Dazed and Confused Essay Example for Free

Dazed and Confused EssayDazed and Confused List and describe 4 guinea pigs that are important to the movie Rand totally criticise FloydFloyd is the stud senior quarterback who realizes he doesnt want to be just a quarterback for the rest of his life and questions his role in the affable pack. He cant stand Coach Conrad and the pledge sheet hes making all the players sign. Hes going out with Simone, but hed like to hook up with Jodi. He seems to belong to all cliques. Mitch KramerMitch is going to be a freshman in high school and hes already getting picked on by the senior class. deprivation of parental supervision (and help from Pink and his pals) allows Mitch to experience high school life a little earlier than most of his classmates. Kramer is the new kid on the block who, like Pink, has an amazing athletic talent and a way with the ladies Fred OBannionOBannion is a super-senior who is enjoying his second straight year of hazing freshmen.He has a temper, and when the fres hmen get their penalise he blows up and drives away in his piece-of-junk car. David WoodersonWooderson, a former superstar quarterback and graduate working for the city after realizing that life after his alma issuing is sweeter when you live by your own rules. The high schoolers think hes cool because hes older and he has a nice car. Many of the classic lines in this movie to practice from Wooderson. Q What does the movie teach us about life? The movie dazed and confused is more than just a movie about smoking marijuana.It documents the changes we all face in life, as social and political pressures increase, when one gets older and faces decisions that require you to figure out how to avoid being what others want you to be art object staying young at heart. Q What is your best-loved part of the movie? My favorite part in the movie is when they are sitting on the 50-yard line of the football guinea pig smoking marijuana, reminiscing and having laughs. While Matthew McConaugh ey Wooderson, says a very memorable quote, Man, its the same bull***t they tried to pull in my day. If it aint that piece of paper, theres some other plectrum theyre gonna try and make for you.You gotta do what Randall Pink Floyd wants to do man. Let me tell you this, the older you do get the more rules theyre gonna try to get you to follow. You just gotta obtain livin man, L-I-V-I-N. Q Why is that your favorite part of the movie? This is my favorite part of the movie because it reminds me of me and my friends back in the day. Plus the quote You just gotta clutch livin man, L-I-V-I-N is one of my favorite quotes of life Q Do you believe the movie is realistic? Why or why not? I believe the movie is realistic because the director make the characters all so different and have their own personalities.Its also realistic because the audience can relate to at least one character in the movie. Q What have you learned from this movie? Society is full of constraints and limitations that p eople in power or those looking to capitalize on the weakness of others give on others to get them to act the way they want them to. If you want to be free of such people and situations, you have to learn how to challenge the social constructs and rules that keep you from finding your true purpose in life. wear thint let others tell you what you can and cant do.This doesnt mean that you have a right to break the laws, but it does mean that you can be anything you want to be if you are willing to go after it. There are no laws that say you have to be what someone else wants you to be. Q Who do you think (what age group, or what kind of person) would enjoy this type of movie? I think Teenagers all the way up to Elders of both genders, would enjoy this movie. Everybody who has watched it will watch again and again, and never will get old to them. For those who havent watched it, WATCH IT other important Information Director written and directed by Richard LinklaterProducers Sean Dan iel, Richard Linklater, Jim Jacks and co-producer Anne Walker-McBay * Jason London as Randall Pink Floyd * Wiley Wiggins as Mitch Kramer * Rory Cochrane as Ron woodlouse * Sasha Jenson as Don Dawson * Michelle Burke as Jodi Kramer * Christine Harnos as Kaye Faulkner * Adam Goldberg as Mike Newhouse * Anthony Rapp as Tony Olson * Matthew McConaughey as David Wooderson * Marissa Ribisi as Cynthia Dunn * Jason London as Randall Pink Floyd * Wiley Wiggins as Mitch Kramer * Rory Cochrane as Ron Slater * Sasha Jenson as Don Dawson * Michelle Burke as Jodi Kramer * Christine Harnos as Kaye Faulkner Adam Goldberg as Mike Newhouse * Anthony Rapp as Tony Olson * Matthew McConaughey as David Wooderson * Marissa Ribisi as Cynthia Dunn Starring * Jason O. Smith as Melvin Spivey * Shawn Andrews as Kevin Pickford * Cole Hauser as Benny ODonnell * Milla Jovovich as Michelle Burroughs * Joey Lauren Adams as Simone Kerr * Christin Hinojosa as Sabrina Davis * Ben Affleck as Fred OBannion * Parker Pose y as Darla Marks * Deena Martin as Shavonne Wright * Nicky Katt as Clint Bruno * Esteban Powell as Carl Burnett * Renee Zellweger as Nesi White Awards course Result Award Category/Recipient(s) 1993 Nominated Golden Leopard Richard Linklater 994 Nominated Young Artist Award Best Youth Actor Co-Starring in a doing Picture Drama Jason London Rating (R) Running time 102 minutes Other Law agree In October 2004, three of Linklaters former classmates from Huntsville High School, whose surnames are Wooderson, Slater, and Floyd, filed a defamation lawsuit against Linklater, claiming to be the basis for the similarly named characters on the film. The lawsuit was filed in New Mexico rather than Texas because New Mexico has a longer statute of limitations. The suit was subsequently dismissed

The Recruitment and Selection Process

