Human Resource Management Strategy - Assignment Example

Industrial Contents HR Manager 3 Answer 3 Answer 2 4 Answer 3 6 Marketing Manager 8 Answer 8 Answer 2 9 Answer 3 10 Answer 4 11 Answer 5 12 References 13 HR Manager Answer 1 Culture, values and beliefs form the basis of an individual’s characteristics. Culture can be defined as knowledge and characteristics that is shared by a group of people. This aspect encompasses religion, cuisine, music, language, arts and social habits. The term culture is also stated as shared pattern of interactions and behaviours. It is an understanding along with cognitive constructs which is learned through socialization. A particular group of individuals is expected to exhibit similar culture. Identity of this group is developed through a specific type of social pattern. The root level meaning of culture is to nurture and cultivate. Values and beliefs to certain extent cannot be differentiated since they are internal to an individual. Beliefs and values are most integral component within an individual that governs their overall behaviour. Values basically includes analyzing what is wrong or right and staying truthful to others. This factor greatly influences attitude and behaviour of a person. There are certain common values for business such as community involvement, innovation and fairness. Beliefs and values are in-built within an individual and this drives their overall culture. Values can also be incorporated by getting influenced by a social group. Every individual possesses a set of values and beliefs which one follows for life-long. Organizational culture, values and beliefs play a significant role in terms of building a corporate image. Culture clearly reflects the execution of business operations in an organization (Boxall and Purcell, 2003). Organizational value helps to structure set of behaviours which is shared amongst all team members. This aspect distinguishes one organization from others. Values not only enhance commercial value but even enable workforce importance in a firm. For instance, some companies are focused on achieving high performance standards and some are aligned with developing a participative work culture. Hence values are different in both these organizations and this creates different corporate images. This can be observed in real world scenario where some firms are regarded as high performance workplace and some companies are denoted as following appropriate work culture in terms of employee motivation or level of job satisfaction. An organization’s importance is totally dependent on its set of values and beliefs. For example, a firm can be inclined towards seeking high revenue margins whereas another firm might be closely knitted with achieving higher level of customer satisfaction by offering superior quality products or services. In certain circumstances following profit oriented culture disrupts corporate image due to lack of trust amongst employees and customers. On the other hand, adopting culture of being customer or employee oriented develops a positive corporate image. This eventually signifies that company is not only concerned about obtaining high profit margins but even aims at structuring strategies for customer and employee satisfaction. Different values facilitate creation of different organizational cultures. It can be stated that culture basically signifies priorities of an organization. However if appropriate culture, beliefs and values is not maintained it results into less effective corporate image. This image building is essential for all firms since it is a key element for sustaining market place position. Answer 2 Mission of an organization can be defined as a purpose that is required to set strategic decisions. Every firm encompasses certain aims and they are grouped together for a particular purpose. The major purpose of CropCo is “bringing to life a plant’s potential”. It can be stated that motive of this mission is to energize all stakeholders. Mission constantly motivates stakeholders to perform well and accomplish key objectives. The company has been able to condense its overall key objectives into a particular vision. CropCo’s vision is to enhance level of productivity and plantation of crops in an ecologically sustainable measure comprising of minimal costs. The values of this organization are aligned with its mission and vision. Their values represent commercial value as well as its existence of being a human-focused firm. Human resource functionality of CropCo has been able to improve its mission and vision. There are unique factors outlined in HR system. Health and performance factors are encouraged by HR system of CropCo. Performance can be stated as quality and achievement. HR department of this company is inclined towards developing a suitable workplace environment where employees can enjoy their job roles and responsibilities. The health aspect supported by HR department enables development and growth within an organization. It can be stated that human resource management of CropCo understands its mission and simultaneously takes into account employee productivity. In order to achieve vision it is essential to enhance health aspect of employees. This could be done through paying more attention on employee’s health so as to increase their performance level. The company is highly concerned about investing more into research and people as it helps in accomplishing set objectives. All of CropCo’s values which forms basis of human resource management is about enforcing high standards of ethics and safety. HR system of CropCo is in place to foster mission and vision of the company. In overall context vision of the company is to increase its level of productivity so as to ensure its existence in market place for long run. This vision statement is supported by operations undertaken by HR department. Achievement recognition is one of the essential aspects of CropCo’s HR system. The company has designed various awards in order to appreciate employees for their job performance. Employees are encouraged to share their journey which led to career development and success. These stories are then utilized as a major source of inspiration for all team members. The company’s HR department is adopting required measures to increase employee productivity but mission can be achieved at a faster rate through incorporating necessary skills in employees. It is important that HR department incorporates training and development in business operations. This would help to evaluate employee’s performance and impart necessary knowledge in team members (Bamberger and Meshoulam, 2000). Vision and mission are basically framed for long term perspective so it can be well supported only if there is a base of productive employees. Hence HR department needs to focus on this particular