Based on Tesco Assignment Example | Topics and Well Written Essays - 2000 words

Based on Tesco - Assignment Example A motivated workforce results in increased performance, thus an improvement of the firm’s profitability. Therefore, Tesco may motivate its staff by way of providing monetary rewards, non-financial rewards, training, and development. Training is of increasing significance of firms seeking to gain competitive advantage amongst the competitors. Various schools of thought have come to a conclusion that training and development is a human resource practice that may considerably influence the success of a company. Tesco’s growth could be improved by use of on the job-training, mentorship programs, coaching programs, use online marketing tools, and evaluating the effectiveness of the training and development programs. The other element that can affect the performance of a firm is reward. The provision of financial and non-financial rewards impact positively on the firm’s performance, financial gain, and employee motivation, and job satisfaction. Both the monetary incent ives and non-monetary benefits, such as work-life balance, flexible working hours, rewards and recognition, leave, and vacation time not only motivate employees, but also staff turnover. As a result, there is proportionate correlation between rewards, training, learning, and development, with firm performance and growth. The universal competition and rapid changes put emphasis on the significance of human capital within a firm. An organisation’s success depends on the performance of the employees. Employees are considered as essential resources in the growth and development of the firm. In this regard, the success and growth of an organisation in any industry is reliant on its human resources. Even though there are numerous factors that play a major role, a firm needs to have effective employees in order to stay competitive and financially solvent. Motivation and satisfaction are viewed as the core element in the development of human capital in any

The Main Goals of Japan Economy Essay Example | Topics and Well Written Essays - 750 words

The Main Goals of Japan Economy - Essay Example Catch up effect theory speculates that poorer and richer economies will grow faster than richer nations; this, therefore, means that they will converge at some point in terms of their per capita incomes. In the chart below there is no catch-up effect because developed countries like Japan has a per capita of 30866 as compared to Congos 374 (GAPMINDER, p. 2). Japan is currently ranked number 12, with a human development index of 0.901, compared to the world’s average of 0.682. Human development index shows a three-dimensional measure of human development which includes assessment of health, education, income, inequality, and poverty. With HDI of 0.901, Japan has a very high standard of living and is currently viewed by economists as one of the most expensive countries to live because of its market competitiveness. A lot of expatriates working in Japan live in big cities like Tokyo and Nagoya. The incomes of most of the residents are enough to provide them with the basic necessities. With the very high propensity to consume among the citizens a number of them still have the surplus for their leisure and personal satisfaction. This high standard of living has been on a rising scale from 0.778 to 0.901 between 1980 and 2011 showing a 16% increase (Human Development Indicators, p. 14). Japan is a very strong economy as shown by the above indicators. It has got a very high economic growth as compared to other nations with a free market and industrialized economy; it is ranked the second in the world in terms of wealth. Even though there was a reduced growth in Gross Domestic Product between 2007 and 2009, the economy picked up in 2010 with a GDP growth of 4% which is quite encouraging.  The recent reports confirmed that Japan posted a 1% expansion in the quarter of 2012 over the previous quarter.  Japans economy is also experiencing positive net exports of 1.1% of the Total GDP. Its economy is competitive and efficient on international trade as shown by the net exports, major contributors being the manufacturing and industry sector.