HR7003 Human and Financial Resources Assignment Sample
Here’s the best sample of HR7003 Human and Financial Resources Assignment, written by the expert.
Introduction
The report would be initiating and focus on optimisation of the deliveries related to HR Processes at C.D. Laskey (CDL). In the study, an overall diversification would be given on the primary HRM issues that are being faced by the firm. In addition to that, a subjective suggestion would be provided in optimising the deliveries of HR processes. Besides, focusing on the HR issues being faced and preparation and implementation of a plan would be profiled well to conduct the business study. A risk register would also be made in order to affiliate the subjective risk that the firm is facing along with its possibilities in the future.
Outline of the primary HRM issues in C.D. Laskey (CDL)
CDL is one of the well-known dairy factories existing in Svidnik, Slovakia, and is the core manufacturer of cheese, curds, and yogurt. The process through which the products, especially curd, are made is through traditional access. After the break of Brexit in the UK, the costs of all the subjects have increased leading to an advanced mode of production by owners. Introduction to robotics could be associated with future-proofing the factory.
- At least one HRM issue relating to the management of individuals
Among all the HRM issues that are being faced by the organisation, the primary ones include Warehousing Issues, logistic issues, health and safety issues, and issues of redundancy. As opined by Leroy et al. (2018), it can be said that profiling on the issues faced by organisations, HRM issues can be disruptive to the firm’s growth and development. In the case of CDL, warehousing irises can be regarded as one of the HRM issues being faced. It can be said that costs of production for the products are comparatively higher with respect to other companies of the industry.
- At least one HRM issue relating to the management of teams
Logistic issues are one of the problems being faced by the firm and it has been seen to be disruptive in the growth process. Work conflict in the logistic department has been seen in the company that has a highly impacted scenario. Besides, it can be analysed that with daisies in logistic terms, there are high chances for product quality degradation. Health and safety issues are one of the issues being faced within the organisation as internal conflict could be leading to bad relationships with the suppliers at the firm. Issues of redundancy have also been seen at the enterprise where having multiple copies of the same data in the database could create problems. Therefore all the problems are required to focus on and work upon in order to mitigate in the work process
- At least one HRM issue relating to the change management
Change in contracts is one of the HRM issues that has been faced in CDL as a change in the working practices has also been raised with questions. Change in the contracts could be influential to many employees in getting with changes in their different prospective in lives.
Proposal to optimise the delivery of HR Processes at C.D. Laskey (CDL)
The following could be the HR theories that can be recommended in optimising the HR processes delivery of CDL:
- At least one HRM process relating to the management of individuals
Strategic Contingency Theory
Strategic Contingency Theory initiates in a person being a leader and he is responsible for taking decisions as per the skills. As opined by Abba et al. (2018), Factors like politics and power play important roles in managing strategic contingencies. In the case of CDL, understanding the issues of HRM and providing a particular leader to lead the organisation could be beneficial. On the other hand, Safari and Saleh (2020) stated the effect of some outside variables on the power of organisations. In addition, with assistance to the theory, Power decisions could be able to influence departmental relationships that have been a prime issue in the logistic team of CDL.
The Warwick model
According to the Warwick model, it initiates in believing the fact that human resources would be beneficial in providing organisations a significant competitive advantage. As opined by Tiwari et al. (2019), it can be said that with the help of the model business could be assisted in order to manage their personnel efficiently in meeting the goals. The model profiles in emphasising a data-driven approach to HRM impacting people functions. On the contrary, Uysal (2020) stated that it also highlights the impact of people’s functions on the substance of the human resource strategy. In addition, with the help of the model, CDL would be able to access the issues being faced at the HRM level.
