Innovation Assignment Example | Topics and Well Written Essays - 1500 words

Innovation - Assignment Example Consequently, innovation was a prerogative of commercial organizations that used their employee talent to bring out new products and ideas that they could market for profit (Pearce, 2012). In this document, a review of the literature on open innovation is presented followed by experience of the author of this paper, who participated in a project at openIDEO, an open innovation platform. The term Open Innovation was first introduced by Chesbrough who indicated that open innovation "is a paradigm shift in approach of organizations that need to consider external and internal ideas along with external and internal path to develop a collaborative approach and advance knowledge in the field by introducing practical and innovative approaches to problem solving" (Chesbrough, 2003, p. 17). Open innovation creates a mutually beneficial relationship since both the firm that sponsors open innovation projects and individuals or smaller firms that participate, gain through generation of designs, and present ideas that meet the requirements (Chesbrough, and Eichenholz, 2013). Open innovation is different from outsourcing where existing products are given out on contractual manufacturing and vendors must produce the components as per specifications (Terwiesch, 2008). In open innovation forum, the administrator presents a problem and participants must offer their answers. A diversi ty of opinions is needed and the firm may examine several alternatives from among the solutions offered, pick up an idea that appears most suitable, and place the selected idea for refinement (Levine and Prietula, 2013). While open innovation is a good concept, certain problems are apparent. Some of the main problems are legal issues and the lack of privacy and confidentiality in the forum. Another problem is that requirements for the project and details of the selected design are available for even rival firms.

The Ritz Hotel Essay Example for Free

The Ritz Hotel Essay Despite the fact that rooms at the Ritz Hotel do not cost 2,000 Euros, employees of the Ritz are authorized to compensate guests up to 2,000 Euros for any problems they may have experienced.   Why does the Ritz have this policy?   There are primarily three factors that should be explored: one, the reputation of the Ritz, two, the costs beside room rate, and three, and the hidden costs.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   First, the Ritz is known the world-over for high class service.   It is the place to have your social event.    The name has carried great weight for many years now, and the reputation of the Ritz is not something the hotel owners would like to have tarnished.   Established in 1906, this year marks the 100 year celebration of this world-class hotel.   As part of the celebration, and as an example of the level of service the Ritz offers its clients, the Centennial Celebration includes pick-up from the Airport in the new Rolls Royce, accommodations for two nights, a bottle of champagne, Theater Tickets, Dinner, Salon Treatments, and complimentary membership to the Ritz Club for the length of the stay. The Ritz is â€Å"puttin’ on the Ritz’ for its 100 year celebration.   The reputation of the Ritz creates its value in the marketplace.   As a place for high society, elegance, and comfort, it has a name and reputation to live up to.   One of the primary ways reputations are maintained is through word-of-mouth.   Considering the fact that if a guest has a negative experience, they are ten times more likely to talk about it, it is therefore in the Ritz’s best interests to maintain a positive word-of-mouth cycle.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Second, additional costs which guests incur aside from the room rate can cause management to raise the level of compensation higher than the rate of the room.     For example, there may be phone charges, room service charges, movie charges, wet bar charges, laundry or dry-cleaning, and the list goes on.   These are only the costs the guest may incur inside the hotel.   Additionally, there is the cost of travel and transportation.  Ã‚   As a world-class hotel, the Ritz recognizes these as valid reimbursable expenses.   If the Ritz is at fault for some inconvenience to the customer, the customer will also incur additional expenses remedying the problem.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Finally, the hidden costs to the Ritz.   The first has already been mentioned – the word-of-mouth advertising.   It is essential to the Ritz to maintain positive word-of-mouth advertising.  Ã‚   After a customer leaves the Ritz, it is impossible to communicate with them further, or to make amends.   One of the worst things that can happen for the Ritz is an unhappy customer leaving.   Therefore, the service staff at the Ritz has the permission to compensate the guests up to 2,000 Euros. The Ritz must review this policy and the history of compensations to make sure the policy is not being abused.   Abuse of the policy is a hidden cost to the Ritz itself.   However, with proper oversight, this cost can be minimal.   One more factor to take into consideration is the costs of damage to a customer’s personal belongings.   If a designer suit is taken in for dry-cleaning and is destroyed in the process, it is possible that the value of the suit could actually exceed the 2,000 Euros authorized for compensation.   Based on the level of the guests, it is quite likely that their personal items may be of high value.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Finally, the management of the Ritz must weigh its risks.   How likely is it that compensation up to 2,000 Euros would be provided for a guest?   Based on the high level of service provided at the Ritz, including the level of training received b each employee, it is highly unlikely that a guest would have such a negative experience that only 2,000 Euros would satisfy them.  Ã‚   Therefore, the Ritz has even created a buffer zone for its employees. Not only are they authorized to meet the guests expectations, despite problems, they can even exceed the guests expectations.   If the guest found a mouse in the bathroom, rather than simply refunding the room rental rate, the employee can also give the customer 500 Euro for emotional duress.   Ultimately, it is in the Ritz’s best interests to satisfy their guests to the best of their ability.   If monetary compensation can help them achieve this goal, they should use this tool as long as it works for them.

