...occurs in slow business cycles. By employing creative recruiting strategies in tandem with the latest technology developments, you can reduce recruiting costs while driving exceptional business results. Creative recruiting strategies in tandem with the latest technology provide the opportunity to reduce recruiting costs while powering exceptional business results. Target Direct Cost Savings Total recruiting process expenses are the sum of external costs plus internal labor costs. Most organizations can reduce recruiting expenses with direct cost savings. While additional savings on indirect costs can be realized from process improvement and efficiency gains, there are direct cost savings and benefits readily available in three broad areas: sourcing, assessments, and green recruiting. Sourcing: Reduce Agency Costs Agency search firm fees can amount to 35 percent of a new employee’s annual base salary. Typically taken from the hiring department budget, these fees may not be visible to HR. By relying on internal mobility programs, referrals, candidate pipelines, and corporate career Websites, organizations can reduce or eliminate this agency spend. And when you do have to pay third-party agency fees, you can optimize the value you receive by collaborating with agencies to identify referred candidates, ensure access to candidate data and history, and receive automatic notifications and correspondence. Sourcing: Reduce Advertising Costs You can realize significant cost reductions...
Words: 879 - Pages: 4
...well-designed competitive business strategy called differentiation strategy and good human resource strategies called external differentiation and internal differentiation. The competitive business strategy for Hesen is to differentiate themselves from other law firms. The company has been trying to meet their clients’ special needs and make their services unique in certain respects. This differentiated competitive strategy has helped the company earn a large amount of money for the last five years. However, this well-designed business strategy results in high expenses to the. Hesen spends over twenty thousands dollar every year on development programs in order to provide services that other companies cannot or find difficult to imitate. In order to fit with the company’s overall business strategy, Hesen developed a combination of external and internal differentiation human resource strategy. Since there is no way for the company to provide all services to their clients, Hesen hires free agents to provide specific services. In addition, the company also has committed experts who have already worked for them for a very long time. These employees are loyal and have expertise in high level jobs which gives the company advantages over their competitions. For the rest of this paper we will discuss the staffing strategies including recruiting and hiring, development strategies including performance management and employee training program, and retaining strategies including compensation,...
Words: 1637 - Pages: 7
...and Conceptual Model Finn Wynstra and Ferrie van Echtelt Eindhoven Centre for Innovation Studies/Institute for Purchasing & Supply Development, Eindhoven University of Technology, PO Box 513 - 5600 MB Eindhoven, Netherlands Tel. +31 40 2473841, Fax +31 40 2465949, j.y.f.wynstra@tm.tue.nl, f.e.a.v.echtelt@tm.tue.nl Abstract This paper presents a critical literature review concerning the effects of involving suppliers in product development, the critical processes underlying the management of this involvement and the potential driving and enabling factors for managing supplier involvement in product development. Together they constitute the building blocks for a ‘input-throughput-output’ model that helps in understanding the crucial elements of how to manage supplier involvement in product development. This model draws on our previous work in this area, but focuses more clearly on the ‘inputs’ and ‘outputs’ of managing supplier involvement. Introduction to managing supplier integration in product development Literature on product innovation has been pervasively trying to distil the key ingredients for company success. Many of the internal and external actors that are involved in product development - and the interfaces between them - have been subjects of research. Especially the interface between R&D on the one side and marketing and customers on the other side has been investigated (Souder and Chakrabarti 1978; Souder 1988; Griffin and Hauser 1996; Sherman et al. 2000). Compared...
Words: 12263 - Pages: 50
... is An Integral Part of Resource- Based View of An Organization Phuong Duong University College Dublin (12251697) 4112 words ABSTRACT Procurement has become an increasingly widespread practice among organizations and is today of strategic importance that attract great interest from scholars in the literature. The primary purpose of the paper is to contribute with a review of leading studies that analyze procurement from the resource-‐based view of the organization. The paper begins by setting out the business environment of procurement and then presents the development and propensity of procurement. This is followed by a review of principal works and differences of perspectives of resource-‐based view. The next section contains an analysis of the relationship between procurement and resource-‐based theory and discusses empirical works on outsourcing...
