Career Opportunities in International Business

CAREER OPPORTUNITIES IN INVESTMENT MANAGEMENT

By

— Dr. Sanjay Tiwari

One of the most important instruments of investment through stock market is the mutual funds. The companies or organisations which facilitate this type of investment are known as Asset Management Companies (AMCs). These AMCs are responsible for the investment made by investors and thereby MF agents are the key channels for apprising the large number of investors of options for investment. MF’s agents, distributors, bank employees handling Mutual Fund marketing have to be informed fund advisors. The following is the detail of career positions available in MF segment:
     Fund Managers are the people or experts who are responsible for managing the Asset Under Management (AUM) of any AMC which is contributed by the heavy amount of investment in equity and debt market. They not only manage the investment but also provide advice to their clients who may be institutional or individual. They have the responsibility to track the market returns and give good returns to their clients who have shown confidence in their expertise. Simultaneously they keep on changing their capital structure i.e. debt-equity mix for balanced investment decisions. The criteria for becoming fund manager depends upon the professional degree like MBA in finance and more important the inclination towards Mutual Fund risk-return analysis.
     Distributors are appointed by the AMCs who educate the investor sufficiently. Individuals form the largest segment in the distribution category. They perform the role of marketing distribution channels and facilitate individuals to purchase some funds.
     Lead Managers are the functionaries who co-ordinate with intermediaries, campaign for the scheme and approach potential investors. Expert professionals having exposure to risk-return conceptual knowledge and practical skills are employed by these organisations.
     Dealers execute trades and act as intermediaries between the investors and the equity/debt markets. The dealers have to comply with all the formalities of sale and purchase. A person with a financial background, thorough understanding of stock market operations, communication skills and acumen can be a dealer.
 Operations related career in stock market      There are some other positions available in stock market and its operations. These may be categorised into the fund accounting group, the custody group, the financial control group and the MIS & audit group.
            The fund accounting group calculates Net Asset Value of funds on a daily basis and maintains books. The custody group make a liaison with custodians appointed by the AMC. MFs buy and sell huge volumes of securities. The custodians appointed ensure the safe custody of these funds and ready availability. Therefore, the people are required to run these day to day operational activities. The skills, inclination and professional qualifications are desired.
     Registrar and transfer agents process the applications and dispatch Unit certificates to unit holders within the Security & Exchange Board of India specified time-frames.
Career with Regulatory Bodies, Rating Agencies and Depositories
            To regulate the capital market SEBI (Securities and Exchange Board of India) was constituted in 1992. As a regulator of stock market, mutual funds and derivative, this body has expanded its business and operation which require professionals from varied backgrounds; finance, accounting, auditing, investment, credit rating, consultancy, mutual funds, law, derivatives products etc. IRDA as a regulator of insurance business in India requires some investment experts for their valuable advises based on sound analysis of investment of their insurance products. With the opening up of the insurance sector, private and foreign players have emerged on Indian insurance scene which also provides ample opportunities for professionals associated with investment management profession.
     Similarly, to advise the individual investors on their investment related to equity and debt based on respective ratings of the financial instruments, various credit rating agencies have been formed i.e. CRISIL, CARE, ICRA which are always in need of professionals in investment analysis such as; credit analysis, rating analysis, industry analysis, portfolio analysis, economic analysis etc. CRISIL has started courses in financial planning for professionals.
Career in Depositories
            Depositories are the organisations responsible for recording, maintaining, authenticating and facilitating paperless trading of financial securities. These also act as clearing houses and provide services related to DMAT account and transactions clearance. Some of the depositories working in India are; National Securities Depositories Ltd. (NSDL), Central Depositories Services Ltd. (CDSL) and Stock Holding Corporation of India (SHCIL). For running the business operations of these depositories CA/ICWAI/CS/CFA/MBA with some experience in stock exchanges, custodians, brokerage firms, banks and financial services companies from reputed institutes/universities are required.
Research and Consultancy
            Investment firms and institutions differ in the number of professionals they employ in the research and consultancy departments. Equity research can be a one man outfit or a department with a team of professionals drawn from diverse disciplines. Mutual Funds, FIIs, institutional investors, broking houses hire research specialists. Print and electronic media also offer opportunities for professionals’ expert advice on stock investment and volatility.
     The following academic and personal prerequisites are essential to seek a career in investment management:
.    Degree/diploma/course in investment management/stock market operations
.    Knowledge of finance, business, mathematics, accounting, economics, computers
.    Analytical ability and communication skills of expected standard
.    Acumen, interest and inclination towards investment market
.    Knowledge of financial institutions, tax, financial planning, legal aspects of capital market
.    Creative ability to take decisions based on sound analysis
.    Zeal to learn latest development with persuasive traits and patience.
     Now let’s have a look at some intuitions offering programmes/courses in investment management:
Name of the Programme/Course : MBA/PGDM/PGDBA with finance specialisation
Institutions/Universities : IIMs, Universities (Central and State)/Institutions
Duration : Two Years
Eligibility : Graduation with 50% with valid score in CAT/MAT/Test conducted by  universities
Address : Website  of related institutions
Name of the Programme/Course : Courses and NCFM modules on stock market operations, surveillance, dealers’, derivatives, currency derivatives, investment  analysis and portfolio management,  depository operations etc.
Institutions/Universities : National Stock Exchange of India, Mumbai
Duration : Depending upon the course/module
Eligibility : Depending upon the course/module
Address : nse- india.org
Name of the Programme/Course : Post-graduate membership course in capital market and financial  services.   
Institutions/Universities : Institute of Company Secretaries of India, New Delhi
Duration :  —
Eligibility :  —
Address : Institute of Company Secretaries of India, New Delhi.
Now let us understand the terminology used in this article:
Investment
     It is the amount invested in some financial asset i.e. equity and debt to get some return at a given level of risk.
Investment Management
     It is the study of analysing risk and return on investment using analytical techniques.
Credit Rating
     The relative performance given in terms of grade to the financial asset depending upon the risk. Credit rating agencies determine a set of criteria for rating the instruments on their safety and advise the investors accordingly.
Risk
     The probability of getting return from investment in financial asset.
Industry Analysis
     Evaluation of the performance of industry based on certain parameters.
Portfolio Management
     Analysing the risk-return profile of a group of securities. It is done to minimize the risk and neutralize its impact on other securities.
ETF
     It stands for Exchange Traded Funds. A popular financial instrument whose trading is done through stock exchanges. Gold ETFs are instruments whose value depends upon the gold prices and these can be easily traded through exchanges.
 (Concluded)
(The author is Associate Professor (Management), Central University of Haryana, Mahendergargh
e-mail: stiwarigju@rediffmail.com)

