This document discusses the challenges facing HRM in a changing environment. It identifies three levels of challenges: environmental, organizational, and individual. Environmental challenges include rapid change, workforce diversity, globalization, legislation, technology, evolving work/family roles, and skill shortages. Organizational challenges involve issues like competitive positioning, decentralization, downsizing, and restructuring. Individual challenges relate to matching people to organizations, ethics, productivity, empowerment, brain drain, and job insecurity. Effective HRM strategies are needed to help organizations adapt and respond to these challenges.
Strategic Human Resource Management (SHRM) - MBA 423 Human Resources Manageme...Stuart Gow
Chapter Review/ Discussion Questions (CRQs) – 10% marks
At the end of each chapter of the text book, there are chapter review questions (CRQs) which are meant to review and test the student’s understanding of the chapter. The facilitator will chose and then allocate the CRQs to each group during week 2 for class presentations in weeks 3 to 7. Some of these questions are being recommended by Stone as possible essay questions which are frequently asked in examinations throughout the world. The time for each presentation may vary from 10 to 20 minutes followed by class discussions. The group’s power-point presentations, both soft and hard copies, must be submitted to the course facilitator on or before the presentation. No written report is required for CRQs. The class and the facilitator will evaluate each group’s presentation. A blank evaluation form will be made available in class and posted in Moodle. However, the MBA 423 Human Resource Management GSB, FBE, USP facilitator has the final say in terms of the final marks to be allocated to each group. The criterias to be used as a guide for evaluating the CRQ presentations is provided in the blank evaluation form.
MBA 423 Human Resources Management (Elective Course)
The effective management of people has an important bearing on organisational success. The importance of personnel policies and procedures has created opportunity for managers and administrators with expertise in this field. The course provides conceptual and practical skills in areas such as the strategic aspects of human resource management, manpower planning, recruitment and selection, performance appraisal, training and development, salary administration and employee benefits. Industrial relations in the context of the South Pacific region is an important theme.
http://www.usp.ac.fj/index.php?id=mba423
Students:
Stuart Gow
Amrish Narayan
Chaminda Wanninayake
Graduate School of Business
Faculty of Business and Economics
University of the South Pacific,
Private Bag, Laucala Campus,
Suva, Fiji.
Tel: (679) 323 1391/323 1392
Fax: (679) 323 1397
This ppt will help you to understand about various HR challenges in current business environment & give you a brief insight to increase your conceptual idea in HR field.
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
Strategic Human Resource Management (SHRM) - MBA 423 Human Resources Manageme...Stuart Gow
Chapter Review/ Discussion Questions (CRQs) – 10% marks
At the end of each chapter of the text book, there are chapter review questions (CRQs) which are meant to review and test the student’s understanding of the chapter. The facilitator will chose and then allocate the CRQs to each group during week 2 for class presentations in weeks 3 to 7. Some of these questions are being recommended by Stone as possible essay questions which are frequently asked in examinations throughout the world. The time for each presentation may vary from 10 to 20 minutes followed by class discussions. The group’s power-point presentations, both soft and hard copies, must be submitted to the course facilitator on or before the presentation. No written report is required for CRQs. The class and the facilitator will evaluate each group’s presentation. A blank evaluation form will be made available in class and posted in Moodle. However, the MBA 423 Human Resource Management GSB, FBE, USP facilitator has the final say in terms of the final marks to be allocated to each group. The criterias to be used as a guide for evaluating the CRQ presentations is provided in the blank evaluation form.
MBA 423 Human Resources Management (Elective Course)
The effective management of people has an important bearing on organisational success. The importance of personnel policies and procedures has created opportunity for managers and administrators with expertise in this field. The course provides conceptual and practical skills in areas such as the strategic aspects of human resource management, manpower planning, recruitment and selection, performance appraisal, training and development, salary administration and employee benefits. Industrial relations in the context of the South Pacific region is an important theme.
http://www.usp.ac.fj/index.php?id=mba423
Students:
Stuart Gow
Amrish Narayan
Chaminda Wanninayake
Graduate School of Business
Faculty of Business and Economics
University of the South Pacific,
Private Bag, Laucala Campus,
Suva, Fiji.
Tel: (679) 323 1391/323 1392
Fax: (679) 323 1397
This ppt will help you to understand about various HR challenges in current business environment & give you a brief insight to increase your conceptual idea in HR field.
