netrashetty
Netra Shetty
The Boston Scientific Corporation (NYSE: BSX) (abbreviated BSC), is a worldwide developer, manufacturer and marketer of medical devices whose products are used in a range of interventional medical specialties, including interventional cardiology, peripheral interventions, neuromodulation, neurovascular intervention, electrophysiology, cardiac surgery, vascular surgery, endoscopy, oncology, urology and gynecology.
Boston Scientific is well known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries. This product was at the center of a claim of patent infringement on the part of Boston Scientific, which was found liable for $431 million in damages.[1]
Boston Scientific's main competitors are Johnson & Johnson, Medtronic, and St. Jude Medical. The company recently acquired longtime competitor Guidant for approximately $27 billion. The former Guidant was split between BSC and Abbott Laboratories. [2] [3]
Navilyst Medical was formed in February 2008 from Boston Scientific's Fluid Management and Vascular Access business units. [4]
Beginning in 2003, Johnson & Johnson and Boston Scientific have been involved in a series of litigation involving patents covering heart stent medical devices. Both parties claimed that the other had infringed upon their patents. The litigation was settled once Boston Scientific agreed to pay $716 million to J&J in September 2009 and an additional $1.73 billion in February 2010
Demand forcast means that predicting how many employee an orgainazation will need in future. The methods which used are following:
statistical methods
Judgmental analysis
Ratio analysis
Regression analysis
NIB bank limited used statistical software in which through pi diagram mostly identified the demand and number of employees needed. Both ratio analysis and regression analysis are aspects of human resource management systems (HRIS) or (HRMS ) packages, and therefore provide more accurate and timely forecasts. This forcast have shows qunatitive and qualitative needed of future employees.
1.2 Predicting/ forcasting Supply of employee:
Forcast supply of employee means that in future what factors through which number of emplyees increase or decrease in a particular department. In NIB bank limited have following are the factors:
Retirement
Transfer in or out
Sabbatical (long leaves)
Contigent employees
Illness
Deaths
New hires
Resignation
1.3 Matching future demand of emloyee and future supply of emloyee:
HRM department of NIB bank limited match future demad of employee and future supply of employee if there is a gap HRM department moved towards recuritment and also for current employee.
Mostly HRM department have done recuritment process there is almost less chances that bank have no gap or less gap b/w future demand of employee and future supply of employee.
2. Recruiting:
Recruiting is the part of staffing. It define as,
“Process of discovering potential candidates for actual or estimated organization vacanies”
HRM department of NIB bank limited have not done too much recruiting efforts. The bank easily find out the candidate it needed. One thing more bank perform recuriting efforts only for current vacant job and it done recruiting by iteslf not with the help of other organization.
2.1 Goals of recruiting:
HRM department first goal of recruiting to communicate the vacant job to required candidate
Second goal of recruiting is provide enough information about job
2.3 Fator effect the recruiting efforts:
NIB limited bank is newly estalished since 2003 it does not big with respect to assets and liablties as compard to other banks so size of bank is small that why it does less recruiting efforts.
Unemployement rate is high in Pakistan so recruiting effort are low
Bank will have good reputation so its image will good infront of general public due to safe working conditions, personal benefits, banking services, salary we can say that Bank will increase recruiting efforts in futures
Bank have internal recruiting policy such as promote within wherever possible. The employee who show good performance can become the branch manager of bank.
2.4 Recruiting sources:
NIB bank used two source of recruiting
a. Internal search
b. External search
a. Internal search:
Internal search include referance from internal emloyees. Bank trust those employees who showed good performance, have long tenure with bank , orginaztion commitment behavior and offered them to recommend candidate of own choice matching with job requirements.
