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Sample on strategic resource management

STRATEGIC RESOURCE

MANAGEMENT

By


Sample on strategic resource management

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.

Delivering high quality goods with reasonable prices.

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

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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.

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.

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.

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.

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.

During interview a specific questions are asked to know the capability of an individual

for the required position.

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.

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.

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).

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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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

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Sample on strategic resource management

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

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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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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.

After finding out the needs of resources, company make a review on stock or materials

available or not.

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.

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

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

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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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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

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

marketing process:

M&S establish the market development target.

The company than identify the target market where the product is to be launched

(Cravens and Piercy, 2008).

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

launched.

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

In all these steps company always train their employees to develop new skills, this help in

catering the needs of the customers (Best, 2009).

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

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

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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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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

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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.

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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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.

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.341-

358.

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