program in order to improve and sustain mission and vision of CropCo. Answer 3 In recent scenario the demand for CropCo’s products has surpassed its supply capacity. The major area of concern for the firm is to increase its overall production capacity. This would enable the company to address high rise in market demand. In midst of intense competition it is important that organizations follow appropriate ethical standards since it contribute towards corporate image. Many firms do not give much emphasis on these ethical standards because in certain scenario it is more important to retain competitive position. Engineering staff of CropCo shall be more determined towards designing new products and meet demand level. This is a common phenomenon observed within every employee. However proactive measures have to be implemented by a company to retain their market place image. Ethical standards and practices needs to be common for all employees. These practices have to be framed by the top management of CropCo and needs to be triggered at every possible organizational level. Firstly an introductory session should be conducted which will describe basics of ethical standards. This session needs to be attended mainly by engineering staff. While hosting this session focus shall be on importance of ethical standards and practices. At the end of this session employees would be evaluated in order to judge their understanding about ethical practices. This shall help managers to analyze which employees are attempting to critically understand the concept of ethical practices. On the contrary, it would determine percentage of employees who are not in favour of following ethical standards. Ethical standards need to be embedded within the engineering process and design. These standards should be built upon common interests of all stakeholders. Ethics mainly comprise of developing business activities which address customer demand. Firms need to be aligned with ethical practices since it denotes originality of business operations. Engineering staff are usually work oriented and are more focused towards achieving high incentives. The firm can make these practices mandatory for all engineering staff. There needs to be strict regulation regarding adoption and implementation of ethical practices. More than five leaders have to be appointed who would take care about ethical standards being followed by engineering staff. These leaders will directly report to the management and present a report on employee’s performance while following ethical practices. It shall prove to be a threat for employees since their unethical behaviour would be conveyed to top management. Reward systems often are considered as an effective mechanism (Wintzer, 2007). CropCo can implement a reward scheme through which those engineering staff shall be rewarded who is following ethical practices. This in turn will motivate other team members to perform as per set ethical standards. Apart from reward schemes the company can even align ethical standards with performance appraisal system. The strict regulation on performance of engineering staff shall reveal which of the employees are adapting ethical practices. This in turn would influence all team members to perform as per ethical requirements. Marketing Manager Answer 1 Fungikill is stated as the best selling products of CropCo. It is a leading fungicide across the globe. The problem identified in this study is CropCo not being able to meet efficiently consumer market demand for Fungikill. There are definite values being followed by the company over the years. Marketing plays a significant role in terms of re-introducing fungicide into the market place. The company needs to implement the concept of differentiation for this product. This shall be attractive for consumer market and also enable acquisition of desirable market share. Ethical and environmental norms of the firm can be sustained only if any false substance is not highlighted. The company needs to highlight their original product along with its benefits. Trust can be developed in the industry only when CropCo is able to deliver desirable product quality as promised. Differentiation process will support the company in context of differentiating its product features from that of other firms. Fungicide is a product well known to many manufacturers but differentiation in terms of product features, price, etc., shall enhance brand image. On the other hand, extensive distribution strategy has to be incorporated. This will help CropCo to directly reach out to farmers. There are farmers who are not able to afford costly fungicide. This kind of distribution channel will increase convenience level of customers. Online channel is another media which can be introduced by CropCo. This would benefit certain section of consumer market. Direct selling can be another effective method that can be implemented by the company. In certain circumstances it becomes essential to train farmers about the product. CropCo can send their executives to various locations to distribute Fungikill and even train farmers about various methods used to safeguard crops from any external harm. This in turn shall differentiate company’s operations from that of its competitors. Answer 2 As per product life cycle, Fungikill has reached its maturity stage. There is high demand in consumer market for this product which has facilitated increase in production capacity. Marketing strategy is a phenomenon to emphasize on product strengths in order to attract mass market. There is a high threat for substitutes and new entrants in this industry. This initiates development of a productive strategy that can retain market position for long term. Few elements needs to be involved in marketing strategy like product design, communication channel, price, place, people, etc. The marketing strategy of Fungikill should firstly encompass an innovative tagline. This will provide uniqueness to the product being offered. The new tagline of product would be customer centric, outlining its key strengths. This shall be supported with appropriate advertisement campaigns. Marketing strategy of the product is to offer quality product at reasonable price. Price needs to be low for customer market in order to enhance affordability of offered product. Differentiation forms the basis of this marketing strategy and it can be implemented through applying the concept of integrated communication mix (Proctor, 2014). Standardized brand message should be communicated across different media channels. The major aim behind this marketing strategy is to enable wider access of customer market and educate farmers about the concept of fungicide. Bulk purchases can be encouraged by the company in order to regulate the level of supply and demand. Threat of new entrants can be stabilized by offering