Impact of Informality on Consumption

Impact of Informality on Consumption Abstract By using a simple model, it will be analyzed the impact that informality has in the amount of consumption of the workers during their life cycle. This paper deals with the interconnections of under-reported earnings, savings and old-age pension. The workers sampled for this analys have been divided into three groups: 1. Low income emloyees, 2. Higher income employees who declare all incomes, 3. Employees who under-report their incomes .In this paper the analysis is based on two pension models: the model that calculates pension in conformity with the incomes (proportional model) and the basic model, whose objective is poverty reduction for the â€Å"third age†. The major result is as follows: Given the fact that the basic pension system favors employees that under-report their incomes and the fact that the impact of informality is greater in the basic system than in the propotional pension system, the application of basic pension system in the Albanian might be problematic. KEY WORDS: informality, pensions, proportional model, basic model, Albania Introduction There are many examples around the world, how different countries have adapted their pension system in comformity with the important changes they are experiencing. However what works well in a country does not necessarly work well in an other country. Pension reforms should be in accordance with the economic, political and social characteristics of the country. The issue referring to the appropriate scheme to be implemented in Albania has been the concern of the governments. . In such circumstances, when the â€Å"Pay-As-You-Go† system is failing every day, the problem of a reform seems as urgent as it is necessary. Pension systems have been one of the serious issues, which all Albanian governments have been facing. They have been a constant source of criticism from international bodies and are one of the schemes that aggravate the state budget a lot, therefor impeding the development of the Albanian economy (Treichel, 2001) As a result of a misconception of this scheme since the beginning, the current system has generated high evasion and informality, distorting effects on the labor market and not providing a long term solution for the pensions. The main problem has to do with the amount of contributions and incentives to pay these contributions. Using a simple model, it will be given an idea about the impact that informality has in the amount of the workers consumption during their life cycle. For this reason two pension models have been analyzed: the model that calculates pension in conformity with the incomes and the basic model, whose objective is poverty reduction for the â€Å"third age†. Augusztinovics, (2005) concludes that increasingly social tensions can be reduced by e replacing the pension system related to incomes with a basic pension system. Given that this topic presents a great complexity and at the same time is so current and present in our daily lives, it would be interesting to treat it in order to provide an alternative for solving such a so sharp problem. 2Proportional pensions In recent years, the Hungarian Economists of the Academy of Sciences have conducted a series of empirical studies regarding pension systems, especially in the countries of Central and Eastern Europe. The assumptions used in their model, have a lot in common with the Albanian reality. According to (Simonovits, 2008), the assumptions of the model are: †¢ The population is taken unchanged †¢ The young population is active in the labor market †¢ Every elder person has retired Consequently, R is the number an employee working years and S, the years of an individuals’ retirement. Dependency rate, expressed as the ratio of pension years to those of work, is marked with ÃŽ ¼ = S / R. Although, the difference between the contribution rate of employers and employees is clear in the current pension system clear, in this analysis, this difference is not taken into account. The total salary, which represents the total cost of the work, is marked by w. Individual contribution, paid to the pension system, is calculated at the rate t, of the total reported salary. Health insurance contributions and income tax impacts have been left out of the model. To be closer to the Albanian reality, it is assumed that the rate of employed persons who declare their exact income, are not directly related to the pension system. The system is suposed in equilibrium; the revenues of the system are equal to its expenditures. The scale of the informal economy in Albania is one of the highest in the Central and Eastern Europe countries. The informal economy is assumed at 34 percent according to (Schneider, Buehn, Montenegro, 2010). For