Portfolio Recovery Associates, An Account Executive

I am currently employed at Portfolio Recovery Associates as an Account Executive. I begin working for this company in 2008 as an account representative. Portfolio Recovery Associates strives to be a leader in the consumer debt collection industry. The company is distinguished by continuous innovation, strong customer focus, and cultures of integrity and compliance. The company was founded by four bankers in 1996. Since Portfolio was founded in 1996, it has grown to become one of the largest debt buying companies in the US. Portfolio Recovery Associates buys the debt then reach out to the debtors to try and help them resolve it. Debt collection is not easy job and can be very stressful. While trying to collect the debt we have consumer protection laws we have to abide by. When I started in 2008 there were always rules and regulations that had to be followed but over time things changed, one of the major challenges we had to face was in communication. In the past we were able to use our automated dialer system to call debtors land line, times have change majority of the people have dropped land lines and are now using cell phones. There are laws in place where you cannot call a cell phone using an automated system it has to be done manually. When the law changed it slowed us down dramatically, and it was hard adapting to that change. We went from speaking with 300 debtors a day to 40 which was very hard. We overcame that challenge. Portfolio Recovery Associate had a greatShow MoreRelatedDebt Collection Industry15330 Words   |  62 PagesWWW.IBISWORLD.COM DebtCollectionAgenciesintheUS October 2012 Paying off: Debtors had trouble paying out, but the recovery will return balance to the industry IBISWorld Industry Report 56144 Debt Collection Agencies in the US October2012 EbenJose 2 AboutthisIndustry 18 International Trade 36 KeyStatistics 2 Industry Definition 19 Business Locations 36 Industry Data 2 Main Activities 2 Similar Industries 21 CompetitiveLandscape Read MoreCredit Appraisal and Credit Risk Management13437 Words   |  54 Pagesterms. Credit risk, therefore, arises from the bank’s dealings with or lending to corporates, individuals, and other banks or financial institutions. Credit risk management needs to be a robust process that enables banks to proactively manage loan portfolios in order to minimize losses and earn an acceptable level of return for shareholders. 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The Obstacle Of Organizing Government - 920 Words

The obstacle of organizing government around the environment is that, for the most part, society is too focused on economic growth for the environment to take a precedent. And, as Leopold notes, â€Å"land†¦is still property† (Leopold 218). The environment, or for Leopold the land, is not a global citizen in-it-of itself. Rather, the land is merely a tool for the continued economic growth. Since land has limited legal rights, Leopold sees that humans see no harm in exploiting the environment for capital gain. As such, granting the environment legal protection would, as Leopold saw it, be a better means of conservation efforts. Leopold described a system of ethics that, when applied appropriately, apply to both man and land. Despite defining an ethic as both â€Å"a limitation on freedom off action in the struggle for existence† and â€Å"a differentiation of social from anti-social conduct, Leopold saw little difference between an ethological—the former—and the philosophical—the latter—definitions of an ethic (Leopold 217-218). Both definitions create a sense of cooperation between individuals. However, the issue for the human-land relation is that, currently, ethics is not being applied. â€Å"The land-relation is still strictly economic, entailing privileges but not obligations† (Leopold 218). As Leopold saw it, mankind understands the need for the natural world, so there exists a limited sense of respect. However, unlike the ethics shared between human beings, the rights of land are notShow MoreRelatedAn Implementation Of A Community Intervention812 Words   |   4 Pagesissues) to be addressed by the group. In this paper, Vanessa and Sydney together will contribute to the impact of the organizing issue. 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Human Resource Accounting Free Essays

