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Banking in India originated in the last decades of the 18 th century. The first bank
were the general bank of India which started in 1786, and the bank of Hindustan, both of which are now defunct. The oldest bank in existences in India is a state bank of India, which originated in the bank of Calcutta in june1806, which almost immediately became the bank of Bengal this was one of the three presidency banks, the other two being the bank of Bombay and the bank of madras, all three of which were establish under charters from the British East India company. From many years the presidency banks acted as quasi-central banks, as did their successors. The tree banks merged in 1921 to form the Imperial Bank of India, which upon Indias independence, become a State Bank of India.
1848 as a consequence of the economic crisis of 1848-49. The Allahabad Bank, established in 1865 and still functioning today, it is oldest joint stock bank in India, (joint stock bank: A company that issue stock and required shareholders to be held liable for the companies debt) It was not the first though. That honor belongs to the bank of upper India, which was established in 1863, in which survived until 1983,when it failed with some of its assets and liabilities being transferred to the Alliance Bank of Simla.
When the American Civil war stopped the supply of cotton to Lancashire from
the Confederate States, promoters opened banks to finance trading in Indian cotton
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Comptoire dEscompte de Paris opened a branch in Calcutta in 1860, and another in Bombay in 1862,branches in Madras and Pondicherry, then a French colony followed. HSBC established itself in Bengal in 1869, Calcutta was a most active trading port in India, mainly due to trade in British Empire, and so become a banking sector.
The first entirely Indian joint stock Banks was the oudh commercial bank
established in 1881 in Faizabad. It failed in 1958. Next was the Punjab National Bank, in Lahore in 1895 which was survived to present and is now one of the largest bank in India.
The presidency banks dominated in India but there were also some exchange
banks and number of Indian banks. All this banks operated indifferent segments of economy. The exchange banks, mostly owned by Europeans concentrated on financing foreign trade Indian joint stock banks were generally under capitalized and lacked and experienced in maturity to compete with presidency exchange banks. The segmentation let Lord Curzon to observe, In respect of banking it seems we are behind the times we are likes some old fashion selling ship, divided by solid wooden bulkheads in to separate an cumbersome compartments.
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HISTORY
Banking in the modern sense of the world can be tracked to medieval and early
Renaissance Italy, to the rich cities in the north like Florence, Venice and Genoa. The Bardi and Peruzzi families dominated banking in 14th century Florence, establishing branches in many other parts of Europe. Perhaps the most famous Italian bank was the Medici Bank, set by Giovanni Medici in 1397.The earliest known state deposit bank , Banco di san Giorgio (Bank of state), was founded in 1407 at Genoa Italy
Banks can be tracked back to times even before money temples were used to
store commodities. During the 3rd century AD, Banks in Persia and territories. Muslim traders are known to have used the cheque or sakks system since the time of Harun al-Rashid (9th century) of the Abbasid caliphate. In the 9th century, a Muslim businessman could cash an early form of the cheque in China drawn on sources in Bagdad. A tradition that was significantly strengthened in the 13 and 14th century. They contain some to be paid and then the order May so and so pay the bearer such an amount. The date and name of the issuer are also apparent.
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DEFINITION OF BANKING
In general terms, the business activity of accepting and safeguarding money owned by other individuals and entities, and then lending out this money in order to earn profit.
A bank is an institution, usually incorporated with power to issue its promissory note intended to circulate as money (known as bank notes.)or to receive the money of others on general deposit ,to form a Joint fund that shall be used by the institution, for its own benefits, for one or more of the purpose of making temporary loans and discounts, of dealings in notes foreign and domestic bills of exchanges, coins, bullions, credits, and remission of money, or with both these powers and with the privileges.
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NATIONALIZATION OF BANKS
The RBI was nationalized on January 1, 1949 in terms of the RBI (Transfer to By the 1960s, the Indian banking industry had become an important tool to
facilitate the development of Indian economy. AT the same time, it had emerged as a large employer, and the debate had ensure about the possibility to Nationalized the banking industry.
