Economics Essay Example | Topics and Well Written Essays - 3000 words - 5

Economics - Essay Example Friedman’s main argument is that tax cuts and little or no intervention by the government in regulating private enterprise would help entrepreneurs to produce more at a lower cost. Thus consumers would benefit from plenty of cheaper goods. However conservative economics has acquired a newer dimension in that the absence of concern among conservative economists for environment related problems is changing for better. Karl Marx, the German political thinker, is better known for his ideological premises expressed in his treatise Das Kapital. Marxian economics is based on these thoughts, though most of his teachings are basically centered on the perpetual conflict between the bourgeoisie and the proletariat. His economic thoughts though aren’t substantial are concerned with how working classes are able to run the country’s economy with fair play and social justice. When all productive resources are controlled by the proletariat a comparative cost/benefit analysis is not possible. This paper takes the free market appraoch as the point of refernce for comparative analysis. Market forces, demand and supply, move in opposite directions with respect to price changes. When the price of a good is high the demand for it is less while the supply of it is greater. This is economic sense but nevertheless this positive economic statement about the predictable behavior of the consumer does not hold true when the demand patterns for Giffen and inferior goods are factored in. For instance when income, of the individual consumer, rises his demand for inferior goods such as potatoes, would rise. This is because the consumer’s purchasing power increases when his real income increases. Consumer sovereignty principle illustrates the fact that in a free market economy the consumer is free to consume what he wants. However, the consumer’s sovereignty does not have meaning if he/she is unable to buy what he/she wants. This paradox

Research design Essay Example | Topics and Well Written Essays - 1500 words

Research design - Essay Example 3. Aims of the dissertation To carry out a thorough investigation into the degree of security outbreak in the Oil Region of Niger Delta To determine the extent of damage of the outbreak of security has caused the Oil Region of Niger Delta To identify the individual roles of stakeholders such as government, the legislature, the military, civil society, private security companies and the international community and how far these roles have been played in solving the security problem of Niger Delta Oil Region. To propound theories on how the individual roles of stakeholders can be brought together to facilitate the improvement of security in Niger Delta Oil Region 4. Dissertation’s position in the existing literature The issue of improving security in the oil-rich Niger Delta Region of Nigeria has been tackled from an individualist point of view over the years whereby stakeholders such as government, civil society and the international community have worked independently to impro ve security. The role of government in solving the problem is for instance seen in the presidential campaign of 2011 whereby candidates are making campaign promises to the effect that when voted into power, they will help curb the problem. The incumbent president, Goodluck Jonathan is for instance quoted by Tribune (2011) as saying â€Å"his government has introduced a series of new anti-terrorism measures, including better control of explosive materials, inspections of police-licensed armouries and the installation of closed-circuit televisions to better monitor public places† to ensure security in the region. With regards to the international community, the BBC News (2008) reports of Gordon Brown saying the best way to tackle the problem is to "identify a training and advisory support package" and that Britain is ready to help Nigeria in that regard. Most researchers embrace the individual responsibilities of stakeholders in solving the problem. Whiles tracing the root of t he security problem in Niger Delta to uneven distribution of oil wealth, Crane (2006) puts a lot of the responsibility on government alone saying once government ensures fairness, security would improve. The context of this research however refuses to single out one stakeholder in curtailing the situation. The basis of this research is rooted in the fact that no one stakeholder can handle the problem independently. Evidence of this claim is in the failure for the individual stakeholders to achieve security since efforts to ensure security started years back. In a Whitepaper released in the 2007 on Oil Transparency in the Niger Delta for instance, report is made of how individual stakeholders; especially government have put in place measures to curtail the problem of security to no avail. It is reported for instance that In January 2001, the government through an Act of the National Assembly established the Niger Delta Development Commission, ostensibly in response to lingering accus ations of neglect of the Niger Delta. (Sofiri, 2007, p.20). It is pathetic therefore that the problem still persists. The research therefore seeks to agree with collaborative effort by all stakeholders as in the assertion made by Junger (2007) suggesting that to stop the war, there should be included restitution for the environmental damage wrought by the oil industry, greater control over oil revenues for local government, and development aid to improve living conditions in the delta (Omeje,

Strategic And Coherent Approach To Management Commerce Essay

Strategic And Coherent Approach To Management Commerce Essay Human Resource Management is defined as a strategic and coherent approach to the management of an organisations most valued assets the people working there who individually and collectively contribute to the achievement of its objectives. (Armstrong, 2006) Businesses of the 21st century call upon the HR to play a greater role in achieving their objectives. HR is an indispensible tool in the successful working of any organisation and it is essential to incorporate HRM strategies in the planning of the organisation to attain its goals and objectives. Organisations now have to deal with a fast changing environment to which they need to respond quickly and innovatively while being constantly faced with a greater amount of risk than ever before. They are constantly searching for and implementing various survival strategies in this highly competitive and dynamic business world. In order to maintain a sustained effort for betterment, organisations now need to recruit people, who can find creative and intelligent