Sample ON Strategic Resource Management

STRATEGIC RESOURCE MANAGEMENT By

TABLE OF CONTENTS INTRODUCTION ...........................................................................................................................3 ACTIVITY 1: HUMAN RESOURCE MANAGEMENT (HRM) ..................................................3 1.1 Contribution of HRM practices in achievement of objectives of an organization ............... 3 1.2 Evaluating role of HRM........................................................................................................ 4 1.3 Appraising the process of human resource requirements for M&S ...................................... 5 2.1 Evaluation of recruitment and retention strategies in M&S ................................................. 5 2.2 Assessing the techniques used to develop employees in an organisation ............................. 6 2.3 Evaluation of the contribution of these techniques and ensuring the engagement of employees ................................................................................................................................... 7 2.4 Strategies used by HRM department in achieving organisational strategy .......................... 8 ACTIVITY 2: MANAGEMENT OF PHYSICAL RESOURCES ..................................................8 3.1 Contribution of physical resource management in achievement of organizational objectives ..................................................................................................................................................... 8 3.2 & 3.3 Role of physical resource management in M&S and appraise the process used to plan the physical resources requirement ..................................................................................... 9 ACTIVITY 3: MARKETING........................................................................................................10 4.1 Contribution of marketing activities in achievement of M&S objectives .......................... 10 4.2 Evaluate marketing operations in M&S .............................................................................. 10 4.3 Process that M&S uses to develop its markets ................................................................... 11 ACTIVITY 4: INFORMATION SYSTEM MANAGEMENT .....................................................12 5.1&5.2 Role of Information System Management in achievement of objectives of M&S ..... 12 5.3 Processes used to plan IS requirement in M&S .................................................................. 13 Conclusion .....................................................................................................................................14 References ......................................................................................................................................15

ILLUSTRATION INDEX Illustration 1: Information system requirement .............................................................................11

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INTRODUCTION Strategic resource management is the link between different resources with strategic goals and objectives made to improve the business performance of an organization. Managing resources as per the objectives of an organization is an important concept. This report focuses on four major areas of an organization i.e. human resource management, management of physical resources, marketing and information system. It demonstrate the understanding of role of HRM in Marks and Spencer retail company. In short it details the contribution of all the four resources in accomplishing the objectives of Marks and Spencer.

ACTIVITY 1: HUMAN RESOURCE MANAGEMENT (HRM) 1.1 Contribution of HRM practices in achievement of objectives of an organization Objectives of Mark and Spencer The main objectives of an organization is 

To increase its sales and market share in retail.

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Delivering high quality goods with reasonable prices.

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To become worlds most sustainable retailer.

Contribution of HRM Human resource management plays a major role in an organization to perform maximum capability in high fulfilling manner. HRM is the major approach within a firm where people work individually and collectively together contributing to the achievement of objectives of an organisation. Here, employee's develop their resources, utilize, maintain, compensate their services with relation to company's requirement. The main features of HRM are organisational management, manpower management, personal administration and industrial management (Strategic Human Resource Management. 2009). These features helps in achieving the objectives of the firm.

HRM plays a key role in risk reduction within organisation and also provide a significant economic benefit to the firm. It is concerned with managing people who will assist in Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

achievement of organisational objectives. They provide innovative ideas for producing better quality goods and increase sales in the market.

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1.2 Evaluating role of HRM The main roles of an organization are as follows: 

Planning: Planning is done to determine the goals of organisation and laying down policies and procedures to reach that goals. The cited firm plan to increase the sales of the firm for which they make a plan to recruit creative staff who can contribute in the strategic goals of the firm. Planning function helps management of M&S to develop skills of employees and provide them specific training to attain results. While, the disadvantage is that it takes lot of time and training the people and also incurs huge cost.

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Organizing: It means designing the organisational structure to carry out various operations in an organization. Managers assign different functions to individuals and delegate authority and responsibility according to the tasks. M&S should organize the operations effectively and thus delegate the authority effectively. At the time of delegation sometimes it is difficult for company to assign duties and responsibilities to individuals which results in losses.