â€Å"Research Proposal† Topic : Human Resource Accounting as a Measurement Tool: Asian Perspective Submitted By: M. Rizwan Arshad. Lecturer Department of Management Sciences The Islamia University of Bahawalpur. We will write a custom essay sample on Human Resource Accounting or any similar topic only for you Order Now PhD Research Proposal of Mr Rizwan Arshad Human Resource Accounting as a Measurement Tool: An Asian Perspective Attempts to account the Human Resource are not new it was Rensis Likert (1963), who initiated research into HR accounting in the 60’s. He stressed the importance of long term planning of Human Resource qualitative variables that results in greater benefits in the long run. The resource theory considered that the competitive position of an organization depends on its specific asset, which is the HR. This explains why some firms are more productive and successful than others under almost similar conditions and similar industry. It is the HR that makes all the difference. Following a less fruitful research period (Grojer and Johanson, 1998: 495) one could have expected interest in the area to wane but on the contrary, it has experienced something of a revival. When anyone wants to know the history of HR accounting, most reviewers such as Grojer and Johanson (1998) agreed that during the first half of the 1970s it was one of the most researched subject within accounting, consuming a vast amount of academic Endeavour. Human Resource is not just the number of pairs of hands engaged in any organization. HR is above the simple number game. HR may be though of as the total knowledge, skills, creative abilities, talents and aptitudes of an organization’s work force. It is the sum total of inherent abilities, acquired knowledge and skills of the employees. Why HR accounting is considered as important and who is the focus of this research? HR accounting is a term that has both a narrow and more generic focus in the literature with respect to the understanding of the value of people in the contemporary workplace and the contribution of the HR function. Defined narrowly â€Å"It is the process of identifying and measuring data about HR and communicating this information to interested parties†(American Accounting Association, 1973, as cited in Flamholtz, 1999: xii). This definition suggests that HR accounting is a tool that can be used for reporting people as organizational resources in both financial and managerial accounting terms (Flamholtz, 1999) The objective is to quantify the economic value of people (Sackman et al, 1989:235). According to Sveiby (1997) attempts to convert people or competencies into financial figures, although theoretically interesting, have not proved entirely useful to managers. The use of both financial and non-financial approaches is now a more common theme when discussion focuses on the nature of HR accounting. The reason for this is that HR accounting should be thought of as a set of techniques that provide a more balanced perspective, encouraging as much concern about the long-term drivers of financial success as about current performance and value. Consequently, the literature has adopted a wider brief when describing its nature. Some writers (Lester, 1996; Sheedy-Gohil, 1996; Skittle, 1995) claim that the level of knowledge-based assets of an organisation gives a clearer indication of the potential for future profitability than do traditional historical accounting measures. Therefore, the rate of change in knowledge-based and other intangible assets must be included in any meaningful measure of profits. However, a review by Scarbrough and Elias (2002) suggests that, as an asset, human capital is precarious in terms of its potential mobility and difficult in terms of its measurement. So narrowly defining HR accounting has distinct limitations because the measurement of HR in whatever guise then becomes reliant on a purely financial metric that invariably involves debate about asset models and cost-benefit analysis. Here, we adopt this broader notion, embracing both a range of financial and non-financial measurements associated with Human Resource Management. MEASUREMENT PITFALLS AND THE ACCOUNTING IDEOLOGY Measuring human resources has been viewed as proceeding rather slowly because its advocates always seem to be in the minority (Turner, 1996). Despite this, research has, over the past decade, been substantially measurement-oriented (Johanson and Larsen, 2000). Numerous studies report advances in measurement approaches, case studies of developing practice and the growing support for techniques such as the balanced score-card (eg Boudreau, 1998; Fitz-enz, 2000; Flamholtz, 1999; Flamholtz and Main, 1999). These achievements may have been somewhat overshadowed by research that has, quite necessarily, been preoccupied with debating a range of measurement concerns including the old arguments that will continue to be debated long into the future. The first of these arguments concerns the capitalization of HR and the debate surrounding whether human resources qualify or can appropriately be labeled as assets notwithstanding the competing view that there may be little substantial difference between intangible and tangible assets with no reason to treat one differently from the other (Boudreau, 1998; Johanson and Larsen, 2000; Mirvis and Macy, 1976; Turner, 1996). There has also been the need to discuss what Human Resource measurement system should be designed to achieve, bearing in mind that measurement is not neutral and the choice of metrics conveys values, priorities and a strategic