Introduction to Business and Management - Assignment Example

Introduction to Business and Management Introduction to Business and Management Question Human resource departments represent one of the departments that an organization cannot function without. This is because these departments are responsible for the organization’s performance as they are directly related to the entity that drives the organization; the employees. Being responsible for the welfare of the employees means that the human resource department has a direct effect on the outcome of the organization because this department determines how motivated the employees are and how satisfied they are with their jobs. Here, this department is responsible for how tasks are done in the organization as it facilitates and puts into action all the directives that have come from the management of the organization (Functions of Human Resource Department, n.d). This implies that realization of organizational objectives and goals, which determines the performance of the organization, is in the responsibility of the HR department. To fulfill these goals, the HR department has various functions that are delegated to it. First, it has the responsibility of hiring new talent to fill specific spots in the organization. This is one of the most important roles of the HR department because it helps an organization in acquiring a set of skills that it requires. This comes with other objectives that include retention, which is determined by how the HR department treats the employees. The right set of skills is responsible for raising an organization’s profile and even in acquiring a competitive strategy. Second, the HR department trains and develops the employees. Following recruitment, this department trains the employees to acquire skills for performing in various segments of the organization. Third, HR department also plays the role of compensating the employees according to performance. Rewarding systems are developed according to organizations where some allow employees to suggest the rewards they would like while others are dictated. This department also has other roles such as determining salaries, dismissal, and safety of employees (Mayhew & Demand Media, 2015). Question 2 Being a multinational business, Tesco should use online and social media recruitment as its key external recruitment method and emails as internal recruitment methods. External recruitment methods such as online recruitment have a key advantage of providing a wide pool of qualified individuals to choose from. In addition, this gives the organization a new set of skills and it is affordable because social media is free for most entities (Kleynhans, 2006, p. 88-91). As a recommendation, when looking for a new set of skills, Tesco should use online advertising due to the advantages. However, if the organization decides to simplify the procedure and embark on internal recruitment, the best method to use is emails. The organization would send inexpensive emails to potential employees basing on their educational background and performance at work. Through this method, the organization would be able to choose the best candidate easily and fast and would motivate other employees to work hard for an opportunity to be promoted (Lewis, 2007, p. 241-243). Therefore, the new customer service assistants can come from the existing employees or a larger pool of unemployed individuals outside the organization. Question 3 With respect to the selection methods, the best method for Tesco to use is psychometric testing. Although interviews have been used in the past and viewed as effective, they have a myriad of errors that follow selection using this method. Some of these include the fact that interviewers are more concerned with asking questions that are both tricky and unrelated to the job, method has rater errors, and inappropriate questions are common in interviews (Types of Selection Methods, n.d). These errors have been eliminated by the psychometric testing. This is generally a type of a mental measure. Specifically, the involved forms of testing include aptitude testing, ability testing, and personality profiling. This form of selection procedure is performed by a qualified staff. Here, personality profiling is usually carried out by level B qualified individuals while those qualified under level A undertake the rest of the testing (Selection Methods, n.d). The main advantage of this selection method is that the organization is able to test the potential employee based on work related tests. This yields the anticipated results as the organization selects the most appropriate individuals. Among other things, this selection method tests critical thinking and the ability to come up with ideas to resolve an issue. Therefore, problem-solving skills are also tested. This is what contemporary organizations are looking for. Question 4 Marketing mix is one of the integral tools in every effective marketing strategy. This is because it incorporates the assessment of key roles played by place, price, product, and promotion in the organization’s approach towards marketing. Marketing mix has the role of conveying information to the customers on what the organization has to offer. This is the product element and it is what the organization intends to sell (Kokemuller & Demand Media, n.d). Where the product is offered, online or in store, is also equally important and it makes the distribution element important. The price element is also essential because it affects the offering, or the product, directly by determining their value. Marketing mix also helps an organization in identification of a target group. An organization is interested in supplying the product to this market. The products as well as the prices are the key issues in the identification of the market. The promotion element comes into play because it is essential for an organization to identify the media that the market uses so as to undertake appropriate promotion. Media could