Ratio and Financial Statement Analysis Essay

This paper analyzes tools used in financial analysis such as ratios. Financial ratio analysis is a judicious way for different stakeholders to use for different goals. This paper demonstrates that financial ratio analysis is an important instrument to estimate resources and their used. It also demonstrates that despite the fact that financial ratio analysis is an excellent tool, it does have constraints. In fact, we will examine financial ratio by analyzing they limitations and they benefits. References used in this paper are from books and journal in a scholarly journal. Presentation of the data and the methodology used are objective; they are supported by cases. Is it possible to estimate or evaluate a company’s present and future performance? The answer is yes, but you need tools and learn how to use them. Financial ratio analysis is an excellent tool for companies to evaluate their financial health in order to identify feebleness so as to institute corrective measures. Financial ratios are first and foremost manager’s concern because they want to determine what divisions have performed well. It is as well stockholders’ concern because they want to know the value of their stock. Financial ratio is used by creditor to determine whether they will receive the money the loaned to the firm  (Parrino, Kindwell, & Bates, 2011). â€Å"Financial analysis is used to analyze whether an entity is stable, solvent, liquid, or profitable enough to be invested in† (Financial Analysis, Investopedia). The purpose of financial statement analysis is to help users in predicting the future. In other words, ratios are highly important profit tools that help to implement plans that improve profitability, liquidity, financial structure, reordering, leverage, and interest coverage. (Anonymous, 2000). Ratios are often able to help predict performance as well as provide indications of many potential problems. Despite the fact that financial ratio analysis can provide imminent problems of the company’s performance, some important limitation should be noted when using financial ratios. In fact, most financial ratios don’t tell the full story. This paper will analyze the benefits and limitations of ratio analysis, explaining what factors impact the meaningfulness of such measures. Financial ratio analysis is a useful tool for users of financial statement. According to parino et al (2011), ratio analysis simplifies the comprehension of financial statements. They inform the financial variation of the business. Thus, one of the advantages of using this tool is to acquire information about a business. For instance, the total debt ratio shows the use of debt in a firm’s capital structure. The higher the debt ratio, the more debt the company has. Another benefit of using ratio analysis is that they facilitate comparison between different businesses, and between firms which differ in size. As an illustration, let compare the Price-Earning ratio (P/E) of two companies with different business. Recall that P/E ratio is the ratio most people are familiar with and helps one determine whether or not a stock is too expensive or a really good deal by looking at the earnings relative to stock price (Siegel, Shim, 2000). As shown above, the ratio helps to gauge the trends of price-earnings of these for two different companies with different business; thus, the P/E ratio may help an investor to make decision. Financial ratio can also bring to light a company’s performance, strengths and weak points. And so, the firm may looks up areas that would need additional effort, upgrading and analysis. For instance, a high ratio inventory turnover ratio could mean that the company has had unexpectedly strong sales — a good sign, or it could mean the firm is not managing its buying as well as it might and inventory that remains in place produces no revenue and increases the cost associated with maintaining those inventories In addition, a ratio analysis provides an excellent and comprehensive tool that helps investment decisions in the case of investors and lending decision in the case of bankers. (Parrino, Kindwell, & Bates, 2011). An example of this will be a firm’s need of money to finance its asset. Creditors will look at company’s current ratio (current assets divide by current liabilities) to determine a company’s ability to weather financial crises, at least in short term. Loans are often attached to this ratio. In the same way, investor looks at company’s profitability ratios to measure how much profit a company generates when they are looking where to invest their money. As can be seen, financial ratios are remarkably helpful indicators of a firm’s performance, and financial situation. Although ratios analyses are useful tool, they should be used prudently. â€Å"Ratios are only as good as the data upon which they are based and the information with which they are compared.† (Kieso, Weygandt, Warfield, 2010)  Thus, ratios analysis present some disadvantages. First, ratios are insufficient in themselves as a source of evaluation about the future (Parrino et al, 2011). They just explain interactions involving past data while users are more interested about present and upcoming information (â€Å"Accounting for management†, 2011). Basically, they give a clue or sign of the business’ strengths and weak points, and that in short term. Therefore, they should be used as only one of analytical tools in the management. Not to mention that ratios are ineffective when used in isolation. Most financial ratios don’t tell the full story. They have to be put side by side over time for the same company or across company or with the sector’s average. A single ratio actually does not make a consistent conclusion. It takes more than a ratio to be evaluated to obtain a suitable action, which makes ratio analyses a little bit complex. For example, the return on asset ratio (ROA), and the profit margin ratios do not incorporate opportunity cost of risk. Similarly, the return on equity ratio (ROE) ignores cost of capital investments required to generate earnings. Another limitation is that ratio analysis depends on accounting data based on historical coast (Parino et al, 2011). According to Kiesel, the fact that ratio analysis is based on historical cost may lead to distortions in measuring performance. Given that the financial statement does not include any financial changes, a modification in price during the run period may not affect the calculated ratio. In fact, inaccurate assessments of the enterprise’s financial condition and performance can result from failing to incorporate fair value information ( Kieso and al, 2010) The last limitation of ratio analysis but not the least is the inflation factor. The fact that different inventory valuation (FIFO, LIFO, Average cost) may be in use to run a business, when prices tend to rise (inflation factor) the choice of accounting method is able to dramatically affect valuation ratios. To put it differently, inflation may render the comparison of financial ratios inappropriate. For instance, one business may use FIFO while another may use LIFO. If this is the case, some of the ratios, such as inventory turnover, and gross profit margin, would be disparate if prices  are rising. Another fact is that the variations of the ratios are shown to be acutely sensitive to recession (Kane, G.D, 1997). In his study, Kane, G.D affirms that value-relevance of many financial ratios are sensitive to the occurrence of recession. As has been noted, accounting policies, and inflation are some factors that have effect on the calculation of ratios. We can therefore argue that ratio analysis is practical tools for users of financial statement. Thus, it simplifies the understanding of financial report, it makes comparison between firms possible, it highlights a company’s performance, and it provides an appropriate tool that helps investor and creditors. We noted that financial ratios have some disadvantages. In fact, they are insufficient in themselves as a source of judgments; they are useless when used in isolation, and they can falsify comparisons when different accounting practices are used. All things considered, I will say that even if ratios analyses have concrete obstacles they still are the most useful tool in the financial world. The most important thing to keep in mind is to know how to use them, and understand their limitation. REFERENCE LIST Books and E-Books Books Kane, G.D (1997). The effect of recession on ratio analysis. The Mid-Atlantic Journal of Business,33 (1), 19. Retrieve from http://www.highbeam.com/doc/1G1-19568525.html Kieso, D.,E., Weygandt, J.J., Warfield, T.D.(2010). Intermediate Accounting. New Jersey: John Wiley & Sons, Inc Parrino, R., Kindwell, D., Bates, T. (2011). Fundamentals of corporate finance. New Jersey: John Wiley & Sons, Inc. E-Books Siegel, J.G., Shim, J.K. ( 2000). Dictionary of Accounting Terms, Retrieve from http://web.ebscohost.com.ezproxy.umuc.edu/ehost Electronic sources Accounting for management, 2011. Retrieve from http://accountingexplained.com/financial/ratios/advantages-limitations http://www.nasdaq.com/symbol/mcd/pe-ratio http://www.investopedia.com/terms/f/financial-analysis.asp#axzz1sqK89uaF[pic][pic]

