The Real Lincoln A New Look At Abraham Lincoln - 1757 Words

In Thomas Dilorenzo’s controversial book, The Real Lincoln: A New Look at Abraham Lincoln, His Agenda, and an Unnecessary War, a new light is shed upon the historic President Lincoln. It challenges ideas and beliefs that students are taught in grade school, and incorporates a new way of thinking. Above all, this book provides insight into the real life of Lincoln, and remains controversial due to its impeding and harsh criticisms. Dilorenzo, an economic historian, is often questioned about his ethics and credibility to write such a critical book. There are different branches within the historical field of study. The economy plays into society and government today, as it plays a major role in our history. The economy is a substantial part†¦show more content†¦Shortly following the first few sentences, Dilorenzo immediately challenges what most people know about Lincoln by saying that the works composed about him are a myth. Most assume that Lincoln was a noble politici an, supporting the American way of life. However, Dilorenzo states that Lincoln â€Å"seethed in frustration for many years over how the Constitution stood in the way of his political ambitions† (3). This accusation proposes the notion that Lincoln was not a patriotic American man, but a selfish politician only concerned with his own political agenda. Also, many students are taught that Lincoln was an advocate for the abolition of slavery. However, Dilorenzo argues that Lincoln was â€Å"opposed to political or social equality of the races† (3). A pro-abolitionist strongly supports the equality of the races, whereas Lincoln supposedly does not. The next chapter in Dilorenzo’s book tells of Lincoln’s actual opposition to the equality of the races. At young ages in developmental history classes, elementary students are taught that Lincoln supported the abolition of slavery and fought for slaves’ rights. Dilorenzo again strongly challenges this idea. In fact, â€Å"[Lincoln] developed plans to send every last black person to Africa, Haiti, Central America – anywhere but the United States† (17). This idea is better known as colonization. Colonization is a term used to describe

Conceptual Framework of Accounting †Free Samples to Students

Question: Discuss about the Conceptual Framework of Accounting. Answer: Introduction: Accounting is the art which help in classifying the transactions, recording the same in the books of accounts, summarizing it, reporting in the form of financial statements and then analyzing and making interpretation out of the results. Thus, accounting plays very important role for the success of any form of organization (Deegan, 2014). Conceptual framework of accounting is defined as the framework which has been laid out with the objective and purpose to facilitates the correct and accurate measurement of assets and liabilities at the year end and the proper recognition of the income and expenses for the reporting year. The framework consists of the regulatory framework which is governed by the statutes, laws, acts, rules and regulations of the country. Conceptual framework of accounting has three main features: Faithful representation The financial statements shall be prepared and disclosed in the manner in the way it is required to be prepared. Relevance The financial statements shall be relevant for the users of the financial statements Reliability The financial statements so prepared shall be reliable enough so that the users of the financial statements including the stakeholders thereon can get maximum information out of it and will be able to make an effective and efficient decision (Capital Markets Advisory Committee Meeting, 2013). In the given case, it is said that the neutrality is considered as the key component of the faithful representation. Faithful representation is comprised of three components namely Neutrality - It means that is zero chances of getting the financial statements so prepared with bias or any one benefit. Complete It means that the financial statements so prepared and presented to the management and stakeholders of the company shall be complete whether dealing with the financial data or non financial data. Error free It means that the financial statements so prepared and presented are free from any type of mistakes Neutrality is a major key component which is linked with the faithful representation and it does not mean that there will be zero value information rather it encompasses that the financial statements should be unbiased and should not reflect that it is being prepared for some particular community (Nash,2010). In the todays scenario, it seems impossible to have the financial statements totally neutral or fully representational faithful. It is because of the following reasons: Remuneration paid to the executives or Key managerial personnel of the company consists of three components namely fixed remuneration, short term incentive and the long term incentive. These incentives are the risk based and depend on the performance of the key managerial personnel and the total shareholder return respectively. Thus, there are chances for the key managerial personnel of the company to manipulate the figures of the financial statements in order to have the maximum incentives. (Wesfarmers Limited Official Website) Earnings per share play very important role in attracting the customers. Therefore, in the urge to have more and more customers the company might tend to increase the net profit after tax so that the earning per share will automatically gets increased. Therefore, the standard setters and other regulatory bodies want to have faithful representation in the conceptual framework of accounting. As per the historical cost of accounting, the assets are measured at the cost price of the time at which the same is purchased from the vendor and includes all the other costs including installation and loading and unloading etc incurred and paid to bring the asset so purchased to the present location and condition where the assets is required to be used and installed. The historical cost of accounting depends upon the availability of the invoice and other corroborative evidence. The historical counting has advantages but is suffered by the following weaknesses: Change in price level: The historical cost method of accounting lay down that the company will record all its assets and liabilities on the historical cost and the company in no way takes the effect of changes in the price level on the asset and liabilities of the company. Wrong Valuation of Fixed Assets: In the historical cost of accounting