ref - http://www.employmentnews.gov.in/CAREER-OPPORTUNITIES-IN-INVESTMENT2.asp

Career in Soft Skills Training

By

Anurag Kumar Of late, soft skills have emerged as a tool with enough power to make or break your career. How often do we encounter technically talented people who excel in their jobs, but whose career stalls beyond a certain point because they lack the social communication and relationship building skills to manage, work with and lead other people?  Soft skills is an umbrella term which includes communicative skills, listening skills, team skills, Leadership quality, creativity and logic, problem solving skills, diplomacy and change readiness, among others. Soft skills are generally gifted and cannot be learnt from a book. Roots of soft skills can be traced back to one’s ‘Sanskaras’ (Family Values). Still, formal training can, of course, give you a fresh perspective, and teach you tips and techniques if you need to improve specific skills, but if you really want to ingrain soft skills into your personality, you have to become a keen observer, an eager learner and an assiduous workman religiously putting to practice all that you have learnt. Here are a few soft skills which may help you improve your career prospects and enhance your personality as a whole. Effective Communication Skills Effective communication skills include oral Skills for public speaking, presentations, negotiating, conflict resolutions, knowledge-sharing; Writing Skills for preparing reports, proposals, instruction manuals, writing memos, notices, official correspondence etc. It also includes a combination of verbal and non-verbal skills. Since our official medium of communication is English, certain amount of proficiency is needed in it. As English for us is a second language and not our mother tongue, so a constant practice at home/hostel, followed by language-lab sessions, is need of the hour. Those institutes that want their students to get placed in MNCs and reputed companies, must give this a deep and urgent thought. Quality job depends as much as on knowledge of the respective subject as on good communication skills. Interpersonal and Teamwork Skills Interpersonal and teamwork skills contribute to higher productivity and better environment as people work together to reach common goals. Some individuals are born leader or intuitively adopt the traits required in team work. However, in general, these skills need to be taught or can be learnt through practice and awareness. This skill has four dimensions namely—Cooperation, Communication, Work Ethic and Leadership. Cooperation requires demonstrating the ability to compromise on their views, treating team members with respect, and working within a consensus of the team. Communication here requires a dynamic interaction among team members and inviting and providing feedback and resolving conflict. Work ethics includes accepting responsibility for assigned work, completing any assigned tasks and doing so on-time, and offering assistance to other team members when required. It is certainly desirable for each team member to demonstrate leadership. This includes helping to provide structure by initiating action, clarifying concepts and problems, and summarizing activities and results. Personal Skills Many people wonder why they do not have the success they want in business! Most of the time, the reason will be right under their nose; they are just unable to see it. The first thing that someone should ask is, "Am I successful in my personal life and relationships?” Personal skills are those skills which make you not only acceptable and respectable in society and at the work place but also help you in getting a good job and better career growth. They include ability to make decision, Alertness, Assertiveness, Attention to details, calmness, Commitment, Cooperation, Emotional stability, Empathy, Flexibility, Generosity, Tolerance, self-confidence, self-control, self-reliance, self-respect, Honesty, and sense of humor among others. Problem-Solving and Other Cognitive Skills In your day to day life, you often come across such situations where you are unable to make right decisions. You are more likely to get into such conditions when you are working in an organization. To deal with such stresses, you need to develop some skills which may help you in making decisions,  developing creative and innovative solutions, developing practical solutions, showing independence and initiative in identifying problems and solving them,  applying a range of strategies to problem-solving, applying problem-solving strategies across a range of areas. Adaptability and Work Ethics It is a well-known fact that contemporary organizations evolve and change rapidly, given the fast pace of technological change over the last hundred years of industrial era.  Consequently, an employee in a contemporary organization must not only be willing to work hard but also possess the flexibility and ability to respond to rapid change. An employer requires a whole set of skills to develop adoptability like communicating across cultures, getting along with others in a multi-cultural work environment, respect for others’ faith and belief systems, avoiding racial/cultural discrimination at the workplace. Work ethic is a set of values based on the moral virtues of hard work and diligence. It is also a belief in moral benefit of work and its ability to enhance character of the employer or any individual. A work ethic may include being reliable, having initiative or maintaining social skills. Apart from that a sense of responsibility, honesty and commitment may also be included in it. In order to posses these above discussed skills you need to be self-aware i.e. you need to cultivate positivism in your thought and approach. You should also know how to live consciously and try to put your words into action. Reading is yet another way to improve your skills and can help you develop a better perspective of the world and the things around you. You should also open yourself to new ideas and experiences and be willing to adapt to changes if it makes the things go easier. The last but not the least you should always remember is that you need to practice and practice these skills with dedication. Practice improves your performance, helps you discover and overcome shortcomings and mistakes and gives you confidence. Career Prospects Soft Skill Trainer Most of the organizations are now providing their employees the training of soft skills in order to improve their positive communication, interpersonal and team skills, problem solving, adoptability, and work ethics. This in turn has a very positive impact on their business and personal lives on one hand and increases the productivity of the organization on the other. So after completing a course in soft skills, one can get a job of a soft skill trainer in any of private or public organization and earn a handsome salary. Personality Development Of late, the focus has shifted from a natural man to a groomed one. Organizations, particularly corporate ones, are seeking individuals who are smart and well groomed. They have the kind of communication skills that they can outsmart any one. For which they provide training to their employees once they are recruited. But they prefer those who are already better. Since most of the people are born with the talents but they need policing and grooming, a number of private institutes are set in market that are doing this job for them. These institutes are earning a lot of money in turn, thus, providing an attractive job option for a soft skill trainer. Teacher Teaching has recently been a good option for a soft skill trainer as Technical Communication is a compulsory subject in all Engineering and Management Institutes. There the students are trained and prepared for their placements and communication skills along with other personal skills are required to perform better in interview and group discussion. Since the growth of an institute is totally dependent on the job placement of its students, the role of a soft skill trainer becomes very crucial. Education Though there are a number of institutes that are offering courses in soft skills, here are a few institutes who organize short term course for soft skill training: Indian Institute of Technology Roorkee Indian Institute of Technology Kanpur Indian Institute of Technology Kharagpur National Institute of Technical Teachers’ Training Chandigarh National Institute of Technical Teachers’ Training Kolkata National Institute of Technical Teachers’ Training Bhopal Placement After completing the course, one can get a job in any public or private organization, educational institute, or can set his own training centers. Initially, the trainer can earn somewhere between Rs. 10,000 to Rs. 20,000 per month which increases over the years. About the Author  Anurag Kumar is presently working on his Ph. D Thesis in the Department of Humanities and Social Sciences, Indian Institute of Technology Roorkee. Address for Correspondence:                 Anurag Kumar              C/o Dr. Nagendra Kumar              60/1 Ravindra Lok Colony              IIT Roorkee- 247667              Email Id: anuragkumar.lko@gmail.com; anu_pandeylu@yahoo.co.in ref - http://www.employmentnews.gov.in/Career_in_Soft_Skills_Training.asp

Bearings

Bearings
• The interface between moving parts that should minimize friction and wear.

Plain Bearings
• Generally used in low speed machines.
• The main bearing action comes from the lubricant.

Solid Bearings
• This looks like a section of tube that is placed in a hole, and the shaft rotates inside.
• Typical materials are,
- bronze
- sintered bronze (with graphite)
- cast iron
• Made for slowly rotating equipment
• lubrication is required, and problems will arise when not properly maintained.
• Available in standard sizes.

Split Bearings

• Used on large machines at low speeds.
• The two halves of the bearings are adjusted in position using shims.
• Typical materials include,
- bronze
- bronze with babbitt
- babbitt lined metal
• Oil grooves are used for lubrication.



Thrust Bearings
• Opposses axial thrusts of rotating shafts.
• Uses shoes of a variety of shapes,
- flat
- kidney shaped
• An oil wedge approach is used to support the bearing.

Rolling Bearings
• Advantages,
- low friction at all times
- compact
- high accuracy
- low wear
- come in standard sizes

Ball Bearings
• Low friction, high speeds, low loads.
• ball bearings are packed between two rotating rings.
• The grooves that contain the ball bearings is given different shapes for different loading conditions.

Roller Bearings
• For heavy loads at medium or high speeds.
• The various roller bearings are designed for loads (radial and axial) and packing space.

Thrust Bearings
• A set of rollers or balls are held between two washers.
• Designed mainly for lower speed axial loads and occasionally light radial loads.

