The Ethical Values Of A Manager - 1153 Words

Often times the ethical values of a manager, business, or even nation are ignored when they place financial profits at risk. Many nations have had to face these moral conflicts when dealing with substances, such as alcohol, drugs, and tobacco. India is no different and like many developing and developed states, they were faced with the dilemma of the health risks related to tobacco use. One of the ways to combat a product’s popularity is to limit the exposure of peoples to it by blocking their ability to advertise. As with most ideas there are proponents and opponents. The ban in India had many driving factors for advocacy. Much as had been done for deadly narcotics, the state felt that it had an ethical obligation to intercede if a product was putting the lives of their citizens at risk. Smoking had become universally recognized as a health hazard and there was a concern globally that children were the target market. Even in countries such as the United States, documen ts were being uncovered that described mid-teens to early twenties as â€Å"tomorrow’s cigarette business.† (IBS Center for Management Research, 2010) This was leading to regulations, such as the Master Settlement Agreement (Public Health Law Center, n.d.), which in part forced the removal of animated mascots, implicated in the exploitation of minors, from advertising. Additionally, India’s health costs associated with smoking were 50% higher than the GDP revenue generated from cigarettes.Show MoreRelatedCorporate Social Responsibility : A Business Model And Manager s Ethical Values999 Words   |  4 PagesCorporate social responsibility is an ethics that is concerned with a company’s value towards society (Daft, 44). In the book management Daft states, CSR as essentially a concept under which companies voluntarily contribute towards making a better society and a cleaner environment. The book basically has divided CSR into four subdivisions: economic, legal, ethical and discretionary responsibilities. CSR needs a proper organizational environment to be effective and in such a scenario one can say thatRead MoreHow Managers Manage Employees With Leadership1292 Words   |  6 PagesIntroduction Managers have really important role of managing employees working well and it leads to organisation s success. Some people claim reward and punishment are the best tool for a responsible managers because self-interest is the bottom-line of human motivation. Reward and punishment is one of way to encourage and control employees, but, there is some more else elements and concepts that manager should go along with for managing employees well and organisation’s success. It comes to employeeRead MoreCompany X Code Of Ethics1156 Words   |  5 PagesCompany X Code of Ethics Purpose The Code of Ethics is to be used as a guide of the company values. This information will inform employees about the core values of Company X, along with an understanding of why having a commitment to the ethical conduct is a necessity. Standards and Procedures Standards of ethical behavior apply to every employee of Company X. This will guide Company Xs’ employees to make ethical decisions. 1. Follow HIPPA Privacy Rules HIPAA Privacy Rules are established standards thatRead MoreEthical And Ethical Dilemmas Of An Ethical Culture That Can Prevent Unethical Behavior Essay1548 Words   |  7 PagesManagement’s role in creating an Ethical culture that can prevent unethical behavior 1 Management’s role in creating an Ethical culture that can prevent unethical behavior. Author: Lereiya Edmonson Martin Class: MGMT 630 In any organization, there are rules and regulations employees must follow for it to run smoothly. Therefore, this paper gives five types of ethical dilemmas that can occur in a work setting, and it will also help you understand ethical dilemmas managers faced when making a decisionRead MoreThe Ethics Of Human Resource Management896 Words   |  4 Pagesleadership and managers are responsible for the ethical climate of an organization as well as being influencers on the ethical behavior of employees (Meinert, 2014), the role of human resource management (HRM) in the cultivation of an ethical workplace cannot be underestimated. Through the development of behavioral policies, codes of conduct, and training initiatives (Unit 8 Lecture Notes, n.d.), as well as their involvement in hiring and evaluation, HRM helps to build an ethical workplace cultureRead MoreThe Role Of A Manager For Any Capacity At A Business904 Words   |  4 Pagesare many challenges when playing the role of a man ager in any capacity at a business. Managers need to be able to make informed decisions that can have financial or personnel impacts, they need to fully understand and implement all organizational policies, and they need to manage and drive employee performance. Managers are in a state of perpetual assessment. Performing these tasks in one country and one culture is challenging enough, but from an ethical point of view, there is a pretty solid line whenRead MoreEthics Away From Home By Thomas Donaldson1507 Words   |  7 Pages In Thomas Donaldson’s Values in Tension: Ethics Away from Home he examines whether or not companies should