Ministry of Primary
and Secondary Education
ZIMBABWE
Ministry of Primary
and Secondary Education
ZIMBABWE
This program aims to facilitate a smooth collaboration between companies and students.
Companies have a duty to actively participate in social responsibilities.
The main purpose of this program is to give companies and training institutes a chance to mold students and prepare them to the expected standards for future employment. Companies will be able to equip students with skills, expertise and the industrial expectations from an early age.
This knowledge transfer will benefit both parties, the industry benefits skilled workers with practical training and specialized expertise, while students will benefit hands on experience while working with pertinent technologies and exposure to problem solving scenarios.
Industrial research and development partnerships gives leverage to each other's strengths, resources, and networks to achieve mutual benefits. Companies benefit from increased sales, improved customer satisfaction, reduced costs while enhancing innovation.
These collaborations bring advantages to organizations by being up to date with new developments, accurate data, fundamental research support and business strategy, building bridges between researchers and business people.
Organizations may also take these collaborations as a long-term investment, helping to build research to local students with the hope of benefiting in future.
As this unfolds, this will be a sustainable way for companies to contribute to the local community There are four areas that you can recruit local students to participate in your company or training institutes ie:
What is Research and Development? This period can be from one day to a year. Research & Development (R&D) are partnerships between our students and companies. This is necessary to enable companies to improve their processes and services to the community. This is a great way to participate in social responsibility. Companies can also take this as way of equipping tomorrow's work force. This is an exercise that enables businesses to advance their technological platforms, create competitive products, and offer value-added services from knowledge transfer between companies and students. With collaborative research, students brings their own unique perspectives, skills, and expertise to the Organization. This means companies benefit from a variety of perspectives and ideas. It also allows students to learn from each other and build on each other's ideas.
This period can be from six months to a year.
This platform interconnects students and companies by connecting students looking for attachments and companies looking for attachees.
History reveals that organizations which attach students have been seen to gain new perspectives and ideas coupled with technologies gained in student's programs and students will be having exposure to implement them in real work environments. This is a great way to participate in social responsibility as companies equip tomorrow's work force. The benefits of Industrial Attachment enable students to acquire some soft or generic employability skills which include: good communication skills, teamwork, ability to build positive relationships; self and time management, ability to influence others and to negotiate and problem-solving skills.
This system will simplify employee recruitment process and student selection processes.
This system allows companies to attract a wide pool of applicants and narrow the selection down until they get a perfect candidate for every opening. The system is designed to reduce recruitment expenses and high turnover as this system is a mutual beneficial arrangement to both parties, very low turnover is anticipated.
Students make decisions based on the information that companies supply and choose which company they want to case/under study.
The value of company’s sales in a given time period, usually one year (between January 1 and December 31). Income refer to proceeds generated by the business in the sale of goods and services in the line of business.
The amount of a company’s profit in a given time period, usually one year (between January 1 and December 31). Profit describes the financial benefit realized when revenue generated from a business activity exceeds the expenses, costs, and taxes involved in sustaining the activity in question
A profit margin refers to the percentage of profit in view of sales.
Number of Employees means the number of annual labour units (ALU), namely the numbers of persons employed full-time in one year Some business can use more machinery than the others. Usually, the firm with automated production will require far fewer workers than the one that is using traditional methods.
The value of company’s revenue expressed as a percentage of the industry’s total revenue in a given time. This is calculated using the following formula:
Market Share = Total sales of a business / Total sales of the whole industry
The value of the firm’s long-term finance invested (employed) in the business for the business to function. Capital needed for long-term investment is used for a business in order
to produce goods and provide services to customers, for example land, premises, machinery, equipment and tools. Usually, the larger the business, the more capital employed the business will have.
Capital Employed = Retained Profit + Share Capital + Long-term Liabilities
Market capitalization, or market cap, is one measurement of a company's size. It's the total value of a company's outstanding shares of stock, which include publicly traded shares plus restricted shares held by company officers and insiders.