GENERAL INTRODUCTION TO SHOT BLASTING

Shot Blasting is a surface treatment process using high velocity steel abrasive. Shot blasting is method through
which it is possible to obtain excellent cleaning and surface preparation for secondary finishing operations.
Shot blasting is commonly used for:
• The cleaning of iron, steel, non-cast parts, forgings, etc.
• Mechanical cleaning of sheets, rods, coils, wire, etc.
• Shot peening to alter mechanical properties (increasing resistance to fatigue for springs, gears, etc.)
• Preparing surfaces to be painted, coated, etc.
In general shot blasting concentrates abrasive particles at high speed (65-110 m/second) in a controlled manner
at the material thereby removing surface contaminates due to the abrasive impact.
Initially in the 1930’s the shotblasting process used compressed air for propelling the steel shot. This method
remains in use today for cleaning metal frames and weldments.
Shot blast production lines, both manual and automated systems, became possible with the introduction of
centrifugal wheel blast machines. The system of shot blasting by centrifugal wheel is more productive than by
compressed air and achieves a better more uniform surface finish.
The criteria used for selecting the type of shot blasting system depends on the size and shape of the parts, the
condition of the surface to be cleaned, final surface finish specification and overall process required.
Shot blasting systems are comprised of 6 basic subsystems:
1. Abrasive delivery method:
a. By Compressed Air.
b. By Centrifugal turbines.
2. Abrasive recovery and cleaning.
3. Dust collection.
4. Blast Cabinet.
5. Part movement and support system.
6. Controls and instrumentation.
Abrasive delivery method
There are two ways of accelerating the steel shot:
a) By compressed air:
This system is suitable for lower production applications where
maximum flexibility is needed. These systems are very flexible in that
the shot can be delivered horizontally through a rubber hose and nozzle
assembly. This enables uses in finishing operations of steel frames and
weldments thereby replacing hand tools. Because of this, an air blasting
machine for a production line is expensive compared to the centrifugal
wheel blasting machine. For example to deliver shot at a rate of 1100
kg per minute a 1650 Hp compressor and 33 workers are needed using
10 mm diameter nozzles delivering 6.5 kg/cm2. On the other hand the
same task using centrifugal wheel turbines only requires a total of 100
Hp distributed to between one or a multitude of turbines housed in the
same machine. Only one or two operators are needed for such a
shotblasting machine.
b) By centrifugal turbine:
Centrifugal wheel blasting is the more common blast cleaning technique
as well as the most economical and environmentally friendly method. The
turbine delivers abrasive shot by centrifugal force in a specific and
controlled direction, speed and quantity. Function of the turbine is
similar to that of a fan or centrifugal pump. Shot blasting machines may
use one or a multitude of turbines positioned in such a way that the
abrasive blast pattern covers the entire surface of the material to be shot
cleaned. The shape and size of the parts determine the number of turbines
used in a machine. Power of the turbine motor is based on degree of
cleaning needed and throughout speed of the material.
Abrasive Recovery and cleaning system
Recirculation and cleaning the abrasive shot is required to maintain a consistent cleaning operation. In
conventional shot blasting equipment after the shot hits the part the abrasive falls into the collection hopper
under the machine. The shot is then carried by gravity or screw conveyor to a bucket elevator. The elevator
carries the shot, removed oxides and other contaminates to an air wash separator located in the upper portion of
the machine. A combination of baffles, strainers and plates separate these contaminates which are ineffective
during the shot blast operation. The cleaned abrasive is contained in an upper hopper (feeding-box) and is
subsequently fed into the shot turbine by gravity. The recirculating and cleaning capacity of the abrasive in each
machine is related to the shot blasting power used for the turbines. An incorrectly sized system will cause
premature wear to the machine and decrease overall shot blasting effectiveness and shot consumption.
Blast Cabinet
The machine cabinet contains dust and abrasive. A machine mounted
dust collector, reduces air pressure inside the machine thereby
preventing dust from escaping into the shop environment. Material
access openings in the entrance and exit of the shot blaster must be
designed and protected to prevent abrasive spillage.
Cabinets are built from low carbon steel with an inner shell made of
abrasive resistant materials including high strength alloy plates and
thick rubber compounds. In the areas that are subject to direct high
velocity shot, alloy steel plates (64 RC hardness) are used which have
much more abrasion resistance than other more commonly used
materials like manganese steel.
Dust collector system
Dust produced during shot blasting is withdrawn from the machinery
cabinet and continuously recirculating abrasive by a dust collector.
Typical dust collector design uses baffle filters or cartridges. The dust
collector not only evacuates dust within the machine but also keeps the
surrounding area clean and dust free. Changes in airflow will reduce
collector efficiency and therefore result in lower dust extraction, loss of
the cleaning power, and contribute to dust in the immediate production
area. A properly designed and sized dust collector is therefore critical
to the ongoing performance of the shot blasting system.
System for holding and transporting parts for shot blasting
Handling and transporting parts through the shot blast process will
depend on several factors.
For materials in large quantities (brake, pulleys, screwdrivers, etc.)
tumblast machines are used. For larger and heavier pieces, (motor
blocks, bicycles frames, bunch-welded parts, etc.) spinner hanger
machines are used. For the shot peening of gears and other special
components, tables and multi tables machines are used. For cleaning
pipes, plates, bars, wire continuous machines are used.

Controls and instrumentation
The system providing the control and instruction for the starting and
stopping all functions such as, elevators, dust collectors, turbines, part
handling system, ammeters and time meters for the turbine motors are all
placed in a central console.
The control panel is designed with sequential startup to assure the
different systems are energized in the proper sequence. All systems can be
automated for continuous processing that will increase production, reduce
operator interaction and consistently maintain a particular surface
specification.

Standard Weight Of Beams

Standard Weight of Channels

CHANNEL	WT.  kg/m	SURFACE AREA m2/m
ISMC 75 X 40	7.14	0.31
ISMC 100 X 50	9.56	0.40.
ISMC 125 X 65	13.10.	0.51
ISMC 150 X 75	16.80.	0.60.
ISMC 200 X 75	22.30.	0.70.
ISMC 225 X 80	26.10.	0.77
ISMC 250 X 80	30.60.	0.82
ISMC 300 X 90	36.30.	0.96
ISMC 400 X 100	50.10.	1.20.

How to boost preventive action program

One difficult task of many companies is the ability to instill in its employees the mindset of error or problem prevention in order to prevent problems or mistakes from happening and to improve the processes in place. This consequently translates into a low to none ratio of preventive actions against corrective actions issued which may raise an alarm flag that preventive action is weak. So how can a company boost the number of preventive actions and increase awareness in problem prevention and continual improvement?
Internal Audit reports
Depending on the skill level of internal auditors or the format of internal audit program, internal audit reports may contain information that can easily be used as preventive actions.
Typically, internal audit reports do not list preventive actions but corrective actions only. In some cases one may have audit reports that ramble on, and in some cases one may have audit reports that are well structure and where preventive actions can definitely be drawn. If the latter is the case, then go ahead and turn any observation into a preventive action.
If however this is not the case, then one may have to scout the report, to look for observations pointed out in the summary or comments section, where the auditors express their perception of the system after conducting the audit. In internal audit reports I see more comments than I see observations, so one may be dealing with opinions. Read this area and see if there are any comments that could be translated into preventive actions and that had not already been issued as nonconformities in the report.
Again, if this is a case of internal audits, then assess if modification of the audit report template itself is feasible. Modifying the audit report template to allow for structure comments regarding potential problems or observations will make job easier later on when is time to document preventive actions. Of course modifying the report format should be paired with training Auditors and Lead Auditors to be aware of what constitute a preventive action and the importance of reporting them.
Registrar External Audit reports
External Audit reports often contain several sections besides the Findings or Nonconformity sections. In fact, is not uncommon to see the following reported in an audit report from a registrar:
 Opportunities for Improvements
 Observations
 Noteworthy Efforts
 Nonconformities or Findings
Here it is easy to detect which areas should go into corrective action program and which areas should go into preventive action program. Obviously nonconformities or findings should go into corrective action program; however opportunities for improvement and observations should be looked at for incorporation into the preventive action system.
More often than not, observations and opportunities for improvement contain valuable information that can truly help the company in their continual improvement efforts. Even noteworthy efforts should be looked at to see if something working great in one area could be also applied to other areas of the company. If one takes this approach, one will see that there are many opportunities in the auditor’s report that can translate into preventive actions.
Customer Audit Reports or Customer Requests
Most quality management systems have a program to handle customer complaints either through corrective action system or through a standalone customer complaint program. While this is great, it often overlooks or does not address results from customer audits or customer requests. In fact unless the customer does complaint, many customer requests are not documented. Basically the customer request is acted on and taken care, without appropriate documentation. As in the case of internal or external audit reports, if customer conducts an audit and issues a report, take a look at the results beyond the nonconformities or findings and use any comments or suggestions as opportunities that can be funneled through preventive action program.
If customer’s suggestions, requests or other comments are properly documented through preventive action program, one stands to gain not only from the potential improvement itself but actually one may find some trends or patterns that were not visible before. When it comes to customer satisfaction and continual improvement of customer relations, any opportunity should be greatly welcome.
Keep it Simple
While the purpose of this article is to help boost the number of preventive actions in company and to benefit from the subsequent improvement one will see from them, it is not our intention to overburden system or to consume valuable resources in tasks that are not value add. First thing one may want to do is make sure that preventive action program is simple. Basically a preventive action system should be:
 Simple to use
 Simple to act on
 Simple to follow up
 Intuitive
If one needs a full time data entry person to fill out hard paper form -if one does not have an electronic system – or if one needs a rocket scientist to fill out electronic preventive action form, then system will not get used and preventive actions will not be recorded. One should make it easy for anybody to submit preventive actions or any opportunity for improvement for that matter. In fact, very few fields should be required, enough fields to know what and where; the how, the who and when can be determine by somebody else, perhaps a manager or the person who has the responsibility for the preventive and corrective action program.
Ensure that form or electronic system is flexible. Just as corrective actions are not created equal, neither are preventive actions. System should have flexible paths, to allow for quick improvements to be documented in a few steps, while deeper or complex improvements may need additional verification steps. Also do not confuse verification with validation. Oftentimes, preventive actions do not require validation, for the obvious reasons that they are preventive actions and the problem has not happen in the first place.
When one removes the responsibility for determining how an improvement ought to happen from the person reporting the opportunity, one may see that more people are apt for submitting improvements. While in some cases a person submitting an improvement may also be tasked with investigating how the preventive action can be put in place, it will be done with management backing, so the individual is ensured that his or her idea or issue is taken seriously.
Above all… Training
Adequate training is definitely a key factor in ensuring that people are knowledgeable of the programs and the systems one has in place as well as the importance of bringing opportunities for improvement or preventive actions to light. So if all else fails, then one may need to revisit if more training is required to ensure that employees know the value of continual improvement. In fact employees should have the mindset that any problem -potential or detected- is part of the continual improvement efforts and basically should be seen as an opportunity to be a better company and not as an admittance of failure.
This article should give you enough tools to boost your preventive action system and the number of preventive actions entered in program, not just for auditing purposes but for making sure that improvements are brought up and addressed appropriately. Organization should be in a continual state of improvement, and rising the bar every so often should help in journey to world class quality.
About the Author
Miriam Boudreaux is the President of Mireaux Management Solutions, a consulting firm headquartered in Houston, TX. To get in touch with Miriam Boudreaux please contact her at miriam@mireauxms.com.