Indira Gandhi, the Prime Minister of India expressed the intension of GOI in the
annual conference of the of the all India Congress Meeting in a paper entitled stray thoughts on bank nationalization. The paper was received with positive enthusiasm. Thereafter, her move was swift and sudden, and the GOI issued an audience and nationalized the 14th largest commercial banks with effect from the midnight of July 19, 1969. Jayaprakash Narayan, a national leader of India, describe the setup as the masterstroke of political sagacity. A second dose of nationalization of 6 more of commercial banks followed in 1980. The stated reason for nationalization was to give the government more control of credit delivery.
With the second dose of Nationalization, the GOI controlled around 91% of the
banking business of India. Later on, in the year 1993, the government merged new Bank of India with Punjab National Bank. It was the only merger between nationalized banks and resulted in the reduction of the number of nationalized bank from 20 to 19.After this, the 1990s,the nationalized banks grew at a pace of around 4%,closer to average growth of Indian economy.
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BANKING
A bank is a financial intermediary that accepts the deposits and channel those
deposit into lending activities, either directly or through capital market. A bank connect customer with capital deficits to customers capital surplus.
financial activities by bank have varied over time and location. The current setup global banks capital standard are called Basel 2.In such countries such as Germany, bank have historical owned major stakes in industrial corporation while in other countries such as united bank state banks prohibited from owning non-financial companies in Japan, banks are usually the nexus of a cross-shares holding entity knows as the keiretsu. In island banks have very light regulation prior to the 2008 collapse.
The oldest banks still in existences in Monte dei Paschi di Siena, head quarter in
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The word bank was borrowed in Middle English from Middle French banque,
from old- Italian banca, from old -high German banc, bank bench, counter. Benches, used as desks or exchange counter during the Renaissance by Florentine bankers, who used to make the transactions a top desks covered by green tablecloths.
drachm coin from ancient Hellenic colony Trabzon on the black sea, modern Trabzon, c. 350-325 BC, presented in British museum in London, the coin shows a bankers stable laden with coins, a pun on the name of the city. In fact even today Modern Greek the word trapeze means both a table and a bank.
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Initially all the banks in India were private banks, which were founded in the Pre-
Independence era to cater to the banking needs of the people. In 1921, three major banks that is bank of Bengal, Bank of Bombay, and Bank of Madras, merged to form Imperial Bank of India. In 1935,the RBI was established and it took over the central banking responsibilities from the imperial bank of India, transfering commercial banking functions completely to IBI. In 1955, after the declaration first-five year plan, imperial bank of india was subsidiary transfer to State Bank of India. In 1994,the reserve bank of India issued a policy of Liberalization to license limited number of private banks which came to known as generation tech-savvy banks. Global trust banks was, thus, the first private banks after liberalization, it was letter amalgamated with oriental bank of commerce. (OBC). Then housing development finance corporation limited (HDFC) became the first (still existing) to receive an in principal approval from the RBI to setup a bank into a private sector.
Private banks in India started by bank has a history due to the fact that in a past
year were originally working in private during those days they were supposed to handle the more able and Indian with banking service and other banking needs that they would require all this activities happened around 1929.
During that time there was the Bank of Bengal , Bank of Bombay and bank of
In the year of 1935 the reserve bank of India was build and it became the center
of other banks taking away the imperial responsibilities that include the transfer of commercial banking completely
The private banks in India after the changes a lot of other banks accord in India
on 19th July 1969. The government of India had given out and audience and nationalized 14th big commercial Banks that includes Punjab National Banks, Allahabad Bank, Canara Bank, Central Bank of India among others, other public banks came upto take leading roles in banking routine.
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Public sector banks like State Bank of India, Bank of Baroda, Syndicate Bank,
Canara Bank. This are backed by government of India so depositor money is safe. Public Sector Banks are some of the oldest bank are and have a reasonable charges for most services. Many of the branches of this banks are not network but they are slowly introducing banking, ATM cards and other facilities, some times it requirements are not correctly estimated and this results in problems for customers over experiences is that they offer better services compared to all other types of banks.