Words: 5448 - Pages: 22
...Hire A Literature Review The study investigates the evolution, pros and cons of outsourcing as business function. Many researchers have identified various reasons to outsource an activity following a set process. The review proposed a well defined integrated outsourcing process model for effective outsourcing. Using an example of a global company this study detailed the benefits of externalization process and concluded that outsourcing is successful if activity selected is correct. Hire OUT-Sourcing 2 Global Procurement (BMO 5307) Assignment 1 Hire OUT -Sourcing A Literature Review Hire OUT-Sourcing 3 Contents Introduction ............................................................................................................................ 4 United Technology Corp. (UTC) ................................................................................................... 5 Rise of an Era - History & Evolution ......................................................................................... 5 Why Outsourcing? ................................................................................................................... 5 Procurement Outsourcing & UTC................................................................................................ 6 Where To Begin? ..................................................................................................................... 7 What UTC Was Willing To Achieve? .................
Words: 5031 - Pages: 21
...WILLIAM R. GROTEVANT Global Business partner – strategic planner – talent ACQUISITION ➢ Managed best-in-class Business Unit acquisition in Frankfurt Germany for Nypro Healthcare ➢ Advisory Board member for Pharmaceutical Packaging strategic initiative ➢ Sourced/hired senior level Design/Development team for new medical/surgical group ➢ Integrated PEAK Surgical (Palo Alto, CA) with Salient Technologies (Portsmouth, NH) MEDTRONIC, INC. Portsmouth, NH 2012 – Present Advanced Energy, LLC Global HR Director/Strategic Business Partner • Direct report to VP/GM global $300M surgical technologies business unit – HR/OD strategy. • Focus on 200 person commercial team – transition from distributorship model to B2 B direct sales. • Part of new leadership team – long-term strategic goal: $1B annual revenues by 2020. • Aggressive expansion plans in underserved surgical markets: India, China, and South America. • Executive staffing, succession planning, leadership development and talent management focus. • Driving unique high-performance culture setting the bar for MDT in double digit growth model. NYPRO, INC. Clinton, MA 2009 – 2012 Healthcare Global Business Unit $1.4B Global Medical Device Manufacturer Global Director, Human Resources • Sr. HR Executive for Healthcare Global Business Unit – reported to GBU Group President • Lead...
Words: 866 - Pages: 4
...School, University of Cambridge, UK Department of Production, Faculty of Technology, University of Vaasa, Finland art ic l e i nf o Article history: Received 31 May 2012 Accepted 13 June 2013 Available online 28 June 2013 Keywords: Value chain Supply chain management Operations strategy a b s t r a c t Over the past three decades scholars have developed comprehensive insights into the operational and strategic aspect of designing and managing the supply chain. Reviewing this ample body of knowledge however one cannot help but notice a persistent disunion between the “value chain” view that considers aspects of value creation and appropriation, and the operational “supply chain” view that considers strategies and tools for designing and operating efficient inter-firm networks. Commonly these views do not interact: value creation has the aim of capturing the maximum value-added in financial terms, the supply chain view aims for designing operationally efficient supply chains. In contrast to their treatise within the academic literature, from a practical point of view these two aspects are both necessary (and thus in their own right insufficient) components to a firm's supply chain strategy. In this paper we thus turn to an exploratory case study to identify what such a combined view of the value and supply chain would entail. We refer to this purposeful creation as the “value chain architecture” and propose five fundamental decisions that define the latter: (1) the nature of value...
Words: 8254 - Pages: 34
...willed $20 million with no will or codicil related restrictions as to the direction that the capital can be invested. The university has chosen that the best use of the $20 million is to invest into a Nanotechnology Center, which will be set to begin construction in the Spring of 2013. The decision process on how to invest the $20 million in the Nanotechnology Center will be outline by a normative approach. The normative decision process includes developing an idea for the investment in the Nanotechnology Center based upon an optimal decision. The optimal decision is that SUNY IT should invest in a Nanotechnology Center. In developing the normative decision process for investing the $20 million the paper will look at other possible options, design and implementation, technology strategy, technology policy, and tight appropriability regimes (Burgelman, Christensen, & Wheelwright, 2009). The Nanotechnology Center at SUNY IT will help meet the needs of the New York state initiative in the greater Utica area in bringing in nanotechnology jobs as part of Nano Utica (SUNY IT, 2014). Comparing the Nanotechnology Center to Other Investment Options As New York’s public polytechnic university, SUNY IT must meet the growing demand for technical degree fields and the necessary facilities to promote growth in the state of New York. The next major project being considered is the Nanotechnology Center at the SUNY IT campus to provide for both academic experience and commercial research...
