Monday, August 24, 2020
With the move to representatives focused approaches inside most of associations, the issues of moral conduct and both individual and hierarchical duty require unique consideration.Advertising We will compose a custom basic composing test on Solving the Ethical Dilemmas explicitly for you for just $16.05 $11/page Learn More At present, various firms have opportunities for specialized authorities who could prepare workers to carry on morally in both formal and casual settings. Moral preparing has sway on employeesÃ¢â¬â¢ decisions as to misleading quality or rightness of their activities in workplace however a ultimate choices rely on their own perspectives and needs. Confronting moral quandaries, representatives regularly dither before settling on a decision between their prideful tendencies and charitable qualities, following moral standards or their own life sees. The issue of these internal clashes is established in befuddles between the moral gauges inside a specific association and individualÃ¢â¬â¢s arrangement of qualities. Ã¢â¬Å"Value consistency (the closeness among individual and hierarchical qualities) among representatives and their associations significantly affects authoritative commitmentÃ¢â¬ (Shockley-Zalabak, 2009, p. 105). Acquiring a significant information on moral standards, an individual despite everything can dither, choosing a specific guideline for finding the suitable way out. Thinking about the issues of fundamental good rights for tackling specific issues, a representative notification that they can cover and repudiate each other, offering ascend to peopleÃ¢â¬â¢s questions. Hence, these are close to home estimations that become the appraisal rules of misleading quality or rightness of oneÃ¢â¬â¢s own activities and conduct of others. Gauging all advantages and disadvantages of a specific good decision, an individual should set the needs and view the circumstance from different viewpoints before continuing to activities. For i nstance, relational connections between representatives can turn into the purpose behind questionable circumstances in which laborers should choose moral norms and their individual qualities. In a circumstance when an individual catches a discussion between chiefs concerning the decline of advancement for his/her closest companion and dithers on the off chance that it is allowable to educate a companion on it or keep quiet reluctant to hurt a companion and as a result of the way wherein the data was received.Advertising Looking for basic composition on business financial aspects? We should check whether we can support you! Get your first paper with 15% OFF Learn More This is the subject of the discussion and idiosyncrasies of the circumstance that issue in this individual case. As per the standards of expert morals, I ought to have kept quiet. Be that as it may, assessing the circumstance fundamentally and considering the way that a companion would lose a fascinating proposition for employment from another division without my obstruction, I would unveil the mystery. Nonetheless, this decision would be increasingly tricky if there were no proposal from another office. At that point this data would be futile for the companion and could just disappoint him/her. Sharing data that has no any effect on the truth is near spreading bits of gossip. For this situation the standards of essential rights for security and through and through freedom cover and the decision between them relies on the employeesÃ¢â¬â¢ individual needs. The human factor significantly affects the adequacy of the working procedure. Other than the expert characteristics, the significance of issues of mental similarity of the individuals from a group and their capacity to participate ought not be thought little of. The working climate and general state of mind of a group are huge for improving the viability of the collective procedure. Ã¢â¬Å"Executives revealed that they squander 7.8 hours of the week, or 2.3 months of the year, in superfluous meetingsÃ¢â¬ (Messmer, 2001, Ã¢â¬Å"Conducting compelling meetingsÃ¢â¬ ). Consequently, appraising time at its actual worth, representatives should design their gatherings in advance, putting unique accentuation on meeting the objectives. In a circumstance when an individual from a task group building up a preparation program for client service delegates watches hesitance of two individuals from a group to make a commitment to the venture and becomes acquainted with that they spread bits of gossip about his/her absence of capability, an individual faces an ethical situation. From one perspective, the conduct of these representatives is amateurish and unacceptable. Then again, settling on specific choices, an individual ought to think about the moral standards and think about the results of oneÃ¢â¬â¢s decisions, remembering the accomplishment of the program. In this circumstance I would follow the standards of moral lead straigh tforwardly, requesting that these individuals put forth more attempts, pointing at the target reasons of my disappointment without referencing any gossipy tidbits or other temperamental wellsprings of data. Ã¢â¬Å"The estimation of correspondence is equivalent to the expenses in addition to the endeavors of what youÃ¢â¬â¢re imparting to the intensity of perceptionÃ¢â¬ (Sierra, 2003, Ã¢â¬Å"SierraÃ¢â¬â¢s hypothesis of communicativityÃ¢â¬ ).Advertising We will compose a custom basic composing test on Solving the Ethical Dilemmas explicitly for you for just $16.05 $11/page Learn More Disregarding the significance of the air inside a group, business ought not be yielded to talking about the relational connections. Regardless of whether different representatives don't actualize standards of corporative morals, it doesn't imply that an individual should place them in their own coin. Guaranteeing the essential rights for their representatives and considering the moral preparing wh ile at the same time arranging the companyÃ¢â¬â¢s programs is relied upon to improve the adequacy of its working procedures. The human factor and closeness among individual and authoritative frameworks of qualities assume a significant job in companyÃ¢â¬â¢s achievement. Assessing the rightness or misleading quality of a specific activity, workers actualize moral standards simply in the wake of adjusting them to their own perspectives. Reference List Messmer, M. (2001, June). Directing successful gatherings. Key Finance, 82(12), 8Ã¢â¬9. Shockley-Zalabak, P. (2009). Basics of authoritative correspondence information, affectability, abilities, values (seventh ed.). Boston: Pearson Education. Sierra, L. (2003, June/July). SierraÃ¢â¬â¢s hypothesis of communicativity. Correspondence World, 20(4). This basic composition on Solving the Ethical Dilemmas was composed and put together by client Salvador Buckley to help you with your own examinations. You are allowed to utilize it for research and reference purposes so as to compose your own paper; in any case, you should refer to it appropriately. 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Saturday, August 22, 2020
Modivication - Essay Example While I have about six years aptitude in the fields of hardware, programming, and the upkeep of PC gadgets, I have to learn more data through examination at Coventry University. As of now I have worked 2 years in the field of hardware gear fix at a set up PC organization; this has persuaded me towards proceeding with this way and creating it as a side interest and ability. In my last year of study at Coventry University, I have chosen to pick a last year venture that will profit my future business. The undertaking I have picked incorporates programming and PC equipment - the venture is a Robot vehicle which is remotely constrained by a pc console. The last year undertaking will add to encounters that I have to go into business. I can control the robot vehicle, and can move it every which way; in managing most gadgets, estimations, types of gear and electrical machines, this experience will qualify me to illuminate the majority of the equipment and programming issues - I will have the option to effectively and proficiently discover sound arrangements. Furthermore, I will achieve more involvement in the made parcel of projects and robot models, explicitly how to utilize them to serve the innovation field. There are numerous organizations and associations that require specialized knolwedge. As a result of their business goals these partnerships are prepared to offer material and good help if the understudy can give them aptitude, abilities, and ability. The understudy can empower access to these associations by building up a dream for the future that will direct business ventures. Im qualified to manage numerous hardware issues, just as small scale electronic gadgets and have the capacity to make programming program codes to control those gadgets. I likewise have great involvement with electronic emergency the executives during my time of study and research center field work. There is a power pushing me to proceed my