New Trends in Compensation Management (Group Mediclaim/Insurance Scheme, Personal Accident Insurance Scheme, Company Leased Accommodation,
Recreation/ATM facilities, Corporate Credit Card,
Club memberships, Cellular Phone/Laptop,
Personal Health Care, Loans, Educational Benefits, Regular Get together and other cultural programs, Wedding Day/Birthday Gift, Employee Referral Scheme, Maternity Leave, Paternity Leave, Work-life Balance, Pay Transparency, Broad banding,Variable Pay (Incentive Pay),
Flexible Benefits
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
this presentation covers the following portion of HR managent:
-Human Resource Planning Process
-Difference between recruitment and selection
-Objectives of HR management
In the 20th century HR is no more a departmental function. It is a core process determining the viability of your strategies. Strategies fail if they are not supported by the appropriate Human resource. Learn & Understand How.!
Compensation Dimensions (Payment for Work and Performance, Payment for Non-working Days, Loss of Job Income Continuation Benefit, Disability Income Continuation Benefit, Deferred Income, Spouse/Family Income Continuation Benefit, Health, Accident and Liability Protection, Income Equivalent Payments)
this presentation covers the following portion of HR managent:
-Human Resource Planning Process
-Difference between recruitment and selection
-Objectives of HR management
In the 20th century HR is no more a departmental function. It is a core process determining the viability of your strategies. Strategies fail if they are not supported by the appropriate Human resource. Learn & Understand How.!
Strategic human resource management in a changing environmentManoah Baal
Strategic human resource management in a changing environment Chapter 02. A class discussion in Human resource management The process of hiring and developing employees so that they become more valuable to the organization
STRATEGIC INITIATIVES Aligning Business & HR Objectives With a.docxflorriezhamphrey3065
STRATEGIC INITIATIVES
Aligning Business & HR Objectives
With all the talk about aligning business and HR initiatives, it’s easy to become confused about exactly what this means. This is why HRfocus found a panel discussion on this topic at the recent Conference Board Human Resources Conference in New York City especially valuable. We present much of what we learned here in the hopes that others’ experience will help you define and apply the concepts to your own situation.
The conference also featured a keynote address by Prudential CEO Arthur Ryan, who discussed several initiatives at his orga- nization in which HR’s contribution has been particularly impor- tant (see the sidebar, “Strategic Alignment: A CEO’s View”).
MAKING THE LINK
The panel agreed that it’s crucial to link current business imper- atives with human resources. And today’s key business impera- tives are:
Increasing productivity. Operating globally. Maintaining competitive labor costs. Cutting costs for other operations. Generating revenue growth through innovation. Managing effective and rapid change. Maintaining ethics and a good corporate reputation.
THE TALENT STRATEGY
This includes: Adjusting the staffing level. To respond to current condi-
tions, you need flexibility and an organized talent plan, said Sharon Taylor, senior vice president, corporate human resources, and chair of the Prudential Foundation, Prudential. “Who you have, what they do, how they do it—you need to know this to be able to redeploy.”
Adjusting to changing demographics. This is especially continued on page 13
disconnected from technology and, in some cases, HR was disconnected from the business strategy. Today, the focus is shifting to more manager- and strategy-oriented applications to provide the highest ROI and im- pact.
Develop an action plan to ex- pand the deployment of manager productivity applications. Then look
to performance-measurement tech- nologies as an extension of HR trans- formation.
Recognize the importance of change management in generating a successful initiative. Establish and execute a plan at all levels.
FOR MORE INFORMATION
The accompanying tables provide
information on software development and delivery vendor providers from North American respondents (see Table 1), investment to date world- wide for workforce technologies by size (see Table 2), investment so far in responding organizations by size (see Table 3), and budget for the next 21 months for workforce tech- nologies (see Table 4).
TECHNOLOGY (cont’d)
STRATEGIC INITIATIVES (cont’d from page 1)
important with regard to “offshor- ing” jobs. The question is quite com- plex, including how to explain the need for it to your stakeholders and customers and dealing with a poten- tial public relations backlash from those who find offshoring unpatriotic.
Some operations at Corning, Inc., have been sent abroad, said Kurt Fischer, vice president, human re- sources, and diversity officer. Send- ing manufacturin.
