Professional Responisbility Ethics Research Paper

Professional Responisbility Ethics - Research Paper Example And the Attorney, after reading the draft prepared by the Legal Assistant, decides whether the firm would handle the case, and then the attorney decides the settlement range, strategies, and ultimately finalizes the settlement. The information regarding case strategies are conveyed to the client by the Legal assistant. In addition, the legal assistant interviews witnesses, and negotiate settlement number with the insurance company. According to Canon 3 EC 3-2 of the ABA Model Code of Professional Responsibility, the sensitive variations in the considerations that bear on legal determinations often make it difficult even for a lawyer to exercise appropriate professional judgment, and it is therefore essential that the personal nature of the relationship of client and lawyer be preserved. As a result, the American Bar points out that a competent professional judgment requires trained familiarity with law and legal processes, and an analytical approach to legal problems. Admittedly, Att orney can claim that the Legal Assistant was a law student and had considerable amount of experience in handling such cases. However, the American Bar Association reminds that a non-lawyer, despite some experience, is not governed by the same rules in matters of integrity or legal competence as an attorney is. That means, despite the great degree of skills and experience of the Legal Assistant, the legal assistant cannot be entrusted such tasks which are to be done by the Attorney. However, there are disputes regarding as to what constitutes the practice of law. It is, in fact, difficult to explain in concrete terms what constitutes legal practice. However, the mere fact is that people go to a lawyer when they are in need of a professional legal judgment (EC 3-5). If this is the case, it becomes evident that Attorney has blatantly violated the ethical codes as Attorney does not directly interact with the clients. The initial interview is solely handled by Legal Assistant without any supervision of Attorney. Thereafter, it is the Legal Assistant who makes a draft of the complaint for the Attorney to read. Purely based on this report, Attorney decides if she would take up the case. That means, the clients are denied their right to listen to the legal opinion of a lawyer regarding the matter. It is pointed out in EC 3-4 that lay people who seek legal services are not in a position to judge if they will receive proper professional attention. Also, legal matters are very serious matters that involve confidences, reputation, property, freedom, or even life of the client. So, when a person approaches Attorney with such serious legal matters which are highly confidential and demanding, it is highly improper to permit a non-lawyer to handle the issue even without supervision. In addition is the fact that such non-lawyer assistants, despite experience and skills, are not subjected to the regulations of the legal profession. Admittedly, EC 3-6 provides an even clearer vi ew of the situation. According to the guideline, if a lawyer wants to delegate a task to a clerk, secretary, or any other lay person, the lawyer must ensure direct relationship with his client. Now, going back to the case study, it becomes evident that Attorney does not keep any relationship with his clients at all. The attorney does not allow direct interaction or consultation, and lets the Legal Assistant conduct the initial intervie

Growth of Venture Capital in India

Growth of Venture Capital in India VENTURE CAPITAL:- Venture capital (also known as VC or Venture) is a type of private equity capital typically provided for early-stage, high-potential, growth companies in the interest of generating a return through an eventual realization event such as an IPO or trade sale of the company. Venture capital investments are generally made as cash in exchange for shares in the invested company. It is typical for venture capital investors to identify and back companies in high technology industries such as biotechnology and ICT (information and communication technology). Venture capital firms typically comprise small teams with technology backgrounds scientists, researchers or those with business training or deep industry experience. VCs also take a role in managing entrepreneurial companies at an early stage, thus adding skills as well as capital . Inherent in realizing abnormally high rates of returns is the risk of losing all of ones investment in a given startup company. As a consequence, most venture capital investments are done in a pool format where several investors combine their investments into one large fund that invests in many different startup companies. By investing in the pool format the investors are spreading out their risk to many different investments versus taking the chance of putting all of their monies in one start up firm. A venture capitalist (also known as a VC) is a person or investment firm that makes venture investments, and these venture capitalists are expected to bring managerial and technical expertise as well as capital to their investments. A venture capital fund refers to a pooled investment vehicle (often an LP or LLC) that primarily invests the financial capital of third-party investors in enterprises that are too risky for the standard capital markets or bank loans. Venture capital is also associated with job creation, the knowledge economy and used as a proxy measure of innovation within an economic sector or geography. Venture capital is most attractive for new companies with limited operating history that are too small to raise capital in the public markets and have not reached the point where they are able to secure a bank loan or complete a debt offering. In exchange for the high risk that venture capitalists assume by investing in smaller and less mature companies, venture capitalists usually get significant control over company decisions, in addition to a significant portion of the companys ownership (and consequently value). STRUCTURE OF VENTURE CAPITAL FIRMS:- Venture capital firms are typically structured as partnerships, the general partners of which serve as the managers of the firm and will serve as investment advisors to the venture capital funds raised. This constituency comprises both high net worth individuals and institutions with large amounts of available capital, such as state and private pension funds, university financial endowments, foundations, insurance companies, and pooled investment vehicles, called fund of funds or mutual funds. TYPES OF VENTURE CAPITAL FIRMS:- Depending on business type, the venture capital firm approach differ. When approaching a VC firm, consider their portfolio: Business Cycle: Do they invest in budding or established businesses? Industry: What is their industry focus? Investment: Is their typical investment sufficient for your needs? Location: Are they regional, national or international? Return: What is their expected return on investment? Involvement: What is their involvement level? Targeting specific types of firms will yield the best results when seeking VC financing. The National Venture Capital Association segments dozens of VC firms into ways that might assist you in your search. Many VC firms have diverse portfolios with a range of clients. If this is the case, finding gaps in their portfolio is one strategy that might succeed. ROLES WITHIN VENTURE CAPITAL FIRMS:- Although the titles are not entirely uniform from firm to firm, other positions at venture capital firms include: Venture partners Venture partners are expected to source potential investment opportunities and typically are compensated only for those deals with which they are involved. Entrepreneur-in-residence (EIR) EIRs are experts in a particular domain and perform due diligence on potential deals. EIRs are engaged by venture capital firms temporarily (six to 18 months) and are expected to develop and pitch startup ideas to their host firm. Principal This is a mid-level investment professional position, and often considered a partner-track position. Principals will have been promoted from a senior associate position or who have commensurate experience in another field such as investment banking or management consulting. Associate This is typically the most junior apprentice position within a venture capital firm. After a few successful years, an associate may move up to the senior associate position and potentially principal and beyond. Associates will often have worked for 1-2 years in another field such as investment banking or management consulting. ORIGINS OF MODERN PRIVATE EQUITY:- Before World War II, venture capital investments (originally known as development capital) were primarily the domain of wealthy individuals and families. Today true private equity investments began to emerge marked by the founding of the first two venture capital firms in 1946: American Research and Development Corporation. (ARDC) and J.H. Whitney Company. ARDC was founded by Georges Doriot, the father of venture capitalism to encourage private sector investments in businesses run by soldiers who were returning from World War II. ARDCs significance was primarily that it was the first institutional private equity investment firm that raised capital from sources other than wealthy families although it had several notable investment successes as well. ARDC is credited with the first major venture capital success story when its 1957 investment of $70,000 in Digital Equipment Corporation (DEC) would be valued at over $355 million after the companys initial public offering in 1968. Venture capital firms suffered a temporary downturn in 1974, when the stock market crashed and investors were naturally wary of this new kind of investment fund. THE VENTURE CAPITAL FUNDS IN INDIA:- The concept and origin of Venture Capital, trace its growth, and highlight the venture capital regulations. It has briefly explained about the Chandra Sekhar Committee recommendations, various types of Venture Capital Funds and the venture capital process in India. A simple case on first Venture Capital Fund in India, Technology Development Information Company Of India Ltd., has also developed with concluding remarks. Introduction:- The venture capital investment helps for the growth of innovative entrepreneurships in India. Venture capital has developed as a result of the need to provide non-conventional, risky finance to new ventures based on innovative entrepreneurship. Venture capital is an investment in the form of equity, quasi-equity and sometimes debt straight or conditional, made in new or untried concepts, promoted by a technically or professionally qualified entrepreneur. Venture capital means risk capital. It refers to capital investment, both equity and debt, which carries substantial risk and uncertainties. The risk envisaged may be very high may be so high as to result in total loss or very less so as to result in high gains. THE CONCEPT OF VENTURE CAPITAL :- Venture capital means many things to many people. It is in fact nearly impossible to come across one single definition of the concept. Venture capital is defined as providing seed, start-up and first stage financing and also funding the expansion of companies that have already demonstrated their business potential but do not yet have access to the public securities market or to credit oriented institutional funding sources. The European Venture Capital Association describes it as risk finance for entrepreneurial growth oriented companies. It is investment for the medium or long term return seeking to maximize medium or long term for both parties. It is a partnership with the entrepreneur in which the investor can add value to the company because of his knowledge, experience and contact base. THE ORIGIN OF VENTURE CAPITAL :- In the 1920s 1930s, the wealthy families of and individuals investors provided the start up money for companies that would later become famous. Eastern Airlines and Xerox are the more famous ventures financed. Among the early VC funds set up, was the one by the Rockfeller Family, which started a special fund called VENROCK in 1950, to finance new technology companies. General Doriot, a professor at Harvard Business School, in 1946 set up the American Research and Development Corporation (ARD), the first firm, as opposed to a private individuals, at MIT to finance the commercial promotion of advanced technology, developed in the US Universities. ARDs approach was a classic VC in the sense that it used only equity, invested for long term, and was prepared to live with losers. ARDs investment in Digital Equipment