The Financial Crisis Of 1907 - 1660 Words

Prior to the crisis in 1907, banks were considered full service financial institutions. In the year 1913, the Federal Reserve System was created by congress to help stabilize the financial market by acting as the lender of last resort to the banking institutions. Nonetheless the great depression still hit the economy between 1929 and 1933 which led to the stock market crash and market share value decrease by 80%. By the 1980s, the economy had stabilized again and there was increase in computer analysis, electronic information transfer, increased importance of global markets and deregulation of financial institutions. The financial crisis of 2007 and 2009 was the worst since the great depression. It was not a single event but a series of crises whose seeds had been planted in yet another recession of 2001 and the era of the internet bubble years earlier (Bodie, Kane, Marcus, 2011). One of the reasons for the crisis was the rise in subprime lending. Subprime loans were offered to individuals who did not qualify for prime rate loans and carried a higher rate of interest than prime loans (Gilbert, 2011). Another reason behind the subprime mortgage crisis is argued to have been due to the lack of ethics and poor policies such as the Goldman rule which encouraged pursuit of profitable opportunities irrespective of the effects on others (Watkins, 2011). In this paper, I will briefly define financial markets, outline types of financial markets and orders and trading mechanisms inShow MoreRelatedThe 1907 Financial Panic and the 2008 Financial Crisis1931 Words   |  8 Pagesof 1907. Almost exactly 100 y ears after the financial crisis of 1907, the poem known as The United States economy, holds a stanza rhyming it with the 2008 financial crisis. The tail of these two events is compared to better understand the elements in an effort to rhyme the next line of the poem with a new set of syllables. 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Evaluation Of A Mini Reading Lesson Plan - 1300 Words

Module 9 Reflection 3 In this reflection paper the student was asked to write a mini reading lesson plan. 1. Name of Strategy: Teacher/Peer Modeling (Read Naturally Strategy, 2009) 2. Grade Level: Third Grade 3. Type of Disability: A student that needs this strategy to increase fluency would have trouble in one of the following areas: identifying words, decoding unknown words, knowing the meaning of words parts or proper use of phonics (Seder, n.d.). 4. Material/Reading Text: I chose this book because it has many words that can look difficult to the student, but can be easily sounded out as they read. This book would also fit into a theme of learning about â€Å"Frogs,† or it could be used while teaching a lesson on bullying, by having the students make the connection between the characters in the story and which ones are the bullies and which ones are good friends. †¢ The book: â€Å"Finklehopper Frog Cheers† by Irene Livingston (Livingston Lies, 2005) See Appendix A †¢ Paper †¢ Pencil 5. Arizona Career and College Ready Standard: †¢ (3.RF.3) Know and apply grade†level phonics and word analysis skills in decoding words. a. Identify and know the meaning of the most common prefixes and derivational suffixes. b. Decode words with common Latin suffixes. c. Decode multi-syllable words. d. 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Career Planning and Career Management

Question: Discuss about the Career Planning and Career Management. Answer: Introduction Organisational success depends on effective management and leadership. Therefore, the integral part of the human resource management strategy is the development of the leadership and management skills and capabilities among employees. This HR practice is the key element of learning and development strategy of an organisation (Armstrong and Taylor 2014). The paper examines the training and development activities of the Bank of Greece and Coca-Cola HBC AG in Greece. The paper highlights the effectiveness of the leadership and management development (LMD) interventions. The paper discusses the relationship between developing individual leadership and management skills and enhancing organisational performance. The paper performs secondary research for collecting the data about the area. Training and development In every organisation training development is important aspect related to achievement of organisation goals. Training and development of employees are essential in the organisation to achieve its aims, needs and aspirations. The term training refers to behavioural modification as a result of learning through instructions, education development and planned experience (Thorpe 2016). The term development refers to the general enhancement of an individuals abilities and skills through unconscious and conscious learning (Martins et al. 2016). The primary objective of training is to provide the organisation with better personnel. The process of training includes an investment of money and time on employees to improve their performance and motive them to give their best (Armstrong and Taylor 2014). The well planned and organised training programs have several benefits for both the organisation and the employees. It helps the trainees to achieve inward job satisfaction gained by delivering high performance, the outwards satisfaction gained through incentives, rewards and recognitions given by the company. Training and development of employees increase their career opportunities and reduces the employees turnover rate. It also increases the commitment of employees towards the organisation. When an employee delivers superior performance, it increases the productivity and the efficiency of the organisation (Garavan et al. 2016). The initial step of training and development program is job analysis and the identification of the training needs. According to Wilson (2014), job analysis includes collection, analysis and setting of job information to provide a basis for recruitment, training, evaluating job performance and management. The vital issue of each organisation is the comprehension of the training needs as per the organisations needs and the goals. It is the fundamental step in the training process The training policies in each organisation are set in a manner that reflects its needs and philosophy. On the job training approach is most commonly applicable to many organisations. This type of training is given to the employee at the workplace in his office at desk or machine. The worker gains valuable insights into his work through instructions given during the training. This type of training is mostly unofficial and occurs without any strict preparation. The advantage of this approach is the ease of learning and knowledge obtained with limited expenses. However, its limitation includes the decrease in the service quality with the use of trainees when the clients are present (Tahir et al. 2014). The other approach is the classroom training that is conducted away from the workplace. Thus approach makes use of a wide range of practices such as discussions, lectures, videos, potential enquiries, and role play such that the employees understand the deeper meaning of their future task (Armstrong and Taylor 2014). Role play includes wearing others shoes to understand the course of the job. However, this approach is costly with the requirement of lots of amenities such as classrooms, professionals and technology (Falola et al. 2014). Overview of the Coca-Cola HBC AG Coca-Cola HBC AG or Coca Cola Hellenic is the worlds second largest beverage industry with its shares in the secondary listing on the Athens Stock Exchange. The company was incorporated under the law of Greece in 1969. In 2012, it moved its operational headquarters to Switzerland. The company operates in 3 continents in 28 countries with Greece being its one of the well-established market. Its product line includes the diverse range of ready-to-drink non-alcoholic beverages in the sparkling sport, water, and juice, coffee and tea categories (Corea 2016). Training and development in Coca Cola According to Zempiliadou (2015), the training and development in coca cola are given prime importance for retaining best employees. Over the past few years, the company has strengthened the area of training and development to improve the business performance. The company as a part of the HR strategy thus provides its employees with development programs including internal talent management, employee performance management, and leadership development for managers (Metaxas and Tsavdaridou 2013). The training strategies in this company emphasis on bridging the gap between the needs of customers and that of the organisation. The motive is to train the employees in a manner that does not hamper their creativity and in turn gain an advantage for the company (Faucher 2011). By providing on-the-job learning, coaching and feedback the company ensure that the employees have the necessary resources to learn (Isdell and Beasley 2011). However, coca cola also incorporates fun element in the training programs to make it a great place to work. The aim is to motivate and inspire the staff to become the best they can. The rationale is the use of social learning theory that refers to learning through observation. Employees can modify their behaviour by watching others and reproduce the same (Pendergrast 2013). The training for the senior level managers includes on the job training. It includes the managers to interact with the clients directly or indirectly and provide for the fulfilment of the business (Charalambous 2013). The primary aim of this approach is to mainly seek to improve the leadership skills such that they can better evaluate and modify the companys surroundings and the corresponding results. The managers will be able to identify and develop strategic options to the possible risks. The leaders are also provided with the coaching just for polishing their skills and guiding them in decision making or a deal. The leaders are mainly sent for business conferences to interact with other successful leaders and modify their behaviour (Skouloudis et al. 2011). The managers in the lower level such as the sales managers, customer managers, line or design managers are trained in classrooms as well as on job to teach the required skills that match the business requirement. The training approach mainly used for them is role play where the managers have to shape themselves according to the need of the character. The company reduces its time by using advanced technology such as E-learning where the managers undergo different phases of training at their desk with the computers and attend the conference with the co-managers (Spanos 2016). The company uses guided discussions and the method of storytelling for the middle-level supervisors and assistant managers to enhance their technical skills as the global leaders want innovation for business strength. It is a practical way of teaching with lots of modules where the trainees develop and implement new ideas. This type of training usually occurs in closed rooms with adequate infrastructure (Corea 2016). Zempiliadou (2015) evaluated the training and development program for the employees in Coca Cola and found that it helped in developing the positive attitude among the employees. It helped them in becoming more profit aligned and knowledgeable. Personal workers are benefitted by being able to make better choices. Coca Cola creates a lifestyle of company learning by developing its leaders among the co-workers through the E-Learnings and job training benefits. Coca Cola also uses the employee participation approach to minimise the change resistance in the employees (Metaxas and Tsavdaridou 2013). This method helps