alter their own moral standards and those of their home country when doing business in foreign countries whose own ethical standards contradict the company’s and those of the company’s home country. He also raises the question of whether or not it is an acceptable practice for a company to invest in a country where the peopleâ€⠄¢s human and political rights are being violated. Early in his essayRead MoreValue Maximization Is Not The Optimal Approach1158 Words   |  5 PagesEnhanced Value Maximization. According to HBS Professor Michael C. Jensen (2000), pursuing only one objective, i.e. profit maximization is not the optimal approach. A manager must develop a structure that will help employees to resist the temptation to maximize the short-term financial performance of the organization as that’s a sure way to destroy value. Though, a manager needs to take into account the impact of their decisions on all the stakeholders as the first step towards value maximizationRead MoreEthical Leadership in the Universal Business World659 Words   |  3 Pagesan ethical person with a reputation for injustice. Ethical leadership has long been a debate in regards to its importance and place in the universal business world. Hard wired leaders are usually very set in their ways whether those ways are ethical or not. Leaders are hard wired in terms of their morals, and ethical value and cannot change otherwise. For example a leader who is hard wired as being ethical would be an all-rounder in terms of being a moral person as well as a moral manager. ARead MoreThe Global Economy Has Changed The Way The Corporations Do Business Today1622 Words   |  7 Pagesnations and their increasing inter connectedness, accelerated by technology has brought a profound impact on global business. The expanding global environment has extended the reach and goals of the companies with greater access to wider markets. Managers are looking to globalize operations, developing new markets for their products for better strategic business outcomes. Consumers also have better access to a greater variety of goods and services; and the competition to reach to the new markets with

Whole Foods Inc. Operates In The Grocery Industry With

Whole Foods Inc. operates in the grocery industry with its main focus on providing consumers with a healthier, more natural, and a more organic alternative to grocery shopping. Their products differentiate from other mainstream grocery providers because they are a higher quality of product. After previously partnering with Google express, Whole Foods has now invested in Instacart, a delivery service that would primarily deliver Whole Foods products nationwide to its consumers for at least the next five years. (Rey) The current Chief Financial Officer (CFO) of Whole Foods Markets is Glenda Flanagan, who is also the Executive Vice President for the company. She is the longest running female to serve in the Chief Financial Officer position†¦show more content†¦(Quarterly Results) Whole Foods continues to grow as the leader in organic and natural grocery supplier in the United States, Canada, and England. The company has continued to open new stores in new markets, as well as, o pening two 365 by Whole Foods Market stores. Whole Foods became the industry leader by providing high quality natural and organic food products for consumers, which is a better and healthier product for consumers to consume. This is a big part of their competitive advantage. Other grocery stores are limited in their organic supplies, where as at Whole Foods, it is the primary focus. Another comparison is that with the help of Instacart, Whole foods is now the leader when it comes to delivery of fresh groceries then any other grocery in the industry. (Quarterly Results) Whole Foods employees around eighty-seven thousand employees, and has been ranked one of the â€Å"one hundred best companies to work for† for the last nineteen years by Fortune Magazine (Quarterly Results). Whole Foods provides their employees with a twenty percent discount on all products. Full time employees also receive low insurance premiums under twenty dollars. Personal wellness and health savings accoun ts are also offered to employees to help cover cost of medical needs. Whole Foods looks for passionate employees to help satisfy consumer needs. (About OurShow MoreRelatedWhole Foods Market, Inc1732 Words   |  7 Pages Whole Foods Market, INC (ticker: WFM) one of the main leaders in supermarket/grocery industry. The company opened its first store in 1980 in Austin, Texas and it was among few supermarkets that were providing natural products. (1) Whole Foods Market was the first store to emphasis on organic food with a clear mission to be a provider of products with the highest quality. Whole Foods started expanding into different states across United States by mergers and acquisitions. Their first internationalRead MoreWhole Foods Market Inc.1657 Words   |  7 PagesIntermediate Acct 1 Whole Foods Market Inc. Whole Foods Market Inc. is an American supermarket chain specializing in organic food that opened on Sept. 20, 1980, in Austin, Texas, its current headquarters. Whole Foods Market Inc. has 431 supermarkets among the United States, Canada, District