GROWING THE LEADER IN US

"For what we've discovered and rediscovered, is that leadership isn't the private reserve of a few charismatic men and women. It's a process ordinary people use when they're bringing forth the best from themselves and others. Liberate the leader in everyone and extraordinary things happen."
James M. Kouzes and Barry Z. Posner, The Leadership Challenge: How to Keep Getting Extraordinary Things Done in Organizations
Leadership is a verb, not a noun. Leadership is action, not a position. Leadership is defined by what we do, not the role we are in. Some people in "leadership roles" are excellent leaders. But too many are bosses, "snoopervisors," technocrats, bureaucrats, managers, commanders, chiefs and the like. Conversely, many people who have no formal leadership role are excellent leaders. In today's fast changing world, we all need to be leaders.
To lead is to show the way by going in advance. To lead is to guide or direct a course of action. To lead is to influence the behavior or opinion of others. We all need to be leaders, regardless of our formal title or role. This starts with inner self-leadership and moves outward to influence, guide, support and lead others. The process of becoming a leader is the same as the process of becoming a highly effective human being. Leadership development is personal development. Leadership ultimately shows itself in what we do "out there." But it starts "in here."
It would be easy if we could all become leaders by following a simple set of steps. But the journey of personal growth means finding our own way. There are, however, critical areas of personal development based on timeless principles. The distance we need to grow along each leadership dimension will differ for each of us, but defining and continually growing along each of these paths is the way of the leader.
Strong leaders are well-rounded and constantly expanding their personal leadership across these key areas:
Choose Not to Lose. Whether we choose to focus on our problems or our possibilities is a key leadership issue. When we are faced with obstacles and failure, those who can overcome adversity and learn from their experiences, turning them into opportunities, are the ones who will be truly successful.
•Focus and Context. THE CORE OF MY BEING: This is central to our growth along all the other dimensions. Our Focus and Context is shaped by three vital questions: Where am I going? (my vision); What do I believe in? (my principles and values) and; Why do I exist? (my purpose or mission).
•Responsibility For Choices. IF IT'S TO BE, IT'S UP TO ME: Leadership means accepting responsibility for our choices in life. Leaders realize that life accumulates, that choice more than chance determines their circumstances. They refuse to succumb to the "Victimitus Virus" ("it's all their fault" and "there's nothing I can do").
•Authenticity. GETTING REAL: Leadership isn't just what we do, it's something that we are, which then drives what we do. Genuine leadership comes from within. It's authentic and based on honesty, integrity and trust. We must ring true to ourselves by exploring our inner space, gathering feedback on our personal behavior and ensuring consistency with our stated values and principles.
•Passion and Commitment. BEYOND NEAR-LIFE EXPERIENCES: Successful people are energized by a love for what they do because it brings them ever closer to who they are. They overcome apathy and cynicism, develop a burning commitment to their causeand with discipline achieve their dreams and desires.
•Spirit and Meaning. WITH ALL MY HEART AND SOUL: What is the purpose of our work? Of our lives? Material success alone is not enough. Leaders seek within — and find something more. In what is too often a mad dash from cradle to grave, we need to take time — in work and life — to nourish our inner selves.
•Growing and Developing. FROM PHASE OF LIFE TO WAY OF LIFE: The popular goals of security, stability and predictability are deadly. The closer we get to these dangerous goals, the more our growth is stunted. True and lasting security comes from constant growth and development, based on regular R& amp R (reflection and renewal).
•Mobilizing and Energizing. PUTTING EMOTIONS IN MOTION: Leaders don't motivate with rewards and punishments. Whether at home or in the workplace, they energize people to motivate themselves. Highly effective leaders boost the energy of others with their passion and appreciation. They engage people's hearts as well as their minds. They get them involved and participating. They actively nurture the "being" or culture of the group, not just the "doing."
The more the world changes, the more leadership principles stay the same. Leadership principles are timeless. And they apply to all of us, no matter what role we play in society or organizations.

Stop limiting your people

--Bump team productivity 50% by eliminating bad corporate habits and mindsets
Since 1987 I’ve worked with corporate leaders to improve employee productivity, and I have found that most organizations don’t take advantage of the ‘stars’ they work so hard to hire. They inadvertently but immediately begin limiting those stars’ results by enforcing a hostile work environment full of grinding systems that dramatically detract from performance. And it’s not the employees' fault: It’s driven by the person in charge.

We call this limiting process “sub-optimization”
Bovo-Tighe one-on-one surveys have asked thousands of executives “if you were getting maximum performance from your team, how much would performance increase?” Many initially said, “I could get a 10 – 20% increase.” But when pressed, most groan and admit that they could truly be getting a 40 – 60% increase in productivity if they only knew how.
How about you? Are you getting 90% of your team’s potential performance? 80%? Or like most managers are you getting closer to 50% from a lot of sub-optimized talent?
Now flip the question around: If you could get increase your people’s productivity by 15-20% or more, how much could that improve your company’s bottom line?

Why are your people limited?
Look for the usual suspects: Most organizations waste huge amounts of employee horsepower with marginal meetings, poor systems, dropped communications, political maneuvering, flaccid project management, misunderstood direction, poor delegation, and task / employee misalignment. And that’s just the top of the list. No company does this on purpose. They just don’t know how to change their systems and "mindsets" to fully engage their people and maximize their contribution.

The “Self-Deception” or “Bosses Are In Denial” Issue
Even though many leaders know that they could get more productivity from their employees, they believe that everyone is working as hard as they can. Why? Bosses measure performance the wrong way, and don’t get real, honest feedback. Most executives rely on what they see, and what they see is people who are tired and stressed, and who seem to "try very hard."
None of this anecdotal evidence is really an accurate measure of staff capacities, or their capabilities.
The limiting corporate habits and mindsets mentioned above all add tiredness, stress, and make people work harder without being more productive
Perversely, the less efficient your organization is the more righteous and hard-working your people may appear! I can’t tell you how many times employees have admitted to me that they are hesitant to fix broken systems because they get a lot of credit for saving the day when the system breaks. (Everyone loves a hero!)
Think about this: If our statistics hold true in your organization and you are receiving 60 or even 80% of your people’s potential, it means you could get a 20% improvement for free. All you need to do is release their full potential by better engaging them in your mission.