solutions. Thus, the employment of an effective HR strategy that develops the organisations people is essential to facilitate the necessary changes within the business. Role of HRM: Any organisation needs to set goals for itself and strategize how these goals are to be achieved and then structure itself by deciding whom to allot this responsibility. The responsibilities of the HRM or the functions carried out by them within the organisation can be enlisted as follows: HR Planning: It is the practice by which the HRM reviews the supply of employees. They review whether the firm requires to recruit further or to reduce the number of employees depending upon the status of the firm. Job Analysis: This is the process by which the HR examines detailed information about jobs. Every available job in the firm and advertises for recruitment purposes accordingly, so as to attract skilled people. Recruitment: The HR, having advertised for jobs, receives a number of applications from which they identify and recruit suitable employees for the firm. Orientation: Once the recruitment process is over, the HR begins an induction program during which the new recruits are informed about the organisation, their background, their working methods and ethics, as well as introduce them to the other members of the organisation. Training: The next step is the development and training of the employees to equip them with technical skills, interpersonal skills and problem solving skills in order to enhance their performance and increase productivity for the company. Share Information: It becomes the responsibility of the HR to ensure that information is shared uniformly with all employees to increase their knowledge base. Appraisals: The HR evaluates the performance of the employees in periodic intervals through various methods, such as, multiple comparisons and feedbacks from co-workers and supervisors. These appraisals form the basis of the employees promotions, pay rises and other incentives. Motivation: In order to ensure the employees put in their best efforts in their respective jobs, the HR devises ways to sustain the interest of the employees and encourage them in contributing more and more to the firm. Maintain Welfare: The healthy maintenance of any organisations human resource largely depends on the working conditions, comforts and facilities provided to its employees. The HR plays a vital role in this area. They are to be readily available and pay heed to the needs of the employees, analyse their problems and find solutions to them. Retain Talent: This is done through career development, providing job security, compensation programs and skill based pay. Derecruitment: The HR discharges incapable employees to keep up with the requirements of an ever changing business environment. Labour Relations: One of the most significant roles of the HR is to ensure the smooth functioning of the firm and preventing strikes by the employees by maintaining good relations between the management and the employees. The HRM is therefore, responsible for managing the people of any organisation, as assets of that business and harmonizing their capabilities with the needs of the organisation. They encourage team spirit and coordination for smooth functioning of groups of people within the organisation. They play a key role in ensuring a long-term and sustained competitive advantage for any organisation. They are able to acquire this when the highest amount of value added is achieved by the employees and by creating a culture of innovation that is unique to the organisation. As the HRM employs methods that lead to high performance work systems, the beneficial results can be seen on the employee and the organisation end. As the employee is more involved in the organisation and grows in experience, he gains by way of job satisfaction leading to efficiency in work performance. Thus, the organization benefits as the productivity levels go up, the quality improves, more flexibility is infused into the system and finally the customer is satisfied. However, it also becomes the responsibility of the HRM to assume a more professional role, to maintain its honesty and integrity and keeping in mind at all times the interests of the customers and the employees alike. Strategic Goals and Objectives of any Organisation: Every business creates a vision for its future in order to ascertain its both short term and long term goals. This requires creative imagination. It is the strength of this imagination that powers the entire business process. However, a clear definition of the goals is required to be made in order to ensure that these objectives are attained. One of the most important goals is the performance objective and the individual performance strongly needs to be integrated with the objectives of the business. This is where the HR comes in. It is their responsibility to bring out and relate an individuals performance objectives to the performance objective of the business. While the HR challenges are greater than ever before, so too are the opportunities of the companies to excel through people strategies. (Strack et al., 2008) Competitive advantages may come from 2 kinds of sources in any organisation: Traditional ways/sources of competitive advantages Financial/economic Product capabilities Technological capability Organisational capability Generic strategies for gaining competitive advantages Cost leadership Product differentiation Search others Human Resource Management can be used to gain Competitive Advantage: The idea that individual employee performance can impact the performance of the firm positively has been studied for decades. However, the study has moved forward and put forth the notion that all the employees of a firm can together give a higher competitive advantage and bring about a greater improvement on the firms performance. This is possible only when a number of criteria are satisfied, namely, the employees are adding positively to the production, they have a unique talent or skill to offer and more importantly, the employees are not subject to replacement or substitution by technology. It is argued that employees are usually not working at their optimum levels and hence are underutilized. The HRM can play a significant role here in bringing them up to efficient levels and utilizing their potential to the optimum level by facilitating comfortable working conditions, motivating them, developing their skills and providing enhanced product knowledge through regular training, providing an organized structural base and give some amount of independence in their working and a flexible culture within the organization. This is sure to increase the output of the employees over and above the cost of