Human resource management Essay Example | Topics and Well Written Essays - 500 words - 1

Human resource management - Essay Example However, in the modern sense, this definition does not hold valid any more. Significant competitive pressures, advancements in technology, privatizations and mergers have forced companies to continually enhance their systems and human resource skills. As a result, a â€Å"secure† job one day would not be considered secure the next day. Additionally, increased requirements of productivity and new conditions make jobs redundant while creating space for new jobs with new or enhanced skill sets. J.D. Wallance has highlighted these very factors and offered a solution that remains beyond the realm of a single job position. He has emphasized that the initiative for retraining for career protection lies with the individual and not with the company this person works for as â€Å"very few companies† focus on â€Å"necessary training† for employees. In his assessment, in the face of fast paced changes in work environments, employees have a choice between â€Å"being left behind† by stagnating their knowledge or open up new options for themselves in the job market by having more current skill sets. It is not always possible to fully predict whether a certain newly acquired skill would result in career advancement and success or not. For example, back when Internet was still not widely available in the commercial domain, fully assessing its impact on the global economy was not easy. Training in Internet technologies at that time could be termed a calculated guess which paid off in the long run. Extending the same example, anyone restricting oneself to HTML technology may have limited the options for growth. Newer technologies on the horizon, still untested and many far different from each other, could still provide a more certain chance of success compared with doing nothing. The subjectivity mentioned earlier is introduced by potential failure as in the example in the text. However, one must first analyze the

Business Inventory control Essay Example | Topics and Well Written Essays - 500 words

Business Inventory control - Essay Example At the same time, money which is tied in inventory can’t be used for other purposes (Dubrin, 2011, pg: 211). Because of these reasons, it is very important to monitor and keep a control over inventory. Inventory control takes all the more importance because of the following reasons (Jawahar – Lal, 2008, pg. 118): a. Demand fluctuations –Demand for an organization’s products vary from season to season. In times of fluctuating demands, inventory plays a very critical role. Insufficient inventory will lead to frequent stock-outs whereas a very high inventory will lead to huge costs for storage and maintenance of inventory. b. Uncertainty in receiving the item from the supplier – Often there can be uncertainties in receiving inventory items from the supplier. An organization should keep buffer against such uncertainties by keeping sufficient stocks of the inventory. Inventory is one of the most critical components of the order to cash conversion cycle. It is important for an organization to have a control over the inventory because the same affects the profitability of the firm considerably. A less amount of inventory will lead to stock-outs and customers being returned without the sales while a high amount of inventory on the other hand leads to high cost in storage and