The Tricky Part
Capturing this extra 20% isn’t easy, but our experience proves that it can be done. And you can get started immediately by doing a few key things. First, start creating an environment through which to get direct, honest feedback from your people so you can begin to determine where they may be sub-optimized. Fair warning: Initially, they most likely won’t give it to you, because they don’t trust what you will do with it.
(Nearly every leader I know believed they understood their people well and could get great feedback if they need it. Most of them found out they were completely wrong!)
Why is it so rare to truly understand where your people may be sub-optimized?
• They don’t want to hurt your feelings, knowing you’re trying hard and stressed too.
• They don’t want to hurt their career, which frankly, you hold in your hands
• Nobody wants to appear to not be a team player.
Start Fixing It Today
Bottom line: More engaged employees require a more engaged boss. In a recent program we ran for an energy industry sub-contractor, the supervisors in the program identified close to 30 ways in which they could be better “bosses” who fully tapped the passion of their people. Here are ten typical leadership behaviors from their list:
• Give complete details for work including the “why” of each task
• Adapt more quickly and cooperatively to sudden changes
• Accept (even seek) criticism from peers and employees
• Explain yourself more and give more detail
• Demonstrate more patience with new employees
• Learn to control defensiveness
• Find value in conversations
• Share knowledge and seek knowledge from others
• See things from a different point of view
• Look for the contributions of each of the styles and finds ways to use them to achieve goals
Critically, each manager only took on the burden to change their mindset on one or two items on their list. That made the process manageable, and tracking their success easier.
The results? Significant improvement in staff morale (their bosses were proving that “being human” could coexist with being in charge!). Aside from the specific cost savings each manager recorded that improved the bottom line (about a 300% return on investment, by their own calculation,) my program manager was barraged with feedback personally:
“The response was astonishing. What was initially greeting with skepticism turned into whole-hearted unbridled enthusiasm. For months leaders caught me in the hallways, at the airport, in toolbox meetings, asking questions and discussing their plans. (The supervisors) have clearly deeply internalized true leadership behaviors, even though many are new and unseasoned (in their roles). They think they can set the bar that others aspire to.”
You only optimize your people’s productivity when fully engaged employees with the right corporate mindsets apply all their passion to their jobs. And that process starts with building true, unshakable trust between you and your co-workers.
Building unshakeable trust is a long-term commitment, and you need to take a consistent, active, sustained approach to achieve it.

ref
Renovo Consulting
Knowledge, Innovation and Research Division

How to Get Your Executives to Pay Attention to Metrics

Almost everyone has come to understand the necessity of metrics. Unfortunately, the vast majority of metrics in use today have little impact because they were not designed to effectively ‘get the attention’ of executives.
The issue isn’t metrics in general; at many firms, executive team meetings are often referred to as the equivalent of ‘math camp’. While many other firms may not be as ‘geeky,’ metrics rule the boardroom. The lack of interest in metrics cannot be attributed to particular function, as that state is true for many departments of organization.
The real issue few pay attention to metrics is a simple one. Metrics is rarely a strategic priority and due to years of bureaucracy and failure to meet expectations, it is something that most managers and executives would rather deal with less rather than more unless it is immediately relevant to their business.
For metrics to be effective in altering behavior, they need to be both visible and immediately relevant to the business. To accomplish that, metrics leaders need to proactively identify and understand the factors that make a metric a critical ‘must-see’ metric. The goal behind measurement initiatives should be to get executives to demand access to metrics, to pay thorough attention to them and to know immediately how to act differently in response to them.

Five Differentiators of Great Metrics Initiatives
Most metrics initiatives kill the design phase upon selecting a final short list of ‘easy-to-provide’ metrics. Unfortunately this approach assures mediocre results! Delivering ‘easy to provide’ metrics is like writing a free newspaper to be delivered via those plastic cubes alongside major streets … the vast majority distributed end up as garbage littering the environment. Great metrics on the other hand are like a good book, article or blog post: they tell a story.
In my years of advising leading organizations, I have noted five differentiators that truly distinguish great initiatives from all the rest, they include:
• Formal planning — They use research and benchmarking to go far beyond delivering what’s easy, taking into consideration the audience the metrics will need to influence.
• Compelling format — They deliver information in a manner that fits the interests of managers and executives, presenting data that tells a ‘complete’ story.
• Visibility — They publish information in conjunction with other highly visible internal and external discussions, demonstrating HR’s relationship to operational performance.
• Relevance — They produce intelligence related to the key strategic initiatives of the day and secondary/tertiary topics that impact those initiatives.
• Emphasis on dollar impact — Whether the metric provided is a descriptive word, a number, a percentage or a ratio, it is converted to ‘dollar impact.’
Each of the five differentiators can be approached in a variety of ways. The following checklist identifies 25 factors related to each of the categories listed above. Considering these factors when designing your recruiting metrics will go help a great deal with ensuring your managers and executives value them, pay attention to them, and change behavior as a result of having studied them.

Top Characteristics of Great Metrics Initiatives
Formal Planning
• Benchmark the best — Rather than starting from scratch, do some benchmark research both inside and outside to identify which metrics and reporting approaches have been successful elsewhere. Also don’t forget to learn about what didn’t work.
• Be audience-centric — It’s always a good idea to survey or interview target audience to identify their expectations, i.e. characteristics of a great metric that is most likely to gain their interest.
• Pretest approach — Rather than assuming that metrics will be effective, pretest them with a sample audience. Include ‘super critics’ to ensure a wide range of constructive feedback.
• Assess process — Even with the best-of-the-best initiatives there is room for improvement. Develop a formal process to periodically assess user satisfaction and value of information provided. Use the feedback wisely to make metrics indispensable.
Compelling Format
• Publish in multiple formats — Executives and managers are people too and they don’t all value information presented the same way. Providing audience with metrics delivered in multiple formats can increase the likelihood they will pay attention. Options include a single-page report, online dashboard, thorough multi-page report, e-mail alert, presentation or verbal overview. Online dashboards are the leading choice as the user can easily scan the information and drill down on topics of interest. Metrics themselves can be reported individually or grouped. The most common grouping include:
o Scorecards, summarizing key metrics;
o Indexes, combining several key metrics into a single indicator metric
o Dashboards, showing all available metrics simultaneously
to enable operational decision making
• Include visual charts — Compelling data points can quickly disappear in a sea of black ink for all but the most studious of math geeks. When focus needs to be drawn to a particular point, remember that a picture can substitute for 1,000 words. When using visual charts, keep them simple.
• Provide comparisons — Metrics presented without context are useless. For example, stating that the voluntary turnover rate is 26% means very little if I didn’t know that it was four times the industry average or double last period’s. Provide some benchmark comparison numbers for all major metrics. Those comparisons could include internal period comparisons (last quarter, last year, etc.), observed baseline comparisons (minimum, average, maximum), or external comparisons (industry average, best-in-class, direct competitors average, etc.)
• Use ‘their words’ — Jargon can distract or confuse audience. Information published that seeks to influence their behavior needs to exclusively use ‘their words.’ One can identify these words by examining their communications (e-mails, presentations, etc.)
• Relate metrics to a business goal — The reader should make the connection between metrics and the business goals they impact (e.g. a 27% increase in time-to-fill revenue generating positions directly impacts the Q4 2010 goal of increasing revenue by 30%). One can make the connection clearer by listing the impacted business goal at the top of each chart or with each metric.
• Identify key decisions – The primary purpose of all metrics is to improve management decision-making. Prioritize efforts to provide metrics and data relevant to the management matters that need the most dramatic improvement. Clearly label all metrics with the relevant decision that must be made so that the reader clearly sees the connection.
• Include red/yellow/green indicators — It’s no secret that attention spans have gotten shorter. Most executives like to scan over metrics quickly, focusing on important areas or those experiencing significant change. By using indicators equivalent to green = no issue, yellow = watch and red = action required, one can help them hone in quickly. It’s also an excellent idea to place distinctive colored arrows within charts or data that directly point to key data or inflection points.
• Provide action prompts — All metrics should drive action or change behavior. One of the best ways to ensure that the right action is taken is to include prompts at the end of each chart or metric. Prompts would list the top three recommended actions that if taken could resolve the problem or take advantage of the opportunity indicated by the metric.

