for Development Purpose Stock exchanges enable the government to mobilise the funds for public utilities and public undertakings which take up the developmental activities like power projects, shipping, railways, telecommunication, dams amp; roads constructions, etc. Stock exchanges provide liquidity, marketability, price continuity and constant evaluation of government securities. * Indicator of Industrial Development Stock exchanges are the symbolic indicators of industrial development of a nation. Productivity, efficiency, economic-status, prospects of each industry and every unit in an industry is reflected through the price fluctuation of industrial securities on stock exchanges. Stock exchange sensex and price fluctuations of securities of various companies tell the entire story of changes in industrial sector. Barometer of National Economy Stock exchange is taken as a Barometer of the economy of a country. Each economy is economically symbolized (indicators) by its most significant stock exchange. New York Stock Exchange, London Stock Exchange, Tokyo Stock Exchange and Bombay Stock Exchange are considered as barometers of U. S. A, United Kingdom, Japan and India respectively. At both national and international level these stock exchanges r epresent the progress and conditions of their economies. Functions FUNCTIONS OF STOCKEXCHANGE * Continuous and ready market for securities Stock exchange provides a ready and continuous market for purchase and sale of securities. It provides ready outlet for buying and selling of securities. Stock exchange also acts as an outlet/counter for the sale of listed securities . * Facilitates evaluation of securities Stock exchange is useful for the evaluation of industrial securities. This enables investors to know the true worth of their holdings at any time. Comparison of companies in the same industry is possible through stock exchange quotations (i. e price list). * Encourages capital formation Stock exchange accelerates the process of capital formation. It creates the habit of saving, investing and risk taking among the investing class and converts their savings into profitable investment. It acts as an instrument of capital formation. In addition, it also acts as a channel for right (safe and profitable) investment. * Provides safety and security in dealings Stock exchange provides safety, security and equity (justice) in dealings as transactions are conducted as per well defined rules and regulations. The managing body of the exchange keeps control on the members. Fraudulent practices are also checked effectively. Due to various rules and regulations, stock exchange functions as the custodian of funds of genuine investors. * Regulates company management Listed companies have to comply with rules and regulations of concerned stock exchange and work under the vigilance (i. e supervision) of stock exchange authorities. * Facilitates public borrowing Stock exchange serves as a platform for marketing Government securities. It enables government to raise public debt easily and quickly. * Provides clearing house facility Stock exchange provides a clearing house facility to members. It settles the transactions among the members quickly and with ease. The members have to pay or receive only the net dues (balance amounts) because of the clearing house facility. * Facilitates healthy speculation Healthy speculation, keeps the exchange active. Normal speculation is not dangerous but provides more business to the exchange. However, excessive speculation is undesirable as it is dangerous to investors amp; the growth of corporate sector. * Serves as Economic Barometer Stock exchange indicates the state of health of companies and the national economy. It acts as a barometer of the economic situation / conditions. * Facilitates Bank Lending Banks easily know the prices of quoted securities. They offer loans to customers against corporate securities. This gives convenience to the owners of securities. List of Stock Exchanges In India  » Bombay Stock Exchange  » National Stock Exchange Regional Stock Exchanges  » Ahmedabad  » Bangalore  » Bhubaneshwar  » Calcutta  » Cochin  » Coimbatore  » Delhi  » Guwahati  » Hyderabad  » Jaipur  » Ludhiana  » Madhya Pradesh Madras  » Magadh  » Mangalore  » Meerut  » OTC Exchange Of India  » Pune  » Saurashtra  » Kutch  » UttarPradesh  »Vadodara CONCLUSION Stock exchange is indispensible for the smooth and orderly functioning of corporate sector in a free market economy. A stock exchange need not be treated as a place for speculation or a gambling den. It should act as a place for safe and profitable investable. , for this effective control on the working of stock exchange is necessary. This will avoid misuse of this platform for excessive speculation, scams and other undesirable and anti social activities. Thus, stock exchange serves the nation in several ways through its diversified economic services which include imparting liquidity to investments, providing marketability, enabling evaluation and ensuring price continuity of securities. Thus we can say that Stock exchange is the mirror of economy REFERENCES * Financial Management – I. M Pandey * Financial Management – Prasanna Chandra * Business studies – B. S Raman * Business studies – P. K Lasar * http://moneycontrol. com * http://investopedia. com * http://wikipedia. com * http://kalyan-city. blogspot. in How to cite Role and Functions of Stock Exchange in India, Papers

Performance Appraisal Essay Example

Performance Appraisal Essay A study of the Human Resource issue of Nakilat Damen Shipyards Qatar Table of Contents 1. 0Executive Summery5 2. 0Introduction of the Company6 3. 0The background of the issue – high employee turnover6 4. 0The impact on the business7 4. 1 Drop in production7 4. 2 Cost for the company7 4. 3 Time7 4. 4 Team dynamics8 4. 5 Continuity8 5. 0Root cause of the issue9 6. 0The Human Resource issue10 7. 0Impact on Human resource11 7. 1 Low employee morale11 7. 1 Loss of Trained workforce12 7. 2 Cost for new recruitment12 8. 0Conclusion13 9. 0References16 ANNEX A. NDSQ Performance appraisal (iniciated in Nov 2012)17 Executive SummeryHuman Resource management refers to the policies, practices, and systems that influence employees’ behavior, attitudes, and performance. There are some important human resource practices which are shown in figure 1, that influence the company performance. | |Strategic HRM | | | | |Analysis and design of work |HR planning |Recruiting |Selecting |Training and development |Compensation |Performance management |employee relations | | |Company Performance | | | | | | | | | | | | | | |Figure 1: Human Resource Management PracticesThe roles of the Human Resource functions include three product lines, Administrative role, Business partner and Strategic partner. In most companies the Human resource department handles mainly the administrative part, but for a growth of the company performance the human resource manager needs to focus on all the three areas. In my report I would like to discuss an issue that the company faced that involved a human resource practice. I will further elaborate how this issue has influenced the company and its functions and the solutions that could be used to solve the problem.Note: As I have left the company in 2012 March, the statistics includes in my report are when I was working in the company and the problem faced was during that time. In order to manage performance effectively the following human resource p ractices should be in place so that the performance of the employees can be measured and reviewed accordingly in order for them to know where they stand in the organization and what improvements need to be done so that they will be more competent in their job role.Performance management is the means through which managers ensure that employee’ activities and outputs are congruent with the organization’s goals. Performance appraisal is the process through which an organization gets information on how well an employee is doing his job. Performance feedback is the process of providing employees information regarding their performance effectiveness. Introduction of the Company Nakilat Damen