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Money and Banking
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----------------Assignments-------------

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Research Method STA-630
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Conflict Management HRM 624
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----------------Handouts----------------

CS-507
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Research Method
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Strategic Management
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Conflict Management
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Human Relation
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E-Commerce(IT-430)
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Production and Operations Management (Mgt-613)
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Economics (Eco-401)
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Human Resource Management (Mgt-501)
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Answer

1) a well-designed resume that showcases your marketable skills
2) a personalized cover letter
3) a post-interview thank you letter

Answer (2)

ANSWER

/////////////////////////////////////////////////
SOLUTION # 2

Question No.1

Write a detailed note on resume in general from employer’s point of view.
A resume is an outline of your accomplishments that contains the strengths and enthusiasms that make you a unique individual. So you must decide what to include and what format to use keeping in mind the employer’s point of view that how can your resume depict the information what the employer wants.

From employer’s point of view:
• What can you do for me? The most effective way to show employers the value you offer is to show them how you've contributed to an employer's success elsewhere. Examples must be specific, measurable accomplishments that cite numbers and other details.

• Do you have the skills I'm looking for? Scan job ads and job descriptions to discover which skills are most relevant to the employers and recruiters receiving your resume. Then strategically place them throughout your résumé to ensure it makes it past computer scans and into the hands of employers and recruiters.

• Where have you worked before? Employers want to know where you worked, for how long and which job titles you've held that may indicate how prepared you are for a role at their organization.

• Is your experience relevant to my needs? Sometimes it's necessary to expand upon a job title or job description to truly demonstrate that you have experience that applies to the job you're seeking. Consider using bullets to present brief and interesting information that is relevant to the employer.

• Do you have the right education and credentials? If you have the education, credentials and training needed to qualify for the job, be sure to say so! Use commonly accepted terminology and keywords in this section to ensure your information isn't misinterpreted or overlooked by employers or resume scanners.

• What kind of person are you? "Adding insightful information about what makes you special can be a definite plus on your resume and help decision-makers discriminate between you and another candidate, even before you've met in person. Include "extras," such as a branding statement and relevant information about foreign languages you speak, computer proficiencies, etc.

• Do I see any "red flags" in your background? Gaps in employment (an indication of job hopping), spending too much time in the same job or resume errors may alert employers and recruiters that you are not the type of candidate they're looking for in their organization. To avoid drawing attention to "red flags" on your resume, make sure you make your accomplishments and skills stand out as strongly as possible.

• Can I easily get in touch with you? After all you’re hard work in putting together a powerful resume, don't forget the essentials! It doesn't matter how great your resume is, if you don't include a phone number, address and e-mail address somewhere on the resume, you'll never hear from the employer or recruiter.

One of the most important factors that employers weigh heavily is maturity. Employers will also want to know whether or not you have a professional demeanor. Your professionalism is something you need to prove to employers as soon as you contact their firm. Proving you can do a certain job is not enough? Companies, especially those hiring for management training programs, also want to see that you are going to grow within the company. What's more, you will have to project the image of a business-oriented person by showing an interest in the industry and in the business world in general. To be sure, employers also want to see that you can perform the job.

Question No.2

(a) Describe dos and don’ts of writing an effective cover letter.

Here are the keys to writing successful and dynamic cover letters. Follow these simple rules and we should achieve success in this important phase of job-hunting.

Dos for writing an effective cover letter:

• Address your letter to an appropriate individual with hiring power.

• Use simple language and uncomplicated sentence structure. Ruthlessly eliminate all unnecessary words. Follow the journalist's credo: Write tight!

• Write cover letters that are unique and specific to you.

• Keep your letter brief. Never, Never more than one page and it's best to keep it well under a full page. Each paragraph should have no more than one to three sentences.

• Tell the employer how you can meet his or her needs and contribute to the company.

• Distinguish your cover letter from those of other job-seekers by quantifying and giving examples that amplify and prove the claims you make in your letter.

• Try to answer the question that the employer will be asking while reading your letter:

• Avoid negativity. Negativity never has a place in a cover letter.

• Be sure the potential employer can reach you..

• Use e-mailed cover letters, but keeps them shorter and more concise.

Don’ts of writing an effective cover letter:

• Don't ever send your resume without a cover letter.

• Don't use a sexist salutation, such as "Gentlemen" when answering a blind ad.

• Don't waste your first paragraph by writing a boring introduction. Use the first paragraph to grab the employer's attention, give the employer the reasons you are qualified for the position.

• Don't use such clichés as "Enclosed please find my resume" or "As you can see on my resume enclosed here with." Employers can see that your resume is enclosed; they don't need you to tell them. Such trite phrases just waste precious space. And don’t use wordy phrases, which also waste space.

• Don't depend on the employer to take action. Request action. Request an interview, and tell the employer when you will follow up to arrange it. Then, Do So. It is imperative that you follow up. You will greatly increase your chances of getting interviews if you call the employer after writing instead of sitting back and waiting for a call. Those who wait for the employer to call them will generally have a long wait indeed.

• Don't send a cover letter that contains any typos, misspellings, incorrect grammar or punctuation, smudges, or grease from yesterday's lunch.

• Don't rehash your resume. You can use your cover letter to highlight the aspects of your resume that are relevant to the position, but you're wasting precious space -- and the potential employer's time -- if you simply repeat your resume.

• Don't forget to personally sign the letter, preferably in blue ink.

**********************************************

(b) What do you know about methods of negotiation? Comment on each briefly. (5)

Negotiating methods

In the negotiating process, the parties involved may choose one of five different negotiation methods. A skilful negotiator is able to identify them and recognize which one is being used by the other person.

1. Compromise
2. Collaboration
3. Competition
4. Accommodation
5. Withdrawal or avoidance

Compromise
It means to settle differences through concessions made by one or both parties and to arrive at expedient solutions under time pressure; and as a backup when collaboration or competition is unsuccessful. A compromise usually produces win-win or win-lose results. When the settlement meets the needs and goals of both parties (win-win), both are satisfied with the outcome. When the solution meets the needs and goals of only one party (win-lose), the other party is dissatisfied with the outcome.

Collaboration

It means to find an integrative solution when both sets of concerns are too important to be compromised; when your objective is to learn; to merge insights from people with different perspectives; to gain commitment by incorporating concerns into a consensus; and to work through feelings that have interfered with a relationship. On the other hand, it is time-consuming and demands good negotiating skills on each side.

Competition

Often leads to one party gaining advantage over the other, if it can negotiate at the expense of the other’s needs. Since the competitive approach usually produces a win-lose result, it is bad for personal relationships. The solution is likely to be temporary as there is no commitment from the losing party, so the problem will occur again. It also leaves the losing side in a difficult situation.

Accommodation

Means that only one party is willing to oblige or adapt to meet the needs of the other. It produces a win-lose outcome. However, this method is useful for negotiating on minor matters. The result can go one way or the other. It is suitable if the accommodating party does not really care about the loss.
However, the negotiating parties may not bother to look for creative solutions. With this negotiations method, points of view are easily swayed.

Withdrawal or avoidance

Withdrawal (avoidance) is a negotiation method that makes both parties lose, because one party retracts their point of view or backs away form the situation. Such dissatisfaction may lead to conflict in the future. The choices you make are influenced by the context in which you negotiate and by your range of personal communication and negotiation skills.