FT Portfolio in Solving Corporate Governance Issues in the gas and oil industry
Corporate governance plays a major role in structuring global coordination. This is because different individuals across the globe have different capabilities which can be of benefit to business. By incorporating these capabilities and ideas together, it becomes easier to divide various departments and assign them to respective heads to be in charge, based on their capabilities (Buckley, 2014.). A good corporate governance will have the interests of the workers in the institution at heart.
Corporate governance will always be ready and willing to listen to grievances whenever arise in the course of goal accomplishment operations. By being vigilant, governance is able to better the working conditions of the workers. If the working conditions of workers are favourable and are assured of the conducive environment, there are more chances to deliver more. There will be an improvement in both the quality and quantity of the output realized. The opposite is true. In an institution where the human resource manager is not concerned with the welfare of their workers and every time they have complaints, there is the likelihood of workers in most cases to deliver less since their morale is undermined.
A good human resource manager who possesses managerial skills will promote teamwork. In such a case, the workers are going to work together in harmony towards a common goal of the institution and together they will have the confidence to take risks for the sake of the success of the business (Victor, 2005). The motivated workforce will take the initiative to defend the welfare of the business as if it is of their own. Furthermore, in the process of working as a team, it acts as a forum to socialize and appreciate one another’s cultural, social, ideological and other differences. Various skills are learned from working as a team. Weak workers are strengthened as a result of teamwork. Ignorant workers in particular diverse fields acquire knowledge and experience from other colleagues’ support and encouragement.
Teamwork also encourages peaceful coexistence, and various people learn how to solve issues peacefully and amicably. Whenever misunderstandings occur among the workers, they can learn to solve such peacefully. Those who would opt for violent means to solve their differences will be corrected by their colleagues and are likely to be peer-counselled against such. One is therefore compelled to change certain behaviours through positive influence from fellow colleagues at work. The lazy are challenged by their more hardworking colleagues at work. Prejudices are overcome.
A human resource manager who does not encourage such brotherhood among workers will contribute to some significant degree the failure of the business. Bearing in mind that different people all across the globe have similarly different personalities and characters, Mangers should promote and encourage unity among all workers fairly. No worker is to have extra favours or be discriminated against in preference to other workers, irrespective of their position or responsibility or any basis in as far as operations are concerned. Every worker is entitled to equal rights with others. By so doing, each worker will, in the long run, develop confidence in the business and management system. Workers will always feel part and parcel of the operations of the business, and none will feel left out or discriminated against.
The human resource manager provides a link between ordinary workers in the lower level with the higher administration staff. Whenever issues arise, human resource is to communicate the worker’s grievances to the higher management staff for appropriate solutions to be put in place in the right time before matters move out of hand. When caution is taken early, there are more chances to have output increased. Urgent action towards the requests of workers to administrative staff creates confidence in workers enhancing their morale to work in a more determined manner (Tremblay, 2010). The more determined and encouraged the workers are, the more the expected output and vice versa.
As a human resource manager, globalization of a business is a way of promoting social growth to the diverse workers across the world. Global Social enhancement by human resource is done through means such as labor rotation and inter-transfers of workers from one business premise to another. Regular transfers create boosts the exposure of the workers since they will not be restricted since every locality has a unique way of doing things. Another way of boosting the social growth of workers is through the applying rewarding system. The rewarding system encourages the workforce to be more determined in the goal accomplishment duties. Furthermore, performance appraisal can still be employed as an important tool in promoting the success of the business.
Performance appraisal strengthens the social interaction and respect among the workers in lower ranks and the administrative staff. The social interactions in any organization are very important it determines the success or failure of any. If there are no positive interactions among the workers and the staff, this will hinder the efficient flow of information from the staff to the workers and vice-versa. Communication in an organization, whether horizontal or vertical, is paramount to the effective operation of the entire organization as a whole. It is, therefore, paramount for a human resource manager to ensure that harmony and teamwork are always upheld as much as possible.
Through acting as a link between the staff of higher rank in the organization, respect is upheld in the organization. The primary reason for this is because, since interaction is significant between the higher rank administration and the normal workers, too much of it will create an informal kind of environment. If the freedom to interact with people of different ranks is not restricted, the relationship between the parties involved will appear more informal than formal. The human resource manager, by acting as a link for vertical communication, creates necessary limits beyond which there will be a possibility to cause wrangles. There have to be limitations on how workers interact within the working setting. Going beyond these will disrupt peaceful and harmonious operations in the organization.