The Recruitment and excerpt ProcessAccording to Trevor Bolton (1997) en tilt is concerned with the production of the definitions of a rent out ( art descriptions and somebodynel specifications) and similarly with attracting the interest of suitably qualified preemptdidates in the va arouset position. Recruitment can be defined as a address of attracting individuals on a timely basis, in sufficient total and with appropriate qualifications and attitudes and encouraging them to hope for cheats in the physical compositions (Armstrong, 1999). Further more, as per Snell and Bohlander (2007), enlisting is described as the bidding of mess say-so individuals who might join an organisation and encouraging them to apply for existing or anticipated hire out initiatives. Similarly, Noe et al (2008) support that recruitment is the practice or activity carried out by the organisation with the primary purpose of identifying and attracting emf employees.On the other hand, Dave Bartra m (2000), in his instruct Internet Recruitment and Selection kiss frogs to find princes contradicted that recruitment filters the numbers of applicants down by selecting out those who fail to meet key criteria and that tradition each(prenominal)y, recruitment has been required in order to reduce the numbers of applicants to a practical size for the more formal and more choice-intensive select-in assessments (interviews, psychometric tests, assessment pennyres exercises, etc).Barber (1998) points out that recruitment is an important part of Human alternative management as it performs the essential function of drawing an important resource-human capital into the organisation. Lievens et al (2002) asserted that the war for talent meant that the emphasis in organisations moved from the alternative to the attraction of employees, and the labour trade. Re lookup by HR prospects (2003) found that recruitment was the second highest priority for HR practitioners (after absence manageme nt). Nonetheless, some researchers and practitioners recognise that the recruitment process is complex in reputation, mediated by organisational, legislative, social and political requirements and expectations (Courtis, 1994 Hinton, 2000 et al) with a multiple number of stages, activities and characteristics (Barber, 1998 Breaugh, 1992 et al). The major criticism has been the attempt by researchers and practitioners to render the participants, the nation and the organisation as objects that ar controllable and manageable units when applied to rational and scientific methods (Hilton, 2000 et al). Gatewood et al (1993) acknowledge that recruitment is a more complex invention that is influenced by the job choice process of applicants in terms of the series of decisions made about which jobs and organisations to pursue for future employment.2.1.1.1 Recruitment PoliciesTrevor Bolton (1997) proposes that policies for recruitment should be appeal effective, be consistent with the wide r public relations aim of the organisation as it is important to remember that potential employees are as well as actual or potential customers and finally should non discriminate against people on the basis of sex, race, age, physical disability or religion. Again, Noe et al (2003) validates that the key policies of recruitment are attracting a group of potential candidates for existing vacancies, ensuring that fair room and processes are accustomd for all recruitment activities and all recruitment activities should contrisolelye to organisations goals and objectives and thus project a affirmatory organisational image to those who come in contact with it.2.1.1.2 Recruitment ProcessPeter Stimpson (2005) described the recruitment process into the following stepsestablish the precise nature of the job vacancy and draw up a job description (or specification)draw up a person specification, that is, the type of qualities and skills being looked for in fitting applicantsdevise a jo b advertisement reflecting the requirements of the job and the personal qualities looked for.Once the applications suck up been received, the plectron process can begin.2.1.2 SelectionArmstrong (1999) defines selection as the process of choosing from a group of applicants the best suited individual. Also, Dave Bartram (2000) supports that in the selection process there are various forms of assessments that are used to select those candidates with the best potential for success in the job. Snell and Bohlander (2007) state that selection is the process of choosing individuals who invite relevant qualifications to fill existing or projected job openings. In simple terms, selection involves choosing the best applicant to fill a position (Grobler, 2006 et al).2.1.3 The Recruitment and Selection ProcessIdeally, the recruitment and selection process is intended to identify prospective employees who depart fit well with the hiring organisation. Clark (1992) points out that even a small number of forgetful staffing decisions can have significant impact upon the goals of the organisation and hence, the Recruitment and Selection process in the Human Resource Management should be efficient. Furthermore, Sheila Rioux and Paul Bernthal (2001) found that better Recruitment and Selection strategies result in improved organisation outcomes. However, it is a complex and expensive process (Sohel Ahmad and Roger G. Schroeder, 2002). Ndunuju Adiele (2009) agrees that the most important job of a HR person is the selection and hiring/recruitment of employees. He also stated that it cannot be faulted that the success of any firm depends on the quality of human resources or talents in that firm and this is why it is very important for any HR expert to be very sure of hiring the right staff without compromising anything from the onset. The more effectively organisations recruit and select candidates, the more likely they are to take away and retain satisfied employees.In their study Recruitment and Selection Process in HRM- A case of Bangladesh Open University, MD. Abu Taher and Kamrul Arefin (2000) concern that because of the high cost of poor Recruitment and Selection, if an organisation fails to select the right person, it has to suffer as desire as those persons stay in the organisation, even if the quality of service is strongly influenced by the Recruitment and Selection Process in the organisation.2.1.3.1 Employee Recruitment and Selection process Flow Chart (Figure 1, Appendix I)Optimal match of employee talents with organisational needsPerformance judgementTrainingPlacementOrientationInitial ScreeningRecruitmentSelectionHuman resource planningFeedback regarding onetime(prenominal) and present job performance supervisor/subordinate plans for the futureCompetence to perform present or future job requirementsUnderstanding of company/ departmental policies, procedures and benefitsNew employeesCognitive, work sample, or situational tests, constit ution inventories, polygraphsA smaller pool of qualified candidatesRecommendations, reference checks, application blanks, interviewsSpecification of human resource requirementsA pool of qualified candidatesPlanning, operations, controlJob abbreviationProductsActivitiesStepSource Wayne F. Casino, 1998 Figure 1.2.2 E-Recruitment2.2.1 Evolution of HRM and the lucre2.2.1.1 Internet as a recruiting toolEdgeley (1995) alleged that the future of recruitment is on the net and it is the lucre which will bring radical change to corporate recruiting. This claim proved to be true when Kerschbaumer (2000) agreed that it took more than 30 years for radio as a medium to chance upon 50 million of listeners, and the profits reached 50 millions of users within 5 years. Online recruitment has indeed grown rapidly over the past 10 years and now it is used to a