Task: Managing Human Resources in Healthcare

Task: Managing Human Resources in Healthcare Mark Don Corpuz As a recent graduate, appointed to an HR Advisory role within a large New Zealand healthcare organization, you have been requested by your manager to develop a discussion document for management which: 1. Considers the following types of business factors that underpin human resource planning in a healthcare organization- business growth, decline, change, competition; impact of technology and labour market competition and employee development. Business growth There are things to consider when hiring people to work in a company: one is how this individual performs tasks that are beyond company expectations and the other is how the company will benefit from his performance. Every company expects to grow and gain profit to consider itself as successful and strong. However, this will not be possible without the help of its employees. And because HR management provides support to the company when it comes to hiring employees, this position is very well checked and maintained to make sure that the entire business will have dedicated and hard working staff to contribute on the success of its nature. The aging population in New Zealand is at high and is increasing every year, thus, making the health care industry popular in this country. HR department is responsible in making sure the staff concerns are well taken care and monitored. The growth of the health business depends on how workers or healthcare professionals participate to achieve common aims and to value it whenever necessary. Absenteeism and being late to work are common reasons why staff performance is low and time management is compromised. There was a saying that taking care of its employees will in return take care of the business. This is so true to most cases like what had happened in the Philippines that one of the taxi drivers returned a bag full of money to a tourist and was given attention by the government and the media. After the incident, the company where he was working was acknowledged for having honest taxi drivers. This case is very important to the business due to a reason that people will start to gain trust and confidence to call this company for their services. Decline and change Transformation of business environment is expected to be flexible in its form and the impact might have a huge effect to the management. There are concerns arising within the business environment which contribute to its changes such as staff reshuffle, union protest, legal concerns, and resignation of officials, improvement of working facilities and services or other events that help reshape the whole organization. There are also causes that may help companies to improve and increase its growth. Some examples are hiring of potential applicants that will provide favorable outcomes to the business. Health care sector are prone to different changes in its management. Some changes were influenced by new legislations and requirements. Government bodies like district health boards and PHARMAC help monitor and implement rules to help organizations comply with the law requirements. There are also legislations that help protect the rights of every employee which is being handled by HR personnel. Competition In business, competition is present to employees and institutions. This attitude may sometimes be understood as a rival between both parties and the aim is to be a winner. Competition is also considered to be an element of giving employees willingness and determination to work hard. This also makes individuals to aim for a higher career level and gaining good image for the organization to be acknowledged. Sometimes there are disadvantages when competition is uncontrolled because this may lead to common mistakes and misinterpretation of who is achieving a goal. In a health care facility, most employees compete to receive bonus and additional compensation offered by the company. Impact of Technology Computer nowadays provide direct access to information through internet which is believed to be useful. It also makes tasks like typing, recording, storing and updating data easier. HRM are using computer technology to help them in doing paper works and keeping documents. Documents are very important and storage devices are helpful in keeping records confidential. Advance technology also provides comfort and convenience to customers that use them. A nursing home that have advance setting with new up to date equipments will have a huge impact on potential customers. When a family or client visit’s a nursing home and finds everything to be new and advance, this might give them an impression that they are comfortable and pleasing to their eyes. This will tend them to stay in the nursing home and will be happy on the services they will receive. There are also negative impacts when using technologies. High cost of parts when equipment is broken can also be considered to have a negative cause to the business. Hi technology can also be very expensive and careful budget must be considered since this will also affect the financial stability of the company. Labour market competition and employee development There are many facilities that compete with each other in terms on how they provide services and how they deal with clients. Most