the fixed assets are recorded at the acquired cost and are not restated with respect to the changes in value as per the prevailing market. Inadequate Depreciation Depreciation helps in accumulating the funds which will in turn help the company to replace the current equipment as and when the need for it arises. As the depreciation is charged on the historical cost which has decreased the value but in no case the company will be able to replace the assets Unreal Amount of Profit Statement of Income so prepared will not reflect the actual amount of profit. It is because the companys revenue is being booed at the current value but the expenses had already been incurred and booked depending upon the historical basis of accounting. Thus, the amount of profit so come will not provide the desired and effective results and will not facilitates the comparison with others. Does not represent true and fair view: Financial statements consist of two parts income statement and the balance sheet. This section deals with the balance sheet of the company. It entails that monetary assets like cash, advances to other parties, trade receivables and trade payables will not be affected but the non monetary assets like inventory and fixed assets including the land and building will be recorded at the historical cost of accounting. In the case of the boom in market, the comparison can never be made as the fixed assets of the company including stock cannot be ascertained. Thus, the change is required otherwise the auditor can issue the qualified report again as to comparability and the presentation of the true and fair view of the financial statements for the year end. Apart from these limitations, the historical cost accounting has the following advantages: Cost of the asset so purchased is available and the same can be checked with the invoice and The method of accounting in different ways facilitates the comparability within the company or outside the company. The method of accounting ensures that there will be stable pricing and is not subject to any market conditions (IASB,2010). It is still popular among many persons because of the fact that it does not give the accountant or any other person to manipulate the books of accounts in any manner and thus facilitates the true and fair view of the state of affairs of the company as well as financial performance of the company. For proceeding with and completing any kind of work, methods are required how to start with the works. In the accounting methods are also required within the conceptual framework which will give the idea to the company as to how the same can be applied. There are two methods of accounting. One is fair value of accounting and another one is historical cost accounting. Both the methods are equally important for the companies requiring the financial statements to be prepared and presented within the defined framework. This framework is known as conceptual framework. The first method of accounting ensures that the assets are recorded at the market value or fair value at the end of every reporting period. The necessary revaluations will be done accordingly in finalizing the financial statements. The second method of accounting entails that the assets and liabilities will be recorded at the historical cost and will not revalued on the basis of the changing market conditions and therefore the value will be the same. Since the year nineteen hundred and twenty there has been the debate as to whether the companys financial statements and books of accounts are required to be prepared and presented as per the fair value method of accounting or the historical cost method of accounting. In the current scenario, the International Financial Reporting Standards have given an option to the preparers of the financial statements and the books of accounts as to the adoption of fair value method or the historical cost method will be optional in case of the non financial assets (IASB,2015). It means that the power to adopt the method of accounting totally depends upon the discretion of the management. The International Financial Reporting Standards has not made it mandatory to use the particular method of accounting in the particular manner rather has given the full discretion to the management. Fair value method requires that the assets of the companies are to be valued at the price which the product will fetch from the market. For instance, the cost of furniture in the books of accounts is $100 but in the market if we sale it then the value come as $ 150 which means the revision in the price is automatically updated and increased in the market. To make these changes the company has to revalue the assets at all the reporting date either upwards or downwards depending up on the market value and take the corresponding effect in the financial statements. Historical cost method of accounting does not require any revaluation neither upwards nor downwards rather than the method states that the value of all the items of the financial statements shall be stated at the cost. Users of the financial statements will have more financial information if the financial statements are prepared as per the fair value method of accounting as it will detail what is status of the company in terms of the profit as well as in terms of the financial position whether the company will remain solvent in future or there are chance of insolvency (Whttington ,2014). Historical cost accounting method does not facilitate comparison. Due to disadvantages present in Fair Value Method, the method has not been applied uniformly. References Capital Markets Advisory Committee Meeting, (2013), Conceptual Framework available on https://www.ifrs.org/Meetings/MeetingDocs/Other%20Meeting/2013/March/AP%203%20conceptual%20framework.pdf accessed on 02/05/2017 Deegan C, (2014), Financial Accounting theory, available on https://www.sekoyen.com/DeeganFAT_3e_Chapter_01.pdf accessed on 02/05/2017. International Accounting Standards Board, (2010), Conceptual Framework for Financial Reporting 2010 , pages 16-21 IASB (2015), Historical Cost Vs Fair Value measurement, available ohttps://www.ifrs.org/Alerts/Conference/Documents/2015/Hans-Hoogervorst -speech-Paris-June-2015.pdf accessed on 02-05-2017. Nash H., (2010), Conceptual Framework for Financial Reporting, available on https://www.ifrs.org/Current-Projects/IASB-Projects/Conceptual -Framework/DPJul06/Comment-Letters/Documents/CL9.pdf accessed on 02/05/2017. Whttington G., (2014), Fair Value and the IASB / FASB Conceptual available on https://ritholtz.com/wp-content/uploads/2009/01/whittington-two-world-views -2008.pd fon 02/05/2017.