Hrm Practice in Banking Sector

[pic] Faculty of Business BBA Program A Thesis on Human Resource Management Practices in Banking Sector: On Southeast Bank Limited Submitted to Md. Ashraful Haq Chowdhury ASA University Bangladesh (ASAUB) Submitted By Mir Tasnuva Tanzin BBA (Major in HRM), Batch #2nd ID: 073-12-0137 Date of Submission August 20, 2011 Submission Report Dear Sir, With due respect I would like to inform you that I have successfully completed my Thesis Program from May 15, 2011 to August 15, 2011 at Southeast Bank Limited and conducted the study on â€Å"Human Resource Management Practice in Banking Sector† A case Study on Southeast Bank Ltd. Thesis Program works as a bridge between the academic and the practical knowledge. I am very much fortunate that I got the opportunity to work with some experienced and devoted professionals. As recommended my work is based on the functional procedure of different desks and different departments of the Bank. I tried my best to put meticulous effort for the preparation of this report. Any shortcoming or flaw may arise. I will welcome any clarification and suggestion regarding this report. Sincerely Yours, Mir Tasnuva Tanzin ID 073-12-0137 Batch #2nd Student of BBA ASA University Bangladesh August 20, 2011 Md. Ashraful Haq Chowdhury ASA University Bangladesh. Reference : Letter of Transmittal Dear Sir, Here is the report that fulfills the partial requirements of Thesis program, which is very helpful for a student to know the activities of an organization. This kind of report also gives an important guideline to do research in the future. Thank you very much for your kind supervision and cooperation without which I could not be able to complete this report. I take every opportunity to express my gratitude to you. Thanking you Mir Tasnuva Tanzin ID 073-12-0137 Batch #2nd Student of BBA ASA University Bangladesh Acknowledgement All commendations go to Almighty Allah, the most merciful, most benevolent to man and his action. I would like to express my gratitude to Mr. M. A Mohit the Deputy Managing Director (DMD) of Southeast Bank Ltd. for giving an opportunity to work on the topic as student. I am greatly indebted to Mr. Md. Hamidul Islam Mia HOB of Dhanmondi Br. And HRD of Southeast Bank Ltd. for providing excellent working environment and his full time assistance in preparing this report. I extend my thanks to Mr. Saidul Islam, Mr. Reza, and Mr. Humayon of Southeast Bank Ltd. Dhanmondi Br. Who have their well hearted cooperation and valuable time in completing this report I am also grateful to all the employees of Southeast Bank Ltd. Of Dahnmondi Branch as they helped me out in explaining the work practice and accompanied me through my research period. Finally, my thanks to ASA University (ASAUB) authority for sincere ooperation and all the faculty members whose integrated effort made me capable of conducting this Thesis. Executive Summery This report is an effort to reflect a clear idea about the Bunker-Customers Relationship, strategies, activities and performance of Southeast Bank Ltd. The researcher was assigned it in the Dhanmondi Branch of Southeast Bank Limited (SEBL) as an intern. The researche r presents this report on the basis of the knowledge and experience gained during the research period. The research report is a partial fulfillment of BBA program. In the report on HRM practices in banking sector: A case study on Southeast Bank Ltd. the overall role of HR managers in a bank and how they play their role is presented. Human resource managers perform an identifiable set of activities that affect and influence the people who work in an organization. These activities include HR planning, job analysis, recruitment, selection, placement, training and development, designing performance assessment and compensation systems, and labor relation Since, the HR department plays a support role within the organization; it interacts with a variety of constituencies. TABLE OF CONTENTS |Page# | |Prefatory parts | | |Title Fly | | |Title Page | | |Later of Submission | | |Acknowledgement | | |Executive Summery | | |Table of Content | | | | | |Report proper | | |Chapter One- Introduction | | |1. 1 Background of the study | | |1. 2 Objective of the report | | |1. Methodology of the report | | |1. 4 Scope of the report | | |1. 5 Limitation of the repo rt | | |Chapter Tow – Overview | | |2. 1 Historical Background of Southeast Bank Ltd. | | |2. 2 Special Features of the Bank | | |2. Board of Directors | | |2. 4 Management of the Bank | | |2. 5 Capital Structure of the Bank | | |2. 6 Deposits Status of the Bank | | |2. 7 Profit and operational results | | |2. 8 Selection Process | | |2. Mission, Vision and Objective of SEBL | | |Chapter Three – Understanding the HRM | | |3. 1 General Concept of HRM | | |3. 2 Objectives of HRM | | |3. 3 Basic Principles of HRM | | |3. Approach of HRM | | |3. 5 Philosophy of HRM | | |3. 6 Standard Organ gram of HR Department in a large organization | | |3. 7 Responsibilities of HR Department in a large organization | | |Chapter Four – HR Planning & Forecasting | | |4. Concept of HR planning & forecasting | | |4. 2 Steps of HR planning | | |4. 3 HR planning and the strategic planning process | | |4. 4 Forecasting HR needs | | |4. 5 Forecasting the Internal HR Supply | | |4. Foreca sting the External HR Supply | | |Chapter Five – Recruiting & Selection | | |5. 1 Concept of Recruiting & Selection | | |5. 2 The Recruiting and Selection Process | | |5. 3 Job Analysis | | |5. Job Analysis Methods | | |5. 5 Steps in job Analysis | | |5. 6 A Comparative Discussion between Job Analysis, Job Description, Job Specification, and Job Evaluations. | | |5. 7 Sources of equipment | | |5. 6 Internal sources | | |5. 7 External sources | | |5. 8 Methods of recruitment | | |5. Advantages & disadvantages of internal recruitment | | |5. 10 Advantage & Disadvantage of external recruiting | | |Chapter Six – Training & Development | | |6. 1 Concept of Training & Development | | |6. 2 Need and important of training | | |6. Objectives of Training | | |6. 4 Guidelines and Framework to Design a Training and Development Plan | | |6. 5 Training method | | |Chapter Seven – Compensation & Employee Benefits | | |7. 1 Concept of Compensation & Employee Benefits | | |7. Co mponents of the compensation system | | |7. 3 Wages vs. Salary | | |7. 4 Establishing Pay rates | | |7. 5 Importance of Job Evaluation | | |7. 6 Types of Employee Benefits | | |7. Employees Benefit Programs initiated by HRM | | |7. 8. Employee Services | | |7. 9 Incentive Plans | | |Chapter Eight – Employee Relationship | | |8. 1 The Meaning of Ethics | | |8. 2 Organizational culture | | |8. Employee Discipline and Privacy | | |8. 4 Types of Disciplinary Actions | | |8. 5 Disciplinary Proceeding | | |8. 6 Disciplinary Appeals Processes | | |8. 7 Disciplines without Punishment | | |8. Managing Dismissals | | |8. 9 Grounds for Dismissal | | |Chapter Nine | | |Conclusion | | |Bibliography | | Chapter 1 Introduction 1. 1 Background of the study There is no doubt that the world of work is rapidly changing. As part of an organization then, HRM must be prepared to deal with the effects of the changing world of work. For them, this means understanding the implications of globalization, technology changes, workforce diversity, changing skill requirements, continuous improvement initiatives, contingent workforce, decentralized work sites and employee involvement. We should look how this change is affecting HRM goals and practices. The current challenge of HRM is to integrate programs involving human resources with strategic organizational objectives. More and more, organizations are under tremendous competitive pressure worldwide. HR managers must find ways to develop effective programs to meet this challenge. Another important aspect of HRM is the need to ensure cost effectiveness of programs and policies through the optimal utilization of human resources. 1. 2 Objective of the report The broad objective of the report is to co-ordinate classroom knowledge with practical situation. Specific objectives of the report are: ? To fulfill the course requirement of MBA program; ? To acquire practical knowledge about HRM practices in banking sector’ ? To have practical exposure in banking environment that will help a lot of to understand the future work life; ? To analyze HRM practices in Southeast Bank Limited with classroom (theoretical) knowledge; ? To recommend for improvement of existing HR policy of Southeast Bank Limited. 1. 3 Methodology of the report Methodology includes direct observation, face-to-face discussion with respective executive of the bank, study of files, circulars etc. and practical work. In preparing this report, only secondary data have been used. The required data have been collected from following sources- ? Employees service book of the bank; ? Annual report of the bank; ? Different publications regarding banking function; ? Reference books from library of Stamford University Bangladesh. 1. 4 Scope of the report This report covers only human resource practices is Southeast Bank Limited. It focuses on overview of the bank including a comparative study about standard theoretical aspect of HRM and the existing banking practices. The report also investigates the perceptions of employees of the bank toward employee benefits and development policy. 1. 5 Limitation of the report In spite of hearted cooperation from the bank officials, I faced some limitation in preparation the report. The major limitations are as follows: Learning of overall HRM practices in banking sector within just three months was really tough. Another limitation of this report is bank bank’s policy of not disclosing some data and information for obvious reason, which could be very much useful. Chapter 2 An Overview of Southeast Bank Ltd. 2. 1 Historical Background of Southeast Bank Ltd. Southeast Bank Limited is a scheduled Bank under private sector established under the ambit of bank Company Act, 1991 and incorporated as a Public Limited Company under Companies Act, 1994 on March 12, 1995. The Bank started commercial banking operations effective from May 25, 1995. During this short span of time the Bank had been successful to position itself as a progressive and dynamic financial institution in the country. The Bank had been widely acclaimed by the business community, from small entrepreneur to large traders and industrial conglomerates, including the top rated corporate borrowers for forward-looking business outlook and innovative financing solutions. Thus within this very short period of time it has been able to create a image for itself and has earned significant reputation in the country’s banking sector as a Bank with vision. It has been growing faster as one of the leaders of the new generation banks in the private sector in respect of business and profitability as it is evident from the financial statements for the last 4 years. The Company Philosophy – â€Å"A Bank with Vision† has been preciously the essence of the legend of bank’s success. 2. 2 Special Features of the Bank a) It has been performing conventional commercial banking activity and striving to introduce Islamic Banking functions. ) It is the pioneer in introducing and launching different customer friendly deposit schemes to tap the savings of the people for channeling the same to the productive sectors of the economy. c) For uplifting the standard of living of the limited income group of the population the Bank has introduced Consume r Credit Schemes by providing financial assistance in the form of loan to the consumers for procuring household durables, which have had encouraging responses. d) The Bank is committed to continuous research and development so as to keep pace with modern banking. e) The operations of the Bank are fully computerized so as to ensure quick, prompt flawless and services to the customers. 2. 3 Profile Southeast Bank Limited was established in 1995 with a dream and a vision to become a pioneer banking institution of the country and contribute significantly to the growth of the national economy. The Bank was established by leading business personalities and eminent industrialists of the country with stakes in various segments of the national economy. The incumbent Chairman of the Bank is Mr. Alamgir Kabir, FCA, a professional Chartered Accountant. Mr. M. A. Kashem a member of the Board and Mr. Yussuf Abdullah Harun were past Presidents of the Federation of Bangladesh Chamber of Commerce and Industries (FBCCI). Southeast Bank is run by a team of efficient professionals. They create and generate an environment of trust and discipline that encourages and motivates everyone in the Bank to work together for achieving the objectives of the Bank. The culture of maintaining congenial work – environment in the Bank has further enabled the staff to benchmark themselves better against management expectations. A commitment to quality and excellence in service is the hallmark of their identity. 2. 4 Board of Directors In SEBL the board of directors has been conceived as the sources of all power headed by its chairman. It is legislative body of the bank board can delegate its power and authority to professionals, but can not delegate, relinquish or avoid their responsibilities. The board of directors of the bank consists of 13 members who are reputed business personalities and leading industrialists of the country. 2. 5 Management of the Bank The management team headed by the CEO, Shah Md. Nurul Alam, the President and Managing Director has to take full loan of carrying out the guidelines, rules and regulations and directions given by the board from time to time and provide all the vital information to the BOD for their knowledge and effective decision making. A graphical representation of the hierarchy of the bank is in point. 2. 6 Capital Structure of the Bank The Authorized Capital of the Bank remains unchanged at Tk. 500. 00 million. The Bank went public and floated shares of Tk. 150 million in December of the previous year which was fully subscribed, thereby raising the issued and paid-up Capital to Tk. 330 million. With the increase of paid up capital, the capital base of the Bank has become stronger. 2. 7 Deposits Status of the Bank The Bank mobilized a total deposit of Tk. 38,258. 15 million as on December 31, 2005 as against Tk. 27, 930. 8 million as on December 31, 2004 showing an increase of 30%. The combination of competitive interest rates that offered sustained deposit raising efforts of the Bank and confidence reposed by customers in the Bank resulted in this growth of deposits. Steps are being taken to further increase the deposit base continuously at a Reduced average cost of funds. 2. 8 Profit and operational results The operating profit of the Bank increased to Tk. 665. 16 million in 2003 compared to Tk. 492. 56 million in 2002 recording an appreciable increase which was due to prudent lending and optimum management of funds. The Bank participated in the primary and secondary stock markets and made considerable capital gains during the year. Notwithstanding the tough and cutting edge competitiveness prevailing in the market, the business of this Bank has expanded substantially compared to that of the previous year. This year the management team as well as the workforce is confidently poised to take on newer challenges with a view to reach the ambitious level of performance in respect of accomplishment of the total business activities including attainment of higher profitability of the Bank. 2. 9 Selection Process Southeast Bank Ltd recruits employees on the basis of newspaper circulation & by online e-application on Southeast Bank Limited's web site. At the e-application section candidates are obligatory to drop their CV & on the foundation of Southeast Bank Limited's vacancy & precedence candidates are required to follow their selection procedure as follows: Step 1: Completed application: The application form is given in the online and completely filled applications are carried forward for the preliminary test (employment test). Step 2: Employment test: The Human Resource department mails the admit card to the applicants who have completed the online application successfully via post card. The questionnaire of the test is based on mathematics, English and the respective job questions. It is usually held on 100 marks. The employment test typically holds in any government major educational center. Such as teachers training college of Dhaka, etc. Step 3: Comprehensive interview The applicants passed in the employment written test are called by the bank. They are mailed an invitation for the viva-voce for their post. The applicants have to bring their original educational certificates for producing the same before the interview committee. The certificates are tested here with the application form information. And if any disparity is found the applicant is not allowed confront the interview committee. The passed applicants are given conditional job offer. For permanent job offer they have to pass background examination & medical test steps. Step 4: Background examination: The Human Resource Department scrutinizes the background of the applicant and tries to find out all ins and outs of the respective applicant. The applicants are kept unknown about the background enquiry source. Step 5: Medical test: The applicants are to go for a medical check-up to the authorized medical center Southeast Bank Ltd. Southeast Bank Limited does not carry the medical fees. It is to be carried by the applicant himself. The test report directly goes to the Human Resource Department and the applicants are not permitted to see it. Step 6: Permanent job offer If the 6th, Background examination, and the 7th Medical test, steps are passed successfully, Human Resource Department of Southeast Bank Limited sends an ‘Appointment as Probationary Officer' letter. At the amalgamation day, the applicants are bound to sign up a ‘Letter of Undertaking' for five years continuous service to the bank from the date of confirmation. If he leaves before completion of 5 years confirmed service or during the probation period he will have t refund to the bank 50% of total salary and allowances drawn to him 2. 