such provisions. Further, the HRM can ensure better performance of the employees at the initial stage through careful selection and recruitment of qualified and skilled individuals. These skilled employees can turn out to be unproductive too unless provided with sufficient motivation. The HRM can again, motivate the employees to work harder and better by providing them with incentives that are linked to performance, which is assessed on a regular basis through evaluations of individual or groups of employees. Incentives may be provided in the form of promotions. Again, an organized structural base can be provided through tools such as, cross functional teams, job rotation and greater participation by allowing them the opportunity to freely use better ways of working. Thus, if the HRM can affect or influence the performance of the employees to maximize their output, they are in turn, improving the performance of the organisation and increasing their productivity. How is theory linked with practice? Explain with examples. The HRM today is not only responsible for managing teams of employees but also, for diversity both within the organisation and outside, constant change and increased globalisation. This is not an easy task. The HR when faced with resistance to adapt to change, ignorance by the policy makers as well as political considerations, finds it hard to employ the best HR practices in real terms. Amongst other challenges faced by the HR, we can mention those involving getting the people to accept change. The HR deals with resistance when bringing about any changes in the working methods, attitude of workers or values of the organisation. Moreover, globalisation has resulted in multicultural backgrounds of employees that pose a new kind of challenge for the HR, wherein they need to develop strategies catering to the needs of each of them. How HRM will help in developing organisational culture? Organisational Culture Focus on innovative and flexible environment The HR integrates the needs of the organisation with those of the employees and helps in developing the organisations culture by creating a positive attitude amongst the employees. Factors which the management should consider: Effective HR practices play a significant role in the economic growth of any country. In my opinion, the management needs to keep in mind that their actions have a macro level effect. The policies and training provided by them to the employees not only contribute towards the specific concern they are currently working for, but towards the nation as a whole. They are preparing individuals for the future. The professional development acquired by the employees at any particular firm carries forward to the next employment as well and remains with them for years to come. Hence, with their inputs and efforts, the HRM is not only enhancing the performance of the individual firm, but is augmenting the nations economy. Conclusion: Thus, we may conclude that organized HRM can provide a sustained economic growth and a competitive advantage when aligned with the strategic business plans of a company. à ¢Ã¢â€š ¬Ã‚ ¦ can be placed elsewhere as per need. à ¢Ã¢â€š ¬Ã‚ ¦ a misfit here I dont see the need or connection with the topic

Colombian Revolutionary forces Essay -- essays research papers fc

In Columbia there are five main purveyors of violence, the FARC-EP (Revolutionary Armed Forces of Columbia, People’s Army), the ELN (Army of National Liberation), the AUC (United Farmer Self Defense Group), the Columbian National Army, and the Narco Mafias. The FARC-EP is perhaps the most dominant, and violent of all the groups. The FARC-EP controls a zone roughly the size of Switzerland in the Southern part of Columbia. The FARC-EP considers the zone to be â€Å"A laboratory of peace (1),† while many, consider it to be a â€Å"zone of fear (2).† The FARC-EP kidnapped over 700 people in their zone in 2000 (2), these people, for the most part are the people that the FARC-EP is supposedly fighting to free. The ELN is also involved in many kidnappings and civilian killings, not to mention drug trafficking. The AUC, which was originally formed to combat guerilla movements, has almost became a guerilla movement in and of itself, â€Å"†¦the government calculate s the AUC now kills more civilians than the main guerrilla army it was founded to combat (3).† The AUC works hand in hand with the Columbian National Army, something for which the Columbian National Army has come under fire for in recent months. The Narco Mafias, though they are extreme perpetrators of many violent episodes in Colombia, lack a political agenda, and are only concerned with the production and transport of narcotics. Can any of these violent groups be considered as terrorists? According to the FBI, terrorism is â€Å"the unlawful ...

Economic factors affecting food choice Essay

The aim of this research is to find the economic factors that affect a person’s food choice for example the amount of disposable income, family size and spending patterns. This then helps us to decide a suitable dish for our chosen practical. This research helps understand the relationship between quality of diet and disposable income and how are eating patterns have changed from the past. Disposable income The amount of money left after tax and other deductions have been made is called the disposable income. The amount of money spent on food cooked at home has declined even though the disposable income has risen since the 1980s. Disposable income affects the food you eat because you tend to eat out more frequently, spend more money on premium ranges of ready prepared foods and shop at more expensive supermarkets and specialist shops if you have more disposable income. However families with less disposable income tend to spend more on convenience foods and snack foods. It takes careful budgeting and shopping around for cheaper prices to provide healthy meals for low income families. Family size and spending patterns Family size also affects how much you spend on food because declining family size and an increase in single person household has led to a change in patterns of spending on food as couples and single adult households spend more per person on food. Whereas due to larger families having young children with smaller appetites less is spent per person on food, also because less food is wasted in larger families. Larger families may also buy in bulk or shop around for cheaper prices or offers such as three for the price of two and buy one get one free. There is an increase in single person households because of an ageing population where there are more elderly people than young people in a population and due to more young, single people living alone.