Love Song Of Prufrock Essays (1369 words) - Chapbooks,

Love Song Of Prufrock The ironic character of "The Love Song of J. Alfred Prufrock," an early poem by T.S. Eliot (1888-1965) in the form of a dramatic monologue, is introduced in its title. Eliot is talking, through his speaker, about the absence of love, and the poem, so far from being a "song," is a meditation on the failure of romance. The opening image of evening (traditionally the time of love making) is disquieting, rather than consoling or seductive, and the evening "becomes a patient" (Spender 160): "When the evening is spread out against the sky / Like a patient etherized upon a table" (2-3). According to Berryman, with this line begins modern poetry (197). The urban location of the poem is confrontational instead of being alluring. Eliot, as a Modernist, sets his poem in a decayed cityscape, " a drab neighborhood of cheap hotels and restaurants, where Prufrock lives in solitary gloom" (Harlan 265). The experience of Prufrock is set against that of unnamed "women" (13), collectively representing womankind. Their unattainable status is represented by their constant movement- they "come and go"- and their "polite chitchat about Michelangelo, who was a man of great creative energy, unlike Prufrock" (Harlan 265). We cannot imagine that they would listen to any love song by Prufrock, any more than they would find his name or his person attractive. "A man named J. Alfred Prufrock could hardly be expected to sing a love song; he sounds too well dressed" (Berryman 197)."J. Alfred Prufrock" indicates his formality, and his surname, in particular, indicates prudery. The powerful metaphor, a visual image of the "yellow fog" (15) in the fourth stanza, represents the jaundiced environment of the modern city, or Eliot's "infernal version of the forest of Arden" (Cervo 227). The image is ambiguous, however, because Eliot also makes it curiously attractive in the precision he uses in comparing the fog's motions to that of a cat who "[l]icked its tongue into the corners of the evening" (17). We also hear the fog, disquietingly, in that image, in the onomatopoeia of "licked." Repetition of "time", in the following stanza, shows how the world of Prufrock's being is bound to temporality. "Prufrock speaks to his listeners as if they had come to visit him in some circle of unchanging hell where time has stopped and all action has become theoretical" (Miller 183). "Time" is repeated, several times, but it is not only its inescapable presence that Eliot is emphasizing, but also the triviality of the ways in which we use it; "the taking of a toast and tea" (34). The melancholy of Prufrock's situation begins to emerge when he speaks of his experience of failures in love and life. The initial vitality of his invitation to go out into the evening is now replaced by images of the many evenings he has known, with their same disappointing conclusions. This meditation expands to include "mornings, afternoons" (50) - all of his life, in other words - which, in a famous image, he has "measured out with coffee spoons" (51). The emphasis on "I" in the poem, which we would expect in a dramatic monologue, is also typical of Romanticism, with its celebration of the ego. Again, in this poem, Eliot is pointedly unromantic, as the "I" that is revealed is fit not for celebration but for ridicule, especially when Prufrock shows that he has been repeatedly diminished, even reduced to a laboratory specimen, by others' evaluation of him. It is little wonder that his self-confidence, the essential quality of a successful lover, has been shattered. It is women, of course, who have delivered this judgement on Prufrock. He finds them powerfully attractive, with "[a]rms that are braceleted and white and bare" (63), but we notice that this image - like the eyes, earlier, that "fix you in a formulated phrase" (56) - does not indicate a whole person, but rather a fragment of a human being, almost lifeless, like "[a]rms that lie along the table" (67). We may be critical of Prufrock, but the objects of his desire are scarcely more desirable. The criticism broadens to encompass a society, even civilization, and Prufrock becomes a type of human being - modern urban man, perhaps - not merely himself. The poem is haunted by the refrain referring to the women. Prufrock is taking himself and us on a quest in pursuit of them, "Let us go then, you and I" (1). It is a Romantic image, but Prufrock's quest is frustrated by the modern setting and by his unheroic qualities. Prufrock's

Inspirational Sales Quotes

Inspirational Sales Quotes Are you looking for inspirational quotes on selling? Sometimes you have to look past the numbers to find the philosophy behind making the sale. Is your sales staff motivated enough, or could they use a wake-up call?   Who better to inspire salespeople than those who have achieved  success in their fields? Whether its entertainment, sports, or life in general, the wisdom of others who have triumphed over adversity is always a source of inspiration. Here is a collection of quotes to help motivate you to think about sales in different ways. Remember, closing the deal is about more than just the bottom line or the end result. Sometimes its about the journey to get there. Quotes From Oprah Winfrey About Success Its worth putting Oprah in her own category because any woman who is known the world over only by her first name is definitely doing something right. The talk show host and award-winning actress became a media empire unto herself through sheer grit and determination. Her success came after overcoming a difficult childhood and struggling with her health and her weight under intense public scrutiny. And Oprah has had plenty to say about success. Here are some of her most memorable quotes.   