Management Consulting/Advanced Strategic Management
Q1. a) What is the significance of corporate policy in today’s changing scenario?
b) Select an organization of your choice (Name and describe the organization) and briefly discuss the various types of policies it has adopted.
Q2. a) Identify the unique competencies of Ranbaxy Laboratories.
b) Discuss in detail the various modes of entry adopted by Ranbaxy.
(Refer to the case study given in Block 3)
Q3. How can creativity be encouraged within an organization? Discuss with the help of an example of a creative organization.
Q4. No business can exist without ethics. In the light of this, explain the importance of ethics for a business.
Q5. Write short notes on the following:
a) Need for Corporate Governance
b) Strategic Choice
c) Knowledge Management.
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Q1. a) What is the significance of corporate policy in today’s changing scenario?
A formal declaration of the guiding principles and procedures by which a company will operate typically established by its board of directors or a senior management policy committee. Imbedded in corporate policy are the company's mission statement, objectives and the principles by which strategic decisions are to be made. It also forms the basis for measuring performance and ensuring accountability at all levels of the company.
The rapid scientific technological advancements are reshaping the world. Developments in information and communication technology have revolutionized every activity, be it scientific or business and commerce or individual and personal. For business and commerce, they have facilitated improvements in productivity and bottomline of the business and commerce besides opportunities for better customer service. The productivity improvements come out of the increased speed, accuracy and ability to handle big volumes that technology offers. For the financial sector and banking, the developments in information technology have spelt very special benefits.
In today’s globally competitive market, knowledge constantly makes itself obsolete with the result that today’s advanced knowledge is tomorrow’s ignorance. One has to be on the learning curve and continuously move up. All the knowledge workers have to leverage intellectual capital for growth—creative destruction—keep on innovating— otherwise someone else will be at the top of the pecking order. Companies function in a world of exponentially shortening product and service life cycles where customer preferences and technologies change in a discontinuous and non-linear fashion and business paradigms and rules become obsolete. The future winners will be those business organisations who escape from the gravitational pull of the past on the fuel of innovation.
In the opinion of some experts the twenty first century competition is characterized by at least three fundamental paradigms shifts, viz. -
(a) Ability of organisations and individuals to network globally and seamlessly;
(b) Ability to communicate, transmit, store and retrieve large amounts to information including voice, data, video; and
(c) Mobility of capital to feed good projects around the world.
With the battle for market share and mind-share deepening, companies are increasingly resorting to non-traditional resources (like knowledge) and innovative means (like quick response) to create sustainable competitive advantage.
WHY CORPORATE GOVERNANCE?
From the beginning corporate governance has acquired connotation of policing with policies. Major reason for ‘confrontationist’ undertone is that managers remain unconvinced that corporate governance is a powerful tool for transparent, prudent and participative management that could be fair to all stakeholders and still enhance value of an enterprise as well as reward them commensurate with performance. Consequently, several managers observe corporate governance because it would be difficult to openly object accountability to shareholders, who have risked their capital and responsibility to other stakeholders, whose livelihood depends upon prudent management. Nor can they be seen to grudge the right of stakeholders to get a true picture of business performance and style of management. Perhaps failure in accepting whole-heartedly the spirit of corporate governance is on account of fear of dilution of authority rather than with any predetermined plan for wrongdoing. If corporate governance has assumed negative connotation, it is largely due to helplessness on the part of shareholders to deal with corrupt and incompetent managers. Ironically, competitive business environment is bringing the best out of managers as a class. Corporate governance has become a contentions issue because while empowering boards and shareholders to deal with incompetent and corrupt managers is a relatively easy matter, dealing with brutal violation of spirit of corporate governance by ‘excellent managers, who have created great shareholder value, is one the biggest challenges.
In the context of fast changing corporate and socio-economic landscapes, fast paced technology and emergence of multilateral trading system, the following factors underscore the need for good corporate governance :
(i) Globalisation, privatisation, deregulation, causing revolution of rising expectations;
(ii) Advancements in Information Technology and E-Commerce.
(iii) Strategic alliances, mergers and acquisitions.
(iv) Intellectual Property Rights.
(v) Social responsibility, social audit and societal concerns.
(vi) Business and professional ethics.
(vii) Sustainable development.
(viii) Energy audit, environmental upgradation.
(ix) Need for excellence to cope up with fierce international competition.