Corporation , 1957 was a watershed in the history of VC financing. While in its early years venture capital may have been associated with high technology, over the years the concept has undergone a change and it implies pooled investment in unlisted companies. MAIN ALTERNATIVES TO VENTURE CAPITAL:- Because of the strict requirements venture capitalists have for potential investments, many entrepreneurs seek initial funding from angel investors, who may be more willing to invest in highly speculative opportunities, or may have a prior relationship with the entrepreneur. Furthermore, many venture capital firms will only seriously evaluate an investment in a start-up otherwise unknown to them if the company can prove at least some of its claims about the technology and/or market potential for its product or services. To achieve this, or even just to avoid the dilutive effects of receiving funding before such claims are proven, many start-ups seek to self-finance until they reach a point where they can credibly approach outside capital providers such as venture capitalists or angel investors. This practice is called bootstrapping. In industries where assets can be securitized effectively because they reliably generate future revenue streams or have a good potential for resale in case of foreclosure, businesses may more cheaply be able to raise debt to finance their growth. Good examples would include asset-intensive extractive industries such as mining, or manufacturing industries. Offshore funding is provided via specialist venture capital trusts which seek to utilise securitization in structuring hybrid multi market transactions via an SPV (special purpose vehicle): a corporate entity that is designed solely for the purpose of the financing. In addition to traditional venture capital and angel networks, groups have emerged which allow groups of small investors or entrepreneurs themselves to compete in a privatized business plan competition where the group itself serves as the investor through a democratic process. Venture capital (VC) arms of companies such as Intel, Cisco, Reliance ADAG, Google and Yahoo are increasing their investments in early stage technology and consumer service start-ups in India. Early Days In the absence of an organised Venture Capital industry until almost 1995, individual investors and development financial institutions played the role of venture capitalists in India. Entrepreneurs have largely depended upon private placements, public offerings and lending by the financial institutions. In 1973, a committee on Development of Small and Medium Enterprises highlighted the need to foster venture capital as a source of funding new entrepreneurs and technology. Thereafter some public sector funds were set up but the activity of venture capital did not gather momentum as the thrust was on high-technology projects funded on a purely financial rather than a holistic basis. REGULATORY GUIDELINES FRAMEWORK:- Later, a study was undertaken by the World Bank, to examine the possibility of developing Venture Capital in the private sector, based on which the Government of India took a policy initiative and announced guidelines for Venture Capital Funds (VCFs) in India in 1988. However, these guidelines restricted setting up of VCFs by the banks or the financial institutions only. Thereafter, the Government of India issued guidelines in September 1995, for overseas investment in Venture Capital in India. For tax-exemption purposes, guidelines were also issued by the Central Board of Direct Taxes (CBDT) and the investments and flow of foreign currency into and out of India have been governed by the Reserve Bank of Indias (RBI) requirements. Further, as a part of its mandate to regulate and to develop the Indian capital markets, the Securities and Exchange Board of India (SEBI) framed the SEBI (Venture Capital Funds) Regulations, 1996. These guidelines were further amended in April 2000 with the objective of fuelling the growth of Venture Capital activities in India. OBJECTIVES AND VISION FOR VENTURE CAPITAL IN INDIA:- Venture capitalists finance innovation and ideas which have potential for high growth but with inherent uncertainties. This makes it a high-risk, high return investment. Apart from finance, venture capitalists provide networking, management and marketing support as well. In the broadest sense, therefore, venture capital connotes financial as well as human capital. In the global venture capital industry, investors and investee firms work together closely in an enabling environment that allows entrepreneurs to focus on value creating ideas and allows venture capitalists to drive the industry through ownership of the levers of control, in return for the provision of capital, skills, information and complementary resources. This very blend of risk financing and hand holding of entrepreneurs by venture capitalists creates an environment particularly suitable for knowledge and technology based enterprises. Scientific, technology and knowledge based ideas properly supported by venture capital can be propelled into a powerful engine of economic growth and wealth creation in a sustainable manner. In various developed and developing economies venture capital has played a significant developmental role. India has the second largest English speaking scientific and technical manpower in the world. The Indian software sector crossed the Rs 100 billion mark turnover during 1998. The sector grew 58% on a year to year basis and exports accounted for Rs 65.3 billion while the domestic market accounted for Rs 35.1 billion. Exports grew by 67% in rupee terms and 55% in US dollar terms. The strength of software professionals grew by 14% in 1997 and has crossed 1,60,000. The global software sector is expected to grow at 12% to 15% per annum for the next 5 to 7 years. Recently, there has also been greater visibility of Indian companies in the US. Given such vast potential not only in IT and software but also in the field of service industries, biotechnology, telecommunications, media and entertainment, medical and health services and other technology based manufacturing and product development, venture capital industry can play a catalytic role to put India on the world map as a success story. WHERE ARE VCS INVESTING IN INDIA? IT and IT-enabled services Software Products (Mainly Enterprise-focused) Wireless/Telecom/Semiconductor Banking PSU Disinvestments Media/Entertainment Bio Technology/Bio Informatics Pharmaceuticals Electronic Manufacturing Retail ISSUES AND CHALLENGES:- Indian Venture Capital yet to be established as a sustainable asset class among institutional investors. Moreover a limited amount of true risk-capital impacts entrepreneurial activity. Exit challenges exist mainly due to shallow capital markets and dull MA environment for small companies. Most importantly, India is yet to create a brand-name for IP-led companies, like Israel has successfully done. THE GROWTH OF VENTURE CAPITAL: A CROSS-CULTURAL COMPARISON The venture capital (VC) industry plays an important role in nurturing entrepreneurship and innovation, and its role varies from country to country. The six countries whose VC industries are analyzed here are the United States and Canada, whose VC industries are mature; Sweden and Denmark, which have established small but successful VC industries; and Israel and Turkey, whose experiences demonstrate the state of the young VC industry in transition economies. The analysis is based on the four main determinants of the VC industry: sources of financing, institutional infrastructure, exit mechanisms, and entrepreneurship and innovation generators. In addition, the special role of VC financing in the biomaterials industry is explained. Understanding the factors that contribute to the emergence of a successful venture capital industry is important for academics, VC associations, policy-making institutions, government agencies, and investors themselves. VENTURE CAPITAL IN INDIA:- In India, the Venture Capital plays a vital role in the development and growth of innovative entrepreneurships. Venture Capital activity in the past was possibly done by the developmental financial institutions like IDBI, ICICI and State Financial Corporations. These institutions promoted entities in the private sector with debt as an instrument of funding. For a long time, funds raised from public were used as a source of Venture Capital. This source however depended a lot on the market vagaries. And with the minimum paid up capital requirements being raised for listing at the stock exchanges, it became difficult for smaller firms with viable projects to raise funds from public. In India, the need for Venture Capital was recognised in the 7th five year plan and long term fiscal policy of GOI. In 1973 a committee on Development of small and medium enterprises highlighted the need to faster VC as a source of funding new entrepreneurs and technology. VC financing really started in India in 1988 with the formation of Technology Development and Information Company of India Ltd. (TDICI) promoted by ICICI and UTI. The first private VC fund was sponsored by Credit Capital Finance Corporation (CFC) and promoted by Bank of India, Asian Development Bank and the Commonwealth Development Corporation viz. Credit Capital Venture Fund. At the same time Gujarat Venture Finance Ltd. and APIDC Venture Capital Ltd. were started by state level financial institutions. VENTURE CAPITAL INVESTMENTS IN INDIA:- The venture capital investment in India till the year 2001 was continuously increased and thereby drastically reduced. It is estimated that there was a tremendous growth by almost 327 percent in 1998-99, 132 percent in 1999-00, and 40 percent in 2000-01 thereafter venture capital investors slow down their investment. Surprisingly, there was a negative growth of 4 percent in 2001-02 it was continued and a 54 percent drastic reduction was recorded in the year 2002-2003. TYPES OF VENTURE CAPITAL FUNDS:- Generally, there are three types of organised or institutional venture capital funds: venture capital funds set up by angel investors, that is, high net worth individual investors; venture capital subsidiaries of corporations and private venture capital firms/ funds. Venture capital subsidiaries are established by major corporations, commercial bank holding companies and other financial institutions. Venture funds in India can be classified on the basis of the type of promoters. VCFs promoted by the Central govt. controlled development financial institutions such as TDICI, by ICICI, Risk capital and Technology Finance Corporation Limited (RCTFC) by the Industrial Finance Corporation of India (IFCI) and Risk Capital Fund by IDBI. VCFs promoted by the state government-controlled development finance institutions such as Andhra Pradesh Venture Capital Limited (APVCL) by Andhra Pradesh State Finance Corporation (APSFC) and Gujarat Venture Finance Company Limited (GVCFL) by Gujarat Industrial Investment Corporation (GIIC). VCFs promoted by Public Sector banks such as Canfina by Canara Bank and SBI-Cap by State Bank of India. VCFs promoted by the foreign banks or private sector companies and financial institutions such as Indus Venture Fund, Credit Capital Venture Fund and Grindlays India Development Fund. VENTURE CAPITAL FUNDING:- Venture capitalists are typically very selective in deciding what to invest in; as a rule of thumb, a fund may invest in one in four hundred opportunities presented to it. Funds are most interested in ventures with exceptionally high growth potential, as only such opportunities are likely capable of providing the financial returns and successful exit event within the required timeframe (typically 3-7 years) that venture capitalists expect. Venture capitalists also are expected to nurture the companies in which they invest, in order to increase the likelihood of reaching an IPO stage when valuations are favorable. Venture capitalists typically assist at four stages in the companys development: Idea generation; Start-up; Ramp up; and Exit There are typically six stages of financing offered in Venture Capital, that correspond to these stages of a companys development. Seed Money: Low level financing needed to prove a new idea (Often provided by angel investors) Start-up: Early stage firms that need funding for expenses associated with marketing and product development First-Round: Early sales and manufacturing funds Second-Round: Working capital for early stage companies that are selling product, but not yet turning a profit Third-Round: Also called Mezzanine financing, this is expansion money for a newly profitable company Fourth-Round: Also called bridge financing, 4th round