Leading and managing organisational resources
Executive summary
The overall report was based on evaluating the challenges and opportunities that DRAX management faces while operating in the UK competitive environment. It has been identified that due to DRAX traditional approach the firm loses market share as a result of which the brand status of the firm fell. Moreover, other issues were also identified such as intensive labour market along with high salary wages which were making it difficult for DRAX management to manage their human resources. Additionally, it has been noted that Situational leader in DRAX management access situation and then takes a decision that helps DRAX to achieve the highest success. Finally, recommendation has been provided in terms of improving the overall activities of DRAX management in future.
Managing organisational resources means to utilize the resources which include information, assets, human and financial resources efficiently to drive better result for the organisation.
This report intends to evaluate the essence of innovation in DRAX management, which helps the firm in remain competitive and achieve significant growth in the next 3-5 years.
The objectives are as follows.
- To evaluate the concept of organisational resources within the organisation
- To determine the effectiveness of utilizing the organisational resources that increases the productivity of the firm
- To identify the risk associated with managing organisational resources
This report will briefly explain about the changing skills required within the business form of DRAX where initially DRAX position of taking advantage of new technologies will be evaluated. Afterwards this report also briefly details about the products that DRAX management offers to the customers in terms of gaining their attention. Furthermore, the opportunities that lie in front of DRAX management which includes the Internet of things, machine learning and artificial intelligence will be explained which will help DRAX management in innovating new products and services. Moreover, this study will also clearly explain the issues that arise within DRAX management and creates challenges in terms of achieving sustainability. Role of leaders will also be evaluated during this study where the decision-making ability of the leaders in terms of resolving the challenges within the management will be identified(Bush, et al., 2019). Finally, at the end of the report, the financial position of DRAX management will be explained, where the ability of DRAX in terms of investment capital will be identified.
Evaluating the current position of DRAX management it has been identified that the enterprise works in a labour-intensive industry where the firm had to pay a competitive salary in between £ 30- £ 40k. Furthermore, the issues that have also been identified with DRAX management also includes many unskilled and lower skills employees who fail to perform the assigned job roles of the organisation. The issues that DRAX management also faces is struggling with recruitment and selection, training and development and motivating staff. Earlier the firm used to operate in the traditional industry, where the firm performed well over five years which was based on 20 years platform. Due to these issues the firm had to lose its market share from the leading position. Moreover, the issues that were faced by DRAX management are during April 2019, both the staffs of DRAX technology and DRAX services were being invited to participate in the climatic survey to understand the continuous improvement in their innovation process. However, the results showed that DRAX management was not at all supportive towards innovation, creativity and productivity.
Comprising of all these challenges it has become difficult for the management to achieve a higher amount of success. Henceforth, considering this grave situation DRAX management has taken up the advantages of using new technologies to their advantages. The management took up the decision of shifting their focus from being just a hardware/software reseller to panel installer so that they can make use of machine learning, artificial intelligence and internet-of-things. Furthermore, with the help of advanced technology the management are trying to develop their data management and analysis capability which is considered as the springboard for future growth and innovation in terms of regaining their lost market share(Steels & Brooks, 2018). DRAX management has also understood that it terms of being competitive, the firm needs to innovate a new panel manufacturer in terms of creating and marketing new products and services that bring success to them. The UK based firm has also partnered with the UK funded Knowledge Transfer Partnership in terms of innovating new products and services that can generate success for the management. Moreover, DRAX enterprise has also taken up the initiative of using the advanced technology to their use where they have innovated new centralized dashboard that can monitor and analyse all activities occurring within specific assets.
Capabilities/Knowledge management
The product that DRAX management deals with are byproducts of power products. The issues that DRAX management faced while operating in the UK business environment are lack of continuous innovation within the management. The employees of DRAX participated in the climatic survey where it has been identified that DRAX climate is not supportive towards innovation, creativity and productivity as a result of which it has become harder for the management to introduce new product or service offerings for the customers and meet their expectations. Moreover, determining the financial position of DRAX it has been identified that the firm is currently no position to invest finance towards the development of the management. The reason for the low finances of the firm is mainly because of growing financial liabilities which includes loans, from banks and other groups which also includes creditors. Similarly, due to the firm inadequacy to invest finance in terms of fostering innovation with the firm as a result of which creating new products and services become difficult for the management.