Linking Professional Business Education with Job Performance and career progr...Dr. Syed Kashan Ali Shah
A published research paper on Linking Professional Business Education with Job Performance and career progression: A stakeholder satisfaction perspective
The case study discusses the potential of drone delivery and the challenges that need to be addressed before it becomes widespread.
Key takeaways:
Drone delivery is in its early stages: Amazon's trial in the UK demonstrates the potential for faster deliveries, but it's still limited by regulations and technology.
Regulations are a major hurdle: Safety concerns around drone collisions with airplanes and people have led to restrictions on flight height and location.
Other challenges exist: Who will use drone delivery the most? Is it cost-effective compared to traditional delivery trucks?
Discussion questions:
Managerial challenges: Integrating drones requires planning for new infrastructure, training staff, and navigating regulations. There are also marketing and recruitment considerations specific to this technology.
External forces vary by country: Regulations, consumer acceptance, and infrastructure all differ between countries.
Demographics matter: Younger generations might be more receptive to drone delivery, while older populations might have concerns.
Stakeholders for Amazon: Customers, regulators, aviation authorities, and competitors are all stakeholders. Regulators likely hold the greatest influence as they determine the feasibility of drone delivery.
Senior Project and Engineering Leader Jim Smith.pdfJim Smith
I am a Project and Engineering Leader with extensive experience as a Business Operations Leader, Technical Project Manager, Engineering Manager and Operations Experience for Domestic and International companies such as Electrolux, Carrier, and Deutz. I have developed new products using Stage Gate development/MS Project/JIRA, for the pro-duction of Medical Equipment, Large Commercial Refrigeration Systems, Appliances, HVAC, and Diesel engines.
My experience includes:
Managed customized engineered refrigeration system projects with high voltage power panels from quote to ship, coordinating actions between electrical engineering, mechanical design and application engineering, purchasing, production, test, quality assurance and field installation. Managed projects $25k to $1M per project; 4-8 per month. (Hussmann refrigeration)
Successfully developed the $15-20M yearly corporate capital strategy for manufacturing, with the Executive Team and key stakeholders. Created project scope and specifications, business case, ROI, managed project plans with key personnel for nine consumer product manufacturing and distribution sites; to support the company’s strategic sales plan.
Over 15 years of experience managing and developing cost improvement projects with key Stakeholders, site Manufacturing Engineers, Mechanical Engineers, Maintenance, and facility support personnel to optimize pro-duction operations, safety, EHS, and new product development. (BioLab, Deutz, Caire)
Experience working as a Technical Manager developing new products with chemical engineers and packaging engineers to enhance and reduce the cost of retail products. I have led the activities of multiple engineering groups with diverse backgrounds.
Great experience managing the product development of products which utilize complex electrical controls, high voltage power panels, product testing, and commissioning.
Created project scope, business case, ROI for multiple capital projects to support electrotechnical assembly and CPG goods. Identified project cost, risk, success criteria, and performed equipment qualifications. (Carrier, Electrolux, Biolab, Price, Hussmann)
Created detailed projects plans using MS Project, Gant charts in excel, and updated new product development in Jira for stakeholders and project team members including critical path.
Great knowledge of ISO9001, NFPA, OSHA regulations.
User level knowledge of MRP/SAP, MS Project, Powerpoint, Visio, Mastercontrol, JIRA, Power BI and Tableau.
I appreciate your consideration, and look forward to discussing this role with you, and how I can lead your company’s growth and profitability. I can be contacted via LinkedIn via phone or E Mail.
Jim Smith
678-993-7195
jimsmith30024@gmail.com
The Team Member and Guest Experience - Lead and Take Care of your restaurant team. They are the people closest to and delivering Hospitality to your paying Guests!
Make the call, and we can assist you.
408-784-7371
Foodservice Consulting + Design
Artificial intelligence (AI) offers new opportunities to radically reinvent the way we do business. This study explores how CEOs and top decision makers around the world are responding to the transformative potential of AI.
Oprah Winfrey: A Leader in Media, Philanthropy, and Empowerment | CIO Women M...CIOWomenMagazine
This person is none other than Oprah Winfrey, a highly influential figure whose impact extends beyond television. This article will delve into the remarkable life and lasting legacy of Oprah. Her story serves as a reminder of the importance of perseverance, compassion, and firm determination.