Provident Fund (PPF) accounts, which offer tax free returns, can be opened at the
State Bank of India branches. If you do not operate the accounts in the branches for a long time-a period of more than one year, the account becomes inactive and additional verifications is required to make it active.
Most branches are opened for limited time in the morning, which is very 9 to 5 job, who
have to reach office in time there employers are unionized and often strike work.
United Bank of India is a one of the 14th major banks which is nationalized on
July 19, 1969. It predecessor, in the Public Sector Bank of India, The United Bank of India Limited, was formed in 1950 with the amalgamation of four banks Viz. Comilla Banking Corporation Limited (1914), Bengal Central Bank Limited (1918) Comilla Union Bank Limited (1922) and Hooghly Bank Limited(1932).
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organization human resources needs in the light organizational goals and changing conditions and making plans to ensure that a competent, stable work forces is employed. There are three resources that are critical for an organizational to be successful and attain its goals are: Financial resources (money) Physical resources ( building and equipment) Human resources (People)
While mangers pay great deal of attention in then planning of the first and second
resources, human resources are often neglected or taken for granted. This the terrible mistake because no organizational can be successful in the long run without having the right number of people and right kind of people doing the rights jobs at the right time, hence HRP assumes vital importance.
STRATEGIC PLANNING
The human resources leader is generally the person with whom executive leadership has the most communication. The goal of human resources is to bolster the company & reputation through hiring, training and promoting employees who represent the company& highest level of service and product delivery. Strategic planning from the human resources perspective also means that the human resources leader plays an integral role in the development of organization-wide goals and objectives. For many years, human resources was considered merely an administrative section of the organization concerned only with processing new hires, payroll, health insurance forms. Today, human resources leaders with progressive companies are represented at the executive level in vice president and assistant vice president roles to provide strategic development for business success.
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Organizational Development:
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it has the right people in place it has the right mix of skills employees display the right attitudes and behaviours, and employees are developed in the right way
If, as is sometimes the case, organisation strategies and plans have been developed without any human resource input, the justification for the HR strategy may be more about teasing out the implicit people factors which are inherent in the plans, rather than simply summarising their explicit "people" content. An HR strategy will add value to the organisation if it:
articulates more clearly some of the common themes which lie behind the achievement of other plans and strategies, which have not been fully identified before; and
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identifies fundamental underlying issues which must be addressed by any organisation or business if its people are to be motivated, committed and operate effectively.
The first of these areas will entail a careful consideration of existing or developing plans and strategies to identify and draw attention to common themes and implications, which have not been made explicit previously. The second area should be about identifying which of these plans and strategies are so fundamental that there must be clear plans to address them before the organisation can achieve on any of its goals. These are likely to include:
workforce planning issues succession planning workforce skills plans employment equity plans black economic empowerment initiatives motivation and fair treatment issues pay levels designed to recruit, retain and motivate people the co-ordination of approaches to pay and grading across the organisation to create alignment and potential unequal pay claims a grading and remuneration system which is seen as fair and giving proper reward for contributions made wider employment issues which impact on staff recruitment, retention, motivation etc. a consistent performance management framework which is designed to meet the needs of all sectors of the organisation including its people
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career development frameworks which look at development within the organisation at equipping employees with "employability" so that they can cope with increasingly frequent changes in employer and employment patterns
policies and frameworks to ensure that people development issues are addressed systematically : competence frameworks, self-managed learning etc.
The HR strategy will need to show that careful planning of the people issues will make it substantially easier for the organisation to achieve its wider strategic and operational goals. In addition, the HR strategy can add value is by ensuring that, in all its other plans, the organisation takes account of and plans for changes in the wider environment, which are likely to have a major impact on the organisation, such as:
changes in the overall employment market - demographic or remuneration levels cultural changes which will impact on future employment patterns changes in the employee relations climate changes in the legal framework surrounding employment HR and employment practice being developed in other organisations, such as new flexible work practices.