Words: 1550 - Pages: 7
...preview Global Sourcing Development at IKEA – a Case Study Paper prepared for the 25th IMP conference Jens Hultman1, Susanne Hertz1, Rhona Johnsen2, Thomas Johnsen2 1: Jönköping International Business School, P.O Box 1026, SE-551 11 SWEDEN E-mail: jens.hultman@ihh.hj.se, susanne.hertz@ihh.hj.se Tel: +46 0(36) 10 10 00 2: Audencia Nantes School of Management, 8 Route de la Joneliere, BP 31222 – 44312 Nantes Cedex 3, France. E-mail: tjohnsen@audencia.com; rjohnsen@audencia.com Tel: + 33 (0)240 37 46 25 Abstract This study explores the dynamic process of global sourcing development through a case study of the Swedish home furnishing giant IKEA and its supply network concerning the PAX wardrobe system. The paper provides a synthesis of the existing global sourcing literature by dividing this growing body of research into three major themes: globalization processes and stages, motives/drivers, and organizational design and management. Moreover, the paper integrates the global sourcing literature with the established literature on the internationalization process of firms. Comparing the existing research on global sourcing and internationalization, we propose two research questions focused on: (1) the ways in which the IKEA global sourcing and supply chain development process resembles a linear stages process, and (2) the principal drivers of the development of global sourcing within IKEA. Relating the findings of the global sourcing process in the case of IKEA, the paper suggests that...
Words: 11008 - Pages: 45
... ISCOM 373 Week 1 Article Analysis Paper ISCOM 373 Week 2 Procurement Strategies Review and Presentation ISCOM 373 Week 3 Outsourcing Insourcing Proposal ISCOM 373 Week 3 Sourcing Process Evaluation Summary ISCOM 373 Week 4 Negotiating Across Cultures Paper and PowerPoint Presentation ISCOM 373 Week 4 Negotiation Strategies Paper ISCOM 373 Week 5 Contract Administration Paper and PowerPoint Presentation ISCOM 373 Week 5 Future Trends in Purchasing Paper ISCOM 373 Week 1 DQs and Summary ISCOM 373 Week 2 DQs and Summary ISCOM 373 Week 3 DQs and Summary ISCOM 373 Week 4 DQs and Summary ISCOM 373 Week 5 DQs and Summary -------------------------------------------------------------- ISCOM 373 Week 1 Article Analysis Paper For more classes visit www.snaptutorial.com Using a local or national newspaper, news magazines, the Internet, or other additional article sources, locate a current (no older than four months) news article that addresses the strategic role of procurement in an organizational setting. Prepare a 700-1,050-word paper that explains the similarities and/or differences between the purchasing role listed in the article and your organization's current purchasing role, or use an organization with which you are familiar. Identify any improvements that might enhance your selected organization’s procurement function. Be sure to properly cite your references. Be prepared to discuss this assignment in class. The paper should be 700-1000 words minimum. I do...
Words: 482 - Pages: 2
...Outsourcing – A Global Challenge MBA-700 International Economics Abstract The choice to outsource is a major strategic decision not made lightly by companies in today’s global marketplace. Though it brings probable results of cost reduction, loss of control in your product or the quality of service rendered makes this a decision that should not be taken lightly. Though a concept decades old, outsourcing is a topic that brings out fervor in individuals fighting for or against it. It’s a debate centered on moral, economical, and political aspects, with feelings that intensify during economic downturns because of the This paper will discuss theories of outsourcing, while comparing and contrasting the disadvantages and advantages (SWOT Analysis – see Appendix 1) of a concept that is growing in global business. The paper will conclude, most importantly, with discussions on three outsourcing alternatives and their potential to re-invent the status quo. Introduction The advent of globalization has proven that outsourcing is not a hypothetical situation; it is a major strategic business decision growing in popularity that our American workforce must now face in the decline of our U.S. economy. Some believe that outsourcing has become a serious issue not only for our workforce, but also in our major corporations, and the political arena. Issues such as the security of our nation have become debate topics, with critics arguing that outsourcing has weakened national security...
