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4.6 Recruiting and selecting internal candidates

Where an existing member of staff is applying for a post, you will already have knowledge of their personality, skills, fit with the organisation and so on. However, whether the job they are applying for is very similar to or different from the one they are doing currently, you need to ensure that they receive the same treatment as other candidates. Being an internal candidate is not easy. It can be both an advantage and a disadvantage to be known! Maintaining our theme of objectivity, the re
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4.4 Job description

From your analysis of the job you can write a job description which will state what the job holder is responsible for and what they are required to do (see Example 1).

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3.3 Person–organisation fit

This approach stresses that people's behaviour and performance are strongly influenced by the environment in which they find themselves. So being successful in a job in one organisation does not necessarily imply success in a similar job in another. In assessing the suitability of a job applicant a manager should explore the reasons why a person has performed well in their existing job and consider whether similar conditions apply in the new job. Advocates of the person-organisation fit appro
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Activity 10: Critical reflections on Hofstede

Allow 60 minutes for this activity.

You have spent most of this unit working with Hofstede's ideas. He is one of the pioneers of the study of national culture and its impact on organisations, and his work has been very influential.

My aim so far has been to help you understand Hofstede's cultural dimensions and to become familiar with how they can be used to analyse one of the main environments within which organisations operate. National culture is also one of the factors
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1 Overview

This unit begins with some explanations of culture and discussion of how to distinguish between national and organisational culture. Reading what some well-known writers on organisational and national culture have to say will help you recognise some of the main dimensions of culture and reinforces that all of us, including organisations, construct different views of the world as a result of cultural influences. Thus culture plays a key role in the ways in which organisations perceive the envi
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2.5 Project meetings schedule

You need to decide early on what meetings are essential to the monitoring process. All your stakeholders will expect to receive reports at regular intervals, whether formally or informally. So you need to ask yourself:

  • Who needs to be informed?

  • About what?

    How often?

  • By what means?

Effective communication involves giving information, collecting information and listening to people. To ensure the
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2.8 Network analysis

One of the weaknesses of simple charts for planning and control is that they do not show how tasks are dependent on each other. Network analysis (or critical path analysis) seeks to overcome that drawback, particularly where large or specialist projects are concerned. The critical path is found as a result of the analysis of the network. There are many computer software packages which can help a manager to carry out a network analysis.


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2.6.1 Compendium

Compendium  is a knowledge map software tool for visual thinking. It can be used for personal reflection as you study or work on a problem, and you can share your maps with others – your summary of a topic or a learning path through, say, an OpenLearn unit.

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2.3 Influence diagrams

An influence diagram shows the influences, from within the organisation or from outside it, which bear on a person or unit.


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2.2.2 A second diagram

This first representation can be developed in the way shown in Figure 11.

2.2.1 A first diagram

For example, think about the inputs to the running of a commuter rail operation and the outputs from it. The diagram might look like the one in Figure 10.

1.1.3 The intercept

When a line cuts an axis, the line is said ‘to intercept the axis at’ [the particular point]. In this example, the line cuts the vertical (y) axis at £10, so ‘the line intercepts the y axis at £10’. It can also be said that ‘the intercept with the y axis is £10’.


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Learning outcomes

By the end of this unit you should be able to:

  • understand the value of graphics as visual thinking tools;

  • give examples of relevant graphics used in the business context.


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4.3 Market segmentation and targeting

Market segmentation and targeting is at the core of marketing strategy and consumers (or potential consumers) are the key stakeholder group for both commercial and social marketers. In this section we focus on those specific consumers whose behaviour is the focus of the social marketing activity.

In Section 3.2, the factors which impact
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The theories of reasoned action and planned behaviour

The extended Fishbein model, based on the theory of reasoned action, includes the following components to explain behaviour.

  1. Attitude to the behaviour comprising:

     

    • a. The strength of the expectancy (beliefs) that the act will be followed by a consequence.

    • b. The value of that consequence to the individual.

    This is the basic expectancy value approach. Returning to o
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3.5 Default or credit risk

This is the risk that contractual returns will not be paid because the borrower's financial situation has deteriorated to the point that it is no longer able to service the debt. It is possibly the commonest type of risk in commerce generally, and you are probably familiar with it in some shape or form. It affects many areas of business decision-making over and beyond the specialised world of investment risk and return. Most large companies devote significant resources to the identification,
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2.2 Calculating returns

Our first question was: what is the mean expected total return for next year? We calculate this by taking each of the possible returns and weighting it by its relative probability. As our table is so simple and symmetrical, it is not difficult to see that the weighted mean return is 7% per annum.

Our second question was: what is the degree of risk or uncertainty in this mean figure? In other words, how widely dispersed are the possible outcomes around the mean expected outcome? The most
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Introduction

A fair return on investment is defined as one that compensates the investor for the risk incurred in making the investment – neither more nor less. Conversely, an excess return is one that over-compensates the investor for the risk incurred. Investors want to avoid investments that pay less than a fair return, while borrowers want to avoid paying an excess return. In this unit we shall:

  • define more precisely what we mean by ‘risk’ in a fi
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5.3 Desktop search tools

Finding your paperwork or electronic files can be a problem. You may find that even if you do have some sort of filing system, your structure soon gets quite large with files in multiple locations, which can be hard to navigate. You may find yourself making arbitrary decisions about which folder to place a document in. It may make sense now but in the future, when you look where you think it should be, it’s not there.

At times like this you may resort to the search command from the Wi
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4.7 T is for Timeliness

The date when information was produced or published can be an important aspect of quality. This is not quite as simple as saying that 'good' information has to be up to date.

Activity

Here is an example of a news item from an onli
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