companies use techniques to convince people to use or buy their services. And many try to advertise their facility to differentiate them from other businesses. Growth and development are important in an employee because this gives good foundation when he wants to excel on his current position. Growing through learning new ideas and updates are also essential to assist a worker to improve in his job. 2. Considers the following types of human resource requirements and factors that underpin human resource planning in a healthcare organization- identifying internal personnel requirements, internal and external factors in matching personnel to organizational requirements; government policies and labour market competition. Identifying internal personnel requirements There are a lot of requirements needed to be hired as an employee of the company. Human resource department give a list of things needed to an applicant when he wants to apply or when an individual is hired. These requirements are being used to do background check and assess on the qualification he achieved. These documents serve as a basis on whether an applicant is qualified or not for the job. The human resource team creates a process on how the recruitment is done and how this department can gather data from an applicant. Some department use forms to be filled by an applicant. There is some use one in one interview of the client and record it while listening to him. Information on its employees is a must to the company and must be treated in full confidentiality. This information is kept in records and managers usually review them for promotions or legal purposes. Identification of personal data is also needed to know and familiarize the background of every worker in the company. Internal organizational requirements Organizations have objective and these must be aimed for the success of the business. The success of the business depends on the value of services it offers. Many companies try to compel the quality they must serve and they want to improve their services beyond the required international standard in order to be more competitive to people. Organizations also impose guidelines on how they want their employees to work in the company. Managers are providing certain steps on how to choose individuals. In terms of qualification, managers find ways and ideas on how the company find qualified applicants. HR staff helps the administration to give criteria on how one will get hired. In terms of operation, organizations work with different departments to ensure that internal needs of the company are met. For example, managers look at possible work hazards that might affect the operation of the business. Managers list down factors that comprise the whole organization. One to be prioritized is health and safety on employees and salary issues. These things are emphasized by the manager and HR personnel to better give employees the value of their rights and will not violate any legal matter. Government policies Before a company start, it must strictly comply on the government regulations. These regulations are made based on law and that these are practiced to ensure that nothing is violated. To better understand the purpose why a law was made, we can look on its contents and how it is implemented. All contents clearly state the description on how someone will be protected from abuse or harm. The HR department is responsible in making sure the rights of every employee are implemented in the workplace. Its duty is to orient every employee on what are his basic rights and how he can practice it. References: 1. ISBE (2011). As retrieved from http://www.isbe.org.uk/HRM. 2. Tuomi, Lauri. The Strategic Human in Growth Firms: A Finnish Case as retrieved from http://webs2002.uab.es/edp/workshop/cd/Proceedings/3EDPW_LTuomi.pdf 3. Chron (2014). How can HR a competitive advantage for any organization? As retrieved from http://smallbusiness.chron.com/can-hr-become-competitive-advantage-organization-50913.html 4. 2000. How will new technologies change the human resource profession? As retrieved from http://www.indiana.edu/~jobtalk/Articles/hrm/TechnologyChange.htm 5. Berkeley HR, University of California. Chapter 11: employee development and training as retrieved from http://hrweb.berkeley.edu/guides/managing-hr/managing-successfully/development 6. Human Resources, Institute of New Zealand. Human Resources Management in New Zealand as retrieved from http://www.hrinz.org.nz/Site/Resources/hrm_in_nz.aspx 7. Standards New Zealand. New ISO standard focuses on importance of people in quality management as retrieved from http://www.standards.co.nz/news/media-releases/2012/nov/new-iso-standard-focuses-on-importance-of-people-in-quality-management/

Life and Debt in the University Essay