this reason, it is foreseen to classify the employees in three different groups: 1. Low income emloyees, who are marked with (U) It is presumed, that employees who do not fully declare their income are part of the second group. For this group, it is made the following subdivision: 2. Higher income employees who declare all incomes, who are marked with (P) 3. Higher income employees who under-report their incomes, who are marked with (N) The frequency of these employees is: Æ’U, Æ’P and Æ’N. These frequencies are positive numbers, the amount of which shall be equal to 1. Considering all the employment as a unit, the number of employees is marked by 1. In special cases it may occur that one of the frequencies is equal to 0, as it is the case of economies where informality is in very low levels near 0. In this model, it is assumed that pensioners receive their pensions, in proportion to the income declared, which are marked with *, (t*, is the rate of the contribution to the system). The current income of workers according to salary levels, are: wP = wN and wU. While the benefits from the system during the retirement period, are: bP* and bN* =bU*. Based on the above assumptions, the benefits are commensurate with the income declared; bP* = ÃŽ ²* wP and bN* = ÃŽ ²* wU, where ÃŽ ²* is the replacement rate of the pension system related to income (proportional). As it is observedou, wU represents the minimum wage and any potential changes will affect the overall level of formal employment. This problem will not be considered, because of the complexity that it presents. In the following equations are presented: total real income (WP) and the total income declared (WU). WP = (Æ’P + Æ’N)wP + Æ’UwU and WU = Æ’PwP + (Æ’N+ Æ’U)wU Since the system is in equilibrium, then, t * WU = ÃŽ ¼ÃŽ ² * WU. Consequently, subsequent connection between the contribution fee (t *) and the replacement ratio is: ÃŽ ²* : t* =  µÃŽ ²* It is assumed that those who declare all the incomes do not save for theretirement period, as they believe that the replacement ratio is sufficiently high. In contrast, people who do not report their total incomes, are supposed to save for the retirement, that hidden amounts. In some cases these rates may be even lower than the rate of social security system, which would make them save for their whole lifetime. So the saving rate is marked with ÏÆ', which is: 0 and the annual savings are: ÏÆ'(wP wU). It is assume that the hidden savings during the R years of work are used for consumption Ï (wP wU) during the S retirement years. For comparative reasons the level of consumption is analyzed during two stages of life (work and pension). This analysis will provide a more complete picture throughout the whole life cycle, of the consumption during the work period, which is labeled â€Å"youth consumption† and the consumption during retirement, which is labeled â€Å"elderly consumption†. Based on the above equations, â€Å"youth consumption† would be: cP* = (1 – t*)wP ; cN* = (1 – t*)wU + (1 – ÏÆ')(wP – wU) ; cU* = (1 – t*)wU While the â€Å"elderly consumption† would be dP* = bP* ; dN* = bU* + Ï (wP – wU) ; dU* = bU* Basic pension system Some researchers (Augusztinovics Kà ¶llÅ‘, 2008), (Kollo, 2008), (Kertesi G., Bonn 2003) consider the replacement of the proportional pension system with a basic pension system as a way to reduce the increasing social tensions. Since the goal of this system is the reduction of poverty during the â€Å"third age†, it is assumed that it is given a definit benefit b0 which is funded by a consumption tax rate à ®. Each individual pays his/her taxes proportionally after spending money for consumption and for mathematical simplicity it is assumed that the basic benefits are net. Pensions obtained from this system are: One of the innovations that this model offers is the assumption which does not take into account the possibility of consumption tax evasion, in contrast to the case of non-payment of pension contributions. The implementation of this model faces with some difficulties in our country, such as problems with the informal economy (tax evasion) and the indirectly calculation method of VAT. In the model analyzed there is no total savings and total consumption is equal to total income. Based on the equation that shows the dependency ratio, the tax equation is as follows: The decreasing contributions, tw finance only the reduced pensions of employees. , pra For comparative reasons, it is assumed that the total costs of pensions are invariable. This assumption is clearly expressed in the following equation: By substituting à ® from the previous equation to the new equation the following formula is obtained: Consequently, the reduced contributions will be as follows: In order for the contribution to be a positive rate, it should be assumed that: . So, The â€Å"youth consumption† is: ; ; While the â€Å"elderly consumption† is: ; ; As it can be noticed from the above equations, consumption and benefits of employees who declare all their incomes has decreased, while consumption and benefit of employees with low incomes and workers that under-report their incomes have increased in comparison with the proportional pension system. 