Economy of Greece Essay Example | Topics and Well Written Essays - 3000 words

Economy of Greece - Essay Example p that occurred during the period, Greece had to witness a much sluggish economic growth, burdened with increased unemployment and worsening debt scenario (Levy Economics Institute of Bard College, 2014). Emphasizing this particular notion, the essay intends to elaborate and analyze the soundness as well as the sustainability of financial markets of Greece and the efficiency of its financial institutions with regard to interest rate policies, lending and borrowing that helped the economy regain its pace of growth. It is worth mentioning that transformation of national GDP rates mainly occur due to the variations observed in import as well as export ratings and change in other buisness policies. Similarly, prior to the year 2008, the weak economic condtions of Greece imposed strong negative impacts on the overall performance in the fiancial markets that were pertinent within the nation for several years. It will be vital to mention in this regard that the prime intent of designing effective economic policies is to achieve sustainable growth with respect to the performances of the nation’s financial markets. Irrespective of these qualities, sustsinability in the financial market of the country was affected much strongly due to limitations in its transparency when documenting financial disclosures. To be noted in this context, to gain the membership of Eurozone, Greece government was accused to have falsified its total deficit figures in the year 2000. This eventually imposed negative imp acts on the soundness along with the sustainability of its financial markets during reccession, as members states seemed reluctant and rather offended to the issue. Moreover, the situation also made Greece government to roll over debt in 2009, which certainly produced a contagion to other eurozone economies, such as Portugal, Spain and Italy (Levy Economics Institute of Bard College, 2014). The below diagrammatical representation depicts Eurozone’s real GDP per capita rate of

Trends and profitability Essay Example for Free

Trends and profitability Essay Construction has grown dramatically because of trends. It has been said By the year 2000, there were 10 times as many people on Earth as there were 300 years ago and As of October 2008, the worlds population is estimated to be about 6. 7 billion, the population of the world human population increased by 203,800 every day. Due to this reason contuctions have increased; building more homes, renewing buildings etc for the population. Clothe manufacturing has grown because of fashion, trends and profitability. So many people need clothes around the world, for this reason clothes manufacturers increase and produce more clothes they are a number of manufactures in the world which produce different style of clothing which some are fashion e. g nike and addidas for instance, nike is a globally known brand and is worn by all ages starting from children to adults this brand has become very profitable for their business. clothes manufactures grow because of the human population in the world the more people the more they sell this is why clothe manufacturing is profitable. Secondary sector-Decline Car manufacturing is declining in the UK because of technological developments and foreign imports. High tax rate is also another reason, car businesses in UK are decreasing because of various cars being imported from different countries, such as BMW, VW, Honda, Mercedes etc these cars are preferred by people living in the UK because it their high quality and economy. Other reasons is because of tax rate being too high which makes it hard to maintain a factory in the UK and car materials being too expensive to purchase and produce in this country. Some businesses in the UK buy a share of companies abroad to import cars and make profit in the UK Mini disc is a music player; you can listen to music and record sound. Mini disc manufacturers are absolute declining because of technological developments. 2-3 years ago mini disc was a fashionable item to have; everybody used them to listen to music and was very popular. Now since technology has developed audio manufactures produced new products to listen to music such as cd players, Ipods, mobile phones and MP3 some of these items are popular and known globally, a percentage of the people use these items to listen to music. Tertiary sector-Growth Online shopping is growing because of technological developments and lifestyle. Technology has developed in the last few years, online shopping has become more common and now it is easier and quicker to purchase products online, now you can buy all sorts of products on the internet clothe wears, accessories and foods, by using the internet people can shop easily. People prefer shopping on the internet rather than shopping in the markets because of long ques, spending money on travel and comfortability when shopping at home. Estate agencies are growing because of trends and profitability. The human population has risen in the last 300 years; more homes have been built for this reason. So many people intend to purchase a house, so they can have a house of their own and a number of people buy houses from agents to sell them to private individuals and make profit. The statistics say a numerous of houses are being sold every year. Tertiary sector-Decline Music retail is declining because of technological developments. 