Knowledge acquisition Essay

Jegrins Insurance Company is one of the largest insurance companies. Jegrins Company is a group of six other companies that deal with life insurance, property insurance, insurance exchange, property insurance and management. Jerkins Insurance Company is one of the largest casualty or property insurers and has so many policies. It deals with life insurance, asset management and casualty and property Insurance. Insurance companies have to maintain a competitive advantage in order to ensure growth. Jergins is one of those insurance companies that need to maintain a competitive advantage. The company has a very stable financial condition, works towards superior targets hence attains the aim of providing superior services. The employees of Jegrins Insurance Company are a very committed group who work towards the success of the company and ensure that the company grows. Jegrins Company has policy holders too that always set specific targets to be met by the company. They either set long term targets or short term targets depending on what they want to accomplish, agents of the company work hard in order not only to meet these targets but also to exceed them as a challenge to their policy holders. This company uses all these to ensure growth in the market as well as maintaining a competitive advantage. The company uses the capitalization’s risk adjustment as one of the ways of ensuring growth. It has a unique solid operating performance system as well, that it makes use of and views this as very important in the growth of the company. Another design in place for the Jegrins Insurance Company is the availability of the regional market that is well established. The advantage of the regional market, the employees attitude towards working hard, the adjustment of risk capitalization and the policies of the company that have to be met, place the company in a very high class among other insurance companies and enables it maintain a competitive advantage apart from just company growth. There are other factors that contribute to the growth hence high rating of the Jegrins Insurance Company. These are factors such as improvements on technology which has enabled the company growth on performance and service offering, low operating costs, a solid income investment, an increased sophistication on pricing and a well organized and well mannered underwriting. Jegrins Company cannot only depend on the already mentioned factors to be successful and to maintain a competitive advantage. It has to look for knowledge and how to manage it for the benefit of the company. The company therefore tried to change or implement ways of getting knowledge which it realized was a very important factor in maintaining competitive advantage. The company realized that by gaining knowledge from outside about other companies or competitors, it would be better placed, and apart from that, internal knowledge was noticed as essential for the general growth of the company. The company manager therefore decided to implement knowledge strategies to use for the companies benefit and be well informed about competitive advantage issues. The knowledge strategy of a company is the approach the company gives to the knowledge capabilities and knowledge resources to the company’s strategy in order to achieve what the company targets are. A knowledge strategy enables the company to increase its knowledge in a specified area be it internal or external knowledge of a company. Companies choose from the knowledge sources which are either internal or external or can choose to use both. Jegrins Company decided on a knowledge strategy that uses both the internal knowledge sources and the external knowledge sources. Jegrins company internal knowledge sources are those that the employees have in their minds, that is, in their behaviors, the duties and procedures they conduct everyday, the company equipments and the software of the company that they handle. Jegrins internal knowledge sources also lay in the various documents that the company has, the databases and the on line repositories. The external knowledge sources that Jegrins decided to use are such as consultants, from brokers of knowledge, universities, publications, personal relations and from professional associations. Jegrins company manager found out that internal knowledge source could be used to prevent imitation by other companies and to maintain the required level of knowledge requirement for executing the company’s strategy and maintaining its current position. The manager then decided to go to an extent of looking for external knowledge sources to avoid being beaten by competitors since competitors too have knowledge levels. The company has to ensure the gap between the competitors level of knowledge is closed down to ensure it is not down and cannot be out done at any time. Jegrins also creates new knowledge to keep in pace and to maintain a competitive advantage position. This extra knowledge, the manager feels is very important since the company will be better placed that the other companies. The company exploits knowledge to keep pace by looking for more information that is relevant. Jegrins insurance Company Internal knowledge management and knowledge acquisition: Without a knowledge strategy, the success of a company can be jeopardized. The company has since implemented a strategy of knowledge acquisition. This strategy has various processes that the company follows. The knowledge of the company since it was initiated was made available to the company employees for them to get to know more about the company. In knowledge management, employees are very important. Jegrins encourages its employees to get the information about the company and perform there duties on the basis of knowledge that they have gained. Internal knowledge is based on the employee knowledge, about their experiences, the soft ware in the company and other company documents. Since the company already had these, it was easy for the manager to go through this step of knowledge acquisition because the employees already had knowledge about the company, the software and had experiences in vast areas of