the management of people/staff in order for them to make contributions to the objectives of the organisation. “HRM is the body of management activities and used in this way HRM is really no more than a more modern and supposedly imposing name for what has long been labelled personnel management” (Torrington et al‚ 2009). The best way to describe HRM is to look at what it aims to achieve i.e. its four key objectives: 1) Staffing – includes recruiting staff‚ up-skilling of staff and training and
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No. 1 - Four essential steps in the management by objectives (MBO) process Management by objectives (MBO) is a system whereby managers and employees define goals for every department‚ project‚ and person and use them to monitor subsequent performance. Four major activities make MBO successful. MBO is result oriented. Emphasize the accomplishment rather than input. Encourage the participation at all level of organization that means collaborative‚ shared power and self management. A process consisting
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1) FIRM OBJECTIVES: The standard economic assumption underlying the analysis of firms is profit maximization. Real world firms‚ however‚ might not‚ and many times do not‚ make decisions based on the profit-maximization objective‚ or at least exclusively on the profit-maximization objective. Other objectives include: (1) sales maximization‚ (2) pursuit of personal welfare‚ and (3) pursuit of social welfare. Although firms are assumed to make decisions that increase profit in standard economic
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Nokia has been one of the brands that are in the last 20 years been synonymous with high-quality phones. Till 2007‚ Nokia had a market share of 80% in the smartphone market‚ and the most important reason for losing ground during the digital age‚ actually smartphone age was due to the weak position of Nokia in the technological system or ecosystem. “Nokia failed in connection to people!!” One of the reasons for Nokia failure is on one side that Apple redefined smartphones with touch screen and
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Introduction Sun Zi Art of War is one of the oldest and most successful books on military strategy. It had an influence on Eastern military thinking‚ business tactics and beyond. In this assignment‚ we will apply Sun Zi Art of War Theories into companies chosen‚ Nokia Firstly‚ our assignment is based on Chapter Four (Disposition of the Army) of Sun Zi’s Art of War. One of the key points of Chapter Four is about a skillful general will ensure undefeatedness when waiting the opportunity to offend or
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Goal From Wikipedia‚ the free encyclopedia Jump to: navigation‚ search For other uses‚ see Goal (disambiguation). A poster at the United Nations Headquarters in New York City‚ New York‚ USA‚ showing the Millennium Development Goals A goal is a desired result a person or a system envisions‚ plans and commits to achieve a personal or organizational desired end-point in some sort of assumed development. Many people endeavor to reach goals within a finite time by setting deadlines. It is roughly
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Introduction Nokia is a firm company in mobile phone industry with long history. As a leader in mobile phone industry‚ Nokia have to face with changing of business world all the time (Nokia1‚ 2012). However‚ in globalized circumstances‚ Nokia is challenged by new technology‚ short life cycle product‚ and new competitors‚ who would like to replace leader position as Nokia used to be. Ali-Yrkkö et al. (2011) mentioned that Nokia is using supply chain management to co-operate
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reports that with the launch of a new range of smartphones‚ Nokia is also effectively changing its approach to marketing. The company is moving away from more traditional marketing like advertising in print media and shifting towards advertisements through social media and digital campaigns. This allows Nokia to place a greater emphasis on collaborating with its customers through its marketing communication channels. In doing so‚ Nokia hopes to be able to rival dominant market competitors by increasing
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especially in this market. Nokia has created an established brand name for them internationally and this makes it hard for new entrants to compete. 5. Big firms may retaliate and try to prevent companies from entering the market by giving out special deals or lowering price to the point where it is not viable for new entrants to compete. 6. Patents also limit innovation and this will potentially deter new entrants. 7. Due to the size of the big firms such as Nokia‚ they will have an advantage
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SMART OBJECTIVES Goal setting is something most of us recognize as necessary for our success. The establishment of all objectives should be created using the S.M.A.R.T. philosophy. What is meant by S.M.A.R.T. objective? S.M.A.R.T. is an acronym that is used to guide the development of measurable goals. Each objective should be: Specific‚ Measurable‚ Achievable‚ Realistic and Timely SPECIFIC It answers the questions "What is to be done?" "How will you know it is done?" and describes
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