Project Management Office

No matter what one calls it, a central office to manage projects across an organization, or part of an organization, is becoming a more common occurrence. Some organizations call it as Program Office, Program Management Office, Project Office, Project Management Office, Project Control Centre, Project and several other variations. People have their own interpretation for each but in the end, their role is to make projects more efficient.
Project Office Role
It is essential for the success of a new Project Office that there is clear understanding before establishment, as to the role of the office, and the interaction between the office and the individual projects.
The key to successfully establish a Project Office or Programme Office is to gain agreement at the start of the process, as to the responsibilities. A useful and speedy technique is to workshop the possible activities with the key players, and gain consensus as to what the office is intended to do. The starting point is to create a list of possible activities, then hold a workshop to evaluate the responsibility of the office, for each activity. It is likely in some cases there will be no activity, and in other cases, the activities will need to be split down further. It is also useful if the office is not to have responsibility, to identify who does have the responsibility.
Attached is a list in no particular order or particular industry. The list is not definitive. It is intended to form the basis of a review of the role. Each organization will have specific activities that may, or may not be included in the role of a Project Office.
• Uninvolved - The Project Office has no responsibility for the activities done by the project
• Monitor - Essentially they are aware of the activity and pass on information related to it to concerned stakeholders
• Influence - Whilst the Project Office is not responsible for the activity, there is a responsibility for the project team and the Project Office to work together on the particular activity
• Control - The Project Office is fully responsible for the control of activity
Role of PMO
IT Strategic Plan - Creation of a plan for the whole organization
IT Annual Operational Plan - Define the next level of detail focusing on the projects to be undertaken in the next year
Project Establishment - All projects need to be logged into some central source
Project Sizing - Create a first cut size estimate
Project Charter - The plan for the project covering all aspects objective, scope, constraints, organization and staffing etc.
Budget
• Setting the initial budget
• Performance against budget
• Budget changes
Scope
• Setting the initial scope (including exclusions)
• Scope variations (Process for managing and management of)
Staffing
• Project organisational structure
• Assigning staff
• Staff movements
• Staff personnel management
• Skills matrix and identification of gaps
• Resourcing contract maintenance & negotiation
• Staff training
• Project roles and responsibilities
• Project team terms and conditions (allowances, rates etc.)
• Timesheet and payment
• Exit management
Methodology & Processes
• Selection of a methodology
• Maintenance of a methodology
• Training
• Maintenance and customisation of procedures
• Maintenance of templates
• Compliance with methodology
• Creation of processes and procedures
• Approval of processes and procedures
• Standardisation and rationalisation of processes and procedures
• Training of processes and procedures
• Review of new methodologies
Tools
• Selection of tools
• Purchase of tools
• Exemptions from using tools
• Availability to teams
• Training
• Review of new tools
Funding
• Approval of expenditure
• Getting approvals
Standards
• Use of external standards
• Creation of internal standards
• QA services to project teams
• QA approvals
Admin Support
• Assist teams with logistics
• Produce regular reporting
• Provide facilitators to workshops
• HR issues
• Materials
Planning
• Compile plans
• Approve plans
Risk Management
• Risk assessment and logging
• Risk monitoring
• Provide risk logging facilities
Issue Mgmt
• Creation of issue log
• Management of issue log
Dependencies
• Identification of dependencies
• Monitoring of dependencies
• Identification of new dependencies
• Liaison with other teams
Communication
• External to project team
• Inter project team
Change Management
• Creation of a strategy and plan
• Implementation of plan
• Monitoring expectations
Problem Escalation
• Create a mechanism to escalate project issues
• Facilitate problem escalation
Library
• Maintain standard documents
• Maintain example documents
• Set project documentation standards
• Maintain project library
• Maintain checklists for project activities
• Create and maintain a glossary
Benefits
• Identify benefits from the project
• Quantify the benefits
• Track benefit delivery after the project
• Prepare cost benefit analysis
• Produce business case
Constraints
• Identify project constraints
Reporting
• Project status
• Budget vs Expenditure
• Scope changes
• Project overview
• Staffing
• Projections
• Gantt charts
• Earned value
Integration
• Compliance with IT architecture
• Integration with other systems
• Compliance with IT Policy
Audit
• Compliance with organisational standards
• Ad hoc audits of projects to ensure company policy is being adhered to
Post Implementation Review
• Carry out post implementation review
• Generate action items from PIR
• Carry out recommendations of PIR
Acceptance & Conformance
• Set conditions for acceptance of deliverables
• Accept deliverables
• Authorise exemptions to acceptance standards
Configuration Management
• Setting up Configuration Management
• Managing software migration
• Version control
Mentoring
• Formal mentoring programs
• Support roles in projects (e.g. supplying an experienced resource on a part time basis)
• Special Interest Groups
Business Interaction
• Carry out Business Process Re engineering
• User documentation
• User training

Financial Analysts Assessing Talent Management Effectiveness

With access to and leverage of talent playing a more critical role in an organization’s ability to succeed, financial analysts are evaluating talent management capability while rating organizations. Historically, many organizations haven’t paid much attention to factors like an organization’s ability to recruit, develop, retrain or retain top talent. This has allowed HR to operate pretty much “under the radar,” without standardized analytics.

HR, Recruitment, IR etc are no more remaining as cost center. They are becoming profit centers. Financial analysts have begun to make the connection between excellent talent management practices and profitability of the organization. More and more of the financial officials are considering making talent-management-effectiveness assessments mandatory. When the interest rate at which an organization gets on a major line of credit is influenced by talent management effectiveness, one can bet the degree of scrutiny from both internal and external leaders will change the game.

The Power of Financial Analysts
Ratings by key financial analysts can make or break a company. If an influential stock or bond analyst gives an organization a positive or negative rating, stock price can change by double-digit percentages almost instantaneously. Moreover, because evaluations by financial analysts can come without warning, one can make a strong argument that the CEOs of large public corporations fear the wrath of external financial analysts even more than they fear irate stockholders and auditors. It should be clear to the leader of any business function or unit that if their unit is negatively cited in an external financial analyst’s report, that the leader and the function are both guaranteed to bear the wrath of the entire executive team.

Moody’s Begins the Change
Moody’s is an internationally known corporate bond rating service. Its bond rating can dramatically impact the cost of corporate credit. In a recent report on the outlook for the healthcare industry and the primary factors that contributed to profitability, Moody’s made a direct connection between financial performance and success in the talent management areas of recruiting and retention. Lisa Goldstein of Moody’s wrote that an effective strategy focusing on quality could:
“Result in improved market share, better ability to recruit and retain physicians, lower nursing vacancy / turnover rates, improved financial performance…”

This statement clearly connects recruiting and retention of good people with organizational performance in both market share and financial performance. In this report, Moody’s also cites the importance of additional talent management functions, including leadership development, training and benchmarking best practices. Moody’s has made it clear that these types of factors will now influence its bond ratings. Given the widespread exposure that this report generated (it was highlighted in a Forbes article) talent management leaders in other industries can now expect their executives and an increasing number of financial analysts to increase their scrutiny and raise their expectations from the talent management function.

Google Also Connects Talent Management and Business Success
In addition to financial analysts, Google has taken the lead in making shareholders aware of the importance of talent management. For example, as early as 2004 and continuing up until the present day, Google has in its SEC legal filings been clearly stating the direct connection between talent management and company success. For example, in its June 2007 filing, it stated that “We believe that our approach to hiring has significantly contributed to our success to date.” It also included this important statement under the “risks” section: “If we do not succeed in attracting excellent personnel or retaining or motivating existing personnel, we may be unable to grow effectively.”

Additional Connections Between Talent Management and Business Success
Although no individual firm has yet to make the direct connection between its talent management success and improvements in its stock price, analysts have shown that there is a connection between these two aspects. For example, researchers at the consulting firm Watson Wyatt using its human capital index found that good people practices can increase a company’s value by as much as 30%. Russell Investments reports that firms on the Fortune “100 Best Companies to Work for” list outperform the S&P 500 and the Russell 3000 by as much as 10%.

Risk Management and Workforce Planning Collide
Workforce planning has been a key practice in best-practice organizations for some time, but despite years of continuous improvement, most organizations have had less than stellar success linking such efforts to the business success. Outside the HR function, more and more organizations are realizing that lack of capability or lack of effectiveness in talent management produces risk to the organization. Furthermore, actuaries in risk management know how to model such risk and peg potential dollar-impact assessments to each. What is easy to predict is that risk modeling will become a standard practice, but that HR may not be the driver!

Action Steps
If one is a talent management leader who wants to be proactive, strategic and demonstrate a commitment to enabling / driving the business to success, don’t delay action until this external assessment trend hits the organization in the face. Instead, consider it as an opportunity to show off the results that one has worked so hard to produce. Some action steps that may be recommended include:
• Start by putting together a team of financial and metrics experts in order to prepare for this visibility and scrutiny
• Develop a set of workforce productivity metrics, starting with revenue per employee but escalating to the ratio of the dollars of labor costs to dollars of corporate profit
• Develop a set of correlations between improved results in recruiting, development, retention etc and increases in business results, including sales, customer satisfaction and product quality
• Learn how to convert talent management results into their impact on corporate revenues
• Develop a methodology and approach that allows organization to prepare for and to successfully respond to financial analyst’s questions and inquiries
Final Thoughts
At many firms, the largest single variable expense is employee cost. Because it is such a large expense item, it must provide a positive return on investment. Unfortunately, many HR leaders have been reluctant to even calculate their return on employee costs. If what many predict will happen does happen, very soon organization will have no choice but to calculate such metrics and subject them to public scrutiny. Depending on how the results rank, that could be a great day, or alternatively, it may be last day.