3-4 years ago in most markets they were loads of music stores available providing various kinds of music in cds, tapes, cassettes etc, now since technology has developed music stores are less of its numbers because of computers and internets; these two components are used to download and listen to music, you can listen to different type of music off the internet for free. People dont need to buy cds to listen to music anymore they can just download it off the internet from different sources for free. Analogue TV retailers are absolute declining because of technological developments and analogue TVs were very common and was used by everybody in the past. When technology developed TV manufacturers produced new high definition television with more specifications such as built in DVD players, blue ray, Radio etc. Analogues TVs are getting old and becoming unwanted products since everybody is interested in more advanced televisions. Bibliography http://en.wikipedia.org/wiki/World_population#Rate_of_increase http://www.bbc.co.uk/food/food_matters/fishfarming.shtml http://www.bbc.co.uk/food/food_matters/fishfarming.shtml www.wikipedia.org/wiki/fish_farm http://en.wikipedia.org/wiki/Organic_food

Changes On Employees Retention And Performance In Kfc

Changes On Employees Retention And Performance In Kfc Employees are considered as the best resources particularly in the service business sector. Also employees are the key stakeholders who are affected mostly due to organisational management or ownership change. Downsizing and rightsizing are some of the key issues resulting from the mergers and acquisitions globally and this affects the international policies and strategies of the multinationals. Also employees policies are mostly at stake. This issue is, therefore, being analysed to study the impacts of frequent ownership changes in KFC particularly from 1971 to 1986 on the employees retention and growth. As KFC is a global giant in fast-food / service business sector and faced frequent ownership changes in a short span of time so this case can add value to the reader of this report and other businesses to understand the relation of employees retention, performance and productivity with the leadership / ownership issues and how such situation can be dealt. Kentucky Fried Chicken (KFC) An Introduction In 1930 KFC was launched and the mission was to provide quality, service and cleanliness (QSC) to the customers and consumers. Competition level was very low in the industry particularly in the domestic market. KFC growth was good in its initial decades but with the increasing competition in the domestic market the cake size started squeezing. Popeyes, the major competitor for KFC, was born in 1972 which comes second with a share (12.7%) and KFC (55.2%) (http://lidan.y3k.org/blog/en/2004/04/kfcs-localization-strategies-in-china/). In early 1950s KFC went in the foreign market (http://www.kfc.com/about/history.asp ). 3.0 Research Question Did the past frequent ownership changes in KFC have an impact on the employees retention and performance? 4.0 Objectives The key objectives of this study are to; Assess whether frequent ownership changes affect managerial policies Study whether the frequent ownership changes have an impact on employees retention rate Evaluate the impacts of organisational ownership change son employees performance Literature Review Fast-food is considered as convenience food that can be cooked and served very quickly. On the average, 1/5th of the population of the USA (which is approximately 45 million people) eats every day in a fast-food restaurant. The term fast-food denotes speed in both food preparation and customer service, as well as speed in customer eating habits. The designation, quick service (http://www.answers.com/topic/fast-food?cat=entertainment ) has been traditionally preferred by the restaurant industry. There are certain forces which makes an industry attractive globally. As fast-food industry grew in the USA competition also became tough in the domestic market. Industry faced maturity stage (http://www.kfc.com/about/history.asp). At this stage of industry life cycle companies started entering in the foreign markets in order to survive. The doors for industrial growth and reforms had opened due to the economic revolution after World War II. Governments needed the foreign businesses to come and participate in the economic development of the country. For example China relaxed its policies regarding the western service businesses particularly agricultural modernisation plans of China needed poultry industry to grow (http://www.franchisetochina.com/h3.htm). Fast-food is considered as economical and easy to cook food. Chicken is relatively cheaper ingredient as compared to mutton and beef. Also chicken growth is economical because it grows faster and consumes fewer inputs. In many Asian and Latin Americans countries chicken