Saturday, July 25, 2020
A Holistic View on DBMS / Database Technologies Data is at the centre of most of todayâs businesses and companies must pay close attention to how they store, access and use data. One of the systems at the heart of current data management is a database management system.But as with most technology products out there, people have the ability to choose from a wide range of database technologies and systems. Picking the most convenient and relevant for your business can be difficult. © Shutterstock.com | Bakhtiar ZeinThis guide will explain what database management systems are and what are the benefits of using one. Weâll also explain some of the most common distinctions between these technologies and provide a few tips on how to select the best system for your business.INTRODUCTION TO DATABASE MANAGEMENT SYSTEMSWhat are database management systems (DBMS)? First, itâs good to understand the different components of DBMSs. At the core of a DBMS is a database, which is essentially an organized collection of data. The data in the database is modeled in a manner, which helps support processes that seek information.Creating a database is simple, but you also need to be able to use the database for different functions. This is where database management systems come into play.A DBMS is a computer software application, which helps to interact with the user of the database, different applications, as well the database itself in order to gather and analyze data. A DBMS allows interaction with the data, whether it is to create, analyze, delete or change the data within a database.While the basic function of DBMSs are essentially the same, there are certain distinctions between different solutions. Therefore, DBMSs are often further categorized into separate groups based on:the model they support,the type of device they run on,the language they use to access the database,the internal engineering of the software.What do database management systems do?Understanding the idea behind database management systems is easier if you understand the use of these systems. The DBMS provides users four core functions. These are the ability to create, retrieve, update and manage data. These functions are enabled by the way in which a DBMS helps manage three core aspects:the data,the database engine, which allows data to be accessed, locked and modified,the database schema, which defines the logical structure of the database.Management of these foundational element s allows DBMSs to perform different procedures related to the four core functions mentioned above. With a DBMS, users can perform a variety of actions including:Data managementData definitionTransaction supportCurrency controlRecoveryFacilities to import and export dataUser managementBackupPerformance analysisIn essence, a DBMS provides users a centralized view of data. For example, businesses might use a DBMS to collect information on customers, but also for operational purposes such as accounting. As weâll see in the section below, this can have many benefits.Examples of DBMSsWeâll be looking at different database technologies later on in the guide, but itâs helpful to mention some known examples of DBMSs. Well-known DBMSs include applications like:MySQLPostgreSQLOracleSybaseIBM DB2Check out the YouTube video below to understand the basics of DBMSs: WHY DATABASE MANAGEMENT SYSTEMS ARE IMPORTANT?As the above shows, a DBMS can have a number of functions. The complexity of thes e systems has evolved and in general, the software is often divided into two main categories: the general-purpose DBMSs and the special-purpose DBMS. Since DBMSs can conduct complex tasks or perform more specified roles, countless groups of people benefit from them.Typical database management system users include:Database administratorsDatabase designersApplication programmersEnd usersYet, it would be too easy to simply write-off DBMSs as software only IT-personnel need to use. There are huge benefits to using DBMS technologies, which means understanding the different systems is crucial for any business person or individual working with data.The benefits of database management systemsPerhaps the most crucial advantage of DBMSs is how it allows the end users of the application, as well as the programmers, to access and use the same data. More importantly, this happens without jeopardizing data integrity. A DBMS provides data independence; it offers flexible access to data and guarant ees access without forcing the user to necessarily understand where the data is located. To users, this kind of data independence can remove the concern over any possible changes to the structure of data.A business could easily add new information to the database, as its operations develop and change, without disruption of the existing system. Data loss or operational problems will be limited by using a DBMS.A DBMS can also enhance the integrity and security of the data. Since itâs possible to allow different levels of access to the same data, the data wonât be easily compromised. As most DBMSs also mean data is located in a physically different location from the user, the security of the data increases further.In addition, the core functions include tasks such as backup and recovery of the data. This guarantees data isnât jeopardized while itâs being accessed and modified. Overall, it ensures uniform administration procedures for data.Finally, it must be mentioned that sinc e DBMSs can be operated remotely, itâs possible to outsource data administration. This can be especially useful for small businesses, which might not have the resources to conduct data administration themselves.TYPES OF DATABASE TECHNOLOGIESAs mentioned briefly above, there are different database technologies. Each technology offers its own pros and cons and below is a look at some of the most common technologies.Single- vs. multi-file databasesA notable difference between technologies can be whether they are single-file or multi-file databases.Single-file databaseA single-file database is the simplest database structure, as it consists of unified information, which can often be used and accessed in a pre-determined manner. Complexity in a single-file database is not commonplace.While this type of technology can provide benefits to narrowly defined data, which organizes in a limited manner, it can offer limited possibilities for use when dealing with large sets of data. For exampl e, different single-file databases donât interact with each other, even though they might consists of the same information. Therefore, when you update one database, your other databases wonât automatically include these changes and could thus contain wrong information. Single-file databases must also be all in the same location, which can cause difficulties in storage and increase the security risk of the data.Multi-file databaseAs weâve increased collection of data, the complexity of data has also risen. Much of the data we use is not in the above, unified format. A multi-file database links different data formats together and allows a more flexible way of organizing and using data. It provides users with the ability to link between different data sets and make sense of them.Furthermore, a multi-file database provides the advantage of splitting the database and using it from different locations. This provides the technical advantage of speed, as multiple users can access the information quicker than if it was located in the same physical location or disk.Relational vs. non-relational databasesAs the above distinction might have shown, a