Think like a queen. A queen is not afraid to fail. Failure is another stepping stone to greatness.Real integrity is doing the right thing, knowing that nobodys going to know whether you did it or not.The key to realizing a dream is to focus not on success but on significance. Then even the small steps and little victories along your path will take on greater meaning. Quotes From Others to Inspire Sales Closing the deal is intimidating, but it doesnt have to be overwhelming. Get your game face on and take inspiration from some of these quotes about winning attitudes. Remember, you only have to succeed the last time. -Brian Tracy, writer and inspirational speakerSeek out that particular mental attribute which makes you feel most deeply and vitally alive, along with which comes the inner voice which says, This is the real me, and when you have found that attitude, follow it. -William James, doctor and philosopherThere are two kinds of people: those who do the work and those who take the credit. Try to be in the first group. There is less competition there. -Indira Gandhi, the first female prime minister of IndiaSetting an example is not the main means of influencing others; it is the only means. -Albert Einstein, winner of the Nobel Prize in Physics who developed the theory of relativityShow class, have pride, and display character. If you do, winning takes care of itself. -Paul William Bear Bryant, record-setting college football coachShow me someone who has done something worthwhile, and Ill show you someone who has overcome adversity. -Lou Holtz , college football coach and broadcaster It always seems impossible until its done. -Nelson Mandela, anti-apartheid activist who became president of South Africa

International banking Essay Example | Topics and Well Written Essays - 2000 words

International banking - Essay Example Having considered these two versions of definition for funding liquidity, it is also worth noting here that some experts (Brunnemeier and Pedersen, 2007; Strahan, 2008) have defined liquidity from traders and investors’ perspectives, by stating that it refers to their capability and potential to raise funds in short term. In cases when banks are unable to make timely payments or traders or investors are unable to generate funds from the market, as readily as they could have, there is a situation involving funding liquidity risk. International Monetary Fund (2008) defines funding liquidity risk by stating that it is the lack of capability of a financial institution to discharge its liabilities or financial obligations in due time. Normally, funding liquidity risk emerges from availability issues pertaining to the following sources of funding liquidity: Trading of Assets; Securitization; Loan Syndication; and Obtaining loans from Secondary Market. Having considered these factors , it is not a simple task to measure funding liquidity risk. ... t process for funding liquidity, Drehmann and Nikolaou (2008) have suggested a more simplistic measure for funding liquidity risk while keeping in view the central bank as the source for funding liquidity. The adjusted bid is denoted by the following expression: On the basis of this adjusted bid determination expression, Drehmann and Nikolaou (2008) then constructed a proxy for the funding liquidity risk, which is the sum of all bids made by all banks. The proxy is presented as follows: Or in other words: The review of theoretical and empirical literature pertaining to funding liquidity risk shows that increased risk associated with funding liquidity reflects an increased valuation of bids in the market, as investors and traders seek more return for higher risk assets. In order to normalize the bid price, Drehmann and Nikolaou (2008) have introduced the concept of adjusted bid, which is ultimately used in the measurement of liquidity funding risk. Having discussed funding liquidity, funding liquidity risk and its measurement, it is now relatively a simple task to describe and understand market liquidity, which in a similar manner, refers to the ability of traders to sell and/or buy assets in the market with no or little influence on its price and at lowest possible costs (Hooker & Kohn, 1994). Market liquidity relates directly to the cost of an asset in the market. It is the bid-ask spread aimed at determining the loss caused to sellers upon selling an asset in the market and purchasing it again at the same time. Another factor which relates to market liquidity is the â€Å"market depth†. Market depth is depictive of the number of units of an asset traders are willing to trade while keeping in view the existing prices, i.e. both for bid and ask, provided that no changes

Inputs and Outputs Devices Essay Example | Topics and Well Written Essays - 500 words

Inputs and Outputs Devices - Essay Example The essay "Inputs and Outputs Devices" talks about the various input and output devices used while working with computers and presents the overview of advantages and disadvantages of such devices. Computer output entails any type of information that is being provided by the computer after processing. An output device is a hardware piece that is used to display or output data which has been processed or has been stored on the computer. Examples of output devices are speakers, speech synthesizers, plotters, printers, and the Visual Display Unit. Once information has been fed to the computer, it is in electronic form. This information is in a form that can only be handled and understood by the computer, and not by human beings. The information will, therefore, need to be converted into a form that is understood by a user. This is mostly done in two ways: by printing out the information and by displaying the information on the visual Display Unit. If a user is using a machine with multimedia, he or she can have sound as an output. In this case, the sound is emitted through the speakers. These are all benefits and roles of having output devices connected to one’s computer.A peripheral device is defined as that which can be attached to a computer to increase its functionality. These devices are used in conjunction with the output devices. The output devices are used regularly by students to do their projects and assignments, and they also help to perform basic logical and arithmetic operations.