is traditional food. These all factors lead to economies of scale for fast food industry particularly related with chicken meals. Consumer market has changed tremendously. Drivers like global economic reforms and higher divorce rate in the USA have led to more female workers (http://lidan.y3k.org/blog/en/2004/04/kfcs-localization-strategies-in-china/) and they need ready meal to save time. The average mother of a child under 15 spends more on fast food every year than on books, music, movies and video games combined, according to a new report (Mindlin, 2008). Health conscious consumers taste has also changed. People like to have some light meal during work hours (http://topics.nytimes.com/top/reference/timestopics/sub jects/f/fast_food_industry/index.html). These forces made the industry attractive and increased the potential and demand of fast-food in the world. Fast-food industry apparently has a localisation approach. McDonalds, Pizza Hut, KFC, etc have adapted their organisational culture and menu according to host country culture and values. Particularly KFC deployed localisation strategies in China and McDonalds removed pork from its menu in India. Figure 2 below explains that a balance is necessary to achieve a successful strategic move in the foreign market. Respond locally through learning the cultural values of host country and integrate them with the companys global core values. Global Integration Local Responsiveness Cross Boundary Learning Fast-food industry flourished in the USA during the last centaury. The chicken segment was the 5th in terms of sales in the fast-food industry and there were few competitors as compared to other segments. For instance the sandwich chain segment which included McDonalds, Burger King and Wendy had 12 competitors while KFC had only 5. KFC was the overall 6th biggest (http://lidan.net/blog/2004/04/kfcs_localization_strategies_in_china.html). In 1999 fast-food industry sales rose by 5.4% with around 0.8 million restaurants in the USA and during the same period full service restaurants grew by 7%. Gradually the due to saturation in the sector companies started exiting the industry (like Boston was acquired by McDonalds) or decided to enter in the foreign markets. Domestically the chicken market seemed saturated and the growth rate in the USA was only 1% (http://lidan.y3k.org/blog/en/2004/04/kfcs-localization-strategies-in-china/). According to available literature, the estimated annual worth of the UK fast-food market is  £7.82 billion (Keynote 2003), equal to an average spend of  £20/month/adult (Schrà ¶der and McEachern, 2005). Due to busier consumer lifestyles and dual-working families with children emphasis is increasingly being placed on quick meal solutions (Atkins and Bowler 2001). Therefore there is a market growth of 19% in fast-food since 1998 (Keynote 2003). For service business sector, particularly, manpower or employees are key resources to gain profitability (Heskett and Sasser, 1994). Take figure 3 below. Customer loyalty stimulates profit and growth in the business and customers loyalty is a direct result of the customer satisfaction. Satisfaction is largely influenced by the services value provided to the customers and consumers and this value is created by the loyal, satisfied and productive employees. However employees satisfaction is resulted primarily from the high-quality support services and policies that enable the employees to deliver results to the customers (http://hbr.org/1994/03/putting-the-service-profit-chain-to-work/ar/1). Service Value Chain This model reveals that employees are key resources particularly for the service business organisations. Streamlined organisational processes and consistency in the organisational policies help facilitate the employees in service industry (particularly) to deliver quality services to the customers and add value with efficient performance to achieve sustainable growth and profitability. However consistent policies and long term strategic planning also need stability in the organisations management (http://www.referenceforbusiness.com/management/Or-Pr/Planning.html) and author also understands that the organisational ownership change should not influence and change the organisational policies especially employees policies in the service business sector at a stroke or right from day one rather lead time should be given to the employees and other stakeholders so that everybody can adjust with the changing environment. Employees are considered as a companys live hood. If employees in an organisation are highly motivated and proactive, every effort will be done by the employees to achieve the organisational goals as well as keep track of industry performance to address any potential challenges. This two-prong approach builds an organisations stability. On the other hand with low motivation level of employees an organisation is completely vulnerable to both internal and external challenges because the employees are not going the extra mile to maintain the organisations stability and thus unstable organisation ultimately underperforms (http://www.ehow.com/how-does_5407144_employee-motivation-impact-organizational-performance_.html). In