majority of todayâs DBMSs are multi-file databases. But these can be further organised in a different manner. One of the most common options to choose between is relational vs. non-relational databases.Relational databaseThe most basic model for DBMSs is the relational database model, often referred to as RDBMS. This means that the multi-file databases mentioned above, are linked together and data from separate files can be used and accessed from different locations.The strengths of this model are similar to the strengths of DBMSs. The relational database structure is flexible and reliable. Since itâs such an established technology, the costs and risks associated with it are small.Nonetheless, there are weaknesses to RDBMSs, with the majority of them relating to specific performance issues. Relational models require pre-determined formats, which can limit the complexity and often result in issues if information is added with a different format. Thereâs also lack of support for complex base types, such as drawings.Note that the common relational databases are often referred to as SQL databases. The SQL refers to the programming language (Structured Query Language) and many RDBMSs, such as Oracle and MySQL, use this language for creating and processing databases.Non-relational databaseThe opposite of a relational database is a non-relational database. Since relational databases are often referred to by their programming language, SQL, the non-relational databases are known as NoSQL databases.These models are designed to bypass the problem of accessing data, which is not typically structured in a standard model. It therefore provides more scalability and flexibility to relational databases. In fact, non-relational databases can often be stored in a single-file format, because the databases are d ocument-oriented rather than structured.Non-relational technologies allow the use of non-structured data, such as videos, or photos. These datasets can be categorized in a number of ways, with pre-determined fields.The downside is that this kind of database categorization requires extra processing power. The requirements of the technology can add a strain, not only for the physical requirements, but also for the cost effectiveness of the system.Centralized vs. distributed databasesDatabases can also be stored in different manners. The most common distinction between different ways database systems are organized is between centralized and distributed databases.Centralized databaseDatabases were typically centralized, which means stored, located and maintained in a single location. In the past, this was due to the technological limitations of computers. Under this approach, the data can be accessed from different places, but the data itself is stored in a central computer or database, in a single database file.Centralized databases benefit from enhanced data integrity and minimized data redundancy, since the data is only found in a single location thereâs only one primary market of it. Securing this database can be easier, as you only need to secure the single data location. Overall, the maintenance cost of the data is minimized.On the other hand, the database access relies quite heavily on network connectivity. Since the data is only stored in a single location, problems in access can result in total loss of data access. Naturally, faults in storage could potentially lead to full loss of data, which could be catastrophic for businesses.Distributed databaseTo counter some of the problems with centralized databases, distributed databases have become a popular option. In these systems, the data is stored in multiple physical locations. Furthermore, the distributed databases can be divided into homogenous and heterogeneous databases. The system includes a multi-f ile system, controlled by a single, central DBMS.The benefits of distributed systems are flexible in the sense that they provide more security in case thereâs a fault in the system. Retrieving lost data is typically easier and faster in a distributed system. Often they also provide better access, as data can be accessed via multiple networks.The downside is that the creation of a distributed system can be more complex. These DBMSs are based on a hierarchical structure, making it harder to maintain data. Data redundancy can increase in a distributed system. Furthermore, since the data is scattered and provides multiple access points, securing the system can be harder.Column-oriented vs. row-oriented databasesFinally, DBMSs can differ in how the data is stored. In most instances, DBMSs are either column-oriented or row-oriented.The differences are more evident once you understand that relational databases typically provide data in a two-dimensional table. This database is essentiall y a selection of columns and rows. But in order to access this data, DBMSs have to use either a column-oriented or row-oriented approach of collecting the data. This means data is either read as a column format or a row format.Column-oriented databaseA column-oriented system means the data is stored as sections of columns of data. This means a single column consists of the values and datasets of that column and there can be a number of these columns within the database.Itâs typically used in database management dealing with data warehouses, clinical data and customer relationship management (CRM) systems. The approach is beneficial for these types of tasks because column-orientation helps normalize the data and read different data sets relating to the same field efficiently.But since a column-oriented database focuses on a whole column, the more complexity your data queries involve, the harder it can be to perform using this approach.Row-oriented databaseOn the other hand, a row-o riented database sees the data stored in sections of rows, rather than columns. The aim is to limit the effort in receiving data regarding a particular query. In fact, many relational database management systems tend to favor a row-oriented approach. For example, online shopping websites often use row-oriented databases for fetching product information.While this approach can provide data efficiently and quickly, it isnât efficient when you require the use of a whole dataset. For example, if you were looking for information over personnel earning a specific salary, gathering this data would take an enormous amount of time under a row-oriented approach.SELECTING A DATABASE MANAGEMENT SYSTEMAs the above shows, there are a number of options available when it comes to database management systems. Whilst the main benefits of DBMSs remain the same, the tasks and needs of the user are essential in determining the right type of technology.Overall, when you are deciding on a DBMS, you shou ld consider these three aspects:The complexity of data â" if you are operating multi-file databases, you definitely want to consider using appropriate and the more complex DBMSs available. In fact, under these circumstances it might be a good idea to consider outsourcing your database management. On the other hand, if you are dealing with a single-file database, you are most likely able to manage it without a complex system or understanding of DBMS.The structure of data â" you also need to consider the way the data is structured. As the above showed, if you are looking for a DBMS for customer database management, a column-oriented software is better than row-oriented. It is important to determine not just how the data is stored, but also how youâll use it.The feature requirements â" naturally, you must also keep in mind feature requirements, such as operational requirements. Certain DBMSs donât operate on platforms such as Linux or Windows, while others could use a programmin g language you are not aware of. Furthermore, since certain approaches, such as distributed databases require much more from the hardware itself, it might not be a cost effective option for your business.Finally, you should consider the kind of development and support the DBMS provides for you. This is especially important for business users, as your needs might evolve as years go by. You donât want the DBMS to restrict your ability to upgrade later and additional software support can be crucial to ensure your business isnât damaged while you sort out the issues with the DBMS.