of Columbia, and the United Kingdom. Whole Foods Market has sales revenue of 15.39 billion, total assets of 5.74 billion, and a net income of 536 million in the annual report of September 2015. Whole Foods Market’s commonRead MoreCase Study : Porters 5 Forces1740 Words   |  7 PagesForces When examining the retail grocery industry, there are clear indicators that Kroger’s has a mature market segment. The retail grocery industry has a moderate threat of new entrants. This is because there are very few barriers to enter. However, the investment and market share needed to have a successful startup is difficult to obtain. New companies face high startup costs, government regulation policies, and distribution in regards to the FDA (Food and Drug Administration). Kroger’s hasRead MoreCoca Cola And The Soft Drink Manufacturing Market1161 Words   |  5 PagesThe primary industry Coca-Cola is in the Soft Drink Manufacturing market consisting of different types of soft drinks with its target being at mainly restaurants and grocery stores across the United States. Varieties of coke include serves different coke flavors such as original, vanilla, cherry, and caffeine free. Even though these different types of Coca-Cola products are sold as consumer products, th ey serve as a core component for other types of soft drink products, including non-carbonatedRead MoreWhole Foods Case Analysis Essay2011 Words   |  9 PagesMission/External Analysis According to Whole Foods Market, Inc.s Form 10-K from 2002, the companys goal is to become an international brand synonymous with not just natural and organic foods, but with being the best food retailer in every community in which we are located. The vision of Whole Foods goes deeper than just being a successful grocery store. The company is dedicated to ultimately improving the world in general; it plans to do this by continuing to focus on its immediate visionsRead MoreWhole Foods Strategic Plan1261 Words   |  6 Pages Whole Foods – Strategic Plan IST 7100 September 20, 2014 Kunal Parekh Whole Foods Market, Inc. which is headquartered in Austin, Texas, is an American foods supermarket chain it was founded by John Mackey who currently serves as the CEO of Whole Foods. To sum up their mission and vision statement, Whole foods as a company strives to help out in promoting positive health and well-being of people, this includes team-members, customers and the whole planet inRead MoreSwot Analysis on Whole Foods Market2356 Words   |  10 PagesCOMPANY PROFILE Whole Foods Market, Inc. REFERENCE CODE: BD72666B-7DBD-4CB9-A94F-4FDC7997ECA7 PUBLICATION DATE: 30 Mar 2013 www.marketline.com COPYRIGHT MARKETLINE. THIS CONTENT IS A LICENSED PRODUCT AND IS NOT TO BE PHOTOCOPIED OR DISTRIBUTED. Whole Foods Market, Inc. TABLE OF CONTENTS TABLE OF CONTENTS Company Overview..............................................................................................3 Key Facts.........................................................Read MoreWhole Food Markets Case Analysis Essay1986 Words   |  8 PagesWEEK 6 Whole Foods Markets, Inc. Executive Summary: Existing mission, objectives, and strategies: According to Strategic Management Concepts and Cases, written by F. David, Whole Food Market, Inc.’s current mission statement is as follows, â€Å"to promote the vitality and well-being of all individuals by supplying the highest quality, most wholesome foods available† (David, 2011, p. 74). David also points out that Whole Food Market Inc.’s operatingRead MoreImpact Of Globalization On The Global Age1616 Words   |  7 Pagesoriginated in one country and have outsource their production across national borders to host countries. The ‘home country’ which is generally industrialized, wealthy companies move into developing, or ‘host’ countries. Within these host countries, MNCs operate and produce goods at a reduced cost for the producing company by taking advantage of different labour policies as a result, this provides the consumer with a vast amount of more affordable products. The presence of MNC’s are not a new phenomen on andRead MoreDemand Elasticity Of Amazon s Product1285 Words   |  6 Pagesinelastic in demand, since the demand for their products are usually not susceptible to price deviations. Company’s profitability: Amazon.com focuses more on reinvesting into new business and innovations for the company long-term growth and does not operate on maximizing profits. Yet, the company has increase revenue year over year and continues to have plenty of operating cash flow to keep the flourishing business growing. According to the commentary, Amazon: Love Them? Hate Them? Let’s Follow the Money

One Nation Under Corn Free Essays