the company. On the basis that this is a large company that provides services to other members and has so many policies, Jegrins has a lot to be termed as internal knowledge. It is therefore an important task to take a long term plan to ensure knowledge acquisition is not stopped after a short time but is continued over a long period of time. Jegrins made this decision just based on the nature of the business or company that does not go for days then close down. The manager decided on long term plans to avoid failure during operations in the future. Apart from the company knowledge that was readily available, the manager still implemented ways to encourage the employees to share the experiences they had and other organizational issues as a way to improve the company’s operational system. By this he encouraged learning through experience hence acquiring more useful knowledge to what his targets of the company are knowledge. External sources of knowledge: Jegrins acquires knowledge too from the external environment as has been stated. It gets information from consultants about the company’s operation steps whenever the manager feels there is a point where consultation is required. The company has evolved to an extent of looking at the other company’s successful methods and learning about them for the benefit of the company and to bridge the gap between the competitor and the company itself. When the company manager does this, he realizes that the other companies do not have more knowledge than the company does, and therefore are at almost the same level of knowledge and not left out yet the company still ranks above the competitors. This he realizes is important in maintaining a competitive advantage since knowledge about other companies is available to him and he knows the steps to make to avoid problems or going down the competitive advantage. The manager also involves the company in looking for information about the environment to which the company operates apart from the competitors’ information. The market is very important to the management of the company since the basis of the company being set up is to provide services to a specified market. Jegrins manager encourages research on the market for the advantage of the company. This though has been the company norm even before the manager decided on taking to knowledge strategy since it offered a lot of information about the steps to be followed for the success of the company. The manager realized that there was need for a strategy or method to be used to acquire just more information relevant for development. This kind of information gaining was meant for the purpose of just keeping in pace with others or being ahead of them which would be to the advantage of the company. The company therefore looked for external sources of information from universities, publications about the successful insurance companies, and other related information professional sources. Jegrins Information distribution: The manager of Jegrins Insurance Company adopted a system in the company that stored valuable information in an order that could be easily retrieved for reference. He also adopted the system of allowing information to be shared among the employees depending on the ranks and area of work so that when an employee does not accept an issue, he/she can explain it to others, discussed and a conclusion made. All these steps the manager considers as a good knowledge management strategy that has shown great success to the company after implementation. After knowledge acquisition, distribution, interpretation and general storage, the company’s knowledge management can be discussed. The manager so far has used this strategy to manage the company knowledge and is able to realize some bit by bit improvements from the previous level in which the company was before. The company though was at a high level, the manager had intentions of improvement and not just sticking to one level forever that may fall down in one time. The manager decided therefore to implement the knowledge management strategy to improve company performance and maintain competitive advantage. In all the knowledge management procedures, the manager had to take time to make sure that strategic knowledge creation is correctly done. He had to make the short term decisions in some cases and long term decision in others to make sure that there is a balance. This is because in some cases like the maintenance of the competitive advantage by the company, the manager had to decide on long term strategy since the future of the company has to be considered. After implementing a knowledge management strategy, the company has come to realize that knowledge is the key issue in the basis of competition. The company is always aware of any competitor steps that are relevant for the company in order not to be beaten by the competitor. Additional knowledge places the company at a higher class since more improvements have been made based on the acquired knowledge. Internal knowledge proved to be very advantageous to the company since it made the employees share the ideas out of the strategy that the manager created that allowed them to share ideas on the companies operations and make corrections and improvements where it was necessary. The result of these steps by the manager was tremendous, easy maintenance of the competitive advantage, noticeable growth, and increased class when compared to other companies and just being informed in terms of knowledge. It was success for Jegrins. Jegrins manager feels that knowledge strategies that suit respective companies are one of the ways to maintain competitive advantage in insurance companies since knowledge is the basis of competition and improvement. According to Jegrins’ manager, when the company has knowledge from the external environment, there are very high chances of improvement and maintaining a competitive advantage. Internal knowledge also contributes to the improvement and competitive advantage too since the main subject here is the employees and the employees have a big role to play in the company. They are the one who run it through their routine duties and experiences.

