...Musgrave Retail Partners Ireland 2010 Human Resource Management A competitive advantage Jennifer O’ Hagan Table of Contents How can good HRM practice become a source of competitive advantage for organisations in the retail sector? 3 Introduction: 3 Definitions: 3 Main functions of a HRM system: 4 Key functions of a HRM system: 6 Learning and development and performance management: 6 Induction: 6 Staff appraisals/review systems: 7 Hertzberg Two factor theory 8 Motivational factors 8 Hygeine factors 8 HRM eveloution 9 Why is HRM such an important tool in organisations today? 10 References 11 How can good HRM practice become a source of competitive advantage for organisations in the retail sector? Introduction: The purpose of this study is to discuss how good HRM (human resource management) practice can become a source of competitive advantage for organisations in the retail sector. To help me examine this, I will explain what defines HRM and the main functions of a HRM system. I will also examine why it is such an important tool for many organisations today. Definitions: Human Resourse Management has been defined as ‘a strategic approach to managing employment relations between employee and employers, which emphasises that leveraging peoples capabilities is critical to achieving competitive advantage, acheived through a distinctive set of integrated employment practices.’ ‘Strategy denotes an activity that organisations perform...
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...Contents Page No. Introduction 1 TASK 1 1-6 1.1 Human Resource Management (HRM) 1-3 1.2 Accounting 3 1.3 Marketing 4-6 1.4 Operations Management 5 TASK 2 Analyzing the Key Issues 7-9 2.1 Human Resource Management (HRM) 7 2.2 Marketing 8-9 Conclusion and recommendations 10 References 11 Introduction Understanding business is very important when a company is going to operate for the first time. Without understanding business and its core component like HRM, Marketing, accounting, and operational management it is difficult to initiate business efficiently. That is why these issues can play a big role in an organization and it is very necessary to understanding business. Eastern food is going to launch its business. So this organization should consider accounting, marketing, operational management and HRM factors so that Eastern food can overcome its challenge when it is starting its business. Task 01 1. human resource management: In the time of consideration of success in any business, human resource management (HRM) is the key player to go forward towards the goal. Only the effective and efficient employee can make every single complex task easier that is the main point to overall success in a certain period. Human resource management itself being thought responsible to operate some major function namely retreatment process, training, and other motivational work events. In the arrival of HRM it maintains the inflow and outflow of the human resource effectively. Eastern...
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...HRM 530 Full Class All DQs Assignments and Final Exam Click Link Below To Buy: http://hwcampus.com/shop/hrm-530-full-class-dqs-assignments-final-exam/ HRM 530 Week 1 DQs Technology and Strategic HRM (graded) This course focuses on the strategic value that technology brings to HRM and the business. Thanks to technology, HRM is now a strategic partner in companies. How specifically has technology created this strategic partnership? Share an example. What value has resulted from this strategic partnership? HRM Technology Trends (graded) From the lecture, you can see how far HRM has evolved. Conduct some research using your text, supplemental readings, and other academic sources. What are some of the current trends in HRM technology? Where do you see HRM technology headed? Provide specifics. HRM 530 Week 2 DQs HRM Strategic Partnership (graded) As shared in this week's lecture, HRM has moved from support to strategic partner. The examples shared included tracking employee work time, tracking leaves, and time tracking for payroll purposes. How has, and how can, HRISs impact this strategic partnership? Review an example from your employer or through research on how a business has used HRM technology to create a strategic focus. HRIS E-Engineering (graded) Business Process Re-Engineering (BPR) is a valuable tool to help organizations assess the probability of process change. Why might this be an important concept for HRM professionals introducing...
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...strategic, operational and financial objectives. The crux of the matter lies in the excessive focus on financial due diligence, risk assessments. Quite often, the people factor, i.e. issues that relate directly to people as workforce management and cultural integration, are left out of the due diligence process creating major challenges later during integration. In the past, HRM was expected to provide support in postintegration efforts, as well as increased business focus and knowledge to ensure that the full value of M&A deals is realized. For organizations, it important to believe in the fact that People are its key assets. However, today we realize that, mastering the softer issues is the hardest part of integration and has the strongest influence on an M&A’s long-term success. HRM professionals are expected to be ready to manage the people, opportunities and the risks associated in these transactions. Managing organizational change and business / culture integration requires more attention by Leadership and HRM to M&A deals. ______________________________________________________________________________ HRM in M&A By Ajit Kumar on May 18, 2013 2 Background Mergers and Acquisitions (M&A) is an aspect of corporate strategy and management dealing with the buying, selling, and combining of different companies and...