Source - From one HR consulting firm

Tips for Effective Employee Recognition

Prioritize employee recognition and organization can ensure a positive, productive, innovative organizational climate. Provide employee recognition to say “thank you” and to encourage more of the actions and thinking which will make organization successful. People who feel appreciated are more positive about themselves and their ability to contribute. People with positive self-esteem are potentially best employees. These beliefs about employee recognition are common among employers even if not commonly carried out. Why then is employee recognition so closely guarded in many organizations?

Time is an often-stated reason and admittedly, employee recognition does take time. Employers also start out with all of the best intentions when they seek to recognize employee performance. They often find their efforts turn into an opportunity for employee complaining, jealousy and dissatisfaction. With these experiences, many employers are hesitant to provide employee recognition.

Many experiences show that employee recognition is scarce because of a combination of factors. Organizations don’t know how to provide it effectively, so they have bad experiences when they do. They assume “one size fits all” when they provide employee recognition. Finally, employers think too narrowly about what people will find rewarding and recognizing. These guidelines and ideas will help effectively walk the slippery path of employee recognition and avoid potential problems while recognizing people in work place.

Guidelines for Effective Employee Recognition
Decide what organization wants to achieve through employee recognition efforts. Many organizations use a scatter approach to employee recognition. They put a lot of employee recognition out there and hope that some efforts will stick and create the results they want. Or, they recognize so infrequently that employee recognition becomes a downer for many when the infrequent few are recognized.

Instead, create goals and action plans that recognize the actions, behaviors, approaches, and accomplishments organization wants to foster and reward. Establish employee recognition opportunities that emphasize and reinforce these sought-after qualities and behaviors. If one needs to increase attendance in organization, hand out a three-part form, during Monday morning staff meeting. The written note thanks employees who have perfect attendance that week. The employee keeps one part; save the second in the personnel file; place the third in a monthly drawing for gift certificates.

Fairness, clarity, and consistency are important
People need to see that each person who makes the same or a similar contribution has an equal likelihood of receiving recognition for their efforts. It is recommended that for providing employee recognition, organizations establish criteria for what makes a person eligible for the employee recognition. Anyone who meets the criteria is then recognized.

As an example, if people are recognized for exceeding a production or sales expectation, anyone who goes over the goal gets the glory. Recognizing only the highest performer will defeat or dissatisfy all other contributors, especially if the criteria are unclear or based on opinion.

For day-to-day employee recognition need to set guidelines so leaders acknowledge equivalent and similar contributions. Each employee who stays after work to contribute ideas in a departmental improvement brainstorming session gets to have lunch with the department head.

This guideline is why an “employee of the month-type program” is most often unsuccessful. The criteria for results and the fairness of these criteria are not clear to people. So, people complain about “brown-nosing points” and the boss’s “pet.” These programs cause discontent and dissention when the organization’s intentions were positive.

As an additional example, it is important to recognize all people who contributed to a success equally. A CEO may perpetually announced employee recognition for major projects at the company holiday celebration. Without fail, he may miss the names of several people who contributed to the success of the project. With the opportunity for public recognition past, people invariably felt slighted by the post-banquet thanks.

More Ways to Provide Effective Employee Recognition
Employee recognition approaches and content must also be inconsistent
Contradictory? No, not really. Organization wants to offer employee recognition that is consistently fair, but it also wants to make sure that employee recognition efforts do not become expectations or entitlements. As expectations, employee recognition efforts become entitlements. Bad news.

As an example, a company owner provided lunch for all staff every Friday to encourage team building and positive work relationships. All interested employees voluntarily attended the lunches. He was shocked when a group of employees asked him for reimbursement to cover the cost of the lunch on days they did not attend. The lunches had become an expected portion of their compensation and benefits package. Sincere recognition had turned into entitlement.

Inconsistency is encouraged in the type of employee recognition offered also. If employees are invited to lunch with the boss every time they work over-time, the lunch is an expectation. It is no longer a reward. Additionally, if a person does not receive the expected reward, it becomes a dissatisfier and negatively impacts the person’s attitude about work.

Be as specific in telling the individual exactly why he is receiving the recognition
The purpose of feedback is to reinforce what organization would like to see the employee do more of; the purpose of employee recognition is the same. In fact, employee recognition is one of the most powerful forms of feedback that can be provided. While “you did a nice job today” is a positive comment, it lacks the power of, “the report had a significant impact on the committee’s decision. You did an excellent job of highlighting the key points and information we needed to weigh before deciding. Because of your work, we’ll be able to cut six percent of the budget with no layoffs.”

Offer employee recognition as close to the event as possible
When a person performs positively, provide recognition immediately. Likely the employee is already feeling good about her performance and timely recognition of the employee will enhance the positive feelings. This, in turn, positively affects the employee’s confidence in her ability to do well in organization.

Specific Ideas for Employee Recognition
Remember that employee recognition is situational
Each individual has a preference for what he finds rewarding and how that recognition is most effective for him. One person may enjoy public recognition at a staff meeting; another prefers a private note in personnel file. The best way to determine what an employee finds rewarding is to ask.

Use the myriad opportunities for employee recognition that are available
In organizations, people place too much emphasis on money as the only form of employee recognition. While salary, bonuses and benefits are critical within employee recognition and reward system - after all, most of us do work for money - think more broadly about opportunities to provide employee recognition. There are few categories of employee recognition which can be used to thank employees for their contribution.

Examples of items which can be used for Employee Recognition
Employee recognition is best approached creatively. While money is an important form of employee recognition, ideas for employee recognition are limited only by imagination. Use the following ideas as approach for providing employee recognition.

Money
• Base salary
• Bonuses
• Gift certificates
• Cash awards

Written Words
• Handwritten ‘Thank you’ notes
• A letter of appreciation in the employee file
• Handwritten cards to mark celebratory occasions
• Recognition posted on the employee bulletin board
• Contribution noted in the company newsletter

Positive Attention From Supervisory Staff
• Stop by an individual’s workstation or office to talk informally
• Provide frequent positive performance feedback – at least weekly
• Provide public praise at a staff meeting
• Take the employee out to lunch.

Encourage Employee Development
• Send people to conferences and seminars
• Ask people to present a summary of what they learned at a conference or seminar at a department meeting
• Work out a written employee development plan
• Make career development commitments and a schedule

The Work Itself
• Provide cross training opportunities
• Provide more of the kinds of work the employee likes and less of the work they do not like
• Provide opportunities for empowerment and self-management
• Ask the employee to represent the department at an important, external meeting
• Have the employee represent the department on an inter-departmental committee
• Provide opportunities for the employee to determine their own goals and direction
• Participation in idea-generation and decision making

Gifts
• Company logo merchandise such as shirts, hats, mugs, and jackets
• Gift certificates to local stores
• The opportunity to select items from a catalog
• The ability to exchange "positive points" for merchandise or entry into a drawing for merchandise

Symbols and Honors
• Framed or unframed certificates to hang on the wall or file
• Engraved plaques
• Larger work area or office
• More and better equipment
• Provide status symbols, whatever they are in organization

Benefits
Make employee recognition is a common practice, not a scarce incidence, in organization. With these ideas, one may have many ideas that will help to develop a work environment that fosters employee recognition and hence, employee success.

Motivated employees do a better job of serving customers well. Happy customers buy more products and are committed to use services. More customers buying more products and services increase profitability and success. It's an endless circle. Hop on the employee recognition bandwagon to keep the circle spinning.

TOOL STEELS

As the designation implies, tool steels serve primarily for making tools used in manufacturing and in the trades for the working and forming of metals, wood, plastics, and other industrial materials. Tools must withstand high specific loads, often concentrated at exposed areas, may have to operate at elevated or rapidly changing temperatures and in continual contact with abrasive types of work materials, and are often subjected to shocks, or may have to perform under other varieties of adverse conditions. Nevertheless, when employed under circumstances that are regarded as normal operating conditions, the tool should not suffer major damage, untimely wear resulting in the dulling of the edges, or be susceptible to detrimental metallurgical changes.