2. 2Introduction to HRM - HIMS
HRM in a Changing Environment: The Challenges
Today’s organizations are facing challenges upon following levels:
1. Environmental Challenges
2. Organizational Challenges
3. Individual Challenges
3. 3Introduction to HRM - HIMS
Environmental Challenges
Environmental challenges refer to forces external to the firm that are largely
beyond management’s control but influence organizational performance.
Six important environmental challenges today are:
1. Rapid change,
2. Work force diversity,
3. Globalization,
4. Legislation,
5. Technology
6. Evolving work and family roles,
7. Skill shortages and the rise of the service sector
4. 4Introduction to HRM - HIMS
Rapid Change
Many organizations face a unstable environment in which change is nearly
constant.
If they are to survive and prosper, they need to adapt to change quickly and
effectively.
Human resources are almost always at the heart of an effective response
system.
few examples of how HR strategies enable a firm grappling with external
change??
T&D
Succession planning
Strategic planning
5. Work Force Diversity
It is a significant challenge and a real opportunity for managers.
Firms that formulate and implement HR strategies that capitalize on
employee diversity are more likely to survive and prosper.
Difference of cultures/ opinions/ experiences/ values/ tastes
Opportunity vs threat
For e.g.
US firms high work force diversity
6. 6
Introduction to HRM - HIMS
Globalization
One of the most dramatic challenges facing as they enter the twenty-first century is how
to compete against foreign firms, both domestically and abroad.
Many companies are already being compelled to think globally, something that doesn't
come easily to firms long familiar to doing business in a large and expanding domestic
market with minimal foreign competition.
Human resources can play a critical role in a business's ability to compete head-to-head
with foreign producers. The implications of a global economy on human resource
management are many.
In today's global world HR is the only sustainable competitive advantage
7. 7Introduction to HRM - HIMS
Legislation
• Much of the growth in the HR function over the past three decades may be
attributed to its crucial role in keeping the company out of trouble with the law.
• Most firms are deeply concerned with potential liability resulting from personnel
decisions that may violate laws enacted by the state legislatures, and/or local
governments.
• These laws are constantly interpreted in thousands of cases brought before
government agencies, federal courts, state courts, and Supreme Court.
• How successfully a firm manages its human resources depends to a large extent on
its ability to deal effectively with government regulations.
8. • Operating within the legal framework requires keeping track of the
external legal environment and developing internal systems (for example,
supervisory training and grievance procedures) to ensure compliance and
minimize complaints.
Many firms are now developing formal policies on
• discrimination,
• workplace conflicts,
• child labor,
• safety,
• fair wage,
• sexual harassment and
• establishing internal administrative channels to deal with alleged
incidents before employees feel the need to file a lawsuit.
9. 9Introduction to HRM - HIMS
Technology
The world has never before seen such rapid technological changes as are
presently occurring in the computer and telecommunications industries.
One estimate is that technological change is occurring so rapidly that
individuals may have to change their entire skills three or four times in their
career.
The advances being made, affect every area of a business including human
resource management.
For e.g. use of advance equipment, data analysis, video conferencing,
databases, intranet, internet etc.
10. 10Introduction to HRM - HIMS
Evolving Work and Family Roles
The proportion of dual-career families, in which both wife and husband (or both
members of a couple) work, is increasing every year.
Study:
Unfortunately, women face the double burden of working at home and on the job,
devoting 42 hours per week on average to the office and an additional 30 hours at
home to children. This compares to 43 hours spent working in the office and only 12
hours at home for men.
More and more companies are introducing "family-friendly" programs that give
organizations a competitive advantage in the labor market.
These programs are HR tactics that companies use to hire and retain the best-qualified
employees, male or female, and they are very likely to payoff. These firms have started to
change their policies and are already seeing gains as a result. Different companies have
recently begun offering child-care and eldercare referral services as well to facilitate
women workers as well as are introducing alternative scheduling to allow employees some
flexibility in their work hours
11. 11Introduction to HRM - HIMS
Skill Shortages and the Rise of the Service Sector
Expansion of service-sector employment is linked to a number of factors,
including changes in consumer tastes and preferences, legal and regulatory
changes, advances in science and technology that have eliminated many
manufacturing jobs, and changes in the way businesses are organized and
managed.