Shipyards Qatar (NDSQ) which was established in 2010, which was joint venture of Qatar Gas Transport Ltd (Nakilat) and Damen Shipyards Qatar Holding BV (Damen Shipyards Group).As a startup company we had a small number of employees initially. The work force was recruited in batches of a bout 20 persons, from India and Philippines. The company staff was consists of a different mix of cultures. The background of the issue – high employee turnover The company which was started in 2010 with the initial number of 80 employees increased the head counts within a year to more than 200 employees. According to the statistics from Human resource department which was in January 2011, the total number of employees was 328 and the End of Service (EOS) was 62.Which creates a problem in the company as the turnover comes to about 15%. From this number most were the initial employees who had started off with the company and grown learning and performing from the beginning of the project. The impact on the business Nakilat Damen Shipyards Qatar, as a new company was given the initial project of completing the ‘LOR Barge’ for Qatar Gas Transport Company. This project was started with the incorporation and was due to be launched in mid 2012, which was delayed to Sep tember 2012.The high turnover in the early stage of the company with the employees who know their work better had a major contribution for this factor. This slows the business performance. 4. 1 Drop in production The overall productivity of the work place tends to decrease with the high turnover. Since a new employee has a period of adjustment, he won’t complete tasks as quickly as the person he replaces. Group projects that rely on the new team member may slow down, which effects experienced employees’ productivity levels. 4. 2 Cost for the companyEach employee that resigns cost the company, the cost for visa training them of the process and procedure. These employees were hired during the initial stages and they were exposed to the environment form the beginning and the hands on experience they have had was unique. When new employees are hired the earlier cost for recruitment, advertising need to be spent again. 4. 3 Time Managers and human resources staff spend time conducting exit interviews, advertising the job, recruiting candidates and interviewing. The new employees may take several months to fully learn the job and achieve competency in the position. 4. 4 Team dynamicsWhen the staff changes frequently, the employees who stay have a difficult time building a positive team dynamics. A group of employees learns to work together, only to have one or more members leave. Teams need to be rearranged regularly. 4. 5 Continuity High turnover rate affects the continuity of production, which will lead to production drops. Root cause of the issue When the issue is put through the ‘why why analysis’, the root cause was found to be that there was no proper performance management system, in order to measure and manage the performance of the individuals in order to motivate and increase the production.Cause : High employee turnover Why : Job dissatisfaction Why : Absenteeism Why : change of attitudes/ behaviour Why : No recondition / job se curity Why : salary / benefit packages Why : change of levels Why : No proper appraisal Why : No proper performance management The reasons for voluntary turnover can be grouped as follows; salary related reasons (salary, benefit packages, and staff levels). In order to gather more accurate information the analysis can be done by exit interviews and conduct a survey of former employees. The Human Resource issueThe high turnover was mainly from the employees that were recruited at the start of the company. There were no proper performance measurements and appraisals when Forman and Team leaders were allocated. The Line Managers choose the next career advancements from their teams, which created a unrest among the other employees. This creates a dissatisfaction of the job which in time leads to high employee turnover. The dissatisfaction of the job can be termed mainly because there was no proper appraisal done for the previous batches. The new employees were appraised in a month due t o visa purposes, but no proper system was in place.This creates unrest with the employees that the new batches get more benefits in terms of career levels and salary. There was no way of measuring the performance of each employee, this brings about indications of none reconditions of employees who learned and worked hard. When all the above were considered the main reason for the turnover was due to none recondition of employees who are skilled and knew the work as there was no proper performance management system. Impact on Human resource The human resources can provide a sustained competitive advantage when four basic requirements are met.They must add value to the company’s production process; levels of individual performance must matter. Second, the skills the company looks for matters. The performance plays a major role here. The third the combined human capital investments a company’s employees represent cannot be easily imitated. Human resources practises influe nce employee skills through the acquisition and development of a company’s human capital. Recruiting procedures that provide a large pool of qualified applicants, pared with a reliable and valid selection process, will have a substantial influence over the quality and type of skills new employee possess.Providing formal and informal training experience such as basic skills training, on-the-job experience, coaching, mentoring can further influence an employee’s development. The company’s human resource is important in the development and execution of its strategic business plan. Human resource management practices can help to create a source of sustained competitive advantage, especially when they are aligned with a firm’s competitive advantage. The impact on human resource indicating the high turnover of the employees is as follows; 7. 1 Low employee morale High turnover rate can result in low employee morale.This can result from overworked employees who had increased workloads and responsibilities due to lack of an active or trained workforce. New employees can also suffer from low morale as they struggle to learn new job duties and procedures. Continuation of this environment can cost the company. 7. 1 Loss of Trained workforce The training gained on the job from the beginning of the project is hard to teach. These employees are highly skilled and know the job better than the new recruits. Loss of these employees cost the company a lot, which leads to drop of production and trained workforce. . 2 Cost for new recruitment The cost of hiring a new employee is more than the salary; it all comes to a high cost in the process of recruitment alone. Advertisements, time cost for the initial recruiter, time cost for the line managers, time cost for conducting interviews, medical and other visa purpose and documentations, cost of travelling, cost of uniforms and tools. Also the cost of the time taken and the loss of production till the emp loyee are present at the work station. (Visa, documentation, travelling, induction) ConclusionThe effectiveness of even highly skilled employees will be limited if they are not motivated to perform, Human resource management practices can affect employee motivation by encouraging them to work both harder and smarter. One of the examples a company uses to direct and motivate employee behaviour include the use of performance appraisals that assess individual or work group performance, linking these appraisals tightly with incentives compensation systems, the use of internal promotion systems that focus on employee merit, and other forms of incentives intended to align the interests of the employees.Also the contribution of a highly skilled and motivated workforce will be limited if jobs are structured, or programmed in such a way that employees, who know their work better than anyone else, do not have the opportunity to use their skills and abilities to design new and better ways of p erforming their roles. In this instance Human resource