9 MISSION, VISION AND OBJECTIVES OF SEBL Mission The mission of the bank is to become a highly competitive modern and transparent institution comparable to any of this kind at home and abroad. High quality financial services with state of the art technology. ? Fast customer service. ? Sustainable growth strategy. ? Follow ethical standards in business. ? Steady return on shareholders, equity. ? Innovative banking at a competitive price. ? Attract and retain quality human resource. Commitment to Corporate Social Responsibility. Vision A Bank with Vision is the motto of Southeast Bank Limited. The vision is to be the most efficient financial intermediary in the country through reducing the investment and savings gap of the economy by savings mobilizations and encourage the pace of industrialization. The relentles s journey to achieve that vision started in 1995, since the very inception of the Bank. The journey still continues and will never stop. SBL sets a high standard for itself and every achievement of the bank is a striving agent to reach a new height. Objectives Whether in treasury, consumer, or corporate banking, SBL is committed to provide the best. Meeting the demand of discerning customers is not the sole objective. The Bank believes that to provide standard financial services is to deliver a quality that makes every transaction a pleasurable experience. The bank also believes that Customer is always right and in the core of everything. So providing them friendly and personalized service, tailor-made solutions for business needs, global reach in trade and commerce at the doorsteps and high yield on investments are the core objectives of the bank. But the bank also tries to do the best in conjunction with achieving the ultimate objective of a business organization – Wealth Maximization. Chapter 3 Understanding the HRM 3. 1 General Concept of HRM HRM deals with the design of formal system in an organization to ensure effective and efficiency use of human talents to accomplish organizational goals. Human Resource Management (HRM) is to refer to the philosophy, policies, procedures and practices related to the management of people within an organization. Hr management functions through which manager recruit, select, train and develop organization members. HRM is the systematic planning, development and control of network of interrelated processes affecting and involving all members of an organization. These processes include- ? HR planning & forecasting Job & work design ? Staffing/ recruitment & selection ? Training & development ? Performance appraisal & review ? Compensation & reward ? Employee protection & representation ? Organization & improvement 3. 2 Objectives of HRM The objective of HRM can be described as follows- ? To hire the right person for the job ? To reduce emp loyee turnover ? To motive people to perform at high effort levels. ? Not to waste time with useless interviews. ? To remove unfair labor practices. ? To maintain a high morale & better human relations inside the origination. ? To maintain organizational peace. ? To attract competent people and retain them in the organization. To recognize and satisfy individual needs. 3. 3 Basic Principles of HRM ? Treat people with respect and dignity; ? Treat people as adults; ? Deal with people as complete individuals. ? Treat all employees with justice. ? Provide people with justice. ? Provide people with opportunities for growth and development. ? Make people feel that they are most valuable asset for the organization. ? Rewards should be earned, not given. ? Not to underestimate the potentials of people. ? Provide people with all relevant information. 3. 4 Approach of HRM Strategic approach People are the strategic asset of an organization. People have core competency, the basis of competitiv e advantage. Human resource approach People are human beings with a lot of potentials and intellectual abilities. Commodity approach People are commodity. They are viewed as a cog of a machine. Proactive approach Anticipate challenge of problem before they arise. Preventive is better than curative. 3. 5 Philosophy of HRM 1) Labor is viewed as a technical factor of production. They are treated as a commodity and they can be bought and sold. They are hired and fired at will. It is consistent with theory X. 2) Labor is viewed as human factor with a lot of positive potentials, so they must be treated with respect and dignity. This is consistent with theory Y of McGregor. 3. Standard Organ gram of HR Department in a large organization In organizations large enough to have a HR or personnel department, the personal director and his or her staff will play a key role in the designing and monitoring of human resources system. Larger organizations are more likely to help design and implement HR system. A f ull-time specialist tends to emerge when organization have about one hundred employees. A standard structure of HR department in a large company of several thousand employees is shown below: Fig: Structure of HR Department in a Large Organization 3. 7 Responsibilities of HR Department in a large organization |Position |Responsibilities |VP , HR |Executive committee, Organization planning, HR planning, Policy, Organization development | |AVP, Recruitment & Employment |Recruiting, Interviewing, Testing, Placement & Termination | |AVP, Compensation & Benefits |Job analysis and evaluation, Surveys, Performance appraisal, Compensation administration, | | |Bonus, Profit sharing plans, Employee benefits. | |AVP, Training & Development |Orientation, Training, Management development, Career planning & Development. | |AVP, Employee Relation |EEO relations, Contract compliance, Staff assistance programs, Employee counseling. | Chapter 4 HR Planning & Forecasting 4. 1 Concept of HR planning & f orecasting HR planning is the first step in the recruiting and selection process. Human resource planning is the process of assessing the organization’s human resources needs in light of organizational goals and making plans to ensure that a competent stable workforce is employed. † – Wendell French. â€Å"Personnel planning is the process of deciding what positions the firm will have to fill, and how to fill them. â€Å"—Gary Dessler. In the words of Colman Bruce (1997) HRP is the process of determining manpower requirements and the means of meeting those requirements in order to carry out the integrated plan of the organization. According to the above definitions, HRP consists of the following elements: ? Establishing and recognizing the future job requirement ? Identifying deficiency in terms of quantity Identifying deficiency in terms of quality& specification ? Identifying the sources of right type of man ? Developing the available manpower and ? En suring the effective utilization of workforce. 4. 2 steps of HR planning HR planning is a process involving few stages: ? Integrate HR planning with corporate planning The first stage of HR planning is to integrate it with corporate planning. All manpower planning stems from business plans in relation to a corporate strategy. ? Forecasting internal & external environment The second stage in HR planning is to forecast of assess the internal and external environmental factors include government influences economic, geographic and competitive condition. Assessment of internal HR capabilities The next stage is the analysis of internal inventory of HR capabilities. Assessment of internal strengths and weakness as a part of HR planning requires the current job and employees capabilities are audited and organizational capabilities are inventoried. ? Predicting & Forecasting HR demand and supply The information gathered from external environmental scanning and assessment of internal strengt hs and weaknesses is used to predict of forecast HR supply and demand in light of organizational objectives and strategies. ? To locate the required HR Once the demand for HR has been forecasted, then their availability must be identified. The fourth stage of HR planning is to locate the sources from where personnel required will be available. The source may be internal and external. ? Allocation of HR The final stage of HRP is concern with allocation of human resources within organization overtime. 4. 3 HR planning and the strategic planning process HR planning should be an integral part of a firms strategic and HR planning process. The effective HR planning and strategic planning process is shown below: Fig: HR Planning Process 4. 4 Forecasting HR needs When a firm makes a plan for employment requirements, the firm usually needs to forecast personnel needs, the supply of inside and outside candidates. Different techniques like trend analysis, ratio analysis, and scatter plot can be used to estimate staffing needs. ? Trend analysis Trend analysis means studying variation in the firm’s employment levels over last five years. ? The scatter plot A Scatter plot shows graphically how to variables; business activity and firms staffing levels are related. For example, a newly established bank, which has 20 branches, expects to expand to 50 branches over the next five years. The HR director wants to forecast the requirement of manpower. The director can analyse the relationship between size of another 5 well-reported banks (in terms of number of branches) and their existing manpower. |Name of banks |Size (number of branch. |Existing manpower | |Prime bank |41 |1024 | |Dhaka bank |29 |688 | |NCC bank |41 |1000 | |Exim bank |28 |934 | |Southeast bank |38 |765 | If the bank carefully draws in a line to minimize the distances between the line and each one of the plotted points, the bank will be able to estimate the optimum number of staff needed for each bank size. Thus, for a 50 branches bank, the HR director would assume he needs nearly 1100 staffs. ? Ratio Analysis A forecasting technique for determining future staff needs by using ratio between, for example, number of customers and employee needed. 4. 5 Forecasting the Internal HR Supply Once the demand for labor is predicted, it is necessary to forecast the supply of labor that the organization will already have available to meet the demand. The internal supply of labor consists of all the individuals currently employed by an organization. The internal supply of labor is discharged. To predict the future supply the organization needs to maintain amanagement inventory chart and Human Resource Information System (HRIS). 4. Forecasting the External HR Supply The firms can’t always get all the empliyees they need from their current staff and some time they just don’t want to. So, forecasting the availability of outside supply is extremely important in human resource planning. Bec ause of the need for continuous and adequate staffing, every enterprise depends on the quality and quantity of human resources external to it. Chapter 5 Recruiting & Selection 5. 1 Concept of Recruiting & Selection Recruiting is the process of discovering potential candidates for actual or anticipated organizational vacancies. It involves searching and sourcing for viable job candidates. Recruitment is the process of finding qualified people and encouraging them to apply for work with the firm. On the other hand, selection is the process of choosing among those who do apply. Once an effective recruitment program has supplied enough applicants’ pool the organization faces the task of choosing the best ones for specific jobs. 5. 2 The Recruiting and Selection Process The recruitment process – putting the right people in the right positions at the right times- is one of the most critical tasks any organization faces. Throughout the recruitment process the organization attempts to â€Å"sell† itself to the more promising candidates – that is, to convince them that the organization is a good place to work. The standard recruitment process of a large organization is – Fig: The Recruiting Process Personnel selection is a process of measurement, decision-making and evaluation. The goal of personnel selection system is to bring into organization individuals who will perform well on the job. The standard selection process of large organization typically consist of eight steps : Failed Failedpassed Failed passed Failedpassed passed Problems passed Unfit Fig: The Selection Process 5. 3 Job Analysis A job analysis is a systematic exploration of the activities within a job. It is a technical procedure used to define the duties, responsibilities, and accountabilities of a job. This analysis involves the identification and description of what is happening on the jib – accurately and precisely identifying the required tasks, the knowledge, and the skills necessary for performing them, and the conditions under which they must be performed. 5. 4 Job Analysis Methods The basic methods that HR manager can use to determine job elements and the essential knowledge, skills, and abilities for successful performance include the following – 1) Observation Method Observation method is a job analysis technique in which data are gathered by watching employees work. 2) Individual Interview Method Using the individual interview method, a term of job incumbents is selected and extensively interviewed. The results of these interviews are combined into a single job analysis. 3) Group Interview Method Meeting with a number of employees to collectively determine what their jobs entail. 4) Questionnaire Method Under the questionnaire Method, workers are sent specifically designed questionnaire on which they check or rate items they perform on their job from a long list of possible task items. 5) Technical Conference Method A job analysis technique involves extensive input from the employee’s supervisor. 6) Diary Method The diary method requires job incumbents to record their daily activities. 5. 5 Steps in job Analysis The steps involved in conducting the job analysis include: Fig: Steps in a job analysis 5. A Comparative Discussion between Job Analysis, Job Description, Job Specification, and Job Evaluations. Job Analysis The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it. Job Description A job description is a written statement of what the jobholder does, how it is done, under what condition it is done and why it is done. It is a list of job duties, responsibilities- one product of a job analysis. ? Job Specification The job specification states the minimum acceptable qualifications that the incumbents must possess to perform the job successfully. ? Job Evaluations Job evaluation specifies the relative value of each job in the organization. 5. 7 Sources of equipment There are two sources of requirement: internal and external. Deciding whether the position is to be filled internally or externally is often as early task in recruitment planning for a specific vacancy. Entry-level jobs must be filled externally, but for other positions, internal sources are used. Internal sources are as – ? Hiring relative and dependents of the existing employee; ? By promotion and transfer of existing employees; ? From employees on leave, long course deputation of loan from similar other organization. External sources are as – ? New entrants as fresher from school and colleges; ? Educated unemployed due to lack of opportunities elsewhere; Retired hands with experiences; ? Head hunting. 5. 8 Methods of recruitment There are two methods of recruitment this are – ? Method for internal recruitment ? Job position Job position involves announcing job openings to all current employees. The announcement carry information about the nature of the positio n and the qualifications needs and any employee who is interested may did no the job. ? Employee Referrals Another way to find applicants is through employee referrals by other departments. Informal communications among managers can lead to the discovery that the best candidate for a job is already working in a different section of the firm. ? Skills Inventories Information about every employee’s skills, education, work history and other important factors is stored in a data base, which can then be used to identify employees with the attributes needed for a particular job. ? Method for external recruitment Finding qualified applicants from outside the organization is most difficult part of recruitment. Typically, the external recruitment process uses different methods: ? Advertising Advertising is one of the most popular methods. The most useful advertisement is one that specifies the exact nature of the job, the qualifications required and the salary range. The advertising medium should be selected carefully, with the target audience in mind. ? Employment Agencies There are three types of employment agencies: a) Public agencies; b) Private employment agencies; c) Management consulting firm. Educational institutions generally have placement offices to assist their graduates in finding work. Unfortunately, these kinds of agencies are not popular in our country. ? Campus recruitment Sending an employer’s representatives to college campuses to screen potential applicants and create an applicant pool from the recent graduate is called campus recruiting. It is an important source of management trainees, promotable candidates and professional and technical employees. ? Internship Many college students get their jobs through college internship. Internship is important manpower source for the organization. Internship can be win-win situation for both students and employers. ? Professional Organization Many professional organizations operate placement services for the benefit of their members. These organizations publish of job vacancies and distribute these lists to members. ? Employee leasing Individuals who are hired by one firm and sent to work for a specific duration of time are called leased employees. When an organization has a need for specific employee skills, it contracts with the leasing firm to provide a certain number of trained employees. ? Personal contact Another means of recruiting is the personal contact. Some times personal and good communication can provide an opportunity to get experience manpower as well as better job offer. 5. 9 Advantages & disadvantages of internal recruitment When internal recruiting is used, the vacancy is filled by a person of known ability. There are some benefits of internal recruitment: ? Improve goodwill of the organization; ? Improve morale and motivation of employees; ? Improve probability of better selection since the candidate is better known to the organization; ? Less costly. In the case of internal recruitment, the firm also faces some difficulties ? In breeding prevents injection at new blood in the organization. ? Option in limited in locating right talents. Inhibits innovation and creativity. ? Encourage seniority mire then merit. ? Higher probability of likes or dislikes. 5. 10 Advantage & Disadvantage of external recruiting External recruiting can bring in new ideas and viewpoints. Another advantage are – ? Injection of new blood with new knowledge and creativity. ? Economic in the long run. There are some disadvantages of external recruiting – ? External recruiting is the costly; ? Cause brain drain due to fear of lack of growth potential; ? Hanger probabilities of employee turn over; ? Demoralize existing employee. 5. 