Qwl Journal of Management and Business Research

Global Journal of Management and Business Research Volume 12 Issue 18 Version 1. 0 Year 2012 Type: Double Blind Peer Reviewed International Research Journal Publisher: Global Journals Inc. (USA) Online ISSN: 2249-4588 & Print ISSN: 0975-5853 Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh By Mohammad Baitul Islam East West University (EWU, BD) Abstract – Quality of work life is a critical concept with having lots of importance in employee’s life.Quality of work life indicates a proper balance both in work and personal life which also ensure organizational productivity and employee’s job satisfaction. This research study attempted to find out the factors that have an impact and significance influence on quality of work life of employees in private limited companies of Bangladesh. To begin with the factors are identified through literature review and current context of Bangladesh. Seven factors were found and a quantitative research was done. After developing a questionnaire, survey was conducted among 100 employees.The outcome of the research is that six out of seven factors (work load, family life, transportation, compensation policy and benefits, working environment, working condition and career growth) have significant influence on quality of work life. The study concluded that an appropriate organization culture, compensation policy, career growth and relative facilities can leads to a satisfied employee mindset which ensure the overall organization productivity. Keywords : Quality of work life, Job satisfaction, Organization Productivity, Career, Organization Culture, Relative Facility.GJMBR-A Classification : FOR Code: 150305, 150311 JEL Code: J28, O15 Factors Affecting Quality of Work Life An Analysis on Employees of Private Limited Companies in Bangladesh Strictly as per the compliance and regulations of:  © 2012. Mohammad Baitul Islam. This is a research/review paper, dis tributed under the terms of the Creative Commons Attribution-Noncommercial 3. 0 Unported License http://creativecommons. org/licenses/by-nc/3. 0/), permitting all non-commercial use, distribution, and reproduction in any medium, provided the original work is properly cited.Business Management Study GuideFactors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh Mohammad Baitul Islam Abstract – Quality of work life is a critical concept with having lots of importance in employee’s life. Quality of work life indicates a proper balance both in work and personal life which also ensure organizational productivity and employee’s job satisfaction. This research study attempted to find out the factors that have an impact and significance influence on quality of work life of employees in private limited companies of Bangladesh.To begin with the factors are identified through literature review and current context of Banglad esh. Seven factors were found and a quantitative research was done. After developing a questionnaire, survey was conducted among 100 employees. The outcome of the research is that six out of seven factors (work load, family life, transportation, compensation policy and benefits, working environment, working condition and career growth) have significant influence on quality of work life.The study concluded that an appropriate organization culture, compensation policy, career growth and relative facilities can leads to a satisfied employee mindset which ensure the overall organization productivity. Keywords : Quality of work life, Job satisfaction, Organization Productivity, Career, Organization Culture, Relative Facility. II. Background of the Study n Bangladesh a good number of people are working in private sector and they contribute a certain level of valuable time to their companies.In there, they give their best effort to get an appreciation and for company’s goodwill. But quality of work life is such a concept which needs a certain balance both in professional and personal life. This research is all about identifying the factors that directly affects one’s quality of work life. It is very important to have a positive quality of work life experience if someone wants to give his or her 100 percent effort to the company.Quality of work life is a philosophy or set of principals which holds that people are trustworthy, responsible and capable of making valuable contribution to the organization (Rose, Beh, Uli & Idris, 2006). However, quality of work life is directly influenced by job satisfaction and external environment and personal like. There should have be a proper level of balance in work life and total life space. In my research, I have identified some major factors that Author : BBA (Marketing & HRM) & MBA (HRM), East West University (EWU, BD).PGD (Marketing Management), Bangladesh Institute of Management (BIM, BD). E-mail : [email  prote cted] com I I. Introduction It is very important for employees to have a sound mindset in their work field in order to utilize their full potential and to add value to the organization. A satisfied employee is an asset for a company as he or she will ensure the full productivity. To begin with, quality of work life is such a concept that directly related to the satisfaction.According to Dolan, Garcia, Cabezas and Tzafrir (2008), quality of work life is a major concern for employees and how organizations compact with this issue is both of academic and practical consequence. Therefore, job satisfaction and satisfaction in private life both are important for having a positive quality of work life experience. Mostly the quality of work life considers the work life and it is to change the climate at work along with human-technological-organizational interface (Luthans, 1995).According to (Davis & Cherns, 1975; Sashkin & Burke, 1987), quality of work life is not only enhancing the company ’s productivity but also employee identification and a sense of belonging and pride in their work. Based on various researches we can identify some determinants of quality of work life which are – adequate and fair compensation, safe and health work environment, opportunity for career growth and security, social integration in the work organization which relates to freedom of speech, work and total life space and the social relevance to the work. 2012 Global Journals Inc. (US) Global Journal of Management and Business Research Volume XII Issue XVIII Version I may directly affect the quality of work life experience and the factors are, work load, working condition and career growth, compensation and benefits, working environment which are directly influence the job satisfaction. These factors are controllable by the company. Besides, family life and transportation facilities are the other factors that directly influenced individual’s mental motivation in Banglade sh.However, the meaning of quality of work life may vary to different people. So the primary objective of this