Keeping in mind the growing financial constraints DRAX management has partnered with KTP in terms of establishing new product development process that the firm applies in terms of developing the product and satisfy the needs of the customers. DRAX management has further taken up the approach of supporting innovation and creativity within the management in terms of integrating their task and comprehend actions that improve the overall performance of the management. The UK based firm has used the advanced technologies such as artificial intelligence, machine learning and internet-of-things to their advantage in terms of supporting creativity and innovation within DRAX management that improves their chances of earning high growth opportunity and success(Barr & McClellan, 2018). Moreover, in terms of reducing the risk of growing financial constraints the firm has taken some decision such as the firm has focused towards innovating their products and services with the help of machine learning, artificial intelligence and internet-of-things which helps the firm to improving the designing along with qualities within the management that helps the firm in achieving more revenue and mitigate the issue of financial(Finkler, et al., 2018). DRAX management initiative towards maintaining and managing the financials of the company also helps the firm in resolving their issue of financial constraints and achieve better results.
DRAX management faces issues while operating through their operations management where the firm earlier used to focus towards being a hardware/software reseller but the operations department of DRAX has started focusing towards being a panel installer. Moreover, it has also been identified that as the form was earlier using the traditional process, hence it became difficult for the management to increase their market share in the competitive business environment. Hence, this was the issue of the major operation that was primarily faced by DRAX management while operating.
DARX enterprise initiative towards improving the operations of the management also includes focusing towards using advanced technologies through which the firm can innovate the latest product that can satisfy the needs of the customers along with gain their trust towards the management. The management current technological advancement includes incremental changes where the firm is developing and designing new products that are entirely different from that of the competitors so that their expectation can be satisfied(Nicholas & Steyn, 2017). With the help of AI and Machine Learning, DRAX management is providing the option integrated service that includes data gathering, exploitation and analysis. The development in DRAX management’s operational efficiency has been aligned with the company’s strategic aim which the firm is trying to achieve by the end of the next 3-5 years. The operations department of DRAX has also identified that in terms of remaining competitive the firm needs to introduce products and services in terms of being ahead in the competitive business environment.
DRAX management has dedicated human resource management team who perform task towards managing the human workforce along with arranging a training module for the employees. The HR department in DRAX management faces serious issues that create challenges for management. The first and foremost issue is DRAX management works in the labour-intensive industry due to which the firm fails to pay competitive salaries of £ 30- £ 40. Moreover, it has also been identified that the firm also struggles with the recruitment and selection, training and development and motivating staffs, which fails them in achieving their set objectives within time. Additionally, it has also been identified that much of the T&D that are needed are not openly available which is also making it much more difficult for the firm to perform their daily activities. Besides that, it has also been identified that the HR manager of DRAX management also suffered from managing the human resources within the firm due to lack of training and development.
The HR department of DRAX management has taken up the decision of improving the performance of the employees working in the management. HR managers have developed and designed AI and Machine learning training module, which enables the employees to learn about the implementation and usage of the advanced technology that can help in shaping their skill as well as improving their performance(Larsen, 2017). Furthermore, the HR department of DRAX management are focused towards providing more integrated training module, where the firm is trying to mainly focus towards providing training towards machine learning, data analysis and artificial intelligence that helps them in shaping their skills and traits and increase their competency so that they can perform better and achieve high success. To resolve the issue of recruitment and selection the firm has taken up the decision of developing policies and procedures which would improve the recruitment and selection process. Improving the recruitment and selection process through advanced technology such as artificial intelligence helps the HR manager to screen and verify the academic and professional background of the employees which then provides the opportunity to select and recruit best candidate within the management(Goldstein, et al., 2017). Therefore, the role of HR management within DRAX becomes so essential in terms of providing better training facilities to the employees and improve their overall performance.