11 Practices in the Bank Recruitment Objectives of the Bank: ? To build a jubilant worthy cadre of officers. To provide the bank with an efficient and cost effective human resource setup. ? To keep bank free from unhealthy practice of Trade Union. The bank strictly follows all steps of recruiting and selection process to achieve above-mentioned objectives. The bank recruits from both internal and external sources. The bank makes its applicants pool only by newspaper advertising. Some times they recruit from internship student, where foreign banks i. e. HSBC and Standard Chartered bank, recruit major of their fresh executives from internship students pool. But the bank normally does not go f or campus recruitment as well as other methods. Chapter 6 Training & Development 6. 1 Concept of Training & Development Training is a planned effort by an organization to facilitate employee’s learning of job related knowledge and skills for the purpose of improving performance. Training is the process of teaching new employees the vasic skills they need to perform their job. Training is a learning experience that seeks a relatively permanent change in individuals that will improve their ability to perform on the job. The training function, now popularly called HR development. Employee development, by design is more future oriented and more concentrated with education than employee job – specific training. Development therefore, focuses more on the employee’s personal growth. 6. 2 Need and important of training Training is mainly job-oriented; it aims at maintaining and improving current job performance. The need for the training program may arise due to the following: ? Entry of new recruits ? Promotion ? To increase productivity ? To improve quality ? To met organizational objective ? To prevent accident ? To support personal growth and development 6. 3 Objectives of Training 1. Establish a comprehensive understanding of the target audience community in Partner regions, 2. Identify and agree the target group(s) for the training needs analysis (TNA) within partner regions, 3. Design and implement an analysis of training needs questionnaire, 4. Analysis and document perceived training needs 6. 4 Guidelines and Framework to Design a Training and Development Plan 1. Education for Social Change (Popular and Folk Education) Free Online Lesson Plans, Lecture Notes, etc. 2. Online Resources (each having lists of resources) About Training and Development 3. Online Educational Directories, Learning Portals, etc. About T&D 6. 5 Training method Training methods consider the choice of method for employee training. With training objectives defined and learning principles in mind. Methods of training are basically tow types- ? On the job training The initial stages in the planning and design of an on the job training are: a) Refer to the agreed objectives for the training as produced in the TNA or the initial planning stages. ) Consider the identified target learning population and how they might affect the training design. c) List the ways in which each objective might best be met. d) Decide whether the learning might be best achieved by an on the job or off the job training. ? Off the job training Off the job training:- Off the job training is conducted in a location specifically designated for training. It may be near the work place or away form work, at a special training center or a resort. Conducting the training away from the work place minimizes distractions and allows trainees to devote their full attention to the material being thought. Chapter 7 Compensation & Employee Benefits 7. 1 Concept of Compensation & Employee Benefits Once employees have done their jobs and been appraised, they expect to be paid. Employee compensation refers to all forms of pay or rewards going to employees and arising from their employment. It has two main components: (1) Direct financial payments (wages, salaries, incentives, commissions and bonuses), and (2) Indirect payments (financial benefits like employer-paid insurance and vacations, child care facilities). In addition to compensation in the form of wages and salaries, HRM provides workers with various services and programs known as employee benefits. 7. 2 Components of the compensation system Fig:-Components of the compensation system 7. 3 Wages vs. Salary The words wage and salary are sometimes considered synonymous, but they have slightly different meanings. Wage refers to an hourly rate of pay and is the pay basis used most frequently for production and maintenance employees. Salary refers to a weekly, monthly or yearly rate of pay. Clerical, professional, sales and management employees are usually salaried. 7. 4 Establishing Pay rates The process of establishing pay rates while ensuring external, internal and procedural equity consists of five steps: 1) Conduct a Salary Survey The first step of establishing pay rates is to conducting a salary survey of what other employers are paying for comparable jobs. A survey aimed at determining prevailing wages rates. A good salary survey provides specific wage rates for specific jobs. 2) Job Evaluation Job evaluation is a systematic comparison done in order to determine the worth of one job relative to another. It is a formal and systematic comparison of jobs to determine the worth of one job relative to another and eventually results on a wage or salary hierarchy. 3) Group Similar Jobs into Pay Grades Once has used job evaluation to determine the relative worth of each job, the committee can turn to the task of assigning pay rates to each job; however, it will usually want to first group jobs into pay grades. It could, of course, just assign pay rates to each individual job. A pay grade is comprised of jobs of approximately equal difficulty or importance as established by job evaluation. 4) Price Each Pay Grade – Wage Curves The next step is to assign pay rates to the firms pay grades. The firm can use a wage curve to help assign pay rates to each pay grade. The wage curve shows the relationship between the value of the job and the average wage paid for this job. 5) Five – Tune Pay Rates Five – tuning involves developing pay range and correcting out of line rates. Pay ranges is a series or levels within a pay grade, usually based upon years of service. 7. 5 Importance of Job Evaluation Job evaluation is aimed at determining a job’s relative worth. It compares jobs to one another based on their content, which is usually defined in term of compensable factors like skills, effort, responsibility, and working conditions. 7. 6 Types of Employee Benefits a) Mandatory Benefits Organizations are required to pay these benefits to the employees by law, rules, acts or ordinance. Example: Salary, Bonus. b) Non-mandatory benefits Optional programs and services such as tuition refunds, variety of discount programs, day care facilities for children, credit program etc. 7. 7 Employees Benefit Programs initiated by HRM There are many benefits and various ways to classify them. We can classify them as I. Pay for time not worked II. Insurance benefits III. Retirement benefits IV. Service benefits 7. 7. 1 Pay for Time Not Worked Pay for time not worked – also called supplemental pay benefits- is one of an employer’s most costly benefits, because of the large amount of time off that many employees receive. Common time off with pay periods include holidays, vacations, jury duty, funeral leave, personal days, sick leave, sabbatical leave, maternity leave and unemployment leave insurance payment for laid off or terminated employees. The following figure illustrates a wide rage of such benefits: Fig:- Payment for time not worked. 7. 7. 2 Insurance Benefits Most employers also provide a number of voluntary insurance benefits. Medical or health insurance is a major optional protections benefit offered by employers. Insurance benefits include worker’s compensation, group hospitalization, accident, disability insurance and group life insurance. ? Worker’s Compensation Worker’s compensation provides promote income and medical benefits to work related accident victims or their dependents regardless of fault. Worker’s compensation benefits can be monetary or medical. In the event of a worker’s death or disablement, the person’s dependents are paid a cash benefit based on prior earnings. ? Health and Disability Insurance Health and disability insurance helps protect against hospitalization costs and the loss of income arising form off-the-job accidents or illness. Many employers purchase the insurance from life insurance companies. Most health insurance plans provide at least basic hospitalization and surgical and medical insurance for all eligible employees at group rate. ? Life Insurance Group life insurance provides cower rate for the employer of employee and includes all employees, including new employees, regardless of health or physical condition. In addition to hospitalization and medical benefits, most employers provide group life insurance plans. In many cases, the employer pays 100% or 50% of the basic premium, which usually provides life insurance. 7. 7. 3 Retirement Benefits A very important benefit to most employees is a retirement plans. The major retirement benefits are the social security program and pension plans. ? Social Security Most people assume that social security provides income only when they are over 60, but it actually provides three types of benefits: The familiar retirement benefits- provide an income if the employee retire at 60; survivor’s or death benefits payable to the employee’s dependents regardless of age at the time of death; and disability benefits payable to disabled employees and their dependents. These benefits are payable only if the employee is insured under the social security Act. ? Pension Plans Pension plans provide a fixed sum when employees reach a predetermined retirement age or when they can no longer work due to disability. There are many kinds of pension plan: ? Contributory VS. Noncontributory Under contributory plans, both employees and employers are required to contribute to the pension fund, while under noncontributory plan; pension funding is the sole responsibility of the employer. In noncontributory plans where contributions are based on company profits (deferred profit sharing plans), accumulated funds are usually allocated on the basis of salary. ? Defined benefit VS. Defined contribution plan With defined benefit plans, the employee knows ahead of time the pension benefits he/she will receive. The defined pension benefits itself is usually set by a formula that ties the person’s retirement pension to an amount. Defined contribution plans specify what contribution the employee and employer will make to the employee’s retirement or savings fund. Here, in other words, the contribution is defined, not the pension. With a defined benefit plan the employee knows what his/her retirement benefits will be upon retirement. With a defined contribution plan, the person’s pension will depend on the amounts contributed to the fund and on the retirement fund’s investment earning. 7. 8. 4 Employee Services In addition to the benefits describe above, organization’s offer a wealth of services employees may find desirable. These services can be provided to the employee at no cost or at a significant reduction from what might have been paid without the organization’s support. Services provided to employees may be- ? Wellness Program In an effort to stimulate wellness, many employees can provide recreational facilities for employees or reimburse employees for health club memberships. Other companies provide incentives for employees to participate in exercise programs, ‘quit smoking, lower blood pressure or cholesterol or to take similar steps toward good health. ? Educational Assistance Another important benefit is educational assistance. Some times companies offer monthly stipends for students. Typically, employees are reimbursed for tuition and possibly for books or other associated costs. ? Child-care Assistances It is likely that every major company will soon consider offering child-care assistance as an employee benefit. In most recent year this benefit is being popular in our country because of the number of women in the labor market has increased dramatically. ? Another Services are Another important services, that can be provided by the company are: Social and recreational events, employee assistance programs, credit unions, housing, tuition reimbursement, company paid transportation, free coffee, baby-sitting services or referrals. 7. 9 Incentive Plans Manager may offer group and individual incentive plan those ties pay to some measure of he firm’s overall profitability. Several incentive plans are: ? Piecework Plans A system of pay based on the number of items processed by each individual worker in a unit of time, such as items per hour or items per day. ? Merit Pay as an Incentive Merit pay or a merit raise is any salary increase the firm awards to an individual employee based on his or her individual performance. ? Profit Sharing Plans Profit sharing plan is a plan whereby employees share in the company’s profits. There are several types of profit sharing plans: ? In cash plans In cash plans, the firm simply distributes a percentage of profit as profit shares to employees. ? Deferred profit sharing plans The firm places a predetermined portion of profit in each employee’s account under a trustee’s supervision. ? Employee Stock Ownership Plans (ESOP) ESOPs are company wide plans in which a corporation contributes shares of its own stock or cash to be used to purchase such stock of the firm’s stock tor employees. Chapter 8 Employee Relationship 8. 1 The Meaning of Ethics Ethics refers to â€Å"the principles of conduct governing an individual or a group† and specifically to the standards individual use to decide what he/she conduct should be. 8. 2 Organizational culture Organizational culture is the characteristic values, traditions and behaviors a company’s employees share. A value is a basic belief about what is right or wrong, or about what should or should not do. 8. 3 Employee Discipline and Privacy The purpose of discipline is to encourage employees to behave sensibly at work (where sensible is defined as adhering to rules and regulations). In an organization, rules and regulations serve about the same purpose that laws do in society; discipline is called for when one of these rules or regulations are violated. A fair and just discipline process is based on three prerequisite: rules and regulations, a system of progressive penalties and an appeals process. The four main types of employee privacy violations upheld by courts are intrusion, publication of private matters and disclosure of medical records and appropriation of an employee’s name or likeness for commercial purposes. 8. 4 Types of Disciplinary Actions ? Minor Penalties ? Reprimand / censure; Withholding for a specified period or stoppage of increment, confirmation or promotion; ? Stoppage for a specified period at an efficiency bar in the time scale; ? Any other minor punishment. ? Major Penalties ? Recovery fr om salary of the whole or part of any pecuniary loss caused to the band by the employee; ? Degradation to any lower post; ? Compulsory retirement from service with or without retirement benefits; ? Removal from service; ? Dismissal from service. 8. 5 Disciplinary Proceeding ? Before imposing any penalty as above, the employee concerned shall be informed in writing about the charges and also be given an opportunity to answer to the charges in writing. An inquiry into charges may be held before taking final action in this regard and the competent authority may appoint an inquiry officer senior in rank to the accused to inquire into the charges and to submit his findings before passing final order in the case. ? An employee, against whom disciplinary action is proposed to be taken, may be placed under suspension, or the competent authority may order him to proceed on leave. ? The period of suspension will not exceed 90 days. If an employee, put under suspension, is not found guilty, he shall be entitled to full salary for the period of his suspension. ? If an employee put under suspension, is awarded any penalty in case of compulsory retirement or dismissal from service, the effect shall be from the date of suspension and in the case of any other penalty, the effect shall be from the date of passing of the order by the competent authority. An employee who has been awarded any penalty shall have a right to appeal to the competent authority within 30 days (or any period determined by the authority) from the date of the order. 8. 6 Disciplinary Appeals Processes The disciplinary appeal process consists of following three steps: Steps 1: Management review In step 1, the complainants submit a written complaint to a member of management (e. g. manager, senior manager or managing director) within seven calendar days of the occurrence of the eligible issue. Steps 2: Officer Complaint If not satisfied with that decision in step 1, then in step 2, the complainant submits a written appeal to the vice president or senior vice president of the division within seven calendar days of the step 1 decision. Step 3 Executive appeal Review Finally in step 3, the complainant may submit a written complaint within seven calendar days of the step-2 decision to the employee relations department. This department then investigates and prepares case file for the executive review appeals board. 8. 7 Disciplines without Punishment No one likes being punished. The basic aim of discipline without punishment is to gain an employee’s acceptance of the rules by reducing the punitive nature of the discipline itself. 8. 8 Managing Dismissals Dismissal is the involuntary termination of an employee’s employment with the firm. Dismissal is the most drastic disciplinary step the manager can take. Because of this, special care is required to ensure that sufficient cause exists for it. Managing dismissals is an important part of any supervisor’s job. The best way to handle a dismissal is to avoid it in the first place. Many dismissals start with bad hiring decisions. Using sound selection practices including assessment tests, reference and background checks, drug testing and clearly defined job descriptions can reduce the need for many dismissals. 8. 9 Grounds for Dismissal There are four bases of dismissal – 1. Unsatisfactory Performance Unsatisfactory performance may be defined as persistent failure to perform assigned duties or to meet prescribed standards on the job. Specific reasons include excessive absenteeism, tardiness, and adverse attitude toward the company, supervisor or fellow employees. 2. Misconduct Misconduct is deliberate and willful violation of the employer’s rules and may include stealing, rowdy behavior and insubordination. 3. Lack of Qualification for the Job Lack of qualification for the job is an employee’s inability to do the assigned work although he/she is diligent. 4. Insubordination Insubordination, a form of misconduct, is sometimes grounds for dismissal. It should remember that some acts are or should be deemed insubordinate whe