Finding the right opportunity to present a case for developing an HR Strategy is critical to ensuring that there will be support for the initiative, and that its initial value will be recognised by the organisation.
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A major new internal initiative could present the right opportunity to push for an accompanying HR strategy, such as a restructuring exercise, a corporate acquisition, joint venture or merger exercise. A new externally generated initiative could similarly generate the right climate for a new HR strategy - e.g. Black economic empowerment initiatives. In some instances, even negative news may provide the "right moment", for example, recent industrial action or employee dissatisfaction expressed through a climate survey.
consult all stakeholders on the nature of the strategy; cultivate and develop allies and supporters of the strategy through the consultation process;
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focus on the benefits which are being derived from the strategy through talking to and persuading others, and by marketing the benefits of the strategy with concrete examples of how it has helped;
check that there is real commitment to the strategy at all levels of the organization;
give regular feedback on the implementation of the plan through employee newsletters, exhibitions etc;
where possible, build into the strategy quantifiable outcomes which can be easily monitored and evaluated, so that it is possible to show the effect;
make the strategy part of the induction process - especially for senior managers.
Source:
A Strategic Human Resource Management System for the 21st Century. Naval Personnel Task Force, September 2000 The six broad interconnected components of this system consist of three planning steps and three execution steps. The top three components represent the need for planning. Organizations must determine their strategic direction and the outcomes they seek. This is usually accomplished with some form of strategic planning. Classic strategic planning is
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First, the planning process is more agile; changes in plans are much more frequent and are often driven by events rather than made on a predetermined time schedule. Second, the planning process is more proactive. Successful organizations no longer simply respond to changes in their environment, they proactively shape their environment to maximize their own effectiveness. Third, the planning process is no longer exclusively top-down; input into the process comes from many different organizational levels and segments. This creates more employee ownership of the plan and capitalises on the fact that often the most valuable business intelligence can come from employees who are at the bottom of the organizational hierarchy. Lastly, the strategic planning process less reactive and more driven by line leadership.
Once strategic planning is under way, a process must be undertaken by the organization to design and align its HRM policies and practices to provide for organizational success. The remaining step in planning is to determine the quality and quantity of human resources the organization needs for its total force. The rest of the HR strategic system exists for and is guided by these plans, policies, and practices. These execution components contain mechanisms that generate the correct skill sets, invest in staff development and performance, and productively employ them in the organisation. The last component provides a
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ANALYSIS
Using the process model discussed earlier, the specific components of the HR Strategic Plan are discussed in greater detail below.
Many organisations cite their people as their primary source of competitive advantage. Successful companies continuously identify and adopt innovative human resource management policies and practices to sustain that advantage. More importantly, they structure work and design training, performance management, pay, and reward policies to help members of the organization succeed in achieving desired organizational outcomes. In other words, they integrate and align HRM policies and practices to reinforce employee behaviors that can best realize the leaders' strategic intent. In the most successful companies, the set of policies and practices that collectively make
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RECOMMENDED ACTIONS:
Conduct an external environmental scan and evaluate its impact on the organization Identify the organization's vision, mission and guiding principles Identify the mission's outcomes and strategic goals Consult all relevant stakeholders Evaluate the impact of legislation on the organization
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This stage focuses on the selection, design and alignment of HRM plans, policies and practices. Various options may be open to the organisation such as drawing on industry best practices. Emerging HRM policies and practices range from outsourcing certain non-core functions, adopting flexible work practices (Telework, work from home) and the increased use of information technology. Not every industry trend may be appropriate for a specific organization. In addition, it is essential that a costbenefit analysis of implementing new HRM policies and practices be undertaken. For example, the costs (monetary and in allocation of resources) of implementing a new job grading system may outweigh the benefit of such an undertaking. There may be more cost-effective alternatives available to the organization at this point in time. Particular HRM policies and practices may be necessary to support strategic organizational objectives, such as improving the retention of women in the organization or promoting diversity, especially the representation of designated groups amongst senior management.
