Unit 7.3 Strategic Resource Management (GC0370)

Table of Contents

Introduction.

1.1 A consideration of the objectives for your chosen organization and an explanation of how HRM contributes to their achievement

1.2 A critical evaluation of the role of HRM in your chosen organization.

1.3 Planning human resource requirements are important for the success of businesses M&S and also appraisal of its processes.

2.1 An evaluation of the recruitment and retention strategies of your chosen organization

2.2 A critical assessment of the techniques used to develop employees in the organization.

2.3 An evaluation of the contribution these techniques make in ensuring the engagement of employees

2.4 A systematic analysis of the effective strategies HRM department use in supporting the achievement of organizational strategy.

3.1 Table that identifies the organization’s objectives and shows the physical resources required to ensure the achievement of each of the objectives. The explanation for the resource management implications of the information in the table

3.2 Using the table above critical evaluation of the role of physical resource management within the organization

3.3 Systematical appraisal of processes that are used to plan the physical requirements of the organization

4.1 Investigate how marketing activities contribute to the achievement of organizational objectives in the organization   21

4.2 Critical evaluation of marketing operations in the organization.

4.3 Appraise the processes that the organization uses to develop its markets.

5.1 Investigate and report on how ISM contributes to the achievement of the objectives of this organization

5.2 Critically evaluate the role ISM plays within the organization.

5.3 Appraise the processes your chosen organization uses to plan its Information System requirements

Conclusion.

References.

Introduction

In the ever increasingly competitive business environment, it is paramount for an organization to focus on investment in human resources as it is a major source of developing a competitive advantage. The adoption of different business strategies is very common as a means of acquiring a competitive advantage when executives of an organization have a conversation. Taking the strategic approach can be specifically advantageous for individual functions within an organization as it is usually required for the justification of their needs for resources and the level of contribution they make to the company (Burnes, 2004). This report represents the analysis of strategic resource management perspectives of Marks and Spencer (M&S) in regards to organizational development and change. It discusses the strategic resource management issues the company is currently facing and the extent to which it affects the business operations (Word Press, 2011).

M&S is one of the leading UK retailers. It has approximately 21 million people visiting its different stores weekly. The company currently operates about 895 stores all over the world, where 600 of the stores are situated in the UK and 295 stores operate in other countries of the world. M&S was first opened in 1894 in Manchester. The formation of the company was made up of the partnership between Michael Marks and Thomas Spencer (Word Press, 2011).  M&S currently poses as the largest retailer of clothing in the UK. It also has an upmarket for retailing food. It is rated the 43^rd largest retailer in the world.

The company has also diversified into furniture, homewares, and technology. As of 1998, the company posted a profit before tax rating to1 billion pounds (Word Press, 2011). And this was a groundbreaking history in the retail world. The company is currently listed on the London Stock Exchange. Ever since the beginning of the 21^st century, the company has been able to have a very good turnaround and it has been able to post different levels of substantial profit over the last five years.  The company was ranked by Time Magazine to have the 17^th position in the list of top 100 employers of graduates (Word Press, 2011).

The human resource management of the company plays a very significant role in achieving the level of cost-effectiveness the company currently possesses. After the advent of the financial crisis, consumers in major developing markets have become very prudent. The majority of individuals have increased savings and reckless and extravagant spending or consumption has extremely reduced. In this kind of arising situation, retailers all strive to capture a higher share of the consumption of consumers (Word Press, 2011). The UK, which is one of the most important markets of M&S, was affected severely by the recession and it has not yet fully recovered from the throes of the recession. This study however focuses on the effectiveness of its strategic resource management and how it helps in achieving the organizational objectives of the company.

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1.1 A consideration of the objectives for your chosen organization and an explanation of how HRM contributes to their achievement

The primary M&S is to focus on shareholder value. The management of the company has the vision to achieve success for the company by having a sustainable business built for the long run, aimed at generating shareholder value with consistent growth in profit, and making sure that the consumer trusts the quality of products they offer and trust that they will always do the right thing (Francis, 2003). In regards to this, managers in the company recognize that creating value is the reward for taking risks that are acceptable.

The means in which objectives are achieved are:

• Profit maximization: by the use of the available resource such as machinery, people, and space of production to the best efficient extent in order that M&S remains very competitive in the available markets.
• Production of high-quality products: by monitoring the product quality in order that it is ensured for finished products meet the standard of quality that is expected by the consumers.

The human resource management in M&S is currently taking the role that was carried out by the personnel management. However, human resource management (HRM) in M&S elevates the labor force of the company to work towards the achievement of the objectives of the company (Marks and Spencer, 2014). HRM plays a very significant role in M&S as the organization accounts for the number of employees that might be needed in the company including the level of competence attained by the employees which will be required in order to maintain better and direct interactions with customers (Marks and Spencer, 2014). The employees of M&S which are highly held important in the achievement of objectives of the company are supervisors, trainees, and skilled employees. Another importance of the HRM in M&S is the fact that it makes sure the right employees are placed in the right job position in order that the level of competence is guaranteed and the extent of the success achieved by employees in the organization…………………..

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