A position paper done in fall of 2012 on the cause and affect of the industrialized corn crop. I decided on this subject after my own battle with illness. This battle, ended up changing my diet, and my life as it turns out. We will write a custom essay sample on One Nation Under Corn? or any similar topic only for you Order Now I have almost completely removed any corn derived product from my life (all-be-it difficult sometimes) and am a proponent of a purely organic vegetarian diet. One Nation Under Corn? Chad Cribb DeVry University One Nation Under Corn One of the many freedoms we enjoy in this great country is the freedom to choose what you will eat and when you will eat it. Pull up to your favorite fast food burger restaurant, and little thought goes into the entire process. From the drive there, to the ordering of your food, and the packaging they are contained in. When we think more about it, as Michael Pollan did in his book, â€Å"The Omnivore’s Dilemma†, there is a whole lot more going on. Pollan dives deep into the heart of our nation’s fascination with the corn crop and its many uses. Corn started out as a crop grown to feed its people. But in this day and age, very little is actually eaten. Corn has become a giant in the food industry, at a low price; thanks in part to the government help. We started this nation as one based in principle and in the pursuit of freedom†¦. and now it seems†¦ corn. But who is the real beneficiary of this corn crop? And just as important†¦who are the losers? Corn has been around since recorded history and has played a major role in trade and many complex social societies. Corn’s spread across the globe began after contact between the European colonial powers and indigenous peoples of North and South America. It continued on to Africa during the slave trades and was used to actually pay for them. What’s more, it was a source of power for the African middlemen involved in the slave trade. Fast forward now to the 1940’s and 1950’s as corn and corn based foods became crucial in the agriculture market to sustain military troops during the war. It was after the war that America saw a huge surplus in corn yield partly due to the new hybrid seeds and fertilizers that had recently been manufactured. This surplus had a dramatic effect on the market and the market prices. It was these prices, over the years that caused unpredictable price swings (Wise 2005-9). As our population has increasingly grown thru the years, our need for more food has increased along with it. The polarity between the two was unbalanced and by using the free market approach, farmers regularly had booms and busts in the market. Making farmers the target of continued and increasing depressed prices in their crop. The government soon stepped in with â€Å"The New Deal†, in order to bring supply into line with demand, an approach known as â€Å"supply management† using conservation set-asides, a price floor guaranteeing a fair price (like having a minimum wage), and a grain reserve to deal with overproduction. What was not widely known, it appears, is the corporate-world began lobbying for a free market approach again. Beginning in the 1970’s, they used the World Food Crisis and the Russian Wheat Deal to validate their argument to government. Coupling that with the notion of â€Å"getting government out of agriculture†. The result of that was that prices collapsed by the late 1990’s and the government had to bail out farmers with millions in emergency subsidy payments. Prices completely collapsed shortly after the 1996 Freedom to Farm Act, causing expensive taxpayer bailouts. By 2000, subsidies provided 49% of farmers’ net income. This has helped the corn industry to comprise 95% of all food grain produced in America (USDA 2010). The government’s well-intended approach to help â€Å"prop up† the industry, in fact, created a market dependent on the very subsidies that were created to help it. Between 1995 and 2006, the government paid out $56 billion in corn subsidies (Wise 2005-12). What’s more, it helps create a market monopoly. With only 3 companies controlling 90% of the corn market, 2 companies controlling the corn seed market, and 4 companies controlling the high fructose corn syrup industry, the answer should be clear. But as Pollan points out, â€Å"It’s not about who is profiting, but rather who is suffering† (Pollan 2006). Most of what we see in the news is the emphasis placed in the trials and tribulations of the farmer, for the benefit of the consumer. But is it really the consumer who benefits? If the price of food per calorie is the magic calculation, then the answer is yes. But if the average weight per person is, then the answer is no. As the corn industry exploded and the number of companies shrank, corn began a new transformation into other parts of the food industry and more. This came in the form of high fructose corn syrup (HFCS), gasoline additives, plastics, and cattle feed to name a few. Cattle feed now encompasses over 50% of the industrialized corn produced in America (Wise 2005-11). The increase of this has helped create the perpetual cycle that has infested the industry, and moreover, the agricultural policy that affects it. The overproduction of corn has led to an overconsumption of corn; mostly in an indirect way. America’s agriculture and international trade policies have created an environment that breeds monopolies and corruption. Big business lobbyist has taken hold in an industry that believes in the â€Å"bottom line†. This philosophy has squeezed out the once popular sugar cane, and ushered in the cheaper, easily produced, HFCS for its products. Because the government has placed so many incentives on the production of corn, other more healthy crops have been left behind. Crops