Is job satisfaction a singular uni-dimentional concept discuss Essay

Is job satisfaction a singular uni-dimentional concept discuss - Essay Example The level of employee job satisfaction within an organization is very important because it affects the performance of the organization (Ostroff, 1992). Job satisfaction has been positively correlated with job involvement, organizational commitment and job performance and negatively correlated with employee absenteeism, turnover and perceived stress (Spector, 1997). Therefore, an assessment of the nature of job satisfaction, and whether it is uni-dimensional or multi-dimensional, is helpful in evaluating which motivational methods are most likely to be effective in advancing organizational goals.One of the best known expectancy theories is the VIE Model put forward by Victor Vroom, according to which expectancy relates to the belief that a particular action will be followed by a desired outcome. (Karwowski, 2006; Furnham 1997). This underlying aspect conditions an employee’s motivation on the job. Porter and Lawler (1967) extended this expectancy concept to the relationship bet ween individual motivation, work performance and job satisfaction.On the basis of individual expectancy, or the belief that a particular action will be followed by a desired outcome, Porter and Lawler (1967) define job satisfaction as a uni dimensional construct. i.e, one is generally satisfied or dissatisfied with one’s job. Their formulation of task motivation within an organizational set up incorporates only intrinsic factors and they observe that the accomplishment of a job relates task can be rewarding for an individual irrespective of any external rewards that are provided.

Construction sector of India is an integral part of the economy

Construction sector of India is an integral part of the economy Introduction Construction sector of India is an integral part of the economy and is progressing on account of urbanization, industrialization, economic development and peoples soaring expectations for improved quality of living. Between 2004-05 and 2008-09 average real growth has been an impressive 12.28% year-on-year (y-o-y), which reflects the countrys immense need for continued investment in transport infrastructure, electricity generating capacity and housing, as well as the build-up of industrial capacity (BMI, 2010). Segmentation of Construction Industry The Indian Construction Industry can be divided into residential segment generating 85.8% of the total revenues and the non-residential building segment that generates 14.2% of the industrys value (Data Monitor, May 2009). (APPENDIX 1) Real Estate à ¢Ã¢â€š ¬Ã‚ ¢ Corporate à ¢Ã¢â€š ¬Ã‚ ¢ Industrial à ¢Ã¢â€š ¬Ã‚ ¢ Residential à ¢Ã¢â€š ¬Ã‚ ¢ Commercial (APPENDIX 2) Infrastructure à ¢Ã¢â€š ¬Ã‚ ¢ Roads à ¢Ã¢â€š ¬Ã‚ ¢ Urban infrastructure à ¢Ã¢â€š ¬Ã‚ ¢ Railways à ¢Ã¢â€š ¬Ã‚ ¢ Airport Porters Five Forces Threat of New Entrants Bargaining Power of Suppliers Bargaining Power of Customers Competitive Rivalry within the Industry Threat of Substitutes Bargaining Power of Suppliers Indian construction industry consists of two categories of suppliers, those providing construction materials and those who provide constructional services like electrical installation In India there are many small players in the construction material manufacturing industry, which weakens the supplier power (Data Monitor, May 2009). The subcontractors who provide constructional services are in a weak position due to the existence of many small operators. Overall, supplier power in this industry is moderate. Bargaining Power of Buyers Buyers in this industry are few and large such as government agencies or other major organizations, rather than individuals. The presence of low costs along with the strong price sensitivity of demand strengthens buyer power in the industry. Also the buyers are rarely capable of integrating backwards and take over the practicalities of the project themselves thereby proving that the buyer power in this industry is moderate (IICCI, 2008). Threat to New Entrants The governments recent liberalization of the rules governing foreign companies entering the Indian industry has boosted the entry of new players. Since a very small amount of capital is adequate to enter this industry and the contractors can reduce their costs by renting rather than buying equipment, the labor market is extremely elastic. Overall, the threat of new entrants to the industry is strong. Threat of Substitutes The threat of substitutes in this industry is very weak as it is unlikely that any alternative expenditure would be satisfactory for a buyer even if he has the requisite funds for a new construction project. Even if buyers have the option of renovating an existing structure rather than investing in a new construction, players in the construction and engineering industry remain likely to be involved. Competitive Rivalry within the Industry The atmosphere of a secure growth within the Indian construction industry eases rivalry by creating space for expansion. The low capital cost of market entry translates