Objectives and functions of WTO

The important objectives of WTO are:

1. To improve the standard of living of people in the member countries.

2. To ensure full employment and broad increase in effective demand.

3. To enlarge production and trade of goods.

4. To increase the trade of services.

5. To ensure optimum utilization of world resources.

6. To protect the environment.

7. To accept the concept of sustainable development.

Functions:

The main functions of WTO are discussed below:

1. To implement rules and provisions related to trade policy review mechanism.

2. To provide a platform to member countries to decide future strategies related to trade and tariff.

3. To provide facilities for implementation, administration and operation of multilateral and bilateral agreements of the world trade.

4. To administer the rules and processes related to dispute settlement.

5. To ensure the optimum use of world resources.

6. To assist international organizations such as, IMF and IBRD for establishing coherence in Universal Economic Policy determination.

dynamic of perception

 

WTO

 

History and operations of W.T.O

World Trade Organization (WTO) is the successor to General Agreement on Tariffs and Trade (GATT). According to the agreement reached in the Uruguay Round, GATT was converted into a formal international organization called World Trade Organization. WTO came into operation on 1st January 1995. Now, WTO serves as an international framework for world trade. It is being directed by a Ministerial conference which will meet at least once every two years. Its normal business operations will be overseen by General council.

Objectives of W.T.O

Based in Geneva, Switzerland, WTO serves the following objectives:

1. Enhancing the standard of living and income, promoting full employment, expanding production, trade and optimum utilization of world’s resources.

2 Introducing sustainable development, a concept which envisages that development and environment can go together.

3. Taking positive steps to ensure that developing countries, especially the least developed ones, secure a better share in world trade.

Functions of W.T.O

World Trade Organization is a powerful body with enlarged functions. It is envisaged to play a crucial role in the world’s economic affairs.

The essential functions of W.T.O are as follows:

1. Administering and implementing the multilateral and plurilateral trade agreements. Providing the framework for the implementation, administration and operation of plurilateral trade agreements.

2. To provide symposium for dialogues among members nations regarding multilateral trade relations in matters delineated in the agreements.

3. Administering the understanding on rules and procedures governing the settlement of disputes.

4. Seeking to resolve trade disputes.

5. Overseeing national trade policies.

6. Administering the trade review-mechanism in relation to international trade.

7. Cooperating with international institutions such as IMF and IBRD and its affiliated agencies involved in global policy making.

Functions of W.T.O’s General Council

The regular business of WTO is over seen by a General council. The General Council performs the following functions:

1. Supervising the functioning of revised agreements, operations of the revised agreements and ministerial declarations related to goods and services, trade related aspects of intellectual property rights (TRIPs) on regular basis.

2. Acting as a dispute settlement body.

3. Serving as a trade review mechanism; and

4. Establishing Goods councils, services councils and TRIPs councils as subsidiary bodies.

  

Differences between GATT and WTO

The World Trade Organization (WTO) is more powerful than General Agreement on Tariffs and Trade (GATT) with enlarged functions in dealing with world economic affairs. Hence, the WTO cannot be simply regarded as the extension of GATT. It completely replaces GATT by sporting a totally different outlook.

Differences between GATT & WTO

 The following are the principal differences between the GATT and WTO.

GATT	WTO
1. The GATT was a set of rules. It has no institutional foundation and is just a multilateral agreement. It functioned only with a small associate secretariat.	1. WTO is a powerful body with enlarged functions. WTO functions with its own secretariat.
2. GATT was adhoc and provisional. Only after forty years, various governments chose to treat it as a permanent commitment.	2. WTO commitments are full and permanent.
3. GATT was applied to trade in merchandise goods.	3. WTOs covers trade in services as well as trade related aspects of intellectual property rights (TRIPs).
4. GATT was selective in nature, it was a multilateral instrument and in 1980s many new agreements of a plurilateral nature were added.	4. WTO involves commitments for the entire membership by remaining multilateral in nature.
5. GATT was less powerful and its dispute settlement was slow and less efficient. Its rulings could be easily blocked.	5. WTO is more powerful than GATT. The WTO dispute Settlement is faster and effective and thus much less susceptible to blockages than GATT.
6. GATT had contracting parties.	6. WTO has members.
7. Existing domestic legislation are allowed to continue by the GATT System even if it violates the agreement.	7. WTO does not permit this.

What is Staffing?