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... 1. Define the term human resource management. 2. Describe the strategic importance of human resource management (HRM) activities. 3. Explain what career opportunities are available in the HRM field. 4. Discuss the role that specialists and operating managers play in performing HRM activities. 5. List the main objectives pursued by HRM units. Key Terms |HRM objectives |The ends an HRM department attempts to accomplish. Some of the specific HRM objectives are | | |(1) to provide the organization with well-trained and motivated employees; (2) to communicate| | |HRM policies to all employees; and (3) to employ the skills and abilities of the workforce | | |efficiently. | |HRM policy |A general guide to decision making in important decision areas. | |HRM procedure |A specific direction to action. It tells a person how to do a particular activity. | |HRM strategy |The plan that integrates HRM objectives, policies, and procedures. | |human resource management (HRM) |A function performed in organizations that facilitates the most effective use of people | | ...
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...Introduction: Human resource management works with human to formulate and implement the business strategy. HRM and strategy were not related too much before but nowadays the coordination between them is reasonably common in the competitive world. Every manager needs to know how human resources are associated with strategic management to increase the effectiveness of the organization. This assignment has been prepared to give a clear view about the importance of HRM, formulation and implementation of HR strategies. Therefore, the contemporary issues related to strategic human resource management have been analyzed appropriately to show their impact on strategic HRM. All the topics have been assessed by relating with modern business world to show practical overview of human resource management and strategic human resource management. 1. Understanding the role and importance of HRM: 1.1. Definition of strategic human resource management In general, human resource management refers to a process by which the organization functions are accomplished and objectives are achieved through managing and utilizing experienced and skilled workforce. Human resource management starts with recruiting and selecting employees and then makes sure the utilization of the workforce. Strategic human resource management is defined as macro-organizational approach that designs strategic policies and frameworks to decide how the long-term goals and objectives will be achieved through using trained...
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..."Human resource management (HRM) is concerned with the personnel policies and managerial practices and systems that influence the workforce. In broader terms, all decisions that affect the workforce of the organization concern the HRM function." (Bernadin, H.J.2007). Furthermore Armstrong (2006, p.4) defined it as a strategic and coherent approach of an organisation's most valued assets. - the people working there, who individually and collectively contribute to the achievements of the objectives of the business. The term Human resource management is therefore also widely known as "Personnel Management" as a description of the process of managing people in organisations. In a constantly changing world, which requires flexible responses, with strong competition from nearly every continent, due to increased globalisation, it is important for organisations to have some kind of competitive edge. Especially in the service industry, but more generally spoken throughout every industry, the human leverage is the most contributing factor to being competitive and making a difference to customer satisfaction and general organisational performance. Other elements effecting HRM and increasing its importance are technological changes, increasing litigations due to changes in legislations worldwide (e.g. EU) and the changing characteristics of the workforce (e.g. diversity). That is why HRM is important for an organisation to improve the competitive advantage. Professor Pfeffer (cited by Bernadin...
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...component of fulfilling the goals of HRM. Employee benefits are the single most important motivator to maintaining an experienced workforce. Longevity of employees in a company contributes to their financial stability. Depending on the company it can make or break obtaining talented employees. While applicants are being interviewed for a job, so is the company. Reports of high turnovers do contribute to missed opportunities in gaining talented employees. The cost of turnover is very high. Salaries that are given to employees are not in the control of HRM, benefit packages are an achievable goal. In any scenario, it is working with what you can control and not focus on what you cannot control leads to success. A creative benefit package can raise morale and give employees the experience of making more. When I talk about my salary, I will say that I am making $5,000 more than what goes into my paycheck. Having an HRM that is creative is why firms have them. The mission of HRM in all firms is not an easy one and they have to constantly stay in touch with the budget. Smart businesses would budget themselves to give HRM as much flexibility to spend as possible. Good strategic planning can ultimately save the company a lot of money. HRM’s ultimate goal would be to accomplish this. The more extrinsic satisfaction the longer employees will feel committed to the work place and not take off for that extra $1,000. Benefits are a creative way that HRM can decrease this cost. Employees...