management practices can influence company performance through structuring of the organization that encourages participation among employees and allow them to improve how their jobs are performed.Cross-functional teams, job rotation, and quality circles are all examples of such structures. These clearly suggests that the behaviour of employees within the organization has important implications for organizational performance and that human resources management practices can effect individual employee performance through their influence over employees’ skills and motivation and through organizational structure that allow employees to improve how their jobs are performed.If proper human resource practices in performance management is practised, it can directly have a control on employee turnover and productivity, which the employees have direct control. Lower turnover and greater productivity in turn enhance corporate financ ial performance. The performance management should be in place that the employee can evaluate his own performance at a frame of time, which the line manager can approve. Proper objectives can be in place as per the individual (job specific) and team objectives.These can be reviewed monthly, with one on one discussion with the line manager and the human resource team which can be recorded for the career advancements and increments. These proper systems will lead the employee to know where they stand and what needs to be improved to get to the next level in career. The proper system will help the line managers in choosing the team leaders with a more accurate indication that the person is capable and competent in the new role. A well developed performance management system will include the following; †¢ A statement outlining the organizational values A statement of the organization’s objectives (each teams can have differently according to the projects) †¢ Individual objectives which are linked to the organizational objectives †¢ Regular performance reviews throughout the year †¢ Performance related pay/ career advancements †¢ Training and counselling Appraisals should be used to review constructively individual’s performance in order to encourage them. Accurate assessments can only be achieved if appraisers and appraisees are both very clear about what criteria will be used in determining how strong or weak the performance is.The major purpose of performance appraisals are to; †¢ Define the specific job criteria against which performance will be measured †¢ Measure past job performance accurately †¢ Justify the rewards given to individuals and/or groups thereby, discriminating between high and low performers †¢ Define the development experiences that the person being appraised needs to enhance their performance in the present job, and to prepare them for future responsibilities References Academic of Ma nagement Journal 1995 Vol. 58The impact of human resources management practices on turnover, productivity, and cooperate financial performance. Mark A. Huselid (Rutgers University) Human Resource Management – Gaining a Competitive Advantage Noe, Hollenbeck, Gerhart and Wright (8th edition) Nakilat Damen Shipyards Qatar website http://www. ndsq. com. qa NDSQ company forms and data from internal documentation Studies in Economics and Business Human Resource Management – Rob Dransfield A. NDSQ Performance appraisal (iniciated in Nov 2012) [pic] [pic] Performance Appraisal Essay Example Performance Appraisal Essay A study of the Human Resource issue of Nakilat Damen Shipyards Qatar Table of Contents 1. 0Executive Summery5 2. 0Introduction of the Company6 3. 0The background of the issue – high employee turnover6 4. 0The impact on the business7 4. 1 Drop in production7 4. 2 Cost for the company7 4. 3 Time7 4. 4 Team dynamics8 4. 5 Continuity8 5. 0Root cause of the issue9 6. 0The Human Resource issue10 7. 0Impact on Human resource11 7. 1 Low employee morale11 7. 1 Loss of Trained workforce12 7. 2 Cost for new recruitment12 8. 0Conclusion13 9. 0References16 ANNEX A. NDSQ Performance appraisal (iniciated in Nov 2012)17 Executive SummeryHuman Resource management refers to the policies, practices, and systems that influence employees’ behavior, attitudes, and performance. There are some important human resource practices which are shown in figure 1, that influence the company performance. | |Strategic HRM | | | | |Analysis and design of work |HR planning |Recruiting |Selecting |Training and development |Compensation |Performance management |employee relations | | |Company Performance | | | | | | | | | | | | | | |Figure 1: Human Resource Management PracticesThe roles of the Human Resource functions include three product lines, Administrative role, Business partner and Strategic partner. In most companies the Human resource department handles mainly the administrative part, but for a growth of the company performance the human resource manager needs to focus on all the three areas. In my report I would like to discuss an issue that the company faced that involved a human resource practice. I will further elaborate how this issue has influenced the company and its functions and the solutions that could be used to solve the problem.Note: As I have left the company in 2012 March, the statistics includes in my report are when I was working in the company and the problem faced was during that time. In order to manage performance effectively the following human resource p ractices should be in place so that the performance of the employees can be measured and reviewed accordingly in order for them to know where they stand in the organization and what improvements need to be done so that they will be more competent in their job role.Performance management is the means through which managers ensure that employee’ activities and outputs are congruent with the organization’s goals. Performance appraisal is the process through which an organization gets information on how well an employee is doing his job. Performance feedback is the process of providing employees information regarding their performance effectiveness. Introduction of the Company Nakilat Damen Shipyards Qatar (NDSQ) which was established in 2010, which was joint venture of Qatar Gas Transport Ltd (Nakilat) and Damen Shipyards Qatar Holding BV (Damen Shipyards Group).As a startup company we had a small number of employees initially. The work force was recruited in batches of a bout 20 persons, from India and Philippines. The company staff was consists of a different mix of cultures. The background of the issue – high employee turnover The company which was started in 2010 with the initial number of 80 employees increased the head counts within a year to more than 200 employees. According to the statistics from Human resource department which was in January 2011, the total number of employees was 328 and the End of Service (EOS) was 62.Which creates a problem in the company as the turnover comes to about 15%. From this number most were the initial employees who had started off with the company and grown learning and performing from the beginning of the project. The impact on the business Nakilat Damen Shipyards Qatar, as a new company was given the initial project of completing the ‘LOR Barge’ for Qatar Gas Transport Company. This project was started with the incorporation and was due to be launched in mid 2012, which was delayed to Sep tember 2012.The high turnover in the early stage of the company with the employees who know their work better had a major contribution for this factor. This slows the business performance. 4. 1 Drop in production The overall productivity of the work place tends to decrease with the high turnover. Since a new employee has a period of adjustment, he won’t complete tasks as quickly as the person he replaces. Group projects that rely on the new team member may slow down, which effects experienced employees’ productivity levels. 4. 2 Cost for the companyEach employee that resigns cost the company, the cost for visa training them of the process and procedure. These employees were hired during the initial stages and they were exposed to the environment form the beginning and the hands on experience they have had was unique. When new employees are hired the earlier cost for recruitment, advertising need to be spent again. 