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Directing: When assigning the tasks or activities to an individual, it is important for the firm to motivate and encourage people at work (Strategic Resource Management. 2015).

Company can motivate their employees through salary administration, career planning, developing cordial relationship and ensuring employee morale. The main advantage for M&S of directing is that employees are required to motivate by providing varied incentives etc. so that best results can be attained. While, the disadvantage is that it affects employees who are not able to perform the tasks well.

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Controlling: Controlling is done by regulating the activities with accordance to plan, which in turn have been formulated on the basis of objectives established by the company. The managers control by comparing the results with standards and corrections is made as per the requirement. M&S management is required to control the control and regulate the activities through proper planning so that best actions can be attained. While, if the standards are not set and correct actions are not undertaken then it affects the operations of firm.

1.3 Appraising the process of human resource requirements for M&S Planning the human resource requirement is an important part in business success. M&S uses different human resources processes so that the business grows well in the retail market (Lengnick-Hall and et.al., 2009). With that the processes also help in analysing the demand and supply of human resource with optimal requirement of resources. The human resource processes adopted by M&S are as follows: 

Assessing human resources: The cited firm have to assess human resource by carrying out external and internal environment of the firm. These assessments will be help in analysing the human resource at work.

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Demand forecasting: HR forecasts the demand for the human resource required in a cited firm. It determines the availability of individual in terms of quality and quantity (Mello, 2005). By analysing the current human resources, an organization can make estimation for future requirement of employees.

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Supply forecasting: Management of M&S must analyse the labour turnover during the past few months through which they can estimate future availability of man power within an organisation. Supply forecasting can be done through internal and external sources too.

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Action plan: At last the HR department will develop a plan according to the demand and supply of human resources within an organization (Greer, 2001). The proper action plan will relate to recruitment, selection, training and development.

2.1 Evaluation of recruitment and retention strategies in M&S Recruitment and retention strategies are generally identified by their methods which is used to recruit the candidates for the firm. Recruitment strategies include recruitment and selection whereas, retention strategies includes career development, training, motivation, direction, supervision and support (Colbert, 2004).

When there is requirement for employees in an organization, the cited firm uses a strategy for recruiting new staff in the firm. They advertise jobs on the Job Centre Plus website, on their own websites, they uses banner outside their stores or appoint consultant firms who shortlist candidate as per the required position (Analoui, 2007). Following is the recruitment process used by M&S.

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Talent screening is conducted over telephone or online.

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Once the candidates pass the talent screening tests than they offer an interview session.

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During interview a specific questions are asked to know the capability of an individual for the required position.

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After interview the passed candidates are selected for the position.

Company retain their staff by monitoring and supervising their performances. They

provide a training program which help in developing their skills which required to fulfil the requirement of the job. Employers provide career development opportunities to individuals by guiding and motivating them towards there work. 

Recruiting qualified candidates- It can be evaluated that recruitment and retention strategies are crucial as it helps firm to achieve growth within firm. The main advantage is that business assists in recruiting the best talent and enhance the brand image of M&S in market. However, with the help of this skilled individuals are selected to carry out the operations at business.

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Retaining talented workers- On the other retention strategy is crucial in order to retain skilled employees at workplace and decrease the attrition rate of employees. Because if the employees leave the job because of dissatisfaction regarding work culture or salary then it affects the business.

2.2 Assessing the techniques used to develop employees in an organisation M&S uses different techniques to develop employees at work which help them in accomplishing the goals of the firm. The company encourage their employees to attend seminars and conferences related to their job specification (Nankervis, Compton and Baird, 2002). As this will help them in developing their skills and professional knowledge. 

On the job training: Employers of the cited can provide on job training where the team leader is responsible for training their employees on knowledge and skills. Immediate feedback given during the training provides faster growth to the candidate and they carry out their task easily.

