Human Resource Management Mod 5 Case Assignment Essay

Human Resource Management Mod 5 Case Assignment - Essay Example A competitive advantage is achieved through hiring of talented individuals, placing such individuals in appropriate positions and aligning their individual performance with the objectives of the organization (Carraher, Buchanan & Puia, 2010). As a human resource director of a China-US venture, I would like to address the critical issues that need to be addressed in developing, implementing, and evaluating a performance management system within the organization. Developing a performance management system An effective and efficient human resource system within the organization needs to include a wider scope beyond the human resource profession. This is to ensure that the organization learns more about the evolution of other sciences and their influence on the measurement systems. The foundation of our performance management system should be anchored on three factors including efficiency, effectiveness, and impact (Dessler, 2006). The three factors form the basis within which we will be operating our performance management system. Efficiency entails delivering human resource programs that ensure frugal utilization of organizational resources such as funds and time. We should ensure that our performance management system does utilize the minimum possible amount of resources while promising maximum rewards. In order to ensure effectiveness, the performance management system should impact on employees in terms of improving their overall performance. In the case of impact, we should select the greatest pool of employees in terms of talent and include them in the performance management system to ensure the best results. The second step in the development of a performance management system is the development of performance benchmarks. This stage involves aligning the goals of the organization to the best practices of both the Chinese as well as the American human resource industries. This is to ensure that there is incorporation of standards from the two industries for the sake of the diversified employee workforce. The performance benchmarks should be established in terms of employee satisfaction, organizational performance and customer satisfaction (Carraher, Buchanan & Puia, 2010). The goal of our performance management system should be to perform better than the industry benchmarks hence creating a competitive advantage. The third step is the development of data systems and portals that will collect information on employee performance and relay them to the decision making process for evaluation. Organizational information is one of the greatest assets than organization can have hence the need to develop a comprehensive data system. Our organization will make performance evaluations based on facts hence improving its performance management. The fourth and last step is the development of balance scorecards. The scorecard summarizes all the functions of the performance management system and aligns them to the strategic goals of the organization. It also includes the cost implications of the system. The performance management system will be implemented and evaluated using the balance scorecard so as to ensure that the system remains appropriate to the goals of the organization throughout the two stages. Implementing a performance management system Chinese are the dominant in the organization in addition to the fact that the organization is based in China. This implies that the critical

Critically discuss the influences from outside accounting which have Essay

Critically discuss the influences from outside accounting which have affected the development of financial reporting in various countries - Essay Example As a point of departure accounting is a product of the environment and all factors attributed to the outside of accounting such as politics, legal framework among others will automatically influence the manner in which the accounting system of a nation operates differently from those of their nations. This brings us to the aspect of political systems. Various nations across the nations embrace diverse types of governance systems which immensely influence the type of accounting systems to be embraced across its borders. For instance, some of the political systems practiced include the multi-party democracy, one-party systems, traditional monarchies, military dictatorships and dominant-party systems (UNITED STATES, 2007). It is imperative to note that, the higher the level of a political system in terms of freedom, the lower the rank of a nation. This immensely influences the standards of the accounting systems that are embraced in a particular nation. For instance, the political syste ms of a nation stand a position of determining the nature of the economic structure a nation embraces hence determining the accounting patterns (TSAMENYI & UDDIN, 2009). Some nations can import or export accounting standards and practices; this brings the discrepancy of the accounting systems embraced by diverse nations. In addition, the element of political freedom of a nation is critical in the development of an accounting and reporting systems guided by the full and fair disclosure principle. In essence, when the populace is not allowed to make independent electoral choices, then the possibility of influencing accountable and transparent governance principles which will enable establishment of an accounting profession or system that is founded on the full and fair disclosure principle is low. Similarly on the side of legal systems, the same case of lack of influence in the formation of these systems defines