todays work environment want a relaxed and hygienic work environment and have fun with a balance between the life, work and family (http://humanresources.about.com/od/motivationrewardretention/Employee_Motivation_Recognition_Rewards_Retention.htm). Literature also reveals that key employee retention is critical to the long term health and success of any business or organistaion. Managers agree that managers ole is key to retain best employees to ensure business success (http://humanresources.about.com/od/retention/a/more_retention.htm). Important organising principles include organisational values in designing HRM polices. Compensation and developing an individual are deeply related with the satisfaction and commitment of the employees which mean particularly in the service business sector employee retention and growth with performance also depends on managements policies at strategic board level (Rosete, 2006). Employees retention in the quick service industry is key to success of the business. Quick service companies retain the most desirable employees by recognizing employees contribution to the organisation because recognition is an effective leadership tool that motivates the employees and acknowledges the efforts and creativity or willingness of employees to exert extra effort. The biggest problem for the quick service industry and which creates major drains of profit and human resources is employee turnover. According to a report the annualised turnover rate of employees was 16% in 2000. The same turnover numbers as related to the quick service industry are employees 150% and management 20%. The cost of turnover shares an average cost of replacing an employee is equal to the annual salary plus benefits. In the aftermath of industry downsizing, employee loyalty is also on decline. There is 11% decline in the workers commitment. However leadership (which means a consistent organisationa l policies with least possible changes) is key to retain and develop employees because the quick service industry has a direct correlation of sales, profits as compared to employee turnover (Forrer and Guerrieri, 2002). Organisational culture is developed by the management policies and leadership style. once established, the organisational culture is highly resistant to change. Employees tend to stick to a set way of working. However frequent management or ownership changes also change the working pattern and organisational goals. This may make the employees more resistant with decreased performance (Tom and Michael, 2000). In 1930 KFC was launched with a mission to provide quality, service and cleanliness (QSC) to the customers. KFC grew well in domestic market but later competition became hard in the local market. McDonalds, Wendy, Boston etc had entered in the market leading to shrunken market size. The major competitor for KFC, Popeyes, was born in 1972 which comes second with a share (12.7%) and KFC (55.2%) (http://lidan.y3k.org/blog/en/2004/04/kfcs-localization-strategies-in-china/). In 1950s KFC went in the foreign market (http://www.kfc.com/about/history.asp). Thus KFC earned first mover advantage and brand recognition. In 1964 it entered the UK, in 1970s Japan and Asia Pacific, in 1987 China and in 1990s South Asia (http://www.kfc.com/about/history.asp). KFC has a multi domestic strategy (http://mason.gmu.edu/~tgoddar1/m411wk7.htm) to enter the foreign markets because of cultural, economical, social, legal and political factors in the host countries and this strategy also resulted in certain benefits which include; helped KFC to react to high pressures for local responsiveness, to tailor products to meet customer needs in each country of operation, to create wholly owned foreign divisions and to help core competencies transfer from home country. In addition to this; access to resources and skills in the host country, differentiation advantage through combined core competences, becoming the dominant competitor, increased profits and reduced bureaucratic costs were some of the factors to adopt multi domestic strategy. Market Entry Strategies Few Examples KFCs international composition provides a mix of foreign market entry strategies (please refer to figure 4). KFC enters the foreign / international market either through joint venture or company-owned foreign subsidiary. However mostly KFC expands its global franchise network. This is also important to know that organisational culture of KFC is mostly decentralised at operational level because franchisees are business partner or allies of KFC and the KFCs employees policies are implemented through franchising channel. It is also important here to note that organisational culture must be matched or aligned with the national culture or domestic culture. KFC is a global organisation working in many countries around the globe. KFC core organisational culture must be adapted in the host culture so that employees in the host country and customers in the host country can adopt and adapt KFCs themes and menu easily and there should be no communication gaps. This also helps facilitate the emp loyees to adjust with the organisational culture and deliver quality services to the customers. A