Is Liquidity Risk Management Important For Rbs Finance Essay - Free Essay Example

Liquidity and Liquidity Risk management, both are important for organisation so there is not single question regarding its importance towards RBS. I can say yes because Liquidity Risk Management enable organisation to pay its debt when they come due with certain condition and specified manner. Yes, Liquidity risk management is important especially for financial organization as well as for banks. It enables organisation to pay its debts in time without loosing values of firms assets. Answer 1.3 No, Liquidity Risk Management is not as much important as other financial strategic decision making because If you some effective financial strategy in the business than Illiquid situation will never come to face. So financial strategic decision making is important for RBS as compared to Liquidity Risk Management. Answer 1.4 No, RBS will never depend on the Liquidity Risk Management because before last recession RBS was maintaining Liquidity risk even though RBS had faced shortage of cash. It is not much important for RBS than other risk management. Answer 1.5 Liquidity risk management is not important for only RBS but it is also important for all banks and financial institutions. Liquidity can make firm to enable to pay its obligations when they come due. Answer 1.6 Yes, I think it is important for RBS to maintain credit balance in both RBS and NatWest. Answer 1.7 Liquidity and its management both are the part of financial strategies of the business. RBS is a financial institute and it is quite necessary for them to maintain enough cash fund to pay its debts in time and liquidity risk policy enables to do so. Liquidity and Recession 2 What was the reason behind the last recession especially for Banking sector (RBS)? Answer 2.1 First of all last recession of 2007-2010 was came from United States of America by subprime mortgage crisis and it was impacted to only financial sectors of world and specially to western countries. End of 2006 and start of 2007 was boom time, there were only growth in the market. Banks were lending money in the market without any securities. Due to coming in overconfidence bye banks and investors, recession time start and it was reason for RBS also because before this time RBS was doing quite well. Answer 2.2 It was only due to overconfidence of financial institutions. Financial organizations came into over confidence and invested money in the market without any securities. This was the reason of global financial crisis. RBS was also come into trouble because of worthless acquisition. For business development RBS did lot of acquisition and invested lot of money even some of those acquisitions were useless and worthless. Answer 2.3 Reasons behind the last recession were sub-prime mortgage crisis, housing bubble and oil pricing bubbles. These three hurdles had also affected to RBS and all financial institutions and some of them were fall down. Answer 2.4 Lack of securities and overconfidence were reasons behind the global financial crisis. Answer 2.5 It is clear and everyone knows about the recession, its reasons and its effects. Sub-prime mortgage crisis was the main reason behind the credit crunch. Same things happened with RBS. Answer 2.6 Reasons for the last recession were housing price bubble, lack of liquidity fund, sub-prime mortgage crisis and increasing inflation. Answer 2.7 RBS was using acquisition techniques for business expansion. It was right but not suitable because reserve fund is also necessary during critical time to survive. RBS had not maintained liquidity fund and due to this, RBS had to face credit crunch. 3 Can liquidity risk management help organisation to survive during recession? If yes than how did it helped to RBS? Answer 3.1 If we talk in the context of last recession than I will say yes because last recession was only due to not available enough cash with organisation, and liquidity management is only key to solve this problem so it is quite true to say that LRM helps organisation to survive during recession. Answer 3.2 No, Liquidity risk management can help organisation to solve illiquid situation where as last recession was due to non availability of fund that business do need for their operation as well as to meet regular expenses. Liquidity Risk Management can not solve insolvency condition. Answer 3.3 Yes, it can help organisation to survive during credit crunch but at some extent only. Answer 3.4 Liquidity Risk Management is one of the risk management policies. It can help organisation to solve short term funding problem but last credit crunch was into action for almost 3 years. So it is not possible with Liquidity Risk management. Answer 3.5 Sometime it can help or sometime it can not. So it depends upon the circumstances of the problem. If we talk in the context of last credit crunch, it can and it also did to many banking organizations. Answer 3.6 Risk Management policies are most important for all business organisation and Liquidity Risk Management policy is one of them. So it is also important and helpful for business organisation like as RBS. Answer 3.7 Now a day, Business can perform on the base of certain strategies and policies which can help an organisation to develop and run business even in tough conditions as well as to gain competitive advantages. So Liquidity Risk Management policy is one of them which help us to deal with short term payments and debts. Liquidity and Trust, Reputation and Solvency 4 From your point of view, is there any relation between liquidity and solvency? Answer 4.1 Yes, because liquidity and solvency are two sides of a coin and they are connected with each other. Illiquidity comes from insolvency but insolvency never comes from illiquidity. So I can say like as there is a relationship between liquidity and