into low sunk costs reducing the exit barriers. Thus the rivalry is considered to be moderate (Data Monitor, May 2009). Key Players in Construction Industry Larsen Toubro Limited (LT) is one of the largest and most respected technology, engineering, construction and manufacturing companies of India. Jaiprakash Associates Jaiprakash Associates Limited principally provides civil engineering and construction services primarily in India. They earned a revenue of about 65000 US $ in the year 2010. (Business Wire, November 2006) Hindustan Construction Company HCC is one of the leading construction companies of India having built several landmark projects in Indias Hydro Power and water resources sector (Sandeep Sawant, Sept. 2007). Gammon India It is the only Indian Construction Company to have been accredited with ISO 9001 certification for all fields of Civil Engineering Works. Gammon employs expertise who has proved their innovative skills in India and abroad PESTLE Analysis of Construction Industry Source: http://www.whatmakesagoodleader.com/macro-environment-analysis.html Political Factors SEZ Act Special Economic Zone is the new target for real estate investors. As of date there are 105 approved SEZs in India (General Knowledge Today, Feb 2010). Laws governing these zones are more liberal in nature than the centralized laws and enhance a countrys technology growth, infrastructure and economic development. FDI Liberalisation The government of India has permitted a Foreign Direct Investment of 100 % for development of townships in India. India is now 2nd most preferred country for FDI after China. Opening of FDI in construction and allowing developers to raise capital in international markets has led to development of larger projects (Mohit Saraf, July 2009). Impact of REITs The introduction of Real Estate Mutual fund (REMF) and Real Estate Investment Trust (REIT) has boosted real estate investments from the small investors aspect. Economic Factors Gross Domestic Product (GDP) Growth India is witnessing tremendous growth and expansion of construction activities and construction is the largest component of GDP. It has been growing at a rate over 10 % in the past few years when GDP was around 8% (Farook Azam, 2010). (APPENDIX 3) Source: IHS Global Insight Change in Demand Changes in the demand due to factors like changes in disposable income of perspective buyers and inflation may affect the construction industry. With the easy availability of housing loans and tax redemption on loans the demand for houses is increasing and thus construction is gaining weight. Fluctuations in Prices of Inputs Many builders tend to stop work when the prices of inputs like cement, iron etc go up and wait till the prices come down. This leads to unnecessary delay in the work and the cost of wasting time would actually be more than the increase in price (Arghadeep Laskar and C. V. R. Murty, 2003). Social Factors Goodwill of the Company Brand name of a builder or the company plays an important role in convincing the buyer to buy the house and be sure of the quality of construction work done. A low credibility or image can lead to poor financial performance. Green Buildings A green building is one which uses less water, optimises energy efficiency, conserves natural resources, generates less waste and provides healthier spaces for occupants, as compared to conventional building (India Today, Vol. 34, Issues 1-8). The estimated market potential for green building was about $ 400 million in 2010 and is increasing continuously. Technological Factors Upgrading of Technology Use of low grade technology in the construction sector leads to low value addition and low productivity apart from sub standard quality of construction and time over runs in projects. Due to lack of technology, construction can suffer in terms of quality and design. Source: managingthedragon.com Ready Mix Concrete The business of ready mix concrete in India is in its infancy. Indian ready mix concrete business uses only 2% of the total cement production. The increasing use of ready mix saves time and allows better quality too. Legal Factors The National Housing Policy NHP (1998) was formulated to address the issue of sustainable development of infrastructure. The Government helps to provide fiscal concession to carry out legal and regulatory reforms and create and enabling environment for the construction industry (P.R. Swarup, Director General, Construction Industry Development Council, India). Environmental Factors Uncertain Calamities Uncertain environmental hazards like earthquakes, floods etc. have a disastrous impact on the construction industry and can delay construction as well. This has been witnessed during the construction of the Metro line in the capital of India, New Delhi where one of the railway lines being constructed collapsed due to heavy rainfall and delayed the total completion time of metro. Structural Drivers of Change Globalization After the policy of globalization being introduced in 1990s, the private companies started being more aware about construction products and there was