framework (Boudreau, 1998: 24). The dangerous liaison between human resources and accounting and the pitfalls of measurement requires a delicate balancing act juggling the multiplicity of often unlinked measures with the need to provide information that is oing to be effective in guiding and managing behavior (Pfeffer, 1997). Similarly there has also been a need to debate whether the accounting paradigm has been re-conceptualized (Mayo, 2000) to account for the new economic transformation (Flamholtz and Main, 1999: 11). This involves accounting requirements that move beyond the accepted role of custodial and financial accountability into the realms of fiscal, social and environmental accountability. (Turner, 1996: 71). This involves a shift in thinking from human asset to human worth (Roslender, 1997) emphasizing a more holistic approach which embraces a broader range of social scientists thinking (Roslender and Dyson, 1992: 312) and allows for exploration in the realms of soft accounting numbers (Roslender, 1997: 22). Complying with orthodox management accounting conventions runs the risk, argues Armstrong (1989, 1995), of not only challenging the role but having to justify all HR activity in cost-effectiveness terms, thereby handing to others outside the function the decision as to what initiatives be given priority. This strategy cedes too much to the dominant accounting culture and may also, in the end, achieve little security for the personnel function (Armstrong, 1989: 160). What is needed, suggests Armstrong (1989: 160), is for HR practitioners to master the accounting approach to the point where they can clearly identify its shortcomings, thereby putting themselves in a position to focus on the inadequacies of accounting projections as an exclusive basis for managerial decision-making, especially where HR are concerned. By exploiting such shortcomings, HR practitioners can, suggests Armstrong (1989), further their cause by offering alternative strategies that emphasis that traditional accounting valuations are only one of a number of ways of establishing the value of HR. It is the politics of measurement and its likely impact on the HR function that dwarfs all others argues Pfeffer (1997). Shrewd HR leaders are already training their people in a range of measurement strategies in order to prepare them to do battle on more favorable terms with the number of people in the firm. All of these debates, including the ethics of even attempting to measure the worth of HR have one goal in mind: to develop a means of valuing that captures the very nature of the worth of people and reports it in a way that not only allows for the development of the people themselves but the added value (worth) that they contribute to the organisation. Consequently, understanding why HR accounting is important, to whom it is important and its links with organizational and HR strategies will provide a context for benchmarking the level of support for measuring HR and how far that support has been integrated into the thinking of different managerial groups and organizational strategies. This is what we set out to achieve. Methodology Data Collection The sample will be drawn from the organizations in Pakistan from the top industries working in local economy. Questionnaires will sent to a random sample of 20 members from each organization. For the purpose of gathering data survey-questionnaire approach will be used. The research will carried out in three phases. Phase 1 involved item generation, for that section of the questionnaire concerned with the importance and measurement of HR. A focus group of 50 people from different organizations will ask to discuss a number of questions. The content analysis of this information is use in developing the important measure of the questionnaire. In the second phase the draft questionnaire will sent to a group of 20 HR managers organized through a network of one of the senior managers who was part of the original focus group. Each participant will asked to go through the questionnaire and write any comments relating to any particular question or questions in the right-hand margin available in the copy of the questionnaire. The emphasis in this phase will, as explained to participants, to find out whether they thought any of the questions are ambiguous or whether parts of the questionnaire could be improved. All the comments received related to the background information of the questions and a number of modifications will made to this section. In third phase the questionnaire will distributed to the sample groups described above. Research Questions †¢Why it is important to evaluate HR? †¢Why organizations are not measuring HR? †¢How HR can be measured? †¢How often are measures taken and reviewed? †¢Who develops and collects HR information? †¢Whether human resources qualify or can appropriately be labeled as assets? Does the level of Knowledge-based assets of an organization give a clearer