We Tested the Hypothesis That Employee Turnover and Firm Performance Have an Inverted U-Shaped Relationship: Overly High or Low Turnover Is Harmful. Our Analysis Was Based on Economic Performance Data from 110 Offices

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Chapter 1

1 Introduction

Global is changing life is a part of that environment change, its complex and challenging to achieve the life. Achieving the life not only for a single person but also for an entire organization success is beyond that. Path of success may have to face many problems such as environment change, labour problems, limited resources market situation etc.

Some organization easily over come the problem, some will take time to solve it but some of them will lose to over come from the problem finally the company will vanish from the market. But every organization always beyond on problems but a proper management helps to avoid those circumstances.

Today the rapidly changing world is combined with multiples of organizations. There are various ways of defining an organization. A well-quoted definition indicates that an organization is a collection of people to achieve some common goals .organization is engaged in economic as well as social activities and they have both economic and social objectives depending on the man power of that organization. Also an organization is a group of persons whose interactions are structured into goal –directed activities. Organizations are bound with vision, mission, goals, objectives, policies, procedures, etc all are created to achieve the objectives. When starting their path with the target customers organizations are tend to face many challenges, obstacles, barriers and problems in their successful track.

Today’s companies, governments and non-profit organizations are recognized that to be successful, they need to be conversant with and modern techniques. Many organizations use many new technologies to face organizational trends. When facing the challenges, modern management helps a lot for the organizations. So management also plays a major role in the organizational context. For each and every activity we need management. Management has become the main success factor of organizations .Management is a results oriented discipline, which is centered on an organizational unit. The organizational unit can be a family a particular business organization, or a cartel. All these organizations do some business activity with a particular objective in mind they can be called as business organizations. Whatever the objectives these organizations hold, profit or otherwise proper management of limited resources would certainly help them to successfully realize their objectives. The scarcity of resources is the central problem of any society. Scarcity simply means the shortage of resources compared to unlimited human needs. World is developing, population is growing, more and more human needs are adding to the human life. Together with all these scarcity more will be needed for a better use of resources.

Hence, there is a higher need for a better management today than yesterday. So as a management student I wish to select my project as “Higher Labour Turnover at “Wariyapola Estate’s Rubber factory”, Matale. And through my management knowledge, I hope that an effective solution can provided by myself. Therefore let us move to the other related topics to get a better result.

Researchers and projects help to overcome with better solutions and projects outlines our abilities, knowledge and talents. Therefore I think this project also will help to develop my carrier path meanwhile achieve organizational goals and objectives successfully.

1.1 Introduction to the Project

As a requirement of the course, the students are advised to prepare a project using the knowledge that we have gained during the period of study. This includes subject knowledge as well as practical knowledge. The project will help the students identify an on going problem, analyze it and provide necessary solutions from the knowledge that they have gain during the course of study.

Therefore, this project is undertaken by selecting a well established...
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