The Sports Ethics Of Sports - 975 Words

Milan Hosta argues the ethicality of sports lying within the true meaning behind the game being played. Whether the ethics lies with the players of the game, the money it brings, or the sole concept of the sport, ethics is still a major question in this situation. Are sports more than just a game, when we look further into it? Milan explains that rules of sports are based up of moral principles to differ right from wrong in a game. Sports are more than just game. They justify people’s character and morality of each situation and take more than just a passion to play a game. The major argument in this article is trying to justify just what sport ethics entails. For example, in boxing the rules entail to hit the other player but only in certain areas. Ethically and morally most would think this is wrong, however due to it being a sport people are more pron]e to think of it as a sport without ethics involved. Another example would be steroids. Most sports if not all are competit ion based and therefore the player or players have to win the game not only for them but also for their fans. Sports are supposed to be based off skills that are set around with boundaries, but with the intense society pressuring players to win and the affirmations and rewards received, it’s hard to play an ethical game. However, it also comes down to the ethos of the player. How the player justifies integrity and fairness amongst their teammates and their opponents. By all means, it is easier saidShow MoreRelatedEthics And Ethics Of Sports1260 Words   |  6 Pages2016 Ethical Issues in Healthcare Sports can be beneficial to children and adults. Participating in sports provides the opportunity to exercise and to have fun while doing it. Playing sports improves one’s overall physical fitness, strengthens social responsibility, contributes to academic success, and builds character values. According to Morgan Rush, during the 2010 and 2011 academic year, the U.S. Department of Health and Human Services reported that sports participation records in the UnitedRead MoreImportance Of Ethics In Sports1693 Words   |  7 PagesEthics in sport requires four essential virtues which are fairness, integrity, responsibility, and respect. Also, to understand the role of ethics while playing a sport and competition, it is important to make a distinction between gamesmanship and sportsmanship. Its some coaches that operate with the mindset of having a â€Å"gamesmanship† mind which means that theyre built on the principle that winning is everything. Coaches and athletes are e ncouraged to bend the rules wherever possible to gainRead More Ethics in Sports Essay1942 Words   |  8 PagesEthics in Sports My name is john doe and I am the sports and recreation advisor for Stevenage. I am writing to every head of PE to express my feelings and opinions towards ethics and values in schools. My personal view of values in sport is that it comes down to the player’s beliefs in the sport and the standard he or she sets. For example whether a team member puts in 100% effort in the sport they are playing. I define ethics in sport as the moral rules, principles and values, perhapsRead More Sports Ethics Essay2663 Words   |  11 PagesSports Ethics Vince Lombardi, most likely the best coach to ever lead a team to victory or multiple ones on a football field. His ethics sometimes questionable, but never misunderstood, were always meant to lead and encourage his team to be nothing but the best, and the best was achieved in 1967. After nine incredible winning seasons with the Green Bay Packers, Lombardi decided to retire as head coach. 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His ethics sometimes questionable, but never misunderstood, were always meant to lead and encourage his team to be nothing but the best, and the best was achieved in 1967. After nine incredible winning seasons with the Green Bay Packers, Lombardi decided to retire as head coach. The Packers had dominated professional football under his direction, collecting six division titles, five NFLRead MoreThe Ethics of Sport Hunting Essay2288 Words   |  10 PagesAldo Leopold pioneered â€Å"land ethics† in the first half of the 20th century. Inspired by Leopold, his fellow professor at the University of Wisconsin, Van Rensselaer Potter, coined the term â€Å"bioethics† in the second half of the 20th century (1970). Both terms have a po werful social and personal component. Both terms connote an integration of values and the environment. So, too, do â€Å"hunt ethics,† an integration of values and an action based upon biology and the ‘land.’ The hunter has affection andRead MoreThe Ethics Of The Sports Apparel Industry3201 Words   |  13 Pagesathletic market world, being the number one is what many athletes strive for—that is what sets the standards for many sport clothing companies, to deliver products that allow athletes increase their performance while striving to take the number â€Å"one† spot. Under Armour works to deliver products that do that and more. Under Armour is currently one of the leading companies in the sports apparel industry whose mission is to â€Å"Make all athletes better through passion, design, and the relentless pursuit ofRead MoreThe Ethics Of The Byu Idaho Sport Organization773 Words   |  4 Pagesorganizational theory and the management of sport organizations along with organizational goals and effectiveness. Through the writings of Slack and Parent in Understanding Sport Organizations, the aforementioned topics were well versed in delivering information to be prepared for this reflection. Describe one of the â€Å"Ways to Look at Sport Organizations† (Chapter 1) using the athletic department described in the case study (or you can select another sport organization for which you are more familiar)Read MoreSports And Its Impact On Sports946 Words   |  4 PagesSports have advanced very fast similarly to technology. They have been impacting not only the athlete’s lives, but the coaches and spectators also. Milan Hosta has gone on to explain many different topics within the article â€Å"Ethics and Sport: Whose Ethics, Which Ethos- A Prolegomenon†. Milan Hosta unclearly gives knowledge to his audience on the ethics in sports, in which it makes the article seem very scattered and unorganized. He begins by giving the reader some background on past ethics in sports

Polis - Ancient Greek City-States

The polis (plural, poleis)—also known as a city-state—was the ancient Greek city-state. The word politics comes from this Greek word. In the ancient world, the polis was a nucleus, the central urban area that could also have controlled the surrounding countryside. (The word polis could also refer to the citys body of citizens.)  This surrounding countryside (chora or ge) could also be considered part of the polis. Hansen and Nielsen say there were around 1500 archaic and classical Greek poleis. The region formed by a  cluster of poleis, bound geographically and ethnically, was an ethnos (pl. ethne).   Pseudo-Aristotle defines the Greek polis as an assemblage of houses, lands, and property sufficient to enable the inhabitants to lead a civilized life [Pounds]. It was often a lowland, agricultural central area surrounded by protective hills. It may have started as numerous separate villages that banded together when its mass became large enough to be almost self-sustaining. The Largest Greek Polis The polis of Athens, the largest of the Greek poleis, was the birthplace of democracy. Aristotle saw the household oikos as the basic social unit of the polis, according to J. Roy. Athens was the urban center of Attica; Thebes of Boeotia; Sparta of the southwestern Peloponnese, etc. At least 343 poleis belonged, at some point, to the Delian League, according to Pounds. Hansen and Nielsen provide a list with member poleis from the regions of Lakonia, the Saronic Gulf (to the west of Corinth), Euboia, the Aegean, Macedonia, Mygdonia, Bisaltia, Chalkidike, Thrace, Pontus, the Pronpontos, Lesbos, Aiolis, Ionia, Karia, Lykia, Rhodes, Pamphyli, Kilikia, and poleis from unlocated regions. The End of the Greek Polis It is common to consider the Greek polis ended at the Battle of Chaironeia, in 338 B.C, but An Inventory of Archaic and Classical Poleis argues that this is based on the assumption that the polis required autonomy and that was not the case. Citizens continued to run their citys business even into the Roman period. Sources An Inventory of Archaic and Classical Poleis, edited by Mogens Herman Hansen and Thomas Heine Nielsen, (Oxford University Press: 2004).An Historical Geography of Europe 450 B.C.-A.D. 1330; by Norman John Greville Pounds. American Council of Learned Societies. Cambridge University Press 1973.Polis and Oikos in Classical Athens, by J. Roy; Greece Rome, Second Series, Vol. 46, No. 1 (Apr., 1999), pp. 1-18, citing Aristotles Politics 1253B 1-14.