solvency. Liquidity is a part of solvency. Answer 4.2 No, there is not any relation between Liquidity and Solvency. Illiquidity doesnt come from insolvency but Sometime insolvency comes from the continuous illiquidity. So there is only on side relation, illiquidity comes from some business loses and wrong investment decision like as RBS did in past. Answer 4.3 Liquidity and solvency are connected with each other, so I can say that both have relation with each other. Answer 4.4 Yes, they both are two sides of a coin. If Illiquidity happens than insolvency will also happen after sometimes. There is a positive relation between liquidity and solvency. Answer 4.5 Yes, there is a relationship between liquidity and solvency. If company has sound liquidity management policy than insolvency condition will never come in the business. We have some example, Lehman Brother collapse, why? Because of improper management of fund and wrong investment decision, continuous illiquid situation surged insolvency. Answer 4.6 No, Answer 4.7 No, because Liquidity deals with short term debts and Solvency deals with long term debts. So there is not any relation between liquidity and solvency. 5 Do Liquidity Risk Management Policy help organisation to build trust and Reputation? If yes than how? Answer 5.1 I think yes, Liquidity can defiantly make an impact on trust and reputation of the company. In todays business world, all investors and stakeholders want to invest on those companies which are doing well by their business financial transaction. It means on time payment to creditors, dividend to shareholders, interest to banks and other loan holders, even wages to staff also. Liquidity helps organisation to pay its debts on time when it fall due. So Liquidity can do impact on trust of stakeholders and reputation in business world. Answer 5.2 Yes, Business transaction and in time payments in business always increase business reputation in the market and trust of stakeholders which do business with company. Reputation can also build up by other tools of business but trust of shareholders and stakeholders can only build by regular business. Answer 5.3 Yes, it definitely helps organisation to build trust and reputation.

The Global Financial Crisis Of 2008 Essay - 1925 Words

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Essay on Taekwondo Informative Speech - 761 Words

Informative Speech Taekwondo Introduction Have you ever seen a martial arts demonstration, or hear of a demonstration team? Well, let me start off by telling you what a demonstration, or demo, team is and what they do. A demo team is a group of elite martial artists chosen to represent the school of martial arts to which they attend to the public during martial arts demonstrations. During these demonstrations they perform impressive feats that wow the audience such as, difficult board breaking techniques and impressive techniques learned through the study of the martial art they are representing. During my high school years I had the pleasure of being one of these elite martial artists. In the demonstrations I participated in I did†¦show more content†¦II. So I bet your all wondering what the heck taekwondo means. Well, according to martialartsresource.com, Tae means foot or to strike with the feet. Kwon means hand, or to strike with the hand. Do means discipline, art, or way. Hence TaeKwonDo (foot-hand -way) means literally the art of the feet and the hands or the art of kicking and punching. A. Tae kwon do is a marital art that deals primarily with kicking. B. The focus on kicking is designed with the thought in mind that the leg is the longest most powerful weapon a martial artist has at his/her disposal. 1. This fact means that a martial artist that is very good with his legs can strike an opponent while he is still outside of his opponents range. 2. While remaining outside of your opponents rang you can deal highly damaging blows without having to take any powerful blows from your opponent. III. Tae kwon do customs differ slightly depending on where it is taught. A. Tae kwon do practitioners generally practice bare foot and in places like gymnasiums. B. The uniforms worn by practitioners used to be the kind that you fold over and tie together, but because of the sport-like nature of it these days they uniform style of the V-neck is becoming increasingly popular. C. Practitioners of taekwondo generally take part in sparring matches. 1. Theres a lot of gear you

The International Agreement And The Treaty Of Versaille

The International agreement, â€Å"The Treaty of Versaille† concluded the first World War, but was biased against Germany which may have sparked World War Two due to the reduction of military power and land, the overwhelming debt, and the unfairness of the treaty. After the war Germany was not a very popular country across the world to say the least, because of this some countries may want to seek revenge. It is unfair to the innocent people of Germany to have such a small form of protection against possible invasions. U.S. President Woodrow Wilson met with English Prime Minister David Lloyd-George and French Premier Georges Clemenceau at the Versailles Peace Conference that determined the shape of postwar Europe. Almost 10% of the German†¦show more content†¦The amount of land that was lost took a huge toll on germany as they already were millions of dollars in debt after the war. The loss of territory meant an effacement of the German empire that Otto von Bismarck had established under the Prussian Monarchy. The reality of defeat and the fragmentation of the German empire were humiliating to the Germans. Germany lost 13.5 % of its territory under the terms of the treaty. Close to seven million German citizens were placed under the j urisdiction of a foreign nation. The League of Nations took control of the free city of Danzig and the allies took control of the Rhineland for fifteen years. The Rhineland was demilitarized under article 180 of the Versailles Treaty. It was considered the industrial heart of Germany and the source of its military power. Germany also lost its colonies and large merchant vessels (yanak). (you re The addition loss of the Polish corridor separated East Prussia from Germany, Germany lost 16% of its coalfields and half its iron and steel industry, which further damaged the German economy. Adding to the even crueler restrictions was to the german army. The French sought in the postwar treaty to limit Germany s potential to regain its economic superiority and to rearm. The German army was to be limited to 100,000 men, and conscription proscribed; the treaty restricted the Navy to vessels under 10,000 tons, with a ban on the acquisition or

