Examining the Market and Operations Strategy of Tesco

Examining the Market and Operations Strategy of Tesco Introduction Human resource management  or shortly said H.R.M. is a designed  and  articulate  way to  management  of people working in the company or organization. The other term used for this is personnel management which is used instead of human resource management. It cn be defines as:- A continues processes managing people in any organizations in a way to achieve its objectives and goals. Human Resource Management is basically a study as well as a department in any organization that stands on ideas and techniques set to improve employee motivation, efficiency and performance. The HRM models makes necessary emphasizes: search for new ways and methods of working key role of managers in making progressive change treating all the workers as individuals encouragement of staff to think management as their partners instead of bosses Human capital is the important quality and capability of businesses especially in service based business. Human resources are some time major proportion of costs for many businesses. Management of such important and valuable resources is necessary for the success of business. Human resource management  means recruiting employees, arranging their training to improve their skills, utilizing these skills, maintaining their performances and paying off their services as required. Employees are a value asset for an organization. The purpose of all this arrangement is to contribute in achievement of company or organization targets. Human Resource Management practitioners have modern view about workplace management comparing to the traditional thinking. As such, HRM techniques, when properly practiced, are expressive of the goals and operating practices of the enterprise overall. HRM is also seen by many to have a key role in risk reduction within organizations. HRM and Employees Performance HRM and organisational performance, evident in improved employee commitment, lower levels of absenteeism and turnover, higher levels of skills and therefore higher productivity, enhanced quality and efficiency  . This area of work is sometimes referred to as Strategic HRM or SHRM (. Within SHRM three strands of work can be observed: Best practice, Best Fit and the Resource Based View (RBV). The notion of best practice sometimes called high commitment HRM proposes that the adoption of certain best practices in HRM will result in better organisational performance. Perhaps the most popular work in this area is that of Pfeffer  Ã‚  who argued that there were seven best practices for achieving competitive advantage through people and building profits by putting people first. These practices included: providing employment security, selective hiring, extensive training, sharing information, self-managed teams, high pay based on company performance and the reduction of status differentials. However, there is a huge number of studies which provide evidence of best practices, usually implemented in coherent bundles, and therefore it is difficult to draw generalised conclusions about which is the best way (For a comparison of different sets of best practices see Becker and Gerhart, 1996   Best fit, or the contingency approach to HRM, argues that HRM improves performance where there is a close vertical fit between the HRM practices and the companys strategy. This link ensures close coherence between the HR people processes and policies and the external market or business strategy. There are a range of theories about the nature of this vertical integration. For example, a set of lifecycle models argue that HR policies and practices can be mapped onto the stage of an organisations development or lifecycle. Competitive advantage models take Porters (1985) ideas about strategic choice and map a range of HR practices onto the organisations choice of competitive strategy. Finally configurational modelsprovide a more sophisticated approach which advocates a close examination of the organisations strategy in order to determine the appropriate HR policies and practices. However, this approach assumes that the strategy of the organisation can be identified many organisations ex ist in a state of flux and development. The Resource Based View (RBV), argued by some to be at the foundation of modern HRM, focusses on the internal resources of the organisation and how they contribute to competitive advantage. The uniqueness of these resources is preferred to homogeneity and HRM has a central role in developing human resources that are valuable, rare, difficult to copy or substitute and that are effectively organised. Overall, the theory of HRM argues that the goal of human resource management is to help an organization to meet strategic goals by attracting, and maintaining employees and also to manage them effectively. The key word here perhaps is fit, i.e. a HRM approach seeks to ensure a fit between the management of an organisations employees, and the overall strategic direction of the company (Miller, 1989). The basic premise of the academic theory of HRM is that humans are not machines, therefore we need to have an interdisciplinary examination of people in the workplace. Fields such as  psychology,  industrial relations, industrial engineering,  sociology,  economics, and critical theories:  postmodernism,  post-structuralism  play a major role. Many colleges and universities offer bachelor and master degrees in Human Resources Management or in Human Resources and Industrial Relations. One widely used scheme to describe the role of HRM, developed by  Dave Ulrich, defines 4 fields for the HRM function: Strategic business partner Change Agent Employee champion Administration Expert Human Resource Department Responsibilities Companies can have different departments, ranging from sales to human resources.   