Marketing Plan - 3427 Words

Contents 1.0 Executive Summary 5 2.0 Situation Analysis 6 2.1 Market Summary 6 2.1.1 Market Demographics 7 2.1.2 Market Needs 8 2.1.3 Market Trends 9 2.1.4 Market Growth 10 2.2 SWOT Analysis 10 2.2.1 Strengths 10 2.2.2 Weaknesses 11 2.2.3 Opportunities 11 2.2.4 Threats 11 2.3 Competition and Buying Patterns 12 2.4 Product Offering 12 2.5 Keys to Success 13 2.6 Critical Issues 14 3.0 Marketing Strategy 14 3.1 Mission 14 3.2 Marketing Objectives 15 3.3 Target Markets 15 3.4 Positioning 16 3.5 Strategies 17 3.6 Marketing Mix 18 3.7 Marketing Research 19 4.0 Financials 19 4.1 Sales Forecast 19 4.2 Expense Forecast 20 5.0 Controls 20 5.1 Implementation 21 5.2 Marketing Organization 21 5.3 Contingency Planning 21†¦show more content†¦Although the average American woman is a size 14, the majority of clothing lines are designed with thin women in mind. Additionally, plus-size women looking for the latest trends often find themselves purchasing clothes they are not particularly fond of due to the lack of fashionable selections. Currently, plus-size women must either order their clothes from catalogs or have them custom made. In addition, Miami offers very little options in regards to physical retail stores carrying plus size fashions at affordable prices. Natural Curves seeks to fulfill the following benefits that are important to its customers. • Selection: The largest selection of fashionable plus size fashions designed with different age groups in mind. • Accessibility: The central location in downtown Miami and wide range of business hours designed to accommodate all customers needs. • Customer service: Our customers will be impressed with the degree of care that they receive. • Competitive pricing: All products will be priced competitive to the Miami/Ft. Lauderdale market. • Flattering Clothing: Natural Curves built in shape wear will make the entire clothing line flattering to all plus-size women. • Convenience: Our customers will now be able to try on clothes before purchasing them.Show MoreRelatedA Marketing Plan For A New Marketing Strategy966 Words   |  4 Pagesthe governmental legal requirements and, on the other hand, defines the organization’s policy administration. For a triumphant marketing plan, understanding the government legal approaches allows for efficient operation and inter-relationship with other organization. Similarly, internal legal policies allow the company to uphold its operation in a set manner. 4.0: Marketing Audit A market audit process is a tool that can never be neglected despite the situation. However, very few companies carryRead MoreMarketing Plan For A Small Business2998 Words   |  12 Pagesin detail. †¢ The benefits of TQM when implementing the strategic plan to meet goals or increasing profit within a small business. †¢ The economy’s motivation of small businesses stability as compared to large businesses that are well established, also the financial assistance of other organization including the government. †¢ Different categories of a company and the importance of CRM to any size business. †¢ To compare the marketing plan of a small business and a large business where it reflects theRead MoreMarketing Plan827 Words   |  4 Pagesï » ¿Marketing Business Environment Marketing Planning: An Overview of Marketing 6 main questions to ask in order to create your marketing plan: 1. Where are we now? (Business Mission, Marketing audit, SWOT analysis) 2. How did we get here? (Business Mission, Marketing audit, SWOT analysis) 3. Where are we heading? 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The trips have been well received, and marketing is now critical to its continued success and future profitability. Blaze Mountain travels and tours offer concepts like ecotourism and sustainable tourism to older tourists and hard adventure trips to the student tourists. This target market appreciatesRead MoreMarketing Plan3688 Words   |  15 PagesSITUATION ANALYSIS The marketing environment for LIMCOMA represents overwhelming opportunities. It also contains some challenges that the firm believes it can meet successfully. An illustration below shows a SWOT analysis of the company to highlight LIMCOMA’s strengths, weaknesses, opportunities, and threats. Strengths LIMCOMA’S dedicated founders understand the target market and products. LIMCOMA has achieved distribution in several markets with quick acceptance The firm has a very littleRead MoreMarketing Plan3847 Words   |  16 PagesA marketing plan is a comprehensive blueprint which outlines an organization s overall marketing efforts. A marketing process can be realized by the marketing mix, which is outlined in step 4. The last step in the process is the marketing controlling. The marketing plan can function from two points: strategy and