research is to test the reliability of identified factors that influenced the quality of work life and the insights are captured from the employees of private limited companies of Bangladesh. Based on the primary objective and data evaluation, a recommendation has been drawn in my research. Year 2012 23 Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh 24 2Global Journal of Management and Business Research Volume XII Issue XVIII Version I In Bangladesh candidate’s supply is more than the demand therefore it is difficult to find one’s suitable job in the market. Though the private companies are increasing but employee satisfaction is still a major concern for quality of work life. Along with that, in Bangladesh employee satisfaction can be hampered by private life also. Transportation engagement is a maj or part of private life and in Bangladesh lack of transportation facility is a vital issue for late coming in the office.In this study I have included family life and transportation facility in to the quality of work life concept. These two factors are also related to mental health of employees and a sound mental health is very important to gain enthusiasm in the work. However, I have also included some other factors which works inside the organization and also related to quality of work life of employees. In the context of quality of work life, organizations have policies and benefits for proper employee valuation.Quality of work life is often considered in two direction, one is to removal of negative aspects of work and working conditions and other direction is the modification of work and working conditions to enhance the capability of employees and to promote behavior which important for individual and society (Kotze, 2005). According to Dessler (1981), quality of work life was seen as the level to which employees are able to satisfy their personal needs not only in terms of material matters but also of self respect, contentment and an opportunity to use their talents make contribution and for personal growth.So it is very important for an organization to provide employees proper valuation which will satisfy them and will ensure the productivity. III. ? Research Objectives a) Broad Objectives Determining the Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh. b) Specific Objectives ? ? ? ? Determining the variables that affect the quality of work life of employees. Determining which variable plays the most significant role on quality of work life.Establishing hypothesis on the basis of the research work. Drawing a qualitative and quantitative conclusion on the basis of the survey. IV. Literature Review Based on researchers analysis numerical articles have been written on quality of work life. In case of Bangladesh the research article on quality of work life is very few. In this study I have tried my best to introduce some concerning factors that affects the quality of work life of those people who are working in private sector of Bangladesh.I do believe several advantages are associated with my study. Quality of work life is such a concept that indicates a balance both in personal and professional life of an individual. Therefore; it can be hampered if someone is not satisfied with his or her work life or family life. However; positive quality of work life experience is very important and it is directly interrelated with job satisfaction and productivity. It is a fact which also controls the mental health.According to Plug, Louow & Gouws (1991) mental health is a state of relative good alteration that is escorted by feeling of satisfaction, a zest for life and the actualization of potential skills as well as absence of psychopathological conditions. So to have a positive quali ty of work life experience, a good quality of life is very important. Mendola and Pellingrini (1979) summarized quality of life as it is the individual’s accomplishment of a satisfactory social situation within the limits of apparent physical ability.Every human has a concern about their life and quality comes out when it the concentrations ends with some specific points. According to Shin and Johnson (1978) Quality of life is the ownership of resources necessary for the satisfaction of individual needs, wants and desires, participation in the activities permitting personal development and self actualization and satisfactory comparison between oneself and others. Moreover, a proper balance in quality of work life can generate more productivity for an organization. A satisfied employee can give more than 100 percent contribution to his or her company.If we consider the whole organization as an internal environment then it becomes very important to have optimum work pressure, a ccurate benefits and enough facility along with career development within the company. All of these interrelated with the job satisfaction and therefore quality of work life. Besides, if we consider the external environment then family life, social status and transportation will be the vital factors. So having a proper balance in these areas is also important. In Bangladesh a great amount of people are working in private limited companies and the number of private company is increasing day by day.Considering the large number of population, in Bangladesh the human resource supply is more than the demand. Therefore, the bargaining power is more for company where candidates are having less bargain power. On the other hand, lots of employees are not running on their suitable jobs. It seriously affects their career development. Most of the employees consider compensation package and benefits, position, work load and career development as their satisfaction benchmark. However, in Banglade sh transportation facility is another very important factor that directlyYear 2012  © 2012 Global Journals Inc. (US) Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh affects employee’s mental health. Based on this, some upper level company like Grameenphone limited, Robi, Unilever Bangladesh, Nestle Bangladesh, Banglalink, some private banks, private universities has develop their own culture and working environment. Besides, a good compensation package and benefits are offered by them. All of these are important for job satisfaction and finally quality of work life.In Bangladesh, companies are mainly performance oriented and their organizational culture and work pressure may be the reason of dissatisfaction in quality of work life. As human supply is more so high turnover rate and high competition is also a major concern regarding quality of work life. Quality of work life has been defined in various ways. Accordin g to Rose, Beh, Uli and Idris (2006); quality of work life is a philosophy or set of principals, which holds that people are trustworthy, responsible and capable of making a valuable contribution to the organization.It also involves respect and the elements that are relevant to an individual