4. 3 Time Managers and human resources staff spend time conducting exit interviews, advertising the job, recruiting candidates and interviewing. The new employees may take several months to fully learn the job and achieve competency in the position. 4. 4 Team dynamicsWhen the staff changes frequently, the employees who stay have a difficult time building a positive team dynamics. A group of employees learns to work together, only to have one or more members leave. Teams need to be rearranged regularly. 4. 5 Continuity High turnover rate affects the continuity of production, which will lead to production drops. Root cause of the issue When the issue is put through the ‘why why analysis’, the root cause was found to be that there was no proper performance management system, in order to measure and manage the performance of the individuals in order to motivate and increase the production.Cause : High employee turnover Why : Job dissatisfaction Why : Absenteeism Why : change of attitudes/ behaviour Why : No recondition / job se curity Why : salary / benefit packages Why : change of levels Why : No proper appraisal Why : No proper performance management The reasons for voluntary turnover can be grouped as follows; salary related reasons (salary, benefit packages, and staff levels). In order to gather more accurate information the analysis can be done by exit interviews and conduct a survey of former employees. The Human Resource issueThe high turnover was mainly from the employees that were recruited at the start of the company. There were no proper performance measurements and appraisals when Forman and Team leaders were allocated. The Line Managers choose the next career advancements from their teams, which created a unrest among the other employees. This creates a dissatisfaction of the job which in time leads to high employee turnover. The dissatisfaction of the job can be termed mainly because there was no proper appraisal done for the previous batches. The new employees were appraised in a month due t o visa purposes, but no proper system was in place.This creates unrest with the employees that the new batches get more benefits in terms of career levels and salary. There was no way of measuring the performance of each employee, this brings about indications of none reconditions of employees who learned and worked hard. When all the above were considered the main reason for the turnover was due to none recondition of employees who are skilled and knew the work as there was no proper performance management system. Impact on Human resource The human resources can provide a sustained competitive advantage when four basic requirements are met.They must add value to the company’s production process; levels of individual performance must matter. Second, the skills the company looks for matters. The performance plays a major role here. The third the combined human capital investments a company’s employees represent cannot be easily imitated. Human resources practises influe nce employee skills through the acquisition and development of a company’s human capital. Recruiting procedures that provide a large pool of qualified applicants, pared with a reliable and valid selection process, will have a substantial influence over the quality and type of skills new employee possess.Providing formal and informal training experience such as basic skills training, on-the-job experience, coaching, mentoring can further influence an employee’s development. The company’s human resource is important in the development and execution of its strategic business plan. Human resource management practices can help to create a source of sustained competitive advantage, especially when they are aligned with a firm’s competitive advantage. The impact on human resource indicating the high turnover of the employees is as follows; 7. 1 Low employee morale High turnover rate can result in low employee morale.This can result from overworked employees who had increased workloads and responsibilities due to lack of an active or trained workforce. New employees can also suffer from low morale as they struggle to learn new job duties and procedures. Continuation of this environment can cost the company. 7. 1 Loss of Trained workforce The training gained on the job from the beginning of the project is hard to teach. These employees are highly skilled and know the job better than the new recruits. Loss of these employees cost the company a lot, which leads to drop of production and trained workforce. . 2 Cost for new recruitment The cost of hiring a new employee is more than the salary; it all comes to a high cost in the process of recruitment alone. Advertisements, time cost for the initial recruiter, time cost for the line managers, time cost for conducting interviews, medical and other visa purpose and documentations, cost of travelling, cost of uniforms and tools. Also the cost of the time taken and the loss of production till the emp loyee are present at the work station. (Visa, documentation, travelling, induction) ConclusionThe effectiveness of even highly skilled employees will be limited if they are not motivated to perform, Human resource management practices can affect employee motivation by encouraging them to work both harder and smarter. One of the examples a company uses to direct and motivate employee behaviour include the use of performance appraisals that assess individual or work group performance, linking these appraisals tightly with incentives compensation systems, the use of internal promotion systems that focus on employee merit, and other forms of incentives intended to align the interests of the employees.Also the contribution of a highly skilled and motivated workforce will be limited if jobs are structured, or programmed in such a way that employees, who know their work better than anyone else, do not have the opportunity to use their skills and abilities to design new and better ways of p erforming their roles. In this instance Human resource management practices can influence company performance through structuring of the organization that encourages participation among employees and allow them to improve how their jobs are performed.Cross-functional teams, job rotation, and quality circles are all examples of such structures. These clearly suggests that the behaviour of employees within the organization has important implications for organizational performance and that human resources management practices can effect individual employee performance through their influence over employees’ skills and motivation and through organizational structure that allow employees to improve how their jobs are performed.If proper human resource practices in performance management is practised, it can directly have a control on employee turnover and productivity, which the employees have direct control. Lower turnover and greater productivity in turn enhance corporate financ ial performance. The performance management should be in place that the employee can evaluate his own performance at a frame of time, which the line manager can approve. Proper objectives can be in place as per the individual (job specific) and team objectives.These can be reviewed monthly, with one on one discussion with the line manager and the human resource team which can be recorded for the career advancements and increments. These proper systems will lead the employee to know where they stand and what needs to be improved to get to the next level in career. The proper system will help the line managers in choosing the team leaders with a more accurate indication that the person is capable and competent in the new role. A well developed performance management system will include the following; †¢ A statement outlining the organizational values A statement of the organization’s objectives (each teams can have differently according to the projects) †¢ Individual objectives which are linked to the organizational objectives †¢ Regular performance reviews throughout the year †¢ Performance related pay/ career