Incurring debts while studying is never a pleasant experience. However, today’s increasing tuition and school fees, coupled with rising costs of living, have made indebtedness inevitable for many students. Although there are students who get heavily indebted from living frivolous lifestyles, most of the students I know usually had valid reasons of being compelled to avail of loans such as sickness and financial difficulties in their families. Pursuing higher education also meant independence for most students, and while some continued receiving financial support from their families, there are also those who chose to be completely on their own. Having to live independently and support myself, I usually had to take out a tuition loan during enrollment since I could not afford to pay school fees outright. Unfortunately, a debt is not something you enjoy having—or worse, accumulating—and it can have a tremendous effect on one’s well-being. Unless a student wants to spend his or her university life worrying about increasing debts, he or she must learn to manage his or her finances early on.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Indeed, it seems that debts have become a normal part of being a student. Whether a student likes it or not, soaring school fees and skyrocketing costs of living have made debts an inevitable reality. I think most of us have even become comfortable with the thought that we can take out loans from numerous sources like the university loan board, the bank, or even from personal contacts when it becomes necessary, such as when poor students like us run out of money for the rent and other personal needs. Getting into debt under such situations is understandable, but I do know some students who get cash-strapped from living beyond their means and are unnecessarily pushed into debt by their foolishness. Thus, a student should think first about the ways in which he or she will pay for her future debts before he or she starts having grand spending plans for that newly-acquired student credit card.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, students should know that getting into debt is the easy part. Getting out of it would be the difficult part and would certainly add to the stress of one’s university life. It is not as if the experience of a student who is neck-deep in debt would be different from the experience of other people in similar situations. Financial worries, in my opinion, may seem to be easy to solve but they can significantly distract a student from his or her academic responsibilities. I remember, for instance, being burdened by thinking so much about how I was going to pay off the tuition loan last semester that I often forgot my goal of getting good grades. Consequently, worrying about debts can also affect the psychosocial well-being of a student, sometimes even leading to major issues such as depression. Debts can compound other problems that a student may be experiencing, such as alienation from more well-off classmates and friends. There were times that I felt so bitter with my financial situation that I thought of dropping out from my studies and taking up a full-time job instead. Fortunately I had the support of encouraging friends who were either in similar situations or had gone through the same things before and we collectively held on to the belief and determination that we will somehow get over our problems. Thus, it was from these often painful and bitter experiences that I learned the plain and simple truth about debts and in the process of trying to maintain my sanity developed several coping mechanisms to manage debts. For instance, some of us tend to overlook the fact that debts do come with an additional interest on top of the principal and wait until the dreaded collection letter or notice comes instead of trying to settle debt obligations as early as possible. Paying off debts even in small increments saves us a lot of money in the long run since we avoid incurring more penalties. In the same manner, a student should avoid getting into more debts by spending according to a planned budget and within his or her allowance or income limit. A part-time employment can also be helpful in these times as a source of extra income for paying off one’s debts. In the end, there are times when getting into debt is inevitable, especially for students, but it can be an important learning experience in managing one’s finances.

Horizontal and Vertical Analysis

Financial Analysis XACC280 June 28, 2012 Accounting is the way all companies keep track of their out-going and in-coming finances. Applying accounting principles in any business is incredibly important because it allows for the least amount of mistakes and gives a comprehensive view of all transactions. There are many tools used in accounting, each with it’s own unique function. Statements are used to show a specific time period’s overview of assets, liabilities, and all transactions. These statements allow for easier comparing of months, years, or even different companies accounts.Two of the tools of financial statement analysis are called vertical analysis and horizontal analysis. Much like the definitions of vertical and horizontal, these two analyses are similar, but also have striking differences. In this paper I will provide you with information regarding the two tools, vertical and horizontal analysis, and how comparing them is applied to two big businesses calle d PepsiCo, Incorporated and Coca-Cola Company. When referring to vertical analysis, we are referring to when a total percentage is calculated for one financial statement.As defined on â€Å"Accounting Coach† (2012), â€Å"A type of financial analysis involving income statements and balance sheets. All income statement amounts are divided by the amount of net sales so that the income statement figures will become percentages