include radio, television, magazines, billboards, and Internet. The target population determines the media to be used. The promotion element is also important in message delivery. Here, the organization should choose the messages they use on their products wisely because the attractiveness of their products depend on that too. Furthermore, from a general perspective, the marketing mix allows an organization to create value (Bradley & Demand Media, n.d). Marketing campaigns that provide products at fair prices give the organization an opportunity to succeed because the customers buy what they view as the best value for their hard-earned money. Creation of value also means looking for affordable marketing options for optimal returns. Question 5 Marketing mix of Coca Cola Product Has the largest portfolio in beverages Comprises of at least 3300 products Beverages categorized according to diet Products include energy drinks, fruit juices, fruit drinks, tea, coffee, and water. Varieties: Fanta, Sprite, Mazza, Thumsup Products available in 200 countries Price Prices divided according to sub-brands and geographic segments Pricing strategies also different for various sub-brands Pricing determined through competitor prices Place Coca cola uses FMCG pattern Products available in bottles in retails and supermarkets globally Also uses pop vending machines in public buildings and businesses Promotion Television advertising most common Magazines, and social media have also been used to promote products Promotional campaigns Question 6 Operations management is an important aspect in business. Although its importance varies with industries, operations management mainly ensures the smooth running of the production process or the process that leads to the output of services and goods. Operations management helps in acquiring of raw materials as well as devising the best production option. This is to ensure that value adding takes place in the most effective and efficient way (Barnes, 2008, p. 3-4). The operations manager is involved in the setting of organizational goals so that they can know the resources and the methods to use for optimum productivity. Specifically, operations management helps an organization in cost leadership and differentiation of goods and services. With regard to cost leadership, it helps a manager in producing goods and services at a lowest cost while maintaining high quality. The capacity to reduce production cost aids the organization in acquiring a competitive advantage. The reduction in production cost is reflected in the finished product as a reduction in price. This then leads to cost leadership. On differentiation, operations management can be effective in aiding an organization to differentiate its products through application of technologically advanced production methods (Brown et al., 2013, p. 4-7). This is responsible for the production of high quality products at reduced prices. Offering high quality products at affordable prices as compared to those of the competitors is differentiation. Question 7 There are various core functional activities that take place at Tesco and that and value to the organization. First, research and development is an important activity at the organization. This adds value to the organization by ensuring that the organization competes adequately so that it can achieve a sustainable competitive edge. This is made possible through new ideas that can only be discovered through research. Although this could be highly beneficial, it leads to risk taking, as some of the concepts have not been put to test. Second, the other core activity is administration. The administration role adds value through establishment of coordination of tasks in the organization. This helps to keep the organization functioning in an orderly manner. The administration brings together various parts of an organization so that they can work towards realization of a common goal. This also has the function of facilitating good communication between the management themselves and the lower level workers in the organization to ensure coordination. The administration also establishes proper procedures for undertaking certain tasks such as monitoring and controlling. Third, the marketing function adds value by looking for the customers to whom to supply the products. This is also achieved through customer care services and development of promotional techniques. For this function to be successful, it has to be collaborated with other departments such as finance, production, transport, and purchasing departments. Without this department, the customers would not be aware of the products being offered by Tesco. References Barnes, D. 2008, Operations management: an international perspective. London, Thomson. Bradley, J. C. & Demand Media. n.d, How to Study the Importance of a Marketing Mix. Available at < http://smallbusiness.chron.com/study-importance-marketing-mix-71890.html> [Accessed 29 Apr. 2015]. Brown, S., Bessant, J. & Lamming, R. 2013, Strategic Operations Management. New York, Routledge. Functions of Human Resource Department. n.d, [Online] Available at [Accessed 29 Apr. 2015]. Kleynhans, R. 2006, Human resource management. Cape Town, South Africa, Pearson/Prentice Hall South Africa. Kokemuller, N. & Demand Media. n.d What Is the Importance of the Marketing Mix in the Development of a Marketing Strategy & Tactics? Available at < http://yourbusiness.azcentral.com/importance-marketing-mix-development-marketing-strategy-tactics-10502.html> [Accessed 29 Apr. 2015]. Lewis, P. S. 2007, Management: challenges for tomorrows leaders. Mason, OH, Thomson/South-Western. Mayhew, R. & Demand Media. 2015, 10 Reasons HR is Important to an Organization. [Online] Available at < http://smallbusiness.chron.com/10-reasons-hr-important-organization-22424.html> [Accessed 29 Apr. 2015]. Selection Methods. n.d, [Online] Available at [Accessed 29 Apr. 2015]. Types of Selection Methods. n.d, [Online] Available at [Accessed 29 Apr. 2015]. Read More