is intended to finance the going public process WHAT DO VCS LOOK FOR? Venture capitalists are higher risk investors and, in accepting these risks, they desire a higher return on their investment. The venture capitalist manages the risk/reward ratio by only investing in businesses which fit their investment criteria and after having completed extensive due diligence. Venture capitalists have differing operating approaches. These differences may relate to location of the business, the size of the investment, the stage of the company, industry specialization, structure of the investment and involvement of the venture capitalists in the companies activities. The entrepreneur should not be discouraged if one venture capitalist does not wish to proceed with an investment in the company. The rejection may not be a reflection of the quality of the business, but rather a matter of the business not fitting with the venture capitalists particular investment criteria. Often entrepreneurs may want to ask the venture capitalist for other firms that might be interested in the investment opportunity. VENTURE CAPITAL IS NOT SUITABLE FOR ALL BUSINESSES, AS A VENTURE CAPITALIST TYPICALLY SEEKS : Superior Businesses:- Venture capitalists look for companies with superior products or services targeted at large, fast growing or untapped markets with a defensible strategic position such as intellectual property or patents. Quality and Depth of Management:- Venture capitalists must be confident that the firm has the quality and depth in the management team to achieve its aspirations. Venture capitalists seldom seek managerial control, rather they want to add value to the investment where they have particular skills including fund raising, mergers and acquisitions, international marketing, product development, and networks. Appropriate Investment Structure:- As well as the requirement of being an attractive business opportunity, the venture capitalist will also seek to structure a deal to produce the anticipated financial returns to investors. This includes making an investment at a reasonable price per share (valuation). Exit Opportunity:- Lastly, venture capitalists look for the clear exit opportunity for their investment such as public listing or a third party acquisition of the investee company. Once a short list of appropriate venture capitalists has been selected, the entrepreneur can proceed to identify which investors match their funding requirements. At this point, the entrepreneur should contact the venture capital firm and identify an investment manager as an initial contact point. The venture capital firm will ask prospective investee companies for information concerning the product or service, the market analysis, how the company operates, the investment required and how it is to be used, financial projections, and importantly questions about the management team. In reality, all of the above questions should be answered in the Business Plan. Assuming the venture capitalist expresses interest in the investment opportunity, a good business plan is a pre-requisite. METHODS OF VENTURE FINANCING:- Venture capital is typically available in three forms in India, they are: Equity : All VCFs in India provide equity but generally their contribution does not exceed 49 percent of the total equity capital. Thus, the effective control and majority ownership of the firm remains with the entrepreneur. They buy shares of an enterprise with an intention to ultimately sell them off to make capital gains. Conditional Loan: It is repayable in the form of a royalty after the venture is able to generate sales. No interest is paid on such loans. In India, VCFs charge royalty ranging between 2 to 15 percent; actual rate depends on other factors of the venture such as gestation period, cost-flow patterns, riskiness and other factors of the enterprise. Income Note : It is a hybrid security which combines the features of both conventional loan and conditional loan. The entrepreneur has to pay both interest and royalty on sales, but at substantially low rates. Other Financing Methods: A few venture capitalists, particularly in the private sector, have started introducing innovative financial securities like participating debentures, introduced by TCFC is an example. VENTURE CAPITALISTS INVESTING IN INDIA:- For a very long time, Silicon Valley venture capitalists only invested locally. However, throughout the years, they expanded their investments worldwide. Most recently, Matrix Partners, a leading American venture capitalist firm, had announced a $150 million India fund, where they will provide internet, mobile, media, entertainment, leisure, and travel services to customers in Mumbai. Sequoia Capital, a Silicon Valley-based VC firm, wanted to take advantage of investing in start-up companies and had acquired West bridge Capital, an Indian firm, for $350 million. It is no wonder that venture capitalist investments in India have risen dramatically within the past few years. From 2005 to 2007, VC investments in India grew from $320 million to about $777 million, respectively. Some important Venture Capital Funds in India:- APIDC Venture Capital Limited , 1102, Babukhan Estate, Hyderabad 500 001 Canbank Venture Capital Fund Limited, IInd Floor, Kareem Towers, Bangalore Gujarat Venture Capital Fund 1997, Ashram Road, Ahmedabad 380 009 Industrial Venture Capital Limited, Thyagaraya Road, Chennai 600 017 Auto Ancillary Fund Opp. Signals Enclave, New Delhi 110 010 Gujarat Venture Capital Fund 1995 Ashram Road Ahmedabad 380 009 Karnataka Information Technology Venture Capital Fund Cunningham Rd Bangalore India Auto Ancillary Fund Nariman Point, Mumbai 400 021 Information Technology Fund, Nariman Point, Mumbai 400 021 Tamilnadu Infotech Fund Nariman Point, Mumbai 400 021 Orissa Venture Capital Fund Nariman Point Mumbai 400 021 Uttar Pradesh Venture Capital Fund Nariman Point, Mumbai 400 021 SICOM Venture Capital Fund Nariman Point Mumbai 400 021 Punjab Infotech Venture Fund 18 Himalaya Marg, Chandigarh 160 017 National venture fund for software and information technology industry Nariman. DHFL VENTURE CAPITAL INDIA PVT LTD:- DHFL Venture Capital India Pvt. Ltd. (DVCI) provides advisory, managerial and consultancy services to Venture Capital Funds, Venture Capital Managements and Venture Capital Undertakings, related to Indian Real Estate. DVCI is promoted by Dewan Housing Finance Corporation Limited (DHFL), Indias premier second largest housing finance company in the private sector. The Company is presently providing investment management services to DHFL Venture Capital Fund. DHFL Venture Capital Fund was launched in Feb 2006, one of the first private equity Real estate funds in India. The fund is registered with Securities and Exchange Board of India. CANBANK:- Canaan Partners (Canaan) is a global venture capital firm focusing on investments in early stage companies in the technology and healthcare sectors. The firms technology group focuses on digital media, communications, enterprise software, semiconductors, and cleantech. The healthcare group focuses on biopharmaceuticals, devices, and diagnostics. Founded in 1987, the firm has offices in Menlo Park, California; Westport, Connecticut; Gurgaon, India; and Herzliya, Israel. Since inception, Canaan has raised eight funds to date and as of 2009 manages $3 billion in capital. Canbank Venture Capital Fund Ltd (CVCFL) is a wholly owned Subsidiary of Canara Bank. Canbank Venture Capital Fund is Indias First and Only Public Sector Bank sponsored Venture Capital Fund, set up in 1989. The Fund is registered with SEBI. Four Venture Capital Funds with an aggregate corpus of around INR 1200 Million launched till date. The portfolio investments are spread across diverse industrial segments. A Case on Technology Development Information Company Of India Ltd. TDICI was incorporated in January 1988 with the support of the ICICI and the UTI. The countrys first venture fund managed by the TDICI called VECAUS ( Venture Capital Units Scheme) was started with an initial corpus of Rs.20 crore and was completely committed to 37 small and medium enterprises. The first project of the TDICI was loan and equity to a computer software company called Kale Consultants. Present Status: At present the TDICI is administering two UTI -mobilised funds under VECAUS-I and II, totaling Rs.120 crore. the Rs.20 crore invested under the first fund, VECAUS-I, has already yielded returns totaling Rs. 16 crore to its investors. Some of the projects financed by the TDICI are discussed below. MASTEK , a Mumbai based software firm, in which the TDICI invested Rs.42 lakh in equity in 1989, went public just three ye

Lawn Pesticides and Chemicals Essay -- Health Toxic Substances Essays

Lawn Pesticides and Chemicals Recently, the use of lawn pesticides and chemicals has grown enormously with home owners and golf course management in hope of attaining "the perfect turf." However, the negative effects that are associated with attaining ones "dream turf" is primarily caused by the direct use of pesticides and chemicals. The chemical pesticide industry fails to address these issues and has made every effort to keep this information from the public. Herbicides and pesticides are not a natural way to achieve a beautiful lawn, contrary to what lawn care companies would like people to believe. They are broad-spectrum biocides, and by their very nature can harm organisms other than the targeted species (Dieglman, 1996). Pesticide industries make false claims by stating that their chemicals are heavily diluted, failing to mention that toxins are still extremely dangerous in small amounts. Other false claims include companies like ChemLawn which state that a child would have to ingest ten cups of treated grass clippings to equal the toxicity of one aspirin. In fact, the real danger is not from grazing the lawn. Most poisonings come from inhaling pesticide residues or absorbing them through the skin (Begley, 1988). These chemicals include wartime defoliants such as Agent Orange, nerve-gas type pesticides, and artificial hormones (Dieglman, 1996). In some instances, pesticides like DDT, which remain active for many years, accumulate in our bodies and are released at potentially toxic levels. In women, lifetime exposures to such chemicals are released in the breast milk of her firstborn child (International Joint Commission, 1990). Pesticides drift and settle during application where they can easily reach houses and p... ...l and human health risks that outweigh its intended results. Alternative strategies must be developed which will bring about better results on the environment. Long lasting solutions, which require less time, are definitely the best place to start. References N. Diegelman. Poison in the Grass. 1996. Begley, Sharon, and Hager. "Please Don’t Eat the Daises." Newsweek 16 May 1988. International Joint Commission on the Great Lakes. "Selected Persistent Toxic Substances in Human Breast Milk in the Great Lakes Basin." March 1990. American Defender Network. "Lawn Chemical Dangers." 1989. American Cancer Society, Erie County Branch. "Warning: The Use of Pesticides May Be Hazardous To Your Health." 1991. G. Davidson. "Pesticides: The Killing Fields." Woman’s Day. 1994. N. Polk. "The Perfect Lawn Isn’t Always Green." The New York Times, Oct. 17, 1990.

Eveline Analysis

Ashley Carey ENC 1102 MW 12:30- 1:45 8/29/12 After reading â€Å"Eveline† by James Joyce I would say I was not overall shocked with the outcome of her not leaving. Throughout the story I could tell that Eveline was unsure of herself and of what she wanted. She couldn’t decide between running away to Buenos Aires with her lover, Frank or staying to make sure her family is looked after. I felt that her age is a significant factor of her choice of staying in Dublin.She didn’t understand herself enough because she didn’t experience life to see how she deals with difficult life changing situations. I felt like her choice shows herself to the audience. She could have chosen to go with Frank and come off to some readers as â€Å"following her heart†, maybe â€Å"selfish†, â€Å"thinking about her future and what she desires in life and in her heart†, â€Å"not caring for her family†.I personally feel like her decision to stay was a mor e â€Å"comfortable† decision for her and she wasn’t taking risks and was thinking about the love for her family and siblings and not wanting them to get hurt in anyway. If her mother hadn’t told her before she died to keep the home together as long as she could, I felt that Eveline would have ran away with Frank not feeling guilty when she left; That she didn’t do the one thing that her mother asked of her before her death.