Depending on the size of a company, the human resource department may have an entire staff. Employment opportunities found in the department include human resource coordinator, assistant and director. Human resource department responsibilities can involve understanding federal, state and local  laws. Training and Development The human resources department assists companies with training and development. Companies train employees for different reasons, ranging from employee motivation to new technology. The length of training can differ from hours to weeks. Types of training can range from workshops to classroom participation. Some topics discussed in training sessions include employee safety and customer service. Benefits Companies must use different incentives to attract and maintain employees. After compensation, benefits are a common incentive to keep employees. The  Society  for Human Resource Management states benefits can involve federal and state requirements, such as unemployment insurance. Some companies offer a range of benefits. Types of benefits include dental insurance, vision insurance and paid days off. Compensation The Human Resources Department verifies that employees receive proper compensation. One form of compensation involves the amount of pay an employee receives in exchange for work performed, known as base pay. Commissions offer another form of compensation. Some companies offer only a combination of base pay and commissions, such as for a sales  job. Staffing A company requires staff to provide products and services to its customers. One human resources staffing-related activity involves advertising. Advertising allows companies to match applicants with potential jobs. Forms of advertising can take place on employment boards, specialty newspapers or business websites. Other human resource activities involve contacting applicants for interviews and confirming each applicants background. Employee Exit Interview HR Tools indicates employee exit interviews can help organizations maintain retention rates. Another benefit from exit interviews is a company can obtain  positive  feedback about its compensation, benefits or training programs. The human resources department has the responsibility of scheduling and conducting exit interviews. The employee should feel comfortable discussing employment issues, so a private office is advisable for the interviews. Business Practice Human resources management involves several processes. Together they are supposed to achieve the above mentioned goal. These processes can be performed in an HR department, but some tasks can also be outsourced or performed by line-managers or other departments. When effectively integrated they provide significant economic benefit to the company. Workforce planning Recruitment  (sometimes separated into attraction and selection) Induction,  Orientation  and  Onboarding Skills management Training and development Personnel administration Compensation in  wage  or  salary Time management Travel management (sometimes assigned to accounting rather than HRM) Payroll  (sometimes assigned to accounting rather than HRM) Employee benefits  administration Personnel cost planning Performance appraisal Labor relations HRM strategy An HRM strategy pertains to the means as to how to implement the specific functions of HRM. An organizations HR function may possess recruitment and selection policies, disciplinary procedures, reward/recognition policies, an HR plan, or learning and development policies, however all of these functional areas of HRM need to be aligned and correlated, in order to correspond with the overall business strategy. An HRM strategy thus is an overall plan, concerning the implementation of specific HRM functional areas. An HRM strategy typically consists of the following factors:- Best fit and best practice meaning that there is correlation between the HRM strategy and the overall corporate strategy. As HRM as a field seeks to manage  human resources  in order to achieve properly organizational goals, an organizations HRM strategy seeks to accomplish such management by applying a firms personnel needs with the goals/objectives of the organisation. As an example, a firm selling cars could have a corporate strategy of increasing car sales by 10% over a five year period. Accordingly, the HRM strategy would seek to facilitate how exactly to manage personnel in order to achieve the 10% figure. Specific HRM functions, such as recruitment and selection, reward/recognition, an HR plan, or learning and development policies, would be tailored to achieve the corporate objectives. Close co-operation (at least in theory) between HR and the top/senior management, in the development of the corporate strategy. Theoretically, a senior HR representative should be present when an organizations corporate objectives are devised. This is so, since it is a firms personnel who actually construct a good, or provide a service. The personnels proper management is vital in the firm being successful, or even existing as a going concern. Thus, HR can be seen as one of the critical departments within the functional area of an organization. Continual monitoring of the strategy, via employee feedback, surveys, etc. The implementation of an HR strategy is not always required, and may depend on a number of factors, namely the size of the firm, the organizational culture within the firm or the industry that the firm operates in and also the people in the firm. An HRM strategy can be divided, in general, into two facets the people strategy and the HR functional strategy. The people strategy pertains to the point listed in the first paragraph, namely the careful correlation of HRM policies/actions to attain the goals laid down in the corporate strategy. The HR functional strategy relates to the policies employed within the HR functional area itself, regarding the management of persons internal to it, to ensure its own departmental goals are met. Career and Education Several universities offer programs of study pertaining to HRM and broader fields.  Cornell University  created the worlds first school for college-level study in HRM (ILR School).  