Types of Stress ified into two types ~ Eustress rrends in Managem rent in our life, cannot elimi nate est of all stress. f ; the stress. there ie We should eliminate unnecessary stress am Meaning of Stress No life without a certain minimum amount of stress: ihe most Popular c = ae a current eo of stressis tension. Tension is an outcome of anxiety and arodety Tanita mugen ot suture events Thus the chief cause of stress is anxiety. This leads to body ailments. 19. management, stress is ‘ae discomfort in mind, This further lefined as the human body's response to the demands made on it. ) st and professor Richard Awidely ac Cepter Lazarus. According oe of stress is given by psychologi perceives that dema im, “Stress is a condition or feeling experienced when 2 person tomobiaen Inds exceed the personal and social resources the individual is able This means u a redoufcasige pie Seer if we believe that we don’t have the time, feel “out of eet] ige to handle a situation. In short, we experience stress when we This als : Some 0 means that different people handle stress differently, in different situations. Difference between Stress and Mood Stress differs from mood. Mood means the way we is a temporary state of heightened emotionality which normally subsides short time. However, a mood may persist and develop into 2 stress. Stress is more damaging to adjustment than moods because it is persistent. The person whoisina “bad mood’ will be nervous and on edge, but these conditions will end when the mood passes. Stress is not so. Even when there is no apparent reason for stress, it will still be present. In short, stress is more serious and long lasting than mood. feel at a particulartime. Amood after a relatively and Distress hen an individual experiences @ ants to fulfil a need or achieved, stress Stress can be class Eustress {this is a pleasant stress. gap between the present and the desirabl achieve a goal, stress arises. When the nee disappears: !t is also known as positive stress or creat Distress : When an individual faces @ condition of distress, he | she feels a sense of helplessness about the target to be achieved. a results in frustration and disappointment that leads to health problems. Distress is also known as negative stress, The difference between eustress and.distress can be put in one sentence + Stress is stress), but it is bad if it wears us down (Distress). good if it motivates us (Eu: This is a condition wI e state. When a person wi d is fulfilled and success itive stres:ples and Practices of Managemeny Stressors There are situations in which most people tend to get stressed. These are called stressors, Stressors refer to those events and situations that cause stress. Some of the common, stressors in life are death of a close relative, termination of services, transfer, separation due to divorce, or change of job, getting married, financial problem, likelyhood of unpleasant secrets becoming revealed ete, in short, factors that cause stress are called stressors. Causes of Stress We all react differently to stressful situations. What is stressful to one person may not be stressful to another. Almost anything can cause stress. For some people, just thinking about something or several small things can cause stress. Common major life events that can trigger stress include: a) job issues or retirement b) lack of time ¢) financial problems d) family problems e) illness f) major life changes g) children and family h) difficulties in relationships (breakdown of relationship) i) Marriage and divorce Other commonly reported causes of stress are: a) abortion or miscarriage b) driving in heavy traffic or fear of an accident fear of crime or problems with neighbours d) pregnancy and becoming a parent excessive noise, overcrowding, and pollution f) uncertainty or waiting for an important outcome Common Forms of Stress Insome people, emotional stress takes the form of anxiety, while in others, the stress is dominated by frustrations, jealousies, and envies. Anxiety Anxiety has been described as a “painful uneasiness of the mind concerning impending or anticipated ill, It represents a danger or threat within the individual. It is the feelings of tension about something to happéf! Anxiety differs from fear and worry, though it develops from them. It is vaguer than fear. Unlike fear, it does not come from a present situation but from some situation the person anticipates,Trends in Manageme, ment Frustratioy n: Fru Tustration is a state of et ate of emotional stress which is chi annoyance, ani senovanes a ange weno frist seOnee Te ce teen cme Seeking behaviour is interfe! out offedbendicaeea from feel a ar has much in common wit ar elings of insecurit ae Tne jealous parse Wat ai mt ie Inaaeaunes be ‘els that he has been deprived O that is right fully hi nae te at he is incapable of d se of defending himself against this © Envy : Like jealou: the BAKER mediate stimulus ts develops from anger and fear. It differs from jealousy in that possession of another person ~a quality of that person, suc asintelligen Ice or ski i Il in sports, or a material possession, such 3° clothes or 3 CF Stress Management. Techniques ues of Stress can be managed in different stress management. 