Philosophy Plato Essay

A way of life not just a specialised and technical activity in about 387 BC, he attended The Academy  ­ lasted for a 1000 yrs. Socrates was only interested in  ­ ethics. While Plato was interested in  ­ ethics, metaphysics, politics, aesthetics, Mathematics Plato’s Allegory (story in which there is a fact & a true story) of the Cave Plato asks ; â€Å"What would happen if one of these prisoners were released from his chains, were forced to stand up, turn around (conversion) and walk with his eyes lifted up towards the light?† Eventually, he would be able to see the real object for and in itself ;  ­Lifting his eyes upward, he would find it easier to look at the stars at night Finally, he would look right at the SUN in its Natural position in the sky and ;  ­ Not at its Reflections from or through anything else How would the liberated prisoner feel about his previous life in the cave?  ­ He would recall what his fellow prisoners and himself took to be Wisdom.  ­ He would recall how they used to give prizes to the one who had the sharpest eye for assign shadows and the best memory for the order in which the shadows followed each other. â€Å"If they could lay hands on the man who was trying to set them free and lead them up, they would kill him†. The implications of the Allegory ; Many people dwell in the Darkness of the cave †¦ They have oriented their thoughts around the blurred world of Shadows †¦ Education  ­ leads people out of the cave of Darkness into the world of light. (Education means  ­ to bring out. (of the cave) ). Just as the prisoner had to turn his Whole Body around so that his eyes could see the light instead of the darkness. It is also necessary for the entire should to turn away from the deceptive world of change and appetite that causes blindness in the should. Education according to Plato is ; A matter of Conversion  ­ A complete turning around from the world of Appearance to the world of reality. † The conversion of the soul is not to put the power of sight in the soul’s eye, which already has it, but to insure that, instead of looking in the wrong direction, it is turned the way it ought to be†. Plato’s rejection for the sophist’ skepticism ; The dark world of the cave ( particular  ­ many  ­ change  ­ finite) , Vs the bright world of light ( light is knowledge for plato  ­ sun  ­ absolute  ­ one  ­ permanent / changeless  ­ infinity). Dramatic contrast between; 1) shadows > 2) reflections > 3) The actual objects (ultimate knowledge) (process of education ^) With the Sophists, Plato and Socrates agree that knowledge derived from Sense experience is Relative, but he maintains that ; Not all knowledge is relative  ­ therefore, Absolutism Plato’s Divided Line ; (top 2  ­ The world of thought  ­ changeless) (bottom 2  ­ The world of Opinion  ­ change) (The line that divides every stage is not equal, meaning that it is more difficult to reach from level 3 to level 4 than from level 1 to level 2). (Outside the Cave) (Objects of knowledge)

Describe the research methods and findings of one sociolinguistic Essay

Describe the research methods and findings of one sociolinguistic research project undertaken by Labov.( NOT the New York Department store study) - Essay Example The aim of descriptive research is to verify formulated hypotheses that refer to the present situation in order to elucidate it. Descriptive research is thus a type of research that is primarily concerned with describing the nature or conditions and degree in detail of the present situation (Landman 1988. p. 59). Descriptive Research also aims to show what already exists in a population or group of people. For example, an opinion poll that is conducted to determine the most popular Presidential candidate in an upcoming election, or the type of research used in this paper. Here are the results of an interview carried out in a New York City school. During the interview, a black boy enters a room where there is a big, friendly white interviewer. The interviewer puts a fire engine or a block on the table between them, and asks the boy to describe what he can about the object. In the conversation below, the remarks in parentheses are the interviewer's Here we can see the same kind of monosyllabic and defensive behavior and way of speech which produces a situation in which the child is in an asymmetrical situation where anything he says can, literally, be held against him, as Bereiter reported in his work. The child has seems to have acquired a number of devices to avoid saying much in a situation like this, and he strives quite hard to achieve this end. If one takes this interview as a measure of the verbal capacity of the child, it must be as his capacity to defend himself in a hostile and threatening situation. But unfortunately, thousands of such interviews are used as evidence of the child's total verbal capacity, or more simply his verbality: it is argued that this lack of "verbality" explains his poor performance in school. (Labov, W 1972 p. 8) The verbal behavior that is shown by the child in the interview above is not as a result of ineptness on the part of the interviewer. Rather, this is the result of regular sociolinguistic factors that are in operation both on the child and the adult in this asymmetrical situation. In urban ghetto areas, it is usual to encounter such behavior. Clarence Robins has worked with a group of boys ten to twelve years old, known as the Thunderbirds, and who dominated the preadolescent group in a low-income project in Harlem. In an interview involving a few younger brothers of the Thunderbirds aged between eight and nine years old, the question and answer approach was utilized, but this old approach did not work. Below is an extract from the interview between Clarence and Leon, an eight year old boy. CLARENCE: What if you saw somebody kickin' somebody else on the ground, or was using a stick, what would you do if you saw that LEON: Mmmm. CLARENCE: If it was supposed to be a fair fight-- LEON: I don'