- At least one HRM process relating to the management of teams
Organisational Life Cycle Theory
It can be regarded as a theoretical pattern of phases that could be followed by an organisation in improving HRM practices. In the case of CDL, it is essential for the organisation to undergo certain steps that include planning, growth, maturity, and decline. The firm’s loopholes could be initiated by means of the implementation of origination lifecycle theory. As opined by Mitchell and Clark (2019), each phase in the Organisational life cycle is characterised by specific activities and problems. It is necessary to understand the issues properly in order to have a better environment. In addition, all systems initiate their own boundaries in order to separate them from the environment.
The Ulrich HR model
According to The Ulrich HR model, the initiation in managing HRM practices is effective in terms of organisational growth. As stated by Sarvaiya et al. (2021), the model helps in profiling actuality leading to HR functions being seamless. In addition, it helps to create a unified structure that would be further taken in delivering the values. On the other hand, Kuimet (2019) stated that model profiles create a change on competitive edge for the company leading to performance measurement as per the defined matrix. Hence the Dave Ulrich HR Model is meant to be specific to organise human resources functions.
- At least one HRM process relating to the change management
In order to optimise the issues and risks of HR processes being carried forward at CDL, it is essential to understand the ways the firm’s working takes place. As opined by El and Singh (2019), HR processes are the most validated part of an organisation to which its system working and growth is highly dependable.
Following the McKinsey 7S Change Model that would be used as an HRM process in change management:
The Hard elements are within the direct control of the management as it can be easily defined and identified. In case of strategy, in which the change taken into consideration would be able to get accepted. While structure denotes, organizational structure or the reporting pattern such as CDL. Systems denotes, day to day activities incorporated in getting back with the change issues art workplace (Gechkova and Kaleeva, 2020). Shared Values signifies superordinate goals that would be reflected in organisational culture and style includes emphasizing leadership styles and the ways it would be influential to strategic decision. The staff includes capabilities of the employees while skills incorporate employees’ skills that is evidentially included in organisational success.
Implementation plan including outline costing, responsibilities
| Proposals | Who | Time required | Issue or problem | Implementation action | Costing (£) |
| Outline costing | Nick Adisa
CFO |
4 months | More outline costing | Outline costing is required in understanding the finances and the ways it is required to be maintained | 200 for legal fees
500 for recruiting employees |
| Profiling the Responsibilities | Kehinde Adeyemi
CEO |
1 month | Less distribution of the responsibilities | Responsibilities of various works done at the workplace are important in understanding the perspectives | 1000 for recruiting officials in understanding HR management |
| Creating low-cost warehouse proportions | Chad Price COO | 6 months | Huge cost warehouses | In order to evaluate the cost, decisions on moving to a more efficient approach based on lean production methods are required | 400 for looking for best places as warehousing
300 for change of production methods for greater shelf lives |
| Workplace environment improvement | MO Hassan CLO | 3 months | Low workplace environment | It is essential to help in the betterment of the workplace environment in order to create better places for working | 100 for refreshment during weekends
300 for rewards and price moneys |
Table 1: Implementation plan
(Source: Created by author)
Risk register
| Risks | Risk description | Likelihood
1= Not likely 2=Likely 3= Very likely |
Impact | Control rating | Risk score | Mitigation |
| Dearth of Critical Skills | It refers to the shortage of skills among the industry people working. | 2 | 2 | 2 | 6 | Dealing with your biases and considering the consequences of the options |
| Behavior and Ethics | It includes the ethical proclamation making people taking place leading to a behavioural issue | 3 | 3 | 3 | 9 | Establishing strong foundations along with that building a culture of integrity |
| Violation of intellectual property | It includes using someone else’s Intellectual property without the consent of the owner. | 1 | 1 | 1 | 1 | Keeping it under scrutiny along with that double-checking of the records being kept (Balachandran and Hernandez, 2019) |
| Regulation and Compliance | It includes the possibilities of organisation’s potential exposure to legal penalties along with material loss | 3 | 2 | 3 | 18 | Starting with a risk assessment, and understanding the latest Enforcement Policies |
| Turnover | Turnover issues include the grinding down of the company’s productivity | 3 | 2 | 3 | 18 | Higher or right people with keeping records of the market rates and offering flexibility to the people |
| Occupational fraud | The risk of loss resulting from an inadequate internal process, person, and system | 1 | 2 | 1 | 2 | Understanding the employees and the stakeholders who the dealing has been carry forwarded (Petersen et al. 2018) |
Table 2: Risk Register
Analysis
From the above, it can be analysed that the HRM practices are intended to be higher possibilities of affected company’s growth and development. In assistance to the circumstances the organisation might be facing, these proclamations are required to be focused on their impact on the growth rate with their mitigation process. It can be said that the impact of critical skills leads to High error rates, loss of opportunities, of financial resources, of relationships while in case of behaviour and ethics leads to Losing of credibility, morale, and productivity along with reputation and financial loss. In addition, violation intellectual property results in an injunction to stop the infringement and the risk of regulation and compliance results in protest of business’s resources and reputation is one of the impacts. Low turnover results to over Limited development opportunities without frequent position turnover. While in case of occupational fraud, it tremendously lead to validation server deliberate misuse of resources and degradation in the organisations’ growth.