to decreases the staff concerns and promotes advancement. The company uses Kirkpatrick's model to evaluate the potency of the leadership management and development programs (Faucher 2011). It is used to calculate the level of attainment of abilities, techniques, behavioural change and information using paper and pencil assessment, job models, and expertise methods. The evalua tion helps to track the business enhancement such as work outcome, cost benefits and the quality changes (Pendergrast 2013). Overview of the Bank of Greece The National Bank of Greece or NBG was established as a commercial bank in 1840. NBG was founded in 1880 and was later introduced at the the Athens Stock Exchange (Spanos 2016). According to Maes (2015) Currently, the bank is comprised of more than 600 domestic banking units in Greece and 283 units overseas and has 1241 ATMs. Training and development in NBG The study executed by Clogg (2013) highlighted that the bank lays immense important on the training and development of the workforce and in enhancing their skills. The bank has sustainably invested in the training and educational programs for their employees over the past years by establishing a Training Centre in 1996 (Koutsogeorgopoulou et al. 2014). Belias et al. (2013) conducted survey and interview at the headquarters in Athens with the managers of the bank. As per the survey, the training approach used in the bank is "on-the-job training for both middle and lower level managers. This type of training is mainly used for the positions on the lower level due to frequent job rotations, and for middle-level managers, it depends on the need of an hour. On the job training in NBG includes basic training, commercial training, banking operations, financial training, administration training, and other computer courses (Maes 2015). The employees at this level are well trained on the usage of the electronic data processing system. The training is to educate the employees on how to provide the customer services and deal with their issues. This program forms the basis of the successful attainment of organisation's aims and also aid in penetrating the foreign market (Koutsogeorgopoulou et al. 2014). Regular feedback is taken from the trainees and the trainers to measure the success of the training approach (Armstrong and Taylor 2014). Since both trainer and trainee are in contact, it is easy to avoid many mistakes and resolve the misunderstandings. This helps to proceed in the valuable and efficient training. Another training approach in NBG is the Distance learning program" which is practised to renovate its business services and achieve a constant endeavour (Clogg 2013). The survey conducted with the managers revealed that NBG ensures that their staffs participate in the seminar and conferences of both national and international level. The seminar consists of 6 months duration, and since they are acquainted with experts of a particular field, the training gives opportunities to the staff to broaden their knowledge and improve their skills. It also gives the opportunity to the learn the services delivered in developed countries and implement them in NBG by combining the positiv e and the negative aspects (Panagiotakopoulos 2011). The training centre at NBG provides E-learning to all the staff. This method is highly preferred in a bank as it reduces the cost. This training method involves the wide range of subjects such as AML issues, management skills, computerised processes, and financial expertise (Angelakopoulos and Mihiotis 2011). The survey further highlighted that NBG provides its staff with the foreign language courses as a part of the off the job training. This training helps staff to develop abilities for delivering higher quality services. It also enhances the communication skills (Armstrong and Taylor 2014). This type of training is applicable for staff at all levels. Learning foreign languages mainly English also helps the workers to better interact with the international clients (Glaveli and Karassavidou 2011). According to Belias et al. (2013), NBG provides training to its employees in the branches abroad according to the Greek standards. The local personnel in abroad are trained in both house and the seminars. The international managers are skilled enough, have precondition skills, and are not provided with intense training. They are trained to enhance the ability to handle every situation encountered in the workplace. To increase participation from staff, the bank is offering certified courses alon g with financial support for gaining international professional certifications programs. Also, NBG has additional programs that are sponsored by the EU. NBG also provides internships for students at undergraduate level. They help students to gain practical training as per the course requirements (Clogg 2013). Comparative analysis Both Coca Cola and NBG train their staff for development and better customer services. These activities have increased business performance, staff morale and business profit. Though both companies have some aim behind training and development, the process of training has minute differences. The difference in training is due to a difference in business operations of both companies. Coca Cola being a beverage industry provides training in the area of customer services related to taste enhancement, quality of food and innovation in the food and drink products, timely delivery of food products (Phillips 2012). On the contrary, NBG being a banking sector provides training and development related to banking operations, IT, issues, management skills, computerised processes, and financial expertise. Coca Cola provides training and development programs, coaching, feedback, E-learning and role-plays required for its staff to develop their profession and career. However, Coca Cola company does not have a training centre or academy like