The Lack Of Sufficient Gun Control Laws - 1595 Words

The United States of America has about 270 million privately held firearms, with about one gun per person (Fisher). This is more than 25% of the worlds registered firearms, and the population of the United States accounts for a meager 4 percent of the world. The reason for the staggering number of guns is because of the second amendment, which states, â€Å"A well regulated Militia, being necessary to the security of a Free State, the right of the people to keep and bear Arms, shall not be infringed.† (U.S. Const. am. 2) Because of the vague nature of the wording, different people interpret it in different ways. Some say that â€Å"the right of people to keep and bear Arms† indicates individual ownership of guns, while others believe that the†¦show more content†¦If law-abiding gun owners cannot obtain rifle ammunition, or face substantial difficulty in finding ammunition available and at reasonable prices because government entities are banning such ammunition , then the Second Amendment is at risk† responds republican Chuck Grassley, the Senior United States Senator from Iowa to a move by the Obama administration to ban a type of ammunition that pierces police body armor. The rationale is that the type of ammunition that is sought to be banned is a popular type of ammo in the top-selling AR-15 rifle. Banning this specific ammo would deliberately stop gun owners from being able to use their own guns. What these gun-rights activists are failing to understand is that the second amendment indicates something different from what gun owners want it to say. In 1991, John Paul Stevens, a retired justice of the Supreme Court who served for over 30 years, remarked that the second amendment â€Å"has been the subject of one of the greatest pieces of fraud, I repeat the word fraud† in response to vigorous campaigns by the National Rifle Association (NRA) claiming that federal regulations severely invaded Americans’ Second Amendme nt rights. He recounts how â€Å"When I joined the court in 1975, that holding was generally understood as limiting the scope of the Second Amendment to uses of arms that were related to military activities. During the years when Warren Burger was chief justice, from 1969 to 1986, no judge or

Protocols for Wound Care Management-Free-Samples for Students

Question: Discuss about the Policies, procedures, and protocols for wound Care Management. Answer: Introduction According to Thomas, (1990 pp. 300-310) a wound is a break or a defect on/in the skin as a result of mechanical, physical or thermal damage. It might also develop as a result of an underlying physiological or medical disorder. Collier, (2002 pp. 55-63) it is an abnormal break in the (skin) intact and normal covering of the body. A wound is a break in the dermis or epidermis as a result of pathological changes or trauma on the skin or body, (Collins, Hampton and white 2002). Wounds can be classified according to their severity: acute, chronic, palliative, healed wounds. McCulloch, (2014) wound management involves assessing both the wound and the patient. Then planning intervention using the assessment data obtained. The third thing is regular evaluation of these interventions and lastly educating the patient and the care giver on the wound management after being discharged. The policy main aims are to guide the health care providers on having a standardized way/method/approach towards wound care which will be within the holistic framework of care. Wound healing process is one aspect of the bodys response to trauma/injury, for complete healing the whole person (holistic care) needs to be attended to not just the wound, (Dealey (2005).It was also developed so as to be of assistance to the nursing staff when managing the wounds so that they can be able to choose the appropriate dressings. The market has over 2000 types of wound dressing materials. Policies, procedures, and protocols Their purpose. All the policies formulated on wound care management have similarities. They all have similar targets. 1) Provision of a standardized approach within the holistic care framework in wound care. 2) To ensure there is the appropriate management of surgical, acute and chronic wounds. 3) To make sure that the most appropriate product for wound care is being utilized so as to achieve patient's comfort, cost effectiveness, and the most importantly optimum wound healing. 4) Its a guideline for the nurses to ensure that there are no omissions while managing the wounds that can cause lead to delayed healing or even complications (Australian Wound Management Association, 2010). 5) To help in promoting and having a coordination in systematic approaches towards wound management and ensuring that the patients quality of life is maintained while making it known to them that it is not always possible to achieve a complete healing. 