Service, technical, and managerial positions that require college degrees will
make up half of all manufacturing and service jobs by 2000.
Unfortunately, most available workers will be too unskilled to fill those jobs.
Even now, many companies complain that the supply of skilled labor is
declining and that they must provide their employees with basic training to
make up for the shortcomings of the public education system. To rectify these
shortcomings, companies currently spend large amount year on a wide variety
of training programs.
12. 12Introduction to HRM - HIMS
2) Organizational Challenges
Organizational challenges refer to concerns that are internal to the firm.
However, they are often a byproduct of environmental forces because no firm
operates in a vacuum.
These issues include:
•competitive position (cost, quality, and distinctive capability),
•decentralization,
•downsizing,
•organizational restructuring,
•self-managed work teams,
•small businesses,
•organizational culture,
•technology, and outsourcing
13. Introduction to HRM - HIMS 13
Managers can usually exert much more control over organizational
challenges than over environmental challenges. Effective managers spot
organizational issues and deal with them before they become major
problems.
One of the themes of this text is proactively: the need for firms to take
action before problems get out of hand. Only managers who are well
informed about important HR issues and organizational challenges can
do this.
An organization will outperform its competitors if it effectively utilizes its
work force's unique combination of skills and abilities to exploit
environmental opportunities and neutralize threats.
14. 14Introduction to HRM - HIMS
HR policies can influence an organization's competitive
position by
1. Controlling costs,
2. Improving quality,
3. Creating distinctive capabilities
4. Restructuring
15. Introduction to HRM - HIMS 15
Controlling costs
One way for a firm to gain a competitive advantage is to maintain low costs
and a strong cash flow (sale volume).
A compensation system that uses innovative reward strategies to control
labor costs can help the organization grow.
A well-designed compensation system rewards employees for behaviors
that benefit the company.
Other factors besides compensation policies can enhance a firm's
competitiveness by keeping labor costs under control. These include:
better employee selection so that workers are more likely to stay with the
company and to perform better while they are there, training employees to
make them more efficient and productive; attaining harmonious labor
relations); effectively managing health and safety issues in the workplace
and structuring work to reduce the time and resources needed to design,
produce, and deliver products or services
16. 16Introduction to HRM - HIMS
Improving quality
The second way to gain a competitive advantage is to engage in continuous
quality improvement.
Many companies are implementing total quality management (TQM)
initiatives, which are programs designed to improve the quality of all the
processes that lead to a final product or service.
In a TQM program, every aspect of the organization is oriented toward
providing a quality product or service.
17. 17Introduction to HRM - HIMS
Creating Distinctive Capabilities
The third way to gain a competitive advantage is to utilize people with
distinctive capabilities to create unsurpassed competence in a particular
area (for example, 3M's competence in adhesives, Microsoft’s competency in
OS, Carlson Corporation's leading presence in the travel business, and
Xerox's dominance of the photocopier market).
18. Introduction to HRM - HIMS 18
Restructuring
A number of firms are changing the way the functions are
performed.
For example, some companies are restructuring HR for reasons
such as time pressures, financial considerations, and market
pressures.
using shared service centers, outsourcing, and line managers to assist in the
delivery of human resources to better accomplish organizational objectives.
Additionally, the size of some HR departments is getting smaller because certain
functions are now being accomplished by others.
This shift permits the HR managers to focus on more strategic and mission-
oriented activities.
19. Introduction to HRM - HIMS 19
The Human Resource Manager--An individual who normally acts in an advisory
or staff capacity, working with other managers to help them deal with human
resource matters. There is a shared responsibility between line managers and
human resource professionals.
Outsourcing Firms—The process of transferring responsibility for an area of
service and its objectives to an external provider. The main reason for this
movement was to reduce transaction time, but other benefits include cost
reductions and quality improvements. Companies found that administrative,
repetitive tasks are often performed in a more cost-effective manner by external
sources.
Line Managers—Line managers, by the nature of their jobs, are involved with
human resources. Line managers in certain firms are being used more to deliver
HR services. When implemented, this change reduces the size of the HR
department.
20. Introduction to HRM - HIMS 20
Decentralization:
In the traditional organizational structure, most major decisions are
made at the top and implemented at lower levels.