advancements †¢ Training and counselling Appraisals should be used to review constructively individual’s performance in order to encourage them. Accurate assessments can only be achieved if appraisers and appraisees are both very clear about what criteria will be used in determining how strong or weak the performance is.The major purpose of performance appraisals are to; †¢ Define the specific job criteria against which performance will be measured †¢ Measure past job performance accurately †¢ Justify the rewards given to individuals and/or groups thereby, discriminating between high and low performers †¢ Define the development experiences that the person being appraised needs to enhance their performance in the present job, and to prepare them for future responsibilities References Academic of Ma nagement Journal 1995 Vol. 58The impact of human resources management practices on turnover, productivity, and cooperate financial performance. Mark A. Huselid (Rutgers University) Human Resource Management – Gaining a Competitive Advantage Noe, Hollenbeck, Gerhart and Wright (8th edition) Nakilat Damen Shipyards Qatar website http://www. ndsq. com. qa NDSQ company forms and data from internal documentation Studies in Economics and Business Human Resource Management – Rob Dransfield A. NDSQ Performance appraisal (iniciated in Nov 2012) [pic] [pic] Performance Appraisal Essay Example Performance Appraisal Essay A DISSERTATION PROJECT On â€Å"STUDY ON PERFORMANCE APPRAISAL SYSTEM AT WAY TO WEALTH† Submitted in partial fulfillment of the requirement for MBA Degree of Bangalore University BY JYOTSNA Register Number 04XQCM6037 Under the guidance of Prof. S. Santhanam M. P. Birla Institute of Management Associate Bharatiya Vidya Bhavan Bangalore-560001 2004-2006 DECLARATION I hereby declare that the report titled â€Å" STUDY ON PERFORMANCE APPRAISAL AT WAY TO WEALTH†is prepared under the guidance of Prof. S. Santhanam in partial fulfillment of MBA degree of Bangalore University, and is my original work. This project does not form a part of any report submitted for degree or diploma of Bangalore University or any other university. Place: Bangalore Date: JYOTSNA M. P. Birla Institute Of Management 2 PRINCIPAL’S CERTIFICATE This is to certify that Ms JYOTSNA, bearing registration No: 04XQCM6037 has done a project and has prepared a report â€Å"STUDY ON PERFORMANCE APRAISAL SYSTEM AT WAY TO WEALTH â€Å"under the guidance of Prof. S. Santhanam, M. P. Birla Institute of Management, Bangalore. This has not formed a basis for the award of any degree/diploma for any other university. Place: Bangalore Date: Dr . NAGESH. S. We will write a custom essay sample on Performance Appraisal specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Performance Appraisal specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Performance Appraisal specifically for you FOR ONLY $16.38 $13.9/page Hire Writer MALLAVALLI PRINCIPAL MPBIM, Bangalore : M. P. Birla Institute Of Management 3 GUIDE’S CERTIFICATE This is to certify that Ms JYOTSNA, bearing registration No: 04XQCM6037 has done a project and has prepared a report â€Å"STUDY ON PERFORMANCE APPRAISAL SYSTEM AT WAY TO WEALTH â€Å"under my guidance. This has not formed a basis for the award of any degree/diploma for any other university. Place: Bangalore Date: Prof. S. Santhanam M. P. Birla Institute Of Management 4 ACKNOWLEDGEMENT I would like to take this opportunity to express my sincere gratitude to all those who guided me in the right direction to complete this report. I would like to thank Dr. Nagesh Malavalli ,principal for his support and also to thank my guide Prof. S. Santhanam, faculty member, for his guidance and support for making this project a success. I would also thank my family and my friends for supporting me during the project. Place: Bangalore Date: (JYOTSNA) M. P. Birla Institute Of Management 5 CONTENTS Sl. No Page No CONTENTS 1 2 3 4 5 6 7 8 9 10 ABSTRACT INTRODUCTION METHODOLOGY STATEMENT OF PROBLEM OBJECTIVES OF THE STUDY LIMITATIONS COMPANY PROFILE DATA ANALYSIS INTERPRETATION SUMMARY CONCLUSION BIBLIOGRAPHY 9 10 11 14 16 26 27 32 54 59 M. P. Birla Institute Of Management 2 LIST OF GRAPHS Sl. No 1 2 3 4 5 6 7 8 Graphs Graph showing whether PA is conducted every year in the company Graph showing whether job increments promotions are based on PA Graph showing whether PA objectives are clearly defined Graph showing the purpose of PA Graph showing Feedback on Pa is collected Graph showing the Opinion of the present PA system Graph showing whether PA system needs to be improved Graph showing methods that can be suggested for PA Page No 33 34 35 36 38 39 42 43 PA: Performance Appraisal M. P. Birla Institute Of Management 3 LIST OF TABLES Sl. No 1 2 3 4 5 6 7 8 9 10 11 Tables Table showing whether PA is conducted every year in the company Table showing job increments Promotions are based on PA Table showing whether PA objectives are clearly defined Table showing the purpose of PA Table showing Ranking of methods employed in PA Table showing whether Feedback on PA is collected Table showing the Opinion on present PA system Table showing factors covered in PA Table showing Improvements to be done in PA Table showing whether Pa system needs to be improved Table showing methods that can be suggested for PA Page No 33 34 35 36 37 38 39 40 41 42 43 PA: Performance Appraisal M. P. Birla Institute Of Management 4 ABSTRACT It is a well-established fact the people differ in their abilities and aptitudes. These differences are natural to a great extent and cannot be eliminated completely by giving them education and training. There will always be some difference in quality and quantity of work done by different employees. Therefore it is necessary for the management to know these differences so that it may develop certain programs in the organization for those employees who posses better potentials so that they may be developed to accept the challenges of higher jobs or wrong placement of employees may be rectified . The individual employee may also like to know his capability in terms of his performance on his capability in terms of his performance on the job qualitatively and quantitatively in comparison to his fellow employees so that he improve upon it. No firm has a choice as to whether or not it should appraise its personnel and their performance but the choice lies between the systematic and the unsystematic or casual appraisal. The system of appraising the man is not new but the systematic approach of evaluating the man is by any means a new development . The technique of appraising the man by supervisors or others is widely known as â€Å" Performance Appraisal† . It is also sometimes termed as Personnel Performance Evaluation, Merit Rating. Thus main objective of the project is to study the Performance Appraisal process being practiced in WAY 2 WEALTH and evaluate its effectiveness. This project aimed at finding out effectiveness in terms of familiarity, and satisfaction level of performance appraisal among the employees WAY 2 WEALTH. The project also focuses on finding out how performance appraisal is matching in meeting the company’s goals and objectives. M. P. Birla Institute Of Management 5 METHODOLOGY The research methodology used in the project is the descriptive approach and it is done among 200 employees . The main sources through which data is collected are 1. Primary data 2. Secondary data The data collected for this research is through primary data collection method. The instrument used for collecting primary data is structured questionnaire filled up by the employees Statistical tools were used to find inferences between the variables and analyzing the results. The following are the tools used. 1) 2) 3) Kalmograv Smirnov Test Chi – Square test (? 