4The Albanian Case For study reasons it is worth presenting a numerical simulation. In the above mentioned models are used features of Albanian pension system. Based on the Albanian legislation for social security, the working years that an employee must have to obtain a retirement pension, are 35. Consequently, R = 35 years. According to official data from the World Bank (2012), the average of life expectancy for the Albanian population is 77 years. By subtracting from this age the average age of the entry into the labor market, which is 22 years (qualified employees, as well as unqualified have been considered as), it is concluded that the average number of years spent in retirement for every Albanian, is S = 20 years. Dependency rate, which represents the ratio of average years spent in retirement, with the average years spent in work, is ÃŽ ¼ = S / R = 20/35 = 0.57. The calculation of incomes is attained based on the data on employment and average salary for each sector of the economy. It is assumed that: †¢ All employees of public and private sector and non-agricultural privat sector are classified as employees with high average incomes. †¢ For purposes of analysis, the informal economy is assumed at 34 percent according to (Schneider, Buehn, Montenegro, 2010). So, 34 percent of private sector employees do not declare their real incomes. †¢ Employees of the agricultural sector are assumed as employees with low income. Based on the above assumptions and on the (INSTAT, 2014) data the distribution of workers by sector is: Æ’U = 0.49 , Æ’P = 0.39 , Æ’N = 0.12 According to INSTAT data (2013), the average salary in the public sector is 52,150 ALL (Albanian lek), the average of high salary in the private sector is 97,000 ALL and in the agriculture sector it is assumed that the salary is equal to the minimum wage 22,000 ALL. Based on these data, the income distribution is: wP = 4.4 dhe wU = 1 While the average stated salary is: WU = 2.326 So, the average salary declared, based on the above analysis, is: 2.326 x 22’000 = 51’172 ALL. This indicator has a outcome close to the average salary of 52’150 ALL declared in Albania. It is assumed that the amount of benefit in the basic system is equal to half of the benefit of the pension system related directly to income. b0 = tWU/ 2 µ Also, it is assumed that the worker that does not declare his/her real income, saves half of the money, ÏÆ' = t/2, which, Social Security, would make the employee save from the income that are not declared. Table no 1: The Key Indicators Source: Author Calculations 4.1Basic Model The distribution as per basic assumption is: Æ’P = 0.39, Æ’N = 0.12, Æ’U = 0.49 In the table below have been presented the characteristics of both pension systems that are being analyzed Tabel no 2: Characteristics of pension systems Source: Author Calculations The above characteristics are calculated in the case of Albania, where the contribution rate paid to the social security, is 21.6 percent for the proportional pension system. As it can be observed from the above data, when moving from a proportional pension system to the basic pension system, the contribution rate paid to the pension system is halved. A consumption tax at the rate of 9.2 percent is added to the basic pension system in contrast to the proportional pension system. Refering to the calculations, there is a significant difference regarding the replacement ratio between the two pension systems. In the proportional pension system the value of this ratio is 38 percent, which is reduced to 18.9 percent in the basic pension system. We see the impact of two pension systems to the amount of consumption for the three groups taken into consideration. Table no 3. Consumption amount Source: Author Calculations By analyzing the above results, it can be observed that: †¢ The â€Å"youth consumption† is the highest in three groups on the basic pension system compared with the proportional pension system. †¢ As expected, the â€Å"elderly consumption† with low income at basic pension system is higher than the consumption of the other system. Characteristic of the basic pension system is the support for people with low incomes. †¢ The â€Å"elderly consumption† with high incomes at the proportional pension system compared with the consumption at the basic pension system is about 50 percent higher. †¢ A weakness in the basic pension system is that it favors the group of pensioners who under-report their incomes. 