BUSS 3 (Unfinshed)

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Mind Map on BUSS 3 (Unfinshed), created by mattkiruba on 12/10/2013.
mattkiruba
Mind Map by mattkiruba, updated more than 1 year ago
mattkiruba
Created by mattkiruba about 11 years ago
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Resource summary

BUSS 3 (Unfinshed)
  1. Topic 1: HR Objectives and Strategies
    1. Human Resource Management = the process of making the best use of the business's employees so that the company can achieve its corporate goals.
      1. External Influences on HR objectives.
        1. Economical situations.
          1. Technological advances.
            1. Competition in the labour market.
          2. How does HR differ in a large organisation?
            1. Greater investment in training.
              1. More elaborate motivation methods.
                1. Employees may have more opportunities for career progression.
                  1. More involvement in trade unions.
                  2. HR Objective = a target the HR managers of businesses hope to achieve by implementing HR strategies.
                    1. HR Objectives...
                      1. Reduce Absenteeism.
                        1. Loyalty bonuses.
                        2. Increase labour productivity.
                          1. Minimise labour costs (Economies of Scale).
                            1. Developing skills of the workers.
                              1. Because of new technology in order to remain competitive.
                                1. Achieved by offering training.
                            2. Internal influences on HR objectives.
                              1. The corporate objectives of the business.
                                1. The firm's production strategies.
                                  1. Marketing/financial strategies.
                                  2. Hard HR Management.
                                    1. A hard approach to HR makes costs the focus of the HR department and considers workers to be a resource, similar to machines or stock.
                                      1. Advantages = Less effect on performance & Costs stay low (Economies of Scale).
                                        1. Disadvantages = Bad word of mouth, lower motivation, absenteeism & bad communication.
                                        2. Soft HR Management.
                                          1. A soft approach to HR focuses on communication and motivation. Employees are considered the most important asset of the business.
                                            1. Advantages = Increases motivation, productivity, customer service & reduces absenteeism.
                                              1. Disadvantages = Management has less control & costs more than hard HR.
                                            2. Topic 2: Developing workforce plans
                                              1. Workforce planning = a document that details how a business will implement it's HR strategy.
                                              2. Topic 3: Competitive Organisational Strcutures
                                                1. Types of organisational strategies.
                                                  1. A traditional hierarchy - describes the structure of management, from top of the company (managing directors) to the workers.
                                                    1. A - help create a clear communication line and improves motivation from the development of departments or teams.
                                                      1. D - departments will only work for themselves & difficult to adjust.
                                                      2. A matrix structure - combines the traditional departments in functional structures with 'project teams'
                                                        1. A - avoid the need for several departments to meet regularly, so reducing costs & increasing motivation among team workers.
                                                          1. D - takes time for matrix teams to get used to working in this situation & divided loyalties towards two managers.
                                                          2. An informal structure - has few restrictions and no clear hierarchy, a communication method between all employees.
                                                            1. A - brings managers and workers closer together in terms of morale & tasks may get done faster.
                                                              1. D - managers may lose support from employees & reduced morale if workers are left out.
                                                          3. Topic 5: Innovation
                                                            1. Definition: The process of turning an idea into a saleable product or service.
                                                              1. Aims on innovation.
                                                                1. 1. To develop products with unique selling points, so you can charge a premium rate + no competitors.
                                                                  1. 2. Develop better quality products, so customer service can be excelled.
                                                                    1. 3. Develop more efficient ways of producing products or services, so you can benefit from economies of scale.
                                                                  2. Topic 8: Lean production
                                                                    1. A philosophy that originates from Japan. It is the belief that firm's can be more efficient (and thus lower their costs) if they find ways of eradicating waste.
                                                                      1. Time-based management.
                                                                        1. Reducing the length of time needed to produce a product, as well as it's delivery time.
                                                                          1. A - Reducing the delivery time can enable the business to set a premium price + brand loyalty can be developed for the future.
                                                                            1. D - Reduces the chance of benefiting from economies of scale.
                                                                            2. Kaizen
                                                                              1. Constantly introducing small changes to a company over time to improve quality and efficiency + workers are the best method of improvement as they're always there.
                                                                                1. A - Less likely to take up capital, due to only small changes + motivates workers.
                                                                                  1. D - Constant improvements may put pressure among workers.
                                                                                  2. Cell production
                                                                                    1. A flow-production line split into a number of self-contained units. Responsible for certain parts of the production line (separate products).
                                                                                      1. A - Improves communication among workers, so they become more adaptable for future requirements.
                                                                                        1. D - Workers feel that they're pushed for more output + machines may not be used efficiently
                                                                                        2. Benchmarking
                                                                                          1. The process of identifying the "best practice" in relation to both products and the process by which those products are created and delivered.
                                                                                            1. The objective of benchmarking is to understand and evaluate the current position of a business or organisation and to identify all means of performance improvement.
                                                                                              1. Benchmarking process: 1. Understanding in detail of existing business' processes, 2. Analyse the business process of others, 3.Compare own business performance with others, 4. Implement the steps necessary to improve performance.
                                                                                              2. Just-in-time production
                                                                                                1. A firm that only produces what is required when required and understanding how much in quantity.
                                                                                                  1. A - It keeps stock low, so storage space is saved + less working capital is tied up in stock.
                                                                                                    1. D - Suppliers have to be very reliable + if products are faulty, then there are less replacements.
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