like fruits, vegetables, and whole grains have quickly become a thing of the past. The relationship between government and business has become as unhealthy as the population consuming the products they produce. At one point, it almost looks like the industry wanted the market to crash and the government to step in. One would ask why anyone would want that. Because subsidizing the industrial crop ensures it stays at a cheap price for one. Secondly, the corporations who buy corn to turn into high fructose corn syrup (used in almost every food product) or as feed for livestock, or ethanol for vehicles operations have profited by the billions. Thirdly, the corporate consolidation of our food system as whole. When you think about it, it reaches thru banks, seeds, fertilizers, grain traders, food processors, manufacturing plant, to retailing. Walsh says, â€Å"This kind f uncompetitive market squeezes the farmer on both sides† (Walsh-2009). This notion seems to place a lot of blame on the subsidies themselves. My contention is that subsidies are not the problem with our food system, but merely a product of a broken system. To fix the farm policy, legislators must first have a clear understanding of who wins and who loses under the current system and why. Also, the high tariffs placed on sugar cane need to be downsized to allow for balance in the market. But this is a prime example of how the government’s intention to help has unintentional consequences. I believe that the root of our problem today is the â€Å"clinging† to a free market food system. One that allows commodities like corn to be priced so low that would allow big business to develop monopolies over farmers and corn while reaping huge profits because of cheap corn. America now spends less of our income on food than any other generation in history (Pollan-2002). When you look at it in perspective, the agriculture our grandparents helped build was now growing fast food. This affecting our wallets, farmlands, and waistline. Some may say that our waistline and rate of disease are due to laziness and other factors. I disagree. I believe they are a direct relation to cheap, processed food made by cheap, industrialized corn. In order for us to decrease the consumption of corn, the government needs to cease its subsidizing of it. This will do two things. One, it let the markets adjust themselves at a rate that creates dependence on itself rather than assistance. Two, tighten the ability of lobbyist to affect change in agriculture and government policy that increase benefits to the very few. The bottom line here is this; big business reaps profits at the expense of the farmer. And the consumer? Well†¦. we are just scenery it seems in this great manipulation of industrialized food industry. And as I see it; in an economy where every dollar counts, doesn’t it make sense for the government to hang onto theirs? Pollan, Michael. The Omnivore’s Dilemma. â€Å"A Natural History of Four Meals†. April 2006 This well-known book has been called an â€Å"eater’s manifesto† by critics and peers alike. Pollan, Michael. What’s America Eating? Smithsonian, June 2006. Retrieved on October 4, 2012 http://michaelpollan. om/articles-archive/whats-eating-america/ An article, written with a chronological touch, that takes reader from â€Å"soup-to-nuts† on the history of corn and how it came to western America. Pollan, Michael. When Crop Becomes King. NY Times. July 2002. Retrieved on October 1, 2012 http://www. organicconsumers. org/toxic /toomuchcorn071902. cfm An article written in a way that is easily understood for most. This article describes Zea Mays (original term) from Central America to what we know today as corn Walsh, Bryan. â€Å"Getting Real About the High Price of Cheap Corn†. Time Magazine. August 21, 2009. http://www. time. com/time/magazine/article/0,9171,1917726-2,00. html Walsh is a senior writer for Time Magazine and a correspondent for the last 8 years Health Journalism Fellowship from the Center for Disease Control Foundation. As part of this fellowship, he attended training at the U. S. Centers for Disease Control during summer 2010. Wise, Timothy. Identifying the Real Winners from US Agricultural Policies. Tufts University. December 2005. Retrieved October 1, 2012. http://www. ase. tufts. edu/gdae/Pubs/wp/05-07RealWinnersUSAg. pdf How to cite One Nation Under Corn?, Papers

Template of the Talent Management Plan-myassignmenthelp.com

Question: Write about theTemplate of the Talent Management Plan. Answer: Talent management is a productive weapon that becomes more productive with Millennial. Talent management is a long and continuous process that contains recruitment of suitable candidates as its primary function. It further nurtures the selected candidates to groom them as professional (James Sunday Kehinde PhD 2012). The future of banking industry is expected to face few challenges of which Big Data management is the one challenge (Kaisler et al., 2013). Big Data can enhance the efficiency of banks in knowing the insights of customers. It can also raise the standard of their customer service. However, banking sectors have always lacked in innovation and creativity. This has kept them away from digitalisation (Cunningham 2013). Additionally, banking sectors are largely occupied with Baby-Boomers who loves to continue with the traditional form of data management (Gursoy, Chi and Karadag 2013). HSBC is not any different bank. The bank has challenge in front of it to recruit the maximum possible Millennial and retain them by incepting talent management plan. This is because there is a need for banks to go digitalise. The main purpose of this assignment is to analyse the challenges, which the HSBC Australia or the other banking companies might face in future. Some of the identified challenges are transforming the office culture, motivating the Millennial for banking jobs, recruiting the talented Millennial and retaining the hired professional (Martins, Oliveira and Popovi? 