greater extent all over the world by both recruiters and job chew the fatkers (Capelli, 2001). The net profit showtime emerged as a recr uiting tool in the mid-1990s and was named as recruiting evolution by the media due the benefits it could bring to recruiters (Boydell, 2002). Bush et al (2002) supports that the adoption of the web as a medium has been faster than any other medium in history. In concomitant, Crispin and Mehler (2006) found that 20 per cent external hires were from corporate sites and another 13 per cent were from jobs boards. Also, in the UK, it was found that two third of the organisations in 2004 used job boards (independent websites which are used to match multiple recruiters to job applicants typically through recruiter advertisements).2.2.1.2 deracination from traditional way of recruiting and selecting to clean wayFrom relevant literature, the traditional recruitment method is the way that a company announce a job opening to the market interpose through classified advertisement, an executive recruiter, a job fair or other media (Othman Musa, 2006). Web-based technology which has a number of hiring activities can effectively streamline hiring processes by making them faster, more efficient, and less costly. Timeliness is critical to both the candidate and the organisation and unnecessary delays while paper is being routed or data being entered into numerous systems are clearly targets for improvement for the process (A. Walker, 2001). Good candidates are lost by unnecessary delays. In terms of HRM, the internet has changed recruitment from both an organisational and a job seekers point of view (Feldman, 2002, Epstein, 2003, Warner, et al 2005). Traditional recruitment processes are known as being time-consuming with long hiring cycle times, high cost per process and minimal reach to job seekers (Lee, 2005).In his article Training and human resource issues in small e-business towards a research agenda, Harry Matlay (2004) drew the same conclusion and argued that in the early 1990, ICT and the internet began impacting on organisational growth, development and competi tiveness at both micro- and macro-economic levels and as more and more customers and suppliers began to use the internet, the speed, direction and emphasis on strategic change and competitive drive cracked from traditional trade to online business transactions taking place within a fast growing and rapidly expanding digital economy.2.2.1.3 Factors contributing to shiftRapid introduction of the internet into the recruitment process can in the main be attributed to the Internets unique communication capabilities which allow for written communication (e-mails and documents) to be transmitted for a second for organisations and individuals websites to be irritateed at the click of a swipe and for real-time conversations (print, audio and visual) to be conducted rapidly (Wyld, Bingham et al, 1997). Similarly, Ulrich (1997) concurs that an emerging HR practice area that will require investment of time, talent and resources needs technology which can jockstrap in trim down the tension between strategic and administrative role and can remove part of the administrative responsibility. Furthermore, as per Sharon Hill (2001) the factors fundament recruiting via the internet as low cost, reach, speed, ease, coverage and products and services for example, study databases, online applications, banners, profiles etc.Empirical studies also have helped enormously in finding the factors contributing to the shift from traditional way of recruiting people to new way. For example, David Pollitt (2007), stated in his article Superdrug prescribes e-recruitment to improve talent management, that the HRM manager of the health and beauty retailer Superdrug claimed that it is essential that their recruitment process is as fast and efficient as possible and the launch of their lifes websites helped them largely to quickly and efficiently process large numbers of applications and thus reducing the administrative burden of processing CVs. Moreover, M. Voermans and M. Van Veldhoven (2007) in their study about Attitude towards E-HRM an empirical study at Philips alleges that nowadays companies can seek the possibilities to draw off HR operations more efficiently due to the swift development of electronic HR systems. Through internet, communication is quick, easy and cheap and it can reach on a local, national and international scale. In addition, Graeme Martin and Martin Reddington (2009) Reconceptualising absorptive capacity to explain the e-enablement of the HR function (e-HR) in organisations validates that HR can claim to help create competitive advantage and align the function of creating added value for managers and employees through efficient training flows by reducing HR transaction costs and head count for example, supplying HR information to a large number of people virtually and help in delivering e-training and e-learning to a large number of people.2.2.2 Online RecruitmentE-recruitment, also known within the literature as online recruitment, Inte rnet recruiting or cybercruiting refers to posting vacancies on the corporate web site or on an online recruitment vendors website, and allowing applicants to sling their resumes electronically via e-mail or in some electronic format (Galanaki, 2002). Similarly, Lievens and Harris (2003) et al define online recruitment as any method of attracting applicants to apply a job that relies heavily on internet. Furthermore, online recruitment is the method of matching job seekers to employers that has emerged over the last few years, and is growing quickly than any other means (Cooper Robertson, 2003). Therefore it can be summarized that e-recruitment is the use of technology to assist the recruitment process where job vacancies are advertised through world-wide web.Whilst e-recruitment is contended a relatively new concept for umpteen organisations, articles on the topic first started appearing in the mid-1980s (Casper, 1985 Gentner 1984). However, it wasnt until almost a decade later in the mid-1990s that more systematic and austere literature and research on e-recruitment began to appear in human resource journals (E.R. Marr, 2007). The rise in the amount of literature in e-recruitment was initially attributed to the sudden cast up in the use of online recruitment by IT companies and universities (Galanaki, 2002).Types of E-RecruitmentA number of means has led to the step-up in the use of the internet as a recruitment source. The three most common means identified by the Chartered Institute of Personnel and Development (CIPD, 1999), cited in the article by Galanaki (2002) are Firstly, the addition of recruitment pages to the organisations existing website. (As indicated by Lee (2005), this