1104 Final exam summaries which are very useful PDF

Preview

Summary

1104 Final exam(summaries) which are very useful and final grade is D, if you use this summaries , you will get high mark....

Description

Lecture 3: General & Specific environment (focus on customers, suppliers and competitors) Specific environment: Trends that are unique to the firm’s industry and directly influences the organization’s operations and performance and comprise stakeholders who are individuals, groups and institutions directly affected by an organization’s performance such as customers, suppliers, competitors & industry regulation, advocacy groups [CSCIA]. It is necessary because it provides the enterprise with opportunities or threats that may exist in the external environment and helps to plan by keeping decision makers within the organization. (1) Customer component: People and organizations in the environment who acquire goods and services from the organization. It is important because organizations exist to meet the needs of their customers, thus enabling them to make large profits. We take the initiative to solve customer complaints and provide customers with simple, fast, situational banking solutions and experiences. More importantly, in order to be more customer-centric, we set up a trading market on the website, with the purpose of integrating banking services into customers' daily lives. (2) Supplier component: Provide the human, information and financial resources and raw materials that the organization uses to produce its output. Industry regulation. It is important because it promotes the steady flow of an organization and maintains its effectiveness. (3) Competitor component: Other organizations in the same industry or type of business that provide goods and services to the same set of customers. It is important because competitors may pose a threat to the success of the organization, so managers must look for potential and threatening competitors in the competition to provide better solutions to the challenge. (4) Industry regulation component: Consist of regulations and rules that govern the practices and procedures of specific industries, businesses and professions. It is important because with an industry regulation, you can make rules and then enforce the rules to influence the business or fix the unethical aspects of the business. On the regulatory side, we have provided a summary of disclosures on our compliance with the Guidelines on Corporate Governance for Financial Holding Companies, Banks, Direct insurers, Reinsurers and Captive Insurers which are incorporated in Singapore issued on 3 April 2013. (5) Advocacy groups: Groups of concerned citizens who band together to try to influence the business practices of specific industries, businesses and professions. It is important because advocacy groups can persuade companies to change their ways through public communication, media campaigns and product boycotts. We have recently developed a new strategic goal that not only improves business performance and organizational synergies but is also responsible for protecting and enhancing our brand and reputation.

Lecture 4: CSR/Proactive Corporate social responsibility (CSR): is a self-regulating business model that helps a company be socially accountable to itself, its stakeholders, and the public. By practicing corporate social responsibility, also called corporate citizenship, companies can be conscious of the kind of impact they are having on all aspects of society including economic, social, and environmental. It is necessary because Socially responsible corporates enhance the image and brand of the company, and social responsibility enables employees to do good things with the company resources at their command. More importantly, formal CSR programs can improve employee morale and productivity. Central to CSR is concept of Triple Bottom Line: Traditional financial/economic outcomes +Environmental (green) outcomes +Social/societal outcomes. In our corporate, our economic outcomes are that we became the only Asian bank with a presence in the three key axes of growthsoutheast Asia, greater China and South Asia. Environmental (green) outcomes: we are working together with ecosystem partners, so we have launched marketplaces on our website, selling cars, property and electricity. Social/societal outcomes: in order to grow the emerging trend of small businesses that provide banking services to support social issues, we have launched a Social Enterprise Banking Package. The stakeholder model of CSR: Any group within or outside the organization that has a stake in the organization’s performance. It is necessary for a corporate because firm’s long-term survival is achieved by satisfying the interests of multiple corporate stakeholders. And in our company, our key stakeholders are those who most materially affect our strategy or directly impacted by it, which include our shareholders, customers, employees, society, regulators and policy makers. Types of CSR-Proactive stance: is highest level of CSR and as citizens of society, enterprises actively seek opportunities to contribute to the wellbeing of their communities and fulfill their economic, legal, moral and discretionary responsibilities. In our company, we seek to be a force for good by supporting social enterprises (business with double bottom line) and giving back to the communities in which we operate, and as a member of the United Nations Global Compact, we are committed to advancing the sustainable development goals.

Lecture 5: Humanistic approach (from human relations to human resources management) to management Hawthome Studies: Work is a group activity and need for recognition, security and sense of belonging are more important in determining productivity than physical conditions of work. Our company proves this point. No matter how times change, we have always been a people-oriented enterprise. We believe that we have created an impact beyond the banking industry, because what we do is to touch real people, real enterprises and real lives. Human relations movement: emphasizes satisfaction of employees’ basic needs as key to increased worker productivity and focuses on the psychological and social aspects of work. Developing effective interpersonal skills is essential to building and maintaining effective business relationships, which can improve employees' productivity, motivate employees, maintain employees' loyalty to the company and Positive Perception. At DBS, we established good relationships with team, our extensive cooperation, common to find a better solution, and through the reliable and objective with people to build trust. We have decided to employees, and achieve the goal of freedom, and we recognize and celebrate their contribution and success. In this culture, employees get fun and they are to become a member of a great team and excited and full of vitality. Human resources perspective suggests jobs should be designed to meet higher level needs by allowing workers to use their full potential. It's important because it tracks applicants and makes strategic hires, manages benefits and vacations, trains managers and employees, streamlines the entry process, resolves office conflicts, and addresses legal issues. At DBS, we have decided to employees, and owns and achieve the goal of freedom, our purpose is to allow employees to give full play to their potential to design work, and in order to more effective development organization and staff, we revised the matrix management structure, have been identified in the organization who is best able to make different types of decisions and be responsible for it.