British Gas HRM Case Study Essay

The UK enjoys a wealth of indigenous energy resources and has the technical expertise and experience to exploit them. Much of this expertise is being utilized in gainful commercial ventures overseas. In its position as one of the most energy-rich countries in Europe, the UK is uniquely placed to profit from a strong energy market. Expenditure on energy amounted to  £99.87bn in 2008. UK householders spent  £40.67bn on energy products, representing 5.2% of total consumer expenditure. Privatization has provided the impetus for competition, resulting in a major restructuring of the energy industries and the companies involved. Restructuring commenced in the late 1980s with the privatization of the gas sector, closely followed by similar moves in the electricity, coal and nuclear sectors. Oil resources had always been in private hands. Full liberalization was achieved in May 1999, with the completion of the opening up of the electricity market. All consumers, both domestic and business, are now free to choose their supplier of gas or electricity. A succession of bids, notably in the electricity sector where many of the regional electricity companies (RECs) are under new ownership, has changed the nature and structure of the energy industry. Thus, public electricity suppliers have evolved since privatization into complex structures embracing diverse businesses. Most have extended their interests into generation or are part of wider groups with major interests in generation. . Acquisitions by foreign concerns, notably from the US and from Europe, have created a much more international industry. The  £10bn take-over of Powered PLC by E.ON of Germany remains on track for completion in 2002. However, the  cost of acquiring energy customers has become too high for some US energy groups. The collapse of Enron Corp., the energy trading group, in November 2001, was threatening to destabilize energy markets in the US and Europe. 1.1 BRITISH GAS British Gas is Britain’s favorite domestic energy supplier. As well as providing gas and electricity, they also install and maintain central heating and gas appliances in millions of homes throughout the country. Part of the energy group Centrica, British Gas provides gas, electricity and home repair services to eight million home and business customers in England, Scotland and Wales. It is the UK’s largest operator in the installation and maintenance of domestic central heating and gas appliances, serving 16.6 million customers. In addition, their customers turn to them to provide expert, hassle-free care that takes care of their kitchen appliances, home electrics and plumbing and drains. Everything they do is driven by their desire to deliver high quality products and services. They operate in England and Wales under the British Gas brand name and as Scottish Gas in Scotland. Among a total workforce of 28,000, British Gas employs more than 9,000 trained engineers who carry out servicing and break-down calls. In 2008, 2.2% of its engineering workforce was female and 4.6% were from an ethnic minority background. Against the background of a highly competitive energy market, they continue to be the first choice gas supplier for millions of customers. What’s more, since the residential electricity market opened to competition in 1998, they’ve grown to become the largest supplier of electricity to residential customers in Britain. 2.0 Challenges faces by HR managers at British Gas Over the last 20 years, the workplace has changed in more ways than one could have ever imagined, resulting from the increase in technology, innovation and globalization, new employment legislations, different attitude in society, economic recession and ethnic diversification. The next decade will bring even greater change, impacting all facets of the workplace, including major changes for the HR department and HR managers. In order to respond to the demands of globalization, HR managers at British gas will require new  skills and competencies relating to language and culture, technology capabilities, methods to measure and quantify effectiveness and evaluate strategies and return on investment. Evidently, these skills and competencies will result in an emerging new role for HR managers, requiring them to be strategic business partner, supportive of the overall corporate strategy. The role of HR managers has changed from a less administrative role to more of a strategic role. HR managers will continually be required to prove their effectiveness and their existence. They will be expected to understand strategic business practices and promote cultural diversity within the organization. They will need to understand the core business of the organization and become partners with line managers. They will need to prove that their initiatives and programs are result-oriented, providing specific measurable results in terms of business competitiveness that contribute positively to the bottom-line of the organization. They will be required to stay current with leading edge as more and more organization is faced with the demands of globalization and strategic alliances with other competitive organizations in the energy sector in UK. Whilst the current economic climate is clearly influencing the agenda for HR leaders, the challenges of retaining, motivating and aligning em ployees remain a priority. The results show that more than ever there is pressure on HR to deliver real business impact, and to do so with HR costs constrained. (The green village, 2009) Intuitive talent management systems, designed for the business as well as HR, can play a critical part in ensuring the organizational adoption of any talent strategy. The number of respondents prioritizing the need for performance management, succession and career planning systems shows that HR managers realize the importance of enabling technology in executing talent management programs. Workplace flexibility is expected to be on the rise as the future workplace, the ‘virtual office’ is characterized by creative and flexible work arrangements. As more employees work off-site-up to two thirds of an organization in the 21st century – there will be an increase in emphasis on performance and results as opposed to the number of hours worked. In addition, off-site employees can expect to attend fewer meetings. Specified work will become much more collaborative and management will spend nearly all its time managing cross-functional work teams who enjoy a lot of autonomy. In essence, there will be a movement, a  trend towards a decentralized model of HR. HR managers will have to accommodate employees in their virtual work locations and find ways to manage corporate culture, socialization and employee orientation. In order to obtain and maintain a competent workforce, they must act as organizational performance experts and shape employees behavior without face to face meetings.( Research and markets, 2009) Globalization will impact HR managers by requiring new skills such as language capabilities. For e.g., in order to recruit employees from other cultures, HR managers will either have to learn new languages or else they will certainly have to have foreign speakers on staff. But in order to facilitate communication among p eople coming from a wide range of language backgrounds in UK. Organization must take into account cultural differences that shape managerial attitudes, when developing multinational management programs. For e.g., British managers value individual achievement and autonomy, whereas French managers appreciate competent supervision, fringe benefits, security and comfortable conditions, while Indian managers gives more importance of their culture and tradition. HR managers in British gas must therefore be familiar with and understand other cultural norms to promote organization diversity. An organization that recognizes and promotes cultural diversity will benefit because it will be employing the market that it serves. With increasing globalization and competition within the market, a diverse workforce is conducive to attracting and retaining a strong client base. While competing in an international market, employees from diverse national backgrounds provide language skills and understanding of other cultures. HR professionals will also be responsible for providing cultural sensitivity training for the organizations employees and for managers throughout the entire organization. (Czebter, Anamaria, 2002) HR professionals play a critical role in the globalization process by helping companies evaluate the human resource prospects and possibilities involved in moving to different regions of the world (Marsnik and Luthans, 1997). As the global economic crisis continues to impact businesses, employee retention is seen as the greatest challenge overall. This reflects the need for organizations to identify and retain top talent during a period when internal mobility is essential to retain a competitive edge and ensure  company survival as the UK economy slows. Since 2006, the ‘HR Challenges’ research has found that employee retention is the biggest concern for HR managers. In an unstable economy, employee engagement tools such as effective goal alignment, internal mobility, career planning and succession programs are essential for motivating the workforce. According to reports, almost half of HR managers named ‘a system to improve performance management, succession and career planning’ as the one thing that would help them do their jobs better in 2009. Whilst the current economic climate is clearly influencing the agenda for HR leaders, the challenges of retaining, motivating and aligning employees remain a priority. 3.0 HRM Models 3.1 Guest’s model of HRM David Guest’s (1989, 1997) model of HRM has 6 dimensions of analysis: * HRM strategy * HRM practices * HRM outcomes * Behavior outcomes * Performance outcomes * Financial outcomes The model is prescriptive in the sense that it is based on the assumption that HRM is distinctively different from traditional personnel management .It is idealistic, implicitly embodying the belief that fundamental elements of the HRM approach (essentially those of the Harvard map) such as commitment have a direct relationship with valued business consequences. However, Guest has acknowledged that the concept of commitment is ‘messy’ and that the relationship between commitment and high performance is (or, perhaps, was – given the age of this material) difficult to establish. It also employs a ‘flow’ approach, seeing strategy underpinning practice, leading to a variety of desired outcomes. Like its American predecessors, this UK model is unitarist (tying employee behavior and commitment into the goals of strategic management) and lukewarm on the value of trade unions. The employee relationship is viewed as one between the individual and the organizat ion. 3.2 The Harvard Model of HRM This map is based on an analytical approach and provides a broad causal depiction of the ‘determinants and consequences of HRM policies.’ It shows human resource policies to be influenced by two significant considerations: * Situational factors in the outside business environment or within the firm such as laws and societal values, labor market conditions, unions, work-force characteristics, business strategies, management philosophy, and task technology. According to Beer et al these factors may constrain the formation of HRM policies but (to varying degrees) they may also be influenced by human resource policies. * Stakeholder interests, including those of shareholders, management employees, unions, community, and government. Beer et al argue that human resource policies SHOULD be influenced by ALL stakeholders. If not, ‘the enterprise will fail to meet the needs of these stakeholders in the long run and it will fail as an institution.’ The authors also contend that human resource policies have both immediate organizational outcomes and long-term consequences. Managers can affect a number of factors by means of the policy choices they make, including: – The overall competence of employees, – the commitment of employees, – the degree of congruence between employees’ own goals and those of the organization, and – the overall cost effectiveness of HRM practices. 