of net sales. All balance sheet amounts are divided by total assets so that the balance sheet figures will become percentages of total assets,† (Dictionary). Using vertical analysis is very helpful when comparing a company’s percentages between statements, (Price, Haddock, & Brock, para.Vertical analysis of financial statements,   2007). It can also be helpful when comparing numbers of two companies that are within the same trade; such as the companies being compared in this paper: PepsiCo, Inc. and Coca-Cola Company. Using vertical analysi s will help us to compare how well each company did in the certain accounts that were analyzed. The reason we want to do these comparisons is because it can sometimes be difficult to determine how much each statement is worth within a company or when compared to another larger or smaller company.By converting them into percentages, it becomes effortless to compare and understand that information each statement gives. To perform a vertical analysis of PepsiCo we divide the current assets by the total assets. This will tell us what percentage of the assets in the company are current. To find this we divide the current assets, $4,882, by the total assets, $31,727, (University of Phoenix, 2008). By doing this math, we now know that the current assets make up 6. 5%. We will perform a similar problem to find what percentage of total assets are shareholder equity.Taking the total assets, $31,727, and dividing that by the shareholder equity, $14,320, we see that the shareholder equity makes up 2. 22% of the total assets, (University of Phoenix, 2008). This can be done to all other accounts to find what percentage of total assets each account is. Below is the example of percentages of total assets that the current assets and shareholder equity make up. Two measures of vertical analysis- 1. Current assets divided by total assets- 4882 / 31727 = 6. 5% 2. Shareholder equity divided by total assets- 14320 / 31727 = 2. 22%A vertical analysis of Coca-Cola will show us similar percentages to those of PepsiCo. We divide he total assets, $29,427 by the current assets of $10,250. From this we now know that 2. 87% of the total assets are made up of current assets. Using the same equation, we substitute the current assets with the shareholder equity of $16,355, (University of Phoenix, 2008). By dividing the total assets of $29,427 by $16,355 we are left with 1. 79%. This means that the shareholder equity make up 1. 79% of the total assets of Coca-Cola Company. See the equations be low: Two measures of vertical analysis- 1.Current assets divided by total assets- 10250 / 29427 = 2. 87% 2. Shareholder equity divided by total assets- 16355 / 29427 = 1. 79% Differing from total percentages from one financial statement, is horizontal analysis. According to â€Å"Accounting Coach† (2012), â€Å"This method involves financial statements reporting amounts for several years. The earliest year presented is designated as the base year and the subsequent years are expressed as a percentage of the base year amounts. This allows the analyst to more easily see the trend as all amounts are now a percentage of the base year amounts,† (Dictionary).Horizontal analysis is used to show profitability over certain time periods. When a company is able to tell the public or it’s investors that it’s assets increased by 12% since the previous year, that company is using horizontal analysis to show where that 12% came from. This is especially helpful in compar ing two companies like PepsiCo Inc and Coca-Cola Company. The reason it is helpful is quite simple. As previously explained, horizontal analysis allows for analysts to show how much an account has increased of decreased since the previous time period, (â€Å"Investopedia†,  2012).When comparing PepsiCo and Coca-Cola, using horizontal analysis, we can view how much the revenues for each company have increased or decreased in 2004 or 2005. This enables investors to see the profit of a company and gives insight into which companies are best to invest in. To perform a horizontal analysis of PepsiCo we will compare accounts from the year 2004 to 2005. By doing this we will get an idea of how much the assets and liabilities for PepsiCo have increased. In 2004 the current assets of the company were $3,445. In 2005, they increased to $4,822. This shows an increase of 1. %. Next we will look at the liabilities. The current liabilities in 2004 were $14,464. They were raised to $17,47 6 in 2005, (University of Phoenix, 2008). This shows an increase of 1. 21%. These figures are shown below: Two measures of horizontal analysis for PepsiCo, Inc. – 1. Current assets in 2005 divided by current assets in 2004- 4822 / 3445 = 1. 4% Current liabilities in 2005 divided by current liabilities in 2004- 17476 / 14464 = 1. 21% What we can infer from this information is that PepsiCo has increased both their assets and liabilities from 2004 to 2005.There could be any number of reasons for this. Perhaps the company is responding to competition and increasing their assets and liabilities in anticipation of a higher ratio of consumers. We cannot judge what is best to invest in based solely on the information gained from this horizontal analysis. We must also compare numbers from the vertical analysis listed above. As we have done for PepsiCo, we will compare accounts for Coca-Cola Company during the same years, 2004 to 2005. In keeping with our above listed accounts, we will find the percentages of the assets and liabilities.In 2004, Coca-Cola’s current assets were $12,281. The assets decreased to $10,250 in 2005, dropping by a percentage of 1. 