5) The last common purpose of the policies and procedures towards wou nd management is to ensure that the wound care complies with all the requirements as dictated by the Health Act (2006a). It states that there should be a specific Code of professional Practice aimed at reducing the infections related/associated with healthcare (NWS Ministry of Health, Infection Control, 2007) Two different policies, procedures and protocols on Wound care management. I identified two policies on wound dressing addressing different institutions. The first one is addressing the Doncaster and Bassetlaw Hospitals. Written by Sue Johnson who is the leading nurse in wound care and Tracy Vernon who is the lead nurse tissue viability. This policy was approved on 2012 and was recently reviewed in 2015. The second policy is the wound management procedures and policy in the community setting. The target group was NHS Walsall Community Health and Allied Health Care Professionals. It was written by Elaine Westwood and directed by the lead nurse Tissue viability. Was published in 2013. As mentioned earlier policies on wound management have similar aims although they all differ. Examples of the differences between the two policies. The first policy: the one addressing Doncaster and Bassetlaw hospital is less detailed in the procedures of the wound management; assessment, intervention, evaluation and the re-evaluation (Carville, 2014) It seems like it is a summa ry of the procedures and protocols, unlike the second policy which gives detailed information on wound management. The second difference is that the first policy has given the directives of what is to be done and by who. For example to expound on that, in case of wound infection the clinician has been directed to take samples for culture and tissue viability tests. Comparison of the two policies. Assessment There should be a comprehensive assessment of the needs and in this regard the health needs of the patient in regards to wound care. Provide a continuity of care on the wound management, it has to be a collaborative care where different nurses meet the needs of this patient. Ensure standardized approaches are the only ones used when it comes to wound care management. Have utilization of the most appropriate and optimum products in wound management which provides patients comfort and are cost effective. For patients with non-healing wounds, the priority in wound care management should be geared towards patient's comfort, pain relief, get rid of malodor and prevent hemorrhage. All these policies aim at a holistic patient and wound healing. The differences between the two are the details on assessment. The second policy is more detailed giving the protocols/procedures to be used in each step for example. Assessment can be classified into four major areas, (Morison, 1992). General factors (patient assessment) that could cause a delay in the healing of the wound. The immediate cause of the wounds (the pathophysiology behind it and also the environmental events that may have led to it). The local conditions at the wound site that is the assessment of the wound. Lastly, the effects the wound will be having on the patient that is an assessment of possible outcomes. With this assessment, the health care provider is able to identify the healing capacity of the patient, come up with a treatment plan, know and eliminate factors that delay healing of the wound. The patient assessment is thorough, as they assess all the factors that can cause a delay in wound healing. For example, the nutritional status is assessed as good nutriti on provides the raw materials for healing. Gray, D et al (2011); Medline, S (2012 pp. 12-26) states that minerals for example zinc are required for wound healing. Blood circulation is also considered as good circulation in the wounded area causes fast wound healing as there is a good supply of oxygen and nutrients to wound. Smoking habits of the patient as the chemicals in the cigarettes destroy the cells responsible for the wound healing (Krueger and Rohrick 2001). The drug therapy that the patient is on is evaluated. The immunity. Age is evaluated as older people cell replication is lower than cell death. Obesity is examined as in adipose tissues there is very poor vascularity (Mulder et al., 1998; Melling et al., 2001). The psychological status is also evaluated as in stress situations a lot of stress hormones are released causing a delay in wound healing. Anderson, (2014 pp. 84-91) diabetes, low immunity, smoking, use of corticosteroids facilitates wound healing delays. The seco nd assessment is the environment or the events surrounding the wound healing. The second policy sufficiently exploits this sector unlike the first one. Further mechanical injuries that can cause more harm on the granulation of the cells for wound healing (Pulman 2004), presences of tumors and poor hygiene. The third assessment is on the wound itself. Both policies explain how it should be assessed the first policy explains more. (Watret, 2005 pg. 18-26) it explains what to look for when assessing the wound. Wound cleansing, Wound infection, Wound dressing and selection of materials, There are similarities and differences on the guideline of how to do the above. The two agree that wound cleansing is to be done so as to remove contaminants with minimal pain to the patient and also prevent trauma to the healing tissue. The second policy explains more on cleansing. Expounds on debridement both the one that can be done at the bedside and also the surgical one. Unlike the first policy, it expounds on the exudate management from the wound. On wound infection, the second policy helps the health care provider in having a distinction between wound infection and wound colonization. Wound infections are a common hospital acquired infections (Bruce et al 2001 pg. 1-194). It explains on the dressings that are ideal for use. The choices of dressings. It has more explanation