(x) Need to strike a balance between compliance with rules and company’s need to perform, so that company’s performance is not stifled by over regulation.
OBJECTIVE OF GOOD GOVERNANCE
It is felt that the objective of corporate governance i.e., the overall objective of wealth generation and competitiveness for the benefit of all can best be achieved through the twin components of :
— An “inclusive” approach to directors’ duties which requires directors to have regard to all the relationships on which the company depends and to the long, as well as the short-term implications of their actions, with a view to achieving company success for the benefit of shareholders as a whole; and
— Wider public accountability: this is to be achieved principally through improved company reporting, which for public and very large private companies will require the publication of a broad operating and financial review which explains the company’s performance, strategy and relationships (e.g. with employees, customer and suppliers as well as the wider community).
WHY EXCELLENCE IN CORPORATE GOVERNANCE?
Business excellence has several connotations. Excellence denotes outstanding performance, superior quality and consistently extraordinary service especially in the face of severe hardships. The word conveys a value-driven approach consisting of respect for humanity, compassion and a positive and proactive attitude towards solving problems while achieving rapid growth.
The future has no shelf life. If today’s technology is yesterday’s magic, there is an imperative need to be innovative and creative to bring more excellence in vision and mission and products and services. This is a message for Indian corporates and the whole economy of the country, which is going through the phase of churning where centuries old values, structures and practices are giving way to new paradigms comprising new rules of the game. The scenario calls for bench marking of standards of excellence in all spheres of corporate activities, as it has become sine qua non for growth and long-term sustainability of companies.
The scenario also calls for excellence in performance which can be achieved only through adherence to good corporate governance principles, such as accountability, transparency, probity, quality of information and by fulfilling their obligations towards society, the nature and the human well being.
Our success in the future will be entirely dependent upon our ability to identify the opportunities, synergies our strengths and skills successfully and turn the challenges into opportunities. This is more important for corporate governance than for any other aspect of the economy. More so, when corporatisation is becoming a way of life with primary, secondary and tertiary sectors increasingly opting for corporate paradigms.
Corporate policies and procedures may sound heavy and cumbersome. They bring order, fairness and most importantly, protection against lawsuits. Although policy making may not be the most fun part of running a business , it's something every owner, executive and manager must take seriously to promote organizational success.
o It takes coordination to get all the members of an organization to work together toward common goals. Managers play an important part of directing these efforts; however, managerial communication and support isn't enough. Policies help employees understand how a company works and wants things done. They provide guidance and information that organization members can self-access at any time. In this way, policies are an invaluable resource that help people do their jobs.
o Few, if any, businesses operate without legal and regulatory challenges. Lawsuits are an unfortunate part of operating and companies have to find ways to prevent them whenever possible and win them when necessary. Written policies are firm descriptions of how companies operate and in many cases demonstrate how their managements address important issues and maintain fairness in their conduct of business. For example, if a company faces a complaint of discrimination in hiring through the EEOC, having a diversity policy can be helpful in demonstrating that the organization is not biased.
Customer and Clients
o Despite best efforts, it's hard to please everyone. Customers and clients often want things done their way and on their timeline, even when it's not possible or fair to other customers. Companies sometimes have to reshape customer expectations and in some cases say "no." When this happens, it helps to point to a policy that shows the company and its representatives aren't acting arbitrarily. While it's not foolproof, many customers and clients have a better time accepting what they don't want to hear when they can see it stems from a company's considered standard of operation.
o Progressive discipline is one of the least pleasant parts of managing people. However, when a company has a problematic employee and discipline becomes necessary, company policies are very helpful. Employees need to understand the standards to which they are held and the reasons they are disciplined. Additionally, when managers need to take action against an employee, they should do so in accordance with well-considered human resources policies designed to promote fairness while simultaneously empowering managers to take action in the face of serious and dangerous misconduct.
b) Select an organization of your choice (Name and describe the organization) and briefly discuss the various types of policies it has adopted.
the organisation I am referring to
The organization, I am familiar with is a
-a large manufacturer/ marketer of safety products
-the products are used as [personal protection safety] [ industrial safety]
-the products are distributed through the distributors as well as sold directly
-the products are sold to various industries like mining/fireservices/defence/
as well as to various manufacturing companies.
-the company employs about 235 people.