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RECOMMENDED ACTIONS:
Conduct an employment systems review Identify appropriate human resource plans, policies and practices needed to support organisational objectives Identify relevant human resource best practices
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Determining future business requirements, especially those relating to manpower requirements, represents one of the most challenging tasks facing human resource practitioners. The development of a workforce plan is a critical component of any human resource strategy and one of the expected outcomes of human resource practitioners activities. Despite this, manpower or workforce planning, as well as succession planning, has only recently enjoyed a resurgence in popularity. To some extent this has been prompted by the need to develop employment equity and workplace skills plans and set numerical employment equity targets. The failure of many organizations to develop and implement workforce planning is rather indicative of the lack of strategic planning itself. Workforce planning is a systematic process of identifying the workforce competencies required to meet the company's strategic goals and for developing the strategies to meet these requirements. It is a methodical process that provides managers with a framework for making human resource decisions based on the organizations mission, strategic plan, budgetary resources, and a set of desired workforce competencies. Workforce planning is a systematic process that is integrated, identifies the human capital required to meet organizational goals,
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RECOMMENDED ACTIONS:
Determine the appropriate organisational structure to support the strategic objectives Structure jobs (competencies, tasks and activities) around key activities Develop a workforce plan designed to support the organisations strategic objectives Compile workforce profiles, identifying designated groups, an inventory of current workforce competencies, competencies required in the future and identified gaps in competencies
This process focuses on recruiting, hiring, classifying, training and assigning employees based on the strategic imperatives of the organisation's workforce plan. A comprehensive workplace skills plan will identify appropriate training priorities based on the organisations workforce needs now and in the future. New recruitment practices may need to be adopted to increase the representation of designated groups, or securing essential skills in the organisation. A comprehensive "learnership strategy" may assist in developing future workforce needs, identified either in terms of the organisations workforce plan or required in terms of industry black economic empowerment charters.
Evaluate recruitment and selection practices in light of the organisations strategic objectives Develop and implement a comprehensive workplace skills plan (with a thorough training needs analysis) Implement a learnership strategy Adopt or clarify occupational levels and category classifications
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HUMAN RESOURCES PLANNING IN BANKING 4.5 INVESTING IN HUMAN RESOURCE DEVELOPMENT AND PERFORMANCE
Traditional approaches to career planning, performance appraisals, reward management and employee development must be re-appraised in light of the vision, characteristics and mission outcomes as reflected in the HRM plans, policies, and practices. Development responses will aim to increase business skills, the application of business skills (sometimes called competencies) and the behavioural elements all of which contribute to an organisation's effective performance. In many ways, the Skills Development legislation have required organisations to re-engineer their developmental methods and practices. New concepts such as lifelong learning and recognising prior learning should form an integral component of the process of investing in employees. Clearly, where a workforce planning exercise reveals that there is little projected growth in the workforce or that promotional or career development
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Reward strategies aim to align the performance of the organisation with the way it rewards its people, providing the necessary incentives and motivation to staff. Its components can be a combination of base pay, bonuses, profit sharing, share options, and a range of appropriate benefits, usually based on market or competitor norms and the organisation's ability to pay.
Career pathing Performance appraisals Employee development and learning Reward Management (compensation and benefits) Promotions and job assignments Separation
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Finally, few organizations effectively measure how well their different inputs affect performance. In particular, no measures may be in place for quantifying the contribution people make to organizational outcomes or, more important, for estimating how changes in policies and practices, systems, or processes will affect that contribution. Implementing clear quantifiable measures, identifying milestones in the achievement of specific organisational goals, and using concepts such as a "balanced scorecard" will articulate the results of the HR Strategic Plan in measurable terms. Regular evaluation of the plan will also assist in fine-tuning the HR strategic plan itself.