Tools for less demanding uses, such as ordinary handtools, including hammers, chisels,files, mining bits, etc., are often made of standard AISI steels that are not considered as belonging to any of the tool steel categories.
The steel for most types of tools must be used in a heat-treated state, generally hardened and tempered, to provide the properties needed for the particular application. The adaptability to heat treatment with a minimurn of harmful effects, which dependably results in the intended beneficial changes in material properties, is still another requirement that tool steels must satisfy.

To meet such varied requirements, steel types of different chemical composition, often produced by special metallurgical processes, have been developed. Due to the large number of tool steel types produced by the steel mills, which generally are made available with proprietary designations, it is rather difficult for the user to select those types that are most suitable for any specific application, unless the recommendations of a particular steel producer or producers are obtained.
Substantial clarification has resulted from the development of a classification system that is now widely accepted throughout the industry, on the part of both the producers and the users of tool steels. That system is used in the following as a base for providing concise information on tool steel types, their properties, and methods of tool steel selection.

The tool steel classification system establishes seven basic categories of tool and die steels. These categories are associated with the predominant applicational characteristics of the tool steel types they comprise. A few of these categories are composed of several groups to distinguish between families of steel types that, while serving the same general purpose, differ with regard to one or more dominant characteristics. To provide an easily applicable guide for the selection of tool steel types best suited for a particular application, the subsequent discussions and tables are based on the previously mentioned application-related categories. As an introduction to the detailed surveys, a concise discussion is presented of the principal tool steel characteristics that govern the suitability for varying service purposes and operational conditions. A brief review of the major steel alloying elements and of the effect of these constituents on the significant characteristics of tool steels is also given in the following sections.

Specific Gravity

Specific gravity is a number indicating how many times a certain volume of a material is heavier than an equal volume of water. The density of water differs slightly at different temperatures, so the usual custom is to make comparisons on the basis that the water has a temperature of 62°F. The weight of 1 cubic inch of pure water at 62°F is 0.0361 pound. If the specific gravity of any material is known, the weight of a cubic inch of the material, therefore, can be found by multiplying its specific gravity by 0.0361.

Example:The specific gravity of cast iron is 7.2. Find the weight of 5 cubic inches of cast iron.
7.2 × 0.0361 × 5 = 1.2996 pounds
To find the weight per cubic foot of a material, multiply the specific gravity by 62.355. If the weight of a cubic inch of a material is known, the specific gravity is found by dividing the weight per cubic inch by 0.0361.

Example:The weight of a cubic inch of gold is 0.697 pound. Find the specific gravity.
0.697 ÷ 0.0361 = 19.31
If the weight per cubic foot of a material is known, the specific gravity is found by multiplying this weight by 0.01604.

The weight per cubic foot is calculated on the basis of the specific gravity except for those substances that occur in bulk, heaped, or loose form. In these instances, only the weights per cubic foot are given because the voids present in representative samples make the values of the specific gravities
inaccurate.

Average Weights and Volumes of Fuels.—The average weight of a bushel of charcoal is
20 pounds; of a bushel of coke, 40 pounds; of a bushel of anthracite coal, 67 pounds; and of
a bushel of bituminous coal, 60 pounds.
Anthracite coal, 1 cubic foot = 55 to 65 pounds.
Anthracite coal, 1 ton (2240 pounds) = 34 to 41 cubic feet.
Bituminous coal, 1 cubic foot = 50 to 55 pounds.
Bituminous coal, 1 ton (2240 pounds) = 41 to 45 cubic feet.
Charcoal, 1 cubic foot = 18 to 18.5 pounds.
Charcoal, 1 ton (2240 pounds) = 120 to 124 cubic feet.
Coke, 1 cubic foot = 28 pounds.
Coke, 1 ton (2240 pounds) = 80 cubic feet.

Weight of Wood—The weight of seasoned wood per cord is approximately as follows,
assuming about 70 cubic feet of solid wood per cord: beech, 3300 pounds; chestnut, 2600 pounds; elm, 2900 pounds; maple, 3100 pounds; poplar, 2200 pounds; white pine, 2200 pounds; red oak, 3300 pounds; white oak, 3500 pounds.
Weight per Foot of Wood, Board Measure.—The following is the weight in pounds of
various kinds of woods, commercially known as dry timber, per foot board measure: white oak, 4.16; white pine, 1.98; Douglas fir, 2.65; short-leaf yellow pine, 2.65; red pine, 2.60; hemlock, 2.08; spruce, 2.08; cypress, 2.39; cedar, 1.93; chestnut, 3.43; Georgia yellow pine, 3.17; California spruce, 2.08.

Projects List for BE, MCA, IT etc. students

Project Name, Description and technologies
1. Reverse engineering of java source files
The main objective of this project is to reverse engineer java source files into UML Class Diagrams. This class diagrams will includes displaying member data, member functions, visibility of member data and member functions. It also displays the relationships between two or many classes. The relationships includes composition, aggregation, association, generalization and dependency. It also displays the inheritance and implements relationships.
Core JAVA, Eclipse, UML, JAVA Doclet API

2. Mark sheet on Mobile
The main objective of this project is to minimize the burden on internet café when results of HSC, SSC declared. When results are declared then the mark sheet of student is sent to mobile of parents or student. The mobile number is already configured in the system at the time Student entry in Education commission's database.
Core JAVA, JSP, Servlet, J2ME, JAVA SMS API

3. IRIS Recognition System
Core JAVA, Swing, Image Processing

4. Home Security Alarm (Alert)
The main objective of this project is to send the alarm (SMS alerts) on home owner's or Security personnel's mobile when there is some thing malicious (like theft ) happened in his home.
Core JAVA, J2ME, Java SMS API

5. Photo Image capture and ID Card Generation
The main objective of this project is to capture the image of visitor, student in the organization and generate visitor or student ID card from that image. Also store the photo image of visitor, student to track their information.
JAVA, JSP, Servlet, JAVA Image API, Database

6. Optical Character Recognition
The main objective of this project is to recognition of text on image and PDF file and convert it to plain text.
Core JAVA, JAVA Image API

7. Mobile based online voting system
The main objective of this project is to get the Candidate's list on mobile and submit vote to Candidate though mobile phone. After successful submission of vote voter will get SMS.
Core JAVA, J2ME, JSP, Servlet, Database

8. Automatic Scheduler for Office
The main objective of this project is to manage the schedule for office staff. Staff gets updated schedule on mobile phone, which also alarms for upcoming schdule.
Core JAVA, J2ME, JSP, Servlet, Database

9. Video Streamer
The main objective of this project is to view online streaming videos. Also searches the videos on video providing web site.
Core JAVA, J2ME, JSP, Servlet, Database

Seminar Topics for Engineering Students

1. Micro Fabrication Techniques Of Microelectromechanical Systems
2. Virtual Manufacturing
3. Robotics Application
4. Fiber Reinforced Plastic
5. Smart Material
6. Diesel Locomotive
7. Recent Metrological Machines
8. Global Warming Its Effects On Climate And Mitigation Techniques.
9. Reverse Engineering
10. Rapid Prototyping And Rapid Tooling
11. Lasermachining
12. Artificial Intelligence
13. Biomedical Materials
14. Nanotechnology
15. Biodiesel
16. Rapid Prototyping & Rapid Tooling
17. Fuel Cells
18. Hybrid Vehicles
19. Microwave Processing Of Materials1
20. Robotic Applications In Arc Welding
21. Recent Advancements In Metrology_Mangesh Landage
22. Nuclear Power-Promises_Shirish Atri
23. Molten Carbonate Fuel Cells &Micro Fuel Cells_Mahesh
24. Global Warming
25. Gliding And Landing
26. Design Optimization

Cotter joint with a gib

Gib and cotter joints are used for rods of square or rectangular cross section .the end of one rod fits the end of the other rod which is made in the form of a strap. A gib is used along with the cotter to make this joint. Gib is likely a cotter but with two gib heads at its ends . The thickness of the gib and cotter are same.

Cotter joints

A cotter joints is a flat wedge link piece of steel of rectangular cross section which is inserted through the rods at high angle to their axes .It is uniform in thickness but tapering in width , generally on one side only. Usually the taper is 1 in 30. when a special arrangement like a set-screw is provided for keeping the cotter from slackening ,its taper may be as large as 1 in 7. the end of the cotter are made narrow to facilitate the hammering for fixing and removing.

cotter joins are generally use to fasten rigidly two rod s which is subjected to tensile or compressive stress along their axes. this joint is used to connect two circular rods.

This joint in not suitable where the member are subjected under rotation.
Thus they differ from key joints which are used to fasten shaft and hubs subjected to tensional stress