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Important Concepts of Business Management Project

University: Warwick Business School

  • Unit No: 4
  • Level: Post Graduate/University
  • Pages 10 / Words 2500
  • Paper Type: Assignment
  • Course Code: 314MAN
  • Downloads: 0

INTRODUCTION

Business management is a broad concept that involve several aspects which are interlinked with each other and helps in accomplishing final goals and objectives in effective manner. The project highlights the various types of research based upon qualitative, quantitative and literature review from the selected article. This assignment focuses on the journal related to human resource and includes aims, objectives, methodology, findings and recommendations of each article. The quantitative research is based upon human capital management and qualitative research, literature review is based upon the internationalization procedure of the business organisation. It also draws attention on information related to foreign market process.

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TASK 1

Quantitative Approach to Research of Human Capital Management

Human capital management is a important subject that is to be considered as a research topic. Employees are the most important capital of business organisation as they align their objectives and aims with company's vision and mission to reach the set target at particular time period (Ping, Xuhong and Qingchang, 2011). The aims and objectives of this quantitative approach of research includes the importance and value of organisation's human resource, statistically reviewing of employee's performance as well as highlighting the quantitative perspective of human capital management. The study throws light on examining the organisation's human resource by applying numerous number of statistical methods. There are various type of capital that is present in single business organisation that consider relational, human and financial capital. The importance of human resource capital is generated from attitude and competencies. The attitude highlights worker's disposition to contribute their talent while working for the company and motivational level that is present in them. On the other hand, competencies focuses on characteristics like talent, skills, abilities, knowledge level and perceptions that is present in each individual. It is very much crucial to calculate the employee's value so that effective decision can be taken by management. The methodology that is inculcated in the research study is performed in two phases, first step is carried out by employing statistical means. In this human capital index is chosen and is followed by creation of measures that express the management of human resources through performing regression analysis process. These steps are further been demonstrated with indices that represent relevant data in relation to research data. First phase or step highlights several important points that include the formation of curves demonstrating fixed ratio in relation to average age of staff members that are working in the organisation. Apart from it, it also calculates the fixed change ratios related to the age of every employee showing data from the first year to 30 years and from 30 years to the average age limit (Majeed, 2013). This step also calculates the various benefits, salary in 10 years time period with the help of 2-a, 2-b curves.

There is a important concept that is included in this step that is factor analysis is devised on all the indices that is mentioned in this step and is carried out in the conditions in which principal element is above 70%. Moreover, the second phase deliver relevant data of company's performance indices by calculating important ratios like ROI, PAV(personnel Adjusted Added Value). The research study provide information about the expenditure that is classified as basic personnel and additional personnel. It has been observed that concept of human capital management do not pose the direct impact on financial structure of company and is known as “time lag”. The research is based upon financial outcomes of 5 year and 3 year average. Thus, the findings is clear after analysing several aspects of research that include around 94% of staff members of organisation retain in same business organisation for more than 4 years. On the other hand, it has been observed that salary, welfare, paid holidays structure directly contributes in enhancing the organisation's total productivity and profitability status. Japanese employees are known as most energetic and hard working and directly linked with increase in PAV. Model A-2 and A-3 are interlinked with each other thus, it is beneficial to scrutinize the human capital management system by applying factor analysis process at the end of year. It has been find out that every company have to operate in dynamic environment that keeps on changing with time hence, organisation have to keep in pace with the competition that is prevailing due to process of innovation, globalisation, technological advancement. This article is very much clear as it is depicting the knowledge of quantitative approach to human capital management and number of element that is affecting this process in several ways. There are some models that helps in calculating the behaviour, attitude of human resources so that manage could take the right decision in set time period. The new concept has been highlighted here that new graduates personnel are not at all regarded as organisation's peculiar human capital. From the company's regards it become easy and smooth to measure the failure or success of human capital management system with the help of formulated particular model in accordance to complete data information that is available with them. Therefore, employees must be handled properly so by providing them several benefits so that they could contribute to best of their potential (Shu-jun, 2012).