quality of work life include task, working environment, organizational culture, administrative system and the relationship between on the job and off the job life. Serey (2006), define quality of work life as it is a certain and best meet the existing work environment along with meaningful and satisfying work. It also includes: a. an opportunity to implement one’s talents and abilities to face challenges that require independent initiative and self direction. b. an activity thought to be valuable by the individual’s involvement. c. n activity in which the role of individual in achievement of some overall goals is understandable. d. a sense of taking pride in what one is doing and i n doing it well. Lau, Wong, Chan and Law (2001) measures quality of work life as the favorable working atmosphere that chains and promotes satisfaction by giving employees with rewards, job security and career development opportunity. Therefore quality of work life and its relationship with employee health and performance has become an explicit objective for many of the human resource policies in modern organizations (Dolan, Saba, Jackson & Schuler, 2007).Heskett, Sasser and Schlesinger (1997) summarize quality of work life as the outlook that employees have towards their job, colleagues and organization that light a chain leading to the organization’s growth and profitability. Quality of life is such a concept which is basically associated with satisfaction mainly in the work life and Mirvis and Lawler (1984) highlighted that salary, working hours, working condition, safe working environment and opportunities for advancement describes- the basic components of a good quality of work life.Hackman and Oldhams (1980) suggest the V. Conceptual Framework A conceptual framework has been developed (Figure 1) that is one of the relative construct of this study. VI. Hypotheses Development 1= Word load has an impact on quality of work life of the employees 2 = Family life affects the quality of work life of the employees 3 = Transportation facilities affect quality of work life of the employees 4 = Compensation and benefits affects quality of work life of the employees = Colleagues and supervisor relationship affects quality of work life of the employees 6 = Working environment has an impact over quality of work life of the employees 7 = Working condition and career growth opportunities affects quality of work life of the employees VII. Based on research question following hypotheses has been developed for the study- Research Methodology The type of research used in this article is of descriptive nature. Through this descriptive research, the article sough t to determine the answers to why,  © 2012 Global Journals Inc. (US)Global Journal of Management and Business Research Volume XII Issue XVIII Version I constructs of quality of work life in relation to the interaction between work environment and personal needs. Along with structural modification good relation between supervisor and subordinates is important for a good quality of work life (Bertrand and Scott, 1992). Quality of work life refers the quality of life that is associated with job characteristics and work conditions as well as capability of shaping a job with an employee’s option, interest and needs (Lawler 1982; and Beukema 1987; Datta 1999).Katzell et. Al (1975) defined quality of work life more broadly as an individual’s valuation of the outcome of the work relationship. They observed employee can have positive quality of work life if he has positive feelings towards his job, if he is motivated with his private life and if he has a balance between the t wo terms of his personal values. To conclude, most of the studies on quality of work life are focused on personality and job satisfaction in where some studies also focused on motivation, organization culture and individual’s needs and desire.In the context of Bangladesh the most important factors that directly affect the quality of work life are work load, compensation and benefits, colleagues and supervisor, working condition and career development, working environment, family life and transportation facilities. After evaluation of studies and considering the nation these factors individually has an impact on quality of work life. 25 Year 2012 Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh 26 2 Global Journal of Management and Business Research Volume XII Issue XVIII Version I hat, where and how questions of the existing employees in public sector of Bangladesh and their expectations. It also involves collecting i nformation that explain people’s beliefs, knowledge, attitude and behavior (Fink, 1995, Sommer & Sommer, 1996). Primary data was collected through telephone and online survey for analysis and secondary data was be used as a support tool. A total of 100 sample size considered to be adequate for my study. Each and every response is checked thoroughly for incomplete and missing response. The questionnaire has two parts in were the first part contains some demographic information.Table 1 gives a proper summary of this sort of information. In the second part, the questionnaire contains 32 items to construct the seven independent variables along with a dependent variable in my study. The selected independent variables are: work load, compensation and benefits, colleagues and supervisor, working environment, working condition and career growth, family life and transportation. A five point Likert scale (1= Strongly Disagree to 5= Strongly Agree) was used to collect data from the resp ondents. The questionnaire was outlined in English and understandable.Reliability analysis was done to identify the reliability of my study. Beside this, regression analysis, hypothesis testing was done for a proper justification and to draw an appropriate recommendation in my study. VIII. mean scores of the factors of QWL with standard deviation also shown (Table 4) in my study. i. Hypotheses Testing To conduct the hypothesis test a regression analysis has been done and seven factors which have an effect in quality of work life are considered. However, details of the influence of independent variable over dependent variable have been shown in Table 7.First hypothesis was 1 , Word load has an impact on quality of work life of the employees. According to the analysis, the significance value for the hypothesis is 0. 000, which is less than level of significance ? = 0. 05. So, null hypothesis is rejected and 1 is accepted. Second hypothesis was 2 , Family life affects the quality of work life of the employees. According to the analysis, the significance value for the hypothesis is 0. 000, which is less than level of significance ? = 0. 05. So, null hypothesis is rejected and 2 is accepted.Third hypothesis was 3 , Transportation facilities affect quality of work life of the employees. In this case, the significance value for the hypothesis is 0. 