indication of the potential for future profitability than do traditional accounting measures? †¢Does it is possible to develop a means of valuing that captures the very nature of the worth of people? †¢Does it can be used for the development of the peoples in the organization? †¢Does HR accounting add value (worth) that HR contributes to the organization? Pot ential Outcomes †¢If the firm can effectively calculate the value of HR and add their value to firm’s assets, it will increase the book value of the firm’s shares. An index can be prepared for different industries and firms can compare their HR value to the industry standard and with the other firms present in the same industry. †¢The budget for the Training and Development can be justified. †¢Firms can evaluate the results of Training and Development by comparing the value of HR before and after training and development session. REFERENCES Armstrong, P. (1989). Limits and possibilities for HRM in an age of management accounting’ in New perspectives on Human Resource Management. J. Storey (ed). London: Routledge. Dasgupta. N. â€Å"Human Resources Accounting† Sultan Chand Sons New Delhi 1980. Flamholtz, E. G. and Main, E. D. (1999). `Current issues, recent advancements and future directions in human resource accounting’. Journal of Human Resource Costing and Accounting, 4: 1, 11-20. Johanson, U. (1999). `Why the concept of human resource costing and accounting does not work’. Personnel Review, 28: 1/2, 91-107. Lester, T. (1996). `Measuring human capital’. Human Resources, 24, 54 . Mayo, A. (2000). The Human Value of the Enterprise, London: Nicholas Brealey Publishing. Mirvis, P. H. and Macy, B. A. (1976). `Human resource accounting: a measurement perspective’. Academy of Management Review, 1, 74-83. Pfeffer, J. (1997). `Pitfalls on the road to measurement: the dangerous liaison of human resources with the ideas of accounting and finance’. Human Resource Management, 36: 3, 357-365. Prabhakara Rao D, â€Å"Human Resources Accounting† Inter-India. Publications New Delhi. 1986 Sveiby, K. E. (1997). The New Organizational Wealth: Managing and Measuring Knowledge-based Assets, San Francisco: Berrett-Koehler Publishers Inc. Turner, G. (1996). `Human resource accounting wisdom? ’ Journal of Human Resource Costing and Accounting, 1, 63-73. How to cite Human Resource Accounting, Essay examples

Conceptualisation of Management and Leadership †Free Samples

Question: Discuss about the Conceptualisation of Management and Leadership. Answer: Introduction Motivation is the course of action of an individuals needs and desires and with the help of motivation, an individuals path could easily be changed. In organizational context, this term is crucial in various aspects as it helps the management to deal with its employees in an effective manner. Motivation could be provided in monetary terms or by fulfilling employees needs and desires within the workplace. A constant effort is made by companies for sustaining in the market and in the competitive world. Most organizations are working hard to get it right and remain on top. Management doesnt know the satisfactory valuation of their performance. A lot of methods, models and framework for showing units assessment create a stress for an organization as they have to select the path that is same as the philosophy and believe of an organization. Effectiveness and efficiency the most important points to be considered for the performance of an organization. The words Effectiveness and efficiency sound different to managers but as per Chester Barnards these two are same words to remain successful (Fernndez, 2010). Performance of Organizations mostly judge by the effectiveness. Mission, goals and vision is the main focus they want to achieve. Organizations judge their performance as per their employees efficiency. The desired output is achieved by the finest use of resources. The point to be noticed is the difference of whether the organization is effective or efficient or vice versa. Is it important to highlight the differences? The main aim of this discussion is to view the performance of an organization on the basis of effectiveness and efficiency. The objectives: The efficiency and the effectiveness concepts Differences and proximities between effectiveness and efficiency. About Chester Irving Barnard The American business manager Chester Irving Barnardwas a pioneer in generating theories of management and studies about organizations. The book named The Functions of the Executive discusses about the organizational theories and the executives function in a firm. This book is used in many university courses as organizational sociology and management theory. He said the organizations are a result of corporation of human activities and discussed the causes of organizations short living. As per Barnard the necessity of organization is its efficiency and effectiveness (Malcolm Tabor Hartley, 2010). The theory of contribution and inducement are