b. External search:
i. Advertisement
Newspaper (Daily Jung, Nawa-e-Waqt, The Nation, Dawn and Daily Khabrein… etc)
ii. School, colleges, universities
Bank recurit fresh students from foregin unversities and from best universities, institues of Pakistan, some names are following:
Institute of Business Administration
Lahore University of Management Sciences
Institute of Business Management
National University of Science and Technolog
Recuriting alteranatives:
Intership package
Contract workers
Contegent workers
3. Jon analysis:
The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it is called Job analysis. Job analysis is very important as job analysis information is used in Selecting and recruiting, compensation, performance evaluation, training and in resolving other issues which NIB Bank faces. The methods which are used in collecting current job analysis information are
The interview
Questionnaires
a) The Interview for job analysis:
Interview is a big source in collecting information in the job analysis. Individual employees, group of employees and supervisors with vast knowledge about jobs are interviewed. The format of interview is Structured and unstructured. In structured interview a set of sequence of questions are followed by interviewers and in unstructured type of interview the interviewer pursues points of interest as they come up in response to questions.
b) Questionnaires:
In questionnaire the employees solve the fill out questionnaires to describe their job-related duties and responsibilities. The formats of questionnaires are either structured or open ended. The following common data the HR department get after job analysis:
i) Education Requirements for Banking operations Jobs
B.Com (Bachelor’s degree in Commerce): It is one of the most basic requirements of any Banking firm.
M.Com (Master’s degree in Commerce): From any reputed and recognized college or university would be an added benefit.
CPA (Certified Public Accountant) : A CPA degree is optional but it will surely give you an edge over the other Banking operations job seekers.
Knowledge of book keeping, auditing, Banking, finance and analysis, taxation can prove to be of great help while looking for getting a Banking operations job in a reputed firm
ii) Skills needed for getting a Banking operations job:
Public Speaking: A good Banking operations professional should have strong communication as well as public speaking skills.
Mathematical aptitude: A Banking operations job seeker should also have an aptitude in Mathematics and should be able to work with figures quickly and accurately.
Risk identification skills: He or she should have extremely good analytical as well as Risk identification skills.
Knowledge of Finance: Good knowledge of Finance and the current market scenario is also a must to get a good Banking operations job.
Organizational skills: As a Banking operations job includes organizing work it is necessary to have good skills in this department.
Managerial skills: Being able to do the work is another thing but being able to get the work done from others is a skill that a Banking operations professionals should have.
Boston Scientific is well known for the development of the Taxus Stent, a drug-eluting stent which is used to open clogged arteries. This product was at the center of a claim of patent infringement on the part of Boston Scientific, which was found liable for $431 million in damages.[1]
Boston Scientific's main competitors are Johnson & Johnson, Medtronic, and St. Jude Medical. The company recently acquired longtime competitor Guidant for approximately $27 billion. The former Guidant was split between BSC and Abbott Laboratories. [2] [3]
Navilyst Medical was formed in February 2008 from Boston Scientific's Fluid Management and Vascular Access business units. [4]
Beginning in 2003, Johnson & Johnson and Boston Scientific have been involved in a series of litigation involving patents covering heart stent medical devices. Both parties claimed that the other had infringed upon their patents. The litigation was settled once Boston Scientific agreed to pay $716 million to J&J in September 2009 and an additional $1.73 billion in February 2010
Demand forcast means that predicting how many employee an orgainazation will need in future. The methods which used are following:
statistical methods
Judgmental analysis
Ratio analysis
Regression analysis
NIB bank limited used statistical software in which through pi diagram mostly identified the demand and number of employees needed. Both ratio analysis and regression analysis are aspects of human resource management systems (HRIS) or (HRMS ) packages, and therefore provide more accurate and timely forecasts. This forcast have shows qunatitive and qualitative needed of future employees.
1.2 Predicting/ forcasting Supply of employee:
Forcast supply of employee means that in future what factors through which number of emplyees increase or decrease in a particular department. In NIB bank limited have following are the factors:
Retirement
Transfer in or out
Sabbatical (long leaves)
Contigent employees
Illness
Deaths
New hires
Resignation
1.3 Matching future demand of emloyee and future supply of emloyee:
HRM department of NIB bank limited match future demad of employee and future supply of employee if there is a gap HRM department moved towards recuritment and also for current employee.