inflow of construction based knowledge and technology from other countries to ours changing thinking towards the whole construction scenario. Import and export procedures, customs and excise laws and ease in operations of foreign accounts minimized controls on industry and rapid growth took place. Due to simplified single window clearance import export procedures became easier thereby allowing Indian construction Industry to compete in overseas market (Accommodation Times, 2009). Technological Developments A key driver of transformation for the Indian construction industry is technological change. Global telephony, satellite communications and video links are now widely available (Shakantu, 2000). Information and communication technology (ICT) is significantly influencing technological change (CIRIA, DTER, 1999). Simulations of entire construction processes and systems can be developed to determine the optimal approach to achieving desired performance (Shakantu, 2000; Fisher, 1993; Coyle, 1996). Changes in Government Policy The government policies helped in boosting the real estate sector by substantial cutting interest rates and facilitating greater ease in credit. Recent excise duty cuts on cement and steel also reduced the construction costs. These recent government initiatives increased liquidity in the market and brought down the interest rates to a more realistic level. Life Cycle of Construction Industry The Indian construction industry is in its growth stage growing at over 20% over the past 5 years. It has witnessed a revolution, driven by the booming economy, favorable demographics and liberalized foreign direct investment (FDI) regime (World Market Intelligence, March 2010). We can say that the sector has been performing quite well over the past decade. Despite the depressing global scenario, the Indian market was protected from the effects, as the economy as was more robust than its counterparts. The pace of private construction slowed down but remained positive. With the growing capital inflow within India and from abroad the demand for infrastructure is likely to increase. The Indian government has been a major investor in this sector in order to stimulate the development of construction industry to the requisite level required to achieve the next growth target. (K.V.S.S., Narayana Rao, 2009). Although steady progress through the construction industry is not inevitable, the life cycle concept does none the less remind construction companies that conditions will change over time. ( Johnson, Scholes Whittington, 2008) (APPENDIX 4) In 2013, the Indian construction and engineering industry is forecast to have a value of $55.3 billion, an increase of 44% since 2008. Future Scenarios for Construction Industry Scenario 1 New Equipment, Technology and Materials Involvement of Indian consultants in international projects has led to blend of new materials, equipment and technologies in the construction practices of India. Very soon the growing demand for such advanced equipment will force the builders to manufacture these as well. The government has also taken some remarkable initiatives to ensure that its basic infrastructural structure is more efficient and world-class. Therefore billions were spent on constructing bridges, roads, railway transportation, power infrastructure etc. Construction equipments especially earth moving equipment sector has benefited the most from these developments and is poised to grow at double digit CAGR by FY 2014 (Free Press Release, 2010). It is expected that during 2007-2015, the potential investment for new equipments and materials will be around US$ 750 Billion. Scenario 2 Employment Opportunities India with its high potential untapped market attributes has become a favourite destination for global construction equipments companies. There will be demand for over 24.3 million new dwellings for self-living in urban India alone by 2015 (Housing Skyline of India 2007-08) Considering governments projects lined up for the Eleventh Plan period, the demand for construction is expected to grow by at least 8-9%, and 2.5 million employment opportunities per annum are expected to be generated ( BMI, 2011).Thus those who are looking for opportunities in this sector would be rewarded with accelerated learning and fast progress. Construction Industry has created a need for the full spectrum of employees varying from professionals like civil and mechanical engineers and architects to daily basis wage construction workers and industrial workers such as steel and cement manufacturers to highway toll booth operators. Thus it is advisable to join a leading Indian Construction Company, or a multi-national present in India even from a beginners level as there is large scope for training and rapid upward movement through the ranks for talented individuals. Scenario 3 Changing Indian Economy The changing economy is placing increasing pressure on Indias physical infrastructure, not only from population growth and developing economic activities, but also structural changes in the economy. Indias economy now clearly reflects a steady