avenue is becoming increasingly common primarily as a result of rising costs and rigidity of using other e-recruitment means and traditional media). Secondly, there is the use of specialised recruitment websites which act as a medium between organisations and potential a pplicants such(prenominal) as online job boards, job portals, job agencies and online recruiters and finally the use of media sites which involves placing an advertisement in a more traditional media such as newspaper which also has its own website and posts the same advertisement simultaneously in the website, usually for free.Similarly, Preetam Kaushik (2010) in his article E-Recruitment Trends Internet and the Recruitment Process agrees that E-recruitments are generally done in two different ways. For example, post the company profile and the job specifications on one of the many available job portals and also search the portal to see if any suitable resumes are on the site or alternate is to create an online recruitment page on the companys own website where job seekers can learn their resumes which will get added to the database of the organization for future consideration.Criteria for effective E-RecruitmentArundhati Ghosh (2005) E- Recruitment The Recent Trend of Recruitment Practices points out that in order to have an effective online recruitment, the organizations should be concerned about various factors such as Return on Investment which should be calculated to compare the costs and risks, the recruitment policy which has to be flexible and proactive to adapt market changes, unemployment rate as the whole process depends on the availability of candidates in the market and for every post, position it is not viable to spend too much of time because these rates will determine whether to be stringent or lenient, the impact of supplying compensation expatiate that are the wage, salary, benefits as compensation rate of the company not scarcely reaches to the candidates but will be known to all, the words that discriminates gender, age, religion and so on have to be avoided, and finally they need to be selective while choosing the sites because when special skill candidates are searched then generic job search sites have to be avoided.2.3 Advantages an d disadvantages of E-Recruitment2.3.1 Perceived AdvantagesGiven that the average job hunters spend more or less six to eleven hours each week searching and pursuing suitable positions, the tractability of the internet is extremely attractive as a means of sourcing jobs (Farris Dumans, 1999). Also, the internet acts as a database of information for organisations, including information pertaining to potential applicants, if organisations know how to find and use it (Gutmacher and Leonard, 2000). According to Gutmacher (2000), Galanaki (2002) et al (2004), the biggest perceived advantage of internet recruiting is that individuals can quickly and easily access information in a wide range of job opportunities twenty-fours a day, seven days a week, reducing the need for employees to actively job hunt whilst performing current job duties, thereby minimising the visibility of the job search. They also further identified that online advertising helps in attracting the interest of high qua lity people, also known as passive job seekers, who are not actively searching for a job. The information can be passed through friends or collegues who are engaged in online social networking. Feldman and Klaas (2002) also claim that internet is a useful location to generate information on a wide array of industries, companies and search variables including the geographic location, job type or industry type, the remuneration and all when looking for jobs. Furthermore, Bingham et al (2002), Epstein et al (2003) and McCurry (2005) validates that the internet has been classified as an interactive source which helps to engage applicants by providing pertinent and more in-depth information about the job and the organisation through links to tesmonials and employment benefits sites.For organisations, online recruitment provides an opportunity for jobs to be advertised in global, local or niche markets, presenting the tractableness for recruiters to adapt the source to target an identif ied job market, or allowing for a brand scope of potential applicants by opening the job to the global market (Smith, 2005). Another advantage is that there is a reduction in the time for recruitment as organisations are able to source and process applications round the quantify compared to traditional sources (Lee, 2005).Last but not the least, in his article Internet Recruitment, Radcliff (2000) mentions that it is easier for applicants to search for job vacancies and apply online rather than going through newspapers and submitting hard re-create resumes to companies. As for Erica Marr (2007) E-Recruitment The effectiveness of the internet as a recruitment source, she points out that another advantage cited in the literature on e-recruitment is the reduced costs associated with internet advertising compared to print advertising where the size of the advertisement and the publication itself impacts in the cost of posting the advertisement. She also alleges that more people get ac cess to the internet nowadays and consequently there are a limited number of people who bother to read advertisements in newspapers.2.3.2 Perceived DisadvantagesAs with all recruitment sources, there are not only unique advantages related to the medium, but there are also a number of shortages identified by a number of authors (Capelli 2001, Feldman et al 2002). Of major concern is the perception that the internet will generate a high quantity of applications. Screening and checking the skill affair and authenticity of millions of resumes is a problem and time consuming exercise (Carlson, Dessler, Chyna et al, 2002). Moreover, it takes less effort and fewer costs for applicants to store their rsum electronically and apply for a job online. Consequently organisations will be receiving a greater number of applications and as a result there will be an increase in costs of administering more in the recruitment and selections systems (Gutmacher 2000, and Smith et al 2004).Austin Texas ( 2001) in his article Impact of the internet on the recruitment of mean labour mentions that one of the disadvantages of online recruitment is that there may be low internet penetration and lack of awareness of internet in some outdoor(a) locations.Galanaki (2002) The decision to recruit online A descriptive study argues that some large organisations have already found it necessary to officially dedicate one or more recruiters to focus all of their time exclusively to internet recruitment due to the extra time and effort needed for implementation. Referring to CIPD (1999), Galanaki (2002) also noted that many organisations lack the resources or the expertise needed to achieve an integrated e-recruitment process. They have to be ready to deal with the relevant IT tools such as search engines, databases, CV-screening and to take over a whole change management effort in order to get the employees familiar with the implementation of the necessary tools. Another disadvantage highlighte d in the article is that for the majority of job seekers, internet still is not the first option as organisations cannot be dependant solely and totally on the online recruitment methods.Furthermore, the study about E-HR at KPN conducted by David Pollitt (2006) adds that not all companies find it easy to move to e-recruitment. This is because the technology, the processes and the people capability have to be managed simultaneously and the risk that companies display case is that HR managers, trying to pay more attention to get the technology right, sometimes give less importance to the processes and the employees. Therefore, there is a need to consider the new system first, prepare the workforce and then embrace the new technology to avoid unplanned circumstances. Another urgent need is to ensure that the organisations fourth-year managers back the changes.Finally, in her article Careers and Employment, Kristian Keefer (2009) sums up the disadvantages as a company which is hiring online will not have the ability to meet the individual applicants in person before recruiting them employers might receive the positive impression of someone who ends up not being the best choice for the job a perfect resume might be received but after contacting the person concerned, the employer may be disappointed if the applicant does not show any interest in the job. This is a waste of time and money.2.4 Success of E-RecruitmentAs per D. B. Morin (2000) there are approximately 700 million people using the consumer internet and one of the most usages of the internet is to conduct online job searches, and one of the most searched-on key words is jobs. In short, the internet is fundamentally changing the way the recruitment industry is operating and it can be an extremely effective tool for hiring. Therefore, D. B. Morin (2000) has devised two ways to ensure successful internet recruitment.First and foremost, there is a need to build a recruitment centre within the companys own w ebsite. Logically, candidates will first look for jobs on the companys website if they are interested to work in that particular organisation. As a result, they should be able to have access to all the information about the company immediately. However, before adopting this method of recruitment, there are some issues which may have to be taken into consideration. For example, it should be made easy for prospective candidates to find recruitment area. Many online job applications are submitted by passive job seekers, that is, individuals who are not actively seeking a career change, but are intrigued enough by an individual job offer to apply. A conspicuous recruitment area will draw these passive job seekers in. Also, an efficient method of collecting job applications (i.e. will candidates email their rsums or do you plan to build an online rsum builder) can be established. Finally, we have to ensure that there are the resources to provide prompt responses to enquiries and applicat ions. With close to a billion users online, one good job advertisement could potentially swamp an entire HR department. As technology continues to evolve, there is an ever-increasing array of resume sift software available.Secondly, we should advertise in websites. According to D. B. Morin (2000), there has been literally an explosion of online career centres, job guides, and recruiting services and there are now over 33,000 career specific websites on the Internet. The primary advantage to advertising our open positions on one or more recruitment websites is our extreme popularity with job seekers. If we are considering placing ads on the Internet, there are a few points to consider when evaluating sites such as does the site target candidates with a high likelihood of appropriate qualification? Is navigating around the site uncomplicated? Is the site professional and is it aligned with our companys image? How are postings added to the database and how often can you update or dele te your listing? Or how many visits does the site get weekly and monthly? With such a plethora of job sites on the internet now, organisations need to position their job advertisements where they will gain the most exposure to the most appropriate audiences.Just as there is no one way to recruit, similarly there is no one place to list jobs. Organisations need to employ a combination of recruitment strategies, services and resources to position their job advertisements effectively. By limiting the companys recruiting efforts to the Internet, many key applicants could be missed for jobs opportunities. For instance, in a study conducted by Drake Beam Morin (2000), the Internet provided sources for new jobs in only 4% of cases, compared to networking which produced opportunities in 64% of cases studied. The key element to consider for online recruitment is where qualified applicants would most likely look for open positions. Once that is determined, a media plan including a mannequin of targeted venues can be thoroughly constructed and evaluated.2.5 ConclusionFrom the relevant literature, there is an argument that e-recruitment is needed to be used in conjunction with other techniques. Caggiano (1999) and Borck (2000) argue that Internet-based recruiting will not replace traditional practices, but a well-implemented e-recruitment strategy can help the recruitment process become more successful. Internet recruiting should be only one of many tools used to find and recruit applicants. Similarly, Pearce Tuten (2001) pointed out that although the employers see the advantages of e-recruitment, they continued to use traditional methods such as newspaper ads, personal referrals, and search agencies for most of their recruiting. Employer viewed the Internet as an important additional tool.Cullen (2001) also supports that e-recruitment is not treated as a stand-alone human resource tool but is integrated into an overall recruiting and selection strategy that includes, a mong other things, sophisticated behavioral and skills assessment, interviewing, and additional means of identifying needs and sourcing candidates. Previous studies show that a human resource department still uses both traditional method and e-recruitment in recruiting process. More than 75% of HR professionals are now using Internet job boards in addition to traditional recruiting method (HR Portal, 2003).