Friday, May 22, 2020
The Plebeian TribuneÃ¢â¬âor tribuni plebisÃ¢â¬âis also known as the tribune of the people or the tribune of the plebs. The plebeian tribune had no military functionÃ but was strictly a powerful political office. The Tribune had the power to help the people, a function called ius auxilii. The body of the plebeian was sacrosanct. The Latin term for this power is sacrosancta potestas. He also had the power of the veto. The number of plebeian tribunes varied. It is believed there were originally only 2, for a short time, after which there were 5. By 457 B.C., there were 10. The Plebeians Secede The office of plebeian tribune was created in 494 B.C., after the First Secession of the Plebeians. In addition to the two new plebeian tribunes, the plebeians were allowed two plebeian aediles. The election of Plebeian Tribune, from 471, after the passage of the lex Publilia Voleronis, was by a council of plebeians presided over by a plebeian tribune. When the plebeians seceded in 494, the patricians granted them the right of having tribunes with greater power than the patrician tribal heads. These tribunes of the plebs (plebeian tribunes) were powerful figures in Romes Republican government, with the right of veto and more. A patrician, Claudius Pulcher had himself adopted by a plebeian branch of his family so he could run for the office of plebeian tribune under the plebeian name of Clodius. Source A Companion to Latin Studies, by J.E. Sandys
Friday, May 8, 2020
The Roman Empire The Roman Empire was a strong hold over the Mediterranean for many years. Being the goal of most all world leaders, the Romans wanted land along with their power. They set their eyes on the valuable lands around them and the Mediterranean world as well as parts of Northern Europe and Asia. The Roman civilization and culture was much influenced by the Phonetians and Greeks. Later, the Romans were in control of these lands and their people. Three of their prize provinces held at much value to them were Thrace, Macedonia, Greece. These three lands were all located in the same area, providing a throughway to Rome for trade routes from China and the Middle east. Thrace, being on the south western coast of the Black SeaÃ¢â¬ ¦show more contentÃ¢â¬ ¦Many scholars and philosophers had began to discover the longtime mysteries of the world. The Greeks had a system of writing and were very well educated. They were eventually taken over by King Philip V of Macedonia. He made and alliance with G reece and gave them military aid in order for control of their government and people. King Philip dreamed to make Macedonia a world power and intended on starting in the Mediterranean. Rome had also set these same goals for their future and there was nothing stopping them. One of PhilipÃ¢â¬â¢s allies, Hanibel, went against him and fought him for Macedonia. The Macedonians allied with the Carthagenians and the Romans with the Aetolian League. By 168 B.C. Rome had Macedonia in their command. After this, the Archaen League in Greece sought freedom after the long rule of Macedonia. They tried to fight against the mighty army of the Romans, but this only resulted int he destruction of the city, Corinth. In 146 B.C. the Romans had abolished all leagues in Greece, and most trade was stopped in the big port cities. Rome would be over this land for sixty years to come. Meanwhile, the Romans realized the value of such things like gold. They soon found out that deposits of gold and other min erals were in the uncultivated land of Thrace. The people of Thrace were for the most part, barbaric, warlike, and unorganized. The Romans did not have as many troubles obtaining this land, considering the peopleShow MoreRelatedThe Roman And Roman Empire1068 Words Ã |Ã 5 PagesThe Roman Empire, which was centered in the city of Rome, was the most extensive western civilization of ancient times. With its major advancements and prosperity it is hard to believe that the Roman Empire suddenly collapsed and fell into a time known as the Dark Ages. After a period of struggles for the Roman Empire, the empire gradually fell. Rome was the most successful civilization of its time. Its strategic location in the center of the Italian Peninsula and the fertile plains that supportedRead MoreThe Roman Of Roman Empire Essay1234 Words Ã |Ã 5 Pages The Roman scutum was a large body shield used in battles, sieges, and gladiator fights. 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However, to fully understand how their hearts were revived for Christ and how God had His hand on them we must take a look at the past of the Romans AfterRead MoreRoman Empire871 Words Ã |Ã 4 PagesThe Roman Empire is known as one of the greatest empires of all time, blossoming politically, economically, and culturally. Rome was quickly expanding, reaching as far as North Africa. When Octavian came into power, the Pax Romana, or Ã¢â¬Å"Roman Peace,Ã¢â¬ began. However, this long peace may have triggered the beginning of the end of the Roman Empire. Because Rome was not distracted by conquering foreign lands, its citizens relaxed and lived in luxury. There did not seem to be any goals they did notRead MoreThe Roman Empire And The Romans1815 Words Ã |Ã 8 PagesIn Roman history, it is often true that history was written by the victors, and given the large expansion of the Roman Empire, the Romans likely wrote over the accounts of the civilizations they took over, adapting the new provinces into their way of life and assimilating Roman culture into new facets of outlying territories way of life. The Roman Empire and Aug ustus had the ambition to expand north, going east of the Rhine where they had never gone, to take over new territory and the tribes thatRead MoreThe Roman Empire1551 Words Ã |Ã 7 PagesStep 1: Plan What kind of technology in the Roman Empire affect its growth the most? I will be investigating from the start of the Roman Empire in 753 BCE to when the Western Roman Empire fell in 476 CE. This investigation will have a broad scope while investigating and include things from the Roman Legion to aqueducts and concrete. This investigation will not include technology that was not widely used to better the Roman Empire. The research question will answer my question by conducting researchRead MoreThe Roman Empire Essay1697 Words Ã |Ã 7 Pages The Roman Empire, arguably one of the greatest civilizations to have ever ruled here on earth. The story is that it was founded by two brothers, Romulus and Remus, sons of Mars, the God of war, and raised by a she-wolf. After killing his brother for crossing his wall, Romulus went on to become the first king of Rome, which was named for him. Later when the men of Rome wanted noble women to be the mothers of their children, they conceived of a plan that included deceiving the SabinÃ¢â¬â¢s and kidnappingRead MoreThe Roman Empire912 Words Ã |Ã 4 PagesPaper B To many people, the mention of the Roman Empire invokes thoughts of gladiators, debauchery, and the abuse of power. To others, it brings visualizations of classic statues, beautiful temples, and mythological gods. The Roman Empire was all of that and more. The saying, Ã¢â¬Å"Rome wasnÃ¢â¬â¢t built in a dayÃ¢â¬ is true and its fall and decline happened gradually as well. Ancient Rome has inspired volumes of historical works, theatrical plays, and even movies in more recent times. More specifically,Read MoreThe Roman Empire Essay1216 Words Ã |Ã 5 Pagesvictory. RomulusÃ¢â¬â¢s story influenced many Romans but, what really happened was Romans were under Etruscan rule for many years as slaves until the Romans rebelled and overthrew their masters. Romans were discouraged by Greece thinking Rome would be easily swept away. Rome was attacked by many barbaric tribes including fighting a war with the Etruscans but triumphed again and again. Rome started with nothing and worked it s way to the top, as nothing could break the Roman spirit, and their drive to dominateRead MoreThe Roman Empire903 Words Ã |Ã 4 PagesOne of the greatest empires in history is the Roman Empire, but ironically what makes it one of the greatest is also what lead it to start falling apart. In other words, many different factors lead Rome to its success and prosperity, but these factors also are the ones that initialize the ruin of the republic. Different authors such as Polybius, Cicero, Sallust and Plutarch describe several of these factors that lead the Roman Empire to its glory and failure. Polybius relates RomeÃ¢â¬â¢s success to its
Wednesday, May 6, 2020