Another way of promoting global coordination for globalized organizations is through enhancing positive social interaction between the workers and the surrounding business community. When an institution or organization is established in a certain locality, it should be beneficial to members around as this acts as a potential labor (Harzing, International human resource management). Through means such as providing goods at subsidized prices, offering after-sale services, participating in community projects among others helps strengthen social relations between these members and the organization (Kellogg, 2006). As a result of an organization being part of a community, they will, in turn, develop the trust necessary for labor growth. Social ties among the members of the community where such institution is established and the service providers are strengthened. A manager who inculcates and promotes the development of such values will, therefore, influence how well the workers in the organization interact with the customers they come across.
A manager should also promote social interaction through pace setting. They should be pace-setters. They are to set a good example for workers. They should not expect the workers to do what is impossible for themselves to do. They should be reasonable and realistic. A manager who does not act as a good role model to the workers will not be active in his work. Not every person can be a manager. For one to be a successful manager, they must possess some or all the necessary skills and values required to manage effectively. Workers will always find it hard, or almost impossible to work comfortably if their work is not managed properly or appreciated as they deserve. When that happens, most of them in most cases quit the job and look for another one elsewhere where the working conditions are conducive and favorable. Very few of them will work comfortably when the pressure on them is too much. Many managers make a mistake to pressurize their workers especially in a situation where they have a target to achieve, and the time-frame is short.
The commitment of a human resource manager is also of very much importance in enhancing social interaction between workers and staff. A resource manager who is not entirely committed to his work in the organization will have a negative influence in the peaceful coexistence of workers and staff in the office. If the manager spends most of their time on their personal businesses, they leave their positions they should be holding in the organization vacant. Consequently, the role they play as a link between the staff and ordinary local workers is left undone. These workers will most likely feel the vacuum and may therefore not work as usually as they should otherwise do. If for example the working conditions are unfavorable and the uncommitted resource manager is not around to play his role, the grievances will be directed to the wrong recipients. In such a case, disharmony is most probable.
As a result, protests or illegal demonstrations that may arise due to the neglect of duty or incapacitation of the resource manager may lead to the sacking of otherwise committed workers. When no one is there to hear them out and work on their grievances, they will be tempted to use any possible means to express their dissatisfaction, some of which may be against the organization’s rules and regulations. Violations of such laid-down guidelines dictating how things should be done will in most cases lead to either suspension of the guilty, transfer or expulsion from work.
Faults and weaknesses of uncommitted managers can, therefore, affect the work of other workers and their productivity. Almost all large institutions enough to be globalized require managers with high levels of self-discipline and competence. Failure to the necessary values and skills will have adverse effects on the organization’s welfare, both within and without. It is, therefore, a fundamental consideration to have highly qualified management system put in place, if possible before an organization officially commences its operations. Failure to take necessary management skills into consideration will prove a sure doom of the organization sooner or later in future. It is, therefore, clear that, based on how crucial the role of a human resource manager is in any institution, it is of great importance to make wise decisions when establishing management in the institution.
The more skillful the management is, the more influential it will be on the workers positively, and consequently the more successful the organization will be. The most probable reason why some businesses fail and others succeed in most cases are by management strategies employed. Businesses with proper management skills will always be successful, other factors affecting success or failure, being constant. The human resource manager happens to be very influential on the fate and destiny of the institution, whether it is successful or not.
Working in workplace devoid of fear has been of immense importance throughout the entire course. When the employees are at ease, their aptitude increases and they reciprocate with increased production. Situations that generate fear in workplace comprise of work overloads, increased responsibility due to promotion, firing from work due to nosediving performance and distrust among the colleagues and the employers.
The fear of promotion is prevalent among most of the employees. Promotion is perceived to entail work overload and intensive pressure that arouses fear. The senior leaders need to recognize that higher positions are feared and slowly prepared the employees to assume higher responsibility gradually. For instance, the employees could be asked to present the annual general report. Continuous assigning of demanding responsibility such as presentation of speech before the top management instils courage and confidence. Great responsibility to various employees over several months or years accelerates leadership features in an individual and facilitates smooth transition; fear being minimal or absent.
Employees in many organizations struggle with the fear unknown. They are uncertain on how the leaders will perceive their action or performance. The most situation feared is lose of jobs in the current hard economic times. Pressure from home such as payment of bills makes employees tense with the thought of losing jobs. The employers should make the working environment conducive and assure the employees success in relation to failure and learning. Failure should not be criticized. The employees should be encouraged to learn from their failures and ensure unceasing growth. The employers also need to be available to offer crucial advice during hard times in order to reduce tension and pressure among the employees.