4.2Full reporting of incomes The analys of the â€Å"ideal case† where all employees report all their income, although it seems utopian, it is worthwhile analyzing. Division of employees according to the declaration is: Æ’P = 0.51; Æ’N = 0; Æ’U = 0.49 Table no 4. Characteristics of pension systems Source: Author Calculations The rate of contribution to the proportional pension system is 21.6 per cent, as it was in the case of the basic model. As observed from the above table, the characteristics of the basic pension system, has changed in the â€Å"ideal case† compared to the basic model. The rate of contribution in the â€Å"ideal case† decreased at 10.7 percent compared with 10.8 percent in the basic model. While the tax rate has increased to 11 percent from 9.2 percent in the basic model. Changes in the ratio of replacement are negligible. We see the impact that the two pension systems have to the consumption quantity of the three groups who have been analyzed. Table no 5. Consumption amount Source: Author Calculations By analyzing the results above, we can say that: †¢ The â€Å"youth consumption† and the â€Å"elderly consumption† have not changed for the proportional pension system for both cases. †¢ Into the basic pension system there is a reduction in the consumption quantity at the young age and a very small increase in the consumption during the â€Å"third age†. †¢ So, the basic pension system is more sensitive toward informal economy than the other pension system that is taken into consideration. 5Conlusions The elementary model.has already been analized. Finally, by analyzing the cases discussed above, it can be concluded that: The consumption and benefits of employees who report all their incomes has decreased in the basic pension system compared to the proportional pensions system. The consumption and benefits of employees with low incomes and those of the employees who under-report their incomes increased in the basic pension system compared to the proportional pensions system. The basic pension system favors employees that under-report their incomes. The impact of informality is greater in the basic pension system than in the proportional pension system. So, in the Albanian reality the application of basic pension system might be problematic.

Free Essays - A Raisin in the Sun :: Raisin Sun essays

Racism is a major issue that has affected the United States since its discovery.   Racism is the hatred by a person of one race pointed at a person of another race. The United States has grown up to improve as a whole but this process is a long way away from completion.   Some citizens still believe that African-Americans are inferior to Caucasians and that they should be slaves.   In the 1950s, whites and blacks were segregated to a point that they could not go to the same schools or even use the same bathrooms.   Chief Justice Earl Warren abolished the segregation of schools in May of 1954.   The desegregation of schools has helped people of all races grow up together in a non-hostile environment where they can develop relationships with people of other races.   Throughout the play A Raisin in the Sun, Lorraine Hansberry criticizes the racial and discriminatory climate of America in the 1950s and early 60s.   It becomes obvious to the reader that the racial tension Hansberry experienced growing up reflected on the way her literature is written.   Moss and Wilson state that, â€Å"Lorraine Hansberry’s South Side childhood, particularly her father’s battle to move into a white neighborhood, provided the background for the events in the play† (314).   Hansberry experienced many of the situations she placed the Younger family at first hand.   Hansberry’s father, Carl Hansberry, was put in a similar circumstance when he moved his family into a predominately white community at the opposition of the white neighbors.   He eventually won a civil rights case on discrimination.   Speaking of the United States, Adler states, â€Å"A Raisin in the Sun is a moving drama about securing one’s dignity within a system that discriminates against, even enslaves, its racial minorities† (824).   Hansberry overcame many racial barriers to become one of the best authors in the world.   Walter Lee Younger is an intense man in his middle thirties who works as a chauffeur, but his dream is to one day open up a liquor store.   Walter has a very bad temper and tends to say things he doesn’t mean. Walter and his wife have been getting into many fights in which he will show off his bad temper.   Many times when Walter gets upset he goes out and gets drunk.   Gerald Weales explains, â€Å"Of the four chief characters in the play, Walter Lee is the most complicated and the most impressive.