-the company has the following functional departments
1. Accounting Policies, Procedures and Forms
1. Chart Of Accounts
2. Files And Records Management
3. Travel And Entertainment
4. Management Reports
5. Period-End Review & Closing
6. Controlling Legal Costs
7. Taxes And Insurance
8. Property Tax Assessments
9. Confidential Information Release
10. Document Control
11. Cash Drawers And Credit Cards
12. Cash Receipts And Deposits
13. Problem Checks
14. Wire Transfers
15. Check Signing Authority
16. Check Requests
17. Bank Account Reconciliations
18. Inventory Control
19. Inventory Counts
20. Fixed Asset Control
21. Customer Property
22. Fixed Asset Capitalization & Depreciation
23. Sales Order Entry
24. Point-Of-Sale Orders
25. Customer Credit Approval And Terms
26. Sales Order Acceptance
27. Shipment Of Goods
28. Invoicing And Accounts Receivable
29. Sales Tax Collection
30. Progress Billing
31. Account Collections
32. Customer Returns
33. Vendor Selection
34. General Purchasing
35. Project Purchasing
36. Receiving And Inspection
37. Shipping And Freight Claims
38. Accounts Payable And Cash Disbursements
2. Finance Policies, Procedures and Forms
1. Document Control
2. Service Processes
3. Continuity Planning
4. Document Control
5. Record Control
6. Annual Stockholder’s Meetings
7. Board of Directors’ Meetings
8. Business Plan
9. Capital Plan
11. Bank Loans
12. Stock Offering
13. Debt and Investment
14. Asset Acquisition
16. Working Capital
17. Cash Management
18. Inventory Management
19. Related Party Transactions
20. Foreign Exchange Management
21. Managing Bank Relationships
22. Merchant Accounts
23. Letter of Credit
24. Financial Forecasting
25. Financial Reporting
26. Financial Statement Analysis
27. Financial Management Review
28. Financial Restatements
29. Financial Information Release
30. Sarbanes-Oxley Compliance
31. SAS 70 Compliance
32. Risk Assessment
33. Risk Management
34. External Auditing
35. Internal Auditing
36. Corrective Action
3. Computer & Network Policies, Procedures and Forms
1. Information Technology Management
2. IT Records Management
3. IT Document Management
4. IT Device Naming Conventions
5. TCP/IP Implementation Standards
6. Network Infrastructure Standards
7. Computer and Internet Usage Policy
8. E-Mail Policy
9. IT Outsourcing
10. IT Department Satisfaction
11. IT Asset Standards
12. PIT Asset Management
13. IT Vendor Selection
14. IT Asset Assessment
15. IT Asset Installation Satisfaction
16. IT System Administration
17. IT Support Center
18. IT Server / Network Support
19. IT Troubleshooting
20. IT User-Staff Training Plan
21. IT Threat And Risk Assessment
22. IT Security Plan
23. IT Media Storage
24. IT Disaster Recovery
25. Computer Malware
26. IT Access Control
27. IT Security Audits
28. IT Incident Handling
29. IT Project Definition
30. IT Project Management
31. Systems Analysis
32. Software Design
33. Software Programming
34. Software Documentation
35. Software Testing
36. Design Changes During Development
37. Software Releases and Updates
38. Software Support
39. Software Consulting Services
40. Software Training
4. Human Resources Policies, Procedures and Forms
1. Personnel Records
2. Forms Development
3. Document Control
4. Mail & Express Services
5. Telephone Answering
6. Property & Access Control
8. Workplace Rules & Guidelines
9. Human Resources Reports
10. Dress Code
11. Employee Hiring
12. Job Descriptions
13. Employment Applications
14. Interviewing Applicants
15. Background Investigations
17. Paid & Unpaid Leave
18. Insurance Benefits
19. Healthcare Benefits
20. Employee Retirement Income Security Act
21. Consolidated Budget Reconciliation Act
22. Development Management
23. Training Reimbursement
24. Computer User & Staff Training Plan
25. Internet & E-mail Acceptable Use
26. Performance Appraisals
27. Employee Discipline
28. Workplace Safety
29. employees with Disabilities Act
30. Family and Medical Leave Act
31. Drug Free Workplace
32. Health Insurance Portability And Accountability
33. Harassment & Discrimination
34. Posting Requirements
35. Equal Employment Opportunity Software Training
5. Sales & Marketing Policies, Procedures and Forms
2. Customer Life Cycle
3. Customer Quality
4. Customer Requirements
5. Customer Service
6. Direct Mailing Marketing
7. Goals and Objectives
8. Internet Marketing
9. Lead Assessment
10. Marketing Plan
11. Marketing Research and Analysis
12. Marketing Strategy Plan
14. Product Cycle Management
15. Product Development
16. Product Launching
17. Product Recall