2) Spearman’s Rank Correlation M. P. Birla Institute Of Management 6 M. P. Birla Institute Of Management 7 INTRODUCTION An organization’s goals can be achieved only when people put in their best efforts . How to ascertain whether an employee has shown his or her best performance on a given job?. The answer is Performance Appraisal. Employee assessment is the fundamental job of HRM, but not easy one though. Thus â€Å"Performance Appraisal† is the systematic evaluation of the individual with respect to his or her performance on the job and his or her potential for development . The performance is being measured against such factors as Job Knowledge, quality, initiative, leadership abilities, supervision, co-operation, versatility etc. It is systematic in that it evaluates all performance in the same manner utilizing the same approach so that the ratings obtained to separate personnel are comparable. It is undertaken periodically according to plan . The essential purpose is the accurate measurement of human performance It attempts to reduce, if not eliminate human bias and prejudice, by means of a system that is subject to impartial review and check. Often such personnel performance appraisal are labeled as ratings where an individual employee, after comparison with another, is rated or ranked as â€Å"Excellent, normal or average† and are commonly used for determining an employees eligibility for promotion or transfer and widely being used for the development of the individual. Any appraisal program will involve time and money . The wise manager should plan up a program with the minimum cost to give maximum benefit . The rationale for using any particular method should be determined by the size ,financial resources ,and philosophy of the organization . M. P. Birla Institute Of Management 8 Appraisal can be made by one or more superiors or subordinates or by the peers . There can also be committee of members from various related departments to appraise an employee. There may even be a system of self –appraisal in which each employee evaluates his own performance and potential. M. P. Birla Institute Of Management 9 STATEMENT OF THE PROBLEM To evaluate is to assess the worth or value. In social life, we generally evaluate or appraise the behavior of others in relations to our own needs or goals. Appraisals are judgments of the characteristics ,traits and performance of others. On the basis of these judgments, we assess the worth or value of others, and identify what is good and bad. In industry, performance appraisal is a systematic evaluation of personnel by supervisors or others familiar with their performance because employers are interested in knowing about employee performance. Employees also wish to know their position in the organization. Appraisals are essential for making many administrative decisions: selection, training ,promotion ,transfer ,wage and salary administration ,etc . Besides ,they aid personnel research . Performance appraisal thus is a systematic and objective way of judging the relative worth or ability of an employee in performing his task . Performance ppraisal helps to identify those who are performing their assigned tasks well and those who are not and the reasons for such performance . Differentiating between individuals is easy provided one knows what aspects to take into account. Identifying performance measures is easy if job is clearly defined but difficult if it is broad. At the lower levels of an organization, there are specif ic jobs and certain tangible and objective standards of performance can be identified. Further up in the hierarchy, jobs become more complex and clear–cut, tangible standards of performance are difficult to specify. Irrespective of the level by and large, most companies use various parameters for measuring the performance like quality of work, quantity of work, job Knowledge, meeting the job requirements, initiative, team working, communicative etc. And they would be rated in accordingly quarterly, half yearly or annually depending on company’s policies. M. P. Birla Institute Of Management 10 Many companies would have a standard format for appraising the performance. Ironically many of the employees would not know the norms of the appraisal and to the surprise many of them may not be fully familiar with contents of the appraisal form. This would be great hazel for the company as well as to the employees because if the employee is not aware of what basis he is appraised, he may not put up all his efforts for better improvement which indirectly effects the companies profits by not meeting the companies objectives and targets. Thus this project â€Å" A Study On Effectiveness of Performance System† aims at complete study on performance appraisal system and finding out effectiveness of the system in terms of familiarity and satisfaction level of the employees in WAY 2 WEALTH, Chennai M. P. Birla Institute Of Management 11 OBJECTIVES OF THE STUDY PRIMARY OBJECTIVES ? To find out the effectiveness of PA system in way-2-wealth ? To Know employee satisfaction on PA system in way-2-wealth ? To suggest the way-2-wealth improve the employee satisfaction on PA system SECONDARY OBJECTIVES ? To find the opinion of employees on various factors involved in PA system ? To find out the openness of personal department in PA ? To find out the scope of critical attributes and other factor coverage of PA system ? To know post appraisal measures taken b way-2-wealth M. P. Birla Institute Of Management 12 REVIEW OF LITERATURE Once the employee has been selected, trained and motivated, he is then appraised for his performance. Performance appraisal is the step where the management finds out how effective it has been at hiring and placing employees . If any problems are identified steps are taken to communicate with the employee and to remedy them. A â€Å"Performance Appraisal† is a process of evaluating an employee’s performance of a job in terms of its requirements. It is the process of evaluating the performance and qualifications of the employees in terms of the requirements of the job for which he is employed, for purposes of administration including placement, selection for promotion, providing financial rewards and other actions which require different treatment among the members of a group as distinguished from actions affecting all members equally. _ Heyel Performance Appraisal seeks to provide an adequate feedback to each individual for his or her performance. It purports to serve as a basis for improving or changing behavior toward some more effective working habits . It also aims aat providing data to managers with which they may judge future job assignments and compensation -Levinson M. P. Birla Institute Of Management 13 Performance Appraisal determines who shall receive merit increases; counsels employees on their improvement ,determines training needs ,determines promo ability, identifies those who should be transferred -Ronald Benjamin PURPOSE OF APPRAISAL It can serve as a basis for job change or promotion ? By identifying the strengths and weakness of an employee it serves as a guide for ? formulating a suitable training and development program It serves as a feedback to the employee ? It serves as an important incentive to all employees ? The existence of regular appraisal system tends to make the supervisors and ? executives more observant of their subordinates Performance appraisal often provides the rational foundation for payment of ? salaries and bonus M. P. Birla Institute Of Management 14 ESSENTIALS OF GOOD APPRAISAL SYSTEM It must be easily understandable ? An appraisal plan must be integrated into the organization so as to have clear cut ? relationships between the appraisal plan and organization policies relating to performance of the employees. It must have the support of all line people who administer it ? The system should fit the organizations operations and structure ? The system should be both valid and reliable ? The system should have built in incentives that is a reward should follow satisfactory ? performance The system should periodically evaluated to be sure that it is continuing to meet its ? goals What should be Rated? The seven criteria for assessing performance are: 1. Quality 2. Quantity 3. Timeliness 4. Cost Effectiveness 5. Need for supervision 6. Interpersonal impact 7. Training M. P. Birla Institute Of Management 15 Trends in employee Appraisal ITEM Terminology Purpose FORMER EMPASIS Merit Rating Determine qualifications for wage increase, transfer, promotion, lay- off Application For hourly –paid workers Heavy emphasis on personal traits Techniques Rating scales, Statistical manipulation of data for comparison purpose PRESENT EMPHASIS Performance Appraisal Development of the individual, improved performance on the job, and provide emotional security For technical, professional and managerial employees Factors Related Results, accomplishments, performance Mutual goal–setting, critical incidents, group appraisal, performance standards, less quantitative Post Appraisal Interview Superior communication his rating to employees and tries to sell his evaluation to him; seeks to have employee conform to his view Superior stimulates employee to analyze himself and set own objectives in line with job requirements superior is helper and councilor M. P. Birla Institute Of Management 16 Approa ches to Performance Appraisal: 1. A casual ,unsystematic and haphazard appraisal: This method was commonly used in the past . The basis of this method are seniority or quantitative measures quantity and quality of output for the rank and file personnel 2. The traditional and highly systematic measurement: This measures the employees characteristic and employee contributions or both. It evaluates all the performances in the same manner ,utilizing the same approach so that the ratings obtained of separate personnel are comparable 3. The behavioral approach ,emphasizing mutual goal setting: here emphasizes has been laid upon providing mutual goal setting and appraisal of progress by both the appraiser and the appraise . This approach is based on the behavioral value of fundamental trust in the goodness ,capability and responsibility of human beings. The Evaluating Process The process of performance appraisal follows a set pattern viz, a man’s performance is periodically appraised by his superiors. Questions are raised . Is his potential the greatest as a manager or as a staff specialist? What are his strengths and weakness? Where can he make his great contribution? Next sometimes in consultation with the man himself, tentative decisions are made on what might be done to advance his development. M. P. Birla Institute Of Management 17 Thus the process would involve following steps ESTABLISH PERFORMANCE STANDARDS COMMUNICATE PERFORMANCE EXPECTATIONS TO EMPLOYEES MEASURE ACTUAL PERFORMANCE COMPARE ACTUAL PERFORMANCE WITH STANDARDS DISCUSS THE APPRAISAL WITH THE EMPLOYEE IF NECESSARY, INITIATE CORRECTIVE ACTION M. P. Birla Institute Of Management 18 TOOLS/METHODS FOR APPRAISING PERFORMANCE: Several methods and techniques of appraisal are available for the measurement of the performance of the employee . The methods and scales differ for obvious reasons 1. They differ in the sources of traits or qualities to be appraised. 2. The variations may be caused by the degree of precision attempted in an evaluation. 3. They may differ because of the methods used to obtain weightings for various traits. M. P. Birla Institute Of Management 19 Methods of Performance appraisal Traditional Methods ? Straight Ranking ? Man-to-man Comparison ? Grading ? Force choice Description ? Graphic Rating Scales ? Forced distribution Method ? Check Lists ? Free Form Essay Method ? Critical Incidents ? Group Appraisal ? Field Review Method y Modern Methods Assessment Centres Behaviorally Anchored Rating Scale M. P. Birla Institute Of Management 20 COMPONENTS OF APPRAISAL EVALUATION ? â€Å"Who† of the Appraisal ? â€Å"What† of Appraisal ? ? ? Common Pitfalls in Appraisal: ? There is often tendency to rate not only the employee but also the job ? Errors are introduced in the appraisal because of a defect or bias in the person conducting the appraisal ? As Appraisal are in fact opinions ,it is difficult to remove from the subjective element whilst making the judgment ? Performance appraisal do require a lot from the supervisor as they require periodic observation of subordinates performance by them which becomes difficult in case of a first line superior have a large number of subordinates ? There is often a large variations in the standards and ratings because some raters are tough where as others are lenient ? There is often lack of communication where by the employee does not know how he is rated ? Often Superiors are reluctant to give a low rating to ineffective subordinate and gives him an average rating ? Sometimes communication of the rating of the employee if done properly would be taken as criticism and may even result in his performing more poorly The â€Å"Why† of Appraisal The â€Å"When† of Appraisal The â€Å"where† of Appreciation M. P. Birla Institute Of Management 21 LIMITATIONS OF THE STUDY The researcher has made efforts for an errorless study but the following limitations were occurred ? The survey was restricted to only in Way 2 Wealth and the sample size was 200 ? There may be some changes if the sample size and the geographical segmentation were increased ? Time was a handicap for a detailed study ? A few respondents might have been given biased information, which may affect the reliability of the results ? Unwillingness and inability of the respondent to provide information M. P. Birla Institute Of Management 22 COMPANY PROFILE Way2Wealth is a premier Investment Consultancy Firm that has been launched with the aim of making investing simpler, more understandable and profitable for the investors. Way2Wealth brings a wide range of product offerings from Fixed Income Securities, Life Insurance and Mutual Funds to Equity and Derivatives (on the National Stock Exchange) for the convenience and benefit of it customers. Way2Wealth has over 40 easily accessible Investment Outlets spread across 20 major towns and cities in the country. Mission Way2Wealth is a premier Investment Consultancy Firm, launched with the ission â€Å"to be the pre-eminent destination for personalised financial solutions helping individuals create wealth†. Philosophy We believe that â€Å"our knowledge combined with our investors trust and involvement will lead to the growth of wealth and make it an exciting exp erienc Sivan Securities started in 1984, has a long and illustrious track record of being amongst the premier Financial Intermediaries in the country as well as being an incubator for IT start-up firms. The Venture Capital division came to be known as Global Technology Ventures (GTV has provided venture capital to companies such as Kshema Technologies, MindTree, Ivega etc. ) and the Financial Intermediary Division was spun off as Way2Wealth in the year 2000. M. P. Birla Institute Of Management 23 Way2Wealth is promoted by Sivan Securities and Global Technology Ventures Ltd. Prudential ICICI AMC provides further strength to Way2Wealth as strategic equity partner. Over the years, Sivan has developed a strong reputation for navigating its investors through all the ups and downs in the market. Way2Wealth has inherited these same values in addition to a base of 75,000 individual customers, over 300 corporate/institutional clients. Other companies in the group include Amalgamated Bean Coffee Trading Company Ltd. (one of the largest Coffee Exporters in India) and Cafe Coffee Day, a chain of youth hangout coffee parlors. Way2Wealth has very credible management teams, who have well over 100 man-years of experience amongst themselves Way2Wealth Investment outlets are designed to be places where retail investors can come in touch with Investment opportunities in an atmosphere of convenience and comfort. The look and feel of the offices across India project a consistent branch image for the company. The features that enable a unique facility for retailing financial services include among others: ? Most branches are located in the ground floor sporting huge glass frontage promoting easy accessibility and reflecting our attitude of complete transparency. ? The major portion of the branch area dedicated for customer use. The furniture is in CKD formats to add flexibility in using the branch for Investors purposes. ? ? Connectivity to NSE for trading facilities. TV and other electronic mediums to facilitate real time update and dissemination of information to our customers. ? Each branch comprises of trained and qualified Investment advisors to take care of