Share Repurchase and Taxation among UK Companies

Sh argon Repurchase and Taxation among UK CompaniesThe aim of the enquiry project is to examine the blood amidst contribution salvation and revenue enhancement revenue in the UK companies.Project ObjectivesTo examine the motivations of appoint repurchase in the United Kingdom.To analyze the recent trend in deal repurchases over last 20 decades among UK companies.To explore the relationship betwixt cares repurchase with tax income in the UK companies.To explore the impacts of taxation on lendress repurchase legal action for UK companiesContextFor decades, most of the corpo symmetryns are preferred to pay out cash in the form of dividends earlier than dish out repurchases, despite the relative tax usefulness of capital gains over ordinary income. In some countries, such as U.S. and UK, companies can buy back their own dole outs in the stock market, in any case know as a overlap repurchase. In the last 20 decades, share buybacks become extremely reality in the Uni ted States. According to aggregate info from Compustat, companies inform share repurchases incr quietusd from 4.8 percent in 1980 to 41.8 percent in 2000, while dividends only if grew at an average annual rate of 6.8 percent (Grullon Ikenberry, 2002). Researchers also found that during 1985 to 1999, corporations in the U.S. announced intentions to repurchase about $750 billion of stock (Vermaelen Rau, 2002). Moreover, studies show that from 1999 to 2000, industrial firms spent more money on share repurchases than on dividend pay out, and that is the first in history, share repurchases programs curb become more popular than dividends (Grullon Ikenberry, 2002).What are the reasons for the companies buy back their own shares. Jensen (1986) pointed that firms repurchase stock to fan out excess cash flow. A share repurchase distributes cash to existing shareholders in exchange for a fraction of the firms outstanding equity. This hypothesis has been supported by Stephens and Weisb achs (1998) study. They found share buy backs have a validating relationship with the level of corporation cash flow. Moreover, they also found a negative relationship amidst share repurchase and prior stock returns, which means, firm repurchase when their share prices are undervalued in stock market. This theory has been supported by Vermaelens (1981) study. He found that firms repurchase stock when they are undervalued and have the excess cash to distribution. In later studies, researchers pointed that firms may repurchase stock to increase their leverage ratio (Opler and Titman, 1996).For the tax perspectives, researchers pointed that tax changes have a major impact on share repurchase. In the UK, companies are sensitive to tax environmental changes. For example, studies shows that in 1994, in that location were significant increase in the number of unsolved-market stock repurchase programs. This cause by the introduction of tax favored agency share repurchases programs (Ve rmaelen Rau, 2002). But in 1996, when the tax credit given to tax exempt pension funds in agency buybacks was abolished, the number of the companies announced share repurchase fell significantly. However, in 1997, when all tax credits were abolished, share repurchase became popular again.As some evidence showing above, share repurchase become more popular than any time in the history. Researchers stated that the majority of companies start to use cash payouts to shareholders through share buybacks rather than cash dividend (Grullon Michaely, 2002). thitherfore, it is pregnant to better visualize the motivation behind the recent surge in share repurchase activity. Although, share buy backs growing popularity, most of the established studies focus on the U.S. firms. Whether the share buybacks in UK as popular as in the U.S., because the divergent of tax and regulation systems between this two countries. The aim of the research will not only enhance our understanding of corporatio n pay out policy but also examine the share repurchases programs under UK taxation system and how this impacts effect on UK companies payout strategies.Moreover, the reason for me to focus on the UK companies rather than other EU companies because on that point have lacks of share repurchase activities in Europe countries. According to the Securities entropy federation (SDC) reports shows that during 1980 to 1998, there were only 489 stock buybacks announcements made by European companies. And nearly 60% of those announcements were made by the UK companies. There have various reasons for the lack of share buy back activities in EU companies. Firstly, share repurchase is still illegal in some European countries, such as France and Germany. Secondly, some countries proposed unique(predicate) tax provisions to discourage share buy backs. For example, in Netherland have the high taxes on dividends and low taxes on capital gains. Thirdly, the share repurchase do not fit European hig h society culture. Traditionally, most European companies focus on maximizing stakeholders value rather than shareholders value (Vermaelen Rau, 2002). Moreover, in European countries the stakeholders (such as managers, banks) prefer to maximize the size of the companies rather than focus on stock prices. They are not interested in share repurchase. Finally, there are myopic relative studies examine the relationship between share repurchase and taxation with UK companies.Literature Review4.1 IntroductionThis search focuses on share repurchase and taxation among UK companies. Bibliographic entropybase used were Business Source Premier (EBSCO), Econo Lit with Full Text (EBSCO), JSTOR Business, Psyc ARTICLES (CSA), Science Direct and Swets Wise. The details of these and full text database were searched in mesa 1. The total numbers of retrieved articles were 30. Keywords used were dividend, share repurchase, buybacks, payout policy, dividend policy, taxation and regulation with limite d to academic journals and non-academic articles on the last 20 years.4.2 Motivations of share buy backsThere are number of reasons a firm repurchase stock. First, Share repurchase could improve the retained profits. Because when companies purchase their own shares, the remaining number of shares left in