44, Identify the sources of the sources of stress in your life. nagement : 2. Practice the 4 A's of stress ma 1 predictable times/FOr ‘example, Your from your nervous system some stressors arise 2 meeting wit or family gatherings hen handling such ord, When you can either change the sit Jhoose in any given scenario, itis helpful ways. Following are the different techni stress in your life : Stress management starts with identifying, While stress is an automatic response ich option toc! dapt, oF accept. iE cessary stress: oid a stressful alter it. situation, try tO Ifyou can’t alter the stressor, change yourself. ange, accept the things - Ifyou can’t chi ect to others : There js nothing more calming tha 3. ing : another human being who makes YOU feel safe and understood. if you can't av’ n spending quality time withPrinciptes and Practices of Managemen, Tren such A: Maintaining good physical health (Regular physical exercis the. ee * walking, jogging, swimming, cycling etc. helps in dealing with yessa valuatiehern ets 7 Fricases endorphins that make yau feel good, and it can also serve as a valuable distraction pri from your daily worries 7S: | Practice relaxation : Techniques such as meditation hypnosis etc. reduce tension. Relaxation mi techniques Such as voga, deep bracing ete, activate the body's relaxation responce < © Maantain balance with a heaithy lifestyle : In addition to regular exercise, there f are exner healthy lifestyle choices that can increase your resistance to stress. This involu, the following : : : 4) Eata healthy diet ‘ b) Reduce caffeine, sugar and bakery items ; £) Avoid alcohol, cigarettes, and drugs ' 8) Get enough sleep | 7. Time management : Poor time management causes a lot of stress. Scheduling Tatin8S and prioritizing tasks lead to the completion of tasks within a given time frame Time Management not only reduces stress but also ensures that targets are met on time. 8. Accept your mistakes : Mistakes are a part of human life and work. An individual's | mistakes are stepping stones to success. An individual can avoid considerable amount of stress by avoiding egoistic behaviour and accepting mistakes. : 8. Develop a positive attitude towards life : Adopting a positive attitude towards life can reduce stress. it helps the individual to deal better with the problems of daily life BUSINESS PROCESS OUTSOURCING (BPO) BPO is making waves all over the world. tis the new sunrise industry, The major | factor which has led to the development of BPO is its cost advantage! Every company is looking for cost reduction and service quality improvement. So companies give some of their work to outsiders who are experts in that work. Ifsuch works are carried outwithin the company itself, the cost would be more. That is why companies give such jobsto an Outside service provider, Because of the large volume of work and expertise, these outside Service providers can complete the work at lower costs. It is in this manner, BPO ig emerged and developed. Another factor for the development of BPO is globalisation. The revolution in IT and its Convergence with communication technology have made it Possible for companies to think of the whole world as one market place. Thus the whole world has become a small dynamic global village. This has led to the growth of Bro.| BPO is not a new phenomenon or concept. It has been in use since the turn of 20" century when Henry Ford decided that instead of owning rubber plantations to produce its own tyres, it could simply outsource them. Adam Smith wrote about 200 years ago “the maxim of every prudent master is never to attempt to make at home what it will costrrends in Management son, which fed to the growth of him more to, m ‘ake than to buy” based on old economic outsourcing, tt j tis principle of onbie, latest tren This was the primary rea: A din today’s business world. It is pe minor eee eovantane responsible for the growth of BPO include globalisation, competitive markets and mer, Meaning and pate acquisitions. | BPO simply refer: ee onbintsaton ey ett ving part of obo business process by some business processe: er individuals or organizations. Itis the pract outsourced. The commons to specialized service providers] Non-core activi focus on their core ess not part with their core competencies. They maintain alitheir includes SiaSSiae stock activities tke manufacturing, marketing etc. The non-core Serve non:cbnd BSEEEPeS cr customer relations, supply chain management etc) When compesaeeiniienc | sourced, the firm can spend its time and resources for core cha proelia ver, itis possible to minimise costs and to improve the chances of oe eing handled by experts. a oa ee a manufacturing company will outsource their supply chain management ceca pany who specializes in supply chain management. SO it essentially entails 5 fe Of more rom-core business activities or processes to an external sec8% provider. Thus, there are two parties involved in outsourcing, the client company (the outsourced) and the external service provider orthe vendor (the outsourcer). he fundamental principle of outsourcing I eone else who can do parts of your business, either more effectively o Thus, BPO (or simply outsourcing) is the act of transferring so repeated non-core and core business processes to an outside pré reductions while improving service quality. Advantages or Benefits of BPO {Rationale of BPO) ofits enormous benefits. Major benefits BPO has now become the ‘buzzword because of BPO are cost effectiveness, superior competency, utilisation improvement, economies of scale and minimisation of business risk etc. Outsourcing non-core processes to offshore centers brings in enormous cost savings. This