the needs of the customers. M. P. Birla Institute Of Management 24 The Way2Wealth Research Desk Research is at the core of the advice. It believes that sound investment decisions are made on sound analysis of facts, past performance and credible market information. The research cell focuses on providing data and analysis to help customers make sound investment decisions. The Research cell is managed by a highly qualified team that is handpicked and trained extensively in the proprietary Way2Wealth Investment Philosophy centered on finding the best investment solutions for our customers. Based in the commercial capital enables the team to have a pulse of the trends allowing dissemination of the most up-to-date and latest information. ? Personalised Investment Solutions: All the customers receive individual attention ? Full choice of Investments: Mutual funds, Life Insurance, Fixed Income Instruments, Equity and Derivatives ? Processing support: take care of all the paper work and provide service at the doorstep. ? Investor eligibility criteria: Customers with a minimum investment amount as low as Rs. 2500 per month can avail of the services. This unique Way2Wealth concept can be easily experienced through the innovative and customer friendly network of Investment outlets that spans 20 major towns and cities in the country. M. P. Birla Institute Of Management 25 RESEARCH METHODOLOGY The following points are considered in carrying out the research. A. RESEARCH METHODOLOGY: A research design is purely ad simply the framework a plan for a study that guides the collection and analysis of the data. Descriptive Research Here the research is been done on 200 members through a media of questionnaire B. DATA COLLECTION METHOD: The main sources through which data is collected are 1. Primary data 2. Secondary data The data collected for this research is hrough primary data collection method. The instrument used for collecting primary data is questionnaire from the employees. M. P. Birla Institute Of Management 26 E. SAMPLING TECHNIQUE Non – probability (non random ) sampling method is used in this project. F. STATISTICAL TOOL S USED: Statistical tools were used to find inferences between the variables and analyzing the results. The following are the tools used. 1)spearman’s rank Correlation 2) Kalmograv Smirnov Test 3) Chi – Square test (? 2) M. P. Birla Institute Of Management 27 M. P. Birla Institute Of Management 28 DATA ANALYSIS INTERPRETATION TABLE 1 TABLE SHOWING WHETHER PA IS CONDUCTED EVERY YEAR IN THE COMPANY S. NO 1 2 YES NO TOTAL OPINION NO OF RESPONDENTS 60 0 60 PERCENTAGE (%) 100 0 100 100 80 60 40 20 0 YES NO INFERENCE: All the respondents feel that PA is conducted every year in the company. M. P. Birla Institute Of Management 29 TABLE 2 TABLE SHOWING WHETHER JOB INCREMENTS AND PROMOTIONS ARE STRICTLY BASED ON PA S. NO 1. 2. YES NO OPINION NO OF RESPONDENTS 41 19 PERCENTAGE (%) 68 32 100 TOTAL 60 70 60 50 40 30 20 10 0 YES NO INFERENCE: Majority of the respondents feel that job increments and promotions are strictly based on PA is 68%and whereas few of them feel that it is not strictly based on PA 32%. M. P. Birla Institute Of Management 30 TABLE 3 TABLE SHOWING WHETHER PA OBJECTIVES ARE CLEARLY INFORMED S. NO 1. 2. 3. CHOICE CLEARLY INFORMED PARTIALLY INFORMED NOT INFORMED AT ALL TOTAL NO OF RESPONDENTS 22 28 10 60 PERCENTAGE (%) 36 46 18 100 50 40 30 20 10 0 PERCENTAGE CLEARLY INFORMED PARTIALLY INFORMED NOTINFORMED AT ALL INFERENCE: Majority of the respondents feel that PA objectives are partially informed, some of them feel it is clearly informed and whereas few of them feel that it is not informed at all. M. P. Birla Institute Of Management 31 TABLE 4 TABLE SHOWING PURPOSE OF PA S. NO 1 2 3 4 CHOICE SALARY INCREASE PROMOTION TRAINING AND DEVELOPMENT FEEDBACK TOTAL NO OF RESPONDENTS 18 22 14 6 120 PERCENTAGE (%) 30 36 24 10 100 40 35 30 25 20 15 10 5 0 PERCENTAGE SALARY INCREASE PROMOTION TRAINING AND DEVELOPMENT FEEDBACK INFERENCE: Majority of the respondents feel that purpose of PA is for promotion, some of them feel it is for salary increase and whereas few of them feel it is for training and development. M. P. Birla Institute Of Management 32 TABLE 5 RANKING OF METHODS EMPLOYED IN PA NO OF RESPONDENTS FACTORS 1 GRADING RANKING METHOD CHECKLIST METHOD FORCED CHOICE METHOD 15 22 13 11 2 18 17 16 10 3 12 16 20 13 4 15 6 11 26 INFERENCE: From the table it is seen that the ranking of methods employed in PA is give below: FACTORS GRADING RANKING METHOD CHECKLIST METHOD FORCED CHOICE METHOD RANK II I III IV M. P. Birla Institute Of Management 33 TABLE 6 TABLE SHOWING WHETHER FEEDBACK ON PA IS COLLECTED S. NO 1. 2. YES NO OPINION NO OF RESPONDENTS 25 35 60 PERCENTAGE (%) 42 58 100 TOTAL 60 50 40 30 20 10 0 PERCENTAGE YES NO INFERENCE: 58% of the respondent feel that feedback on PA is not collected ad whereas some of them feel that feedback on PA is collected. M. P. Birla Institute Of Management 34 TABLE 7 TABLE SHOWING OPINION ON PRESENT PA SYSTEM IN THE COMPANY S. NO 1. 2. 3. 4. OPTIONS VERY GOOD GOOD AVERAGE POOR TOTAL NO OF RESPONDENTS 6 24 18 12 60 PERCENTAGE (%) 10 40 30 20 100 40 35 30 25 20 15 10 5 0 PERCENTAGE VERY GOOD GOOD AVERAGE POOR INFERENCE: Majority of the respondents opinion regarding present PA system in the company is good, some of the respondents opinion is average and whereas few of the respondents opinion is poor. M. P. Birla Institute Of Management 35 TABLE 8 TABLE SHOWING OPINION ON THE FOLLOWING FACTORS COVERED IN PA FACTORS Job knowledge Quality of work Quantity of work Ability of work Hard work Manner obedience VERY GOOD 6 7 6 7 10 10 GOOD 21 29 14 24 26 24 AVERAGE 22 13 18 16 12 14 POOR 9 6 12 8 7 9 VERY POOR 2 5 10 5 5 3 INFERENCE: Majority of the respondent’s opinion regarding the factors covered in PA is good, some of them feel it is average and whereas few of them feel it is poor. M. P. Birla Institute Of Management 36 TABLE 9 TABLE SHOWING IMPROVEMENTS TO BE MADE IN PA FACTORS Strongly agree 12 9 10 5 6 7 11 Neither Agree Agree nor disagree 27 25 24 22 20 24 25 11 14 8 14 18 13 14 6 7 11 13 11 11 6 Disagree Strongly disagree 4 5 7 6 6 5 4 Confidentiality Critical attributes Role related attributes Post appraisal actions Introducing bars in PA Feedback on PA White paper on PA after PA INFERENCE: Majority of the respondents agree that improvements has to be made in PA, some of them neither agree nor disagree ad whereas few of them disagree that improvements has to be made in PA M. P. Birla Institute Of Management 37 TABLE 10 TABLE SHOWING WHETHER PRESENT PA SYSTEM IS TO BE IMPROVED S. NO 1. 2. 3. 4. 5. OPTIONS STRONGLY AGREE AGREE NEITHER AGREE NOR DISAGREE DISAGREE STRONGLY DISAGREE TOTAL NO OF RESPONDENTS 11 20 15 9 5 60 PERCENTAGE (%) 18 34 24 16 8 100 35 30 25 20 18 15 10 5 0 PERCENTAGE 34 24 16 8 STRONGLY AGREE AGREE NEITHER AGREE NOR DISAGREE DISAGREE STRONGLY DISAGREE INFERENCE: Majority of the respondents agree that present PA system is to improved, some of them neither agree nor disagree ad whereas few of them disagree. M. P. Birla Institute Of Management 38 TABLE 11 TABLE SHOWING METHODS THAT CAN BE SUGGESTED FOR PA S. NO 1. 2. 3. 4. 5. OPTIONS ESSAY METHOD FIELD REVIEW METHOD BARS APPRAISAL BY RESULTS 360 DEGREE APPRAISAL TOTAL NO OF RESPONDENTS 9 8 11 14 18 60 PERCENTAGE (%) 16 12 18 24 30 100 30 25 20 15 10 5 0 PERCENTAGE ESSAY METHOD FIELD REVIEW METHOD ARS APPRAISAL BY RESLTS 360 DEGREE APPRAISAL INFERENCE: Majority of the respondents suggest 360 degree appraisal for PA, some of them suggest appraisal by result and whereas few of them suggest essay method. M. P. Birla Institute Of Management 39 TOOLS USED FOR ANALYSIS KALMOGROV SMIRNOV TEST The Kalmogrov Smirnov Test (KS – Test) tries to determine if two data sets significantly. The KS – test has the advantage of making no assumption about the distribution of data. (Technically speaking it is nonparametric and distribution free). It is a goodness of fit used to examine the distribution function of the random variable (X). Test statistics T = = Sup | F (x) – S (x) | Supremum of the absolute value of the difference between F (x) and S (X) H0 is rejected if T exceeds the 1 – a quant