Monday, 25 March 2024

2. Globalization in Human Resource Management: Leading Across Cultures

 GLOBALIZATION

Figure 1

Globalism has impacted every single organization regardless of company size across the world. However, the biggest challenge has been for some organizations that have done extremely well domestically to actually branch out and embrace a whole new pool of consumers that are out there on a global basis, and that requires acting and thinking differently. It is also requiring leading differently. 

Rather than thinking in terms of national markets and national economies, leaders of business thought in term of global markets. There are causes of rapid expansion of trade. Rising real living standards across many countries. Which means it is easy to export and to deal with those countries. Trade liberalization, where there has been a push on the part of governments and international organizations to try and liberalize rate makes it easy to trade across boundaries to reduce tariff barriers and obstacles. 

Figure 2

Privatization and liberalization of the domestic market, deregulation of international capital markets, fall in transport costs and, improvement in global communications. Globalization is a business philosophy based on the belief that the world is becoming more similar. It increases contact, awareness, and interdependence in economic activity and social relations. 

Globalization in companies across the globe concerns, trade in goods and services, investment, labor force movement, products, production, technology, research and development, exchange of ideas and knowledge, and intellectual property

Figure 3

For example, ZIM integrated shipping company is one of the largest companies that provides cargo services across the world. Their Z Factor digital platform concept focuses on six specializations. Which are Digitize, Globalize, Freeze, Optimize, Personalize and Socialize.
Through Globalize, organization’s global team works as one to present customers the finest and most well-matched customer services with Global Network of Trades and Lines.  ZIM is a long-term supporter of the United Nations Sustainable Development Goals. Through this ZIM company ensures to make a constructive impact, represented and evaluated to achieve business targets productively.

Generally to globalize their business very effectively, most of the companies across the globe  actively involved in
  • Encouraging professional and technical training for young people from underprivileged circumstances around the world.
  • Capitalizing in the structure and fixing of educational organizations.
  • Granting scholarships for mechanical, vocational and qualified theoretical training throughout its societies.
  • Some sectors also providing contributions to organizations that encourage gender equality.
  • Providing a program that supports mothers to participate and develop in the world of work.
To encourage decent work and economic growth, organizations also
  • Providing employee benefits worldwide.
  • Providing employee training and teaching with current programs.
  • Organizing yearly seminars, professional guidance, and enhancement courses.
  • Development of facilities, lines and trades network and global influence. 
  • Executing advanced technological resolutions and tools in actions, customer service, and commercial conduct as well.
HUMAN RESOURCE MANAGEMENT (HRM)
 

HUMAN RESOURCE MANAGEMENT aka HRM  is all about people who worked inside the company,and we call them “employees”.  
Figure 4
The Human Resource function is essential for a good overall performance and growth. The department of HR should ensure that the working environment is safe and suitable for all the employees in their respective organization. HRM must ensure that organization goals are achieved through human resources. Human Resources Management responsibilities are recurring, hiring, maintaining, development, and the use of employees effectively

Developing motivation through, 
  • Suitable rewards, 
  • Providing development and training opportunities for employees. 
  • Maintaining morale in the workplace, and implementing and monitoring adherence to government legislation. 
Human resource is responsible for managing a workforce as a primary resource that contributes to the success of the organization. It is described as much broader in scope than personnel management. The primary goal of human resource is to enable employees to work to a maximum level of efficiency. Human Resource Management in a company manages the whole workforce, develops, and trains employees to enhance efficiency and meet organizational goals, continuous improvement plan, integral part of organizations across the globe, and also HRM motivation is dependent on work groups, career opportunities, job satisfaction, and job creativity

Human resource management in any company is responsible for, 
  • Acquisition. 
  • Development, and training of staff.
  • The application of rewards to facilitate motivation.
  • Recruitment and exit from the organization. 
HRM job analyses in an organizations are,
  • Establishing a job requirements like tasks, responsibilities, skills, experience, and qualifications. 
  • Development of job descriptions.
  • Person specification like personal characteristics suitable for the job description and job attraction and job satisfactions
For example, in ZIM integrated shipping company, Internal HR audit methods are in place to consistently check recruitment procedures and employment.

Tuesday, 19 March 2024

1. Performance Metrics That Matter: Aligning Goals with Organizational Objectives

In today's fast-paced business environment, organizations are relentlessly obtaining ways to increase performance and achieve strategic objectives. One powerful tool in this effort is Performance Management, which involves setting clear goals, determining progress, and preparing feedback to employees.