18. Public Relations
19. Sales Administration
20. Sales and Marketing Document Control
21. Sales and Marketing Records Management
22. Sales Call Management
23. Sales Compensation Plan
24. Sales Hiring
25. Sales Lead Management
26. Sales Supplies
27. Sales Training Plan
28. Situation Analysis
29. Stakeholder Analysis
30. Strategy Team
31. Trade Show Event
32. Vision and Mission
6. ISO 9001 QMS Policies, Procedures and Forms
1. Document control
2. Record control
3. Internal audits
4. Control of non-conforming product/material
5. Corrective action
6. Preventive action
7. Management reviews
8. Competence, training, and awareness
9. Sales orders
10. Project definition
11. Design and development
12. Design change
13. Vendor evaluation
14. Preproduction planning
16. Identification and traceability
17. Customer property
18. Control of monitoring and measuring equipment
19. Process monitoring and measurement
20. Customer satisfaction
21. Data analysis and continual improvement
22. Receiving and inspection
7. Security Planning Policies, Procedures and Forms
1. Procedural security
2. Annual risk assessment and evaluation
3. Ethics and employee conduct
4. Fingerprinting and photographing of employees
5. Policy and criminal violations
6. Employee use of drugs or alcohol
7. Possession and carrying of firearms
8. First aid and medical emergencies
9. Suspicious persons and activities
10. Identification procedures
11. Internal investigations
12. Court testimony by employees
13. Proprietary information
14. Guard program
15. Information security and the edp center
16. Fire prevention and detection
17. Hazardous material
18. Inventory, delivery and receiving controls
19. Security devices
20. Opening & closing cash-handling facilities
21. Transportation of currency
23. Key and access device control
24. Work station security
25. Employee assignments during emergency responses
26. Emergency operating procedures: all personnel
27. Robbery procedures: staff personnel
28. Robbery procedures: management
29. Extortion procedures: staff personnel
30. Extortion procedures: management
31. Bomb threat procedures: staff personnel
32. Bomb threat procedures: management personnel
33. Disaster response procedures: staff personnel
34. Disaster response procedures:
35. Violence in the workplace
36. Personal protection and safety for
37. Executive protection program
38. Testing and training requirements
39. Security training program
40. Documenting investigations
41. Media relations
8. Disaster Recovery Policies, Procedures and Forms
1. Disaster Management & Business Recovery Plan
2. Annual Risk Assessment Exercise
3. Disaster Management Plan: Annual Testing & Training Program
4. Disaster Management and Business Recovery Plan Orientation
5. Synopsis, Disaster Management Plan
6. Disaster Management Plan: (Items for Review and Completion)
7. Disaster Management Plan: Database Screens
8. Sample Personnel Database
9. Sample Equipment Database
10. Sample Facilities Database
11. Emergency List Database
12. Centers of Operation
13. Disaster Recovery Questionnaire
14. Disaster Management Plan: Annual Review
15. Emergency Supplies for Office and Departments
16. Emergency Notification Procedures
17. Service Agreement
18. Data Processing Service Agreement
19. Disaster Recovery Log
20. Chronological Log of Events
21. Testing of Solutions Documentation
22. Recovery Worksheet
23. Restoration Worksheet
24. Resumption Worksheet
25. Reconstruction Worksheet
26. Employee Personal Profile
27. Sample Facility Diagrams
28. Training Handout
HERE IS A SAMAPLE OF A BROAD HR POLICY.
The ORGANIZATION is committed to fair, clearly stated and supportive relationships between the organization and its staff. The HR policies of the ORGANIZATION have been established in order to provide a guide to the HR practices of the ORGANIZATION and to ensure consistency of personnel decisions. It is the intention of the ORGANIZATION to administer the HR programs in a manner which complies with the letter and spirit of all applicable federal, state and local regulations. This document is designed to provide guidance to staff at the ORGANIZATION. It is not a part of any contract between the ORGANIZATION and its employees. It is only a set of informal guidelines for HR practices. Notwithstanding the provisions of the HR policies, all employees are "at will employees" which means that they may be terminated at any time with or without cause without subjecting the ORGANIZATION to a claim for breach of an employment contract.