results in increased value to shareholders. The advantages of BPO may be outlined as follows: cost effective (Outsourcing some ofthe b cost effective for the client compan) They costs. And they can redirect these Tun developing countries proves to be very cost saving. » anylarge MINC was to outsource their (T'services to India, 30% of the company’s expenses. This is quite a significant difference. an individual or a tice of transferring ities are usually is that there is som: 'r more efficiently or both, than you cal me of an organisation's ‘ovider to achieve cost uusiness processes and activities can be very save on investing in fixed assets and fixed ds for their core activities. Also outsourcing to for these companies. For example, if ‘they would save an average of 4 : d ’(2-Helps to concentrate on the core business : When a company outsources its co, business functions to an external service provider (BPO Company), the companys frag to concentrate on its main tasks. It can concentrate on its future strategies as wel, 3,_£nables tb obtain outside expertise: BPO ensures that experts from another compan, «~~ provide the needed guidance and skills. Hence the company need not recruit ang train personnel. 4 Speed:(One of the biggest advantages of BPOs is that they increase the speed of x ~__ businessprocesses outsourced to them. They have a very good response time and the clients can focus on the core activitie: es fragmentation of activities speeds up the whole process and is very importariti-Cases like customer service. urce one of your business activities to a BPO, you are 5. Skilled manpower {When i ’ you outsot i utsou insured of exemplary Services provided by skilled manpowey So fyou outsource your chain management, rest assured your supply chain will be handled by skilled supply chin managers who are experts in their field. Same goes for IT services or accounting etc. _®> Boosting revenues: By outsourcing non-core processes, companies can focus on increasing their sales and market share, develop new products, expand into new markets Wf ow customer service and satisfaction. ‘ Flexibility é Outsourcing non-core activities to a BPO allows a company to be far more 7. 7 flexible. Firsty, the company does not have to invest in additionally fixed assets and can Italso increases flexibility in resource management of the Convert them to variable cost3 client company and helps in adapting to changes in the environment much faster. isadvantages of BPOs (Risks in BPO) C Porantson 9? Following are the disadvantages or demerits of BPO : _3+ Communication problems : There can be communication gaps between the client and vendor companies due to various reasons. There can be misunderstandings and missed messages. Also, both companies may adhere to different standards of services and this can also create friction between the two. © 2. Different time zones : This is another logistic problem with the Business Process Outsourcing. The client and the vendor can operate in two different time zones that are far apart. The difference in time can create many problems like online meetings, communication etc. 7/3 Loss of Control : Due to communication errors, time differences etc. the client company can at times lose control of the project or the outsourced functions. It loses control of how those tasks are being monitored and performed. Thus the company may feel that the _ quality of services has suffered. : A. Hidden costs : Although outsourcing work is generally considered cheaper, there may be hidden costs. Outsourcing companies or big agencies will typically ask clientTrends jy Trends in Management gemen; 429 include plenty Ore cor Tee ce Owners to si —_ print: tf the Ae contractual agreements, and they will! be a unexpected costs eeray does not read thé terms carefully, it may have 1 Mies ss ni hidden costs and legal problems may arise ithe nditions are not cléarly defined. s essential that client company should yrocesses. d oO - Security ri 'Y risks ; i : In this age of data protection, yutsource PI be cautious that faeces using customer data. ifthe company plans too of its business at pee the company could be placingthe privacy of others or security guarantee data bee pees data onto other people. Even if BPO companies Bese eed anh tunian y, there are high risks of exposing confidential data mainly Rédticea : resources, recruitment, payroll, and account services- : eee gua ity control : Outsourcing companies (vendors or BRO companies) may e motivated by profit rather than a job well done. That means theworkthe client send out may come back quickly but will lack the standard and quality that customers, expect from the client company’s products or servic es. Problems with quality can arise if the outsourcing provider doesn’t have proper proce: \ sses and/ or is inexpe! urcing provider may. / J Delays and inaccuracies : Since the outso | customers, they might not give 100% time and attention to a d inaccuracies in the work output. — ‘may result in delays an — amin te imeia— ae Mp owre LO tne ne: telecom costs. If al SOURCING KNOWLEDGE PROCESS OUT Core informat n related es may Core activities, » activi another c : ‘ompany ry or sometimes in another urcing (KPO), expertise. Compar h circumstances endor) o' (vendor) or a subsidiary company country to reduce costs. This pro Omi e process outs ki ueserve and Co-founder pta, e! x es term KPO was coined by Ashist CEO of Benori Knowledge / The KPO carries out