It is not uncommon for these organizations to centralize major
functions, such as human resources, marketing, and production, in a
single location (typically corporate headquarters) that serves as the
firm's command center.
Multiple layers of management are generally used to execute orders
issued at the top and to control the lower ranks from above.
Employees who are committed to the firm tend to move up the ranks
over time in what some have called the internal labor market.
21. However, the traditional top-down form of organization is quickly becoming
obsolete, both because it is costly to operate and because it is too inflexible
to compete effectively.
It is being replaced by decentralization, which transfers responsibility and
decision-making authority from a central office to people and locations
closer to the situation that demands attention.
HR strategies can play a crucial role in enhancing organizational flexibility by
improving decision-making processes within the firm.
22. Downsizing –
Periodic reductions in a company's work force to improve its bottom line-often
called downsizing-are becoming standard business practice, even among firms that
were once legendary for their "no layoff' policies, such as AT&T, IBM, Kodak, and
Xerox.
In addition to fostering a lack of emotional commitment, transient employment
relationships create a new set of challenges for firms and people competing in the
labor market, as well as for government agencies that must deal with the social
problems associated with employment insecurity (including loss of health insurance
and mental illness).
23. 3) Individual Challenges
Human resource issues at the individual level address concerns that are most
pertinent to decisions involving specific employees.
These issues almost always reflect what is happening in the larger organization.
How individuals are treated also is likely to have an effect on organizational issues.
For instance, if many key employees leave a firm to join its competitor, it will affect
the competitive position of the firm.
The individual issues include
•matching people and organization,
•ethics and social responsibility,
•productivity,
•empowerment,
•brain drain
•job insecurity
24. Productivity is a measure of how much value individual employees add to
the goods or services that the organization produces. The greater the
output per individual, the higher the organization's productivity.
Two important factors that affect individual productivity are ability and
motivation.
Employee ability, competence in performing a job, can be improved
through a hiring and placement process that selects the best individuals
for the job.
It can also be improved through training and career development
programs designed to sharpen employees' skills and prepare them for
additional responsibilities.
Motivation also have significant impact on productivity, motivation refers
to a person's desire to do the best possible job or to exert the maximum
effort to perform assigned tasks. Motivation energizes, directs, and
sustains human behavior.
25. Empowerment
In recent years many firms have reduced employee dependence on superiors and placed
more emphasis on individual control over (and responsibility for) the work that needs to
be done. This process has been labeled empowerment because it transfers direction
from an external source (normally the immediate supervisor) to an internal source (the
individual's own desire to do well).
In essence, the process of empowerment entails providing workers with the skills and
authority to make decisions that would traditionally be made by managers.
The goal of empowerment is an organization consisting of enthusiastic, committed
people who perform their work ably because they believe in it and enjoys doing it
(internal control).
This situation is in harsh contrast to an organization that gets people to work as an act of
compliance to avoid punishment (for example, being fired) or to qualify for a paycheck
(external control).
26. Brain Drain
With organizational success more and more dependent on knowledge held by specific
employees, companies are becoming more susceptible to brain drain-the loss of intellectual
property that results when competitors attract away key employees.
High-Tec firms are particularly vulnerable to this problem.
To combat the problem of defection to competitors, some firms are crafting elaborate ant
defection devices. For example, Compaq computer has introduced a policy that revokes
bonuses and other benefits to key executives if they take other employees with them when
they quit. Micron Technology staggers key employees' bonuses; they lose un-awarded
portions when they leave.
27. Ethics and Social Responsibility – Corporate social responsibility
refers to the extent to which companies should and do channel
resources toward improving one or more segments of society other
than the firm’s owners or stockholders.
•For example, McDonald's established Ronald McDonald houses several years ago
to provide temporary accommodation for families of sick children hospitalized
away from home. Sears and General Electric support artists and performers, and
many local merchants support local children's sports teams.
28. Job Insecurity – In this era of downsizing and restructuring, many
employees fear for their jobs. For most workers, being able to count on
a steady job and regular promotions is a thing of the past. Even the
most profitable companies have laid off workers. Companies argue that
regardless of how well the firm is doing, layoffs have become essential
in an age of cutthroat competition
job insecurity is a major source of stress and can lead to lower
performance and productivity