 

What is Staffing?

Definition: Staffing can be defined as one of the most important functions of management. It involves the process of filling the vacant position of the right personnel at the right job, at right time. Hence, everything will occur in the right manner.

It is a truth that human resource is one of the greatest for every organization because in any organization all other resources like- money, material, machine etc. can be utilized effectively and efficiently by the positive efforts of human resource.

Therefore it is very important that each and every person should get right position in the organization so as to get the right job, according to their ability, talent, aptitude, and specializations so that it will help the organization to achieve the pre-set goals in the proper way by the 100% contribution of manpower. Thus it can be said that it is staffing is an essential function of every business organization. From this, we can understand what is Staffing?

(Source: roberthalf)

Meaning and Importance of Staffing

2 mins read

Functions of Staffing

1. The first and foremost function of staffing is to obtain qualified personnel for different jobs position in the organization.
2. In staffing, the right person is recruited for the right jobs, therefore it leads to maximum productivity and higher performance.
3. It helps in promoting the optimum utilization of human resource through various aspects.
4. Job satisfaction and morale of the workers increases through the recruitment of the right person.
5. Staffing helps to ensure better utilization of human resources.
6. It ensures the continuity and growth of the organization, through development managers.

Browse more Topics under Staffing

• Staffing in HRM & Its Revolution
• Staffing Process

Learn more about the Process of Staffing here.

Importance of Staffing

Efficient Performance of Other Functions

For the efficient performance of other functions of management, staffing is its key. Since,  if an organization does not have the competent personnel, then it cannot perform the functions of management like planning, organizing and control functions properly.

Effective Use of Technology and Other Resources

What is staffing and technology’s connection? Well, it is the human factor that is instrumental in the effective utilization of the latest technology, capital, material, etc. the management can ensure the right kinds of personnel by performing the staffing function.

Optimum Utilization of Human Resources

The wage bill of big concerns is quite high. Also, a huge amount is spent on recruitment, selection, training, and development of employees.  To get the optimum output, the staffing function should be performed in an efficient manner.

Development of Human Capital

Another function of staffing is concerned with human capital requirements. Since the management is required to determine in advance the manpower requirements. Therefore, it has also to train and develop the existing personnel for career advancement. This will meet the requirements of the company in the future.

The Motivation of Human Resources

In an organization, the behaviour of individuals is influenced by various factors which are involved such as education level, needs, socio-cultural factors, etc. Therefore, the human aspects of the organization have become very important and so that the workers can also be motivated by financial and non-financial incentives in order to perform their functions properly in achieving the objectives.

Building Higher Morale

The right type of climate should be created for the workers to contribute to the achievement of the organizational objectives. Therefore, by performing the staffing function effectively and efficiently, the management is able to describe the significance and importance which it attaches to the personnel working in the enterprise.

Characteristics of Staffing

People-Centered

Staffing can broadly view as people-centered function and therefore it is relevant for all types of organization. It is concerned with categories of personnel from top to bottom of the organization.

• Blue collar workers (i.e., those working on the machines and engaged in loading, unloading etc.) and white collar workers (i.e., clerical employees).
• Managerial and Non Managerial personal.
• Professionals (eg.- Chartered Accountant, Company Secretary)

Responsibility of Manager

Staffing is the basic function of management which involves that the manager is continuously engaged in performing the staffing function. They are actively associated with the recruitment, selection, training, and appraisal of his subordinates. Therefore the activities are performed by the chief executive, departmental managers and foremen in relation to their subordinates.

Human Skills

Staffing function is mainly concerned with different types of training and development of human resource and therefore the managers should use human relation skill in providing guidance and training to the subordinates. If the staffing function is performed properly, then the human relations in the organization will be cordial and mutually performed in an organized manner.

Continuous Function

Staffing function is to be performed continuously which is equally important for a new and well-established organization. Since in a newly established organization, there has to be recruitment, selection, and training of personnel. As we compare that, the organization which is already a running organization, then at that place every manager is engaged in various staffing activities.

Therefore, he is responsible for managing all the workers in order to get work done for the accomplishment of the overall objectives of an organization.

Solved Example for You

Q1. Staffing is concerned with _________.