2014). Office culture is still more traditional, which is largely occupied by Baby-Boomers. Problem is not specific to generation but it is specifically with the use of creative process. Data management is a key to enrich the customer service standard in banking sector. This can only be resolved by hiring fresh talented Millennials. Millennials are well versed with update form of technology, which is the need of present and future banks. Big Data management needs an entire team of technical background. The shifting of office culture can be attained if HSBC Australia and other banking companies hire sufficient numbers of talented Millennials. This would fill up the required number of talented professional for conducting different tasks related to Big Data management. Managing Big data requires many activities such as capturing data, storage, data analysis, sharing, visualisation, updating and few others. It provides many more tasks, which need a team of dedicated professional for handling th e tasks. Professionals need to be well versed with different and updated form of technologies. This is only possible if different banks consider the selection of talented graduate professionals (Gursoy, Chi and Karadag 2013). Suggestion would be to recruit talented graduate Millennials. Banking companies like HSBC need to invest healthy sum on various modes of drives. This would provide the most needed workforce to the HSBC Australia. The solution has been identified to counter the future challenges for banking sector; however, it is yet problematic for banking companies like HSBC because Millennials have less flavour for banking jobs. They have more passion for some other industries such as IT, Travel Tours, Forest Adventures, Media and Photography. These are some most sought options, which Millennial prefer. It is a stiff challenge for HSBC Australia and other banking companies to drive the interest of Millennial back to the banking sector. It is challenging but quite feasible. Suggestion would be to introduce the Big Data management. Additionally, they need to reshape their culture, which means including some important concerns for Millennials. Work life balance is one such aspect that Millennials prefer the most. They in fact search for their choice of jobs. At the same time, they are also involved in shuffling with different jobs. This is highly evident that banking sectors need to shift their culture to a s tate, which is highly feasible to Millennials. Their retention is only possible if they get opportunities to explore their creativity and if they get work life balance in their organisation (McAfee and Brynjolfsson 2012). Recruiting the Millennials in the HSBC bank of Australia or the other banking companies is the one potential solution to counter the identified future challenge. Banking sector needs more Millennials who are expertise of managing different tasks related to Big Data. Recruitment is itself a challenge not only for the banking industry but for the other industries as well. There are shortages of talented graduate professionals. In such situation, it is difficult for the Human Resource to get the required numbers of talented professionals. The world is heading towards the era of digitalisation; however, they have to hold back because of shortages of professionals. Competition is higher because many other companies are hunting for the same. It then becomes crucial for the HSBC Australia that it smartly conducts the recruitment process. There must be some innovativeness incepted in the recruitment process, so that, it gets more interviewee responding to the job advertisements. Suggestion w ould be to advertise the recruitment advertisement with some attractive and innovative benefits. Innovative benefits would include the emphasis on work life balance, which is rare with many recruitment processes. Additionally, they can also provide flexible shift timings, which is another concern for the Millennials. Flexible shift timings would also consider the selection made by Millennials. Unlike many other recruitment processes, emphasising on the work life balance and flexible shift timings might certainly attract huge drives (Bowsher 2015). Retention is perhaps the biggest challenge for the banking companies like HSBC Australia. Millennials are very inconsistent with their jobs. They shuffle with different jobs quite frequently. They tend to persist in this state until they get their choice of jobs. Retention is a