Workshop 2, week 3 Syndicate 1 1. The collapse of Trio Capital demonstrated the way in which hedge funds and funds of hedge funds can be overly complex, unclear and lacking in transparency, particularly for retail investors. a. We will write a custom essay sample on Ltcm (Long Term Capital Management) or any similar topic only for you Order Now Briefly summarise what has happened in the case of Trio Capital last year in 2012 in Australia The collapse of Trio Capital is the biggest superannuation fraud in Australian history. Trio Capital was the trustee of a numbers of super funds governed by the APRA (Ryan, S. , 2011). It also had a number of managed investment schemes, like ARP Growth Fund and Astarra Strategic Fund. An American lawyer, Jack Flader, controlled the hedge funds in the Caribbean in behalf of the company with the $180 million from Trio CapitalÃ¢â¬â¢s schemes (Ryan, S. , 2011). When those funds collapsed, Australian investors funds disappeared. The company had very poor corporate governance, and at least one of the directors had fraudulent conduct and has gone to jail (Ryan, S. , 2011). Liquidators have record $300 million assets, but more than $ 200million are still missing (Ryan, S. 2011). More than 6000 investors lost money and some of them lost their entire retirement savings (Ryan, S. , 2011). And 5000 of those investors share $55 million taxpayer-funded levy to compensate the loss (Ryan, S. , 2011). However more than 600 investors will not get any compensation because the hedged funds they invested were self- managed and not governed by the APRA (Ryan, S. , 2011). 2. Discuss th e regulations that were in place with regard to hedge funds in Australia and what the changes that are in place are. Firstly, Lacking of universal definition of Ã¢â¬Å"hedge fundsÃ¢â¬ has been a problem. Hedge funds have five unique characteristics defined by the regulations. According to Class Order [CO 12/749] Relief from the shorter PDS regime, a responsible entity using expression of Ã¢â¬Å"hedge fundsÃ¢â¬ must exhibit two or more characteristics from the following list: (i) Use of investment strategies intended to generate returns with low correlation to equity and bond indices and/or complex investment structures (ASIC, 2012) (ii) Use of everage to increase returns (ASIC, 2012); (iii) Use of derivatives for speculative purposes (ASIC, 2012); (iv) Use of short selling (ASIC, 2012); or (v) Performance fees (in contrast to fees based on funds under management (FUM)) (ASIC, 2012). However, after the scale collapse of Trio Capital and other funds, hedge funds mangers might try to avoid labelled as hedge funds due to poor reputation. Secondly, improving disclosure promote more efficient capital market, help disclosure relevant information, reduce the possibility of omitting important information, concentrated on the information need of the investors, and be flexible to adapt investorsÃ¢â¬â¢ information needs changes (ASIC, 2012). Under Corporations Act. 3 Pt 7. 9 requires the Product Disclosure Statement need to be prepared to the offer of interests, and ongoing disclosure obligation and requirements on advertising and publicity for the offer of interests(ASIC, 2012) . In detail, PDS must: (a) Be worded and presented in a clear, concise and effective manner (s1013C(3)) (ASIC, 2012); (b) Make specific disclosures (s1013D), including among other things about the significant risks associated with holding the product (ASIC, 2012); and (c) Include all other information that might reasonably be expected to have a material influence on the decision of a reasonable person (when investing as a retail client) about whether or not to invest in the product (s1013E) (ASIC, 2012). In addition, Ch 5C has further requirements on hedge funds, including the registration need to be label as a managed investment scheme operated by a responsible entity which holds an Australian financial services (AFS) licence, and to have a scheme constitution and compliance plan (ASIC, 2012). 3. Describe the roles of investment banks and merchant banks, with an emphasis on the nature of their off -balance-sheet business, in particular mergers and acquisitions. The merge and acquisition services income of the investment banks and merchant banks are large. In 2003 the total amount of advisory fees that charged exceeded $596 million in USA, suggesting that investment banks earned a significant amount of income for providing MA advice (Walter, Yawson Yeung, 2007). The advisory services offered by investment banks usually related to various aspects of the acquisition and sale of company and assets such as business valuation, negotiation, pricing and structuring of transactions, and procedure and implementation (Water, et al. , 2007). One of the most important analyses is called dilution analysis, which requires updated skills about M A accounting. Investment banks also provide Ã¢â¬Å"fairness opinionsÃ¢â¬ which usually involved documents attesting to the fairness of a transaction (Water, et al. , 2007). In some cases, firms interested in M A advice will contact an investment bank directly to process a transaction in mind. However, in the majority cases, investment banks will pitch ideas to potential clients. After a general introduction of investment banks services in merger and acquisition, the specific roles will be provided below: First, investment bank plays an advisory role for both buyers and sellers. When investment bank takes the role of an advisor to potential sellers, this is named as a sell-side engagement (Water, et al. , 2007). On another hand, when investment banks act as an advisor to the acquirers, this is called a buy-side assignment (Water, et al. , 2007). Other services include advising clients on hostile takeovers, joint ventures, h, buyouts and takeover defense. Secondly, investment bank also plays a due diligence role. Due diligence means gathering, analyzing and interpreting the target companyÃ¢â¬â¢s financial information, compared with its historical and projected financial results, assessing potential synergies and evaluating operations to identify opportunities and challenges (Water, et al. , 2007). Due diligence is used to investigate the risk and give client a true financial picture of the acquiring company. Clear the benefits and challenges of the transaction. Off balance sheet business means the business involved an asset or debt or financing activity is not record on the companyÃ¢â¬â¢s balance sheet (Wikipedia, 2013). For example, financial institutions have business like asset management or brokage service to their clients. The assets (often securities) usually belong to the clients directly or in trust, the company has no direct claim to these assets or has no direct obligation to these liabilities (Wikipedia, 2013). The company usually has responsible for some fiduciary duties to the client. Financial institutions may report off Ã¢â¬âbalance sheet items in their accounting statements or may also refer to Ã¢â¬Å"assets under managementÃ¢â¬ on off balance sheet items. Under current accounting rules, the accounting distinction between on and off-balance sheet items are quiet detailed and depend on the degree of management (Wikipedia, 2013). In this case, investment banks help buyers and sellers to process the transaction in merge and acquisition. The assets and liabilities involved in merge and acquisition is directly controlled by the buyers and sellers rather than the investment banks. Hence these assets or liabilities should be recorded on the off-balance sheet of the investment banks. Syndicate 2 1. Describe the key factors, strategies that led to and the lessons learned from the demise of Long Term capital Management. Provide a brief summary of what happened and what were the strategies used by the fund. ( ,reference reading , reading ) Summary of what happened: Long-Term Capital Management was a hedge fund management company that involves absolute-return trading strategies accompany with high leverage nature. The firmÃ¢â¬â¢s key hedge fund which called Long-Term Capital Portfolio initially succussed with after fees yearly returns over 40% in its first years. However due to the influences from Russia financial crisis and its high leverage, in 1998 it lost $4. 6 billion in less than four months. There were a wide range of companies and individuals affected by LTCMÃ¢â¬â¢s loss. In order to prevent chain reaction, Federal ReserveÃ¢â¬â¢s financial intervention and other companies taken over required and the company closed down in early 2000. The strategies: Initially, the company use complex mathematical model to analyse fined income bond to demonstrate arbitrary trade (usually pick up American, Japan and European government bond) Government bond is a term contract, which means in the future, at a fixed time, they will receive a fixed amount money. When the bond firstly issued, the difference of price has been minimised. Hence, according to economic theory, any price gasp will be fulfilled by arbitrary. The price difference between 30 years government bond and 29 times 9 month bind should be very small. And both of them will be mature about 30years later. However these two bonds will have slightly difference due to liquidity difference. So through a serious of financial techniques, buy 29 year 9 month bond and sell 30 years bond before the 30 years bond just issued, the profit becomes possible (Edwards, F. R. , 1999). But using the price difference and arbitrary was not sustainable. Hence the LTCM must use high leverage to generate more returns. In 1998, the company only had 47. 