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Ethics - Essay Example The Chinese civilization focused on agriculture. Taoism and Confucianism acted as the two main schools of thoughts and Chinese philosophy. The interaction of Chinese civilization with nature has led its people to gain an appreciation and admiration towards nature (Gao, 2012). The Chinese culture highly value nature. The valuing of nature in this culture results from emotional influences. Chinese art such as gardening, landscape painting and poetry has a close relationship with nature. This shows that the pursuit of nature with harmony is a constant event and effort in Chinese cultural practice and philosophy. The Chinese culture views nature as a self-generating process of reproduction and production of life. The Chinese economy heavily relies on manufacturing and exporting, which leads to immense environmental degradation. Additionally, China has made huge investments in the exploitation of natural resources in Asia and African countries. This also leads to massive environmental degradation because of overexploitation. The interactions of Chinese societies with nature are influenced by the concept of chi that plays a crucial role in Chinese philosophy. The concepts of chi and empathy immensely influence the Chinese appreciation of nature. Chinese philosophy views nature as an organic system that is continuously self-generating. The concept of chi is essential in the ethical interaction and appreciation of nature. Chi contains both spiritual and material meaning (Gao, 2012). Cheng Chung-Ying states that chi contains epistemological, metaphysical and scientific theory and aesthetic dimension (Cheng, 1986, 356). Chi has characteristic features that are closely interconnected. These features are creativity, emptiness and continuity. Continuity means that chi is the basic component that makes everything. Therefore, all spaces and things are

Influence of Employee Voice on Pay Determination Coursework

Influence of Employee Voice on Pay Determination - Coursework Example It is evidently clear from the discussion that Marsden makes use of the concept of a ‘zone of acceptance’ as the core of his article, in which, to put it in a nutshell, he suggests that employers need to periodically revise the roles and preferences of themselves and of employees as a necessary prerequisite for the process of adaptation through integrative bargaining, which deals with reaching in agreements to increase the size of the pie. The article discusses the ways in which collective employee voice can enable individual level integrative negotiations in the jurisdiction of non-codified elements of employment conditions that he calls ‘psychological contracts’, quoting Denise Rousseau. The ‘zone of acceptance’ decides the range of tasks that employees are prepared to perform and their time periods. However, to keep up with changing production and market requirements, organizations need to revise the boundaries of this zone periodically, with employee consent, if the organization has to survive. This is accomplished by communication with the employees and revising their beliefs and expectations contained in the ‘psychological contract’. The relationship of employment contains both psychological and economic constituents. According to the mutual interests of the parties involved, its contractual form is chosen from among a range of alternative ways of organizing transactions. Its economic basis defines the individual voice as well as collective employee voice which form the basis for renegotiating and inducing changes in the boundaries of the ‘zone of acceptance’. Marsden cites Ram to suggest that a negotiated order of varying degrees governs the workplace. Performance management in the British public sector and private sector organizations combines employee goal-setting and appraisal to performance related determination of pay. Marsden seeks to extend the range of voice mechanisms employers cho ose and tries to find out the reasons as to why employers choose a particular voice mechanism over others by analyzing the individual-level renegotiation of the zone of acceptance as a form of integrative bargaining, whose quality decides its outcome. The author argues that the importance of collective voice lies in its ability to remove distributional elements away from the bargaining, thus enabling individual level focusing on â€Å"win-win’ aspects of integrative negotiation, which improves the design of systems and of procedural justice.

Psych 1010 out of class activity 5 Essay Example | Topics and Well Written Essays - 1000 words

Psych 1010 out of class activity 5 - Essay Example Sleep Diary: Night 2. Tuesday. 1. Total time spent sleeping 7.25 hours 2. Number of times you woke up during the night None 3. Number of separate dreams you can recall at least partially.   None 4. Number of dreams related to experiences of the recent days.*   None 5. Overall Sleep Rating ( 1 – 7 ) 3 – I feel rested. Sleep Diary: Night 3. Wednesday. 1. Total time spent sleeping 5.25 hours 2. Number of times you woke up during the night Three 3. Number of separate dreams you can recall at least partially.   Two 4. Number of dreams related to experiences of the recent days.*   None 5. Overall Sleep Rating ( 1 – 7 ) 6 = I feel groggy. Sleep Diary: Night 4. Thursday. 1. Total time spent sleeping 3.75 hours 2. Number of times you woke up during the night Twice 3. Number of separate dreams you can recall at least partially.   Two 4. Number of dreams related to experiences of the recent days. One 5. Overall Sleep Rating ( 1 – 7 ) 7 = I feel very tired a nd want to go back to bed Sleep Diary: Night 5. Friday. 1. Total time spent sleeping 6.75 hours 2. Number of times you woke up during the night Once 3. Number of separate dreams you can recall at least partially.   None 4. Number of dreams related to experiences of the recent days.*   None 5. ... Sleep Diary: Night 7. Sunday 1. Total time spent sleeping 8.25 hours 2. Number of times you woke up during the night Once 3. Number of separate dreams you can recall at least partially.   One 4. Number of dreams related to experiences of the recent days.*   None 5. Overall Sleep Rating ( 1 – 7 ) 3 = I feel rested   MEAN/AVERAGE SCORE 1. Total time spent sleeping 6.54 hours 2. Number of times you woke up during the night 1.14 times 3. Number of separate dreams you can recall at least partially.   1.29 dreams 4. Number of dreams related to experiences of the recent days. 0.29 dreams 5. Overall Sleep Rating ( 1 – 7 ) 4.57 4 = I feel neither refreshed nor tired   5 = I feel somewhat sleepy   HANDOUT 8.2 In general, what do you dream about? How do you feel about your dreams, in general? Usually the dreams I have are pretty abstract but I have noticed that most of my dreams comprise of natural elements such as water or wind and sometimes animals such as cats and s nakes. Describe some of the dreams you had over this period. Were they recurring dreams or did they happen only once? Why did this dream stand out from others? I don’t recall having any recurring dreams during this period however I did dream of a very long snake with red eyes that appeared to be hissing at something hidden in the shadows. Also I do recall dreaming of a huge mansion on top of a hill which was lavishly decorated. I remember being trapped inside the mansion as water starts flooding in from all sides; anxious to find a way out I run out to the back exit only to find I was on the edge of a cliff. I remember jumping from the edge; such had been my fear of drowning in the growing amount of water. This was when I woke up (Thursday, Night 4). This dream

Organic Chemistry (Methamphetamine) Essay Example for Free

Organic Chemistry (Methamphetamine) Essay Methamphetamine was first synthesized from ephedrine in Japan in 1893 by chemist Nagai Nagayoshi. In 1919, crystallized methamphetamine was synthesized by Akira Ogata via reduction of ephedrine using red phosphorus and iodine. Synthesis is relatively simple, but entails risk with flammable and corrosive chemicals, particularly the solvents used in extraction and purification; therefore, illicit production is often discovered by fires and explosions caused by the improper handling of volatile or flammable solvents. Most of the necessary chemicals are readily available in household products or over-the-counter cold or allergy medicines. When illicitly produced, methamphetamine is commonly made by the reduction of ephedrine or pseudoephedrine. The maximum conversion rate for ephedrine and pseudoephedrine is 92%, although typically, illicit methamphetamine laboratories convert at a rate of 50% to 75%. Methamphetamine has been reported to occur naturally in Acacia berlandieri, and possibly Acacia rigidula, trees that grow in West Texas. Methamphetamine and regular amphetamine were long thought to be strictly human-synthesized, but Acacia trees contain these and numerous other psychoactive compounds (e.g., mescaline, nicotine, dimethyltryptamine), and the related compound ÃŽ ²-phenethylamine is known to occur from numerous Acacia species. Diagrams Health Concerns Physical effects can include anorexia, hyperactivity, dilated pupils, flushing, restlessness, dry mouth, headache, tachycardia, bradycardia, tachypnea, hypertension, hypotension, hyperthermia, diaphoresis, diarrhea, constipation, blurred vision, dizziness, twitching, insomnia, numbness, palpitations, arrhythmias, tremors, dry and/or itchy skin, acne, pallor, and with chronic and/or high doses, convulsions, heart attack, stroke, and death can occur. Psychological effects can include euphoria, anxiety, increased libido, alertness, concentration, energy, self-esteem, self-confidence, sociability, irritability, aggression, psychosomatic disorders, psychomotor agitation, grandiosity, hallucinations, excessive feelings of power and invincibility, repetitive and obsessive behaviors, paranoia, and with chronic and/or high doses, amphetamine psychosis can occur. Methamphetamine use has a high association with depression and suicide as well as serious heart disease, amphetamine psychosis, anxiety and violent behaviours. Methamphetamine also has a very high addiction risk. Methamphetamine also is neurotoxic and is associated with an increased risk of parkinsons disease. Methamphetamine abuse can cause neurotoxicity which is believed to be responsible for causing persisting cognitive deficits, such as memory, impaired attention and executive function. Over 20 percent of people addicted to methamphetamine develop a long-lasting psychosis resembling schizophrenia after stopping methamphetamine which persists for longer than 6 months and is often treatment resistant. Meth labs can also be fatal seeing as they often blow up. This is usually due to amateur chemists operating them. They can also give off deadly fumes. Where It Is Commonly Found Methamphetamine is FDA approved for use in children and adults under the trademark name Desoxyn. A generic version became available in April, 2010. It is prescribed as a treatment for ADHD and exogenous obesity, as well as off-label for the treatment of narcolepsy and treatment-resistant depression. Physical Properties Formula C10H15N Mol. Mass 149.233g/mol Half-Life 9-12 hours Metabolism hepatic IUPAC Name N-methyl-1-phenylpropan-2-amine Structure Related To Function The structure of this molecule is very much related it’s function. It closely mimics another molecule which stimulates the brain. This molecule fits the receptor site and therefore acts as a stimulant. Functional Groups Methyl Amino Aromatic (Phenyl)