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Evaluate organisation culture and climate Implement succession planning Evaluate HR strategy using quantifiable measures, e.g. balanced scorecard Revise and adapt HR strategy
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Stressing HR Importance
One of the beginning principles of HR planning stresses the importance of human resources. Engaging leadership that understands the impact of a functional human resources department is the best way to adhere to this principle. The Encyclopedia for Business, 2nd Edition, states: "Business consultants note that modern human resource management is guided by several overriding principles. Perhaps the paramount principle is a simple recognition that human resources are the most important assets of an organization; a business cannot be successful without effectively managing this resource." One way to realize the importance of HR is to envision an organization with neither a productive workforce nor the type of support that human resources planning and management provides.
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Processing HR
Human resources information technology (HRIT) contributes greatly to the functionality and accuracy of human resources activities. Many organizations purchase sophisticated human resources information systems (HRIS) that minimize, or even eliminate, human error in processing employment data. Smaller organizations sometimes rely on outsourcing their HRIS needs for managing processes such as recruitment, payroll and compensation. Technology supports an important principle of human resources planning -- human resources data processing in the most efficient and accurate way possible.
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HISTORY
Origin of "ERP" In 1990 Gartner Group first employed the acronym ERP as an extension of material requirements planning (MRP), later manufacturing resource planning and computer-integrated manufacturing. Without supplanting these terms, ERP came to represent a larger whole, reflecting the evolution of application integration beyond manufacturing. Not all ERP packages were developed from a manufacturing core. Vendors variously began with accounting, maintenance and human resources. By the mid1990s ERP systems addressed all core functions of an enterprise. Beyond corporations, governments and nonprofit organizations also began to employ ERP systems.
EXPANSION
ERP systems experienced rapid growth in the 1990s because the year 2000 problem and introduction of the Euro disrupted legacy systems. Many companies took this opportunity to replace such systems with ERP. This rapid growth in sales was followed by a slump in 1999 after these issues had been addressed. ERP systems initially focused on automating back office functions that did not directly affect customers and the general public. Front office functions such as customer relationship management (CRM) dealt directly with customers, or e business systems such as ecommerce, egovernment, etelecom, and efinance, or supplier relationship management (SRM) became integrated later, when the Internet simplified communicating with external parties.
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An integrated system that operates in real time(or next to real time), without relying on periodic updates. A common database, which supports all applications. A consistent look and feel throughout each module. Installation of the system without elaborate application/data integration by the Information Technology (IT) department.
ERP systems connect to realtime data and transaction data in a variety of ways. These systems are typically configured by systems integrators, who bring unique knowledge on process, equipment, and vendor solutions.
Direct integration:
ERP systems connectivity (communications to plant floor equipment) as part of their product offering. This requires the vendors to offer specific support for the plant floor equipment that their customers operate. ERP vendors must be expert
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Database integration:
ERP systems connect to plant floor data sources through staging tables in a database. Plant floor systems deposit the necessary information into the database. The ERP system reads the information in the table. The benefit of staging is that ERP vendors do not need to master the complexities of equipment integration. Connectivity becomes the responsibility of the systems integrator.
Customintegration solutions:
Many system integrators offer custom solutions. These systems tend to have the highest level of initial integration cost, and can have a higher long term maintenance and reliability costs. Long term costs can be minimized through careful system testing and thorough documentation. Customintegrated solutions typically run on workstation or server class computers.
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Process preparation:
Implementing ERP typically requires changing existing business processes. Poor understanding of needed process changes prior to starting implementation is a main reason for project failure. It is therefore crucial that organizations thoroughly analyze business processes before implementation. This analysis can identify opportunities for process modernization. It also enables an assessment of the alignment of current processes with those provided by the ERP system. Research indicates that the risk of business process mismatch is decreased by:
linking current processes to the organization's strategy; analyzing the effectiveness of each process; understanding existing automated solutions.