Recruitment The Process Of Searching The Candidates Commerce Essay

Recruitment The Process Of Searching The Candidates Commerce Essay According to Edwin B. Flippo, Recruitment is the process of searching the candidates for employment and stimulating them to apply for jobs in the organization. Recruitment is the activity that links the employers and the job seekers. A few definitions of recruitment are: A process of finding and attracting capable applicants for employment. The process begins when new recruits are sought and ends when their applications are submitted. The result is a pool of applications from which new employees are selected. It is the process to discover sources of manpower to meet the requirement of staffing schedule and to employ effective measures for attracting that manpower in adequate numbers to facilitate effective selection of an efficient working force. Recruitment of candidates is the function preceding the selection, which helps create a pool of prospective employees for the organization so that the management can select the right candidate for the right job from this pool. The main objective of the recruitment process is to expedite the selection process. Recruitment is a continuous process whereby the firm attempts to develop a pool of qualified applicants for the future human resources needs even though specific vacancies do not exist. Usually, the recruitment process starts when a manger initiates an employee requisition for a specific vacancy or an anticipated vacancy. Objectives of the study The purpose of this paper is to examine the employed jobseekers perceptions and behaviors of third-party online recruitment technology adoption in Bangladesh. There are two objective of this study: General Objective: To analyze the present online/web based recruitment selection of Bangladesh. Specific Objectives: To determine the steps involved with online recruitment selection process processes. To offer a guide to find out online recruitment selection process to job searcher companies job seekers. Show how this activities relate with the organization overall strategy and objective. To determine the organizational convenience regarding the online recruitment practices. To identify the candidates perception about online recruitment practices. Methodology Theoretically speaking, online Recruitment and Selection are two separated functions. Recruitment deals with the forming a pool of applicants for a particular job, whereas Selection deals with finding the best one of the lot. There are two methods: Primary Data: In the primary source, data are being collected directly from some multinational company like; AKTEL Mobile Company, GP (Grameen Phone) Mobile Company, British American Tobacco Bangladesh and much more. Secondary Data: In the secondary source, different textbooks and journals relating to the theoretical frame work of the project was accessed to define and to determine Online Recruitment Selection Process. Moreover, annual reports, company projects profile, related preserved data, catalogs and also from the Internet. Limitations No proper information about organization recruitment selection interview. The Multinational Company has many secrete policies for the organization which is very much related with recruitment selection process they were not interested to prove that information. Some information presented in this report may be biased, as people tend to avoid their own limitation regarding their job and to hold other departments responsible for drawbacks of their own. Moreover, some information was withheld to preserve privacy of the company. So, they cant give the exact information always. This report is prepared totally based on secondary information so it cannot represent itself as a actual practices of online recruitment practices for the organization. Objectives of Recruitment Selection To attract people with multi-dimensional skills and experience that suits the present and future organizational strategies. To induct outsiders with a new perspective to lead the company. To infuse fresh blood at all levels of the organization. To develop an organizational culture that attracts competent people to the company. To search or head hunt people whose skills fit the companys values. To devise methodologies for assessing psychological traits To seek non-conventional development grounds for talent. To search for talent globally and not just within the company. To design entry pay that competes on quality but not on quantum. To anticipate and find people for positions that does not exist yet. Online Recruitment Selection Organizations first started using computers as a recruiting tool by advertising jobs on a bulletin board service from which prospective applicants would contact the company. Then some companies began to take e-mail applications. Now some employers are not only posting jobs and accepting resumes and cover letters on-line but also are conducting employment interviews on-line. Advantages for such Internet recruiting by employers include: Reaching more applicants. Having lower costs and faster response time frames. Tapping an applicant pool conversant with the Net. Employers often begin the Internet search process by establishing an organization website and listing jobs on it. Alternatively, companies with a web page that specializes in posting job listings (an Internet job service)-much like the electronic bulletin board of days gone by-can be used by job seekers. Finally, online employment agencies can be used to post jobs and find applicants on the Net. One advantage of Internet recruiting is that it may improve the chances of contacting passive job seekers-those people who are not actively seeking work. Listing at popular job-search Internet sites is a good way to attract such browsing high-tech workers.27 Indeed, recent surveys show that about 37% of companies now use the Net for recruiting, and the rate is increasing rapidly. Alongside the long-term growth in both temporary and permanent recruitment, there has been an explosion in online advertising. A generation ago the print medias dominance in advertising looked unchallengeable but the emergence of the internet, the rise of job sites, the low cost and speed of advertising online, and companies use of their own websites has challenged that position. In 2006 recruitment advertising in print generated a total of  £1.168 billion in revenues (down 13 per cent for the year) with online advertising worth  £200.5 million (up 27 per cent).14 In a world in which 62 per cent of all UK adults are online, 50 per cent of internet users go online each day and there are 12 million online job seekers in UK, the web is an increasingly important way of connecting with potential employees. As a result of this: 65 per cent of FTSE 100 companies use the internet to recruit candidates. 