University of Illinois at Urbana-Champaign  also now has a school dedicated to the study of HRM, while several  business schools  also house a center or department dedicated. There are both generalist and specialist HRM jobs. There are careers involved with employment, recruitment and placement and these are usually conducted by interviewers, EEO (Equal Employment Opportunity) specialists or college recruiters. Training and development specialism is often conducted by trainers and orientation specialists. Compensation and benefits tasks are handled by compensation analysts, salary administrators, and benefits administrators. Professional organizations Professional organizations in HRM include the  Society for Human Resource Management, the Australian Human Resources Institute (AHRI), the  Chartered Institute of Personnel and Development (CIPD), the International Public Management Association for HR (IPMA-HR), Management Association of Nepal (MAN) and the International Personnel Management Association of Canada (IPMA-Canada), Human Capital Institute. National Human Resource Development Network in India. Functions The Human Resources Management (HRM) function includes a variety of activities, and key among them is deciding what staffing needs to have and whether to use independent contractors or hire employees to fill these needs, recruiting and training the best employees, ensuring they are high performers, dealing with performance issues, and ensuring your personnel and management practices conform to various regulations. Activities also include managing your approach to employee benefits and compensation, employee records and personnel policies. Usually small businesses (for-profit or nonprofit) have to carry out these activities themselves because they cant yet afford part- or full-time help. However, they should always ensure that employees have-and are aware of-personnel policies which conform to current regulations. These policies are often in the form of employee manuals, which all employees have. Note that some people distinguish a difference between HRM (a major management activity) and HRD (Human Resource Development, a profession). Those people might include HRM in HRD, explaining that HRD includes the broader range of activities to develop personnel inside of organizations, including, e.g., career development, training, organization development, etc. There is a long-standing argument about where HR-related functions should be organized into large organizations, e.g., should HR be in the Organization Development department or the other way around? The HRM function and HRD profession have undergone major changes over the past 20-30 years. Many years ago, large organizations looked to the Personnel Department, mostly to manage the paperwork around hiring and paying people. More recently, organizations consider the HR Department as playing an important role in staffing, training and helping to manage people so that people and the organization are performing at maximum capability in a highly fulfilling manner. The Responsibilities of a Manager in Human Resources Planning The human resources department has many roles and functions. Historically, the department was responsible for recruitment and training within an organization. Human resources has evolved to include a wide variety of competencies that are necessary for an organizations growth and success. Managers are in constant communication with the human resources department. Effective human resources planning requires managers and company executives to identify the needs of the company and develop a strategic plan to meet those needs. Recruitment The acquisition of experienced and qualified employees is vital to the success of an organization. Managers are responsible for interviewing potential candidates and making recommendations to hire a particular individual. Managers also attend recruiting events and evaluate applicants to determine whether the candidates personality will fit within the corporate environment. Retention Employee retention is an integral part of a managers responsibilities. Managers are obligated to ensure that employee work environments are conducive to individual success. Managers are responsible for motivating employees and developing programs that encourage good employees to remain with the company. Managers communicate the feedback they receive from employees to human resources so they may expand retention initiatives. These initiatives are designed to keep existing employees happy and satisfied with their  jobs. Training Training within an organization is a work in progress. As new products are introduced or industry trends shift in a new direction, additional training and employee development will be necessary. Human resources departments watch markets closely to ensure their organizations remain up to speed on changes within their enterprise. Managers also must supervise employees to ensure that a lack of understanding of company products and services does not interfere with  job  duties. Further, managers are responsible for making recommendations that additional training be conducted if several employees fall behind on a particular objective. Employee Relations Employee relations involve many different aspects of human resources planning. Employee relations are events or situations that affect an employees well-being, such as managerial disputes or employee discrimination. Employee relations also involve employee salaries, benefits,  health  care and retirement. If an employee has a work-related issue, it is usually brought to the attention of his manager first. Managers are responsible for keeping employee relations matters confidential and referring complex issues to the appropriate department to remedy the situation. Job Duties for a Human Resource Specialist Human resource specialists provide a specific type of work in the human resources department of a  business. Even though a person may specialize in any of several areas, the responsibilities of different specialists may overlap. Employee Recruitment and Placement Specialists in employee recruitment and placement manage the applicant screening process and hiring activities for open positions. They may seek out promising applicants through  job boards or  career  fairs and help match them to appropriate jobs. Compensation and Benefits Specialists in this area design and administer employee benefit programs such as health insurance, retirement plans and flexible spending accounts. They must be knowledgeable about the various benefit programs offered by their company as well as laws that may affect these benefits. Job Analysis Job analysts determine job titles, develop job descriptions and designate position classifications. In some companies, job analysis is done by compensation and benefit specialists. Training and Professional Development These specialists provide employee training such as new employee