Human resources are considered by many to be the most important asset of an organization, yet very few employers are able to harness the full potential from their employees (Radcliffe, 2005). Human resource is a productive resource consisting of the talents and skills of human beings that contribute to the production of goods and services (Kelly, 2001). Lado and Wilson (1994) define human resource system as a set of distinct but interrelated activities, functions, and processes that are directed at attracting, developing, and maintaining a firm’s human resources. According to Gomez-Mejia, Luis R., David B. Balkin and Robert L. Cardy, (2008), it is the process of ensuring that the organization has the right kind of people in the right places at the right time. The objective of Human Resources is to maximize the return on investment from the organization’s human capital and minimize financial risk. It is the responsibility of human resource managers to conduct these activities in an effective, legal, fair, and consistent manner (Huselid, 1995).
Employee Training and Development
Training and development is a subsystem of an organization that emanate from two independent yet interdependent words training and development. Training is often interpreted as the activity when an expert and learner work together to effectively transfer information from the expert to the learner (to enhance a learner’s knowledge, attitudes or skills) so the learner can better perform a current task or job. Training activity is both focused upon, and evaluated against, the job that an individual currently holds (Learner R., 1986).… Read the rest
A literature review is the summary and critical evaluation of previous published or unpublished researches made by various scholars and researchers. The source of literature review may be newspapers, articles, journals, magazines, books, thesis, reports, websites, wikis etc. It may also include discussions, methodological issues and suggestions for future research.
The literature review must be written clearly and accurately. Simple and easily understandable wording should be used in a review and unnecessary statements, jargons should be avoided. It must be written in such a way that it keeps reader’s attention and don’t make him bore. Don’t make it too complex. Simplify discussion.
A good literature review gives only the relevant details, findings and feelings of the researcher comprehensively otherwise the reader lose the interest & attention. Here comprehensiveness does not mean that you should mention every research report, article or paper that has ever been published on your subject. Concentrate on the most widely cited authors and the most significant findings. No Wastage of efforts.
A review of literature tells the researchers’ knowledge about the topic, there focus upon the specific problem whether they are logically developed and plan about the research area & major issues. When a researcher studies various research articles and thesis, he should write them in literature review as it is either he is agreed with it or not.
The literature review provides the bases for the development of theoretical fame work by identifying variables that are very important, as determined by the previous research findings. Though it is based on assumptions but the researchers must use them near to the fact.… Read the rest
Review of Literature on Credit Derivatives
Giesecke, K. (2009) says that a credit derivative is a financial instrument whose cash flows are linked to the financial losses due to default in a pool of reference credit securities such as loans, mortgages, bonds issued by corporations or governments, or even other credit derivatives. Credit derivatives facilitate the trading of credit risk, and therefore the allocation of risk among market participants. They resemble bilateral insurance contracts, with one party buying protection against default losses, and the other party selling that protection. He discusses the mechanics of standard contracts, describes their applications, and highlights the mathematical challenges associated with their analysis.
Dufey & Rehm(2000) say that credit derivatives are contracts between two financial market participants.The essence of this contract is to transfer credit risk from one party to another.Like all financial innovation, a credit derivative is a new financial product which is developed by unbundling various components from a traditional financial contract & “repackaging” them into a new contract. Features of this contract are underlying,strike price,credit event, maturity, protection payment&settlement. Credit derivatives are mainly used for management of credit lines.Credit derivatives enable banks to originate loans according to their client relationships, they remove credit risk from balance sheets while retaining ownership over the loans.
Ashraf, Altunbus & Goddard (2005) say that credit derivatives have been as revolutionary financial innovation allowing credit risk to be transferred to third party without the ownership of underlying asset. Credit derivatives take a number of forms, they can be pure such as credit default swaps or synthetic such as credit linked notes.… Read the rest
Organizational learning is the ‘activity and the process by which organizations eventually reach the ideal of a learning organization’ (Senge, 1990). Organizational learning is just a means in order to achieve strategic objectives. But creating a learning organization is also a goal, since the ability permanently and collectively to learn is a necessary precondition for thriving in the new context. Therefore, the capacity of an organization to learn, that is, to function like a learning organization, needs to be made more concrete and institutionalized, so that the management of such learning can be made more effective (Dunphy, 1998).
Learning organizations are organizations where people continually expand their capacity to create the results they truly desire, where new and expansive patterns of thinking are nurtured, where collective aspiration is set free, and where people are continually learning to see the whole together. (Senge 1990: 3)
The Learning Company is a vision of what might be possible. It is not brought about simply by training individuals; it can only happen as a result of learning at the whole organization level. Learning Company is an organization that facilitates the learning of all its members and continuously transforms itself. (De Geus, 1996)
An important objective of the organizational learning process is to promote trust, dialogue and networking among staff that can foster the formation of social capital and thereby contribute to more dynamic communications, knowledge-sharing and management in the public service. Such communication processes can either be facilitated or hindered by the existing institutional structures in the public sector.… Read the rest