3.3 HR Activities of British Gas British Gas ran a number of diversity workshops, primarily for its senior and middle managers, to engage them and help them understand what the organization was trying to achieve and why it was trying to achieve it, and show them what a diverse workforce would look like ‘on their patch’. Meanwhile, all managers who are either involved in recruiting and/or managing staff and all recruitment specialists have undergone equality and diversity training to again ensure they fully understand what British Gas is trying to achieve and why, and are able to make decisions free from bias. When recruiting British gas use technical skills to undertake the work to the required standard to having the people skills to deliver excellent  customer services. As a result, recruitment and selection of apprentices and trainees is increasingly focusing on recruiting for attitude. Examples of attributes and competencies that British Gas looks for are listed on the Recruitment website and inclu de: ââ€"  Good communication, organizational and problem-solving skills ââ€"  Aptitude for team work ââ€"  Careful, accurate and methodical approach ââ€"  Polite, tactful, friendly, professional, with a pleasant manner for dealing with customers. With the change in emphasis away from pure technical skills to behaviors and attributes, there were initial concerns that the quality of the intake or the pass rates could drop within the Academy. Carole Willsher says: ‘We were a little worried that we would get apprentices and trainees with great people and communication skills, but who were technically not very good. But that’s not been borne out at all. The pass marks remain very high. It shows that if you’ve got the attitude to want to learn and get on, you can do really well All the recruitment policies, practices and literature have been reviewed to remove any gender or race bias. In addition, a thorough audit of policies and practices to remove any age bias was carried out at group level by parent company Centrica ahead of the Employment Equality (Age) Regulations in 2006. It brought to light the need to make a number of changes, the most significant of which was the removal of upper age limits for entrance to the British Gas apprenticeship scheme (Previously, the scheme was targeted at young adults in the 17–23 age range). British Gas is focusing this year on developing partnerships with organizations that have already built strong links with its target audiences, including Job centre Plus; the London Development Agency; housing associations and specialist groups including the Windsor Fellowship, a charity that offers educational and leadership programs to develop diverse young talent; Women and Manual Trades; and YWCA, a charity working with disadvantaged women in England and Wales. 4.0 Recruitment and selection The overall aim of the recruitment and selection process should be to obtain at minimum cost the number and quality of employees required to satisfy the human resource needs of the company. The three stages of recruitment and selection dealt with are 1. Defining requirements – Preparing job descriptions and specifications; deciding terms and conditions of employment; 2. Attracting candidates – reviewing and evaluating alternative sources of applicants; inside and outside the company, advertising, using agencies and consultants; 3. Selecting candidates –sifting applications, interviewing, testing, assessing candidates, assessment centers, offering employment, obtaining references; preparing contract of employment. (Armstrong, 2007) 4.1 British Gas Recruitment and Selection Process The greater focus on customer service skills and personal attributes is reflected throughout the recruitment process itself. The initial application form must now be completed online. Basic biographical information is requested, and applicants are required to complete basic Maths, English and logic tests. However, the key part of the application is a personality/work style questionnaire, which is used to assess an applicant’s suitability. Applicants must respond to a series of questions designed to assess their attitude to work and people. The questionnaire is lengthy, as similar questions are asked in a number of different ways to ensure consistency of responses. Applicants who score highly after this initial screening then have a telephone interview to confirm essential information – for example, to be eligible for the apprentice technical engineer program, applicants must be aged at least 17, must have four GCSEs at grade C or above, and must hold a full or provision al UK driver’s license. Those who pass this stage are then invited to an assessment centre. There are three elements to the assessment day – an interview, a role play exercise and a manual dexterity test. The interview is largely based around questions relating to the candidate’s completed online questionnaire to further assess their personal  attributes and competencies. Similarly, the role play is also used to assess a candidate’s attitude and whether they are able to understand and assimilate information, but more importantly, to see how they deal with customers. The test involves a practical assessment, but no gas-related knowledge is required – it is simply designed to assess whether the candidate is able to follow step-by-step instructions and handle small components. The recruitment process is lengthy but thorough and a big investment in terms of time and resources for British Gas, admits Carole Willsher. ‘But it’s been designed that way to ensure that we ge t the right people with the right skills who will fit into our organization and help us move closer to where we want to be in terms of having a diverse engineering workforce.’ Recruiting is an uncertain game, even at the best of times. On the other hand the larger your pool of candidates, the greater your chance of finding someone who is just right for you. However, this possibility has to be balanced again the fact that you can’t interview hundreds of candidates for every available post. So you need to develop the expertise of defining your job requirements, while ensuring that these requirements are presented to the widest possible field of candidates in the given context. (Pettinger and Allen, 2007) British Gas ran a number of diversity workshops, primarily for its senior and middle managers, to engage them and help them understand what the organization was trying to achieve and why it was trying to achieve it, and show them what a diverse workforce would look like ‘on their patch’. Meanwhile, all managers who are either involved in recruiting and/or managing staff and all recruitment specialists have undergone equality and diversity training to again ensure they fully understand what British Gas is trying to achieve and why, and are able to make decisions free from bias. Selection involves a number of costs; the cost of the selection process itself including the use of various instruments, the future costs of inducting and training new staff and the cost of labor turnover if selected staff is not retained. (Bratton and Gold, 2000) 4.2 British Gas Targeted advertising British Gas uses a variety of ways and media to appeal to its target audiences, including: ââ€"  advertising in magazines like ‘Bliss’ and ‘Sugar’ which are aimed at teenage girls, careers-type websites like Voice and The Asian News, and the gay media ââ€"  redesigning its recruitment advertisements in terms of both images and language to reach Out to people from more diverse backgrounds ââ€"  ensuring that marketing materials such as recruitment brochures and its dedicated recruitment website (www.britishgasacademy.co.uk) portray a diverse range of individuals to help challenge stereotypical attitudes and project an inclusive image – for example, the website contains a number of real apprentice and trainee profiles including Kirk (a BME apprentice technical engineer) and Maria (a female BME trainee electrical field engineer) ââ€"  producing DVDs for schools and partner organizations One of the key objectives of the diversity team is to increase the number of applications from under-represented groups. To attract as wide a range of talent as possible, the team has introduced changes to all areas of the recruitment and selection process, including developing partnerships with organizations that have already established relationships with their target audiences; reviewing all its policies and practices to remove any gender, race or age bias; and changing the emphasis from recruiting for technical ability to recruiting for attitude. 4.3 Outreach The diversity team adopts a number of positive action strategies to raise awareness of the different opportunities available at British Gas among under-represented groups including running taster days and building partnerships with organizations that already work with people who are among their target audience 4.4 Partnership working Recognizing that there are difficulties gaining access to under-represented groups, British Gas is focusing this year on developing partnerships with organizations that have already built strong links with its target audiences, including Job centre Plus; the London Development Agency; housing associations and specialist groups including the Windsor Fellowship, a charity that offers educational and leadership programs to develop diverse young talent; Women and Manual Trades; and YWCA, a charity working with disadvantaged women in England and Wales. Another way that British Gas is developing partnerships is by working with other large employers, particularly those that experience similar issues in the recruitment of a diverse workforce, such as the London Fire Brigade and BT Open reach. The aim of these relationships is to share best practice and data for benchmarking purposes. 4.5 Taster days British Gas regularly runs women-only and BME taster days, with the specific aim of attracting women and ethnic minorities into engineering and apprenticeships. The day is designed to give participants a clearer understanding of the engineering opportunities at British Gas. Attendees are given a presentation on the career paths available, an opportunity to meet engineers to find out what the job is really about, and a chance to question a panel of recruitment and training experts from the Academy. Taster days are usually planned to coincide with the availability of apprentice or trainee positions in a particular area, so that if people are interested by what they find out, they can apply while they are still keen. 4.6 Ambassadors British Gas has developed a network of engineering ‘ambassadors’ from its workforce – apprentices, trainees and qualified engineers – who provide support to the diversity team in recruitment and awareness-raising activities including school visits, careers events and taster days. They are  able to promote a positive side to engineering and their ability to tell people firsthand what they do on a day-to-day basis and what it is really like to work for the organization is a powerful tool in changing perceptions and in motivating young people, women and those from a BME background to consider a ‘non-traditional’ career in engineering. The ambassadors are also used as role models in promotional materials such as DVDs, recruitment brochures and the Academy’s dedicated website, and in media campaigns. 5.0 Training and Development Training enables people to perform better in their jobs, when they perform better they feel pride and fulfillment. (Allen, 1996) To attempt to identify the dynamics in an organization which demonstrate that development of self and others is being taken seriously at all levels and that such investment is having a positive impact on individual and corporate performance. Such a quest begs all sorts of questions, Does strategic training only incorporate that which has a quantifiable effect on business objectives.( Mabey and Salaman ,1999) 5.1 British Gas Training & Development At British Gas take training and development very seriously, beginning with an induction program that will give all the skills need to succeed. They want people training to be a rewarding and enjoyable experience, so have made sure that trainees are involved all the way through from day one until graduation. And trainees will find that the more they put in, the more they’ll get out, with the ultimate goal to be ready for a role within one of our existing British Gas Energy Sales teams. Trainees will learn not only about the history of British Gas, but also brand and what it means. Naturally this will include their fantastic products and services, so trainees’ have the confidence to talk to people about all their energy and home services needs. Company’ll also look at the important sales side of the role, helping trainees refine their existing skills, or develop new ones if they don’t come from a sales background. Once completed training, they’ll be supported through their first few weeks by an experienced buddy who will  be on hand to offer guidance and develop skills further. In addition manager will also regularly review progress and answer any queries so trainee won’t be left feeling on their own. In short, company has an excellent training package waiting for recruits. Training that will give them the skills and knowledge which, in addition to natural enthusiasm, will help take advantage of company position as the largest energy supplier in the UK when speaking with prospective and existing customers. Recruit’ll also be rewarded for efforts with continued development opportunities. 