Recruitment and Selection at XXXX:
• We believe in the maxim "Right-person-for-the-right-job"
• We believe in the phrase "catch-them-young" and hire a number of fresher as Software Engineer Trainees and Management Trainees from reputed Engineering and Management Institutions, impart extensive technical, behavioral and managerial training and create thoroughbred professionals out of them.
The new entrants - Fresher as well as experienced persons joining the organization, across all levels, attend Induction programs individually and/or as groups. The objective is to begin the process of integration of the incumbent with the organization and ensure smooth entry into the organization. This consists of inputs on the following:
• Company Values, Business Philosophy
• Corporate Culture
• Work Culture
• Quality Process
• Project Management
• Information on Business and Future Plans
• Information on Organization Structure
• Systems and Policies
• Performance Appraisal
Emphasis on building lasting Relationships & Team Effectiveness:
• Team Development Workshops aimed at enhancing intra-team cohesion
• We believe that it helps the goal accomplishment when people are able to relate with one another and build lasting relationships & sense of belonging to the organization.
• We believe that it’s the teams of committed people who eventually deliver results. Intra-group cohesion in terms of shared understanding of goals and objectives, cooperation, and collaboration is given a priority.
The Career Planning Policy
Our policy for career planning is a well thought out, planned process. Aim is to develop and prepare people for higher responsibilities. It assists them by identifying various roles they could undertake and skills they may need to develop in order to do full justice to their new role within the organization.
At XXXX, we place People first. In this knowledge industry, we empower our employees with the strength of knowledge and create a 'climate' that is conducive to learning and personal and professional growth. We are a People driven organization that helps it's employees gain a level of freedom that provides security, satisfaction and, most importantly, a sense of professional fulfillment.
• Job rotation at XXXX is aimed at optimum utilization of the available skill sets across the organization. We believe that job rotation is a crucial process which helps individuals to enhance their technical, behavioral and managerial competence.
At XXXX, people are our greatest pride and resource. Our focus lies in bringing aboard some of the finest professionals in the software industry and providing them with opportunities that match their drive and ability. With one of the lowest attrition rates in the industry, XXXX's people-force is inspired, committed, and thoroughly professional. If you have what it takes to become an integral part of an organization that's built and driven by people, then you are the person we are looking for. Simply access the "We Need You" section to post your resume on our site. It could be your first step towards getting closer to an organization full of self driven people. And closer to becoming a part of the collective people-energy that's XXXX- "A software force that's driving relationships globally."
At XXXX you are faced with a challenging Work Environment that is shared by a highly motivated group of people who choose
XXXX because they believe that it's all happening here. We provide:
Opportunities for Entrepreneurship
• Freedom to inspire ideas and be inspired
• In-house training programs for personal and professional growth
• Infinite access to the latest technologies
• Opportunities to take on leadership roles early in your career
• Freedom to experiment and be innovative
• Compensation that is benchmarked with the leaders in the industry
• HR polices that are aimed to strike a balance between work and personal welfare
Variable Compensation Schemes
The compensation policy of XXXX is designed to address the dual need of encouraging high performance amongst all it’s employees and at the same time aligning itself to the highly sensitive IT business scenario.
The total compensation package of an individual is made of fixed and variable components. These variable components are paid annually at different times of the year. The actual payment of the variable component is dependent on the individual’s performance and the company performance in the year under consideration.
The above compensation structure is guided by the principle of a strong emphasis on individual performance and at the same time encouraging a sense of participation and ownership for the company’s performance in any year.
The compensation review exercise is conducted annually. This exercise seeks to align the company’s compensation levels to that of the market. Individual salaries are revised after taking inputs from various sources like performance appraisal ratings, relative performance vis--vis others in the same business unit and various other factors
We believe in employee centered approach and our HR policies and practices are aimed, mainly at, employee care.
We care for :
• People's need for self expression and leisure time (E.g. Special Interest Groups plan, opportunities for putting up cultural show at the Bi-annual Awards ceremony, recreation facilities)
• Self-worth of people (Awards Plan, Motivation Plan)
• Collective excellence (CE's award for best managed project, Rolling trophy for SBU with best customer orientation)
• People development (Technical and behavioral training, Team building workshops. Library, Higher Study Plan)
• People's opinion (Communication meetings, open houses, climate surveys)
• People's need to know (XXXX Voice, Real Time, News Flash)
The High Commitment Work Systems Policy :
As per our High Commitment Work Systems Policy, empowered and independent teams work with responsibility and accountability in an environment of openness. It increases employee involvement and develops a mature work culture. This in turn has a good bearing on the company helping it achieve goals and targets successfully in a competitive environment.
