Human capital development have a strong relationship with strategic planning process. In an organization, human capital development on strategic planning process can consider as a main tool for influencing and shaping attitudes, skills and behaviour of the individuals in their duties and jobs. With a proper management on human capital development, they are able to create a new goods and services. Furthermore, it is a good concepts and specialized with strategic planning process and environment by giving a specific tasks due to the deliberations on the objectives. Hence, after the organization improve the management of human capital development on strategic planning process, the organizations are definitely have some breakthrough and progress.
As a key driver of economic development, innovation plays a pivotal role in competition at both firm and the national levels (Tellis, Prabhu, & Chandy, 2009); and considering the organizations’ dynamic and complex conditions in the face of global competition, organizations’ need to innovate becomes continually stronger (Tellis et al., 2009). According to previous literature, there is a positive link between innovation and a range of desired performance outcomes (Garcia-Morales, Matías-Reche, & Verdu-Jover, 2011). Therefore, empirical studies have thrown new light on innovation. The major part of this study focuses on manufacturing firms and literature seems to reveal lack of empirical studies with reference to supporting innovation in service firms that deliver high “value added” services. One proposition is that organizational culture is a key player that encourage processes supporting innovation (Tellis et al., 2009); and this view is more relevant in the context of professional service firms.
Leadership, by contrast, is about coping about change. Part of the reason it has become so important in recent years is that the business world has become more competitive and more volatile. Faster technological change, greater international competition, the deregulation of the markets, and overcapacity in capital-intensive industries……. and the changing demographics of the workforce among the many factor that contributed to this shift. More changes are more and more necessary to survive and compete effectively in this new environment.
STRATERGIC SOURCING/PROCUREMENT Strategic sourcing is the development of relationships between the supplier and the management to acquire goods and services for the needs of the business. In the past SOURCING was termed as PURCHASING. The term SOURCING implies a more complex process suitable for products which are strategically important. Today due to the competition and the emerging new technologies, competitiveness between firms is vastly observed; therefore acquisition of the best available capabilities inclusive or exclusive to the organizations is given vital consideration. In such matters sourcing is not only taken at the level of management but also considered a crucial element of the survival of the business and given high importance.
The reason for this is the belief that it is a source for competitive advantage and has the ability to influence organizational performance in a positive way. In an environment where HRM is a critical source of competitive advantage, it can also contribute to sustained competitive advantage by assisting the development of competencies, unique to a particular organization. Strategic HRM involves in the formation of a presumed link between overall strategic aims of an organization and greater adoption of its HRM strategy and implementation. The main proposition behind this presumption is that HRM practices affect employees’ attitudes and behaviour, which influence the operational performance, such as improving quality, productivity and innovation. Put these together, will create a positive impact on the organization’s overall efficiency and thus, its bottom line.
Problem statement A way to analyze the inbound logistics is to look how to apply the current trade standards, the Incoterms. As the global sourcing environment is a reality, it is increasingly important to understand the impact that Incoterms have on the total cost of a product (Shah Baljko, 2002) . As JoC Week (2002) states, by exercising greater control of the inbound logistics, a firm can leverage its buying power when purchasing its own transportation. An additional action is the consolidation of shipments from multiple shippers that previously would have arranged their freight individually. Specific focus on inbound logistics is observed in plenty of companies mainly due to the economic environment and competitive landscape that are forcing companies to find alternative ways in order to reduce cost and improve productivity (Hannon,
INTRODUCTION Most manufacturing companies are currently encountering a necessity to respond to the rapid changing of customer desires and tastes. For companies, to remain competitive and retain market share in this global market, continuous improvement of production system processes has become a necessity in each company. Competition continuously increasing standards for customer satisfaction purposes has proven to be the infinity driver of organizations performance. Lean manufacturing is one of the best solution for production systems in various industries Reichhart and Holweg (2007). Lean manufacturing consists of lean tools such as 5S ,Kaizen, TQM , lean thinking and lean training (Lanigan, 2004; Ramakrishnan & Testani, 2010).
The word has been changing rapidly because liberalization, globalization and technology advancement has been coming along. The importance of human resource management has also been brought to the center of attention by the advent of globalization these days. The basic aim of human resource management is to deploy best human resources in order to maintain and sustain the quality across the culture and meet the needs of customers at both domestic and global level. Utilization of human resources has become vital for the competitive advantage of the organizations. For the improvement of production and functional efficiency organizations need to bring in the best human resources because it is the basic task of an effective human resource management.
Review of Related Literature Internal Auditing There has been an increased demand for internal auditing as organizations and business environment are becoming more complex, which brings the need to assess different business risks (Allegrini, et. al, 2009). With the increase of complex business environment, more pressure will be put on the profession of auditing. The Institute of Internal Auditors (IIA) defined internal auditing as follows: Internal Auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization 's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.
ii. The vast customer segment and wide service range also create threats and weaknesses. It is a great challenge for being able to handle each service range and to deliver quality customer service for a huge segment of different kinds of customers. The company is in need to develop their competencies to be relevant to the industry. It has the capability to not only add to their profitability slab but to influence the market.