Words: 4072 - Pages: 17
...JOURNAL OF MANAGERIAL ISSUES Vol. XXII Number 4 Winter 2010: 456-475 Incumbents Adaptation to Competence-Destroying Change: Role of Prior Experience and Knowledge Sourcing Mujtaba Ahsan Assistant Professor of Management Pittsburg State University Assistant Professor of Management State University of New York at Oneonta Mine Ozer Assistant Professor of Management California State University, East Bay For the past several decades, the topic of new technological developments has been of interest to strategy scholars (Ansoff and Stewart, 1967; Cooper and Schendel, 1976; Rosenbloom and Cusamano, 1987; Rothaermel, 2001a, 2001b; Tushman and Anderson, 1986). Scholars have repeatedly focused on this topic as innovation and new product development are critical for a firm’s survival and growth (Penrose, 1995) and have stated that one of the core competencies needed to develop new technologies is the ability to assimilate and recombine knowledge in unique combinations (Rosenkopf and Nerkar, 2001). Simply put, successful innovation and new product development require the ability to create and use new knowledge to offer novel products or services to customers. Research indicates that firms who possess prior experience are in a better position to innovate (Carroll et al., 1996; Henderson and Cockburn, 1994; Klepper and Simons 2000; Nerkar and Roberts, 2004). Prior studies have also highlighted the importance of knowledge and experience in enabling firms to successfully adapt...
Words: 9421 - Pages: 38
...ABSTRACT While outsourcing internal audit function in the private sector has been extensively Investigated by various researchers (Carey and Chua, 1999; Petravick, 1997; and Sharma and Subramaniam, 200l; amongst others), there is scant empirical data from the public sector. This study attempts to fill the gap by providing some preliminary evidence in food and beverages industry. Using responses from 3 firms which includes Dangote flour mills, UAC and Northern Nigeria flour mills plc, the study found that more than 85% of the respondents had either fully outsourced or co-sourced their internal audit function. Further, non-department entities were found to more likely to fully outsource their internal audit function than the departments. Lack of technological know-how and service quality of external providers seem to outrank cost-related factors as reasons for outsourcing. The study also raises several issues in relation to a lack of segregation of duties in the process of selecting and monitoring outsourced arrangements. Implications for policy setting and avenues for future research avenues are discussed. INTODUCTION In today’s business environment, outsourcing processes to a third party has become relatively commonplace. The practice gives organizations an opportunity to gain efficiencies, improve performance, lower costs, and focus on core competencies. Many businesses, however, fail to complete necessary due diligence work before the outsourcing relationship begins and neglect...
Words: 8669 - Pages: 35
...Professor Dr. Mohammed Arif September 30, 2013 TABLE OF CONTENTS Abstract 3 History of Supply Chain Management 4 Why is Supply Chain Management Important to Business 5 Innovation 7 How to Maintain a Competitive Advantage 8 Skill Set Requirements 11 Future of Supply Chain Management 13 Conclusion 16 References 17 TABLE OF FIGURES Figure 1.1 Creating Additional Value by Thinking Differently About Categories 14 Abstract This research paper addresses the effects that supply chain management has on businesses. Supply chain management is the active management of supply chain activities to maximize customer value and achieve a sustainable competitive advantage. Supply chain activities include everything from product development, sourcing, production, information systems, as well as logistics. An effective supply chain management works with cross-functional teams (e.g. requirements form marketing or engineering) to achieve organizational goals through effective planning and management. This paper will take a look at the history of supply chain management, discuss why it is important to business, explore the latest innovations, discuss how to maintain a competitive advantage in a changing environment, address the required supply chain management skill set requirements, and analyze where supply chain management is heading in the future. HOW SUPPLY CHAIN MANAGEMENT HAS CHANGED THEY WAY WE DO BUSINESS History of Supply Chain Management Supply chain management...
Words: 3762 - Pages: 16
...Tanglewood Case One Rebecca Cassady With reference to Exhibit 1.7 in the textbook, I think that of the staffing quantity and staffing quality strategies listed; that developing talent, internal hiring, and exceptional workforce quality are the fundamental strategies to implement. By utilizing these differentiation strategies, Tanglewood would continue its strong culture. Tanglewood must differentiate themselves from their competition; companies like Target and Kohl’s. Tangelwood can accomplish this by having the best staff that delivers a positive experience their customers, thus, making their store standout from their competitors. These strategies will help maintain a positive work atmosphere and build a strong relationship among employees, which will lead to successful job performances. Hiring or retain overstaff or understaffed, and external or internal hiring: As we look at these three decisions for the staffing levels, hire or retain, over staffed or understaffed, and external or internal hiring method we will see that Tanglewood Company is over-staffed. The mangers are cooperative with the employees’ suggestions regarding the company's operations, which need to be decreased. By decreasing employees and increasing the responsibility; staffing and training of departments will make the working environment stronger, and job performance to be improved saving both time and money for the company. Tanglewood should focus on retaining their employees and improving...
Words: 1203 - Pages: 5