Conclusion
From the above, it can be computed that CDL, being one of the renowned organisations in the industry of dairy, has been facing certain issues. These issues are mandatory to get mitigated in order to evaluate better prospects in the dairy firm. In addition to that, the primary HRM issues have been identified in the report and validations have been provided to the ways of mitigation. Better theories and models like Organisational Life Cycle Theory, Strategic Contingency Theory, The Warwick, and Ulrich HR model have been proposed that would be helpful in improving HRM processes. Besides, an implementation plan has been provided following up with a risk register that would validate the risks of the firm.
Bibliography
Abba, M., Yahaya, L. and Suleiman, N., 2018. Explored and critique of contingency theory for management accounting research. Journal of Accounting and Financial Management ISSN, 4(5), p.2018.
Balachandran, S. and Hernandez, E., 2019. Do institutional reforms perpetuate or mitigate the Matthew effect? Intellectual property rights and access to international alliances. Strategy Science, 4(2), pp.151-174.
El-Kassar, A.N. and Singh, S.K., 2019. Green innovation and organizational performance: the influence of big data and the moderating role of management commitment and HR practices. Technological Forecasting and Social Change, 144, pp.483-498.
Gechkova, T. and Kaleeva, T., 2020. The mckinsey 7s model in the airport system protection. KNOWLEDGE-International Journal, 42(5), pp.843-848.
Kuimet, K., 2019. The Roles and Activities of Human Resource Managers: Empirical Results from Estonia based on Ulrich’s Human Resource Model. Research in Economics and Business: Central and Eastern Europe, 11(1).
Leroy, H., Segers, J., Van Dierendonck, D. and Den Hartog, D., 2018. Managing people in organizations: Integrating the study of HRM and leadership. Human Resource Management Review, 28(3), pp.249-257.
Mitchell, S.L. and Clark, M., 2019. Reconceptualising product life-cycle theory as stakeholder engagement with non-profit organisations. Journal of Marketing Management, 35(1-2), pp.13-39.
Petersen, A., Bruwer, J.P. and Le Roux, S., 2018. Occupational fraud risk, internal control initiatives and the sustainability of small, medium and micro enterprises in a developing country: A literature review. Acta Universitatis Danubius: Oeconomica, 14(4).
Safari, A. and Saleh, A.S., 2020. Key determinants of SMEs’ export performance: a resource-based view and contingency theory approach using potential mediators. Journal of Business & Industrial Marketing.
Sarvaiya, H., Arrowsmith, J. and Eweje, G., 2021. Exploring HRM involvement in CSR: variation of Ulrich’s HR roles by organisational context. The International Journal of Human Resource Management, 32(21), pp.4429-4462.
Tiwari, V., Srivastava, S. and Kumar, D., 2019. Adoption of HRM practices: A practical model-case study of a hotel. IOSR Journal of Business and Management (IOSR-JBM), 21(4), pp.59-63.
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