2%, (University of Phoenix, 2008). A similar comparison can be found for the liabilities. In 2004 Coca-Cola’s current liabilities were $11,133. In 2005 we see a decrease to $9,836, (University of Phoenix, 2008). This decrease a percentage of 1. 13%. The figures are shown below: Two measures of horizontal analysis- 1. Current assets in 2005 divided by current assets in 2004- 10250 / 12281 = -1. 2% Current liabilities in 2005 divided by current liabilities in 2004- 9836 / 11133 = -1. 3% Judging on the numbers, we can see that Coca-Cola had a decent decrease in both their assets and liabilities. This is positive thing in the eyes of investors or potential investors because it can mean that the company is taking in less. Taking in less is something investors look for because an ideal company will be ta king in very little and putting out substantially more. By performing vertical and horizontal analyses on two companies like PepsiCo, Inc and Coca-Cola Company, we are able get a look at how the numbers of both compare not only to previous years, but to each other as well.As with any company, it is to be assumed that improvements will need to be made. Based on the numbers we show in the vertical analysis of both companies, it is safe to say that Coca-Cola has better looking numbers. However, we cannot make our judgements solely on the percentages we concluded from the horizontal analysis. Simply because Coca-Cola’s current assets and liabilities lessened in percentage from 2004 to 2005 does not mean they are a wiser investing choice. It might obviously show that they did not add any assets or liabilities but what it does not obviously show is why. There could be any number of reasons.I would suggest for Coca-Cola to try and improve it’s percentage of shareholder equity within the company based on the information from the vertical analysis. Perhaps if investors see that others thought it a wise choice to put their money into the company, they will too. My suggestion for PepsiCo is based on the numbers from their horizontal analysis. Comparing PepsiCo to Coca-Cola shows that PepsiCo is taking in far too many assets and liabilities between their yearly periods. It is ideal for them to take in the same, or even less. Adding more assets and liabilities can mean that the company is not doing as well as they previously were.An investor wants to see a company putting out much more than they are taking in. Higher liabilities and assets can mean the opposite is happening. PepsiCo would be making a wise choice if they avoid increasing those accounts. Comparing accounts, statements, and percentages within a company or to another company is made much easier with tools such as vertical and horizontal analyses. To compare numbers and percentages within a compan y, vertical analysis is the tool needed. Taking that comparison one step farther by including other companies is why we have horizontal analysis. PepsiCo, Inc. nd Coca-Cola Company have been compared and helpful suggestions have been made for each company to improve. It is important to remember that The information received from the two types of analyses can influence investors and potential clients alike. Maintaining balanced percentages with increasing and decreasing values where necessary is the key to financial success. References Accounting coach. (2012). Retrieved from http://www. accountingcoach. com/ Price, J. E. , Haddock, M. D. , & Brock, H. R. (2007). College Accouting (11th ed. ). Retrieved from http://highered. mcgraw-hill. om/sites/0073029920/student_view0/ebook/chapter23/chbody45/vertical_analysis_of_financial_statements. html. Investopedia. (2012). Retrieved from http://www. investopedia. com/terms/h/horizontalanalysis. asp#axzz1z91O1lS9 University of Phoenix. (2008) . Appendix A- Specimen financial statements: PepsiCo, Inc. Retrieved from University of Phoenix, XACC 280 – Accounting Concepts and Principles website. University of Phoenix. (2008). Appendix B- Specimen financial statements: The Coca-Cola Company. Retrieved from University of Phoenix, XACC 280 – Accounting Concepts and Principles website.

Corporate Social Responsibility Business Ethics

As businesses have evolved over time, there is no denying that consumers have grown to expect certain behaviors from the variety of companies that they have the option to endorse. A business can spend millions of dollars on advertising, researching, sampling and surveying customers all of which can be undone by a mistake that ruins their reputation. Corporate social responsibility is a term that has its origins in the 1950s. It refers to â€Å"situations where the firm goes beyond compliance and engages in actions that appear to further some social good, beyond the interests of the firm and that which is required by law† (McWilliams, Siegel Wright, 2006, p. 1). It was in the 1990s that corporate social responsibility truly became a trend that led to the development of other terms such as ‘business ethics’ (Carroll 2008). 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