Mostly HRM department have done recuritment process there is almost less chances that bank have no gap or less gap b/w future demand of employee and future supply of employee.
2. Recruiting:
Recruiting is the part of staffing. It define as,
“Process of discovering potential candidates for actual or estimated organization vacanies”
HRM department of NIB bank limited have not done too much recruiting efforts. The bank easily find out the candidate it needed. One thing more bank perform recuriting efforts only for current vacant job and it done recruiting by iteslf not with the help of other organization.
2.1 Goals of recruiting:
HRM department first goal of recruiting to communicate the vacant job to required candidate
Second goal of recruiting is provide enough information about job
2.3 Fator effect the recruiting efforts:
NIB limited bank is newly estalished since 2003 it does not big with respect to assets and liablties as compard to other banks so size of bank is small that why it does less recruiting efforts.
Unemployement rate is high in Pakistan so recruiting effort are low
Bank will have good reputation so its image will good infront of general public due to safe working conditions, personal benefits, banking services, salary we can say that Bank will increase recruiting efforts in futures
Bank have internal recruiting policy such as promote within wherever possible. The employee who show good performance can become the branch manager of bank.
2.4 Recruiting sources:
NIB bank used two source of recruiting
a. Internal search
b. External search
a. Internal search:
Internal search include referance from internal emloyees. Bank trust those employees who showed good performance, have long tenure with bank , orginaztion commitment behavior and offered them to recommend candidate of own choice matching with job requirements.
b. External search:
i. Advertisement
Newspaper (Daily Jung, Nawa-e-Waqt, The Nation, Dawn and Daily Khabrein… etc)
ii. School, colleges, universities
Bank recurit fresh students from foregin unversities and from best universities, institues of Pakistan, some names are following:
Institute of Business Administration
Lahore University of Management Sciences
Institute of Business Management
National University of Science and Technolog
Recuriting alteranatives:
Intership package
Contract workers
Contegent workers
3. Jon analysis:
The procedure for determining the duties and skill requirements of a job and the kind of person who should be hired for it is called Job analysis. Job analysis is very important as job analysis information is used in Selecting and recruiting, compensation, performance evaluation, training and in resolving other issues which NIB Bank faces. The methods which are used in collecting current job analysis information are
The interview
Questionnaires
a) The Interview for job analysis:
Interview is a big source in collecting information in the job analysis. Individual employees, group of employees and supervisors with vast knowledge about jobs are interviewed. The format of interview is Structured and unstructured. In structured interview a set of sequence of questions are followed by interviewers and in unstructured type of interview the interviewer pursues points of interest as they come up in response to questions.
b) Questionnaires:
In questionnaire the employees solve the fill out questionnaires to describe their job-related duties and responsibilities. The formats of questionnaires are either structured or open ended. The following common data the HR department get after job analysis:
i) Education Requirements for Banking operations Jobs
B.Com (Bachelor’s degree in Commerce): It is one of the most basic requirements of any Banking firm.
M.Com (Master’s degree in Commerce): From any reputed and recognized college or university would be an added benefit.
CPA (Certified Public Accountant) : A CPA degree is optional but it will surely give you an edge over the other Banking operations job seekers.
Knowledge of book keeping, auditing, Banking, finance and analysis, taxation can prove to be of great help while looking for getting a Banking operations job in a reputed firm
ii) Skills needed for getting a Banking operations job:
Public Speaking: A good Banking operations professional should have strong communication as well as public speaking skills.
Mathematical aptitude: A Banking operations job seeker should also have an aptitude in Mathematics and should be able to work with figures quickly and accurately.
Risk identification skills: He or she should have extremely good analytical as well as Risk identification skills.
Knowledge of Finance: Good knowledge of Finance and the current market scenario is also a must to get a good Banking operations job.
Organizational skills: As a Banking operations job includes organizing work it is necessary to have good skills in this department.
Managerial skills: Being able to do the work is another thing but being able to get the work done from others is a skill that a Banking operations professionals should have.
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