decline of primary sectors, such as agriculture, forestry, and fishing, giving more importance to the non primary sectors such as service and manufacturing industry. But it is predicted that growth in construction spending in the longer term is likely to be enormous, driven by a rising population and a growing middle class. Since 100% foreign direct investment (FDI) is now allowed in construction, it now allows significant inflows of capital to meet growing demand from the increasing middle class. Indias population growth rates remain well above replacement level and the number of people living in urban areas is likely to grow significantly (BMI, 2011). ( APPENDIX 5) Conclusion Though all these scenarios are linked together and their inter relationships can produce long and complex results, growing population is the key driver of success of the construction industry. (Johnson , Scholes Whittington, 2008) According to me the second scenario is the most influencing scenario as it is directly linked to Indias growing population which is an unstable factor growing at a fast rate and directly linked with the success of the construction industry. Bibliography India Netzone, (2008), Nature of Construction Industry, Available at: http://construction.indianetzone.com/1/nature_construction.htm. [Accessed 15 March 11] Indo Italian Chamber of Commerce Industry (2008), Overview of the Construction Industry in India , Opportunities, Available at: http://www.centroesteroveneto.com/pdf/Osservatorio%20Mercati/India/Ricerche%20di%20Mercato/2009/Construction%20Sector.pdf, [Accessed 15 March 11] Info Shine (2008),  Construction Real Estate Available at:  http://info.shine.com/Industry-Information/Construction-and-Real-Estate/855.aspx, [Accessed 15 March 11] Research Markets (2006), Indian Construction Industry: An Analysis., Description, Available at: http://www.researchandmarkets.com/reportinfo.asp?report_id =335655t =dcat _id=,[Accessed 15 March 11] Credit Analysis Research, (2010), Indian Construction Industry, Available at: http://www.careratings.com/content/ResourceCenter/reports/Synopsis_for_Construction_Industry.pdf, [Accessed 15 March 11]. Farook Azam (2010), Institute of Industrial Engineers, The Construction Industry in India , Available at http://www.iienet.org/Details.aspx?id=20432 , [Accessed 15 March 11]. CBS Interactive Business Network (2006), The Indian Construction Industry, Available at: http://findarticles.com/p/articles/mi_m0EIN/is_2006_Nov_20/ai_n16851629/?tag= content; col1, [Accessed 15 March 11] Law is Greek, (2010), An Overview: Special Economic Zones (SEZs) in India, Available at: http://www.lawisgreek.com/an-overview-special-economic-zones-sez-in-india/, [Accessed 15 March 11] Johnson, Scholes Whittington (2008), Industry Life Cycle, Exploring Corporate Strategy, 8th Edition, Pg 68-69 [Accessed 16 March 11] Accommodation Times, (2009),  Globalization of Construction Industry Available at: http://www.accommodationtimes.com/property-rates/globalisation-of-construction-industry/, [Accessed 16 March 11]. World Market Intelligence, (2010) , Future of Construction In India, Available at: http://www.docstoc.com/docs/25943727/The-Future-of-Construction-in-India, [Accessed 16 March 11] Moht Saraf (2009), Real Estate, Indias Real Estate Sector: An Overvie, Available at: http://www.whoswholegal.com/news/features/article/18426/indias-real-estate-sector-overview/ [Accessed 16 March 11] K.V.S.S., Narayana Rao, (2009) Industry Analysis Valuation, Infrastructure INDIA Version 14, Available from: http://knol.google.com/k/narayana-rao-k-v-s-s/industry-analysis-and-valuation/2utb2lsm2k7a/950, [Accessed 16 March 11] Hindustan Construction Company India (2007), HCC: About HCC, Available at: http://www.hccindia.com/hcc_admin/data_content/pdf_files/HCC_bags_Rs._693_.61_crore_Euro_1_.457_crore_order_from_Delh_.pdf, [Accessed 16 March 11] Arghadeep Laskar and C. V. R. Murty (2005), Challenges before Construction Industry in India, New Materials, Equipments Technologies, Available at: http://www.iitk.ac.in/nicee/RP/2004_Challenges_Construction_Industry_Proceedings.pdf, [Accessed 16 March 11] Free Press Release (2010), Indian Earth Moving Equipments Industry to Boom in Near Future Available at: http://www.free-press-release.com/news-indian-earth-moving-equipments-industry-to-boom-in-near-future-1287567300.html, [Accessed 16 March 11] Business Monitor International (2011), Industry Forecast Scenario, Available at: http://www.businessmonitor.com.libproxy.nlb.gov.sg/cgibin/request.pl?SessionID=393511974808887view=articleviewerarticle=446198service=22iso=INmetaid=190, [Accessed 16 March 11] APPENDIX Appendix 1 Source: IHS Global Insight Appendix 2 Source: IHS Global Insight Appendix 3 Source: IHS Global Insight Appendix 4 Indian Construction Industry Value Forecast Source: Data Monitor

Japan :: essays research papers