2 billion by them self, but financed funds about 1245 to 1290 billion, which means the leverage ratio exceed 25 (Edwards, F. R. , 1999). And the majority of the funds are invested in derivatives which is extremely risky (Edwards, 1999). Lessons: Limited leverage should be required for companies to reduce solvency risk. Arbitrary will not sustainable for the long period. The company lack of sustainable strategy. Disclosure of information is quiet important. This will reduce the investors gambling act and let them realise the true risk. 2. Refer to the case of LTCM. Imitation is said to be the sincerest form of flattery. What problems does this create in financial markets? Does this cause financial market crises or is it only a problem when a crisis occurs? Problems: Leverage ratio exceeds to 25, which is too high. Arbitrary is not sustainable, hence the long term investment strategy is absent. The funds amount is large; hence it is difficult to recover the loss. This will increase the possibility of the financial crisis to happen. Because LTCM is extremely high risk company, even though all the companyÃ¢â¬â¢s partners are graduated from worldÃ¢â¬â¢s leading universities like MIT Harvard, and they have complex mathematic model, but its high leverage financing structure and business activity nature (e. g. edge, derivative) determined LTCM is an extremely high risk company. Those high-educated partners use other personÃ¢â¬â¢s money to take risk without nominating the true risk. If the principal knows the risk, they might not invest in this company. As one company failure will cause others loss money. If the same investment strategies apply to all the companies in this industry, then the failure will expand to the whole industry, and have various chain reactions. Hence it is not only a problem when financial crisis occur, it actually will becomes the perpetrator to cause the financial crisis. . Explain the structure, roles and operation of managed funds and identify factors that have influenced their rapid growth. Structure: the variety of assets is wider same as the management styles range. Some portfolios are conservative and some are aggressive. Different structure is aim to achieve different portfolio goals, timeframe and risk tolerance (ASX, 2013). Roles: A management fund is a tool for investors to accumulate wealth. Managed funds can invest in a portfolio rather than a single security. The portfolio assets include wide range of financial products like domestic shared, international shares, fixed income securities, unlisted private companies and specialist sectors (ASX, 2013). Thereby the diversification of the portfolio reducing the risk of single security falls. Also managed funds can provide professionally managed portfolio to meet the need of customers who do not have time or the skill to manage (ANZ, 2013). Also managed funds can be bought and sold freely on ASX like share, hence the liquidity risk is low, and if you need money you can immediate trade at current price (ASX, 2013). What is more, it could help start at small, which means investor can invest a small amount of money and reach the same diversification as the large amount money (ANZ, 2013). Operation: Managed funds invest clientÃ¢â¬â¢s money on the behalf of clients. They generally put same appetite clientsÃ¢â¬â¢ money together to the selected portfolio (ANZ, 2013). The portfolio assets include wide range of financial products like domestic shared, international shares, fixed income securities, unlisted private companies and specialist sectors (ANZ, 2013). Factors influence their rapid growth: There are four factors influence its rapid growth. Firstly, entry, exit and ongoing management fees reduce the return (ANZ, 2013). Secondly, diversification can limit portfolio risk but it may also dilute profits (ANZ, 2013). Thirdly, there might be more tax payment compared with funds managed by client themselves, or more adjustments made by the portfolio manager, more tax applies (ANZ, 2013). Fourthly, the owner lost control of the money (ANZ, 2013). Losing control of your money Ã¢â¬â others may be involved in making decisions regarding where your money is invested. Reference List: ANZ. (2013, March 15th). Managed Funds. Retrieved from: http://www. anz. com/personal/ways-bank/work-life-financial/personal-finance/managed-funds/ ASIC (2012, September). Hedge funds: Improving disclosure. Retrieved from:http://www. asic. gov. au/asic/pdflib. nsf/LookupByFileName/RIS-hedge-funds-published-18-September-2012. pdf/$file/RIS-hedge-funds-published-18-September-2012. pdf ASX. (2013) Managed Funds. Retrieved from http://www. asx. com. au/products/managed-funds. htm Edwards, F. R. (1999) Hedge Funds and the Collapse of Long Term Capital Management, Journal of Economics How to cite Ltcm (Long Term Capital Management), Essay examples
Tuesday, April 28, 2020
Table of Contents Abstract Introduction Literature review Research methodology Results Conclusion References Abstract For a long time, conventional human resource management either underestimated or ignored the role played by talent management in the process of recruiting employees. until recently, and due to the impact of globalization and changing marketing trends, strategic human resource management that integrates an incorporates talent and knowledge management has been adopted and implemented by quite a number of leading organisations.Advertising We will write a custom article sample on People resourcing and talent management specifically for you for only $16.05 $11/page Learn More Indeed, great goals and objectives set forth by a business organisation may not be achieved by an ordinary professional workforce; it is vital to integrate individuals with specific talents to realize the very goals. It is against this background that this paper explo res the irrefutable role played by talent in modern human resource management while at the same time debunking the myth that talent management is a fancy term with negligible influence in human resource management. Introduction Talent management is a recent development in human resource practices as many organisations are now shifting from traditional ways of recruiting and retaining high skilled employees. while talent management may be perceived in other quotas as a fancy name for human resource or personnel development, it is imperative to note that there needs to be a paradigm shift in the modalities used by organisations to hire employees in order to survive in this hypercompetitive and dynamic world economy (Chaffey Wood, 2006). Besides, organisations that are prudent enough in managing human resource clearly understand that achieving best organisational outcomes requires more than just professionalism in the workforce; some talent has to identified, nurtured and retained. Da ta obtained from most empirical research studies demonstrate that managing talent has consistently grown to become one of the integral concerns when managing organizations. Needless to say, there are myriad of interplaying factors that have necessitated this paradigm shift in hiring employees. For instance, the changing business trends as well as the cultural, social, economical and demographic aspects have largely impacted organisations on a global scale in the sense that managing human capital has turned out to the launch pad for impressive organizational performance (Boxall Purcell, 2011). The manner in which managers respond to these emerging environmental factors determines both the speed and scope in which talent is identified and developed among employees. Furthermore, as the gap between the aforementioned factors widen with respect to organizational performance, it becomes quite tricky and challenging as well to sustain talent within a given a workforce.Advertising Loo king for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More While we continue to appreciate the relative importance of talent within an organisational set up, is also vital to note that there is insufficient supply of talent today in most organisations. Right from the top of the organisation leadership hierarchy, talent gaps are eminent. Worse still, the lower and middle level cadre is not spared either. Hence, the fact that talent is increasingly becoming a rare element in human resource implies that its management should be optimal. This paper aims at not only refuting the claim that talent management is a fancy ideal in human resource development, it also seeks to clarify why specific, general, short and long term objectives of an organisation may be cumbersome to meet when there are visible gaps in talent management. Literature