Organizational stakeholders Essay Example | Topics and Well Written Essays - 500 words

Organizational stakeholders - Essay Example Home Depot being a company running on such a large scale has a great responsibility towards its stakeholders. Home Depots major stakeholders include its board of directors and shareholders/investors, the customers, employees and the suppliers. Bob Nardelli, the former chairman and chief executive of Home Depot contributed greatly towards the success and expansion of the organization. Nardelli was a true leader and followed an autocratic approach. However, along with the positive changes that Nardelli brought with him, he also made some mistakes that greatly affective various stakeholders of the company. Nardelli was considered to have an arrogant and authoritative approach which was a cause for alienation of many stakeholders. Nardellis attempt on cutting down labor costs by hiring more part-time workers as compared to full-time lead to the loss of good workforce. This also lowered the morale of the existing workers. Another one of his errors was the cut back of inventory budget which left the stores undersupplied and the customers dissatisfied. Nardellis attempt of increasing profit margin through demanding lower prices from suppliers led to the loss of significant vendors as they were not satisfied with the price offerings. Most importantly, Nardellis hefty pay was a great source of concern to shareholders and corporate governance groups and was prone to a lot criticism. Under the chairmanship of Nardelli, shareholders were not given the rights that they were entitled to and were not given an opportunity to speak up. This shareholders matter led to the arousal of Nardellis credib ility issues which made the investors lose trust in him and his management (Waters, 2007). This was one of the biggest set backs for him as the shareholders tend to hold immense influence on the organization. The present chairman and CEO of Home Depot is Frank Blake. Many

'How has the Y Generation changed HRM practice Thesis Proposal

'How has the Y Generation changed HRM practice - Thesis Proposal Example It is for this reason why, today, specific personnel are assigned with responsibilities on employee retention. Central to this drive is the human resource department because most people-related activities are based on its policies and processes. (Finnegan 2009, p43) In an organizational attempt for employee retention and turnover, human resource managers have to examine, understand and manage the issue and that an effective management can positively impact the cost on recruitment, training, socialization and disruption, including a number of other indirect costs. (Phillips and Connell, p1) In this respect, a fundamental concern in employee retention is how the so-called Generation Y affects HR practices. This is issue emerged out of the principle that generations of employees differ in their characteristics, and, hence, have different needs, desires, behavior, expectations and requirements needed to be satisfied. Background: The Generation Y Generation Y refers to those people born f rom the 1980s to the 1990s. Some academics are more specific, placing such births between 1980 and 1995. (Tsui and Lai 2009, p39) They are also known as the â€Å"Echo Boomers† â€Å"Millenials,† â€Å"Netsters† among other names. They are, however, distinguished from Generation X and, more recently, the so-called Generation Z. ... Generation Y, meanwhile, are those people born between 1995-2009. (Vaiman and Vance 2008, p66) There are about sixty million Generation Y-ers and that all of these would have entered the workforce by this decade. (Stone 2005, p266) Vaiman and Vance stated that Generation Y employees are in great demand and that they constitute 20 percent of today’s workforce, and poised to reach 40 percent in just five years or less. (p66) The characteristics and values of this group are well documented. For instance, Lamb, Hair and McDaniel (2008) outlined a comprehensive profile, explaining that a Generation Y-er is: Impatient since they have grown up in a world that is always been automated and that they have access to computers; Inquisitive because more than their parents about computers and technology and that this is actually a source of pride; Family-oriented due to their stable childhood as a result of parents that are deeply interested in family life; Opinionated as they have been enc ouraged to share their opinions at home, at school and the community; Diverse as this generation saw the largest number of races within America and there are a good number who claim to have come from more than one race; and, Time Managers since their entire lives have been scheduled – from playground to soccer cam to Little League. (p76) Put another way, Generation Y is supposedly a product of homes with doting parents, typified as soccer moms, parents who prep their children for the right schools, and parents who typically have a high degree of involvement in their children’s near-term and longer-term activities, plans, and goals. (Lloyd, p161) It is not, hence, surprising