007, which is less than level of significance ? = 0. 05. So, null hypothesis is rejected and 3 is accepted. My fourth hypothesis was 4 , Compensation and benefits affects quality of work life of the employees. Here, the significance value for the hypothesis is 0. 000, which is less than level of significance ? = 0. 05. So, null hypothesis is rejected and 4 is accepted.My fifth hypothesis was 5, Colleagues and supervisor relationship affects quality of work life of the employees. According to the analysis, the significance value for the hypothesis is 0. 332, which is greater than level of significance ? = 0. 05. So , null hypothesis is accepted and H5, is rejected. Sixth hypothesis was 6, working environment has an impact over quality of work life of the employees. The significance value for the hypothesis is 0. 014, which is less than level of significance ? = 0. 05. So, null hypothesis is rejected and is accepted. Final hypothesis was 7 working condition and career growth opportunities affects quality of work life of the employees. The significance value for the hypothesis is 0. 009, which is less than level of significance ? = 0. 05. So, null hypothesis is rejected and 7 is accepted. ii. Regression Analysis From the regression analysis (Table 5), I found the R square value to be 0. 425 meaning 42. 5% of the variability in the quality of work life of employees in the private limited companies in Bangladesh can be explained by these seven independent factors.In this case the independent variables are work load, family life, transportation, compensation policy and benefits, colleagues and supervisor, working environment and working condition and career growth. From the ANOVA table we see that the significance value is 0. 000 (Table Year 2012 Data Analysis and Findings My study contains 69% male respondent and 31% female respondent (Table 1). Among them 94% respondent’s age is in between 21-30 years and rest of 6% respondents is under 31-40 years of age. However, 44% respondents already have 2-3 years of professional experience in where 27% respondents have 3-5 years of experience.Moreover, some fresher’s are having 1-2 years of experiences are also included in my study and the percentage is 23%. A reliability analysis is commonly used to identify the internal consistency of the variables. However, Cronbach’s alpha is commonly used to test the reliability and the range of alpha coefficient value is in between 0 to 1. The higher value indicates the higher reliability (Hair, et al. , 1992). A value more than . 70 is significantly good measure for su fficient scale of reliability (Cronbach, 1951, Nunnally, 1987).According to the Cronbach’s alpha test the value of alpha in my study is 0. 732 (Table 2 & Table 3) which is higher than minimum acceptable value. Therefore, 73. 20% of data are reliable in my study. This reliable analysis has been done for all dependent and independent variables and so far I am satisfied. Besides, this reliability test contains 32 items based on which I make my hypothesis test. A  © 2012 Global Journals Inc. (US) a) Demographic Data Analysis b) Secondary Data Analysis Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh ), thus proving that the model is valid and significant. However, among 7 factors six of them (work load, family life, transportation, compensation policy and benefits, working environment, working condition and career growth) have positive and significance influence on quality of work life. Only single factor named colleagu es and supervisor has no significance impact on quality of work life. Probably, respondents have given less notice on it. iii. Limitation This research study has some limitation and the major limitation factor for this report is complexity of the topic.Since the survey will be conducted on questionnaire therefore it is a great challenge to ensure the actual validity of the response. In some cases, the topics were not understood by the employees who have minimal idea about the quality of work life. Respondents are selected only from Dhaka city; therefore this research does not reflect the perception of employees of each corner of Bangladesh. However unwillingness of respondents was another limitation of my study. Moreover, R Square (0. 425) is comparatively low which means that other factors can also influence the quality of work life of employees in private limited companies of Bangladesh. v. References References Referencias 1. Arts, E. J. , Kerksta, J. and Van der Zee (2001) Quali ty of Working Life and Workload in Home Help Nordic College of Caring Sciences, 12-22. 2. Baptiste, N. R. (2008). Tightening the link between employee well-being at work and performance: A new dimension for HRM. Management Decision, 46(2), 284-309. 3. Bertrand, J. (1992). Designing quality into work life. Quality Progress, 12, 29-33. 4. Carayon, P. (1997). Temporal Issues of Quality of Working Life and Stress in Human Computer Interaction. International Journal of HumanComputer Interaction, 9(4), 325-342. 5. Carayon, P. , Hoonakker, S. & Scwarz, J. (2003). Job Characteristics and Quality of Working Life in the IT workforce: The role of gender, ACM SIGMIS CPR Conference. Edited by E. Trauth, April. 10-12, 2003, Philadelphia, Pennsylvania: ACM Press, 5863 6. Cooper, C. L. (1991). Stress in organizations. In M. Smith (Ed. ), Analysing Organisational Behaviour. London: MacMillan. 7. Cummings, T. G. , & Molly, E. S. (1997). Improving Productivity and the Quality of Work Life. New York: P raeger Publishers. 8. Danna, K. , & Griffin, R. W. (1999). Health and wellbeing in the workplace: A review and synthesis of the literature. Journal of Management, 25(3), 357384. . Davison, Efraty, D. , & Sirgy, M. J. (1990). The effects of quality of working life (QWL) on employee behavioural responses. Social Indicators Research, 22, 31-37. 10. Elizur, D. , & Shye, S. (1990). Quality of work life and its relation to quality of life. Applied Psychology: International Review, 39(3), 275-291. 11. Fisher, C. D. , Schoenfeldt, L. F. and Shaw, J. B. (2004) Human Resources Management. Biztantra: New Delhi. 