orientation and continuing education. They often develop and present materials for professional development workshops. Labor Relations Labor relations specialists assist with the resolution of employee disputes and grievances, as well as contract negotiation and workplace safety. They negotiate with labor unions and act as liaisons between employees and management. Effective Interviewing Giving an interview is as nerve racking as having one! As an interviewer you want to get as much information from the interviewee as possible, so to do this youre going to have to be nice to them! By making the environment calm and relaxing, both you and the interviewee will get the best from the interview. Before the interview, decide what information you require. It may help you to write yourself a list of questions or keywords, which will help the interview go smoothly. It is important that you listen to the candidate carefully, as well as getting all of the information you want, it will also help you to expand on the interviewees answers. Try to avoid asking questions together as this may confuse the candidate, as well as giving them the option to avoid certain questions. Glossary Of Terms Added Value  often refers to the analysis undertaken by management of the cost and contribution made by employees involved at each stage in the process of producing a product or providing a service. Appraisal Schemes   an individuals performance is reviewed by their manager. Their past performance is examined and future goals are set. Benchmarking  measures standards of performance against others doing similar work. Business Process Re-engineering (BPR)  refers to the methods by which a company or service undertakes a thorough review of all its operations. Business Units  often have their own Trading Accounts and operate with relative autonomy from the rest of the company or service. Continuous Improvement (Kaizen)  requires employees to constantly seek ways of improving the quality of the product or service. Delayering  is the removal of middle layers of management resulting in a flatter management organisation. Dismissal  is when you are removed from employment Empowerment/Enablement  are strategies aimed to give people more control and responsibility for their work Flexibility  describes changes in the size of the workforce, depending on short-term changes in market conditions Management-by-Objectivesmeans each management team identifying its key tasks and goals and using these as a yardstick against which performance is measured. Multi-Skilling  is the increase of the skills base of the workforce, usually bringing in new technology Multi-tasking  requires for staff to take on a wider range of tasks, usually involving on-the-job training Outsourcing  occurs when management invites external contractors to undertake work that was previously done by in-house staff. Performance Indicators  measure the improvements in throughputs, outputs and outcomes. Performance Related Pay (PRP)links an individuals performance with their pay. Different schemes have been set up to measure Team Building  brings together employers and employees, with the goal of increasing performance by strengthening relationships within the workplace Total Quality Management (TQM)usually involves the introduction of continuous monitoring. It refers to initiatives designed to improve the quality of products and services to meet customers requirements. http://www.bized.co.uk/educators/16-19/business/hrm/lesson/hrm1map.gif Title Human resource management: a problem-solving approach linked to ISLLC standards G Reference, Information and Interdisciplinary Subjects Series Authors Jerry R. Baker,  Madeleine S. Doran Edition 2, revised, illustrated Publisher RL Education, 2007 Length 217 pages Title HUMAN RESOURCE MANAGEMENT Authors ROBERT L. MATHIS,  JOHN H. JACKSON Publisher Cengage Learning, 2007 Subjects Business Economics / Human Resources Personnel Management Title Human resource management: a strategic approach to employment B H contemporary business series Author Chris Hendry Edition illustrated, reprint Publisher Butterworth-Heinemann, 1995 ISBN 075060994X, 9780750609944 Length 485 pages Title A handbook of human resource management practice Author Michael Armstrong Edition 9, illustrated Publisher Kogan Page Publishers, 2003 ISBN 0749441054, 9780749441050 Length 979 pages Title Human Resource Management Authors Derek Torrington,  Stephen Taylor,  Laura Hall,  Carol Atkinson Edition 8 Publisher Pearson Education, Limited, 2010 ISBN 0273732323, 9780273732327 Length 848 pages Subjects Business Economics / Commerce Title Human Resource Management: Theory and Practice Authors John Bratton,  Jeffrey Gold Edition 2, illustrated Publisher Routledge, 2001 ISBN 0805838627, 9780805838626 Length 432 pages

Vanguard Case Analysis Essay -- Business and Management Studies

Vanguard Case Analysis After reading through the Vanguard case, there were a few difficult forks in the road that Vanguard seems to be facing. The company’s future can be greatly affected by some of these difficult choices. Vanguard has to decide whether to change their investment offerings, further develop Internationally, or to simply advertise to increase their client base. Top managers at Vanguard have to step up to the plate and rollout detailed plans as to what path the company should take regarding some of these issues. Through our in-class discussions, the majority of the students argued on one major problem that Vanguard was facing. The problem entailed Vanguards ability to increase future customers without increasing costs. Markets are ever-changing, and the ability of companies to adapt to these changes is the key to survival. One company mentioned specifically in the case was Citigroup. Their ability to adapt to market changes and become a giant in the investments segment as a â€Å"one-stop financial supermarket† is a prime example. Should Vanguard take on this type of adaptation or stick to their current business objectives? One interesting quote Brennan in the case stated â€Å"In the future, nothing about Vanguard’s values will change,† but â€Å"everything about the way we do business must change.† With this in mind, the question is what must change for Vanguard to succeed and continue to earn revenue and gain customers without increasing costs? ...