the public will lower. The reduction of shares in the public means the earning per share will increase even the profits remain the same. So when companys share price undervalued, repurchasing shares may still result in a strong return on investment.Secondly, firms may use share repurchase announcements to signal the market that their shares are undervalued and the positive stock price reaction at the announcement of share repurchase should correct the misevaluations (Dann, 1981 Vermaelen, 1981). However, Ikenberry, Lakonishok, and Vermaelen (1995) argued that this increase may not be sufficient to correct the misevaluations, curiously in the open market share repurchase- programs. According to Stephens and Weisbachs (1998) study, they investigated on 450 open-market share repurchase programs in the U.S. between 1981 and 1990. They found that between 74% and 82% of the shares targeted at the time of announcement are later repurchased and this actual share buybacks are negatively associate to stock price performance after the stock repurchase.Thirdly, share repurchase may increase the leverage ratio. The leverage ratio will increase when a firm distributes its capital. Therefore, assuming that an optimal leverage ratio exists, a firm may more likely to buy back their own shares when their leverage ration is below the target ratios (Bagwell Shoven, 1988).Fourthly, companies where there are few opportunities for growth, share repurchase may the possible way to improve the earning per share in order to meet executives or managers targets. Thus, companies structures may affect their decisions to buy back own shares.Finally, share repurchase fasten a takeover mor e expensive. Because share buybacks avoid the accumulated standard of cash in the firm, when a firm with a strong cash position but guides limited spending on capital will accumulate cash on balance sheet, therefore, it make the firm more attractive for takeover.However, recent studies shown share repurchases are only benefit shareholders wealth in the short term, but do not add any long term value to the company (Guay and Harford, 2000). Eberhart and Siddique (2003) did a survey based on 7,079 share repurchase programs between 1981 and 1995. The results showed that after the share buybacks, there were a slightly increase in the number of share outstanding. Often the share purchases in the share buybacks programs are used for employee stock options and stock grants. As one article suggested, share repurchases in general are just backdoor compensation? for company employees (Henry, 200674).4.3 Taxation with share repurchasesTax changes have a major impact on share repurchase. Study shows that in 1994, there were significant increases in the number of open-market stock repurchasing programs cause by the introduction of tax-favored agency share repurchase programs (Vermaelen Rau, 2002). Grullon and Michaely (2000) also find that the differential tax between capital gains and dividends is a significant determinant of the market reaction to share repurchase announcement. Grullon and Michaely (2002) pointed that in the U.S., corporations start to substitute share repurchases for dividends because capital gains are taxed at more favorable rates than ordinary income. They found that even in 1986, the Tax remedy Act greatly reduced the relative tax advantage of capital gains, but there was still a significant positive difference between the marginal rate on ordinary income and the marginal rate on capital gains.Raghavendra and Vermaelen (2002) studied on the relationship between taxation and share buybacks among the UK companies. In their studies, the result showed that buyback activity increased significantly when the agency buybacks introduced during 1990 to 1998 in the UK. This consistent with the hypothesis that taxation has a significant effect on share buybacks. Moreover, they also pointed that the ability of pension fund to recover dividend credits has a major impact on the buyback activity in the UK (Raghavendra and Vermaelen, 2002).However, some researchers have argued that taxes alone do not explain the extent of repurchases activity in the U.S. Brav at al (2005) stated that managers view tax considerations as of second distinguished factor in the choice if disbursement mechanism. Ikenberry et al (2004) suggested that since the tax changed in 2003 in the U.S., the dividend had increased significantly. He also pointed that although dividends in the U.S. remain slightly tax disadvantages, that due to the delay of the capital gains by the investors.However, based on the results from research conducted in the U.S., the extent to whethe r the taxation dominant the managers decisions announce share repurchase rather than dividends is still an unresolved do it.4.4 Regulation framework in the UKIn order to better understanding the effect between taxation and share repurchase among the UK. It is important to develop our knowledge in the legal and tax frameworks governing U.K. share buybacks, moreover, to recognize the difference between these frameworks and those in the U.S.In The UK, share buybacks allow the company to manipulate its stock price. In order to avoid the share repurchase reduce creditors benefits, the Companies Act states that only distributable profits or the proceeds of fresh issue of share can be used to finance the purchase. Moreover, the companies are not allowed to announce share repurchase programs during the period when directors are not allowed to trade in their companys shares. This means that in the UK, share repurchases are not allowed in the 2 month period preceding the publication of annua l earnings. Finally, compare with the U.S., in the UK, share repurchase are much less flexible tool for capital management. All the firms buy-backed shares may ask to cancelled, because the UK regulators more concerned about the preemption rights of shareholders (Vermaelen Rau, 2002). non like in the U.S., the regulators more concern about the treasury stock?, such as repurchased shares can be re-issued without shareholder approval (Vermaelen Rau, 2002).ConclusionThere are various reasons for firms to announced share repurchase, although share buyback activity become extremely popular in the U.S., but the UK repurchase