Human Resource Management strategy Essay Example | Topics and Well Written Essays - 1000 words

Human Resource Management strategy - Essay Example The concept of Strategic Human Resource Management has replaced the traditional perception of human management. Even though the traditional theories of human management (Maslow's hierarchy of needs, ERG theory and Herzberg Two-Factor theory) are still used by most of the HR managers, the functions have changed to include the strategic planning. Human Resource Management can build the organizational capacity and sustained competitive advantage. Organizations must be able to adapt to the changing environments and be ready to react to risks. Any organization that wants to remain successful must continually assess and formulate new strategies to meet the needs of its customers (both internal and external) in more effective ways (Marchington 2005). For example, if the organization is emphasizing the cost strategy, the changes in HRM activities will enable those strategies to become the major focus of organization. If particular, the multi-skilled employees and less expensive staff will help to meet the cost objectives. Without proper changes in HRM functions, organizational strategy might fail. Not a single organization is able to avoid conflicts and risks on the market. The development and application of the HR strategies of dealing with conflict determine the way company will deal with the outside conflicts. There are three HR views on dealing with conflict: traditional (conflict is harmful and requires the firm approach for avoidance), behavioural (conflict should be expected and turned into benefit), and interactionist (conflict is inevitable and should be challenged). These three views represent the ways companies are dealing with conflicts within organization, in the workplace setting. However, the same views can be applied to strategic management as well. For example, there is always the threat of competitor being more successful in marketing and if the company is ready to face this challenge, it can be turned into the benefit. Moreover, companies spend thousands of dollars to recruit talented employees and pay bug salaries to the individuals who contribute the company's success. At the age of globalization and increasing importance of skillful workforce, retaining employees is not an easy task and has become the part of the strategic planning. Employees, especially upper level, should be motivated not only to remain with the company, but also to improve their performance on continuous basis. As the research indicates, the Maslow's hierarchy of needs was not validated, but it does work in motivating employees (Purcell 2003). It is worth to note that the strategically important employees come into the company when the needs of the lower levels are already met and they seek for self-actualization mainly. Motivation of employees, as it was already noted above, is the key factor in achieving the company's success. Herzberg's Two Factor Theory provides the insight on motivators and dissatisfiers. Herzberg assumed that motivators are under the control of individuals, while dissatisfiers are under the control of organization. However, this assumption does not seem to be workable. For example, if the HR Managers knows about the factors which satisfy the employees and motivate him to contribute more into the company, these factors could be stressed continually. Thus, motivators are un

Marketing Foundations and Applications Essay Example | Topics and Well Written Essays - 2000 words

Marketing Foundations and Applications - Essay Example New product development often entails modifying an existing product or creating totally different offerings to satisfy a current need. In these product developments, business organizations may encounter hardships in identifying features which adds value to the customer. There are cases when current products cannot be enhanced because of shortage of ideas that can improve the offering. A good example of detergent soaps. Companies may be hindered in developing new detergent products which can boost the satisfaction of customer in this particular product. Next, product development can be unlikely because the business organization is operating in a fragmented market which implies that they need to aim their new products at smaller market segments thereby generating only meager profits and revenues. When developing new products, companies should take into account all of its current market and not just a segment of it. If not, the new product developed will completely change the positioning of the business organization in the industry and may also discourage their current customers in purchasing the new product. With the increasing clamor for being socially responsible, companies are often under the scrutiny and regulations of social organizations and the government. New product development can be critised because of the hazard that these products can bring to the consuming public. An example of this is the growing concern for obesity in the global arena which forces business organizations to modify their products and add only those which have more health benefits. Another criticism of product development is the large cost associated in the process which cannot be adequately provided for by the business organization. New product developments are investments which companies undertake. It should be noted that as investments, the greater the possible gain, the greater the risks which should be incurred. Product development can bring adverse financial impact to business organizations if gains are not realized. Another criticism of product development is the faster required development time which is needed in order to account for shorter product life cycle. It should be noted that the key to the success of a company is often linked to its ability of bringing products to the market at speed faster than its competitors. 2. What are the features and characteristics that differentiate business-to-business markets from consumer markets Illustrate your answers with examples. Since marketing deals with the identification and provision of customer needs, companies are intensifying their efforts in knowing their customers. Business organizations often cater to individual buyers which are collectively called consumer markets and other commercial