78 per cent of recruitment companies advertise job vacancies online. UK job sites currently receive around 40 million visits per month. Monster.co.uk alone has over two million CVs on its website. Developing country like Bangladesh, also use online recruitment. About 77 per cent multinational company use the online recruitment now. Bangladeshi website like job1, jobbd, and many other website is popular for jobseeker. The internet is also blurring the old, neat divisions between advertisers and recruiters. Websites are taking on some traditional recruitment functions, particularly where employers are looking to fill low-skilled jobs at minimum cost, while both employers and recruitment companies are investing in their online capability as a way of connecting directly with potential applicants. Purpose of Online recruitment and selection The buzzword and the latest trends in recruitment is the E Recruitment. Also known as Online recruitment, it is the use of technology or the web based tools to assist the recruitment process. The tool can be a job website like naukri.com, joba1.com the organizations corporate web site or its own intranet. Many big and small organizations are using Internet as a source of recruitment. They advertise job vacancies through worldwide web. The job seekers send their applications or curriculum vitae (CV) through an e-mail using the Internet. Alternatively job seekers place their CVs in worldwide web, which can be drawn by prospective employees depending upon their requirements. Process of bringing the prospective employee employer to stimulate / encourage the employee to apply for the job. Determine the present and future online requirements of organization in conjunction with its personal- planning and job analysis activities. Increase organizational individual effectiveness. Increases the pool of job candidates at minimum cost. To search for talents globally not within the organization. The necessities of online recruitment are Low cost. No intermediaries. Reduction in time for recruitment. Recruitment of right type of people. Efficiency of recruitment process. Efficiency gains for the HR dept Drastic reduction in overall cycle time for recruitment from inviting applications to recruitment. Reduction in the time for data entry and processing the raw data. Reduction in time from the traditional manual communication modes to the web based automation. Economies of scale in advertising spend Reduced advertising spend from fewer and smaller adverts. Reduced need for advertising in the local dailies. Saving in storage space for receiving applications and scrutiny. HR staff carrying out higher value activities, for example workforce planning. Less HR staff time spent on basic recruitment tasks. Completely transparent and fool proof system with minimal manual intervention Easy handling of huge volume of data maintenance of confidentiality. Final master database handed over along with an archival of the images for future reference. Online recruitment is not expensive. By saving on time, design and print costs and targeting precisely the best sites for the best candidates, online recruitment is a very cost-effective option. Advertising online opens up a much wider candidate pool than advertising in print. This gives you a much better chance of finding the right candidate for the job Improved ability to target specific audience. Huge saving in printing and postage costs. Cost of placing the job postings. Distribution of postings. Absence of middleman. Resume management. Quality of candidates. Quality of service. Less paperwork. Convenience. Speed. Benefits to the applicant 24/7 access via the Internet with support available through local libraries at no cost to the applicant Online status update in the website. Online redress of queries No need to contact departments in person/phone. Application packs and job details are available online and job applications can be submitted online, thereby enabling a process that is not dependent on postal systems. Functions regarding online Recruitment Selection It is extremely important that HR managers find employees quickly to fill vacancies because otherwise the companies that they represent risk losing a lot of money. So what should HR managers do to find employees quickly and effectively? The answer to this question is easy for the companies that have embraced Internet job sites. Job ads can be posted on the Internet literally within 5 10 minutes: The Internet has increased the speed by which job ads can be posted for job seekers. It is now possible to post a job ad which can be displayed to thousands of job seekers within minutes. Looking through ads is facilitated by key word searches that enable job seekers to find the job ads that are of interest to them, rather than having to wade through pages of job ads in the newspaper. Traditional methods have required for a job ad to be carefully prepared and formatted, keeping in mind that it should be short and to the point because of cost considerations. This has required for companies to prepare job descriptions that are described in brief. The result of short job descriptions can be catastrophic for HR Managers, because such ads often attract the wrong type of candidates. An inappropriate job ad can result either in a flood of resumes from unqualified candidates or in a complete lack of CVs. Either outcome requires additional work from the HR Manager. Internet job ads do not have the space limitations of print job ads. The benefit for HR Managers is that they can now use longer job description that fully describe the company, company location, the job requirements and the working conditions offered. Some Internet job sites can even prepare company presentations in order for job seekers to get a better taste for the company and its culture. This has changed the traditional approach of HR Managers in preparing job ads. In effect HR Managers pass on some of the prescreening to the candidates themselves who are better able to decide whether they meet the job requirements and equally important, candidates can better decide whether they wish to work for the company in question as described in the company presentation. The result is a higher response rate to Internet job offers in comparison to candidates who respond to print advertisements by candidates who fully meet job requirements. This is a win situation for the HR Manager and the job seeker. The Internet enables HR Managers to instantly locate the employees that it seeks: Many Internet job sites also have candidate databases that companies can use to fill vacancies instantly. These databases can usually be searched through by key word searches and sorted by industry, location and other criteria. Such searches are facilitated by the fact that most candidates publish their minimal salary expectations which is very helpful for employers in determining candidate suitability for an opening. There are even some firms that enable employers to use their database free of charge, charging employers a percentage of each hires salary. Potential candidates can submit their job details to the CV database instantly using online forms that they fill out and send to the web sites database. Internet job sites ensure that their database is current by deleting submissions older than three months. Candidates that want their job details to be posted for longer periods must update their CV periodically. Job seekers all over the world have the same instant access to all data: The Internet enables for job advertisements to be accessed instantly by job seekers all over the world. This information is accessible to all job seekers regardless whether they live in Chicago or Jakarta. This has revolutionized recruitment, because for the first time it is possible to find candidates anywhere in the world without paying any extra charges. The only possible additional charge for companies is for relocation for hired candidates who live in other locations. Filling certain positions increasingly requires for HR Managers to search outside the company location. The revolutionary transformations taking place due to changing technology requires for companies to hire employees with knowledge of technology that did not even exist several years ago. Finding the ideal candidate for such difficult positions to fill makes it more than