high demand for services has been created due to the socioeconomic development in 1980s and 1990s (Davis, 2000). This reflects the potential for service businesses growth like the fast-food businesses. In recognition of the distinct nature of transitional markets (Arnold and Quelch 1998), many foreign companies have sought other ways to compete with the domestic or local offerings by clothing their brands in local costumes (Belk, 2000). According to Zhou and Hui (2003) localisation of language, product characteristics, advertising content and even product meanings is a common way accepted by the multinationals in most transitional economies. Hofstede (1980) states that culture is a complex and multifaceted construct. One of the basic dimensions of the culture is individualism collectivism. Individualistic culture stresses on independence, freedom, high levels of competition, achievement and pleasure. However the collectivistic culture has a tendency to embrace the interdependency, family security, social hierarchies, low level of the competition and cooperation (Triandis, 1993). Also advertising is a type of shared or social communication. It is reflective and indicates or specifies cultural values and norms (http://lidan.y3k.org/blog/en/2004/04/kfcs-localization-strategies-in-china/). As cultural differences are reflected by the advertising and advertising appeals which are specific approaches or ways advertisers use to communicate the customers needs and wants (Bovee and Arens, 1989), should manifest such differences across the countries. Collectivism involves the subordination of personal interests to the goals of the group and stresses on sharing, cooperation and coordination and a group welfare concern (Zhang and Neelankavil, 1997). Sometimes minor differences in the culture put major impacts on the strategies of the companies which may affect positively or negatively the employees and the customers. Some cultures are very open to franchising especially for western businesses. An example is the UK and Europe. There are big franchising association or bodies in such countries for example British Franchise Association promoting and accrediting excellence in franchising and European Franchise Federation whose aims and objectives include promotion of franchising in European countries, protecting the franchise industry with Code of Ethics, encouraging and developing franchising in European countries, requesting the interest of franchising to international organisations, promoting European franchising worldwide, serving the members along with the exchange of documentation and information between the national association or federations in Europe and in the world (http://www.thebfa.org/index.asp). Such big platforms secure the franchisors even during the recession or economic downturn or situations like credit crunch periods and provide security to foreign businesses in the host countries to come and invest in a relatively risk free environment. Also franchising is cost effective, time saving, secure and easy to learn way to enter a new country. This reflects that a right foreign market entry strategy may help reduce the impacts of recession or economic downturns (if any) but also the cultural implications need to be integrated in the organisational employees strategies so that talent retention and development can be facilitated. But it is also important to note from the following paragraphs that organisational cultures are dependent on the leadership (owners) policies and practices and a consistent policy should be there to gain long lasting profitability and employees performance with minimum organisational changes. Literature reveals that KFC has faced a lot of managerial and organisational changes since KFCs inception. The changes occurred mostly due to the changes in the ownership (or better to say in the leadership). Colonel Sanders first sold KFC in 1964 to a small group of investors that eventually took KFC public. Heublein, Inc, purchased KFC in early seventies (in 1971) and was highly involved in day to day operations. R. J. Reynolds then acquired Heublein in 1982. R. J. Reynolds had a more laid back approach and allowed business as usual at KFC. Finally in 1986, KFC was acquired by PepsiCo, which was trying to grow the quick service restaurant segment. PepsiCo, which presently runs Taco Bell, Pizza Hut and KFC, has a management style and corporate culture significantly different from that of KFC. PepsiCo has a consumer product orientation. In 1992, KFC did another reorganisation in the middle management ranks. KFC eliminated 250 out of the 1500 management positions at corporate and gave the responsibilities restaurant franchises and marketing managers (http://kelley_keith.tripod.com/mgmnt5313.html). KFC history reveals that Heublein favoured a franchising strategy but had a low RD budgets, Reynolds strategy was to leave the managers with freedom to run units with managerial expertise and PepsiCo though provided heavy financial backing to KFC but PepsiCos hard employees policies resulted in dissatisfaction, high turnover and decreased loyalty of the employees. A service business cannot afford employees dissatisfaction (Irfan, 2008 and http://lidan.y3k.org/blog/en/2004/04/kfcs-localization-strategies-in-china/ http://www.reocities.com/TimesSquare/1848/kfc.html). Literature review reveals that the weaknesses of KFC have been determined as confusing corporate direction due to selling and reselling of KFC. KFC was sold three times between 1971 and 1986. However the organisational culture of KFC and PepsiCo are conflicting with each other. KFC was based on a laid back approach while PepsiCo culture has a fast track attitude. Since the acquisition KFC employees lacked the job security that KFC employees enjoyed before. Also top management turnovers like top managers of the KFC were replaced by the PepsiCos own management have changed the organisational culture and leadership style which is creating job insecurity in the organisation (http://ivythesis.typepad.com/term_paper_topics/2009/09/kentucky-fried-chicken-and-the-global-fast-food-industry.html). In conclusion from the information above it can be revealed that mergers and acquisitions are good for business growth but when ownership changes the resulting changes in the polices and culture of the organisation not only threaten the employees but also develop a resistant to change. This sometimes leads to employees turnover or decreased performance. It does not mean that organisational change is not healthy for the organisational growth but there should be a reasonable frequency and in the organisational change pattern and particularly in the service business sector where employees are key resources to deliver value to the customers because losing skilled staff due to frequent change in the organisational policies (and sometimes change in organisational culture to which the skilled staff has stuck) may result in losing the right employees and business profitability and performance may decline. To conclude this further following methodology has been suggested in the literature to analyse such cases; A case study has been suggested as a useful approach when the area of research is relatively unknown (Marschan-Piekkari and Welch, 2004). It is a more flexible approach suited to different types of research questions and is most frequently used approach in business studies particularly international business. It has been suggested that case studies involve data collection through multiple primary and/or secondary sources such as verbal reports, personal interviews, observation and written reports (Marschan-Piekkari and Welch, 2004). Accordingly, the secondary research in this case study will involve written reports, journal articles, online information etc. 6.0 Methodology To conclude this further following methodology has been suggested in the literature to analyse such cases; A case study has been suggested as a useful approach when the area of research is relatively unknown (Marschan-Piekkari and Welch, 2004). It is a more flexible approach suited to different types of research questions and is most frequently used approach in business studies particularly international business. It has been suggested that case studies involve data collection through multiple primary and/or secondary sources such as verbal reports, personal interviews, observation and written reports (Marschan-Piekkari and Welch, 2004). Accordingly, the secondary research in this case study will involve written reports, journal articles, online information etc. The study will be an analytical case study involving secondary research. A number of business models and frameworks like service value chain, Bartlett and Ghoshal and Total Global Strategy George S. Yip will be used to analyse the situation at macro and micro levels. To meet the criteria for analytical approach (Dubey, 2009) the facts of information already available will be used and analysis of these facts will be done to make a critical evaluation of the material. It is important that there must be sufficient information to characterise, analyse and explain the unique features of the case, as well as to point out the characteristics and properties that are common to several cases or case studies. Finally, this approach relies on the integrative powers of research: the ability to study an object with many dimensions and then to draw the various elements together in a cohesive interpretation (Marschan-Piekkari and Welch, 2004). So where the area of research is relatively not known a more flexible approach which can suit the different types of research questions will be a case study approach. Also through secondary research the already available information and data is used and analysed to answer the research question but important issue is to understand that the data and information should be sufficient enough to analyse the unique features of the issue or case. 7.0 Limitations There are following limitations in this case study; Being a case study it will be focused on one company only and can give no additional analyses for the competitors business situations. Primary research is not part of the methodology in this case study. Primary research can add value by validating the past or historical information (gathered by the secondary research) under current business circumstances.