1. plans
2. policies
3. procedures
4. management of managers

Sol. The correct answer is the option ”d”. Staffing is concerned with the management of managers as staffing is performed by every manager of the enterprise as he is actively associated with the recruitment, selection, training, and appraisal of his subordinates.

https://www.toppr.com/guides/business-studies/staffing/introduction-to-staffing-and-its-meaning/

 

Staffing Process

Staffing is the process of recruiting employees who are eligible for certain positions in a company. Steps involved in the staffing process are 1. Manpower Planning, 2. Recruitment, 3. Selection, 4. Placement, 5. Training, 6. Development, 7. Promotion, 8. Transfer, 9. Appraisal, 10. Determination of Remuneration. Let us learn about the steps in detail.

Staffing Process

It is a truth that human resource is one of the greatest for every organization because in any organization all other resources like- money, material, machine etc. can be utilized effectively and efficiently by the positive efforts of human resource.

Therefore it is very important that each and every person should get right position in the organization so as to get the right job, according to their ability, talent, aptitude, and specializations so that it will help the organization to achieve the pre-set goals in the proper way by the 100% contribution of manpower.

(Source: canstockphoto)

Steps involved in Staffing Process

1. Manpower Planning
2. Recruitment
3. Selection
4. Placement
5. Training
6. Development
7. Promotion
8. Transfer
9. Appraisal
10. Determination of Remuneration

Now, the process of Staffing can be explained in the following ways as follows-

 of Staffing

3 mins read

1. Manpower Planning

 Manpower planning can be regarded as the quantitative and qualitative measurement of labour force required in an enterprise. Therefore, in an overall sense, the planning process involves the synergy in creating and evaluating the manpower inventory and as well as in developing the required talents among the employees selected for promotion advancement

2. Recruitment

Recruitment is a process of searching for prospective employees and stimulating them to apply for jobs in the organization. It stands for finding the source from where potential employees will be selected.

3. Selection

Selection is a process of eliminating those who appear unpromising. The purpose of this selection process is to determine whether a candidate is suitable for employment in the organization or not. Therefore, the main aim of the process of selection is selecting the right candidates to fill various positions in the organization. A well-planned selection procedure is of utmost importance.

4.  Placement

Placement means putting the person on the job for which he is selected. It includes introducing the employee to his job.

5. Training

After selection of an employee, the important part of the programmed is to provide training to the new employee. With the various technological changes, the need for training employees is being increased to keep the employees in touch with the various new developments.

6. Development

A sound staffing policy provides for the introduction of a system of planned promotion in every organization. If employees are not at all having suitable opportunities for their development and promotion, they get frustrated which affect their work.

7. Promotions

The process of promotion implies the up-gradation of an employee to a higher post involving increasing rank, prestige and responsibilities. Generally, the promotion is linked to increment in wages and incentives but it is not essential that it always relates to that part of an organization.

8. Transfer

Transfer means the movement of an employee from one job to another without increment in pay, status or responsibilities. Therefore this process of staffing needs to evaluated on a timely basis.

9. Appraisal

Appraisal of employees as to how efficiently the subordinate is performing a job and also to know his aptitudes and other qualities necessary for performing the job assigned to him.

10. Determination of Remuneration

This is the last process which is very crucial as it involves in determining remuneration which is one of the most difficult functions of the personnel department because there are no definite or exact means to determine correct wages.

Benefits of Staffing Process

The benefits of an effective staffing function are as follows-

• Staffing process helps in getting right people for the right job at right time. The function of staffing helps the management to decide the number of employees needed for the organization and with what qualifications and experience.
• Staffing process helps to improved organizational productivity. Therefore, through proper selection of employees in the organization, it can increase the quality of the employees, and through proper training, the performance level of the employees can also be improved.
• It helps in providing job satisfaction to the employees and thus keeps their morale high. With proper training and development programmer, the employees get motivation and their efficiency improves and they feel assured of their career advancements.
• It maintains harmony in the organization. Therefore with an overall performance of proper staffing in an organization, the individuals are not only recruited and selected and but as a result, their performance is regularly appraised and promotions made on merit which fosters harmony and peace in the organization for the accomplishment of overall objectives of an organization.

 Solved Example for You

Q: Recruitment is a ________.

1. Two-way process
2. One way process
3. Three-way process
4. None of the above

Ans: The correct option is A. Recruitment assures that the right job is being provided to the right person at the right time at the right place with maximum satisfaction to the job applicant as well as the organisation.

https://www.toppr.com/guides/business-studies/staffing/staffing-process/