on auditing and education to the health care providers. The second policy is more comprehensive compared to the first one. It digs deeper on wound care leaving nothing unexplained. It is more rigorous than the first policy. Interpretations of the results above. The second policy(NHS Walsall Community Health and Allied Health Care professionals) is superior to the first policy(Doncaster and Bassetlaw Hospitals) as it is a continuation of the first policy that was developed in 2004 later on amended on 2007 and now this is the polished policy. This policy was developed after the Walsall manor hospital merged with Walsall Community Health. This increased the size of the firm and also the size of the target group, unlike the first policy that serves only two hospitals (Doncaster and Bassetlaw hospitals). With a huge pool of patients, it means a presentation of more complex conditions. This could be the reasons as to why the policy is more expounded. It also covers all types of wounds and their specific wound care as the patient conditions/ presentation are more and more complex. It has a huge responsibility. The second reason as to why their policy is more superior is because more resources are available to the Walsall health care organization. They run a Walsall health fundraising committee which gathers funds to be used for patient care. The second policy is more rigorous than the first policy. Conclusion Wound care management requires a holistic approach. Treating not only the wounded part but also the whole body. Wounds are caused by several causes and without proper care, they can cause more harm to the body. There are policies, protocols, and procedures that have been formulated to aid the health care provider in wound care management. Doncaster and Bassetlaw Hospital policy (the first policy) and NHS Walsall Community Health and Allied Health Care professionals' policy which is the second policy. From the above, it is clear that both policies strive to achieve the same goals the differences are on the content and the explanations on the procedures, protocols, and policies. From the two policies, they address the same issues when it comes to wound care management. The second policy is more superior and more vigorous than the first policy as it addresses more wound type and their care. It also expounds more on wound care and management. References Amin, N., (2016). Diabetic Foot disease: From evaluation of the foot at risk to the novel diabetic ulcer treatment modalities. Vol 7(7) pg. 153-164 Anderson, K., (2014) Factors That Impair Wound Healing. J AM COLL CLIN WOUND SPEC. vol 4(4) pg.84-91 Benbow, M., (2010) Mixing and matching dressing products, Nursing standards. Vol 24(49) pg. 56-62 Carville K., (2012) Wound care manual 8th edition, Silver Chain Foundation, Perth. Dealey, C., (2005). The care oNursingf wounds: A guide for nurses. Oxford Blackwell science limited. Department of health (2006). The Health Act: A Code of Practice for the Reduction of health care associated infections. London. Department of health NSW patient Matters, Section 9 Gray D et. al. (2011) Consensus guide for the use of debridement techniques in the UK. Wounds UK. vol 7(1) Kingsley A., (2009). A proactive approach to wound infection. Nurse standards. 15th edition, vol 30, pg. 50-58. McCulloch J, et al., (2014). Wound healing. Alternatives in management. 2nd edition, Philadelphia F.A.Davis. Medlin, S., (2012). Nutrition for wound healing. British Journal of Nursing. Vol 21, issue12, pg. 12-26 Meggers, J., (2008) Defining infection in a chronic wound; does it matter? Journal of wound care. Vol 7(8). Pg. 389-392 Miller, M., Dyson, M., (2016). The principles of wound care. London Macmillan Magazine Ltd. NMC, (2008).codes of professional practice London NMC. NWS Ministry of Health (2007) infection control policy Silhi, N., (2008) A review of the diabetes-related factors that affect wound healing. The journal of wound care, Vol 7(1) pg. 47-51) The Australian Wound management Association Inc. (201

Human Resource Management Ethics and Employment

Question: Describe about the Human Resource Management for Ethics and Employment? Answer: Introduction This report has been prepared on Thames Water that is one of the worlds largest service providers of wastewater and water service providers in the UK, Europe, Africa, Asia, and the USA. The company is known to offer the best services to the clients, at a reasonable price. This report has been prepared on the strategic human resource management system that has helped the company in handling issues associated with the HR. human resource management is quite important for the business development, especially when the companies operate in the international market. HRM provides an effective and reliable support to the different operational activities that exists within the company. Thames Water operates from various parts of the world, and thus reliable SHRM method has to be adopted and implemented. This report highlights the relevance of the strategies and the benefits associated with its implementation process (Boxall and Purcell, 2008). Importance of the SHRM With the help of strategic human resource management process, the management of the company work beyond the administrative tasks to handle the issues related to HR. Thames Water proposes to open business operational activities in different countries, and thus intend to adopt effective strategies to handle the issues associated with the human management within the company. Employees of the company form an important part of the organization. Handling the issues faced by the staffs from various departments of the company is not an easy task. For this, the managers, team leaders, and the executives of the organization get involved with the task associated with the human force handling. The role of the employees