5.2 British Gas AcademyBBBBB Energy Academy Box 2: The British Gas Energy Academy Established in 2003, the British Gas Energy Academy (the ‘Academy’) was set up to address a severe shortage of qualified gas engineers. This was caused largely by the privatization of the gas industry in 1986, which led to major fragmentation of the industry – large organizations were broken up while new players entered the market, and the number of qualified engineers in the UK failed to keep up with demand. With a plan to recruit an additional 5,000 new engineers by 2007/08 to address this skills shortage, and recognizing the significant financial investment this would involve, British Gas created the Academy, bringing together existing internal training centers, the recruitment function and the management of third-party training. This facility enabled British Gas to recruit and train large groups of suitable individuals to become fully competent engineers. The Academy runs two types of training programs for those who choose a career as an engineer: it offers apprenticeships for individuals wishing to become technical engineers responsible for central heating system maintenance and installation, and traineeships, primarily for people looking for a career change, so they become qualified engineers responsible for maintaining electrical and gas appliances. In addition to training new recruits, the training centers are used for mandatory competency training and three-yearly assessments of trained engineers to ensure they maintain their skills and keep up to date with new information and technologies. Today: ââ€"  the remit of the Academy has since been expanded to handle all volume recruitment for British Gas, including call centre and sales staff as well as induction and skills training for call centre and operational agents and team leaders ââ€"  all  recruitment is channeled through a dedicated website, www.britishgasacademy.co.uk, which has around 38,000 visitors a month ââ€"  the Academy invests around  £30 million each year recruiting and training staff ââ€"  training is delivered at a number of purpose-built facilities across the UK, stretching from Hamilton in Scotland to hatcham in Berkshire. 6.0 Performance Management Performance management is a process on performance measurement approaches, such as the balanced scorecard. While the balanced scorecard offers a framework for the collection of strategic information, performance management ensures that results are used to influence the selection of planned actions and to foster the renewal of dynamic, competitive strategy. Unlike most tools and techniques, performance management is a continuous, enterprise-wide process, rather than a one-time, isolated event. Six Performance Management imperatives are Compliance Management, Profitability Management, Cost Management, Performance Improvement, and Business Innovation 6.1 British Gas Performance Management British Gas performance appraisals Serve as an objective basis for communicating about performance and Enable the employee to differentiate between unacceptable and acceptable results. Increasing job, inform new expectations about job performance and encouraging the open and trusting relationship with employees. Performance expectations are the foundation for appraising employee performance. Standards recognize is a baseline for measuring performance. From performance standards, supervisors can provide specific feedback relating the gap between expected and actual performance. 6.2 British Gas use following steps to review employee performances Ask the employee to meet for the review; have the employee estimate progress-to-date. Begin meeting by asking employee to estimate progress-to-date toward each goal. Listen to employee’s comments and take notes. Discuss progress and praise employee, Manager and employee need to engage in fact-finding and determining progress-to-date. It is vital that  regardless of how far away employee is from meeting the goal, manager praise him/her for his/her progress-to-date. Re-negotiate goals and/or resources where deviation is significant, If the deviation is downward, manager and his employee should discuss causes and solutions to agree on appropriate actions. Appropriate actions may include increasing available resources, agreeing on activities which will enable employee to meet goals or adjust the goals downward. If, on the other hand, employee is exceeding goals, manager should discuss how added effort and/or resources may be utilized to further exceed the goal. Manager and his employee may decide to add additional goals at this time as well. Write down new agreements and set a follow-up date, Take notes during the discussion. These should be used as a summary of the agreements so that both manager and his employee can review them. A new follow-up session should be scheduled at a time when the data will be available to evaluate progress toward the goal(s). Thank employee, But what if the performance has been below agreed targets; the appraiser must be able to review and set objectives which will improve performance. Performances discussions are monitored externally to ensure consistency .Staff are introduced to a series of mutual benefits. For the individual it stressed clarity of expectations, strengths, feedback on results and the improvement in motivation and ability to independently gain recognition. For the organization it stresses performance, team sprit, accountability, reduced errors and flexibility. Performance appraisals looks forward to agree standards, targets and training that will help improve performance and achieve company business objectives. 7.0 References Armstrong,M.(2007)A hand book of human resource management practice ,10th ed†¦,London: Kogan Page Hendry,C.(1995) Human resource management a strategic approach to employment , 1st ed†¦, Oxford: Butterworth – Heinemann Marbey,C and Salaman,G. (1998) Human resource management a strategic introduction ,2nd ed†¦, Oxford: Blackwell Publishers Bratton,J and Gold,j.(2000) Human resource management theory and practice ,2nd ed†¦,London: MACMILLAN press Schuler,R and Jackson,S (1999) Strategic human resource management , 1st ed†¦, Oxford: Blackwell Publishers Allen,J.(1996) Motivating people , 1st ed†¦, London: Kogan Page Forsyth,P.(2001) Developing your staff, 2nd ed†¦, London: Kogan Page Pettinger,R and Allen,K.(2007) Weekend MBA , 1st ed†¦, West Sussex: John Willy & Sons British Gas (2009)’Valuing Employees’, web page accessed on 19/12/2009 from http;//www.britishgas.co.uk Total Success (2009) ‘Performance Appraisals’, web page accessed on 13/12/2009 from http;//www.totalsuccess.co.uk Guardian (2009) ‘ British energy industry’, web page accessed on 10/12/2009 from http;// www.guardian.co.uk British Gas (2009)’British gas academy’, web page accessed on 17/12/2009 from http;//www.britishgas.co.uk British Gas (2009)’Our business’, web page accessed on 08/12/2009 from http;//www.britishgas.co.uk British Gas (2009)’Career influencers’, web page accessed on 15/12/2009 from http;//www.britishgas.co.uk British Gas (2009)’Resources’, web page accessed on 18/12/2009 from http;//www.britishgas.co.uk British Gas (2009)’how we’ve structured’, web page accessed on 19/12/2009 from http;//www.britishgas.co.uk British Gas (2009)’Training and development’, web page accessed on 19/12/2009 from http;//www.britishgasjobs.co.uk

IN THE DISPUTE AT THE PATENT OFFICE Essay Example

IN THE DISPUTE AT THE PATENT OFFICE Essay Example IN THE DISPUTE AT THE PATENT OFFICE Essay IN THE DISPUTE AT THE PATENT OFFICE Essay IN THE DISPUTE AT THE PATENT COURT REGARDING MR. BURNS’ TRADE MARK APPLICATION Opinion I am asked to rede Mr Burns in respects to a difference originating from two hallmark applications, which have been challenged by a figure of parties. The applier has submitted two applications for trade grade enrollment, one affecting a word only’ enrollment ( Burnsey’s Bread ) , and a word and device mark’ application, which has been herein submitted as Appendix 3. I will later rede on the virtue of each resistance to the applications, and the suggested responses, separately. Ms Nadine Burns Ms Burns has challenged the enrollment of the word, Burnsey’s Bread , on the footing of subdivision 5 ( 4 ) of theTrademarks Act 1994, which regulates the construct of passing off’ . Ms Burns runs a bakeshop, which is in an indistinguishable line of concern to that of Mr Burns, and trades under the name of Burns the Bread , and Burns the Bread Again . I have discovered, by manner of seeking the public database of the Patent Office, that Ms Burns’ trading names are non registered trade Markss, and therefore overcast the direct application of the jurisprudence in this respect. However, subdivision 5 ( 4 ) ( a ) of theTrademarks Act 1994allows for a trade grade enrollment to be disallowed by virtuousness of any regulation of law†¦ protecting an unregistered trade grade or other mark used in the class of trade . Case jurisprudence has indicated that a passing off action must incorporate three demands to win: ( a ) the being of the claimant’s good will ; ( B ) a deceit ; and ( degree Celsius ) harm ( or probably harm ) to the plaintiff’s good will or repute:Reckitt A ; Colman Products Ltd v Borden Inc[ 1990 ] 1 All ER 873 ( per Lord Oliver ) . The tribunals have defined the first demand, the claimant’s good will, as a repute that has been gained by the house over the class of old ages of honest work, or by a significant outgo of money:Trego V Hunt[ 1895 ] AC 7. Given that both of Ms Burns’ bakeshops have been runing for seven old ages, it is sensible to presume under jurisprudence that Ms Burn’s has gained sufficient good will to fulfill this trial in its pure signifier. However, one must see how far this good will extends geographically, and whether it affects Mr Burn’s trade grade application. It may be possible for Mr Burns to register the trade grade on the footing that Ms Burns has non achieved good will on a big plenty graduated table to impact Mr Burn’s concern, provided that the two companies’ service radius does non overlap:Maxim’s Ltd V Dye[ 1977 ] 1 WLR 1155 ;Sheraton Corp of America v Sheraton Motels[ 1964 ] RPC 202. In respects to the 2nd trial, deceit, the action would necessitate to fulfill the trial as to confusion of beginning, which means that the populace may be placed in a state of affairs where they may be confused as to where the merchandise came from, or who supplied it:Coombe International V Scholl[ 1977 ] RPC 1. Case jurisprudence besides implies the impression of the reasonable consumer’ , in other words, would a sensible individual in the consumer’s place be expected to be able to clearly and easy separate between the two beginnings?Morning Star v Express Newspapers[ 1979 ] FSR 113. Additionally, the deceit besides needs to happen in similar industries, otherwise tribunals will by and large keep that a deceit has non occurred:McCulloch V May[ 1947 ] 2 All ER 845 ;Stringfellow V McCain Foods[ 1984 ] RPC 501. Sing these demands of the deceit trial, it would look that Ms Burns may hold cause for action in this respect. When one considers Burnsey’s Bread and Burns the Bread has similar representations, are in the same industry and may overcast the public’s ability to do a clear differentiation between the two concerns, it may be that the Patent Office will make up ones mind in favor of Ms Burns in footings of deceit. The concluding demand for a passing off action to win is for there to be harm, or likely harm, to the claimant’s repute as a consequence of this trade grade enrollment. This harm need non be touchable:Taittinger SA V Allbev Ltd[ 1993 ] FSR 641 ;Choccosuisse Union des Fabricants Suisse de Chocolat A ; Others v Cadbury Ltd[ 1998 ] RPC 117. In this respect, it may be possible that, should Mr Burns seek to put up a franchise in the same local country as Ms Burns, so the deceit may do some confusion to clients, and therefore below the belt affect Ms Burns’ repute based upon this deceit and confusion. As the instance jurisprudence suggests, the likely harm to reputation need non be touchable in order to fall within the wide and distinguishable class of harm. It would look that Ms Burns may hold evidences to fulfill the harm trial. In drumhead, Ms Burns may hold evidences to seek protection of her unregistered right to the name Burns the Bread . This right comes under subdivision 5 ( 4 ) ( a ) of theTrademarks Act 1994, and has been elaborated upon by many case in points. If Ms Burns were successful in her action, so she may seek an interlocutory injunction that would curtail Mr Burns’ ability to utilize that trade grade in the class of concern:American Cyanamid Co v Ethicon Ltd[ 1975 ] AC 396 ( per Lord Diplock ) . However, it may be in the best involvements of Mr Burns to seek a determination by the office that would register the trade grade, on the footing that Mr Burns undertakes non to run a concern that would straight vie with Burns the Bread in the same local geographic country. If Mr Burns was to do this project, so the bench may seek to keep that Ms Burns’ good will is non sufficient on a national graduated table to amount to show protection across the state. This would, in bend, mean tha t the Patent Office should disregard