ERP implementation is considerably more difficult (and politically charged) in decentralized organizations, because they often have different processes, business rules, data semantics, authorization hierarchies and decision centers. This may require migrating some business units before others, delaying implementation to work through the necessary changes for each unit, possibly reducing integration (e.g. linking via Master data management) or customizing the system to meet specific needs.
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Configuration Configuring an ERP system is largely a matter of balancing the way the customer wants the system to work with the way it was designed to work. ERP systems typically build many changeable parameters that modify system operation. For example, an organization can select the type of inventory accountingFIFO or LIFOto employ, whether to recognize revenue by geographical unit, product line, or distribution channel and whether to pay for shipping costs when a customer returns a purchase
Customization
When the system doesn't offer a particular feature, the customer can rewrite part of the code, or interface to an existing system. Both options add time and cost to the implementation process and can dilute system benefits. Customization inhibits seamless communication between suppliers and customers who use the same ERP system un-customized. Key differences between customization and configuration include:
Customization is always optional, whereas the software must always be configured before use (e.g., setting up cost/profit center structures, organisational trees, purchase approval rules, etc.) The software was designed to handle various configurations, and behaves predictably in any allowed configuration. The effect of configuration changes on system behavior and performance is predictable and is the responsibility of the ERP vendor. The effect of
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Configuration changes survive upgrades to new software versions. Some customizations (e.g. code that uses predefined "hooks" that are called before/after displaying data screens) survive upgrades, though they require retesting. Other customizations (e.g. those involving changes to fundamental data structures) are overwritten during upgrades and must be re-implemented.
Customization can be expensive and complicated, and can delay implementation. Nevertheless, customization offers the potential to obtain competitive advantage vis--vis companies using only standard features.
Data migration
Data migration is the process of moving/copying and restructuring data from an existing system to the ERP system. Migration is critical to implementation success and requires significant planning. Unfortunately, since migration is one of the final activities before the production phase, it often receives insufficient attention. The following steps can structure migration planning:
Identify the data to be migrated Determine migration timing Generate the data templates Freeze the toolset Decide on migration-related setups Define data archiving policies and procedures.
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the vendor Sales forecasting, which allows inventory optimization Order tracking, from acceptance through fulfillment Revenue tracking, from invoice through cash receipt Matching purchase orders (what was ordered), inventory receipts (what arrived), and costing (what the vendor invoiced)
They eliminate the need to synchronize changes between multiple systems consolidation of finance, marketing and sales, human resource, and manufacturing applications They enable standard product naming/coding. They provide a comprehensive enterprise view (no "islands of information"). They make realtime information available to management anywhere, any time to make proper decisions.
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They protect sensitive data by consolidating multiple security systems into a single structure
DISADVANTAGES
Customization is problematic. Reengineering business processes to fit the ERP system may damage competitiveness and/or divert focus from other critical activities ERP can cost more than less integrated and/or less comprehensive solutions. High switching costs increase vendor negotiating power support, maintenance and upgrade expenses. Overcoming resistance to sharing sensitive information between
Integration of truly independent businesses can create unnecessary dependencies. Extensive training requirements take resources from daily operations.
INTEGRATED PLANNING
1. INTRODUCTION
LINE
MANAGEMENT
AND
HR
Todays business challenges demand a focused human resources agenda. To close the gap between the "strategic-HR haves" and "have-nots," practitioners need a thoughtful, but practical approach to HR planning to connect people priorities to business priorities, clarify line ownership for HR outcomes, and reach a contract for the responsibility HR people will have across all divisions in
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MANPOWER PLANNING
Manpower Planning which is also called as Human Resource Planning consists of putting right number of people, right kind of people at the right place, right time, doing the right things for which they are suited for the achievement of goals of the organization. Human Resource Planning has got an important place in the arena of industrialization. Human Resource Planning has to be a systems approach and is carried out in a set procedure. The procedure is as follows: 1. Analysing the current manpower inventory 2. Making future manpower forecasts 3. Developing employment programmes
4. Design training programmes
Type of organization Number of departments Number and quantity of such departments Employees in these work units
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Expert Forecasts:
This includes informal decisions, formal expert surveys and Delphi technique.
ii.