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TASK 2

Qualitative Approach to Research of the internationalization process of business organisation

Internationalization of organisation is a important process in which any company goes with the introduction of international involvement system. This procedure helps in developing the company with broader perspective so that their overall productivity and profitability increase at sustainable level. There are number of aspects that has to be taken into consideration while carrying out this process in through conduction of whole process in effective and efficient way. The research study highlights the process of integration, acquisition process and enhancing the commitments to accomplish final goals in adequate way. The objective and aims of research report is to examine the various factors so that model of internalization procedure is evaluated and framed. The purpose also include the way through which acquisition, integration process in relation to international market place and transactions are full focused upon generation of various policies that is developed in relation to international operations and trade. There are several models which are formulated in carry out the this strategy in conducive manner. The aim of this research study also focused upon the examining that how business organisation have to will take steps in response to imbalance condition that have been raised while carrying put the integration procedure (Liu and Wang, 2011). Market is dynamic in nature where number of changes are introduced that is of different nature and have to be adopted by the company. It has been observed that operation department is held responsible to carry out this important process of internalization in which they involve taking up of decisions that include estimating the solution to some problems that may arise in this respect. Every company always concentrates on increasing their operations and transaction so that sustainable image could be established in international market. The methodology that has been adopted in this research is based upon framework in which amount of scale operations gets increased. There are some elements that are included in their methodology is market commitment, market uncertainty, risk factor that has to be consider while making norms and regulations in relation to this process.

It is very much necessary to have complete knowledge about the market condition and situation so that various steps can be taken place. There is two type of knowledge in relation to general term and market concentrated therefore, proper steps must be framed in regards to it. There is set mechanism that is followed in this process that taken into consideration factors like market knowledge, commitment decisions and current activities in which each section that is included in the framework. The model assumes that every organisation carry out their operations to earn high profits and outcomes as well as face all type of risks that arises in various situation (Verbeke, Amin Zargarzadeh and Osiyevskyy, 2014). There are number of opportunities, threats that are present in the market therefore, have to examined properly so that proper decisions could take place. There has been some investigation that has been carried out one of the example is of engineering companies of Swedish in which it has been illustrated that there is no continuous export is conducted and proper management of subsidiaries is taken place that is present in different parts of world. The main focus in imparted on producing subsidiaries that is run through conducting of marketing function in sustainable ways so that ultimate aims and purposes gets fulfilled (Qi, Zeng and Tam, 2012). They produces different types of products that is of local, regional and national feature, there are several sales subsidiaries that are present there and have to be managed efficiently. Hence, through this research study it has been find out that every country have different economic, trading environment that directly affect the international trade and commerce process. It is the responsibility of business organisation to develop such products and services that include pricing factor and element. Thus, it is necessary to develop such model that is implemented to take such effective decisions of international trading process. It has also been concluded that there are number of means and methods that are available which can be adopted by organisation to expand the existing business in international market. Apart from it, it has also been observed that the complete market knowledge must be present with the firm so that decisions can be taken in relation to it. Experiential knowledge also play a vital role in this procedure in which market must consist of different forms and types of concepts that have ton be adopted by the organisation to take decision accordingly. It helps in creation of framework on which steps are taken accordingly and complete focus is made to grab opportunities that are present in market place. This is achieved by hiring the experienced human resource in the business organisation that include experts, higher management level that contribute their ideas in the company.