Performance Appraisal Policy
We appraise employee performance on an annual basis, giving people credit for their achievements and setting targets for the forthcoming year. We have developed a balanced policy that is both objective and holistic in its approach. Our HRD personnel facilitate the appraisal process and also train senior personnel in assessing individual performance. They resolve the areas of conflict and follow up on the outcomes of the appraisal.
Our Performance Appraisal System has several salient features :
• An Opportunity for Self-review and Assessment
• A clear and equal focus on both, the End Results and the Process
• Identifying Training and Development needs
• Distribution of incentives in an objective, value based manner
Recognition & Motivation
We believe that our people are our greatest assets and that they are not just employees but strategic partners in our journey to achieve organizational objectives. In furtherance of our stated philosophy, our well-developed policies help us to recognize performance at work.
Recognizing Individuals and Teams
We understand the crucial role recognition plays in motivating employees to demonstrate superior performance. There are many ways in which we acknowledge and appreciate good performance - from a sincere sharing of an ‘I Appreciate’ Note for a specific job well done to granting honors through an established formal ‘Employee Award Plans’.
So if you're an achiever with a passion for setting and attaining goals, you'll find many opportunities for being recognized at XXXX. The ‘Employee Motivation’ Plan at XXXX is another success story – an unique experiment to empower our line managers to recognize and give spot rewards to individuals and team in pursuit of excellence.
Recognizing Collective Excellence
In addition to the above, we have mechanisms to recognize collective excellence at an organization level, on an annual basis. One such initiative is our ‘CE’s Award for Best Managed Project’. The award recognizes excellence in the management of projects and encourages a competitive spirit amongst the Business Units to achieve better performance through higher standards in project management.
To encourages and foster the growth of a customer-oriented culture in the organization and within a business unit in particular, the ‘Rolling Trophy for the SBU with Best Customer Orientation’ has been institutionalized. This award encourages a competitive spirit amongst the business units to achieve better performance through higher standards in customer service.
Training for Development…
We believe in a learning organization, where learning is a continuous process. There is room for those driven by the zeal to surpass their peers and most importantly, themselves.
We mix and match intensive training with equal thrust on job skills and behavioral development. Group therapies and seminars are organized to encourage professional rapport and keep employee morale running high. We realize the value that people add to our organization and formulate policies that take into consideration individual needs and benefits.
Some of the activities that make learning a continuous process at XXXX are
• An extensive orientation-cum-technical training program for Software Engineer Trainee at our well-equipped Training Center
• Conduct Focused Management Development Programs at the premium Management Development Center
• Continuous skill up-gradation on new emerging technologies
• Behavioral Training Programs offered to enhance personal and professional effectiveness of our project groups viz.
• Customer orientation
• Team work
• Self development
• We engage the best faculties in the field for conducting the programs. We also make use of training events offered by premium management institutions ..
OTHER HR POLICIES FOR CONSIDERATION
All employees are classified as either regular or temporary. Regular employees are employees hired without a specific termination date. Temporary employees are employees whose position at the time of hire is for a short-term period. Terms of employment will depend on agency needs, and in no case will a temporary position be construed as being a contract for a definite time.
Employees also are classified as either exempt or non-exempt according to provisions of the Fair Labor Standards Act.
Regular Full-time Employees are those employees who work 40 hours per week and are eligible for all fringe benefits.
Regular Part-time Employees are those employees working at least 20 hours but less than 40 hours per week. Part-time salaried employees are eligible for all fringe benefits and earn sick leave and vacation at a rate proportionate to the hours they work. Regular part-time employees that work less than 20 hours per week are not eligible for fringe benefits.
Temporary Employees are those employees who are paid hourly under Letter of Agreement for a specified period of time. Temporary employees are not eligible for benefits.
The policy and intent of the ORGANIZATION is to provide equal employment opportunity for all persons regardless of race, color, religion, national origin, marital status, political affiliation, affectional orientation or gender identity, status with regard to public assistance, disability, sex, or age.