Trend Analysis:
Manpower needs can be projected through extrapolation (projecting past trends), indexation (using base year as basis), and statistical analysis (central tendency measure).
iii.
iv.
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Other methods:
Several Mathematical models, with the aid of computers are used to forecast manpower needs, like budget and planning analysis, regression, new venture analysis.
3.
Once the current inventory is compared with future forecasts, the employment programme can be framed and developed accordingly, which will include recruitment, selection procedures and placement plans.
4.
development programmes etc. Training programmes depend upon the extent of improvement in technology and advancement to take place. It is also done to improve upon the skills, capabilities, knowledge of the workers.
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2. Efficient utilizationEfficient management of personnels becomes an important function in the industrialization world of today. Seting of large scale enterprises require management of large scale manpower. It can be effectively done through staffing function.
3.
MotivationStaffing function not only includes putting right men on right job, but it also comprises of motivational programmes, i.e., incentive plans to be framed for further participation and employment of employees in a concern. Therefore, all types of incentive plans becomes an integral part of staffing function.
4.
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Higher productivity:
Productivity level increases when resources are utilized in best possible manner. higher productivity is a result of minimum wastage of time, money, efforts and energies.This is possible through the staffing and it's related activities ( Performance appraisal, training and development, remuneration)
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The project sponsor. The customer who receives the deliverables. The users of the project outputs. The project manager and project team.
Once you understand who the stakeholders are, the next step is to find out their needs. The best way to do this is by conducting stakeholder interviews. Take time
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The amount of effort (hours or days) required to complete the task. The resource who will carryout the task.
Once you have established the amount of effort for each task, you can workout the effort required for each deliverable, and an accurate delivery date. Update your deliverables section with the more accurate delivery dates. At this point in the planning, you could choose to use a software package such as Microsoft Project to create your project schedule. Alternatively, use one of the many free templates available. Input all of the deliverables, tasks, durations and the resources who will complete each task. A common problem discovered at this point, is when a project has an imposed delivery deadline from the sponsor that is not realistic based on your estimates. If you discover that this is the case, you must contact the sponsor immediately. The options you have in this situation are:
Renegotiate the deadline (project delay). Employ additional resources (increased cost). Reduce the scope of the project (less delivered).
COMMUNICATIONS PLAN
Create a document showing who needs to be kept informed about the project and how they will receive the information. The most common mechanism is a weekly or monthly progress report, describing how the project is performing, milestones achieved and work planned for the next period.
Time and cost estimates too optimistic. Customer review and feedback cycle too slow. Unexpected budget cuts. Unclear roles and responsibilities.
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Stakeholder input is not sought, or their needs are not properly understood. Stakeholders changing requirements after the project has started. Stakeholders adding new requirements after the project has started. Poor communication resulting in misunderstandings, quality problems and rework. Lack of resource commitment.
Risks can be tracked using a simple risk log. Add each risk you have identified to your risk log; write down what you will do in the event it occurs, and what you will do to prevent it from occurring. Review your risk log on a regular basis, adding new risks as they occur during the life of the project. Remember, when risks are ignored they don't go away.
Job Cost-effective recruiting resources Background and reference checks Clear and understandable Descriptions
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Training and Development resources to enable your entire team to perform at their best with a spirit of mutual respect and support Job Performance Evaluations with useful feedback for your managers Career Path programs that will promote team motivation and loyalty Fair and responsible Conflict Resolution that will protect your organization legally Disciplinary and Termination procedures Exit Interviews to provide insights that will lower expensive attrition rates Wage and Hour compliance
their strongest, most positive efforts and to help them exceed even their own expectations
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and staff, enabling your entire team to understand and support your Mission and long-term goals.
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employees
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