All entries for January 2009

January 06, 2009

Financial Simulation – very useful

I've studied the financial module for two days so far. Although, my first degree involved some modules about accounting and finance, i totally almost forget. This module help refreshing me a lot. I was a production manager. Actually, along the way we played the simulation, i kept asking myself how can i be better for the role because i hv not much idea how to do it. When the simulation ended i think to be more effective and efficient production manager, i should be able to foresee what will be happpened... because when my group result came out i found that if i could think about changing a machine to produce other products, our company would get more 50 million dollar. However, going bankruptcy is not the point of the simulation, i think what i and also my classmate have learnt about it is how to deal with the change because i think not everybody used to play the role the got before and also whatever failure we faced is a great lesson of our learning process as well.


January 02, 2009

the second day of 2009 ;P

Finally, it's 2009. I'm doing one of assignment which is about organization, performance and people. A company which is used to be a case study is Generl Electric. To be honest, before i learnt this module, i dont know much about the company but just knew that it's an international company which pay a competitive package to its employees in Thailand and in another way people in the company have to work hard. After l studied about the company for a while that make me known that why the company has successed and why its people has to work hard. One performance appraisal method of GE is Forced Ranking. Actually, it has many names such as Vitality curve or Forced distribution. This may been seen as crucial way to evaluate employee but in turn the former CEO of GE told that it make the unperformed staffs know that they may not be suitable for the positiion they currently are at.

For me, from my experience, especially in my homecountry traditional working culture, politic issue can influence the performance appraisal process. At that time, i heard from my colleagues who told me that he thought it was not fair to avarage a performance score because the managment level has limitation of budget to reward employees. This is because the management didn't evaluate the employees' performance honestly and some employees doubted about that. Finally, it made my colleague had no motivation to work.

What i've learnt from this module is a connection between these three words...  

ps. Happy new year to everybody :)


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