The ORGANIZATION intends to respond affirmatively in its employment practices. Affirmative action applies to all aspects of employment practices including, but not limited to, recruiting, hiring, placement, promotion, demotion, transfer, training, compensation, benefits, layoff, recall, and termination. The ORGANIZATION seeks to do business with organizations that encourage equal employment opportunity.
The ORGANIZATION intends to recruit, hire, and place applicants on the basis of the applicant's relative knowledge, skills, and abilities. The decision to employ an applicant will be based solely on the individual's qualification for the particular position along with other requisite job skills. Minimum qualifications shall be specified in the job description.
When a new position is established, the Executive Director will prepare a job announcement identifying the position's responsibilities and overall relationship to the ORGANIZATION for posting or circulation within the ORGANIZATION and for public notification. Posted positions will be open for a minimum application period of 15 days.
The ORGANIZATION will establish a 40 hour weekly work schedule, and whenever possible will accommodate each individual's personal commitments and the needs of the organization.
HOLIDAY SCHEDULE [ THIS WILL VARY WITH THE COUNTRY ]
Official holidays are as follows:
When New Year's Day, Independence Day, or Christmas Day falls on a Sunday, the following day shall be considered the official holiday. When these holidays fall on a Saturday, the preceding Friday shall be considered the official holiday.
Each employee of the ORGANIZATION also shall have two floating holidays to be used in each calendar year.
For regular part-time employees, holiday time will be compensated in proportion to the usual hours worked. Temporary employees are not compensated for holidays.
The ORGANIZATION desires to assist new parents in balancing the demands of working and caring for children. The ORGANIZATION will provide up to 8 weeks of unpaid family leave to any employee for the birth or adoption of a child. Leave must be initiated within six weeks of the birth or adoption of the child, unless otherwise approved by the Executive Director. The use of the 8 weeks shall be at the discretion of the employee and shall be discussed with the Executive Director as to its impact on ongoing work responsibilities and other employees. Although a maximum of 8 weeks is available, an employee may utilize accumulated sick leave as well as annual leave to enable either partial payment for or extension of the basic 8 week period. Special circumstances shall be reviewed by the Executive Director. Insurance benefits will continue to be in force during this leave period but all premiums and expenses for benefits will be paid by the employee. Accrual of leave benefits and seniority cease during an approved leave. Upon completion of leave, the employee will be allowed to return to the same or a substantially similar position at the same salary as the employee earned prior to the leave.
ANNUAL LEAVE (Vacation Time)
The ORGANIZATION will provide to each full-time staff employee 120 hours or 15 working days paid annual leave based upon one year's full time employment with the ORGANIZATION. Accrual of annual leave will commence upon the date of employment for each employee and will be based, on an annual basis, upon each individual's anniversary date with the ORGANIZATION. Annual leave will increase with the number of years employed by the ORGANIZATION as follows:
0-3 years = 15 days
4 years = 16 days
5 years = 17 days
6 years = 18 days
7 years = 19 days
8 years = 20 days
Employees may use their annual leave as earned if absence from assignment does not unduly provide an impediment for completion of an assigned task or prevent other staff from completion of their work assignments. The Executive Director must approve scheduled absences and the employee should request such leave as soon as possible, with a minimum of two weeks in advance.
It is the policy of the ORGANIZATION to encourage each employee to utilize allotted annual leave during each individual's employment year. A maximum of five days, or 40 hours, will be allowed to be carried over from one year to the next. All other accrued annual leave will be forfeited on the employee's anniversary date. The interchange or exchange of annual leave and sick leave is not allowed.
Special leaves of absence without pay may be granted an employee at the discretion of the Executive Director or in the case of the Executive Director, the Board of Directors.
The ORGANIZATION will provide up to ten working days each employment year to each staff person to be utilized for purposes of addressing health needs. Compensation will be based upon the employee's salary rate at the time sick leave is taken. Sick leave may be utilized at the discretion of the employee and is granted for sickness of the individual employee, his or her spouse/partner, children, or other immediate family members. Sick leave can also be used for health needs, e.g. dental or medical appointments.
Each staff person of the ORGANIZATION should notify the office each day they will be absent from work due to illness, if at all possible.
Sick leave may be accumulated up to a maximum of 90 days and may be carried over from one employment year to the next. At no time will compensation for any unused sick leave be made to an employee who is leaving employment.
Sick leave will be pro-rated for regular part-time employees. If requested by the Executive Director, the employee will provide documentation from their treating physician explaining their absence.