Methodology
Placement sequence method is useful in solving the problems of corporate governance in the Gas and Oil sector. The placement should be in a matter that makes maximum utilization of the corporate resources. The other layers of the pallet to be filled by the given set of boxes are considered. An algorithm that takes any given set of multiple size boxes determines the placement of each particular box on a three-layer pallet dimension. The algorithm takes into consideration the surface area of the gripper, gripper interference, the pickup height of each box and the gripper width. The algorithm is limited by the assumption of the multiple size boxes. There is no restriction on the number of boxes within each size.
The number of boxes presented should fill all the three layers of the pallet levels completely. This will ensure that there is completeness in every pallet constructed. An algorithm for handling multiple size boxes was developed to load two-dimensional pallets. Gripper interference is the major limitation since the gripper’s width will extend past the boxes being picked. The boxes already placed on the pallet should not be interfered with during the placement of the new boxes to the pallets. This is mainly put into consideration by the algorithm.
The pallet is divided into three sections and the sections are placed onto the pallets distinctively. The placement is in a manner that the interference to the boxes already on the pallets by the gripper of the robot is prevented (Tsai et al. 1994, p.1160). Three sections were used because the gripper’s width occupies at least one-third of the pallet. Small boxes make the robot incapable of picking up an entire level of the pallet because the boxes will slip out of grasp by the gripper.
The assumption made by the algorithm is that the boxes are of a standard height and have guillotine cuts. The forces encountered on the corners make the non-Orthogonal layouts not to be considered. The algorithm determines the layout of the boxes, which will be in three layers each divided into three sections. The absolute X and Y coordinate corresponding to the box placement on the pallet and the algorithm determines the orientation of each box. The algorithm does the placement of boxes on the pallet until all the three levels are filled or until all the boxes in the holding area have been allocated to a certain location within the pallet. The algorithm starts by determining the remaining area at the corresponding level and section.
The number of boxes to fit the section’s remaining area is determined by projecting the largest type of boxes. Boxes lengthwise and sideways are used during the projection. Selection is based on the orientation that accommodates the largest number of boxes in a confined area. If the number of this type of boxes available is less than the number needed to fill the area selected, then all the boxes are used. Next, the individual absolute X and Y coordinates of each box of this type for a particular level and the algorithm determines section. If the given number of this type of boxes cannot fill the confined area, the next box type from among the remaining boxes, which have not been placed, is selected. If the first type of boxes fills the section, the next section is selected and the routine repeated. The routine is repeated for the next level of the pallet if all the three sections of a given level of the pallet have been filled up. The process is continued until all the three levels of the pallet are completely filled (Huang et al. 2016, p.218).
Research Question
There are two research questions:
Objective
Sub-goals
Motivation
PPDI (Project/Placement Design Implementation) module have been able to adapt and understand unstructured environments. The use of PPDI (Project/Placement Design Implementation) module is beneficial since it increases performance and profit realization. Issues related to corporate governance in the Gas and Oil sector have made the method of production challenging. The demand for corporate governance monitoring in the future calls for research and development of a method to handle issues.
Experimental Set-up
The experimental setup of the proposed method will involve performing both practical and simulated tests. The FT Portfolio set-up will be used to assemble the correct requirements of developing the method. During the setup, all necessary conditions will be kept constant and considered. The aim will be to come up with the best method of dealing with concerns of corporate governance. Several approaches are identified, and testing is done on each technique under the same conditions. The methods will be implemented and used to handle issues of cost and corporate governance.
The outcomes will then be analyzed, and comparison will be made to select an ultimate method from the results obtained. Computer modeling and programming will help enhance and design an ultimate method for handling the corporate governance problems. Once the method is confirmed to be working through the FT Portfolio set-up, field-testing will be conducted. The aim of the FT Portfolio set-up is to develop and test the worthiness of the proposed corporate goverance monitoring technique. Field set-up is challenging since environment changes from one sector to another. Many organizations employ different corporate governance strategies. The goal of field set-up will be to enhance the compatibility of the proposed technique.
The FT Portfolio set-up methodology used will enhance the trust and application of the method in the Gas and Oil sector. The resources and conditions needed for both experimental set-ups may be a challenge. Also, the technology needed to develop and implement the method may not be affordable or available. Moreover, the method proposed may not solve the issues of corporate governance appropriately. Some organizations may not make use of the strategy hence limiting the study. Furthermore, the environment needed to conduct set-up the experiments may not be achievable. As a result, the accuracy of the method may be hindered. In summary, both experimental FT Portfolio set-ups will be focusing on developing a highly compatible method, which handles corporate governance issues.