Guiding Principals of Professional Learning Communities Essay

Normally, in a professional learning community also known as a PLC, the educators work together brainstorming ideas, lessons, and activities that will support a plan to be implemented all in hopes of the student’s achievement. A professional learning community can benefit a school’s environment by reinforcing teacher morale and leadership skills. As the school moves forward, every professional in the building must engage with colleagues in the ongoing exploration of three crucial questions that drive the work of those within a professional learning community: †¢ What do we want each student to learn? How will we know when each student has learned it? †¢ How will we respond when a student experiences difficulty in learning? The answer to the third question separates learning communities from traditional schools. A PLC can serve as a support system that motivates teachers to follow a guided plan. Educators who are building a professional learning community recog nize that they must work together to achieve their collective purpose of learning for all. Therefore, they create structures to promote a collaborative culture. This plan can include classroom assistants, parent volunteers, and other school personnel like librarians. The PLC culture can influence teachers through numbers. When teachers come together and have strength in numbers they can support each other, collaborate, and brainstorm the most effective methods and techniques to instruct the students. Even the grandest design eventually translates into hard work. The professional learning community model is a grand design, a powerful new way of working ogether that profoundly affects the practices of schooling. But initiating and sustaining the concept requires hard work. This is where the challenges may arise. It requires the school staff to focus on learning rather than teaching, work collaboratively on matters related to learning, and hold itself accountable for the kind of results that fuel continual improvement. A PLC will construct a solid foundation of committed teachers who are passionate about their career and working with families a nd fellow colleagues. The benefit(s) of a PLC is that everyone has the opportunity to be involved and share goals and positive learning experiences of the schools learning environment. When educators do the hard work necessary to implement these principles, their collective ability to help all students learn will rise. If they fail to demonstrate the discipline to initiate and sustain this work, then their school is unlikely to become more effective, even if those within it claim to be a professional learning community. The rise or fall of the professional learning community concept depends not on the merits of the concept itself, but on the most important element in the improvement of any school; the commitment and persistence of the educators within it. In conclusion, educators who work together form structured atmospheres that promote learning. References Barth, R. (1991). Restructuring schools: Some questions for teachers and principals. Phi Delta Kappan, 73(2), 123-129. Marzano, R. (2003). What works in Schools: Translating research into action, Alexandria, VA: ASCD.

Recruitment in Management

Recruitment in Management Introduction Recruitment is one of the management functions that are usually conducted through the human resource department. Technically, recruitment is defined as the â€Å"process of identifying and hiring the best qualified candidate from within or outside an organisation for a job opening in the most timely and cost effective manner† (French Rumbles 2005, p.170).Advertising We will write a custom research paper sample on Recruitment in Management specifically for you for only $16.05 $11/page Learn More In this process, the management plays pivotal roles in ensuring that the process is administered effectively and efficiently so that an organisation reaps optimally from the benefits of the candidate selected from a pool of applicants who possess different experiences and technical expertise. The implementation of the recruitment process is also done in a manner that ensures precise compliance to the set recruitment policies. Some of these policie s include â€Å"affirmative action, equal opportunity employment, and non-discrimination† (French Rumbles 2005, p.170). For this reason, the specific things that the recruiting personnel look out from the applicants are set out before the recruitment is done. These specifics are laid out in the form of the job description. To come up with a concise and accurate job description, the human resource must work in collaboration within the hiring manager to develop it. In the same light, Fernando (2008) argues, â€Å"reviewing a job description is an efficient procedure to continually improve an organisations structure, as well as evaluating the competencies and wages for each position within the organisation† (p.8). Given the set out procedures and policies by an organisation for the administration of the process of recruitment, the main interrogative is how effective the concepts of recruitment are in ensuring that an organisation only hires those persons who only have ou tstanding qualifications. The focus of the paper is to give response to this query. Effectiveness of concepts of recruitment Merging talent management with recruitment An immense scholarly body of knowledge exists that attempts to set out the roles of recruitment in management of an organisation. Many approaches and models of recruitment have also been proposed with the chief intention of availing paradigms of approaching recruitment so that an organisation would secure highly professional capable workforce. These models include executive search, RPO, retained search, outplacement, and contingency hiring among others. While fully aware of the alternative ways through which an organisation can conduct recruitment, Fernando (2008) argues that talent management is a noble function that the recruitment team needs to consider (p.2).