the challenge and registry Mr Burns’ trade grade. Mr Munch Mr Munch has written to Mr Burns in resistance to the proposed enrollment of the word trade grade, on the footing of the comparative evidences given under subdivision 5 ( 2 ) of theTrademarks Act 1994. These commissariats prohibit the enrollment of trade Markss that are indistinguishable to one registered earlier, or similar to an earlier enrollment which may take to confusion of the populace, and possible association between the two trade Markss. The two Markss must besides be in the same industry in order for protection under these commissariats to be given. Mr Munch’s trade grade was published for resistance intents on 14ThursdayMarch 2006, harmonizing to the registry of the UK Patent Office. Mr Munch has made an application in category 43 sing proviso of catering services, which is a category identical to that of Mr Burns. While Mr Munch’s grade is non at full enrollment position by the Patent Office, subdivision 6 ( 1 ) of theTrademarks Act 1994defines an earlier grade as being one which has a day of the month of application for enrollment earlier than that of the trade grade in question . Mr Munch’s initial application to the Patent Office was made on 19ThursdayDecember 2005. The common jurisprudence besides gives rise to an statement that if an applier can turn out that his or her services are provided in a different industry to that of the opposition, so enrollment will be allowed:Seahorse Trade Mark[ 1980 ] RPC 250. While it is clear that both parties to the difference have filed for enrollment of trade Markss in category 43 ( sing proviso of catering services ) , merely Mr Burns has filed in the category 30 class ( bakery merchandises ) . It would hence be sensible to reason that the two parties are in separate industries, given that Mr Burns merely supplies providing merchandises in so far as supplying mass measures of his merchandise to consumers. Mr Munch, on the other manus, specialises in big scale events, which Mr Burns does non make. Mr Munch is non a baker, and hence it would be unreasonable for this resistance to be allowed on this footing. Another common jurisprudence trial is available sing phonetically similar word Markss. Under this trial, a trade grade would non be registered if it was deemed to be phonetically similar to an earlier registered trade grade ; in so far that it would do confusion as to the beginning of the goods or services:Aristoc V Rysta[ 1945 ] AC 68. Given that the two trade Markss are non at all similar in pronunciation or sentence structure, it would be impossible for the opposition to fulfill this trial, and therefore win in an action under subdivision 5 ( 2 ) ( B ) of theTrademarks Act 1994. Overall, it would look improbable that Mr Munch would accomplish success in his resistance to the trade grade enrollment application made by Mr Burns. The earlier trade grade that Mr Munch holds the rights to, while registered and recognised for the intents of resistance in conformity to subdivision 6 ( 1 ) of theTrademarks Act 1994, does non bear important similarities to Mr Burns’ trade grade, nor does it impact the class of concern of Mr Munch in any direct manner. It has been established that the concerns of Mr Munch and Mr Burns are in separate and distinguishable industries, even though they fall within the same category for trade grade enrollment intents. It would be unreasonable for a tribunal to presume that the two trade Markss conflict with one another, as the two parties go about their concern in separate ways. Mr Burns runs a bakeshop store, while Mr Munch runs corporate events. It would be insufficient of the opposition to trust upon the statement that they have gained such important credibleness on a national and international graduated table that any usage by Mr Burns of a similar trade grade may impact upon this good will, irrespective of the industry:Oasis Shop Ltd’s Trade Mark Application[ 1998 ] RPC 631. TheOasisinstance besides bears significance in the sense that the two trade Markss in inquiry in that instance were similar, if non virtually indistinguishable, in a phonic sense. In Mr Burns’ instance, his trade grade bears small or no resemblance to an earlier registered trade grade, apart from the sharing of one word, and can non be opposed in this respect. It would be my recommendation that Mr Burns bespeak a hearing from the Patent Office, which would give him the chance to show his instance. This is to guarantee that the resistance is dealt with reasonably, and in conformity with the rules of the regulation of jurisprudence. Currently, Mr Munch has non requested a hearing through official channels from the Patent Office, which signifies that he does non desire to give Mr Burns the right of answer ; instead he intends to take action by private agencies with the Patent Office. It may good be that the Patent Office will bespeak a hearing of their ain agreement, but by bespeaking a hearing, Mr Burns would be covered in the event of absence of any such action, and it would let the Patent Office to hear both sides of the instance reasonably and in conformity with natural justness. It would hence be my sentiment that the opposition, Mr Burns, does non hold sufficient evidences to prolong an interlocutory opinion against Mr Burns, curtailing him from utilizing the grade ( or to seek amendss ) , by trusting upon subdivision 5 ( 2 ) of theTrademarks Act 1994. The two Markss are non indistinguishable, and bears small to no resemblance to one another. Mr David Burns Mr David Burns ( the opponent ) has lodged a protest against the enrollment of the device depicted in Appendix 1, submitted by Mr Burns ( the applicant ) . This challenge is made under subdivision 3 of theTrademarks Act 1994( sing the device being devoid of any distinguishable character ) , and subdivision 5 ( 2 ) of the same Act ( sing similarities to earlier registered trade Markss ) . The opposition holds the rights to the trade grade attached to this papers as Appendix 3, officially known to the Patents Office as Trade Mark Number 2311787. This image depicts a conventionalized image based on a loaf of staff of life, every bit good as the words Burnsey. Eat. Drink . The image is an artist’s feeling. The applicant’s design submitted for enrollment depicts an image of a chopped loaf of staff of life, which has non been stylised or artistically altered in any manner. Additionally, it contains the phrase Burnsey’s Bread . In respects to the resistance under subdivision 3 of theTrademarks Act 1994, such a proviso prevents trade Markss from being registered if they do non show any elements of peculiarity, or individualism, that makes that peculiar owner unique from other concerns in a similar line of work:AD2000 Trade Mark[ 1997 ] RPC 168 ;Proctor A ; Gamble’s Trade Mark Application[ 1999 ] RPC 673. This definition by the tribunal has been specialised to keep that trade Markss which depict the goods or services to which they are applied can non be held as distinctive:H. Quennel Ltd’s Application[ 1954 ] 72 RPC 36. In sing these common jurisprudence readings of subdivision 3 of theTrademarks Act 1994in the applicant’s fortunes, it is clear that there are sufficient evidences for this enrollment to be opposed. It would most likely by the opponent’s statement that, because the device merely depicts staff of life, and non in any typical signifier, it would non be possible to hol d this device registered in conformity with the Act. This can be deduced by mention to the opponent’s registered grade, which uses a conventionalized artistic design to separate the concern and its goods and services. Given this clear deficiency of differentiation, it would look that the opposition has a valid instance in jurisprudence, under subdivision 3 ( B ) of the Act, to hold this enrollment dismissed under absolute evidences. The opposition besides makes an extra claim, mentioning subdivision 5 ( 2 ) of theTrademarks Act 1994as comparative evidences for refusal. To confirm such a claim, it by and large requires an premise to be made by the tribunals, based upon some finding of fact. Under subdivision 6 ( 1 ) of the above Act, any trade grade that has an earlier initial application day of the month than the applicant’s will be considered an earlier mark for the intents of subdivision 5 ( 2 ) and, given that the opposition made the application on 3rdOctober 2002, this is clearly the instance. Furthermore, if the opposition can turn out that the applicant’s trade grade is in a similar industry to his or her ain, and such a grade would do confusion in the public head as to the beginning of the goods, so the grade may non be registered:Seahorse Trade Mark[ 1980 ] RPC 250 ;Aristoc V Rysta[ 1945 ] AC 68. Given that the applicant’s grade is virtually indistinguishable, nevertheless non expres sly, so this may be evidences for non enrollment. The applicant’s grade appears on the device as Burnsey’s Bread . The opponent’s appears as Burnsey. Eat. Drink. . This may do the populace to believe that the opponent’s grade is simply an alternate version of the applicant’s, and therefore they may be confused as to who really provided the goods. Therefore, the opposition would most likely win in seeking an interlocutory opinion forestalling the enrollment and usage of the applicant’s trade grade in its current signifier. It would be my recommendation that the applicant seek to amend his design, based upon the strength of the opposition’s instance in this affair. There is small opportunity of success if the applicant seeks to prosecute enrollment of the word and device grade in its current signifier. It would be in the applicant’s best involvements to do the image and words something typical and non-similar to others, possibly by utilizing a anonym and a conventionalized artistic design. General Conclusions Based on the information presented to me for sentiment, I would propose that Mr Burns has ground to seek to hold the word trade grade registered, nevertheless I would urge discontinuation of proceedings of the word and device grade. The resistance to the word merely trade grade seems to miss significant virtue, and may be easy defeated at a hearing by the Patents Court. However, the word and design trade grade present a figure of issues that would necessitate to be resolved before it could be passed. There is no clear defense mechanism at jurisprudence which would let the trade grade to be passed in its current province, given its similarities to other trade Markss in its industry. Therefore, I would rede Mr Burns to travel to a hearing at the Patents Court to settle the affairs between himself and Mr Munch and Ms Burns, for the grounds I have outlined above. The jurisprudence proves that Mr Burns may hold a instance against these two parties. Bibliography Books Bently, L and Sherman, B,Intellectual Property Law( 2001, 2neodymiumerectile dysfunction ) , London: Oxford University Press Cornish, W and Llewelyn, D,Intellectual Property: Patents, Copyright, Trade Marks and Allied Rights( 2003, 5Thursdayerectile dysfunction ) , London: Sweet and Maxwell Hart, T and Fazzani, L,Intellectual Property Law( 2004, 3rderectile dysfunction ) , London: Palgrave Phillips, J ( erectile dysfunction ) ,Butterworths Intellectual Property Law Handbook( 2003, 6Thursdayerectile dysfunction ) , London: Butterworths Phillips, J, and Firth, A,Introduction to Intellectual Property Law( 2001, 4Thursdayerectile dysfunction ) , London: Butterworths Legislation Trademarks Act 1994 Cases AD2000 Trade Mark[ 1997 ] RPC 168 American Cyanamid Co v Ethicon Ltd[ 1975 ] AC 396 Aristoc V Rysta[ 1945 ] AC 68 Choccosuisse Union des Fabricants Suisse de Chocolat A ; Others v Cadbury Ltd[ 1998 ] RPC 117 Coombe International V Scholl[ 1977 ] RPC 1 H. Quennel Ltd’s Application[ 1954 ] 72 RPC 36 Maxim’s Ltd V Dye[ 1977 ] 1 WLR 1155 McCulloch V May[ 1947 ] 2 All ER 845 Morning Star v Express Newspapers[ 1979 ] FSR 113 Oasis Shop Ltd’s Trade Mark Application[ 1998 ] RPC 631 Proctor A ; Gamble’s Trade Mark Application[ 1999 ] RPC 673 Reckitt A ; Colman Products Ltd v Borden Inc[ 1990 ] 1 All ER 873 Seahorse Trade Mark[ 1980 ] RPC 250 Sheraton Corp of America v Sheraton Motels[ 1964 ] RPC 202 Stringfellow V McCain Foods[ 1984 ] RPC 501 Taittinger SA V Allbev Ltd[ 1993 ] FSR 641 Trego V Hunt[ 1895 ] AC 7

Human Resource Issues Facing Companies

