A Growing Small Business (Essay Sample)
You made it! You received your master’s degree in Human Resource Management, and now it’s time for you to start seeking career opportunities. At this point, you may be a little confused as to what areas you should focus on in HR since your experience may be limited. Imagine that a friend shares with you that he/she has a small but rapidly growing business which is in need of an HR department. He has asked you to be the HR Manager. Your friend mentioned that he / she previously worked with an HR consultant, but now has close to 100 employees with no definite, dedicated HR department, and really needs your assistance. Although you are nervous, you realize that it’s now time for you to show your skills and put all your years of studying into action.
Select an existing small company in an industry you are familiar with to be the basis of the small business in this case. Review the company’s structure, culture, business strategy, mission, and vision.
Write a five to six (5-6) page paper in which you:
1.Provide a brief summary, in your own words, of your selected company’s overall business strategy. Next, determine the direction you visualize the company growing within the next five (5) to ten (10) years.
oHint: Review the common business strategies of Cost Leadership, Differentiation and Focus or Niche on p. 50 of your text.
2.Design a human resource management strategy to support your selected company’s business strategy. Explain the competitive advantage of your HRM strategy.
oHint: Review the following common human resource management strategies of Loyal Soldier, Bargain Laborer, Committed Expert and Free Agent from previous courses.
3.Develop an HR Scorecard table for your selected company. Include the four (4) dimensions (i.e., financial, customer service, internal process, and learning / growth / sustainability). Next, assess the value of your proposal to the small business in each of these dimensions.
oHint: Review the video titled “Building the Human Resources Performance Measurement Scorecard” (4 min 1 s) located at https://www(dot)youtube(dot)com/watch?v=s7jltEBKk2A for additional guidance in creating an HR Scorecard.
4.Use at least six (6) quality academic resources in this assignment from within the past five (5) years. Note: Wikipedia does not qualify as an academic resource.
5. INCLUDE THE QUESTIONS IN THE PAPER
6.Format your assignment according to these formatting requirements:
a.Be typed, double spaced, using Times New Roman font (size 12), with one-inch margins on all sides; references must follow APA or school-specific format. INCLUDE THE QUESTIONS IN THE PAPER
b.Include a cover page containing the title of the assignment, the student’s name, the professor’s name, the course title, and the date. The cover page is not included in the required page length.
c.Include a reference page. Citations and references must follow APA format. The reference page is not included in the required page length.
A Growing Small Business
Human resource has evolved over time, and integration with the strategic perspective highlights how organizations align human resource with the strategic direction. Additionally, the role of recruitment in HR ensures that organizations attract individuals who fit an organization’s culture. However, at times, the potential employees may not have attachment to the company especially when the company focuses on an external orientation. The HR personnel are then faced with the problem of how to balance the recruitment needs, which are aligned with the company’s strategies. Alignment of the HR practice with strategic objectives can either be a fit between the competitive strategy and the human resource strategy (vertical) or fitting the individual human resource practices together to offer support (horizontal) (Stewart, Brown, 2011).
Porter’s generic strategies have been accepted as a framework to analyze the how different organizations utilize their business-level strategies to improve the growth prospect and ward off competition. The Porter’s generic strategies framework focuses on the cost advantage and differentiation as the two elements which are the basis of a company’s strength (Sehgal, 2011). The ability of accompany to position itself determines how it competes in an industry. The cost advantage related cost of producing goods and services, the differentiation originates in the value of a product or service (Sehgal, 2011). Each firm develops an advantage by focusing on the competitors as well as the market environment, and the benefits of choosing one strategy over another. There are other theories on strategic management highlighting different aspects of competition, but Porter’s generic strategies are still relevant to understand how the small and medium sized companies use competitive strategies.
Stamps com inc (STMP), is a small company with 250 employees, and was founded in 1996 and it is in the internet & catalog retail (Robehmed et al., 2014). The company has relied on the focus strategy and has expanded over time. Since the range of services is narrow, the focus strategy ensures that the company can compete more effectively compared to the few competitors. The company is also expected to grow over time, the administrative section of the company will be necessary even as the privately held organization is unlikely to hire casual laborers. The differential focus and low-cost focus strategies are both appropriate, and using the company’s financial muscle it recoup revenue even when charging low prices.
The human resource management strategy
For an organization to get recognized as a good employer the role of strategic human resource management is important. According to Jain (2014), there is a direct link between HR plans and strategies professional, with the Hr interventions being mutually supportive. On one hand, the startup companies may not grow may seek to hold onto the best talent, but on the other they are typically looking for growth and more likely to seek better opportunities. Emphasis on employees is another important aspect when deciding on the best human resource practice in light of the company’s strategies and competition. The internet and catalog industry is increasingly competitive, and gaining a competitive edge ever the competitors ensures that the company’s performance over time improves.
In order to build strength through human resource, then it is necessary to undertake a training program to improve the production process at the organization. The rationale for this is that it will ensure that the products will be distributed safely and maintain high quality. The training may include the use of group acti...
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