threat to the HSBC Australia. This is also problematic because the recruitment of Millennials would bring them closer to Baby-Boomers. Cultural conflicts are bound to happen. Baby-Boomers are less innovative; however, Millennials on the other hand are highly innovative. Millennials might not get proper support of Baby-Boomers in the bank. In such situations talent management plan appears to be the solo effective option to dislodge the challenge (Holden et al. 2012). Suggestion would be to conduct the talent management plan. Talent management plan is a continuous process, which is required to incept on a regular basis. It needs high investments from the HSBC Company on the training and development plan. Trainin g would acquaint the hired professionals with the required input in the bank. Development is required immensely to groom the hired professionals on a regular basis. This is highly needed for HSBC Australia because Millennials are highly addicted with job shuffling. Attrition with Millennials is comparatively higher, which is added challenge to the banking sector (Lim and Epperly 2013). There is no other option than to retain the hired Millennials. HSBC can adopt few organisational changes to accommodate the Millennials in it. Millennials are less adaptable in nature, which is why it is necessary that banking companies pay high attention to keep them motivated. This is indeed much difficult to keep them motivated. However, company can consider some changes such as working nature of the workplace in order to keep Millennials connected to the companys objectives. Working nature may include flexible shift time, work life balance, cooperating environment on experimenting with new thought s etc. These three concerns have troubled the banking sectors in past. Nevertheless, this would be a challenge for the HSBC Australia if they consider the mentioned changes. Work life balance and flexible shift time are in the hand of company; however, they do not have any direct control on constructing a cooperative environment for experimenting with creative things (Costello 2013). This is problematic as well because this would produce generational conflicts at the workplace. In such case, development program might fix the issue. Both Millennials and Baby-Boomers need a continuous development program in order to be aligned with the organisational objective. Talent management plan can help the banking companies like HSBC Australia produce a counter to the identified challenges. However, it cannot do any miracle. Productivity of the talent management plan depends hugely on their personal desire and understanding. Development plan can show ways for development but it can never produce development into workforce until they desire. There are ways for banking sectors to counter the loss of challenge that lies ahead; however, it entirely depends on its workforce and their level of acquaintance with the incepted change. Work life balance, flexible shift time and opportunities to do creative things are the three most demandable things for Millennials. Of all the demands, getting cooperative environment from Baby-Boomers is perhaps the biggest challenge that HSBC can face after considering all the recommended suggestions in this essay. References Bowsher, A.N., 2015.Recruiting the" best and brightest": factors that influence academically-talented undergraduates' teaching-related career decisions(Doctoral dissertation, University of Maryland, College Park). Costello, N., 2013.Stability and Change in High-Tech Enterprises: Organisational Practices in Small to Medium Enterprises. Routledge. Cunningham, S., 2013.Hidden innovation: Policy, industry and the creative sector. University of Queensland Press (Australia). Gursoy, D., Chi, C.G.Q. and Karadag, E., 2013. Generational differences in work values and attitudes among frontline and service contact employees.International Journal of Hospitality Management,32, pp.40-48. Gursoy, D., Chi, C.G.Q. and Karadag, E., 2013. Generational differences in work values and attitudes among frontline and service contact employees.International Journal of Hospitality Management,32, pp.40-48. Holden, M.H., Ellner, S.P., Lee, D.H., Nyrop, J.P. and Sanderson, J.P., 2012. Designing an effective trap cropping strategy: the effects of attraction, retention and plant spatial distribution.Journal of applied ecology,49(3), pp.715-722. James Sunday Kehinde PhD, A.C.A., 2012. Talent management: Effect on organizational performance.Journal of Management Research,4(2), p.178. Kaisler, S., Armour, F., Espinosa, J.A. and Money, W., 2013, January. Big data: Issues and challenges moving forward. InSystem Sciences (HICSS), 2013 46th Hawaii International Conference on(pp. 995-1004). IEEE. Lim, A. and Epperly, T.D., 2013. Generation gap: effectively leading physicians of all ages.Family practice management,20(3), pp.29-34. Martins, C., Oliveira, T. and Popovi?, A., 2014. Understanding the Internet banking adoption: A unified theory of acceptance and use of technology and perceived risk application.International Journal of Information Management,34(1), pp.1-13. McAfee, A. and Brynjolfsson, E., 2012. Big data: the management revolution.Harvard business review,90(10), pp.60-68.v