main component of Chester Barnards views management theory. The theory of Inducement-Contribution is not as complex as it looks. It is basically very simple and basic theory that talks about motivation. Cooperative system is the other name of an organization according to Chester Barnard (Nienaber, 2010). Efficiency versus Effectiveness Can an organization can be efficient without being effective? To get the answer lets discuss on the topic Effectiveness versus efficiency. The terms have a same meaning when it comes to manger but when it is considered from the point of view of success. Effective Efficient Doing the right things Doing things right. Chester Barnards says that the companies are worried about only the quality, output, innovation, sales, creation of value added, cost reduction. These are considered major points to be considered for the success of a company in economic and social grounds (Isomura, 2010). While reaching to the desired destination on behalf of the organization, it is must to analyses the effectiveness and efficiency of the organization along with the capabilities of employees. Chester Barnards considered the Social Transformations in Contemporary Society to choose the staff and leader of the organization, employees identification in organization, decision making, and psychological attachment consideration (Novicevic, Hayek Fang, 2011). Chester Barnards is in favors of changing staff attitudes in an organization for the level of maturity they have. Effectiveness is closely associated with the concept of human capital management. According to him goal achievement and mission fulfillment can be done by organizational effectiveness. Organizational effectiveness can be enhancing by better correspondence, association, initiative, heading, flexibility and positive condition. Chester Barnards has originated the idea of Total Productive Maintenance, which has been generally connected in the plants and secured the whole existence of life in each office including assembling, upkeep, and arranging (Fugate, Mentzer Stank, 2010). The structure permitted valuing general execution of the plant, since it secured: Entire capability (profitability, quality conveyance, wellbeing, social obligation and ethics); Entire support basis (upkeep counteractive action framework, viability change); Entire investment of the workers (the expansion of the capability of the plant relies upon the inclusion of the staff, paying little attention to the office they have a place with). As indicated by Chester Barnards, framework of Complete Productive Maintenance could be connected as a device, it cannot be used as the procedure to promise operational possibility for leaders. Barnard worried the way that effectiveness management instruments and procedures, for example, benchmarking, time based rivalry, outsourcing, collaborating are gradually replacing the strategy (Haas, et. al., 2011). It is an aftereffect of organizations mismanagement which result in failure to convert their goals into supportable productivity. Efficiency makes link amongst output and input or how effectively the input are changed into fruitful output. To increase the output, the Total Productive Maintenance framework by Porter proposes the removal of six misfortunes, which are: decreased yield from start up to stable generation, process faults, decreased speed, sitting and minor obstacles, set-up and change and apparatus disappointment (Chiou, Lan Yen, 2010). As indicated by Chester Barnards there is a contrast between organizational efficiency and business effectiveness. Business effectiveness reveals the execution of input and output proportion, whereas organizational efficiency reflects the change of interior process of the organization. For example: culture, structure and group of organization. Incredible organizational efficiency could uplift substances execution as far as efficiency, administration, quality and gainfulness. The Chester Barnard presented seven measurements, for the estimation of organizational efficiency: Procedure of organization; ''Social Transformations in Contemporary Society'', 50 Business structure plan; Business and management framework building; Development of worker and corporate styles; Motivation of employee duty; Development of representative's aptitudes; Objectives of subordinates (Green, Skerlos Winebrake, 2014). Efficiency and effectiveness are considered as different, yet, in the meantime, they are correlated with each other. And it is essential for the management to acquire success in both the zones. Chester Barnards propose that ROA is a right measure of organization success, since it uncovers how gainful associations resources are in creating incomes. Total resource turnover proportion measures the efficiency of an organization in order to utilize its benefits for skillfully creates deals; in this way it can be dealt with productivity as well. Net revenue proportion is a pointer of an organization's prizing