NBG. It does not provide extensive training like NBG. NBG provides training to people other than the employees, but Coca Cola mainly focuses on the development of its existing staff (Isdell and Beasley 2011). NBG does not provide training and development programs to the senior level managers and the internal managers as it recruits high skilled professionals. On the other hand, Coca Cola provides training to the staff at all levels equally. Since both the organisations are well reputed, the process of training is same. Both companies implement on the job training and the of the job training. However, Coca Cola mainly focuses on the on the job training. Unlike NBG, Coca Cola does not provide certified courses for its trainees. Therefore, it can be said that NBG has the higher level of training infrastructure compared to Coca Cola (Belias et al. 2013). Unlike NBG, Coca Cola does not provide education to its employees in the foreign languages. Coca Cola implements the role play approach to training, but NBG does not. Irrespective of the mode of training both the companies provides its employees with the room for growth. However, the management and development activities are stronger in NBG when compared to Coca Cola. NBG keeps its employees busy with goals insight, but the same is not seen in Coca Cola (Phillips 2012). The system of job rotation in banks increases the need of training activities, but beverage companies do not have job rotation system. The difference in training activities between both companies and the need of intense training in banking field is due to higher job security compared to that in Coca Cola (Beier and Kanfer 2010). This justifies the huge training infrastructure in NBG when compared to Coca Cola. On the contrary, the employees in Coca Cola are slightly vulnerable to market forces. Due to fluctuating market conditions, they are vulnerable to the wage levels. Employees in Coca Cola work hard to be competitive in skills and deliver high quality service to avoid being rep laced. However, the frequency of replacing employees in NBG is less although it is mandatory for the employees to meet the performance standards. Job burnout, stress and demotivation are observed in the employees of Coca Cola but not among the employees in NBG. Overall the training and development as a part of the leadership and management in NBG are regular while in Coca Cola the training and development are sometimes based on the need of the specific group of a workforce. It is these human resource management practices that led to the high reputation of both organisations (Phillips 2012). Discussion The training approach in both Coca Cola and NBG is developed with the perspective of the organisation, its objectives and the current challenges. Training and development programs must be developed in the organisation in a way that not only satisfies the employees but also become highly productive (Armstrong and Taylor 2014). These programs increase the technical abilities, work motivation, job confidence, interpersonal skills of the employees and teamwork of the employees (Tahir et al., 2014). Both Coca Cola and NBG create a concern to cure their staff well. The aim is to provide the employees with a fulfilling operating life. Such programs as a part of the leadership management and development activities help the organisation to achieve competitive advantage. Companies should continuously invest in the skills, abilities and knowledge, which are considered to be the determinants of the employees performance (Falola et al. 2014). Employee development is the key to sustainable develop ment of the organisation. Conclusion The paper has exhaustively discussed the training and development in both Coca Cola and NBG. Training and development is the primary tool that helps the human capital to explore their dexterity. It is vital to the productivity of the organisations workforce. The jobs in the banking sector are quite complex therefore the investment in training should not be viewed as the cost to the organisation. The paper recommends that in both NBG and Coca Cola an informal approach for accessing staff performance by laying emphasis on assessing the delivery of practical tasks allocated to the newly employed staff (Armstrong and Taylor 2014). Also, it is recommended that on the job training should be more formalised. It reduces the pressure on the trainers and allows concentrating more on the trainees. It is requested to introduce innovative programs of personality development for the senior managers and also the lower staff. It will help them to build synergy and strengthen the superior and subordi nate relationshipfor overall productivity of the business (Adekola 2011). In short, the HR department should enhance their training programs aligning with the latest demands in the beverage industry and banking sector. Due to increasing sophisticated fraud the banking sector in particular needs strategic techniques (Beier and Kanfer 2010). Countries, where the HR practices are greatly focused on designing and delivery of the training and development of the workforce, have not only obtained the organisational well being but also have become prosperous in this dynamic world. References Adekola, B., 2011. Career Planning and Career Management as Correlates for Career Development and Job Satisfaction. A Case Study of Nigerian Bank Employees..Australian Journal of Business and Management Research,2. Angelakopoulos, G. and Mihiotis, A., 2011. E-banking: challenges and opportunities in the Greek banking sector.Electronic Commerce Research,11(3), pp.297-319. Armstrong, M. and Taylor, S., 2014.Armstrong's handbook of human resource management practice. Kogan Page Publishers. Beier, M.E. and Kanfer, R., 2010. 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The Adoption of Employee Performance Appraisal Systems and their Effectiveness in Corporate Greece.