of the company is vital, and thus it is necessary to evaluate the challenges involved with it in the best possible manner. Through effective human force handling process, the company can motivate the staffs to work towards the business development. This would help in the business development and gaining a control over the level of competition that exists in the industry. Through this process, the management of the company value the staffs and encourage the employees to work towards the goal achievement. This would improve the profit earnings ratio for the company (Campbell et al., 2007). Highly motivated staffs always contribute towards the improvement in the profitability process. The company values and attribute the success to the contribution made by the staffs. At present, Thames Water has proposals to increase the business performance through strategic acquisition. This includes hiring efficient and qualified staffs who could handle the complex work atmosphere. Through this process, the management of the company aim to work towards the below mentioned factors provide employment securityintroduce or engage in the process of selective hiring methoddevelop teams and provide the members with required resources to handle the issuesintroduce decentralised method for improving the performance (Evan, and Freeman, 2004) The management of the company has introduced effective training process through which the staffs are encouraged to perform the tasks in the best possible manner. Training programs are developed with an intention of providing the employees with the accurate knowledge through which challenging tasks at the workplace can be easily handled. In order to motivate the staffs, the management also propose to work on the below mentioned factors reduce the differences in the status of the staffsintroduce better payment method for the employeesequally treat the employees belonging to different cultural backgrounds (Greenwood, and De Cieri, 2007)Share accurate and reliable information with the employees of the company. Strategies to motivate Motivational factors for the staffs are quite an important factor. Thames Water ensures to develop and implement different strategies through which the employees of the company would be motivated to work towards the business development. For the management of the company, implementation of the HRM strategies is an asset. It is necessary to measure the performance of the employees in terms of the strategic implementation. The policies have been drafted as per the requirements of the company. In this process, the management ensures to introduce effective strategies through which the performance system within the company can be improved. For this the standards are upgraded and the corrective measures are introduced by the management to accomplish the set target. In order to achieve the set target, it is necessary to increase the involvement of the staffs within the company. Through this process, the management intends to share responsibilities with the staffs (Guest, 2001). SHRM HR competency model HR of the company performs the core task. The human resource department of the company work towards planning for the workforce for the organization. Other tasks that are carried out by the company includes Deciding the compensation benefitsHandling risk management for the staffsDeveloping strategies for maintaining employee relationshipsIntroducing better human resource development processImplementing technology for recording and maintaining details regarding the human force requirements (Krogh, Nonaka, and Aben, 2001) The model also emphasize on the analysis of the talent management system, and introducing the change management system for the global market. This has been done to create favourable and feasible work atmosphere for the employees working with the company from various departments. The knowledge required for execution of the tasks, and handling the issues associated with the human force are analysed. Through this method, an effective strategy is prepared and introduced by the company. The members, along with the managers are encouraged to apply the knowledge through which different situations at the workplace can be handled. Through such method, the company try to increase the level of competency and expertise. Both the factors are required for improving the performance of the company in the national and international market (Macklin, 2007). The behavioural competency level is associated with different factors like Introducing relationship management systemIntroducing consultation processAnalysing the relevance of the leadership factorIncluding ethical practices through which the business development can be introduced by the company (Margolis, Grant, and Molinsky, 2007) The developmental plan introduced by the management of the company is meant to benefit the staffs, the management, stakeholders, and others who are associated with the performance of the company. Through such competency level, the behaviour of the employees is analysed. With the help of the SHRM strategies, the management of the company could easily relate to the competency model. Through this process, it is possible for the companies to analyse the performance and introduce better steps for improving the productivity. Effective planning method helps the company to use the resources in the best possible manner. In this method an attempt is made to provide equal and fair opportunities to the members of the company. This would help in the business development and handling the issues faced by the staffs in the best possible manner (Michie, J., Sheehan, 2005). SHRM for global departments The prime objective of the company and the SHRM is to develop an effective and reliable international workforce in different markets. Through this process, the level of competitors services