College Admissions Essay: A Higher Understanding of Science :: College Admissions Essays

Achieving a Higher Understanding of Science    Surrounded by thousands of stars, complete silence, and spectacular mountains, I stood atop the Colorado Mountain Peak awestruck by nature's beauty. Immediately, I realized that I must dedicate my life to understanding the causes of the universe's beauty. In addition, the hike taught me several valuable lessons that will allow me to increase my understanding through scientific research.    Although the first few miles of the hike up the mountain did not offer fantastic views, the vistas became spectacular once I climbed above tree line. Immediately, I sensed that understanding the natural world parallels climbing a mountain. To reach my goal of total comprehension of natural phenomena, I realized that I must begin with knowledge that may be uninteresting by itself. However, this knowledge will form the foundation of an accurate view of the universe. Much like every step while hiking leads the hiker nearer the mountain peak, all knowledge leads the scientist nearer total understanding.    Above tree line, the barrenness and silence of the hike taught me that individuals must have their own direction. All hikers know that they must carry complete maps to reach their destinations; they do not allow others to hold their maps for them. Similarly, surrounded only by mountaintops, sky, and silence, I recognized the need to remain individually focused on my life's goal of understanding the physical universe.    At the summit, the view of the surrounding mountain range is spectacular. The panorama offers a view of hills and smaller mountains. Some people during their lives climb many small hills. However, to have the most accurate view of the world, I must be dedicated to climbing the biggest mountains I can find. Too often people simply hike across a flat valley without ascending because they content themselves with the scenery. The mountain showed me that I cannot content myself with the scenery. When night fell upon the summit, I stared at the slowly appearing stars until they completely filled the night sky. Despite the windy conditions and below freezing temperatures, I could not tear myself away from the awe-inspiring beauty of the cosmos. Similarly, despite the frustration and difficulties inherent in scientific study, I cannot retreat from my goal of universal understanding.

Integrated HR Solution with Payroll Software Leave

Having a proper HR solution is a key task for the HR executives to manage their employees. The primary job of HR manager is to manage employee's daily attendance, i. e. the employee's every day Time IN & Time OUT. There are various ways for it. Traditionally the companies using manual punch card machine, later proximity card system / barcode card system was in place. But still there was a problem of buddy punching (making proxy attendance for other employees). To address the issue Biometric Fingerprint system has introduced which is very fast / accurate & efficient. Once employee's time in  & out timing captured by any type of machine then it has to be linked to a Time Attendance Software to generate the useful attendance reports. Those calculated attendance details needs to be linked to payroll software for the employee salary calculation. In addition to that there is a need to maintain employee leaves like annual leave, medical leave, unpaid leave, etc†¦ If a HR manager has all the above solutions with different vendors / different platform then it will be very difficult to maintain and operate. There will be lot of hiccups to integrate the different software's and more importantly being the database is not integrated the newly join / resign employee details need to be entered multiple times in different software’s. So it very efficient and cost effective to have an integrated HR solution which comprises of fingerprint time recorders (preferably), time attendance, leave, Payroll & HR software's. Fingerprint Time Recorder: It is very efficient to have a fingerprint time recorders to track the employees attendance instead of having manual punch card. The biggest advantage of using the fingerprint system is the employees can't do the buddy punching (making proxy attendance for other employees). Usually in most of the fingerprint time recorder, Up to 3 fingers per employee can be registered. While doing attendance the employee can use any one of the finger to do clocking. The purpose of registering 3 fingerprints is if any one finger has problem due to injured / cut / dirty then the employee can use alternative finger. So it is better to have a fingerprint time recorder with higher capacity. Usually the time recorder will have the capacity of 500 / 3000 / 5000 fingerprint templates. It takes about one second to verify the employee finger, once verified the employee id, Date & time will be recorder into the device internal memory. Also it is good to have a device which can store more records. In general most of the fingerprint time recorder can store 20,000 / 30,000 / 50,000 records. Once the records reach the limit the new record will automatically