competitive prices as per market condition. To be more precise Fungikill has reached the maturity stage and it can be overcome through following maintenance strategy. This forms an effective strategy of BCG matrix. CropCo can incorporate this strategy through implementing a stable marketing mix which is inclined towards seeking higher levels of customer satisfaction. Answer 3 CropCo invests a lump sum amount in its wide array of research and development activities. It can be clearly stated that research and development forms the backbone of overall business operations. In real world scenario, uncertainties are a common element in every business operation. These uncertainties can be predicted to a great extent through researching areas linked with business activities. Market uncertainties are usually high in case of fungicide manufacturing. This is simply because new factors tend to affect crop growth or cultivation. It becomes essential to research and identify methods to eradicate such negative factors. CropCo over the years have been investing in research activities and needs to sustain it for longer period of time. For future years the company should focus more on probable fungicides which can be launched by competitors. This would give an added advantage to the firm in terms of product development and satisfying customer needs. CropCo needs to research on hidden demands and wants of customers. This in turn shall reveal those areas which are not being addressed by other companies. Research and development in this field would be realized in long term through increased revenue margins and wider base of customers. Maturity phase of the product can also be eliminated if continuous focus is on research and development activities. The company can even plan to develop a team who shall be more concerned towards introducing new product that can enhance crop growth. These products will help farmers to grow crops at a faster rate and reduce factors affecting the growth. Apart from these activities, research and development team could even evaluate performance of the company with respect to its other competitors. This would enable the firm to undertake proactive measures. On the other hand, this kind of research gets its realization through achieving sustained market position. Answer 4 A firm’s operations are basically surrounded by large number of factors. These factors affect business activities either in positive or negative way. In overall context, external and internal environmental threats are highly distinguishable from one another. There are different strategic tools which are incorporated to analyze these threats. CropCo operates in a competitive market place where manufacturers are offering similar products to target audience. This in turn requires structuring productive strategies which can retain corporate image. Five Forces model designed by Michael Porter is an effective tool to predict possible internal and external environmental threats. CropCo is surrounded by competitors and its best selling product Fungikill has reached maturity phase. Internal threats for the company are mainly in context of suppliers and customers. These threats are becoming stronger with increase in number of companies. Bargaining power of suppliers is increasing due to similar fungicide manufacturer available in the market place (Porter, 2013). On the other hand, supplier’s goals are not aligned with goals of the manufacturer and it leads to conflict amongst both parties. Bargaining power of customers is another form of internal threat for CropCo. This aspect is continuously increasing due to availability of similar products in the market place. The company needs to differentiate its products so as to stay ahead of competition. External environmental threats are prominent for CropCo. Porter’s model is an appropriate strategic tool for the company as it helps to analyze different forces. External forces comprise of threat of new entrants, substitute products and competitive rivalry. There is intense competition present in the market place and this tends to affect performance level of the firm. Fungicide being manufactured by CropCo can be substituted by any other product which shall adversely affect its business operations. Increased growth rate of crop cultivation is also initiating more number of manufacturers in the industry. Answer 5 Marketing activities are an integral part since it highlights overall product features. In these activities product prices are a matter of concern for customers. Prices should be structured keeping in mind characteristics of target audience. The demand for a product will increase only if it is well aligned with such characteristics. There are affordability issues with product purchase and can be mitigated by offering competitive prices. CropCo needs to design its price structure on basis of market competition. The company cannot charge premium price since similar products are being offered by other manufacturing companies. CropCo can differentiate its product line by stating that they offer quality products and work in collaboration with farmers. This would enable customers to connect easily with the brand. The best pricing strategy which can be implemented by CropCo is cost plus pricing. It is essential for a company to address all possible operational costs while providing products at least prices. This strategy will enable the firm to offer competitive prices along with maintaining its operational costs. Promotional campaign needs to be effective for CropCo since some of its products are at maturity stage. The differentiate factor has to be highlighted in all promotional campaigns (Fill, 2006). CropCo can conduct a campaign where farmers would be taught innovative methods to cultivate crops. This campaign shall also encompass promotion of Fungikill and other related products. Some additional features should be incorporated within the product in order to attract wide base of target audience. Promotion would not only be done through direct selling but even through billboards, advertisement campaign in newspapers, radio, television, etc. Social media in current scenario can also be utilized as a promotional media so as to reach to target market. The major aim of CropCo’s promotion is to regulate cost factor and enhance effectiveness. References Bamberger, P. and Meshoulam, I., 2000. Human resource management strategy. Thousand Oaks, CA: Sage. Boxall, P. and Purcell, J., 2003. Strategy and human resource management. Basingstoke: Plagrave. Fill, C., 2006. Simply marketing communications. UK: FT Prentice Hall. Porter, M., 2013. On competition. USA: Harvard Business Press. Proctor, T., 2014. Strategic marketing: an introduction. New York: Routledge. Wintzer, E., 2007. Global competition and strategic management. Germany: GRIN Verlag. Read More