Marketing planning is to try to create long-term competitive advantage to ensure that the business goes though time frame in a way that out-compete their competitors. Marketing planning is the identification and allocation of the resources to accomplish marketing goals and objectives that set for organization. Therefore, having set the primary concerns or objectives what the organization targeting at, then it’s necessary to identify the required resources and try and allocate those resources to achieving the objectives.

Figure 1

Many people often confuse marketing with advertising and while it is true that marketing and advertising have similarities. In other words, advertising is like a subcategory of marketing. Organizations across the globe highly believe that nowadays users are tired of this type of messaging, and it is very important to focus more on understanding the users, their needs or motivations and communicate to them about how the company’s services can solve their problems and always emphasize the value they bring. In terms of marketing, organization have to define their marketing plan because, without a marketing plan, they will not be able to achieve the goals that set for the company or brand.

Marketing Goals act as strategies or aims of marketing activities. Marketing Goals are broader and address what the company wants to achieve, and it help to effectively plan, structure, and execute its marketing campaigns. In an organization, goals and objectives are the pillars that guide all of their actions and strategies. As an organization, if they don’t set any objectives, they don’t know what direction they should go in, or how to do it. But sometimes an organization needs a little inspiration to come up with its own goals. 

Marketing goals are long-term, expensive, and are often inspired by the mission and purposes of a company. Marketing objectives are the actions an organization and the organization’s marketing team take to fulfill their marketing goals and marketing objectives are more specific in scope and should be measurable, either using digits or time frames, or sometimes both.

Figure 2
Regardless of whether it is professional or personal as a human being, we all fight sometimes to achieve our goals/targets. Many times, our struggle is not because of a lack of effort but rather how our targets have been structured. Therefore, Marketing objectives need to be SMART. Which means they should be "Specific, Measurable, Achievable, Relevant and Time-bound". 

The very first acronym of SMART is SPECIFIC. This is considered the most important part of creating or evaluating the goal. The less specific a goal the more tough is to control how long the goal should take to complete or how to measure success. 

For example, many organizations nowadays protect labor rights and encourage safe and secure working environments for all employees, including migrant workers, in particular women migrants, and those in precarious employment. This is a very specific goal to achieve a decent work environment.

MEASURABLE means in the SMART framework is how the organization measures the goal and what determines the success. In an organization some goals may be best measured by yes or no, such as during the COVID pandemic it’s compulsory to change the work to remote mode due to travel being banned and to keep employees safe. However, some other goals are better measured by using metrics such as expanding education, awareness-raising, and human and official capacity on climate change moderation, variation, influence reduction, and early warning. The key to measurements is to ensure that the goal precisely reflects success. 

ACHIEVABLE means well-designed goals deliver clarity of action. If the actions required to accomplish a goal are undecided or there are a large number of actions that need to be taken, the organization should consider breaking down the major goal into manageable, actionable sub-goals. Nowadays, companies globally decided to significantly reduce corruption and bribery in all their forms. To achieve the target goal they've taken actions which are lead business in a principled and honest manner by their company's code of Ethics and Vision and Values by conducting antitrust, anti-bribery, and corruption seminars for employees regularly and communicating with suppliers on moral subjects. 

RELEVANT, Single goals are relevant but in the organization, we often try to pursue multiple goals. However, too many goals at the same time may lead to problems if an organization is not structured properly. Therefore, pursuing many goals needs a well-structured mechanism to monitor the target goal to ensure that an organization pursues the most relevant goals at any given time. 

TIME-BOUND, The last thing an organization wants to ensure is that goals are time-bound. By structuring a proper time frame for which goals should be achieved, helps provide incentives and allows the organization to monitor progress. For Example, globally organizations' response in adapting to the new professional environment due to COVID-19 has promoted a grouping of their pre-existing strategies, such as cyber management and the ongoing digital revolution of the organizations. 

Therefore, it’s important that the organization has a very clear vision of their goals, it should set out realistic objectives, and then allocate resources to achieve those objectives. Objectives them self should identify that the environment in which the organization is operating is changing. However, to truly lead to accomplishment, it is crucial to align individualistic performance metrics with comprehensive organizational goals and strategies. Aligning individual performance metrics with organizational objectives is like steering a vessel toward a conventional destination. Without clear alignment, each department or team may be rowing in different directions, leading to inefficiency and missed opportunities.


10. Decoding Success: Marketing's Strategic Impact on Corporate Objectives

CORPORATE STRATEGY  Figure 1 Corporate strategy is about participating in multiple business units and is defined as diversification across ...