procedures and indicate its controls the expenses, likewise it is a decent measure for bench marking methods; in this manner it could be called effectiveness. Therefore, general performance can be estimated by evaluating the effectiveness and the efficiency. Efficiency is about asset distribution crosswise over variety of uses. Efficiency is not the only criteria to measure organizational success in the competitive and dynamic business environment. All the relevant aspects should be considered while determining the organizational success. Effective yet inefficient If an organization is effectively managed but because of the poor operational administration, outcome originated will not match as per the expectations. Ineffective and inefficient association along with the inappropriate usage of resources will lead to enhance the cost of production. In relation with attainment of organizational goals and objectives, it is necessary for the management to manage its resources and employees efficiency in an effective manner so that optimum utilization of available resources could be done. This will help organization to enhance its market share as well as customer base. In order to remain in the competitive business market, it is necessary for the organization to create its base strong. Along with the base, utilization of available resources should also be taken care. This is significant because the organizational performance is based over four pillars i.e. context, relevant, structure and content. Until, these four basic pillars will not be followed, organization will not be able to manage its works as per the expectations. Thus, desired destination will remain unreached due to which efficiency of the organization decreases (Tajeddini, Elg Trueman, 2013). Cost inefficient associations don't have an appropriate asset distribution management system. Though, such associations have great plans regrading to general achievements as well as to uplift organizational image in the target market. Apart from this, cost has been considered as the most crucial aspect for attaining success and desired goals in the market. It is necessary for the organization to manage its operations and implement certain controlling and monitoring measures with relevance to manage the work in an effective and appropriate manner. Thus, it could be analyzed that effectiveness and efficiency, both are crucial aspects for an organization. This helps the organization to utilize available resources in an appropriate manner in order to attain desired goals and objectives within the workplace. Conclusion Effectiveness and efficiency are considered as the crucial aspect of organizational assessment. Effectiveness is a broader concept under which employee satisfaction, quality; value added services, output and social and economic environment interaction, etc. factors plays crucial role. In order to enhance organizational efficiency, it is necessary to enhance output with the help of available resources. Efficiency and effectiveness are considered as crucial aspects for an organizational success but at the same time, both these terms impact each other. References Chiou, Y.C., Lan, L.W. and Yen, B.T., 2010. A joint measurement of efficiency and effectiveness for non-storable commodities: Integrated data envelopment analysis approaches.European Journal of Operational Research,201(2), pp.477-489. Fernndez, S., 2010. Re-discovering Barnard: the functions of the leader? Highlighting Chester Barnard's contributions for the twenty-first century business executive.Journal of Management History,16(4), pp.468-488. Fugate, B.S., Mentzer, J.T. and Stank, T.P., 2010. Logistics performance: efficiency, effectiveness, and differentiation.Journal of business logistics,31(1), pp.43-62. Green, E.H., Skerlos, S.J. and Winebrake, J.J., 2014. Increasing electric vehicle policy efficiency and effectiveness by reducing mainstream market bias.Energy Policy,65, pp.562-566. Haas, R., Resch, G., Panzer, C., Busch, S., Ragwitz, M. and Held, A., 2011. Efficiency and effectiveness of promotion systems for electricity generation from renewable energy sourcesLessons from EU countries.Energy,36(4), pp.2186-2193. Isomura, K., 2010. Barnard on leadership development: Bridging action and thinking.Journal of Management History,16(2), pp.216-232. Malcolm, S.B. and Tabor Hartley, N., 2010. Chester Barnard's moral persuasion, authenticity, and trust: foundations for leadership.Journal of Management History,16(4), pp.454-467. Nienaber, H., 2010. Conceptualisation of management and leadership.Management Decision,48(5), pp.661-675. Novicevic, M.M., Hayek, M. and Fang, T., 2011. Integrating Barnard's and contemporary views of industrial relations and HRM.Journal of Management History,17(1), pp.126-138. Tajeddini, K., Elg, U. and Trueman, M., 2013. Efficiency and effectiveness of small retailers: The role of customer and entrepreneurial orientation.Journal of Retailing and Consumer Services,20(5), pp.453-462.