12. Goodman, P. S. (1980), ? Quality of Work Life Projects in 1980’s? Industrial Relations Research Association: pp-487-494  © 2012 Global Journals Inc. (US) 27 Conclusion and RecommendationThis research study is tried to examine the factors that have an impact on quality of work life of employees of private limited companies in Bangladesh. The seven factors are work load, fami ly life, transportation, compensation policy and benefits, colleagues and supervisor, working environment and working condition and career growth. The outcome of the research indicates that six out of seven factors (work load, family life, transportation, compensation policy and benefit, working environment and working condition and career growth) have significant influence on quality of work life and the remaining factor (colleagues and supervisor) has no ignificant influence on quality of work life. From the finding, it can be recommended that quality of work life is such a critical concept that might be disturbed due to dissatisfaction of mind set. However, the companies can focus on their employee’s welfare by providing them a better and attractive compensation policy, optimum work load and by providing a superior work environment. The private companies should create a career growth opportunity within their environment that may lead to a better performance and therefore a better productivity.Moreover, participation management will increase the enthusiasm of employees as they will have an opportunity to participate with their ideas. So the private companies of Bangladesh can focus on it. On the other Global Journal of Management and Business Research Volume XII Issue XVIII Version I Year 2012 hand, transportation is such a factor which is seriously involve in mental satisfaction. Therefore, if the companies can provide a transportation facility then they might grab a positive impression from employees and the employees may not need to harass by external environment.However, the government of Bangladesh can take some steps to provide adequate and affordable transportation facilities for the local people. Finally, I think if the company could manage our work life along with the transportation facility, our family or private life could be managed as we will be mentally happy. Factors Affecting Quality of Work Life: An Analysis on Employees of Private Li mited Companies in Bangladesh 28 2 Global Journal of Management and Business Research Volume XII Issue XVIII Version I 13. Glasier, E (1976), ? State of the Art, Questions about Quality of Work Life? Personnel. 14. Hanlon, M. D. and Gladstein, D. L. (1984) Improving the Quality of Work Life in Hospitals: A Case Study, Hospital Health Service Administration, 29(5), 94107. 15. Havlovic, S. J. (1991) Quality of Work Life and Human Resource Outcomes, Industrial Relations, 30(3), 469-479. 16. Khan, A. A. (2008). Human Resource Management and Industrial Relations (2nd Edn. ). Abir Publications: Dhaka. 17. Loscocco, K. A. and Roschelle, A. R. (1991) Influences on the Quality of Work and Non- Work Life: Two Decades in Review, Journal of Vocational Behavior, 39(2), 182-225. 8. Lambert, S. J. (1990). Process linking work and family: A critical review and research agenda. Human Relations, 43, 239-257. 19. Lawler, E. E. (1975). Measuring the psychological quality of working life: The why and ho w of it, in L. E. Davis and A. B. Cherns (Ed. ), The Quality of Working Life, Vol. 1 (pp. 123-133). New York: Free Press. 20. Periman, S. L. (2006), â€Å"Human Resource Innovators, integrating quality of work life into organizational performance†, http://www. quaiindia. com [accessed 15 Jan 2010]. 21. Rose, R. C. , Beh, L. S. , Uli, J. , Idris, K. 2006) Quality of Work Life: Implications of Career Dimensions, Journal of Social Sciences, 2(2), 61-67. 22. Saraji, G. N. & Dargahi, H. (2006), â€Å"Study of Quality of Work Life (QWL)†, Iranian Journal of Publication Health 35(4), 8-14. 23. Walton, R. E. (1975), Criteria for Quality of Working Life, in Davis, L. E. & Cherns, A. B. (eds. ), The quality of working life, New York: The Free Press, pp. 99104. 24. Wyatt, T. A. & Wah, C. Y. (2001), â€Å"Perceptions of QWL: A study of Singaporean Employees Development†, Research and Practice in Human Resource Management 9 (2), 59-76 Year 2012  © 2012 Global Journals Inc. (US)Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh Figure 1 : A Conceptual frame work of Factors affecting Quality of Work Life. Family Life Transportation Private Life Quality of Work Life 29 Work Life Work Load Compensation and Benefits Working Environment Colleagues and Supervisor Working Condition and Career Growth Table 1 : Demographic Profile of Respondent. Gender Male Female (%) 69. 00 31. 00 Age 21-30 years 31- 40 years 40 years an (%) 94. 00 6. 00 0. 00 Position Executive Sr. Executive Officer Sr. Officer Asst. Manager Manager Merchandiser Asst.Territory Officer Territory Manager Management Trainee Teacher Specialist Total 100. 00 Total 100. 00 Total (%) 48. 00 4. 00 19. 00 4. 00 6. 00 2. 00 2. 00 3. 00 3. 00 2. 00 4. 00 3. 00 100. 00 Total 100. 00 Year of 1-2 Years 2-3 Years 3-5 Years 5-7 Years 8 Years and (%) 23. 00 44. 00 27. 00 4. 00 2. 00  © 2012 Global Journals Inc. (US) Global Journal of Management and B usiness Research Volume XII Issue XVIII Version I Year 2012 Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh Table 2 : Reliability Statistics. Cronbach's Alpha . 32 Cronbach's Alpha Based on Standardized Items . 786 N of Items 32 Table 3 : Reliability Tests. Factor’s Name Items 4 4 4 4 4 4 4 4 Values 0. 796 0. 60 0. 825 0. 526 0. 821 0. 927 0. 809 0. 471 Quality of Work Life (Dependent) Work Load (Independent) Family Life ((Independent)) Transportation (Independent) Compensation Policy and Benefits (Independent) Colleagues and Supervisor (Independent) Working Environment (Independent) Working Condition and Career Growth (Independent) Global Journal of Management and Business Research Volume XII Issue XVIII Version I Year 2012 30 2 Table 4 : Mean Scores of the Factors of QWL.Factors Workload Family Life Transportation Compensation Policy Colleagues and Supervisor Working Environment Working Condition and Career Growth Mean 3. 0800 3. 4350 3. 4900 2. 5325 4. 0325 3. 8700 3. 4850 Std. Deviation . 50861 . 94054 . 86524 1. 02473 . 74845 . 76581 . 64630 Table 5 : Regression Analysis. Model 1 R . 652(a) R Square . 425 Adjusted R Square . 381 Std. Error of the Estimate . 48606 a. Predictors: (Constant), Working Condition and Career Growth, Work Load, Transportation, Compensation Policy, Family Life, Colleagues and Supervisor, Working Environment Table 6 : ANOVA.Model Regression 1 Residual Total Sum of Squares 16. 072 21. 735 37. 807 df 7 92 99 Mean Square 2. 296 . 236 F 9. 718 Sig. .000(a) a. Predictors: (Constant), Working Condition and Career Growth, Work Load, Transportation, Compensation Policy, Family Life, Colleagues and Supervisor, Working Environment b. Dependent Variable: QWL  © 2012 Global Journals Inc. (US) Factors Affecting Quality of Work Life: An Analysis on Employees of Private Limited Companies in Bangladesh Table 7 : Hypothesis Testing. Coefficients (a)Model (Constant) Work Load Famil y Life Transportation Compensation Policy Colleagues and Supervisor Working Environment Working Condition and Career Growth Unstandardized Coefficients B 3. 425 . 577 . 287 -. 218 -. 245 -. 104 . 309 -. 308 Std. Error . 604 . 123 . 073 . 078 . 058 . 107 . 123 . 115 . 475 . 436 -. 305 -. 407 -. 126 . 382 -. 322 Standardized Coefficients Beta 5. 668 4. 705 3. 943 -2. 782 -4. 206 -. 974 2. 518 -2. 682 . 000 . 000 . 000 . 000 . 332 . 014 . 009 . 007 t Sig. 1 a. Dependent Variable: QWL  © 2012 Global Journals Inc. (US) Global Journal of Management and Business Research Volume XII Issue XVIII Version I Year 2012 31