review People who are highly talented differ greatly from the rest of the workforce in a n organisation. Although roles and responsibilities may be equally assigned to both the talented and untalented personnel, the former is expected to deliver more and beyond the ordinary level. At the same, a talented employee has more expectations just from fellow colleagues but more so from the employer. At this point, it is vital to point out that an organisation that hires and manages talent should also be ready to compensate the very talent at a relatively higher cost in order to retain the unique natural ability. In real sense, it is quite costly to maintain a talented employee at workplace both in terms of the two-way traffic expectations as well as the monetary compensation needed. One of the outstanding characteristic of a talented employee is the extreme ability to think differently and translate the same thoughts to action within a very short time. In the event that the co-workers cannot quickly grasp the fine details of a particular task, a talented worker is easily bored . More difficult and challenging responsibilities are preferred to smooth sailing tasks. as much as they can handle complex problems within their area of expertise, most research studies on talent management reveal that talented people are intrinsically complex in their own way and it may sometimes be cumbersome to fully understand them (Antonelli, Geuna Steinmueller, 2000). Indeed, these attributes of talented people calls for a non-traditional perspective and approach when handling them at workplace. The fact that talented people are naturally smart in their specific areas of specialization explains why organizations need to hire such personalities offer help but not be guided on what to do.Advertising We will write a custom article sample on People resourcing and talent management specifically for you for only $16.05 $11/page Learn More Talent flow within an organisation and the way it is strategically hired, developed, nurtured and retained are all components of talent management. Although a business organisation or institution may opt to settle for trained professionals, the process of aligning the right personnel with jobs that suits them most demands more than just professionalism and training. Indeed, the availability of sufficient and most productive labour supply requires cross-section of talent management throughout an organisation as per the broad objectives of a business organisation. Hence, talent management surpasses the simple thought of a fancy idea carved out of human resource practices. Realistically, optimizing competitive advantage in employees through an integrated and holistic approach should be the actual mindset in talent management (Bowen Ostroff, 2004). Thus, talent management is not a simple and narrow concept that seeks to fashion out human resource development at workplace. Any organisation that is seeking to deliver a single profound benefit both its objectives and employees may not ignore the innu merable positive outcomes brought about by talent management. Moreover, it is a human resource process that attempts to deploy and retain the right people in their rightful jobs within an organisation by identifying, developing, engaging and systematically attracting talent rather than just training. As such, hiring talent to suffice labour needs within an organizational set up is crucial since there may be foreseeable future labour needs than an organisation is looking forward to or some current critical roles that such talents are desperately needed. All the components of the life cycle of an employee are covered in talent management, including performance management, succession, development and selection (Fey Bjorkman 2001). For talent management to be successful in an organisation there are quite a number of key compliments that the management should bear in mind. As already mentioned in the earlier part of this literature review, talent management is more of a process than an instantaneous act. Hence, an organisation wishing to adopt and implement talent management in its human resource system should be able to fully and clearly comprehend the business strategies of the given organisation both at the present and future time. In addition, the existing gaps that exist between the available talent and what is needed by the organisation to run its human resource needs should also be assessed. When a comparison has been drawn between the two extremes, it will be possible o fill the employment gap therein.Advertising Looking for article on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More On the same note, bridging the talent gaps at workplace also requires a thorough talent management plan that has incorporated and integrated both the strategic and business plan for the organisation. This will assist in decisions related to hiring, promoting and demoting of employees based on their individual abilities to perform. Similarly, the end performance results where talent has been incorporated during production process should connect the corporate goals with those of individual employees, teams or departments within an organisation. When this is attained in talent management, it will be possible to offer feedbacks and clear expectations on behalf of both the employees and organisation in question (Areiqat, Abdelhadi Ã Al-Tarawneh, 2010). Enhancing the performance of individual employees may also be an uphill task if talent is not developed. It is paramount to note that employees need to be prepared, in terms of capacity building, to effectively manage their current posit ions and future responsibilities. Therefore, the integral components required for maximum utilization of talent should be part and parcel of the strategy used to manage hired talent. Emphatically, an evaluation on the impact of the talent employed is necessary after execution of the devised strategies. As can be observed, talent management is a broad human resource concept and application that cannot be roughly taken as a fancy term used by HR professionals. Moreover, attracting employees who have been perceived to be highly potential is not the ultimate goal for an organisation wishing to accelerate its growth pattern. It is overly necessary to retain and develop those individuals. Most organisations today are up in arms trying to identify specific talents each employee is endowed with and also developing the very talents so that they can realize positive returns on investment. It is against this backdrop that the inadequate role played by human resource practices has been identifi ed by most practitioners as a stumbling block in managing employees effectively. The existing talent gap in HR has been aggravated by the increasingly competitive business environment as well as the aftermath of rapid globalization (Harris,Ã Craig Egan, 2010). By fact, the emergence of strategic human resource management (SHRM) was as a result of transforming the conventional and outdated human resource practices that did not secure any room for harnessing, developing and utilising talent (Antonelli, Geuna, Steinmueller, 2000). Strategic human resource management largely deals with how human resource needs can be strategically managed in an organisation in order to improve work output. It is a rather new approach and concept towards the management of human resource in comparison to technical human resource management (Fey Bjorkman, 2001). In addition, the basic function of strategic human resource management lies within the designation and implementation of quite a number of ma nagerial policies within an organisation with a broad objective of ensuring that the available human resource management significantly contributes to the productivity of an organisation. When business strategy is combined with the human resource management function as well as talent management, strategic human resource management would reflect a relatively resilient plan of not only utilizing human resource to the optimum but also driving an organisation towards a competitive edge. The concept of fit and talent management may not be discussed in isolation since both terms are closely related and interlinked. The concept of fit is primarily the process of melding the human resource function within the strategic goals of an organisation (Wei Lau, 2005). There are quite a number of conceptual illustrations that have demonstrated that the design and implementation of sets of strategic human resource practices may not be coherent at all owing to the fact that the concept of Ã¢â¬ËfitÃ¢ â¬â¢ has not been understood well. Realistically, the concept of fit and the talent management lay much emphasis in improving the capacity of a firm in responding to the external factors especially those related to the hiring and utilization of human resource. Research methodology In order to carry out research study