Evaluating the issues that leaders within DRAX management are facing is pressure from the management in terms of achieving the strategic aim within next 3-5 years, which for the leaders are becoming more competitive due to new panel manufacturer entrants. The leader also faces the risk of competitiveness from other business ventures as because it has been identified that to remain competitive within the leaders within the management needs to innovate, better understand the profile of its customers and harness and use advance technology such as IoT, ML, AI, etc. Moreover, it has also been identified that the leaders are facing challenges due to policies and regulations which is making it tough for the leaders to achieve success for the management. It has also been noted that leaders within the management also faces other issues which include rising conflict among the employees due to conflict of interest, which is making it tough for the management to achieve their set objectives within the specified time limit.
Leaders working in DRAX management uses situational based leadership as because before they take any decision they access the situation carefully and then take the decision that can bring a positive result for DRAX management. Moreover, the situational leader in terms of achieving the strategic objectives within 3-5 years has also taken up the idea of using the advanced technology such as AI and Machine learning that helps the firm in integrating the task systematically and perform it systematically in terms of achieving desired results and expectations.
For the same, the situational leader has taken up the approach of developing and designing new panel manufacturer that is integrated with advanced IoT, ML and AI technology that helps in increasing the brand status of the firm within its competitors (Thorpe, 2016).Furthermore, under the situational leadership, the firm has also taken up the option of partnering with KTP and CST. The partnership was a part of the strategic development where the firm is trying to develop their skills in AI, ML and digital capabilities. The operation activities that are performed with the help of advanced technologies such as ML, AI and IoT it also helps the firm in monitoring assets, digital records and secures the data warehousing for IT integrated services.
This report was based on evaluating the challenges and opportunities that are faced by DRAX management while operating in the UK business environment. As the report progressed it has been noted that the firm had to lose market share as because they were using the traditional method which lowers down the productivity by 20%. Furthermore, evaluating the current context of DRAX management it has been noted that as because the firm operates in labour-intensive industry hence it becomes easier difficult to pay salary in between £ 30 K- £ 40 K. Evaluating the current financial position of the firm it is not possible for DRAX management to invest finance within the management. The HR manager of DRAX manager has taken up the decision of revising policies and procedures in terms of improving the selection and recruitment within the firm. Whereas, the situational leader took up the decision of improving relations within the employees in terms of building teamwork and achieve success.
The recommendation for this report has been provided based on evaluating the report, the recommendation will help DRAX management to initiate changes in terms of improving the overall activity of the management.
- It has been identified that the HR department of the firm fails to recruit and select skilled employees within the management. In terms of improving their overall HR activity, DRAX management needs to redesign their recruitment process through AI technology that helps in filtering profile of candidates and recruit the best talent within the firm.
- The leaders in DRAX management face situational leadership, whereas considering the situation it becomes necessary to change their leadership style. Transformational leadership skills need to be inherited by leaders which will allow them to implement changes in terms of innovation and achieve better results for the management.
References
Barr, M. & McClellan, G., 2018. Budgets and financial management in higher education. London: John Wiley & Sons.
Bush, T., Bell, L. & Middlewood, D. e., 2019. Principles of Educational Leadership & Management. London: SAGE Publications Limited.
Finkler, S., Smith, D. & Calabrese, T., 2018. Financial management for public, health, and not-for-profit organizations. London: CQ Press.
Goldstein, H. et al., 2017. The Wiley Blackwell handbook of the psychology of recruitment, selection and employee retention. London: John Wiley & Sons.
Larsen, H., 2017. Key issues in training and development. In Policy and practice in European human resource management. In: London: Routledge, pp. 107-121.
Nicholas, J. & Steyn, H., 2017. Project management for engineering, business and technology. London: Routledge.
Steels, L. & Brooks, R., 2018. The artificial life route to artificial intelligence: Building embodied, situated agents. London: Routledge.
Thorpe, R., 2016. Gower handbook of leadership and management development. London: CRC Press.
