International Arbitration and Islamic Law or Sharia Law Dissertation

International Arbitration and Islamic Law or Sharia Law - Dissertation Example There may be also generation of stipulations attached with the confidentiality of the proprietary information, evidence, backdrop, number of arbitrators, issues attached with arbitration and so on (Kohler & Stucki, 2004). Among the various definitions of arbitration one of the definitions can be mentioned in this case which is as follows: â€Å" two or more parties, faced with a dispute which they cannot resolve for themselves, agreeing that some private individual will resolve it for them and if the arbitration runs its full course†¦.it will not be settled by a compromise, but by a decision† (Born, 2009, p.217). History of arbitration Arbitration finds its roots in the Greek mythology as well as in the Bible (Moloff, 2008, p.186). In the maritime industries of the pre-colonial England as well as within the merchants of diverse trade background, the process of arbitration found its profound utilization. Prior to the industrial revolution, the process of arbitrage was high ly predominant among the American colonies and the process was regarded as an inexpensive and highly private although a voluntary mode highly depending with the ties of the communities as well as pressures for the effectiveness of the policies. The first permanent board of arbitration was established in 1768, by the New York Chamber of Commerce followed by the implementation of the primal comprehensive clause of arbitration although the availability was limited to a restricted number of disputants (Wolfe, 2006, p.432). The scenario widened its horizon with the herald of twentieth century with the necessity of making the process of arbitration an alternative method of dispute resolution. The process strengthened with the creation of organized labor movement. In 1925, the United States Congress enacted the New York Federal Arbitration (FAA) with the notion that the agreements to submit disputes to arbitration should be as enforceable as of any other contracts (Brunet, 2006, p.36). Wit h gradual crawling of time, after 1950s, lawmakers stressed that the process of arbitration can be implemented as a device of resolving international disputes. In 1998, Congress enacted the Alternative dispute Act (ADA) which led to the mandatory equipment of every federal district court for authorizing by local rules, the utilization of the alternative dispute resolution process in all civil actions and also led to the designation of a judge or other employee to be knowledgeable in ADR (Alternative Dispute Resolution) practices. In today’s world of complex legal milieu majority of the lawyers and litigators find it compulsory for the application of ADR processes with arbitration in particular (Bennett, 2009, pp. 9-12). Basic foundation for arbitration The basic foundation on which arbitration rests is that of the consensual nature embedded in it. No arbitration procedure will take place with the without the express consent of each party. The prerequisite of a consensual arbi tration agreement can be inspected as an assemblage of procedures which directs to the avoidance of the default jurisdiction of the domestic courts and hence it must be clearly demarcated. In most of the cases, the agreement of arbitration will require

Managing Human Resources Essay Example | Topics and Well Written Essays - 4000 words

Managing Human Resources - Essay Example As a work motivational approach, Cummings and Worley (2009, p. 434) explained that rewards can either be intrinsic or extrinsic by nature. In line with this, intrinsic rewards include the use of sincere acknowledgement for a good performance whereas extrinsic rewards can be in a form of increased salary, stock options, work promotion, or bonus given to employees (Cummings and Worley, 2009, p. 434). As compared to the use of extrinsic rewards, it is easier to implement intrinsic rewards because HR managers can easily make it a habit to acknowledge the effort of each employee in making the organizational goal attainable rather than requesting the business owners and board of directors to increase the available fund which can be use to reward employees for any improvements in their work performance (Shamir et al., 1993). According to Pfeffer (1998, p. 110), HR managers often ask the question â€Å"how much to pay employees† or â€Å"how much compensation package should be includ ed in the company’s reward system† in order to increase the work performance of each employee. Pertaining to the importance of developing and implementing effective pay and reward system, this report will focus on discussing how internal factors (i.e. organizational vision and mission, organizational structure, organizational culture, business objectives and business strategies) and external factors (i.e. competitors’ pay and reward system that is heavily influenced by economic pressures, the current labour market condition, government implemented labour policies, legal issues concerning the basic labour requirements, and the global labour environment) could shape the organizational approaches when designing a business organization’s pay and reward system (Heneman, Fisher and Dixon, 2001; Zingheim, Ledford and Schuster, 1996). Based on the research findings, the researcher will analyze how each factor is link with the other identified factors when designin g pay and reward systems. Internal Factors that Shapes the Organizational Approaches when Designing Pay and Reward Systems Several research studies revealed that internal factors that could significantly affect the shaping of organizational approaches when designing pay and reward systems includes the organizational vision and mission, organizational structure, organizational culture, business objectives and business strategies (Heneman, Fisher and Dixon, 2001; Zingheim, Ledford and Schuster, 1996). Depending on organizational vision and mission, organizational structure, business objectives and business strategies, a business organization can develop a culture with regards to its accepted and widely practiced pay and rewards system. Communicating the organizational vision to the rest of the employees serves as a guide in the development and implementation of strategic planning. In line with this, a shared vision can be use as a guide in developing the kind of reward system which co uld effectively motivate each employee to improve their work performance (Worldatwork, 2007, p. 39). Upon analyzing the significance of organizational vision and mission in the designing of pay and rewards systems, it is necessary for HR managers to be familiar with the organizational