overwrite the very first record. Those records can be downloaded to the Time Attendance Software via built-in Network card or via Thumb Drive. Time Attendance Software: Information from fingerprint time recorder can be transferred to the Time Attendance Software which will calculate the useful information like Lateness, Overtime, allowances, etc†¦ A good time attendance software should have the option for different shift patterns, Supports unlimited rotation duty roster, Auto-shift feature (System auto-assign working hours group based on IN time), Flexible working hours feature, Scheduling working hour's group feature (No fixed working pattern) Companies are paying daily allowances like shift allowance, meal allowance, transport allowance to the employees based on some conditions. For an example a company may like to pay $5 for night shift workers or a company may like to pay $2 who is working more than 5 hours of overtime. So the time attendance software should have all the above features. Good software should come with nicely designed useful reports like Daily attendance report, Individual attendance report, consolidated reports which consolidates the late comers, Early Leavers, Absents & missed out punching, Lateness summary report and Working hour's summary report. Payroll Software:  Payroll software is the one which computes the employee salaries. A well written payroll software should have the below options. The employee may be paid by hourly rate / daily rate/ monthly fixed basis. Other than the employee basic salary, the employee's overtime, daily allowances needs to be linked from the time attendance software. The employee may have some additions or deductions in every month salary like advance payment, medical claim, special allowance, etc†¦ And the employee unpaid leave, lateness & early leaving needs to be deducted from his salary. Different countries have their own computation for taxation & provident funds. So the payroll system should comply with the local government regulation for salary calculation. Finally the payroll should able to generate a pay-slip for individual employee with all his salary details which can be printed in an A4 size paper or sealed pay-slip paper. And payroll software must have useful reports like, Monthly Salary Summary Report, Overtime Payment Report, Taxation Report, Yearly Summary Report, and Monthly Reconciliation Report. Leave Module: A leave module either can be built in with the payroll system or it can be a separate Electronic Leave Application Portal. Leave Module built-in with payroll system: The HR Executive needs to update the employees Annual Leave, Medical Leave, Unpaid Leave, Maternity Leave, etc in to the system manually. Electronic Leave Module: The employee can apply their leaves electronically online via web browser. Those applied leaves can be approved by respective approving officers via online. This is paperless, convenient fast & easy. A good leave system should have the option to set Leave Eligibility for different group of employees and the Annual leave & Medical Leave earned until today should be prorated automatically. There must be an option to carry forward the balance annual leave to the next year. And the leave module should have the useful reports like Leave History & Leave consolidate report to view all kind of leaves taken.

Laziness caused by Technology

More and more in this time, all I can see is people being lazy. Children do not want to play outside. Instead of playing outside children sit inside all day playing on their videogame systems, tablets, computers, and phones. Adults are just as bad sitting around glued to whatever tech toy they have. Technology is making people lazy. People hardly have to leave their homes to do anything anymore. Technology has made it so easy for people to get virtually anything and everything they could possibly want or need at the touch of a few buttons. No longer do people have to walk around a store and haul their own things in and out of their cars. All people have to do is go online and those things will be delivered right to their front door. When people do leave their homes to go to work, a lot of them are going to jobs where they sit behind computers all day. Even students staring in elementary school do a lot of school work, tests, and school projects behind a computer or tablet now. Many college students are picking careers to do with technology and can even get their education all online. Don’t get me wrong, technology is not all bad. Technology has helped our culture in the fields of medicine and science greatly, but our society is letting technology take over. People are not being active enough anymore. Laziness is spreading like a disease. Being so lazy and depending so much on technology is causing health issues of its own. Technology is ok in moderation. People need to stop letting technology take over their lives. Sitting at home in their pajamas ordering what they want and need instead of getting out and being active is just plain lazy. With everything so readily available with a few clicks of a button technology is winning. Technology is definitely making people lazy.