  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Japan Slide Program Report Japan is a very small country, approximately 144,000 square miles (smaller than California), and is inhabited by a considerably large population of over 120 million people (half the United States!) This makes Japan the seventh most populous nation in the world. Japan is located at the far west side of the north pacific ocean, and consists of more than 4,000 islands! However, the Japanese people live on less than 10 percent of this land mass due to rough, mountainous, volcanic terrain, which make up a substantial 70 percent. One of the most famous and symbolic volcano’s is Mt. Fuji. Among these many islands, only four are commonly known, including Hakkaido (northern-most, considered to be Japan’s â€Å"frontier†), Shikoku (the smallest of the four), Kyushu (most southern), and Honshu ( the largest and most populated.) Japan’s capital city is Tokyo, which is also one of the world’s largest cities. It consists of 12 million people! Tokyo became the imperial capital in 1868, with the downfall of the Tokugawa Shogunate and the end of the feudal period. And of course, it is home to the Imperial palace. The chrysanthemum flower is the symbol of the imperial family. Japan is an extremely modern civilization. After World War 2, much of Japan was destroyed, so in the rebuilding process of the nation, they were able to impose the very latest in technology, making them an â€Å"economic superpower† today. Their Gross National Product is so successful in fact, that it has nearly surpassed ours here in the United States! And is ranked second in the world. One of my favorite things in their very technologically-advanced society are the â€Å"bullet trains†, which are able to carry many people at speeds of up to 130 mph! They are safe, reliable, immaculately clean, and on time to the very second...How efficient! Another is their very modern system of parking in the thriving city of Sapporo, in which cars are lifted and rearranged in order to take full advantage of every last inch of precious space in crowded Japan. Despite this modernization, Japan is also very determined to maintain it’s highly distinctive (and lovely) tradition. In an attempt to keep the country culturally isolated from the surrounding world, like it is physically, the ancient Japanese invented their very own unique culture including beautiful (and very expensive) kimono’s for the women, and sumo- wrestling for the men, just to name a few.

The Case against Tipping

There are many good reasons on why you should tip a waiter. Anyone who has had much experience in a restaurant franchise would know that most of your wages are tips. The places do this in order to promote better service and to save money by not having to pay the employee minimum wages. This can be beneficial to the customer leaving a good tip can give a customer better results with the service. They may get a kinder person, faster service, and hotter and fresher food or drinks. They also can leave with the knowledge that they made the person feel better about their job, and the fact that they may make their days wages. On the bad side of tipping The people usually don’t even make minimum wage. They have to rely on the customer in order to make a pay check. This may make the customer fell like their being scammed out of their money, because the person serving them isn’t working for them so why should they have to pay the persons wages. Another con is the tip your giving may be as much as the stuff you bought or possibly even more. Some places coffee is just a dollar and with a dollar tip that would set the price as the same as what the person bought. Another problem is that they may have a cup set out in order to make the customer feel bad about not tipping. What if you don’t have enough for a tip at the time? You feel you have to because it’s set right there in front of you playing a mental game. OR what if they give you bad service why should you tip for that? What reasons do you find most compelling? The reasons I find most compelling are the fact that restaurants in particular push their waiters/waitresses into the customer’s hands. I am one that believes that the people should get paid regular wages and have their tips be a bonus for good work. Not have the customers foot the wages for them so they can be greedy and put more money in their pockets. Another reason that I find compelling on the other side is the fact that sense the customer does it helps them get better service. I do get understand the sense of gratification of the person that tips and receives it does make them feel better about their jobs. But at the same time people shouldn’t feel obligated to tip for bad service. Which concerns have particular merit? I think that the tip jar situation does have merit. If a person set a jar out for tips it is a trap that messes with the customers mind. I would personally feel bad if I looked at the tip jar and didn’t have enough money to pay or if I got bad service I’d feel like I was being forced to pay for that bad service. Also The fact that the employees have to make their wages off of the tips poses a lot of merit. Essentially on one hand I’m paying for a worker that isn’t employed by me. On the other hand that worker has to make their wages. Can you balance the interests of both sides of the issue?