The Blessed Sacraments Of Catholic And Christian Religion

The Blessed Sacraments Of Catholic And Christian Religion The Blessed Sacraments each of them very vital to Catholics and Christians, either as an element of personal spiritual growth or in terms of their significance to the church as a whole, and a lane on the road to God. These sacraments are ceremonial and point to what is sacred, significant and vital for Christians. There are seven Sacraments according to the Roman Catholic Church Baptism, Confirmation, Eucharist, Penance or Reconciliation, Anointing of the Sick, Matrimony (Marriage) and Holy Orders; these were designed to reinforce an individuals connection with God. The word sacrament comes from the Latin word Sacramentum, which means a sign of the sacred, and can be translated as mystery. o Sacraments of Initiation: Baptism, Confirmation, and Eucharist o Sacraments of Healing: Reconciliation or Penance, and Anointing of the sick o Sacraments of Service of Communion: Matrimony and Holy Orders Baptism Baptism is the first sacrament a Catholic/Christian receives. It begins a lifelong voyage of commitment and discipleship. Under the three sacraments of initiation, Baptism is the first. Before one can receive other sacraments, one must be baptized. The sacrament can only be received once in terms of its power to convey forgiveness of all sins, and can be received at any age. Eucharist The Eucharist is the main building block in the faith. This sacrament occurs when Catholics in good standing accept the body and blood of Jesus Christ, considered both a sacrifice and a meal, to bring them closer to God. This sacrament was initiated by Jesus, during the Last Supper that he shared with his disciples. Catholics believe that the sacrament, which must be celebrated by an ordained priest, starts by turning the bread and wine, to the body and blood of Christ during the blessing and in the true presence of Jesus, who died for our sins. Confirmation Confirmation is the third sacrament under the initiation sacraments. Although one may already have the Holy Spirit inside them, this sacrament helps one to use the Spirit within them and recognize its presence. After one is confirmed they are considered a mature individual to the faith to the people of their faith and church. One has the responsibility to the faith and to their church. The sacrament of confirmation is normally administered by the Bishop; on the other hand due to certain conditions the Bishop could assign a priest to administer the confirmation services in his absents. Those being confirmed, t sacrament shows sharing of the Holy Spirit with the laying on of hands. Penance This sacrament is called by three names, confession, reconciliation, and penance. Each of these reflect one element of the sacrament. This is called confession; since one must identify and confess ones sins. One must admit they have done something immoral and are willing to take penance for. This is also is called penance because one must do something to make up for their sins. It shows that they have owned up to ones sin and are ready to strive to do better. This is called reconciliation; since one must be willing to reconcile with God and those they have wronged. The third and last is the sacrament of Penance, which restores the gift of Gods grace to one. Matrimony The sacrament of matrimony (marriage), is when a man and woman take the vows of faithfulness for one another through marriage in the eyes of all Christians. The married couple shows their marriage as a way they can live out their Christian baptismal faith. Catholics and most Christian marriages comprise of three key characteristics: their everlasting obligation to one another, their unconditional love and care for one another, and intention to have and care for children. Holy Orders The sacrament of Holy Orders (Ordination) is when a Bishop, Priest, or Deacon is the ordained, and who vows to lead other Catholics or Christians by bringing them the sacraments, by proclaiming the Gospel, and by providing other means to holiness (especially the Eucharist). The Holy Orders provides these individuals who are called upon to assist others the opportunity to do that with serving others onto their sacred journey. This provides them the power to execute certain sacraments and rituals in the Catholic faith. Anointing of the Sick Anointing of the Sick (formally known as the Last Rites) is the sacrament that gives individuals who are suffering help. This may heal them or provide them the grace and power they need to tolerate their illness and make penance with God. Under this sacrament, the priest uses his hands on the forehead, nostrils, cheeks, lips, breast, palms of both hands, and the back of the hands (known to some as motion of lying of the hands). Then the priest speaks the words from the prayer of the gospel for behalf of the sick along with the blessing of anointing with oil; to bring the sick closer to understanding their belief and journey at that present moment in time with God. Also, this sacrament celebrates the resurrection in several ways. This helps the person to be less scared on whats to happen or whats to come if they were to pass on. A sacrament gives grace of and by itself, by the power it possesses. Jesus attached grace to the outward sign, so that that outward sign and grace go together. The blessed sacraments are quite amazing: these are everyday signs of Gods personal work. Gods wisdom showed his grace in a noticeable way to provide all of us the quieting belief when one receives grace, when he provided it. And Christ gave us several wonderful gifts. And in his sacraments, he continues to supply those gifts to us, away from all measures, at any time we require them. The Orthodox and Anglican traditions also practice all seven sacraments. Other Christian denominations only celebrate baptism and communion.