tactics (P. Kotler, K.L. Keller). In most organizations, strategic planning is an annual process, typically covering just the year ahead. Occasionally, a few organizations may look atRead MoreMarketing Planning : The Marketing Plan Essay1545 Words   |  7 PagesTo attract mixed segment ther is need to marketing planning is indeed the key to the whole marketing process. The marketing objectives state just where the company intends to be; at some specific time in the future. James Quinn succinctly defined objectives in general as: Goals state what is to be achieved and when results are to be accomplished, but they do not state how the results are to be achieved. They typically relate to what products will be where in what market. They are essentiallyRead MoreMarketing Plan For Subway Marketing1516 Words   |  7 PagesExecutive summary The marketing plan has close ties with the overall financial and business plan. This plan contents a strategy for success, and breaks it down into coherent, actionable components that will aid The Sub Shop to implement marketing activities to provide a firm return on investment. The following areas will help explain how the company plans to differentiate the business and product offering from the competition, and define the strategy that will drive its business forward. The aimRead MoreMarketing Plan1891 Words   |  8 Pagesa breakeven point in the second year after opening the store and become profitable in the third year of being in this business. In the first year, our profits will be low, due to low sales and high distribution, inventory, marketing and advertising and sales expenses. Marketing expenses will be very high in the first year. We have to inform the customers about this new product and get the consumers to try out this new concept. It will take â€Å"Just passin’ Thru† some time to build up the customer base

Developing the management skills Free Essays

Irrespective of the cadre one is employed in, a modest behavior with one another, at all times is essential to not to give rise to behavior problems which in turn require an exercise of motivation tool by the management. However, problems set to arise when different mindsets come together for the purpose of work and solutions are always available for every problem of behavior in an organization. Appreciably EL, a professional organization, has appointed a consultant, an outsider to analyze the behavior of its employees to enable a crystal clear picture of employees behavioral and motivational problem. We will write a custom essay sample on Developing the management skills or any similar topic only for you Order Now EL behavioral and motivational guidelines are excellent in setting a pattern of standards for employees. As it appears, engineers who form 88 per cent, are predominantly important for the operations whereas on this basis, the other employees are in some ways are encountering behavioral problems with engineers. There are no weaknesses for EL whereas the company has the ability to manage people well except to the fact that complete decision making is under the guidance of company’s President. As for the President of EL, the high priority task would be to allow an open discussion forum of both engineers and administrative employees and consider written proposals for handling behavioral problems and after a thorough analysis of paper work, consider a motivational workshop wherein both engineers and administrative staff are encouraged to maintain harmony in workplace without giving cause to indifferent attitudes in work place. Per se, salaries, turnover, office and facilities are perfect and employees also have the support of consultant to discuss and put forth the issues that are causing concern. Conclusion Scotland workshop on motivation considers that   FUN = ENERGY = MOTIVATION = FOCUS = RESULTS.   Individual performance as well teamwork is important for organizations to deliver quality work.   In order to train employees for total quality management   (TQM) awareness workshops must be conducted to encourage employees to exercise sharpening of skills,   explore individual strengths and lacunae areas. Finally, perfect and appropriate communication   solves half of the problems as a powerful motivational tool. References Motivated to succeed Accessed on 8 April 2007 http://www.scotlandis.com/content_files/downloads/wet%20loth%20it.pdf Blaire Palmer (2005), Optimum Newsletter – Manager vs leader Accessed 8 April 2007 http://www.optimum-coaching.co.uk/news/motivation_newsletter_apr05.htm How to cite Developing the management skills, Essays

Managing Human Resources OCBC Bank