can be analysed. For this, it is essential to introduce effective technology and gather the required information about the task performance. The policy changes have been introduced after analysing the requirements of the company. Rules and regulations followed by the company in the international market is quiet different from the ones that is followed in the domestic market. Thus, the strategies prepared have to be feasible. Through effective human resource management system, it is possible for the companies to handle the challenges faced by the staffs working in various departments of the company (Min et al., 2007). With the help of the effective and motivated staffs, it is possible for the company to outperform the competitors and increase the profit earning margin. One of the important tasks performed by the HRM of the company is handling the issues associated with the cultural factors. For this, it is essential to develop effective coordination process through which the operational activities can be improved. Policies drafted for implementing the cross cultural factors within the company has to be handled in the right manner. This is done through dynamic method for process model for staffing (Nachum, 2003). Priorities of the HRM for the company The priority of the human resource management of the company is to introduce positive management practices through which the company would be able to deliver quality services on a timely manner. Through this process, an effort is made to reduce on the labour turnover, which increases the operational expenses. For this, the valuable services rendered by the employees of the company from various departments are analysed. The standards for effective human management system are introduced by the company. The rules are communicated with the members or staffs from various departments. Through this method, the HRM attempts to increase the productivity for the company (Nachum, and Keeble, 2003). Different departments working within the company are made accountable for the tasks that are being performed by the managers. Some of the tasks that are performed by the management include Strengthen the practices followed by the human resource management system of the companyEnsure that the workforce of the company has been fairly representedIntroduce effective learning and training process through which the business needs can be handled in an effective manner (Ngo et al., 2003).Implement strategies through which the workplace health and safety measures can be introduced. The human resource management system helps in developing clear roles and assigns the responsibilities through which the departments can be made accountable.in this process, the team efforts and works are motivated, as this will help in handling different tasks in the best possible manner. The staffs working with the company are treated equally, and this is done through minimising the cultural differences. With the help of the strategic planning process the longer term strategic plans are decided and implemented in the right manner. The cultural factors are based on the geographical factors. Planning is done after analysing the challenges involved in the process of implementing the rules for improving the workforce ( Ngo, 2008) Human resource management The cost for handling the human resources is always an additional expense for the company. Thus, the management attempt to avoid the expenses involved in the process. In this process, the mangers draft fair and equal policies through which the staffs are provide with equal opportunities to prosper within the company. The strategies prepared by the company include introducing different steps through which the management can introduce effective communication method with the staffs. In this method, the process for communication is improved and the knowledge shared between different members are analysed (Nachum, and Keeble, 2003). Knowledge based theory In this method, the managers of the company constantly work towards improving the knowledge of the staffs to perform different tasks. This also includes adopting and implementing innovative methods, through which the challenges can be overpowered. In this method, the management of the company adopt and introduce flexible methods for handling the tasks at the workplace. The staffs of the company are encouraged to maintain positive relations with the management. This forms an important factor of the strategic management for the company. In this method the system and the technology adopted by the company is analysed and corrective steps are introduced for increasing the production activities (Ngo et al., 2008). Some of the policies or strategies adopted by the company have been mentioned below Suitability In this process, the suitability of the strategies are analysed. This is done to analyse the changes required to be introduced within the company.Acceptability - the policies framed by the company has to acceptable by the members or the staffs of the company.Feasibility - the rules drafted by the company has to be feasible as this will help in introducing the changes that would help in the business development (Pinnington, 2003). Conclusion Strategic human resource development is one of the important factors. Through this method, the issues faced by the company in handling the human resource are analysed. This would help in the business development process. The challenges faced by the company in handling the human resource factors have to be analysed. This would help in analysing the issues and drafting the best policies through which the issues can be easily handled by the company. The policies drafted by the company have to be analysed and the corrective measures has to be implemented. References Boxall, P. and Purcell, J. 2008. 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