Lecture 6: Types of management skills (1) Technical Skills- understanding of and proficiency in the performance of specific tasks. They are very necessary because it enables managers to

have the ability and knowledge to use various technologies to achieve what they want to achieve. For employees, if they have technical knowledge and skills that are common in the industry, they will become more competitive candidates. Firstly, our corporate, which in order to realize the goal of digital transformation, has worked with ecosystem partners to create a website and open a trading market to sell cars, real estate and electricity. Secondly, Our CEO and his team built a new performance system called the DBS balanced scorecard end-to-end measurement system to better evaluate employee performance. (2) Conceptual Skills- Cognitive ability to see the organization as a whole and the relationship among its parts. They are very necessary because it can help managers see ways in which the entire organization works as one to achieve its goals, especially for top managers. Firstly, for the environmental, social and governance(ESG) issues into DBS group strategy, the board of directors determines the sustainability issues, and guide the management and supervision, and will execute the authorization of the strategy to the CEO, the CEO will be responsible for daily operation and management of DBS, and its specific task distribution to business and support department senior leadership. Secondly, the CEO and his team analyzed the positioning of their bank, identified new strategies and areas of focus for the bank, and stated their strategic intention to "become the Asia Bank of choice for the new Asia", conducted strategic communications within the company, developed people in the organization and established the technical infrastructure. (3) Human Skills- Ability to work with and through other people and to work effectively as a group member. They are necessary because Human skills is very important, because in an enterprise, top management must have the interpersonal skills to deal with between managers, at the same competition, the relationship between the partners. The middle managers must have the communication and strong ties to fluctuate throughout the organization to share information and ideas, to achieve their goals. The first line manager requires some employees can effective management of interpersonal relationships . Firstly, in order to communicate new strategy, our CEO and his management team visited the DBS bank offices, in order to realize the group's coordinated, and all countries DBS CEO must put forward their plans, to implement the new strategy, and the internal and external communication at all levels of an organization also has carried on the coordination and communication. Secondly, at DBS, we have built a long and strong team of people who work together to find better solutions and build trust by dealing with people reliably and objectively. (4) Motivational Skills- Managers typically have a stronger motivation to manage than their subordinates, and managers at higher levels usually have stronger motivation to manage than managers at lower levels. They are very important, because they can increase employees' input, improve their satisfaction, improve their sustainable development and improve their efficiency to achieve the performance of each department and even the company. Firstly, Employees at DBS are given the freedom to decide, own and achieve their goals, and we recognize and celebrate their contributions and successes. We create a culture of joy in which every employee is excited and energized to be part of a great team. Secondly, our corporate has embarked on a broadbased programme to develop the skills of Singaporean staff in digital banking and emerging technologies so that they can thrive in the digital sector and be fit for the future.

Lecture 8: Managing people: Human Resource Management & Diversity Developing an Effective Workforce: is refer to a set of activities to familiarize employees to their jobs, co-workers and key aspects of the organization. Develop effective workforce is very important because it can make the organization to establish a strong talent pipeline, to ensure that, at the right time in the right place to deploy the right quantity and with the right skills employees, and it also reduced the work loss caused by the skills obsolete, and minimize the replacement staff and training new staff, time and cost. There are three development include: (1) Orientation of employees: Employee orientation is the process of introducing new hires to their jobs, co-workers, responsibilities, and workplace. Orientation is important because it provides the new employee with concise and accurate information to make him/her more comfortable in the job and Encourages employee confidence and helps the new employee adapt faster to the job and Contributes to a more effective, productive workforce; Improves employee retention and Promotes communication between the supervisor and the new employee. First, our company will conduct an evaluation period for new employees to evaluate whether they demonstrated the bank’s value of PRIDE- ‘passionate and committed, value relationship, integrity and respect, dedicated to teamwork, confidence to excel’. Secondly, if you pass the evaluation, our personnel department will show you around the facilities, learn about the company culture, introduce you to colleagues, review employee manuals and paperwork, assign mentors, etc. (2) Training: is training needs, methods and evaluations. Training is necessary because it addresses employee weaknesses, improves employee performance, and improves employee job satisfaction. Firstly, there are some new skills to make staff, which make them vigorous development in the field of digital, our bank has carried out a broad-based plan including powered by artificial intelligence study idea, experiential learning, grants and scholarships, as well as the innovation of learning space. Secondly, our company has developed a holistic "TRIPLE E 'framework (education, experience, exposure) that creates an impact learning environment for employees and helps them develop their careers. (3) Performance Appraisal: is a regular review of an employee's job performance and overall contribution to a company. It is necessary because effective performance appraisal can not only eliminate behavior and work quality problems, but also motivate employees to make more contributions, improve communication between employees and managers, provide career paths, encourage good work and improvement, and improve decision-making ability. In DBS, we developed a consistent technology platform throughout the collective that we created an end-to-end measurement system called the DBS balanced scorecard, with the goal of increasing the performance of individuals, business units, and countries/regions....