F11-074 - Nguyen Tri Thanh.v.1.1.docx

Poor co ordinationfrequent upward referrals or

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- Poor co-ordination:Frequent upward referrals, or interdepartmental meetings, need to be held 3.3 Critically analyse the interrelationship between various functions within Vietinbank and how they are interconnected to organisational objectives and structure of Vietinbank. Marketing orientation for production strategies and plans, finance, personnel and vice versa. Each strategy and marketing plan, as well as specific measures such as product, price, distribution and promotion, require the necessary resources such as capital, personnel and technology to be realized in practice. Obviously, the production department must ensure the quality and quantity of the products marketed as required by the marketing department; or the
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financial department must ensure funding for marketing activities. Brand and Communication Division are aimed at raising the brand value of Vietinbank, providing public information about them. In order to carry out extensive promotional activities for consumers, they need the help of IT departments. IT division will use computers and computer software to convert, store and process data sources. Vietinbank can participate as issuers and sell their shares. They shall issue both shares to create new capital sources or additional capital in the course of operation. In addition, all commercial banks, regardless of ownership, may issue bonds to raise capital from the economy. These have created a huge commodity market in the secondary market. 4.1 Purpose of Human Resource Function Human Resource Management (HRM) is a systematized approach to employee relations (Lumenlearning, 2018). First, it alignsbusiness goals and human resources and re-engineers organization processes. Furthermore, it is listening and reacting to employees to preserve high job-satisfaction levels, managing change and transformation, training and staffing. Finally, it must integrate and understandethics and also labour laws 4.2 Key Roles and Responsibilities of Human Resource Function Modern HRM consists of the following functions by (Mondy&Martocchio, 2016) Staffing – Recruitment, Selection and Retention Training & Development – overseeing the organizations training programs Compensation& Benefits – the combination of installment and other benefits that a representative gets for doing their work
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Policy & Procedure Management – Develop organizational policies and procedures as well as monitor disciplinary and behavioral corrective actions Forecasting Workforce Requirements – developing a workforce plan to meet strategic objectives of the organization Job Analysis & Job Design – periodic reviews of each job along with developing each position through enlargement and enhancement Employee Relations – maintaining positive relations through communications between the organization, the employee, and any trade union More information at appendix B 4.3 ‘Best Fit’ approach or ‘Best Practice’ Armstrong(2014 , p30 ) has defined that Best Fit model reflect that HR strategies should be congruent with the context and circumstances of the organization. While Best Practice is a set of
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