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Indeed, he advocates for adoption of a holistic approach by management as the most suitable, effective and efficient approach of conducting recruitment. The main reason why an organisation commits its resources to conduct the recruitment process by either delegating the responsibility to the human resource department or outsourcing the service externally is to make sure that only the best candidates fill the job openings (French Rumbles 2005, p.170). Apparently, an organisation utilises people as capital so that it can generate more services and goods, which is necessary for organisations to become more profitable. Arguably, this entails commoditisation of people within an organisation. When this concept is applied to the recruitment process, it infers that the persons who would stand the highest probability of being selected are those who show and prove to the recruiting personnel that, through their physical effort, mental effort, or both, they can take the organisation to th e next level in terms of enhancing its profitability. The argument here is that the central focus of recruitment is to tap professional talent from the pool of existing potential employees so that it can be utilised in the realisation of goals, missions, and aims of organisations. In recruitment, talent management is critical in enhancing the capacity of an organisation to select the right persons to fill job vacancies. The concept of talents management has three paradigms: talent identification, development of talent and talent motivation, and retention and engagement (Fernando 2008, p.1). The human resource management arm of an organisation enhances all these three aspects. Ideally, for effectiveness of recruitment in helping to enhance talent management in organisations, it is significant for it to be modeled to assume a central position in the entire process of talent development. This way, it can be utilised to ensure that it can be â€Å"directed to support strategic manageme nt efforts to address the competitive dynamics of businesses enabling the organisation to win the market† (Fernando 2008, p.2).Advertising We will write a custom research paper sample on Recruitment in Management specifically for you for only $16.05 $11/page Learn More Wining the market implies increased potential of an organisation to place successfully its products and services. Therefore, the whole idea of talent management and its relationship with recruitment revolves around the needs to enhance the growth of an organisation’s productivity through commoditisation of the workforce. The success of recruitment functions in enabling an organisation to acquire human resources that would help it to face interactively with the future business dynamics is owed to the capacity of management to establish a link between recruitment and the future needs of the organisation in question. Fernando (2008) supports this argument by further positing,  "Talent gaps to be filled through recruitment need to be defined from a strategic perspective† (p.3). Therefore, in case recruitment functions such as selecting and sourcing are accomplished from the dimension of old approaches that are outdated and narrow, a possibility surfaces that the concept of alignment of talent management with recruitment would be impaired. Consequently, â€Å"each key position filled needs to result to the organisation having a better aligned talent pool in terms of current competencies and or access to high potentials with the capability of being developed to meet the future strategic needs† (Fernando 2008, pp. 3-4). In the quest to achieve this, integration of a holistic approach to selection becomes crucial. Many organisations conduct recruitment after clearly defining the profiles of the desired person to fill a job opening, which is the approach of ‘ideal candidate’ recruitment. It seeks to â€Å"find the candidates with the required knowledge, skills, experience, behaviour, and attitude† (Fernando 2008, p.4). Comparatively, for the case of deployment of the holistic approach/model in recruitment, the chief concern is to evaluate and make sure that the selected candidate strongly fits with the organisation, the boss, work team, and the job requirements coupled with the anticipations of the position for which he or she is being recruited. After successfully recruiting the desired candidate, induction and training follow. However, through a holistic approach, such training would arguably consume less time since the model holds that the best candidate is the one who meets the demand of the organisational culture and values that guide the performance of the existing workforce of an organisation. Besides, he/she should fit well and work with a diverse work team.Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nevertheless, under the holistic approach/model to recruitment, the traditional approach is also not negated. Therefore, the selected candidate must also meet the experience, knowledge competencies, contacts, and skills that are set for the position. The tools that are deployed in the selection process under the holistic approach make the approach highly effective in enabling an organisation to get the right person who not only has the requisite professional qualification but one who can easily articulate with the set out codes of ethics and organisational culture. Such tools include psychometric tests, interviews that are competency-based, and skill tests among others. Psychometric tests are conducted to facilitate the evaluation of aspects such as personality, values, altitudes, and beliefs of the potential employee. On the other hand, skill testing is conducted to provide a means of evaluating the past behaviour and the particular skills possessed by the candidate. Consequently, the concept of the holistic approach to recruitment is enormously significant in ensuring that an organisation is capable to recruit a learning workforce. Such a workforce would introduce less friction when it comes to compliance with organisational culture. Recruitment: Leading, Developing, and Managing people Stemming from the arguments of the above section, the concept of the holistic approach to recruitment is ingrained within the concerns of providing mechanisms of enhancing the management to achieve one of its noble functions: recruiting in a manner that is efficient and effective. However, management has additional functions, which more often than not are interrelated. Such functions include leading, developing, and managing people. Consequently, it is crucial to examine how recruitment relates to these functions. In chapter 9 of Recruitment and Selection, French and Rumbles argue out that recruitment coupled with selection â€Å"play pivotal roles in the process of leading, managing, and developing people† ( 2005, p.171). The connection between leading, developing, and managing people is pegged on the argument that, in the absence of recruitment, people cannot be availed to an organisation for being developed, managed, and or led. Arguably, therefore, the entire idea of either employing or choosing not to employ is enshrined within the umbrella of managing people effectively within an organisation to realise the goals, aims, and missions of an organisation. However, in the recruitment process, fairness is of utmost importance. In this regard, French and Rumbles lament, â€Å"issues associated with exclusion from the work place also highlight the need for professionalism, fairness, and ethical behaviour on the part of those engaged in the activity† (2005, p.173 ). Consequently, the model deployed to acquire human resource in an organisation (recruitment) does not matter. Rather, recruiting the right persons is dependent on factors such as fairness and elimination of unethical conducts during the recruiting process. For the success of an organisation in executing its managerial functions of leading and managing people to yield optimal performance, the available workforce should be committed to the organisational culture and strategic goals. Such a workforce is availed through recruitment. In support this line of argument, French and Rumbles argue, â€Å"Recruitment occurs not just to replace departmental employees or to add workforce, rather, it aims to put in place workers who can perform at a high level and demonstrate commitment† (2005, p.171). This implies that recruitment plays proactive roles in making it possible for an organisation to attain organisational performance and outcomes that are positive. Fernando (2008) argues that recruitment needs to be factored in organisation’s approaches to strategic management (p.4). French and Rumbles also recognise the significance of this concern by further a sserting, â€Å"recruitment is often presented as a planned rational activity comprising certain sequentially-linked phases within a process of employee resourcing, which itself may be located within a wider HR management strategy† (p.178). In this sense, recruitment may be perceived as involving a topical issue while attempting to seek the manner in which it enhances the management to achieve its noble functions. Apparently, when the discipline of human resource emerged, recruitment has significantly contributed towards helping the management to cutely manage and lead the organisation’s workforce because, without the right workforce, orienting it to the desired ends (leading) is a nightmare. Essentially, the contribution of an enhanced recruitment process in aiding the management to execute its managerial functions is more significant in the age where many organisations are considering the employees as the most subtle resources for achieving a competitive advantage. C onclusion In any organisation, the management has a number of responsibilities. Among them is the need to lead, develop, and management people. The people who are led, developed, and managed are acquired through the process of recruitment and selection. In this paper, it has been argued that the organisation’s workforce is an essential resource that enables the organisation to produce services and goods. For optimal profitability of the organisation, the paper has held that it is crucial that recruitment is done so that only persons who can be oriented to the specific missions, goals, and aims of an organisation are hired. Consequently, the paper discussed that it is crucial to conduct recruitment from the concept that an organisation seeks people who would provide easy grounds for the management to conduct its functions of management among them being leading, developing, and managing of people. In this end, the concept of talent management and its relationship with recruitme nt is crucial. References Fernando, K 2008, ‘Aligning Recruitment to Talent Management Efforts’, Asia Pacific Journal of Management, vol.3 no.1, pp. 1-7. French, R Rumbles, S 2005, Recruitment and Selection, Mc Graw- Hill, New York, NY.