worth it to pay for relocation charges. The savings accrued through the use of Internet job sites will more than make up for additional costs suc h as moving expenses. In addition, attracting skilled and experienced employees from outside the firm will allow the employer to save considerable sums that would otherwise have been required for training. Moreover, the company would not be wasting these training funds on potentially unproductive employees, because they would have already been weeded out by the former employer. The advent of Internet jobs sites has made recruitment an increasingly faster, more effective and efficient process. These new digital corporations make it possible for traditionally expensive newspaper advertisements to be replaced by digital ads that are many times less expensive than their printed counterparts. The popularity of this medium is on the rise, because access to this information is free of charge to job seekers who can efficiently and conveniently browse through job ads any time of day they desire. Employers are no longer limited by space considerations and can include much more about the job offered in their ads than could be done in the newspaper model. All this can be done instantly with just a click of the mouse. How the Online Recruitment Selection Work Online recruitment and selection, e-recruitment and selection, or web based recruitment and selection is the use of online technology to attract candidates and aid the recruitment process. What this usually means is the use of a companys own website, a third-party job site or job board, a CV database or search engine marketing to fill vacancies. Careers websites Or Companys own website: Research suggests that the careers area of a company website is the second most visited area after the home page. People are always looking for careers opportunities so the use of a companys own website as an online recruitment resource is now common practice for many. Indeed, some companies integrate their careers sites to manage the entire recruitment process. Candidates not only apply for jobs via the website but these job applications are pushed through an online HR back-end where HR can monitor, rate and track applications, conduct psychometric tests, screen out unsuitable candidates and, in some cases, even set up interviews. Job sites and job boards: Most employers who have invested in any form of online recruitment will, at some time or another, use third-party job sites and job boards as part of their online recruitment strategy. Job sites and job boards are websites that advertise large numbers of job vacancies from many different recruitment agencies and employers. CV Databases: A CV database is another important product in online recruitment. Candidates can upload their CVs to the CV database and these CVs are then released to recruitment agencies and employers to view and purchase. There are a number of dedicated stand-alone CV database providers, but many job sites and job boards offer access to CV databases as an additional service to basic vacancy advertising. Search Engine Marketing: Search Engine Marketing is slowly becoming another element of online recruitment for employers. Search engine marketing for online recruitment advertising generally involves utilizing Per-Per-Click advertising on search engines such as Google, Yahoo and MSN to drive potential candidates to careers websites. However, search engine marketing for recruitment does require some specialist knowledge and largely remains the preserve of larger companies and recruitment consultancies. Smaller employers will generally only come into contact with search engine marketing when they engage an online recruiter. Online recruiters: Online recruiters are much like other recruitment agencies: they work with you to create a job specification, look after the advertising, screen applicants and provide you with a shortlist of the best. Unlike recruitment agencies, however, their sourcing techniques are all online. They advertise jobs on job boards, scour CV databases for candidates, and utilize social networks and search engines as recruitment tools. And, typically, they charge a flat fee for their service rather than a percentage of salary. Social Networking: Social networks like Facebook, MySpace, Bebo and professional networks like Linkedin offer employers another way of reaching potential employees. For many employers, their pages on social networks are often simply duplications of their careers websites. However, some companies are using recommend a friend and referral programs to encourage their current employees to promote vacancies to their friends on social networks. Again, however, using social networks to recruit can be resource-heavy and in the current candidate-rich market, it may be more work that it is worth. As you can see, online recruitment covers a wide range of activities in the digital media space. Obviously, success rests with choosing the most effective channel. In an ideal world you could use all of these channels. Realistically, there is seldom enough time for that. With this in mind, we would encourage smaller employers to use job sites and job boards as a starting point in online recruitment. Job boards offer the most cost effective and, perhaps more importantly for small and medium-sized companies, the most time-effective method of recruiting online. There is lots of online jobs website in Bangladesh. Like bdjobs, jobsa1, prothom-alojobs, jobsbangladesh, deshijob, apnarjob, jobsbd and much more. HR department of any company or job seeker search employee or job resume in this site. There are some steps we can follow for online search. They areà ¢Ã¢â€š ¬Ã‚ ¦.. Online Jobs Website C.V Sorting Written Test Interview Other Test Final Selection C.V of new jobseeker: What the HR department of any company do: Every company has a different set of criteria and HR Portal tailors its services and products to meet individual needs. 7.4.3.1 First and foremost, you need to establish what you want. There are three main points of entry into the market: 7.4.3.1.1 Media Buying: This is where you simply seek someone to place your adverts on the right job sites and negotiate the media rates. Sounds easy but in fact it can be a hit and miss affair if your adviser doesnt know the market particularly well. 7.4.3.1.2 Beware: There is a right and wrong way to buy online media advertising. Theres a world of difference between posting your ads to the sites you think are right (because youve heard of them or their name sounds OK) and posting to sites you know are right (because hard quantitative data has proven they yield the best candidates for given jobs). HR Portal has been gathering this hard data for years and updates it daily. It is based on how many candidates respond to each vacancy from each job site. They are now also measuring candidate quality by job site. After all, its better to target a smaller site that will yield a handful of suitable candidates than a bigger player that throws you hundreds of unsuitable people. 7.4.3.1.3 And theres more As a major player in media buying in its own right, HR Portal enjoys economies of scale with the job sites. These cost savings are handed on to its clients, enabling them to buy online media at a far reduced rate than they could achieve alone. 