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Off the job training: the company can use this method where employees are given demonstration related to their work. With that they are also provided with external courses which help in learning and developing new skills and knowledge.

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Management training: This method can be used by M&S which includes workshops training, training on managing skills, guidance on communicating and motivating employees and so on will help them in enriching their performance through proper guidance (Priem and Butler, 2001).

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Job rotation: Job rotation will help employees in developing their skills by learning additional skills by performing additional task unrelated to original job.

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FOR Instant Essay Writing KINDLY CONTACT AT: help@instantessaywriting.com 2.3 Evaluation of the contribution of these techniques and ensuring the engagement of employees It can be evaluated that M&S undertakes varied on the job training method such as performance appraisal so that employees can enhance their skills and knowledge in order to attain goals. This is assessed that all the techniques used by M&S in order to develop employees helps in ensuring the engagement of workers within the business. Training and development techniques used by the firm build their skills and knowledge so that it ensure employee engagement and attain target efficiently (Schuler and Jackson, 2008). Hence, for any business organization employee engagement and satisfaction is the important factor in planning strategic Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

goals. Performance appraisals also contributes in employee engagement where staff are committed to their organizational goals and objectives. As it help in motivating employees to contribute to organizational success.

Job rotation techniques also help in ensuring employee engagement within each and every department which assist people in gaining knowledge of other fields (Barney, 2001).

However, with the help of Job rotation it assists individual to develop it skills and knowledge regarding different departments so that results can be attained. It also helps in performing tasks by engaging with each other and participating in group work activity. Furthermore, the by gathering feedback and improving workplace communication will help to engage employees to perform well and attain the goals.

2.4 Strategies used by HRM department in achieving organisational strategy There are different strategies can be used by human resource department to achieving organisational objectives. HRM department will analyse the needs and requirement of employees for a particular position. For that the HRM depart will make a recruitment program through which eligible candidates will be chosen for required position. The employees selected will be provided with proper training which help them in developing their skills and abilities (Storey, 2007). Training session organized by HRM department will help in will assist in achievement of organisational strategies. The HRM department have to make a strategy to identify the needs and requirement of employees at work and with that providing proper opportunities for career development. It is important for employers to assess the needs and requirements of employees and imply the tactics related to motivating and appraising employees for their performances. This will help them in performing their activities to attain desired goals.

ACTIVITY 2: MANAGEMENT OF PHYSICAL RESOURCES It is necessary for M&S to develop their physical resources such as materials, equipment, machines, buildings etc. So that these resources can help in attaining the goals of the firm. The physical resources like materials will help in producing the products and that product will be Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

built with the help of innovative machinery (Das and Teng, 2000). Company can stores these goods in building like warehouses where the product is fully safe and secured. All the physical resources help in building effective relationship with customers by satisfying their needs. By implementing innovative technology firm can provide effective resources to their customers.

Moreover, to provide convenience to employees, company have to prepare a layout so that employees can reach to work on time. It can be evaluated that all these resources helps firm in developing effective relationship among customers through satisfying their needs. However, physical resources such as machines assists in implementing innovative technology of receiving cash and providing bill to clients helps in reducing the queue of clients at the cash counter.

However, in order to implement such physical resources it requires huge investment so that customers can be satisfied and attracted.

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FOR Instant Essay Writing KINDLY CONTACT AT: help@instantessaywriting.com In the process of physical resource requirement it is as follows

Firstly, a firm make an assessment of the need of physical resources which is required in the firm.

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After finding out the needs of resources, company make a review on stock or materials available or not.

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With that they develop a plan to make a budget for procuring resources in an effective manner (Boxall and Purcell, 2000).

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If the proper resource in not available in the market than any alternative can be chosen which could help in fulfilling the need.

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Then placing an order for resources which is required for developing the products.

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In final step, monitoring and controlling is done which ensure that the quality which was procured are good or not, and assessing the time as well.