Employees of the ORGANIZATION shall be granted up to three working days with pay due to a death in their immediate family (mother, father, sister, brother, spouse/partner, children, in-laws, grandparent, and grandchildren). The Executive Director will consider special cases on an individual basis.
It is the ORGANIZATION's belief that the employees of the ORGANIZATION are the primary means by which the goals and objectives of the ORGANIZATION will be met. To that end, the rights of all employees must be respected. All employees of the ORGANIZATION must understand its position on harassment. By definition, harassment is any unwanted attention or action prohibited by law by someone in the workplace that creates an intimidating, hostile, or offensive work environment, including sexual harassment. The procedure for reporting and dealing with this very sensitive issue is as follows:
• If a person's behavior makes an employee uncomfortable, the employee should feel free to immediately advise the person that, in the employee's opinion, the behavior is inappropriate and that the employee would like it stopped.
• If the employee is not comfortable discussing the issue with the person, or if the person fails to respect an employee's request, the employee should report the incident to his or her supervisor. If, for whatever reason, the employee does not feel that the supervisor is a suitable person to whom to report the incident, the employee should contact the Executive Director or, if appropriate, the Board Chair or a member of the Personnel Committee.
In all instances, a prompt, thorough and, fair investigation will take place, giving careful consideration to protect the rights and dignity of all people involved. The ORGANIZATION will take those steps it feels necessary to resolve the problem, which may include verbal or written reprimand, suspension or termination.
No retaliation or any kind will occur because an employee has in good faith reported an incident of suspected harassment. The supervisor, or other person to whom the complaint was made, will work to establish mutually agreed upon safeguards against retaliation while attempting to mediate any sexual harassment complaint.
Q2. a) Identify the unique competencies of Ranbaxy Laboratories.
Drive Results & Excellence Applies and inspires a results-driven approach, focuses on processes while delivering results; Drives accountability within team and areas of influence
• Drive Results
• Process Excellence
• Ownership & Accountability
• Quality Mindset
Strategic Thinking Sees connections, patterns or trends in the information available; Understands key business drivers within Ranbaxy, the industry, market and customer segments and identifies links between situations and information to generate business opportunities
• Strategic Agility
• Business Intelligence
• Commercial Acumen
Collaboration & Trust Able to identify, build and maintain strong and sustainable partnerships with different stakeholders across teams, business units, functions and geographies to meet business objectivesCompetency Elements
• Build Strong Network
• Leverage Partnerships
• Live by Values
Nurture Talent Committed for development of self and others; Offers frequent and constructive feedback; inspire team members to take higher responsibilities within the organization. Shares own knowledge and expertise to improve team’s performance
• Develop Self
• Develop Other
Customer Centricity Reinforces the importance of being customer focused; encourages a culture that values customers; monitors and acts on feedback from customers; Focuses on delivering solutions that meet the needs of customers
• Understand Customers
• Deliver Customer Value
Executive Effectiveness Understands and articulates information to customers, peers and managers; Able to win support, gain cooperation and overcome objections and barriers; Maintains calm, stable performance when under pressure or in a crisis
• Effective Communication
• Impact & Influence
• Resilience & Positivity
Leading Change Sets the change agenda, adapts & aligns efforts and resources towards organizational goals; Shows sensitivities towards diverse perspectives and culture while driving change
• Embrace Change
• Respect for Diverse Perspective
Solution Orientation Takes action to promote or implement innovative ideas; Generate innovative solutions in work situations; try different and novel ways to deal with work problems and opportunities
• Openness to New Ideas
• Problem Solving & Decision Making
b) Discuss in detail the various modes of entry adopted by Ranbaxy. (Refer to the case study given in Block 3)
1.LOCAL DISTRIBUTORS IN INDIA.
Direct exports represent the most basic mode of exporting made by a (holding) company, capitalizing on economies of scale in production concentrated in the home country and affording better control over distribution.
3.Nonconforming purchasing agents
These are similar to confirming houses with the exception that they do not pay the suppliers directly – payments take place between a supplier/manufacturer and a foreign buyer.
An international licensing agreement allows foreign firms, either exclusively or non-exclusively to manufacture a proprietor’s product for a fixed term in a specific market.
A strategic alliance is a type of cooperative agreements between different firms, such as shared research, formal joint ventures, or minority equity participation.