on talent management, both qualitative and quantitative research methodology can be employed. For instance, a recruitment and retention committee charged with the duty of identifying, hiring and retaining Ã¢â¬Ëhigh potentialÃ¢â¬â¢ or talented employees can be used for quantitative study of talent in strategic human resource management. On the other hand, qualitative analysis of secondary data collected from previously conducted research studies on talent management is also vital as a research methodology. Results Strategic human resource management is one of the core activities of talent management as believed by most advancing organisations (Oehley Theron, 2010) . some research studies have unanimously concluded that talent management and human resource development are indeed inseparable in term of application if an organisation is to remain profitable both in the hard and smooth economic times. Besides, the market supply of talented employees is still dismal, partly because most organisations have not designed, adopted and implemented talent managanment designs that reflect the needs of their respective organisations and the business environment. In any case, organisations have been found to compete stiffly not in terms of an Ã¢â¬Ëeffective labour forceÃ¢â¬â¢ but in relation to how much talent they can attract, develop and retain their human resource development. In simple terms, this implies that talent management as a process entails three main steps namely identifying people within an organisation who have a naturally high potential to deliver in their areas of ability and interest, assessing their specific areas of interest and fin ally assigning them the various responsibilities based on the two criteria. The logic behind this reasoning is that it is highly likely for talented employees to be attracted by other organisations and of course recruited elsewhere if they are not assigned their specific areas of interest and ability (Oehley Theron, 2010). This can be economically detrimental to the organization losing such a talent. According to the humanistic perspective of human resource and talent management, the competence of employees can best be built when interventions and activities surrounding the two types of management in human resource are well coordinated (Saini, 2010). Better still; a well coordinated talent management plan with human resource development will definitely lead to motivation of employees since they will be able to quantify their efforts against individual and organizational goals set beforehand. Knowledge is bestowed in people. Successful organisations often invest in people with speci fic talents to attain their goals since individual talented people superficially store the much needed knowledge. Indeed, one way of achieving better knowledge management in human resource management is by developing stronger networks between high potential employees and other professionals (Pinkerton, 2003). This can be termed as a professional network and its main purpose is to exchange, disseminate as well as compare the available knowledge as part and parcel of nurturing or building the identified talent. In addition, connecting people with other sources of knowledge entails developing a rigorous capacity and building program. This can be achieved through training, workshops and seminars. Although such undertaking are often done periodically, it is quite necessary for organisations involved in serious information management to adopt the system as a continuous and on-going process throughout the life of an organisation (Chaffey Wood, 2006). Unless this is done, new innovative me thods of production may be missed out and consequently lose out in the market competition. Nonetheless, in an organisational scenario where there is a stable pool of well managed talent, it is possible to merge knowledge easily using values paths. In connection to this an organization is expected to harmonize and re-engineer its workforce through a recognizable and well outlined hierarchy. In order to connect people with the right information each individual worker should not only be placed in an environment that is rich in information but should also be equipped in a smarter way on how to use the very information (Maier, 2007). Furthermore it is pertinent to note that for an organization to attain a competitive edge in a dynamic market; employees who have been recruited through talent search should be motivated using the various motivational means available. Although each organization often crave for growth and profitability, the latter may not be achieved unless its talented workf orce is well connected or endowed with the right information (Antonelli, Geuna Steinmueller, 2000). In order to create a platform where by knowledge can be shared among the employees in building the capacity of workers, prospective organization ought to adopt and embrace externalization, socialization, internalisation and combination model. When the four elements are properly harnessed, knowledge can be created within a short span of time and also be made available to employees. Indeed, this should be the right way to place talent in an environment that is conducive and enriched with viable information. The system adopted by Carillon Health System (CHS) is a critical case study on the paradigm shift from conventional human resource management that did not embrace talent management to strategic human resource management (Pinkerton, 2003). This system was applied with the aim of hiring and retaining talented employees. The system has been found to be beneficial in quite a number of w ays. For instance, it is possible to share resources economically with the use of this system. Additionally, the duplication of roles and responsibilities is significantly minimized alongside providing a wider forum for creative approaches and ideas that are essential when carrying out the process of recruiting and retaining talent. Conclusion In recap, it is pertinent to reiterate that talent management is no longer a fancy term used by human resource professionals. The radical shift to strategic human resource management from traditionally valued technical human resource saw the relative importance of integrating the aspect of talent when recruiting employees. This has been occasioned by the rapidly changing business environment that demands equal measure of not only restructuring organizational leadership but also identifying, hiring, nurturing and retaining people with high potential to meet the short and long term goals of an organisation. Further, talent management has also be en incorporated in knowledge management by connecting talented people with other professionals as part and parcel of boosting their overall performance. References Antonelli, C., Geuna, A. Steinmueller, W. E. 2000. Information and communication technologies and the production, distribution and use of knowledge.Ã International Journal of Technology Management,Ã 20: 72-94. Areiqat,Ã A.,Ã Abdelhadi,Ã T. Ã Al-Tarawneh, H.Ã 2010.Ã Talent Management as a Strategic Practice of Human Resources Management to Improve Human Performance.Ã Interdisciplinary Journal of Contemporary Research In BusinessÃ 2,Ã no.Ã 2,Ã (JuneÃ 1):Ã 329-341. Bowen, D. E. Ostroff, C. 2004. Understanding HRM-firm performance linkages: The role of the Ã¢â¬ËstrengthÃ¢â¬â¢ of the HRM system. Academy of Management Review, 29 (2), 203-221. Boxall, P Purcell, J. 2011. Strategy and Human Resource Management (3rd ed.), London: Palgrave Macmillan. Chaffey, D. Wood, S. 2006. Business Informat ion Management Ã¢â¬â Improving performance using information Systems, New York: Prentice Hall. Fey, C. F. Bjorkman, I. 2001. The effect of human resource management practices on MNC subsidiary performance in Russia. Journal of International Business Studies, 32(1): 59-75. Harris,Ã J. Craig, E.Ã Ã Egan, H.Ã 2010.Ã How successful organizations strategically manage their analytic talent.Ã Strategy LeadershipÃ 38,Ã no.Ã 3,Ã (MayÃ 1):Ã 15-22. Maier, R. 2007. Knowledge Management Systems: Information and Communication Technologies for Knowledge Management, Verlag: Springer. Oehley,Ã A. Theron, C.Ã 2010.Ã The development and evaluation of a partial talent management structural model.Ã Management DynamicsÃ 19,Ã no.Ã 3,Ã (JulyÃ 1):Ã 2-28. Pinkerton, S. 2003. A System Approach to Retention and Recruitment. Nursing Economics, 20(6): 296-299. Saini,Ã D. 2010.Ã Talent Management in the Developing World. VisionÃ 14,Ã no.Ã 4,Ã (OctoberÃ 1):Ã 340-341. Wei, L. Q. Lau, C. M. 2005. Market orientation, HRM importance and HRM competency: Determinants of SHRM in Chinese firms.Ã International Journal of Human Resource Management, 16(10): 1901-1918. This article on People resourcing and talent management was written and submitted by user Eileen Obrien to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. 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