ACTIVITY 3: MARKETING 4.1 Contribution of marketing activities in achievement of M&S objectives Marketing activities help company in achieving its objectives. In order to attain the goals and objectives of the firm, business have to plan a powerful marketing activities which could attract customers for buying their products (Homburg, Kuester and Krohmer, 2013). For example; M&S needs to make a marketing plan which could contribute to the success of business and achieving targets. The marketing activities such as promotion and advertisements must be done by the firm by using different mediums like online advertisements, newspaper, etc. these mediums can be chosen according to the targeted customers. Thus, 4Ps strategies can attract more customers and helps company in attaining its goals. The strategies made can be based on actual behaviour pattern of customers and business rivals as because marketing activities are inclined to predict market trends and inherent risks. It provides high value added services to customers. The marketing activities in M&S, urge the workforce to understand what value their customers desires and with that drive them to be committed in delivering that services. This helps them to be highly concious about the target market and focusing on fulfilling the needs of customers.

4.2 Evaluate marketing operations in M&S According to (Arnould, Price and Zinkhan, 2002), it can be said that marketing operation function is emerged because of the need for more efficient and accountable view of marketing in M&S. The main purpose of marketing operation is increase marketing efficiency and the organisational agility. Thus, it is important for cited firm to have a proper marketing operation Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

function or to make changes in past marketing activities. So that company can gain more competency in a retail market. Proper planning and budgeting will help in expanding its marketing operation worldwide and attain goals. Further, M&S have to follow such a method of marketing which could help in gaining the popularity of the products. It can be evaluated that M&S is required to carry out effectual marketing operations so that they can improve its efficiency and attain growth objectives. For this firm is required to carry out effective marketing tactics and thus expand the operations of firm in market. However, it results M&S to obtain high investment as marketing requires huge team to develop strategies and attract customers. Also, it is essential because business is required to give tough competition to rivals and attain desired targets.

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FOR Instant Essay Writing KINDLY CONTACT AT: help@instantessaywriting.com 4.3 Process that M&S uses to develop its markets It can be assessed that M&S is required to undertake business development process that helps them to develop and implement growth opportunities within firm. However, with the help of such type of process it assists business to gain long term value and enhance customer base and market share. Moreover, market development process is crucial in order to identify the target market and improve sales and profitability. Also, business is required to adopt effective communication process so that they can develop its market and attain results. M&S uses process Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

which help firm in developing its market over the whole world. The company uses following marketing process: 

M&S establish the market development target.

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The company than identify the target market where the product is to be launched (Cravens and Piercy, 2008).

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Detail research is made on the tastes of the customers and according the product is launched.

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For minimizing risks, M&S try to give franchise to local people of that particular region.

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In all these steps company always train their employees to develop new skills, this help in catering the needs of the customers (Best, 2009).

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According to annual business plan, they forecast their sales and ensure business growth.

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In last step, monitoring and controlling is done which help in ensuring the employees performance and the product development. They check whether the products are properly placed in the stores.

ACTIVITY 4: INFORMATION SYSTEM MANAGEMENT 5.1&5.2 Role of Information System Management in achievement of objectives of M&S Information system is mainly responsible for wide variety of communication and connectivity which enhance productivity, turnaround time and deliverables (Laudon and Laudon, 2004). It can be said that information system management effectively contribute to the in achievement of objectives of M&S. ISM is the means of effective and efficient coordination between all the department, access to relevant data and documents, use of less labour, improvement in techniques of management, day-to-day assistance in department and closer contact with rest of the world.

ISM is a computer based system which converts data from internal and external sources into information and then communicate that information to managers at all levels of the cited firm. It also helps organization in identifying its strengths and weaknesses through generation of Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

employee appraisals report, revenue report, total sales and any other data which help in analysing and improving the business process (Premkumar, 2000). It helps in understanding the customers' behaviour, market trends and also making in future prediction of sales and revenue generation in the firm. The major role of ISM are as follows: 1. Assists in decision making process: It is used to secure data which are used for evaluation and analysis which is a need for quality strategic decisions. It assists management of an organisation in making routine decisions and serve as a strategic weapon to gain competitive advantages. With the help of such system it helps in making effectual decision within business. It also helps in developing strategic decisions so that competitive advantage can be attained.