Question: Discuss about theManaging Human Resourcesfor OCBC Bank. Answer: Diversity Appropriate Training Methods for Different Category of Workforce The training methods for the different categories of the workforce are as follows: Technology-Based Training A trainer needs to understand the desired skills of the different employees and then it should assist them with the different aspects of the technology as to increase its skills (ATG Educational, 2016). This includes PC based training; web-based training which finally enhances the overall performances of the employees concerned. Simulators These are mainly used for imitating the real work experiences of the employee coming from different cultural backgrounds. On-The-Job Training Reading of the training manuals, the combination of the explanation from the trainers as well as its practice helps in evaluating the effectiveness of the employees concerned. Moreover, the use of collaboration and cooperation by the employees helps in understanding the importance of the diversity practice in a workplace (Itika, 2016). Coaching/Mentoring Hiring the experienced trainers is important as to understand the desired skills and mental level of the different employees from the diverse workforce. It becomes the primary role of the trainers to spread the message of working together irrespective of the discrimination practices which occurs within the diverse workforce. Lectures The lectures delivered by the trainer as well as the managers helps in providing the desired knowledge on the work processes of the firm and it helps in understanding the importance of the diversity management practices. Discussion and Tutorials It helps those employees who are unfamiliar regarding the implementation and the execution of the business processes of the work processes and moreover, it helps in understanding the issues coming between the work processes. Usefulness of Training Evaluation The training evaluation will help in understanding the desired business requirements in a more effective way (Schmitz, 2016). On the other hand, it will help in spreading the desired message of diversity management practices within the workplace concerned. It becomes more important for the employees coming from diverse culture to understand the importance of collaboration and cooperation as it helps in increasing the overall processes of the firm concerned. The training evaluation will help OCBC Bank to increase its overall performances and to enhance the profitability and productivity rate ("OCBC Bank Singapore - Personal Banking, Business Banking, Wealth Management", 2016). There are three important benefits of training evaluation, they are as follows: Evaluation helps in ensuring the accountability Training evaluation helps in providing complete training needs of the employees with the identification of the competency gaps that comes in the execution of the work processes (Shapiro, 2016). Checking the costs It improves the quality of the work, attitudes, skills and the desired behavior of the employees within the confined budget. OCBC Bank can significantly improve the quality of the work processes from the employees by assisting them with good quality of training within a particular budget. Providing Feedback to the training/trainer The collection of the feedback from the trainer helps in identifying the desired areas for improvement of the employees and the entire training methods can be improved considering the diverse culture of the employees. Fair Grievance Handling Positive Influence and Negative Influence using Social Media for Work-Related Issues in Workplace The use of the social media has negative along with positive affects the concerned workplace of any of the firm concerned. Distraction is one of the negative effects of using social media within a concerned workplace (Truss, Mankin, Kelliher, 2012). The accessing of the social media websites during the work processes critically hampers their work and affects the business processes of the firm. The employees losses their valuable work time while updating their status and personal pictures and therefore, it becomes very important for the employees to avoid the use of these websites in their concerned work areas. Moreover, it gives rise to some of the crucial work-related issues, which significantly affects the firm. On the other hand, the development of the public relations is one of useful aspects of social media. Social media can be effectively used as the strongest promotional tool for doing the advertisements on behalf of the company (Shapiro, 2016). It is very inexpensive and useful tool for blogging and posting positive media reviews on different external links. It can be used by OCBC Bank for a gathering of the mailing lists of the people and can attract a large number of the clients highlighting the desired benefits of the firm. References ATG Educational, A. (2016).www.atg-edu.com. Retrieved 15 November 2016, from