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...operational and financial objectives. The crux of the matter lies in the excessive focus on financial due diligence, risk assessments. Quite often, the people factor, i.e. issues that relate directly to people as workforce management and cultural integration, are left out of the due diligence process creating major challenges later during integration. In the past, HRM was expected to provide support in postintegration efforts, as well as increased business focus and knowledge to ensure that the full value of M&A deals is realized. For organizations, it important to believe in the fact that People are its key assets. However, today we realize that, mastering the softer issues is the hardest part of integration and has the strongest influence on an M&A’s long-term success. HRM professionals are expected to be ready to manage the people, opportunities and the risks associated in these transactions. Managing organizational change and business / culture integration requires more attention by Leadership and HRM to M&A deals. ______________________________________________________________________________ HRM in M&A By Ajit Kumar on May 18, 2013 2 Background Mergers and Acquisitions (M&A) is an aspect of corporate strategy and management dealing with the buying, selling, and combining of...
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...Reflection Paper #1 – Why Employment Law? Tieera Hill Metropolitan State University Reflection Paper #1 - Why Employment Law? Human resource management (HRM) can be defined as, “the process of hiring and developing employees so that they become more valuable to the organization” (Human Resource Management, 2015). When thinking about HRM within an organization, it is very important to have a great understanding of employment law since it may be applied to many workplace situations. The human resources department of a place of business needs to have an infinite amount of knowledge about employment law so that interactions with employees can directly model what may be acquired by the law concerning legal rights or expectations. When taking a HRM course at a university that involves employment law, its good to have an understanding of why you're taking the course in terms of your level of expertise, if you're looking to expand your knowledge on the subject, and what you hope to gain from taking it. Overall, having an understanding about why I'm taking this kind of course is a great way to get me to think about my personal learning expectations. Employment Law Course Experience Level Employment law is, “The body of law that governs the employer-employee relationship, including individual employment contracts, the application of tort and contract doctrines, and a large group of statutory regulation on issues such as the right to organize and negotiate...
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...turn contributes to organizational effectiveness. Human Resource Management (HRM) is the process of hiring and developing employees so that they become more valuable to the company. HRM has always played a part in contributing to the success of the company either directly or indirectly. It is important for companies to be more strategic in the way it operates in order to meet the business needs of the company. At the same time, it cannot lose sight of the critical value and importance of people in the process. Like other areas of management, HRM is involved in setting policies, formulating plans and trying to make decisions for the benefit of both the company and the employees. Above all this, the driving force that drives the success of the company is its people. They provide the company with the competitive edge and are the most valuable asset to the company. It is therefore important for HRM to assist the company to effectively and efficiently manage its human resources and having activities that would complement and promote business growth. HR practices such as skill enhancement, job design, selection measures, compensation-linked appraisals, merit promotions, and training have all been found to enhance firm performance. According to Fortune, Wegmans Food Market, Inc. is number five on the top 100 Best Companies to Work For. Every Wegmans has one HR in every store throughout the country. Wegmans HRM practices such as skill enhancement, job design, selection measures, compensation-linked...
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...Managers are like the eyes and ears for the chairman and vice president of the organization. Even though some organization do not have a Human Resource Management department there are people put in place to be in that department. Human Resource Management Paper Human resource management is designed to increase the performance and the improvement of an employee’s objectives and ambitions within the organizations. In order to be a successful HRM there are some aspect that help a HRM be successful. These aspects are human resource planning, recruitment, and selection, EEO and Affirmative Action, Human resources development, Compensation and benefits, Safety and Health, and Employee and labor relations are the main issues for all Human Resource Management. This essay will identify why these aspect are the primary function for all Human Resource Manager and which aspect is more important than the others. The first primary function of a Human Resource Manager is the planning, recruitment, and selection process. This is important for a HRM because if they do not select the right employee for the job then that part of the organization will not succeed as a whole. The planning process is seeing what position of the organization that needs for the future...