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FOR Instant Essay Writing KINDLY CONTACT AT: help@instantessaywriting.com 2. Comprehensive database for information: The information system is the primary source for storing sophisticated data in an organisation (Dhillon and Backhouse, 2000).

Financial reports when made by M&S are secured in information system so that no outsider could carry out the information. It also assists in storing the data of workers and customers within software and thus business can use it whenever required to contact customers and enhance sales.

3. Streamlining business processes: Information system helps employees in providing high level of performance and removing repetitive works. Unnecessary activities are also Toll Free No:+1 2139295632 E-mail: help@instantessaywriting.com Looking For Essay Writing Service In USA? Instant Essay Writing Provides best online writing solution at Cheap Price.

eliminated due to information system management. These methods ultimately contribute to project planning, implementation and monitoring. However, such system also helps M&S to overcome issues and eliminate unnecessary tasks so that best results can be attained. On the other hand, it requires investment to maintain the process effective within firm and attain results.

5.3 Processes used to plan IS requirement in M&S

Illustration 1: Information system requirement (Source: Peterson, 2004) The following three stages can be used to determine the requirement of information system for M&S. ďƒ˜ Business System Planning (BSP): This will help M&S in identifying the information system priorities and focuses on the way the data is maintained in the system. It also defines the data using different matrices to establish relationship among businesses, its processes and data requirements. It can be evaluated that such system helps M&S to maintain proper data and use it whenever required. For instance, it can be used by firm in order to gain the old record of employees and customers to achieve efficiency.

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ďƒ˜ Critical Success Factors (CSF): the requirement of information system can be analyzed by this factor which identify key business goals and objectives of each manager and business too (Doyle and Stern, 2006). It looks after the success factors and measure the effectiveness of the same. Further, it becomes an input for analyzing information system requirement. Here, such system is implemented in order to obtain success factors and evaluate different information systems so that success can be attained within M&S. ďƒ˜ End/Means (E/M) analysis: It identifies the output or services provided by business processes. After than it will describes the factors that is generating the outputs. At last it selects the information needed to evaluate the effectiveness of outputs. This method will help M&S in determining the effectiveness criteria for output and efficiency criteria for process generating input. On the other hand, such method helps business to gain efficiency so that best information and knowledge can be selected for further evaluation and gain positive outcomes.

CONCLUSION From this report it can be concluded that management of resources is an important aspect in an organization. Strategic resource management is important for business as it helps in maintaining resources which is required to attain the objectives of the firm. M&S company have to analyze the different resource requirements in the firm. The physical resources which is required are materials, equipment, vehicles, building etc in order to attain the objectives of the firm. It also describes the contribution of all the resources in achievement of objectives of M&S. Further, company adopt information system management so that they can maintain the reports related to inventory, stocks, human resources etc. and thus contributing to the success of the company.

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REFERENCES Books and Journals Analoui, F., 2007. Strategic human resource management. International Thomson Business Press.

Arnould, E. J., Price, L. and Zinkhan, G. M., 2002. Consumers. McGraw-Hill/Irwin.

Barney, J. B., 2001. Is the resource-based “view� a useful perspective for strategic management research? Yes. Academy of management review. 26(1). pp.41-56.

Best, R. J., 2009. Market-based management: strategies for growing customer value and profitability.

Boxall, P. and Purcell, J., 2000. Strategic human resource management: where have we come from and where should we be going?. International Journal of Management Reviews. (2). pp.183-203.

Colbert, B. A., 2004. The complex resource-based view: Implications for theory and practice in strategic human resource management. Academy of Management Review. 29(3). pp.341358.

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