https://HUMAN RESOURCES MANAGEMENT Erika, J. (2016).Fundamentals of human resource management. Retrieved 15 November 2016, from https://openaccess.leidenuniv.nl/bitstream/handle/1887/22381/ASC-075287668-3030-01.pdf?sequence=2 OCBC Bank Singapore - Personal Banking, Business Banking, Wealth Management. (2016).Ocbc.com. Retrieved 15 November 2016, from https://www.ocbc.com/group/group-home.html Schmitz, A. (2016).Beginning Management of Human Resources.lardbucket.org. Retrieved 15 November 2016, from https://2012books.lardbucket.org/pdfs/beginning-management-of-human-resources.pdf Shapiro, J. (2016).Human resource management.London international.ac.uk. Retrieved 15 November 2016, from https://www.londoninternational.ac.uk/sites/default/files/programme_resources/lse/lse_pdf/subject_guides/mn3075_ch1-4.pdf Truss, C., Mankin, D., Kelliher, C. (2012).Strategic human resource management(1st ed.). Oxford: Oxford University Press.

Online Banking Essays - Financial Services, Economy, Finance

Online Banking Banking Online Imagine banks without tellers, desks, brochures, or ATM's. Picture, a virtual bank, residing inside of a computer, projected by images on a computer screen. US financial institutions are moving towards virtual banking?; a strategy making bank services available to customers any time and place they need them. Banks are offering more services as virtual banking becomes more popular, while the number of traditional teller-staffed branches are declining. Bank customers are moving away from traditional banking and becoming dependent on electronic transactions using ATMs and PCs. Thanks to this technology, financial institutions are using software programs, online services, and even the internet to allow customers to check balances, pay bills, and transfer funds among accounts. Bankers promise that, in the near future, we will be able to buy certificates of deposit, mutual funds, other investments, and even apply for loans electronically. Many people's best option is to plug into their bank through software. Intuits Quicken, Microsoft Money, and Managing Your Money are the top home budgeting programs allowing users a way to harness their assets through their PC. In order to use this software properly all a customer needs is a personal computer, software and a modem. On-screen instructions, laden with colorful graphics and pictures, explain how to select and work on various tasks. The system automatically calculates and updates account balances and keeps records of bills. By charging $5 to $20 a month for these services, banks will cash in on the high-tech superhighway. Internet banking differs from traditional PC banking in several ways. Banks have already set up home pages on the Internet to provide information to their existing and potential customers about upcoming services. In most home banking ventures, the bank sends application software to the customer. The customer then dials into the bank using their modem, downloads and uploads data, and runs the programs they previously installed on their computer, sending back a batch of requests such as transfers between accounts. With Internet banking, on the other hand, potential customers already own the software they need to do their banking: an internet browser. The actual banking software resides on the bank's server in the form of their home page. The company can easily present new information, change prices, or introduce new products without expensive advertising and mailings. In addition, the virtual bank can implement system enhancements online so that they do not interfere with normal business. By not commuting to banks customers save time and money. If cash is not an issue at the time of a transaction, then Internet banking is very useful. This new concept may catch on and become a profitable venture for banks. Early entrants in the Internet banking market will benefit on multiple fronts. These banks will appeal to a vast market and attract educated, professional, affluent and efficient people. The new customers will cut bank costs by visiting branches less frequently and switching from paper to electronic transactions. More importantly, by developing internal expertise today, banks can position themselves to react quickly to competitive moves and consumer trends as the financial services industry evolves. These banks will see the benefits as early players and enjoy the public relations boost that comes from being market leaders. Once people accept this more efficient way of banking, there will be less need for offices. This method is not at all a way to end banks, more like a convenient addition for customers. This technology is in the future, but at the same time just around the corner. Online banking will become a great way for people to control their money. Business Reports