Results, Outcome, and Relevance
The data that will be needed in this study include the type of goods produced or to be produced in the Gas and Oil sector particularly the Oil industry. The solutions to the issues to arrive at vary from one product to another as well as the companies. Also, the structure of the organization and objectives will be an important data. The magnitude if the issue and products is also an essential data. The technique may not be applicable if compatibility is not achieved. The variables and parameters to be examined include the companies used, corporate governance features, corporate governance issues, the accuracy of the proposed problem and the items affected. Moderating the variable is necessary for the achievement of the required results.
The FT Portfolio set-up used should suit complex tasks and compatible with majority of the organization in the Gas and Oil sector. The main concern is solving issues with corporate governance. The complexity and patterns will be considered when developing and implementing the strategy. Moreover, the size of the companies to be affected will be monitored to ensure that desirable solution and measures are achievable.
Accuracy and compatibility will be some of the results to be investigated. FT Portfolio set-ups and field experiments will be used to evaluate and investigate these results. The method will be best applicable if it will produce accurate results and cope with all corporate governance issues. The possible outcome will be getting a method, which will help enhance customization of Gas and Oil sector corporate governance. Corporate governance problems are caused by lack of customization. The proposed method is expected to be applicable in various companies within the sector and be able to promote customization. The relevance of the project will be monitored to ensure that the proposed method deals with corporate governance concerns. In summary, relevant data, parameters, and variables will be controlled for the achievement of the expected outcomes.
Kolb theory of learning and reflection
This is a theory that was published in 1984 and conducting a research and identifying that there is something that is derived when an individual keenly learns to become a person who is guided by what situation calls for. According to Kolb, this reflective theory works on two levels. The first level concentrates on four stage cycle of learning. In this first level of the theory, there is an aspect of continuity that is exhibited, and one has to follow the process to the letter. On the second level of the method, the concentration is on four separate learning styles (Moon, 2013). In this second level, the person involved does not necessarily have to follow a particular process to achieve the intended purpose.
Figure 1: Kolb’s Learning Process
The first step of the Kolb’s reflection theory is gaining an experience of what the world or the business entails and how it can be run. This is a crucial part of the building a strong business as an individual is in a position to note down what has transpired in the course of operation. After a given period, the experience or the skills that have been acquired need to be interpreted to identify the relationship that exists between the goals that have been set and the actual realization of the business. This is where the reflection stage comes in. The experience is analysed from all dimensions to see is it positively contribute to the wellbeing of the business. If it is realized that there is a deviation from what is expected or there are some changes that can be affected. Through the experience, some changes are implemented, and a new planning and trying out of other activities are performed. This ensures that the learning process continues from one phase to another.
Project Planning and Gantt chart
Planning will ensure that the scope, time, and cost of the project will be monitored. A Gantt chart below shows the schedule of various activities of the project based on resource and time constraints.
Conclusions
Adoption of new production process arouses fear among the employees. These comprise the use of new machines in the production process and new methods of updating and keeping records. Initially, the employees perceive the new process of production meaning greater output. However, realization of greater output demands both the output of the employees and the machines. Leaders need to ensure all the employees in the workplace receive adequate training before any new change of production. The employees will not have to spend extra time to ensure maximum production in the Gas and Oil Sector, as they will have upgraded to the necessary skills. In addition, training in any organization should target the entire workforce. In instances where training is selective, employees begin competing among themselves in order to impress their bosses.
They all crave to raise the ladder of success, a situation that to result in internal competition. Cases such as backbiting become widespread in an organization adversely destructing synergy Gas and Oil. The employees place their desires before the desires of an organization greatly affecting the growth of an organization. Leaders should ensure fair and equalized treatment among all the employees in regard to awards and promotions among other benefits.
Absence of discrimination fear unleashed collaboration and the employees’ works to meet the expectations of a given organization. Fear impedes trust among the employees and the senior manager and hinders innovation. While ascending in a leadership position, it ensures fear of uncertainty is eliminated within the first few months of operation. Without fear, intrinsic motivation is easy to achieve, which boost production in various companies in the industry. Remaining enamours help all employees and rarely criticize their failure, in order to give them room for improvement. Finally, the use of FT Portfolio is of quite importance as it helps in ensuring that the issues in the Gas and Oil sector are addressed and solved appropriately.
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