Techniques of Job redesign

Job rotation

A job design technique in which employees are moved between two or more jobs in a planned manner. The objective is to expose the employees to different experiences and wider variety of skills to enhance job satisfaction and to cross-train them.

job enlargement

A job design technique in which the number of tasks associated with a job is increased (and appropriate training provided) to add greater variety to activities, thus reducing monotony.

Job enlargement is considered a horizontal restructuring method in that the job is enlarged by adding related tasks. Job enlargement may also result in greater workforce flexibility.

job enrichment

A job design technique that is a variation on the concept of job enlargement. Job enrichment adds new sources of job satisfaction by increasing the level of responsibility of the employee.

While job enlargement is considered a horizontal restructuring method, job enrichment is a vertical restructuring method by virtue of giving the employee additional authority, autonomy, and control over the way the job is accomplished. Also called job enhancement or vertical job expansion.

Describe the HRP process? Or what do you understand by manpower planning? Explain the steps in manpower planning?

1. The objectives of HR plan must be derived from organizational objectives. Specific requirements in terms of number and characteristics of employees should be derived from the organizational objectives.
   
   Organizational objectives are defined by the top management and the role of HRP is to sub serve the overall objectives by ensuring availability and utilization of human resources.
2. 
   Once the organizational objectives are defined by the top management and the role of HRP is to sub serve the overall objectives by ensuring availability and utilization of human resources.
3. 
   Once the organizational objectives are specified, communicated and understood by all concerned, the HR department must specify its objectives with regard to HR utilization in the organization.

HR Demand Forecast

Demand forecasting is the process of estimating the future quantity and quality of people required. The basis of forecast must be annual budget and long-term corporate plan, translated into activity levels for each function and department.

There are several good reasons to conduct demand forecasting

WILL YOU MARRY YOUR WIFE AGAIN?

BY: HITESH PARIKH

An insurance agent asked above question to the prospective client when he argued that his wife can always marry again. I do not know the reply….but the agent got the business.

Why I am asking you?

Over last 20 years I have observed unique psychology of a normal investors and unique characteristic of market. Let me deal with the psychology first.

Psychology of Normal Investor:-

When they listen / read from an expert that market will go up, they feel happy that prices of their loss making shares will also go up!! They hold their 90% loss making shares hoping when market goes up, they will at least get back their invested capital. But does this happen? Let us look at the unique characteristic of the market.

Behavior of market in last 20 years:-

In 1992, the theme was Cost Replacement…

Accounting Downloads

ACCOUNTING BASICS

How does the State Bank of Pakistan control the banking system of the country?

   In the following salient features of the State Bank of Pakistan to control the banking system are discussed which are mainly instruments used in Pakistan since all the conventional control techniques are not applicable in developing countries:

Bank rate

This is the rate at which the State Bank buys or discounts bills of exchange and other commercial papers. This is also the basic interest rate. All the other interest rates in the banking system, like the deposit rate paid by the banks to their depositors and the rates at which bank lend for short and long periods, are tied to it. With any change in the bank rate, similar changes take place in the entire interest rate structure of the banking system.

Cash Reserve Requirement

All scheduled banks are required to deposit a certain percentage of their total liquid assets with the State Bank. Technically, the government can bring about a change in reserve requirement but normally the State Bank exercises this authority on the government's behalf. A rise in the
cash reserve requirements restricts the bank’s lending operations while a fall can encourage them to advance more credit.

Selective Credit Control

The State Bank usually have considerable authority to control the composition of bank credit. SBP can direct banks regarding the distribution of credit between different sectors and uses, between long term and short-term loans, margin requirements for

advances against certain types of assets and the interest to be charged on different types of advances and from different borrowers.

Credit Ceiling

A credit ceiling for the banking system as a whole or for each individual bank, can exercise some influence over the total volume of credit though not on its direction or use.

Liquidity Ratio

This is the ratio between a bank’s liquid resources and its total liabilities. While a low liquidity ratio may lower public confidence in the banking system and may also allow banks to liquidate their investments in government securities to finance credit expansion, a high ratio adversely affects the credit flow in the economy and the overall profitability of the bank.

Open market operations

This consists of the purchase and sale of securities by the State Bank in the open market. The quantity of cash in the money market increases with the purchase of securities whereas their sale has contra-dictionary effect.

Credit Quota

The State Bank can also limit its own lending to banks by fixing a credit quota for each bank and borrowing over and above the limit may carry a higher interest rate.

In Pakistan, in addition to these instruments, the State Bank of Pakistan also offers informal advice, guidance, and persuasion to banks in various matters. Such informal control may have become fairly important particularly after the nationalization of banks and the consequent unification of their operating policies.

Actuating/ Leading

Actuating/Leading is considered the foundation of the management function. This is one of the four basic functions of management. It is the process of influencing others to engage in the work behaviors necessary to achieve organizational goals. Once the organizational structure is in place and people have been assigned their tasks, in leading managers work directly with all members of the organization to help them, understand their goals and make their best possible contribution.

Ability to lead others is a critical skill. Leading efforts are highly personalized and herein lies much of the challenges. In leading, a leader has the following basic challenges: Challenge of Actuating/ Leading Communicating with others. Helping to outline a vision of what can be accomplished. Providing direction. Motivating organization members to put forth the substantial effort required.

How Big Are You? An Amazing Presentation

Now, this is really fascinating. This image shows the size of Earth compared to some other planets in our solar system.

The image below shows Earth compared to some of the larger planets in our solar system. Look how small we are compared to Jupiter, Saturn, Uranus and Neptune! About 1,400 Earths can fit inside the Jupiter.