business activities that r quire information Aset of data cannot cOrivey meaning unless it passes through the lens of highly qualified professionals, possessing analytical eyes. Simply say,-a highly qualified and advanced professional of, Say, accounting and finance, research and development, business operations and search and deep analysis. technology, is employed offshore/onshore to look into related re the outsourcing of core, information- ically have advanced degrees and — (Knowledge process outsourcing (KPO) related business activities to individuals that typ! expertise in a specialized area. ) The information-related work can be carried out by workersin a different company or by a subsidiary of the same organization The subsidiary may be in the same country orin an cee location to save costs or other resources. means information related business taskor Thus, Knowledge Process Outsourcing (KPO) knowledge-based processes such as research, analysis, consultancy OF any other high-level he workers of another company orallocated to: e sub tasks are outsourced, i.e., done bytror TE MaReipeT ent eee x of the sam, : 3 tries or geographical organi; location, Thi. ization. These subsidiaries can be In different coun s is done Services in order to save resources and costs. Provicdk Resa kro (Types of KPO Services or Scope of KPO) ? sour erat sarmces, KPO provides the HONS services ; vice outsourcing utsourcing a. It covers variety of acti Engineering Sef _A) Investm “ ent res, bgMineeeeeec Financial Research Ol ¢) Data anat “is eee usiness Research : lytics « d) Busi pesign & Animation usine ys ea Ss research services <=, analysis al A ty Process outsourcing erg Marketing Services | asic rublishing Ou' ircing 7 er cele nalysi i egal Proces: in alysis and interpretation a re aeeicN arket Research Outsourcin Z Benefits or Advantages of po. / [77/2446 nce once said, “Do what you do the best. roeea millions of dollars in the present scenario. 0 USS 85.6 million in 2018. The advantages of KPO are: A. Cost-effectiveness: One of the biggest advantages of a KPO is ‘obviously the cost advantage. The company does not have toset up any infrastructure or bear any operational or running costs. z 2. Access to the best talent: KPO provides the company with the best, most knowledgeable and skilled professionals available in the global talent pool. Andifthe KPOisina developing country like India or Philippines then the cost of such talent is also relatively low. utsourcing some of the processes, allows the company to focus on its core eripheral functions, and the company can better focus their efficiency and results. n of resources: If the company outsources the process that is not at the it can use the resources saved in better places. Suppose, a company outsources its supply chain management. Then the resources it saves On this can, be utilized to streamline the ‘manufacturing process, R&D activities, better marketing etc. ity of KPO allows a company to increase or reduce staff easily. For sae : The flexi xample, if economic conditions worsen, a company can easily reduce its KPO staff to cut e costs. Conversely, a company: can quickly hire specialized staff to boost profits or revenue. vantages or Demerits of KPO (Risks in Outsource the rest.” His saying The global outsourcing market 3. Focus: O1 7 functions. The KPO handles the p ‘on its core functions and improve 4, Better utilization 7 core of their business strategy, Disa KPO) The disadvantages of KPO may. be outlined as below :ssified info 1. Lack of conidentiaiity | 2 fi ‘prought to e competitor. T san mation i prvare nancial inrormat . ‘gure? Companies have 2. No vas a result, a company workers sursourced emp! Communication proble challenge due to language barrier. company seeking immediate results. s. Existing employees feel threatened : Existing employees might feel threatened by the hiring of outsourced workers. The existing employees feel that they may lose their jobs. Difference between BPO and KPO BPO srmation about the company is likely to be ere is always the risk of leaking of sensitiyg less control over the hiring Process of outsouy might not be able to ensure the character Of thety joyees or the quality of their work. m : Lack of communication between partners due to jenguage and cultural barriers can lead to complications. Communication ig , 4. Time consuming : KPO is time consum| principles and Practices of Manager, ing and cannot provide a quick fix to the KPO Outsourcing of non-primary activities toa third-party service provider for service to decrease the cost and incr- ease the productivity and efficiency. 2. BPO provides services like customer care, technical support through voice processes, tele-marketing, sales, etc. 3. Requires good communication skills and basic computer knowledge. 4. Provides low end services. 5. Requires not so qualified employees. 6. Relies on cost arbitrage. 7. Based on rules, 8. BPO is less complex. 9. It needs process expertise. wenn tn india a eh 1. Outsourcing core information related business activities which form an integral, part of company’s value chain. 2. KPO provides in-depth knowledge, exper- tise and analysis on complex areas like legal services, business and market research, etc. 3. Requires specialized knowledge. Provides high end services. Requires skill and expertise of knowledge employees. , Relies on knowledge arbitrage." ~~ Based on judgment. KPO is highly complex. It needs knowledge expertise.