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...HRM 558 Entire Course FOR MORE CLASSES VISIT www.hrm558help.com HRM 558 Week 1 DQ 1 HRM 558 Week 1 DQ 2 HRM 558 Week 1 Individual Assignment Research Applications Paper HRM 558 Week 2 DQ 1 HRM 558 Week 2 DQ 2 HRM 558 Week 2 Individual Assignment Evaluation Criteria Paper HRM 558 Week 2 Learning Team Discussion Question HRM 558 Week 3 DQ 1 HRM 558 Week 3 DQ 2 HRM 558 Week 3 Learning Team Discussion Question HRM 558 Week 3 Individual Assignment Motivating and Compensating Employees Simulation HRM 558 Week 4 DQ 1 HRM 558 Week 4 DQ 2 HRM 558 Week 4 Learning Team Assignment Market Analysis HRM 558 Week 5 DQ 1 HRM 558 Week 5 DQ 2 HRM 558 Week 5 Individual Assignment HR Statistical Techniques Paper HRM 558 Week 5 Learning Team Discussion Question HRM 558 Week 6 Learning Team Assignment HR Team Evaluation HRM 558 Week 6 Final Exam ================================================ HRM 558 Week 1 DQ 1 FOR MORE CLASSES VISIT www.hrm558help.com What are the consequences in HR if an assessment is used that is not validated? How does this affect the business as a whole? ================================================ HRM 558 Week 1 DQ 2 FOR MORE CLASSES VISIT www.hrm558help.com How might research be used to address current issues in HR? Provide an example to support your answer. ================================================ HRM 558 Week 1 Individual Assignment Research Applications Paper FOR MORE CLASSES VISIT www...
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...HRM 558 Entire Course For more classes visit www.snaptutorial.com HRM 558 Week 1 DQ 1 HRM 558 Week 1 DQ 2 HRM 558 Week 1 Individual Assignment Research Applications Paper HRM 558 Week 2 DQ 1 HRM 558 Week 2 DQ 2 HRM 558 Week 2 Individual Assignment Evaluation Criteria Paper HRM 558 Week 2 Learning Team Discussion Question HRM 558 Week 3 DQ 1 HRM 558 Week 3 DQ 2 HRM 558 Week 3 Learning Team Discussion Question HRM 558 Week 3 Individual Assignment Motivating and Compensating Employees Simulation HRM 558 Week 4 DQ 1 HRM 558 Week 4 DQ 2 HRM 558 Week 4 Learning Team Assignment Market Analysis HRM 558 Week 5 DQ 1 HRM 558 Week 5 DQ 2 HRM 558 Week 5 Individual Assignment HR Statistical Techniques Paper HRM 558 Week 5 Learning Team Discussion Question HRM 558 Week 6 Learning Team Assignment HR Team Evaluation HRM 558 Week 6 Final Exam ---------------------------------------------------------- HRM 558 Week 1 DQ 1 For more classes visit www.snaptutorial.com What are the consequences in HR if an assessment is used that is not validated? How does this affect the business as a whole? ---------------------------------------------------------- HRM 558 Week 1 DQ 2 For more classes visit www.snaptutorial.com How might research be used to address current issues in HR? Provide an example to support your answer. ---------------------------------------------------------- HRM 558 Week 1 Individual...
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...PG# 22 2) Why is it correct to conclude that all managers should be involved in developing and implementing HRM activities and programs? All manages should be involved in developing activities and programs because if not there is a large chance that the department yet alone the company itself will come across many adversities that can harm the business. ALL HRM should take the initiative to be leaders in the company to show that they are able to handle several situations and overcome any problems the company may face. 3) How has increased globalization influenced the way HRM is practiced in the United States? HR practitioners now have the ability to review the best-in-class HRM practices of other countries to see if they can be applied successfully to U.S. organizations. Second, all HR issues, from compensation to ethics, must be considered from an international viewpoint, in light of the multicultural nature of today’s workforce. 7) The text proposes that Peter Drucker is incorrect when he states that work in HRM is nothing more than the work of a file clerk. What has happened in the world of work to make his statement false? This statement false because it’s basically stating that the HRM function today is more worried about filing and recordkeeping. Organizations have recognized the value of people, which has resulted in HRM strategies being integrated within the organization. This means that HRM plays a major role in identifying the firm’s human resource problems...
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