Human Resource Issues Facing Companies Introduction Human resource is the group of individuals who build up the work force of a company, a business or an organization. This is the team that helps steer an organization to success. The human resource department is the division charged with the responsibility of seeing to it that this team is fully effective.Advertising We will write a custom essay sample on Human Resource Issues Facing Companies specifically for you for only $16.05 $11/page Learn More It is also expected to maintain a good relationship among employee. Issues causing tension between leaders of an organization and employees are also handled by this department. The department is also charged with other responsibilities such as interviewing, attracting, selecting, training, assessing and hiring employees. This is so as to ensure stable work flow in an organization and also avoid unnecessary delays in line of duty. Workers’ welfare and grievances are also looked into by the depar tment and necessary recommendations made to the management. The human resource department is vital to a business regardless of how big or small the business is (Merkle 2006). This paper seeks to analyze factors affecting the human resource department. The paper will take as its case study human resource departments in New Zealand, a country that was hit by the Christchurch earthquake. This had devastating effects on the native businesses and to the economy at large. The human resource sector was not spared. This is largely due to the massive displacement of population. Recommendations will also be made on possible measures to mitigate these effects. Government efforts in trying to control the situation will also be discussed. Challenges Facing the Human Resource Department Despite its importance to an organization, the department faces numerous challenges. The major problem facing the department is talent shrink (Guyton 2009). As explained earlier, human resource is the actual workf orce that drives a company or business.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Without talent and skills, dismal performance is likely to be recorded by a business (Mayo 2008). Lack of talent also lowers the level of expertise exhibited by workers in an organization. The Christchurch earthquake forced many people to migrate from their homes and places of work. This caused brain drain with many businesses and companies left with few workers. Work negativity among employees is also a major challenge facing the human resource departments in many companies. Lack of job satisfaction among workers creates negativity. This may also be as a result of unfavourable environmental conditions. Natural disasters such as the Christchurch earthquake instil fear among workers and kill their morale. This fear leads to unfavourable working conditions. This trauma greatly reduces the efficie ncy of the workers and the businesses’ output. Workers also lose faith in the business’ success since they feel all their hard work would be in vain in case a future disaster destroys the business. Managing demographics has also proved to be a difficult task in the human resource department. This is the inability to balance the population of both young and old in the workforce. The young population is believed to harbour great ideas while the old population is considered to be knowledgeable and experienced. It is therefore important to integrate the two in equal measures to reap maximum benefits. Natural disasters displace populations especially the young and able. This is because they have lesser ties and are more flexible. Such people move to more secure regions in search of jobs leaving their old posts vacant. The old are left behind to run the affairs of the business in the absence of their young counterparts. This young population would also serve as future leader s of the businesses. Such businesses have no future in the market. Increased cost of labour is also a major problem facing the human resource departments. When a disaster occurs (as was the case with Christchurch earthquake), businesses are faced with brain drain as a result of migration. This causes an increase in the demand for labour.Advertising We will write a custom essay sample on Human Resource Issues Facing Companies specifically for you for only $16.05 $11/page Learn More Those experts left behind resort to hiking the cost of their services to replace the departed ones. Additional salaries for workers increase the operating costs for these businesses resulting to a decline in turnover. A scenario arises where businesses pay more to workers yet they are making less than before. This can at times lead to the collapse of these businesses (O’Brien 2009). Evidence Gathering Procedures The article uses New Zealand as its reference point. Having be ing hit by a natural disaster, the area was more vulnerable to problems facing modern business firms and settings. Focus is more likely to be on the human resource departments since they are the ones charged with restoring order in the businesses. There was need to restructure the human resource so as to prevent more damaging outcomes. Businesses used in the research are chosen randomly and the research team immediately embarked on the study. The researchers analyzed the performance of the businesses prior to and after the earthquake and documented their findings. Human resource department leaders were interviewed and their views as to the state of affairs before and after the Christchurch earthquake recorded. Those who sought anonymity were assured that their identity will not be revealed. Issues Facing the Human Resource Departments The first blow to the human resource department was talent shrink as earlier indicated. This is however a common problem in the department. It results to poor working skills and is injurious to a business since it signifies deficiency in expertise (Ulrich 1996). This phenomenon was common in the case of New Zealand whereby many people moved out of the country to seek alternative jobs in an attempt to escape the effects of the earthquake. The workforce left behind comprised of less experienced and talented people who found it hard to reverse the downward trend. Because of this demand for workers, the cost of labour shot up. This meant that the businesses would pay more for labour provided to them despite their losses and the diminishing returns. Migration of the country’s population also robbed the businesses of the much needed market for their goods and services. This triggered more problems than solutions for the businesses some of which closed down due to diminished returns.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Work negativity is also a great problem facing the human resource department in many businesses. Considering the case of the Christchurch earthquake in New Zealand, billions worth of property was lost. Those who suffered lost the morale to work hard and felt that their days of hard work had gone to waste. Some of the workers lost their homes and jobs due to tragedies such as collapsing of houses. Scores of people lost their lives during the tragedy and left their loved ones disoriented. Such uninspired workers are likely to produce diminishing returns that are of no economic importance (Towers 2007). Great demographic variations are also a common problem facing the human resource department. General imbalance between the old and the young in a business is injurious to the business. This inhibits flow of ideas in the business. It also puts the life and future of the business at risk because the young are supposed to replace the old upon their retirement. The old also gives guidance t o the young because of their accumulated knowledge and experience in line of duty. It is not surprising to see that many businesses partner the old with the young to facilitate flow of ideas. In the case of New Zealand, the earthquake claimed the lives of some of the dwellers while others migrated to avoid this disaster. This left a void in many businesses. Majority of those who fled the effects of the Christchurch earthquake were young individuals who sought to find better living and working conditions without fear and risks. Native businesses had to start employee recruitment exercises to fill the vacant positions. A lot of time and other resources were also used before the workforce could start functioning properly. Problems facing the human resource sector can be compared to a chain reaction where one action gives rise to another and the chain keeps repeating itself. Efforts to mitigate the effects of one action indirectly lead to a new reaction. As explained earlier in this pap er, one problem leads to another. Talents shrink causes demand for skilled labour. Rise in demand for labour thus results to rising costs of labour (DeGraff 2010). Increasing cost of labour will also lead to inflation. Inflation triggers increased spending and workers loose morale since every penny earned goes into settling of bills and into household consumption. Work negativity arises and workers loose the urge to work hard because of unfavourable returns. Growing dissatisfaction then results to workers moving out of the country and out of jobs to work in areas with better rewards. The migration of workers in search of better working conditions leads to demographic imbalances in the business. This demographic imbalance threatens the life of the business. This means that the ratio of old to young workers is unfavourable. This may be as a result of worker migration. This leads us back to the beginning of the cycle that is talent shrink. This is what happened in the case of New Zeala nd. Attempts to stabilize the economy by offering loans to members of public led to inflation. The inflation makes living standards intolerable and the country’s population resort to moving out of the country. The migration of the country’s population also results to talent shrink that triggers a demand for labour that leads to an increase in the cost of labour (Wright 2011). Inflation leads to work negativity which makes people to move out in search of better returns. Migration also triggers demographic imbalance further aggravating the situation. The cycle repeats itself over time. Measures should be devised to try and change this turn of events for the better. Recommendations for the Government To try and change the situation, the paper makes some recommendations on what governments should do to normalise the situation. These measures would be aimed at preventing the recurrence of the negative effects and to change the economy once and for all. The governments shoul d start by initiating policies that will reduce the flow of money in the economy. This will be made possible by suspending lending of money to the businesses. The economy should be given an opportunity to heal itself gradually. Research has shown that pumping more money into an already ailing economy is not beneficial. To stop financial institutions from lending, the government will resort to measures such as increasing its lending rates to the banks. People should also be sensitized on the negative effects of borrowing (Conaty 2011). The government can also discourage brain drain through imposing policies that discourage travelling out of the country (Esbon 2010). The government could also impose penalties to individuals going to work outside the country and encourage the spirit of patriotism. People should be encouraged to focus on the bright future ahead rather than on the dull present (Ziment 2008). The government should also import skilled labour if possible. It should also res ort to training its own citizens to curb shortage (Elwood 1996). Expertise can be said to be the driving force behind prosperity. The government can also intervene and help in the reconstruction of destroyed structures. This does not necessarily mean pumping more money into the economy. Unskilled labour can be mobilized to undertake the reconstruction exercise. Conclusion It is a fact beyond doubt that human resource departments are the driving force behind any successful business. The department should therefore be strengthened and its recommendations implemented fully. Factors facing the human resource department also affect the entire economy (Esbon 2010). The government should be at the forefront in implementing policies that would strengthen the economy thus aiding the human resource department. References Conaty, Bill. 2011. The Talent Masters: Why Smart Leaders Put People Before Numbers. New York. Crown Publishing Group. DeGraff, Jonathan. 2010. The Changing Environment of Pr ofessional HR Associations. Boston. Harvard Business School Press. Elwood, Hellwood. 1996. Trends Toward a Closer Integration of Vocational Education and Human Resources Development. New York. Crown Publishing Group. Esbon, John. 2010. Insight on human resource development. New York. Free Press. Guyton, Hall. 2009. Human Resource. London. McGraw-Hill. Mayo, Elton. 2008. Hawthorne and the Western Electric Company. Boston. Harvard University Press. Merkle, Judith A. 2006. Management and Ideology. California. University of California Press. OBrien, Michael. 2009. HRs Take on The Office Human Resource Executive. California. California University Press. Towers, David. 2007. Human Resource Management Essays. California. University of California Press. Ulrich, Dave. 1996. Human Resource Champions. The Next Agenda for Adding Value and Delivering Results. Boston. Harvard Business School Press. Wright, Patrick. 2011. CHRO Challenge: Building Organizational, Functional, and Personal Talent. Bo ston. Harvard Business School Press. Ziment, Peter. 2008. Managing Human Resource in Disasters. New York. Free Press.