Team Assignment #01

Discussion Questions

Question One

There are various challenges that arise when a company's workforce grows more diverse. In my opinion, the expansion of the workforce has both positive and negative impacts on productivity and cost implications. The size of the organization and the workforce available pose managerial constraints to ensure a smooth running of all the workers and ensure success. In cases where the workforce is well-coordinated, much success is attained; based on productivity, a large workforce helps in quicker delivery of products and helps in cost reduction, especially if their focus is on important activities. However, apart from these positive impacts that foster flourishment or expansion of the organization, some challenges are faced with a diverse workforce; some of these challenges include problems with colleagues, especially when there is miscommunication across the stakeholders. Communication problem is a challenge which is dominant with big companies that house a huge number of employees; some of the employees engage in gossips, bullying, troubles, and whiners, which have a negative implication on the overall performance and productivity of the company. Another challenge in the diverse workforce is the lack of a competent HR department that helps in addressing the well-being and the challenges that might arise within the employees. The HR is paramount to ensure that employees working rights are adhered to, thus boosting morale and employee satisfaction, which is seen in successful operation.

Question Two

In the present world, steep competition is on the rise, which worries many companies' management. The greatest competition is on prices, where the price margins have significantly declined, thus a need to come with strategies that would help organizations remain competitively advantaged. For this organization, the strategy that the CEO has proposed is cost reduction and containment initiative across the company.  The purpose of this containment is to control expenses and limit the expenditure, which can be achieved by staying within specified budget limits; after this process, the organization will improve its profitability and avoid long-term damage to the company.

The primary focus of this organization is to help in addressing the workforce. The body of management should be concerned with dealing with the available employees, increasing operation and productivity without increasing the budget allocation on labor inputs. Some of the useful aspects include outsourcing work to domestic workers who work out of their homes and urging employees to take time off either no pay or reduced pay. Another promising strategy is to consider hiring part-time employees. Additionally, now that a lot of concern has been put on health to offer insurance covers, company management might decide to dismiss employees; this applies to employees hired by a leasing company and contracting with the same company to lease back the employees. The purpose of the containment exercise is to streamline operations and increase efficiency by eliminating all the negative costs that the organization might incur. At the end of the operation, the organization will meet and exceed customers’ expectations while keeping the operating costs within the defined limits, tracking all the expenses, and looking for improvement opportunities.  

Question Three

There is a difference between these two terms (company’s corporate strategy and business strategy) can be highlighted in this contest. Primarily a strategy is a procedure for making decisions to achieve long-term goals. In organizations, it is the role of HR to support the implementation of corporates business strategy. The latter strategy refers to ways organizations plan to achieve their outlined objectives within a particular business. The main focus of the strategy is to monitor how the company competes against other corporations (Yuan et al., 2020). This is the concept whose concern is the choice of products, customer satisfaction, and competitive advantage. The purpose of a business strategy is to highlight market opportunities for businesses to explore, and new ventures get conviction to invest in the business.

On the other hand, cooperate strategies are based on management plans whose impact is directed towards the entire business organization. The master plan in this strategy is to help the organization achieve success in the market. The purpose of cooperating strategies is to determine the company's growth objective while highlighting the business patterns, goals concerning strategic interests, customer groups, and product lines. The ultimate objective of this strategy is to ensure the business remains sustainable.

Question Four

Based on a complaint from an individual, we need to address the issues on a strategic HR approach that is deemed inadequate to partner with the organization. The plan is strategic if it encompasses all the procedures concerning making goals and actionable strategies. A robust strategy is termed strategic human resource management (SHRM). The nature of this strategy is to ensure that patterns of human resources deployments and activities enable the organization to achieve all the set goals. The importance of the SHRM is primarily to combine strategic planning and HR planning (Delery & Roumpi, 2017). More so, SHRM has strategic formulation, which provides inputs on possible given types and numbers of people available, and strategic implementation, which makes resource allocation decisions towards the implementation of devised strategies. The alignment of the strategy is to ensure alignment of the HRP and the Strategic Planning, which incorporated two processes; one is the firm’s HR strategy which follows and supports the business strategy, which is essential in the implementation. The purpose of the strategic planning was to address people’s culture and the climate of a company constraints a firm’s ability which would be useful to achieve strategically.

Question Five

The execution and implementation of the company strategy and measure of the results encompass some key processes. These strategies offer an overall scope and direction of a corporation, and its various business operations achieve set goals. The execution process entails visualization of the process, measure the strategy, which entails the key elements of the visualized strategy. Also, the process involves report on the progress of the budget, which should be reviewed regularly and take control of the performance. What follows is decision-making on strategy execution toward the stated destination and identifying the strategy projects, depending on the organization scores, where they get a firm grasp on the type and range of the projects. With many strategies, we, therefore, need to manage the projects, where the organizations develop a capability to execute the strategy effectively. In the implementation process, the essential process is communication with the leaders and other stakeholders (Brui, 2018). Also, we need to align the roles of all the individuals and thus make a meaningful contribution to their organizations' success. Then lastly, the last execution process is to reward performance; this happens after the whole process is done. At the end of the strategy, it is important to align with the workforce, the senior managers, and the corporation is assured of success at the end of the process.

 

References

Brui, O. (2018). Implementation of strategic management based on the balanced scorecard in a university library. Library Management.

Delery, J. E., & Roumpi, D. (2017). Strategic human resource management, human capital and competitive advantage: is the field going in circles?. Human Resource Management Journal, 27(1), 1-21.

Yuan, Y., Lu, L. Y., Tian, G., & Yu, Y. (2020). Business strategy and corporate social responsibility. Journal of Business Ethics, 162(2), 359-377.