Measuring Partition Coefficient

Measuring Partition Coefficient Abstract This Laboratory study deals with the Analytical Procedure of the Measurement of Partition Coefficient. Partition Coefficient is a very important criterion for Organic substances. It finds use in Pharmaceutical Industry, Pollution abatement systems, Agro Chemicals, and Chemical Industry. There are many methods available for determining the Partition Coefficient, especially Instrument methods like, Chromatography, Electrophoresis etc. The method adopted here is a simple, reliable and versatile one, which utilizes basic principles of Chemical Analysis. The method used was by measurement of pH and Colorimetric determination of the organic Ligand. The process used for partitioning was à ¢Ã¢â€š ¬Ã…“Shaking Flask methodà ¢Ã¢â€š ¬Ã‚ . The given sample was diluted and buffered appropriately and an aliquot was partitioned with an equal quantity of the given oil. The pH of the aqueous phase was measured. The clear aqueous solution was further diluted appropriately and used for Colorimetric estimation using a Calibration graph prepared. These data were used for computation of apparent Partition coefficient and then true Partition coefficient. Measuring Partition Coefficient Chemistry is a material Science, dealing with the study of Physical and Chemical properties of the matter found in the universe. There are many disciplines in Chemistry dealing with different materials and properties, like Inorganic Chemistry, Organic Chemistry, Physical Chemistry, Pharmaceutical Chemistry, Analytical Chemistry etc. The Analytical Chemistry is a special branch of Chemistry dealing with the determination of Chemicals, quantity wise and quality wise. The Analytical Chemistry uses the knowledge available in other branches of Chemistry, like Inorganic Chemistry, Organic Chemistry, Physical Chemistry, and many principles of Physics. The uses and applications of Analytical Chemistry are wide, and practically, in every aspects of human life, analytical Chemistry is involved in some way or other, say, in Clinical Chemistry, Pharmaceutical Chemistry, Forensic Chemistry, in commerce, in Customs Department and so on. The measurement of Partition Coefficient is a typical analyti cal procedure using many theoretical principles of various branches of Chemistry. It denotes the differential amounts of the substances found at equilibrium conditions in the organic phase and the aqueous phase for a set of conditions like Concentration, pH, Temperature etc. This Lab study aims at and involves, in addition to learning partitioning technique, Electro Chemical application the pH measurement, colorimetric measurement, computational techniques, and Calculation procedures. The partition coefficient study assumes significance, because it finds use in Pharmaceutical Chemistry for drug design, development, and delivery, Pesticide design, soil Chemistry, designing of Chemical Plants by Chemical Engineers, and also for Chemists and Scientists working on Liquid Liquid Equilibrium data. METHODS Sample preparation: Sodium salicylate solution of 0.2 gram mol per liter (mol) was taken for this study. From this stock standard solution four Test samples, named A to D, were prepared. 10 ml of 0.2 mol standard solution was pipetted into each of the four 100 ml volumetric flasks marked A to D and diluted to the mark with four buffer solutions of different pH, and mixed thoroughly. So the concentration of the resultant diluted samples was 0.02 mol each. Partitioning: Aliquots of 25 ml of the above diluted samples, 4 Nos, were taken in 4 separating funnels. Then, 25 ml of the given oil was added in each of the 4 separating funnels, marked A to D, and mixed thoroughly and gently by inverting and rotating for 10 minutes. Then the mixture in the separating funnels were allowed to settle thoroughly. After the aqueous and organic layers became clear, the aqueous layers of the four separating funnels were drained into four glass beakers marked A to D. pH measurement of aqueous phase : The pH of the four partitioned aqueous samples were measured using a pH meter. Determination of Salicylate concentration in the Aqueous phase: For determining the Salicylate concentration, Colorimetric method was adopted where the absorbance of the Iron- Salicylate complex was measured. The procedure adopted for developing the standard and test samples is given below. Preparation of Standard color Solutions: Four different Standard solutions of Sodium Salicylate, namely, 0.00125mol, 0.0025 mol, 0.00375 mol and 0.005mol were prepared along with a blank. Five test tubes were taken. The first one was marked as 1 (Blank), and the others as 2,3,4, and 5. To the blank, 1 ml of water was added, and in the others, one ml each of the prepared standards were added. Then 2 ml of the given Ferric Nitrate was added to all the test tubes. Then 5 ml of water was added into all the five test tubes. All the test tubes were shaken gently to mix the contents thoroughly and waited for some time for the complete development of the color. The five solutions represented 0.0000 mol, 0.00125mol, 0.0025 mol, and 0.00375 mol and 0.005mol Salicylic acid concentration respectively. Preparation of Calibration Graph: The Colorimeter (Spectrophotometer) was set at the wave length of 624 nm. Placed the blank in the cuvete in the colorimeter and adjusted the absorbance as zero. Then the other standard solutions were placed one by one and noted the absorbance readings. Calibration Graph was plotted, plotting concentration of salicylic acid in X axis and Absorbance at the y axis. Preparation of Test samples: 10 ml of each of the four Partitioned aqueous layers were diluted with water to 50 ml, thus making a diluted sample. From these, 1 ml solution each were placed in four test tubes, marked A, B, C, D. Then, 2 ml ferric Nitrate and 5 ml water were added in all the four test tubes and treated similar to the Standard tubes. Measurement of Salicylic acid concentration of the test samples: The absorbance of all the four test samples were measured similar to the standards. The Salicylic acid concentration of the test samples were arrived from the Calibration graph. The concentration arrived was of the diluted samples. So the concentration of the partitioned aqueous phase was multiplied 5 times to get the concentration of the salicylic acid. This gives the Cw , i.e., the concentration of the salicylic acid in the partitioned aqueous solution. Determination of CO: The Cw was subtracted from the concentration of the buffered solution, i.e., 0.02 mol, to get the CO. Determination of Hydrogen Ion concentration: From the pH of the four partitioned aqueous solutions, Hydrogen Ion concentrations were calculated. CALCULATIONS Step 1. Calculation of H+ and 1/H+ from the pH Model calculation for Experiment A; pH = 2.35. pH is the negative logarithm to base 10 of Hydrogen ion concentration. So Hydrogen ion concentration is the antilog of 2.35= 0.00447 Reciprocal of Hydrogen ion concentration = 1/H+ =1/0.00447 = 223.9 Similarly H+ and 1/H+ are calculated for other experiments and tabulated below. Experiment pH of the buffer added Resultant pH [H+] 1 / [H+] A 2.0 2.35 0.00447 223.9 B 2.8 3.22 0.000603 1660 C 3.3 3.85 0.000141 7079 D 4.0 4.02 0.0000955 10471 Step 2a. Calculation of the concentration of salicylate added to each separating funnel: The salicylic acid concentration of the sample taken = 0.2 gm. mol/Liter. 10 ml of this solution was diluted with buffer to 100 ml. So the concentration of the diluted solutions, added to each separating funnel, taken for the Partition experiment were 0.210/100 = 0.02 gm mol/L each. Step 2b. Calculation of Cw and Co: The partitioned concentration of salicylic acid in water and oil, denoted by [S (aq)] and [S (org)] are Cw and Co in the formula respectively. 25 ml of the Solution A ( 0.02 gm mol Sodium Salicylate, buffered with buffer of 2.0 pH) was partitioned with 25 ml of oil. After separation of the phases, the pH was measured in the aqueous phase. Then the aqueous phase was diluted five fold for colorimetric estimation. The absorbance obtained for experiment A was 0.065 and the corresponding concentration obtained for experiment A from the calibration graph = 0.00054. So the concentration of this undiluted Partitioned aqueous solution, [S(aq)] , is five times of the value determined calorimetrically = 0.00054x 5 = 0.0027. This is CW The concentration of salicylic acid in the organic phase is the concentration of the diluted solution taken for the Partition experiment, minus concentration of the undiluted Partitioned aqueous solution, i.e. CO = (0.02- CW) = (0.02 -0.0027) = 0.0173gm mol/L. Apparent partition coefficient P = CO / CW = 0.0173/0.0027 = 6.4 1/P = 1/6.4=0.156 CW, CO, P and 1/P for other experiments were also calculated like wise and tabulated below. The calibration graph of this study is attached separately. Exp Absorbance Salicylate Concentration in aqueous phase of the diluted aliquot, from calibration Graph Salicylate Concentration in aqueous phase the undiluted aliquot, CW i.e. ([S(aq)] ) Salicylate Concentration in Organic phase CO i.e. ([S(org)] ) = 0.02- S(aq) A 0.065 0.00054 0.0027 0.0173 B 0.138 0.00116 0.0058 0.0142 C 0.221 0.00218 0.0109 0.0091 D 0.267 0.0025 0.0125 0.0075 Calculation of P and 1/P Exp [S(aq)] i.e. CW [S(org)] i.e. CO P = (CO / CW ) 1/P A 0.0027 0.0173 6.4 0.156 B 0.0058 0.0142 2.45 0.408 C 0.0109 0.0091 0.83 1.200 D 0.0125 0.0075 0.6 1.667 Step 3. Preparation of 1/H+ vs. 1/P Graph and Calculation of P and Ka: A graph was plotted with 1/H+ in X axis and 1/P in Y axis. The slope, Ka/P was estimated from the graph = 0.0001518. The intercept, 1/P, was at 0.13, and hence, P = 1/0.13 = 7.69. Ka = (Ka/P) x P = 0.0001518 x 7.69 = 0.001167; pKa = log of 0.001167 = 2.93 DISCUSSION The study results show a definite trend of higher ingress of the organic acid, i.e., Salicylic acid, into the organic layer at a lower pH and vice versa. This is in accordance with the theory, which implies, at a lower pH, the H+ ion concentration will be higher, which will in effect enhance association of the ions, R- + H+ à ¢Ã¢â‚¬  Ã¢â‚¬â„¢ RH, to form unionized molecule that can enter the organic phase. So the unionized acid will be predominantly in the organic layer. At higher pH, the H+ ions will be low and there will be the tendency of the acid to ionize in the aqueous phase, RH à ¢Ã¢â‚¬  Ã¢â‚¬â„¢ R- + H+ , thus preventing the acid to enter the organic phase. So the ionized acid ion will be predominantly in the aqueous layer. This is established in this experiment; CO, the concentration of salicylic acid in organic phase is highest, 0.0173mol, in Experiment A, where the pH is the lowest, 2.35 ; and lowest, 0.0075 mol, in Experiment D where the pH is the highest ,4.02. Consequ ently the Apparent Partition coefficient P which is the ratio of CO / CW is highest in Experiment A and lowest in Experiment D. This shows, the pH of the solutions affect the partitioning. The accuracy of the study depends both on the accuracy of pH measurement and the measurement of absorbance. The linearity of the graph- 1/H+ vs. 1/P depends on both the measurements. But the curve was not perfectly linear as expected. The potential sources of errors . While carrying out the Chemical Analysis, one has to be aware of the potential sources of errors. Alexeyev (p 48) classifies the errors in à ¢Ã¢â€š ¬Ã…“Quantitative Analysisà ¢Ã¢â€š ¬Ã‚  as Systematic errors, random errors and mistakes. The systematic errors are: errors of the method, errors of apparatus reagents, and Operative errors. Random errors do happen during any analysis and one has to be vigilant and careful to avoid them. Mistakes are crude errors caused by careless noting of the readings in the instruments, parallax error, improper labeling of the various test samples ending with confusion while tabulating the readings etc. The possible systematic errors in this study are: errors of the method, say non uniform pH among the four test in the colorimetric estimation. Lyalikov.Y (p 40) warns, à ¢Ã¢â€š ¬Ã…“many colored compounds are sensitive to Hydrogen Ion concentrationà ¢Ã¢â€š ¬Ã‚ . à ¢Ã¢â€š ¬Ã…“Changes in pH not only affects extinction, but change spectrophotometer curve of the substance as wellà ¢Ã¢â€š ¬Ã‚ , Lyalikov.Y (41). The calibration curve obtained is not straight as expected, showing the colored complex did not obey Beer Lambert Law, which states, absorbance is proportional to molar extinction coefficient, ÃŽÂ µ, depth of the solution layer, L, and concentration, C. (A=ÃŽÂ µ x L x C). It was expected at least to be a smooth curve of a definite pattern . But the curve is not very smooth indicating some error, may be varying final pH of the colored solutions. Possible errors of apparatus: leaking separating funnel. Possible errors of reagents: accuracy of the buffers. Operative errors: Possible non uniform mixing during partitioning, incorrect and non uniform draining from pipettes. It was expected that the curves of Calibration graph and that of 1/H+ vs. 1/P to be straight lines. But they are not straight as expected. The reason may be due to some or a combination of the above cited errors. Comparison of the result with Literature : The literature value for Ka of salicylic acid as given by Harris, Daniel. C. (p 183) is Ka = 1.07 x 10 ¯3. The result obtained in this Lab study is 0.001167. This is higher than the value reported in à ¢Ã¢â€š ¬Ã…“Quantitative Chemical Analysisà ¢Ã¢â€š ¬Ã‚  by about 9% The phenomenon of partitioning: The chemical substances exhibit different solubility in different solvents. Solvents may be classified into two groups, Aqueous and Non aqueous, in other words polar and non polar. Similarly the chemicals may be classified as Hydrophilic and Hydrophobic. Hydrophobic substances can also be termed as Lipophilic. A hydrophilic substance will easily dissolve in an aqueous solvent and a hydrophobic (Lipophilic) substance will easily dissolve in non aqueous (Organic) solvent. If a substance is in contact with both the Hydrophilic and Hydrophobic Solvents, the substance will get distributed in both the solvents and the proportion of distribution will be according to the nature of the substance with respect to its Hydrophilic or hydrophobic nature and this property is termed as the Partition coefficient. Partition coefficient finds application in Pharmaceutical industry, agrochemical Industry, Pollution studies and for designing of Chemical Process by Chemical Engineers. Drugs are meant to be ingressed into human body. The partition coefficient finds use in drug design, as it is a measure of the hydrophobicity of the drug concerned. If the partition coefficient is high, it denotes high hydrophobicity ( high lipophilicity) and such a drug will easily enter the lipid regions of the organs and stay for longer time and hence may prove toxic. On the other hand a low Partition coefficient denotes a hydrophilic nature and hence the drug will stay longer in the aqueous regions blood stream and will not readily ingress into the tissues. So the absorption, excretion and penetration of the drugs into the body organs are related to the Log P value of a drug. An intermediate Partition coefficient is preferred while designing the drugs by the Pharmacologists. Earll. Mark enumerates the optimum Partition Coefficient, as Log P, for different types of drug applications. Optimum CNS penetration around Log P = 2 +/- 0.7 (Hansch) Optimum Oral absorption around Log P = 1.8 Optimum Intestinal absorption Log P =1.35 Optimum Colonic absorption Log P = 1.32 Optimum Sub lingual absorption Log P = 5.5 Optimum Percutaneous Log P = 2.6 ( low mw) The drug has to be designed accordingly for each of the application. The Formulation and dosing forms, as given by Earll. Mark: Low Log P (below 0) Injectable Medium (0-3) Oral High (3-4) Transdermal Very High (4-7) Toxic build up in fatty tissues The drug has to go into human body through different routes, say, mouth, skin, Blood etc all having different pH. So the drug has to be designed taking into consideration of the effect of pH. Mark Earll gives the pH of the various parts of the body: Stomach 2, Kidneys 4.2 (variable), Small Intestine: Fed 5.0 Fasted 6.8, Duodenal Mucus 5.5, Plasma 7.4. According to Chemie.DE information service GMBH, The Hydrophobic drugs are preferentially distributed to hydrophobic compartments such as lipid bilayers of cells while hydrophilic drugs preferentially are found in hydrophilic compartments such as blood serum. The Partition coefficient of the drug determines the Absorption. Distribution, Metabolism and excretion of the drugs. When a drug is admitted orally, it passes through the alimentary canal and has to be absorbed through the lipid layers of the epithelial membrane of the small intestine. So the drug should be sufficiently Lipophilic as to pass through the lipid layers. At the same time it should not be too lipophilic, otherwise, it will stay permanently in the epithelial calls and will not enter the blood stream for transport to the required location. Similarly the drug has to be metabolized and excreted after its function is over. This also depends on the Hydrophobicity. Similarly the other forms of drug administration are also need to be studied in this aspect. So control of the Hydrophobicity (lipophilicity) while developing the drug is important. Here is the use of Partition coefficient measurement, which is a measure of the hydrophobicity. Partition coefficients find use in designing pesticides. One has to design the insecticide in such a way it has got a very high partition coefficient , i.e. , having high hydrophobicity, rather high lipophilic tendency, so that the insecticide easily penetrates into the organisms and stay permanently causing high toxicity, thus proving its efficacy in killing the pests. But, the adverse consequence is, the pollution aspect, vide Chemie.DE information service GMBH. In partition studies, Octanol/ water system is normally used. Earll. Mark states, à ¢Ã¢â€š ¬Ã…“Octanol was chosen as a simple model of a phospholipid membrane; however it has shown serious shortcomings in predicting Blood-brain barrier or skin penetrationà ¢Ã¢â€š ¬Ã‚ . Berthold says, à ¢Ã¢â€š ¬Ã…“The most needed liquid- liquid partition coefficient is the octanol-water partition coefficient. Ko/w is accepted as a good reference parameter for solute hydrophobicity. Indeed, Ko/w can be rapidly estimated using capillary electrophoresis with a micellar or micro emulsion solution and/or RPLCà ¢Ã¢â€š ¬Ã‚  Leahy, Taylor and Wait of ICI have proposed, in addition to octanol, chloroform, cyclohexane and propylene glycol dipelargonate (PGDP) for modeling biological membranes, notes Earll. Mark. For determining the Partition Coefficient, there are many other Instrumental methods, like, HPLC. Paper Chromatography, Thin layer chromatography and Electrophoresis. Berthod. A and Carda-Broch. S. enumerates the various analytical Techniques. They are: Shake-flask method, HPLC method, Micro emulsion electro kinetic capillary electrophoresis, Counter-current chromatography (CCC), Co current CCC, Micellar electro kinetic capillary chromatography (MEKC), Micro emulsion electro kinetic capillary chromatography (MEEKC) References Alexeyev, V. (1969). Quantitative Analysis. Moscow: Mir Publishers. Berthod.A, Carda-Broch.S (2004) Determination of liquid-liquid partition coefficients by separation methods. Journal of Chromatography A, 1037 3-14 Chemie.DE information service. GMBH. Encyclopedia of Chemistry, Partition coefficient, Retrieved January 28, 2010, from http://www.chemie.de/lexikon/e/Partition_coefficient Earll, Mark. A guide to Log P and pKa measurements and their use. Retrieved January 28, 2010, from www.raell.demon.co.uk/chem/logp/logppka.htm Harris, Daniel C. Quantitative Chemical Analysis. Google Books. Lyalikov, Y. (1968). Physicochemical Analysis. Moscow: Mir Publishers.