scene is different from the U.S. scene in many respects. Although the UK is the European country where buybacks are most popular, but it is still relatively small numbers of share repurchase programs announced compare with the U.S., where about 100 U.S. firms announce open-market share buybacks each month. However, the UK taxation system may make share repurchase l ess attractive than they are in the United Stated. What the impact of taxation system on share repurchase announcement among UK companies? How these impacts affect UK companies in last 20 years? Which persistence is more likely to announce share repurchase program? The proposed research will review the potential relationship between taxation and share repurchase among UK companies.5 Research Method5.1 Desk Based ResearchThe desk based research used to my study. Because desk based research is very useful to get a all-encompassing understanding of the topics and is relatively easy to use (Bryman and Bell, 2003). The data usually used in desk based research is referred to as junior-grade and includes collecting information from trinity party sources such as company website, magazine articles, books, journals, published statistics and marketing research reports (Collis Hussey, 2003). There are many advantages to using secondary research. This includes the relative ease of access to many sources of secondary data with little or no cost to acquire. The use of secondary research may help researcher to crystalise the research question and help align the focus of large scale primary research. However, there are also some disadvantages of using secondary research. Sometimes, secondary data may not presented in a form that exactly meets the researchers need and the research may not get the full details of the research to gain the full value of the study. Moreover, with companies competing in fast moving industries, the secondary research may out of date have little or no relevance to the current market situation.5.2 Reasons of using Desk Based ResearchThere are several reasons for me use desk based research. First, there is a tremendous amount of literature available, but limited studies focus on the taxation and share repurchase among UK companies. Therefore, the desk based research may help me to limit the articles to focus on my research topics. Second, the desk based research may possible to obtain companies annual report and account from companies websites. Because the UK Companies Act (2006) requires all quoted companies to publish their annual reports available on their website. (CA S430). Finally, in order to explore the relationship between taxation and share repurchase among UK over 20 years. The specific data need to be obtained, such as market-to-book ratio, return in capital employed, equity to debt ratio, market value.All of that information could obtain through on-line data base, such as Data Stream, which can be used in Aston Universitys library.However, some of the information may out of date or the results may not be directly related to UK companies situation. And the amounts of information available may be very limited. Also, due to the lack of study on relationship between taxation and share buybacks under UK taxation system, it is difficult to find sufficient sources from limited useful information.5.3 Sample Section and Analysis MethodThe company shares repurchase announcement information been collected between 1 January 1999 and 31 December 2009. The information obtained from various ways, including London Stock Exchange (LSE) online service, UK-wire Company Announcement service, news articles from the Financial Times. The independent variables of stock returns and data have been provided by DataStream.Moreover, the data and sample had to satisfy the following criteriaThe repurchase must exclusively be ordinary sharesThe firms is citeed in the UKRepurchases announced during the last can of 2001 are excluded to dampen the volatility effects of 11 September 2001.Only the first announcement of share repurchase programme is included.The sample includes all open market share repurchases, private repurchasesDescriptive statistics of the repurchases and independent variables used in this study to summarize and organize the companies repurchase data. Then, the main tax regimes divided into quatern equa l periods during the sample period. The repurchases announcement data will be analyzed into the four tax periods. The correlation matrix on the variables will be ask to analyze whether there is the correlation between companys stock returns and share repurchase. Finally, the result will be interpreted and presented.Ethical issuesThe following ethical issues will be conducted with this researchRecode the data and results accuratelyFollow the Aston University rules on plagiarismDescribe and discuss the research result objectively lying-in ListTaskProblemsSolutionsObtain journals and literatures about firms dividend policies, share repurchase and taxationTremendous amount of literature need to reviewedLimit search to articles that study on share repurchase within UK companiesObtain the information about the firms announced share repurchase programs within the UK for last 20 yearsRelatively small data need collect from numerous informationLimit the research to companies announced share buybacks listed by data stream between 1989 and 2009 in the UKCreate a list of relative UK companiesWhich company should includeThe company announced share repurchase over millionObtain the information about taxation and regulation changes over last 20 years in the UKA lot literatures need to reviewedLimit search to articles about taxation and regulation changes in last 20 yearsFind the impact of taxation change for share repurchases activityA limit studies/result on this area, especially for UK companies.Analyze the data on my own, use the statistical methods to explore the relationship between taxation and firms payout policies.Write up reportEasy to exceed 15000 word limitWork with supervisory program to only include the most relevant informationReview the dissertation before the submit itEasy to make some grammar, spelling mistakes.Ask my ace read it, see whether the dissertation make sense for them. Help me to find the grammar mistake.