Leadership on The Line Essay

Recognizing the evolving definition and requirements of leadership, Heifetz Ronald and Linsky (2002) highlight the need for leaders to consider the skills and perspective to ensure their effectiveness. Leadership, as illustrated in Leadership on The Line–Staying alive through the Dangers of Leading? requires not only the accomplishment of goals but also the ability to respond effectively to the human realities of working in an organization. The books three parts provide steps in recognizing leadership challenges, developing responses and interventions and what competencies leaders must develop professionally and personally. Marginalization, diversion, attack and seduction are identified as the main sources of resistance to leaders. At the same time, the authors also pay particular attention to the dangers within the leadership characterized as hunger for power and control and the difficulties in self-monitoring. The authors want to communicate to readers that there is a need for leaders to purse the development of their leadership skills. Despite the use of figurative characterizations in the book, the authors are practical and pragmatic in their discussion. The examples given, particularly in the Response section of the book is based on real life examples. Examples which the readers can easily relate directly to or parallel to their own experience. The authors point out that the sources of resistance are natural to any leadership scenario and therefore can not be fully stopped and in fact, can also be safeguard against ineffective leadership However, they have to control through resistance-response skills which in turn allows leaders to function as they are needed. Critique There is no doubt that leadership is a difficult challenge. Thus, there has been no limitation of the number of literature that aim to develop strategies and competencies for it. Unlike most literature in its genre that focuses on the development of attributes for effective leadership to become a leader, Ronald and Linsky discuss the development of leadership when one already holds office. The authors aim to provide a literature or guide to leaders who are already experiencing challenges in their roles due to a change in working scenarios or relationships. From the perspective of Heifetz and Linsky, what has become more critical for leaders to day has been the ability to go beyond their functions and respond to other people and at the same time eliciting a response from them. Thus, beyond achieving goals set members, of the organization must understand why these goals are being pursued, that â€Å"people need to know that the stakes are worth it† (p. 94). At the same time, Heifetz and Linsky state that before any action can be take to address threats to effective leadership, leaders must be able to understand the â€Å"heart† of the issues before recognizing the actions, indications or â€Å"faces† determining the threats. The main message of the book is the need for leaders not just to be competent, sensitive or responsive. They also must understand the their motivations for being so, the perspectives that can be taken, the methods that can be most effective and the implications of any perspective, opinion or action to be taken. Empathizing with the natural isolation of being the top man of an organization: there should be an acceptance that there will be member of the organization who would â€Å"undermine the clarity of his vision, delay his progress, and divert him from his core purposes† (p. 76). Thus, leaders while being advocated to be sensitive to their organization have to balance this with their resolve to accomplish organization goals. Leaders should be then prepared to be questioned, doubted and even maligned for their decisions. Heifetz and Linsky reflect that leaders often view these are criticisms to their professional and personal capacity but they should also understand that these reactions, even when they are deliberate and malicious, occur as part of the dynamics leading and organizations. Reading the book, one of the most unique ideas that Heifetz and Linsky present, absent from most of the leadership literature that I have read, is the concept of pain and leadership. The authors’ views are ones that one can easily agree and even commiserate to. The recognition of the fact that effective leadership has its pains and not just costs, both to the leader and the organization, is a perspective that makes the work effective and truly emphatic to the challenges of leadership. The view that leadership challenges, or resistance, is an ever present element in any organization does not discourage readers but actually motivates them to deal with them rather than trying to circumvent them. However, it should also be recognized that some of the examples or ideas presented may require significant experience to be understood comprehensively. This is a particular challenge in the last section of the book where the authors delineate the introspective requirements for leaders. Nonetheless, the book provides critical insights to the realities of leadership and not just what it should be. More importantly, it is effective in motivating readers view leadership as continuing process of development and that there is a need to actively pursue effectiveness. Reference Heifetz, Ronald A. and Linsky, Marty (2002). Leadership on The Line–Staying alive through the Dangers of Leading, 1st Edition. Boston: Harvard Business School Press.