7.4.3.2 Media Buying with Pre-Selection/Sorting: It is advisable to supplement your intelligent media buying with a quick, effective candidate handling process. This way, the true benefits of online recruitment will be realized. A good Application Service Provider will develop and tailor such a programmed to your business: dont just accept the cheapest programmed it is unlikely to be flexible. Make sure it meets your needs. Insist it is tailored to your business and check there will be strong support to get it up and running and maintained. HR Portal is very service and support orientated: experience has shown that partnerships with its clients are far more fruitful than just selling and leaving. Furthermore, HR Portal finds that over time its clients needs change: it is far easier to accommodate any updates and upgrades within an on-going relationship. 7.4.3.3 The Full Monty: Well not literally as in the film, but an impressive display of skills and expertise nevertheless. HR Portal can take a job on from scratch: build the website, develop the candidate assessment and management software, identify the best job sites and post ads to them. By now you should feel more confident about venturing online to recruit staff. Once youve tried it out, youll be unlikely to revert to print-only advertising. Online recruitment can offer so much more in terms of value, efficiency and effectiveness. It is the ultimate in flexible and responsive job advertising. But remember, if a jobs worth advertising, its worth advertising properly. Take time to research your options. Talk to some professionals in the marketplace and go for someone who can prove they have the right combination of media knowledge, buying power and software skills. Finally, make sure they will take time to understand your needs so you can invest in a partnership rather than a simple buyer/seller agreement. 7.4.4 Tips for applying for a position online: Fully research the companys website. Test out the consumer experience on the website, to find out how that works. Dont be rushed to complete the application online in one go. Print out pages if you need more time to complete them. Take time to understand the approach. If possible, complete the form in an environment where you can concentrate. Answer all answers as honestly as possible. You will be asked about the answers you put in the online application in a later interview. Do searches for the company on the web. Get as much independent background information about the company as possible. Having completed the application once, dont fill it out again. This will produce duplicate applications, and will cause embarrassment for you. Make sure the email address you supply is one you check regularly, as employers will want to get back to you and will want a quick response. Write down user name and passwords for graduate websites for future identification. Make sure you have your CV in electronic format. This will save time, as most websites will ask you to upload your CV, and you can cut and paste it into the application form. Before submitting your form, double check you have answered all the questions you intended to, and have not left any gaps. Problems of online recruitment and selection While you may wonder how too many candidates applying for your job could ever count as a disadvantage, it is a fact that dealing with inappropriate, irrelevant and bad candidates is the bugbear of many a HR manager. Candidate spam can waste a lot of time. However, with a bit of thought about what job site you use, how you write your job description and using candidate screening and filtering tools on job boards, it is possible to reduce the number irrelevant applicants. Thats right. Online recruitment wont always work. Not every job vacancy you post can or will be filled online. There will always be difficult-to-fill jobs that can only be filled by recruitment consultants, headhunters or in other ways. However, most companies tend to hire for pretty standard job roles so this is seldom an issue. And with more and more job seekers choosing the internet to look for jobs, and more and more job sites and job boards specializing in ever more diverse areas, those difficult-to-fill jobs are becoming fewer and fewer. Limit the applicant audience as the Internet is not the first choice for all job seekers. Cause applications overload or unsuitable applications if care isnt taken drafting the job profile/specification. Exclude those who do not want to search for a new job online. Limit the attraction of those unable to fully utilize technology certain disabled groups. Give rise to allegations of discrimination, in particular the use of limited keywords in CV search tools. Make the process impersonal, which may be off-putting for some candidates. Impact on the cultural fit dimension of recruitment. Turn-off candidates, particularly if the website is badly designed or technical difficulties are encountered. Lose out on candidates, especially if your own website is below the search engine ranking of your competitors. Base recruitment decisions on subjective information found after trawling the Internet for personal information on candidates. Present problem of recruitment and selection practice in Bangladesh: Bribe in the name of donation Biased recruitment Unfair selection Quota based recruitment Unwillingness to recruit female candidates Political recruitment Recruitment biased by religion, groups and Recruitment biased by religion, groups and ethnic priority ethnic priority Not following a standard system Prospects of online recruitment and selection With more and more Bangladeshi businesses, including small and medium businesses, adopting information and communication technologies, HR managers in Bangladesh are increasingly resorting to online hiring. The benefits of online recruitment are many although there are a few problem areas as well. I am forecast at the costs and benefits of online recruitment. The first and most important forecast of online recruitment is, of course, cost savings. Employing headhunters or advertising in the print media involves high costs. While print media advertising costs are in theory position-neutral you pay the same column-centimeter rate whether you are advertising for top positions or for lower and middle level positions in practice, recruiters tend to spend somewhat more on higher level recruitments and relatively less on lower and middle level positions mainly because they opt for better display ads for higher positions compared to lower and middle level positions On the other hand, costs of hiring headhunters is directly related to the position you are advertising as headhunters charge on a commission-on-salary basis so that the higher the position and salary the higher the costs. In contrast, online recruitment usually almost costs nothing compared to either print media advertising or hiring of headhunters and employers can achieve savings of up to 80% by recruiting through online methods. For example, small Technologies Company in Bangladesh needs argent employees. They needed a chief operating office and he needed him fast. But simply didnt have the kind of money needed to either go for print media advertising or hiring a headhunter. He chose to advertise in his preferred business networking site joba1 or jobbd at a cost of only $1000. And, bingo! They got his man in almost no time. Second, online recruitment facilitates just-in-time hiring. When an organization needs a candidate it can access the database of job portals, screen resumes and send a mass mail. It can also shortlist people based on skills, location, salary and availability and move on to the interview stage. Third, online recruitment offers candidates the advantage of knowing the job profile, responsibilities expected and the nature of the organization, which are well defined at the outset. Regular c