Freud’s Psychosexual Stages Essay

The theory of psychosexual development describes how personality develops throughout our childhood and our experiences during childhood. This theory was developed by Freud, and is well known to the world of psychology. Even though it is well known it is also considered one of the most controversial theories. Freud developed this theory in which there are five different stages. Stage one is considered the oral stage. This stage starts at the birth of the child and ends when the child turns one. During this stage the infant gets the majority of their interactions through their mouth. The rooting and sucking reflexes are very important during this stage because their mouths are vital for eating. Most if not all infants derive pleasure from oral stimulation through gratifying activities such as tasting and sucking. During this stage the child develops a sense of trust and comfort because the caretaker/parents are responsible for feedings. The primary conflict during this stage is trying to wean the child off because the child has to become less dependent of the caretaker/parent. Stage two is the anal stage. This stage begins when the child turns one and ends once the child is three years old. Freud believes that during this stage the primary focus of the libido is to learn to control bladder and bowel movements. The major conflict of this stage is toilet training because he child must learn to control his/her bodily needs. Once the child has developed such control they get a sense of accomplishment and independence. But, success at this stage is dependent upon the parents approach to potty training and this stage is more successful when praises and rewards are given. Stage three s the phallic stage and the erogenous zone is the genital. This stage begins once the child turns three and ends once the child turns six years old. During the phallic stage the libidos primary focus is the genitals. It’s at this age that children begin to discover the difference between males and females. Freud believes that boys, in this stage, begin to  view their father as a rival for their mother’s affection. The Oedipus complex describes the feelings that Freud says the boys go through during this stage. These boys also fear they will be punished by their fathers so Freud termed this fear castration anxiety. Stage four is considered the laten period. This stage occurs from the age six to puberty. During this stage the interest of the libido are suppressed. The development of the child’s ego and superego contribute to this period of calm. This stage begins just around the time that children are starting school and are becoming more concerned with peer relationships, hobbies, and other interests. This stage is very important to the development of social, communication skills, and self confidence. Stage five of the psychosexual development theory is the genital stage. The erogenous zone of this stage is maturing sexual interest. This is the final stage of psychosexual s=development, and during this stage the individual develops a strong sexual interest in the opposite sex. This stage will only end once someone dies. During this stage the interest and welfare of others grows. The goal of this stage is to establish a balance between various areas of life. After studying this theory, I now see why it is one of the most controversial theories. This theory places much of its focus on males an very rarely mentions the development of females. Freud’s theories can also be very difficult to test; for example, concepts that Freud uses such as the libido cannot be tested and are impossible to measure. New research being done often discredits Freud’s work. Freud’s predictions are also very vague, and is based upon case studies about adult patients and their recollections of their childhood not actual observation and study of children.

Physical And Mental Benefits Of Getting A Disease

About 60 to 70 percent of Americans do not get enough exercise (CDC ). Due to that, there is a huge percentage of Americans who don’t get enough exercise therefore, I am going to create a gym for teens and adults to enjoy. Health is important in many ways. One reason why exercising is important is because it is a struggle for most teens to get a certain amount of exercise. Exercise has many benefits such as physical and mental benefits. Which help people get more active and more aware of their surroundings. These benefits can help a person go further in life. Exercise also has benefits to prevent one from having a risk of getting a disease. Did you know that about 17 percent or 12.7 million children and adolescents from the age of two throw the age of nineteen are obese? (JAMA). In the paper I will be discussing the physical and mental benefits of getting exercise as well as how exercising can prevent diseases, and also I will be discussing what would be in the gym I plan to open and how I plan on opening it. Many teens do not get enough exercise, but exercise does have benefits such as physical and mental benefits as well as reducing the rate of getting a disease. Physical health is an important factor for a teen. A teenage should exercise but not too intense. Which means that one should not exercise too much that one would feel sick to his or her stomach. A teen should work for strength and it is best to do different types of exercise. Physical health is based onShow MoreRelated importance of physical activity in youths Essay1100 Words   |  5 Pages The Importance of Physical Activity in Adolescence nbsp;nbsp;nbsp;nbsp;nbsp;Engaging in physical behavior during adolescence is very important to the overall health of a child. 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