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TASK 3

Review of Literature article

According to Welch and Paavilainen‐Mäntymäki, 2014Internalization procedure assists in carrying out such process that helps in considering number of factors and than take decisions in this aspect. There are number of characterises that are contained in this process that include advertisement methods, product differentiation strategy, research & Development process, all these need to be properly managed. It has also been evaluated through comparison of internalization process of different organisation so that it procedures are developed and evaluated accordingly. According to Bratton, J., and Gold, 2012 there are number of organisation that are different from each other on several grounds that include nature, type, size and operations that are carried out by them. There are several elements that are present in business environment that affect the complete operations and process hence, have to be examined properly. Market growth is also depended on this whole process. Market activities are uncertain in nature hence, it become essential for the company to construct such strategies and policies that is directly associated with this process. Extending the scale of operations must also be one of the objective that must be included in this procedure. According to.... it is observed that personnel that are working in company demonstrates the level of company's performance in relation to their capacity to established at international level. Hence, the management must focused upon hiring experts, skilful and knowledgable candidates that can contribute to maximum of their efforts and outputs while accomplishing final purpose and objectives in set time period. Proper policies are formulated that is implemented in order to calculate any deviations that arises between standard and actual performance so that proper steps could be taken in order to remove any barriers in relation to it.

According to José Tarí, Heras-Saizarbitoria and Pereira, 2013 company can face problems in obtaining some knowledge and aspects in relation to international market place so that decision can be taken place in regards to international operations and transactions. There are respective obstacles that is faced by business organisation due to improper availability of market information, therefore it may hinder the overall growth and level of company. Changes that happens in business environment results in creation of opportunities and threats that may either foster or decline the overall performance of company. When single organisation begins to run its transaction through several subsidiaries that are present in international market than this concept is known as internalization. There are number of challenges and issues that are faced by singe business entity that is present in other market and is a difficult task to run operations in outside country. Single company have to bear challenges in relation to educational system, government policies, tax structure, industrial development process and various other. Thus, it is very much necessary to have complete knowledge about these features so that decision and whole work process is carried out while considering it. On the other hand, the concept of integration, acquisition is also highlighted that is developed to the ways through which this procedure is carried out. Apart from it, involvement in the international market is also focused easily so that decisions and steps must be taken in this section. Thus, proper efforts must be taken to carry out the market analysis in proper manner so that ultimate objectives could be accomplished. Different countries have diverse rules and regulations that have to be comply by the business organisation in order to remain for longer period of time. This is the responsibility of management to carry out the entire process in effective way so that profits could be achieved for which it is present in the market place. For instance company may face situation of economic crisis in which proper decisions must be made so that it does not create negative impact on the system. Major focus must always be done on increasing the overall impact in positive manner so that final goals could be reached (Casson, 2013).

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CONCLUSION

From the above prepared assignment it has been concluded that, business management is a important concept that involve managing number of business operations and transactions in effective manner so that final objectives could be attained in set time period. The report highlights the articles that has been taken from human resource journal and brief summary is highlighted that throws light on aims, objectives, methodology that has been used in the article and its findings or results. The literature review is based upon internalization process that is carried out by organisation system so that complete knowledge about development activity.

REFERENCES

  • Bratton, J., and Gold, J. (2012). Human Resource Management: Theory and Practice. (5th ed.). NY: Macmillan Publishers Ltd
  • Ping, L., Xuhong, G. and Qingchang, Z., 2011. Rising Wages Promote Transformation of Economic Growth Mode: Based on the Research of Technical Progress and Human Capital [J]. Economic Review, 3, p.008.
  • Majeed, A., 2013. Application of business process through talent management: An empirical study. Journal of Marketing and Management.4(2). p.46.
  • Shu-jun, S.U.N., 2012. Effect of Investment in Human Capital and Physical Capital on Output Level and Economic Growth [J]. Journal of Xi'an Technological University, 1, p.014.
  • Liu, Y. and Wang, D., 2011, August. On business intelligence information technology for human resource management workflow systems. In Artificial Intelligence, Management Science and Electronic Commerce (AIMSEC), 2011 2nd International Conference on(pp. 1252-1254). IEEE.
  • Qi, G., Zeng, S., Li, X. and Tam, C., 2012. Role of internalization process in defining the relationship between ISO 14001 certification and corporate environmental performance. Corporate Social Responsibility and Environmental Management.19(3). pp.129-140.
  • Welch, C. and Paavilainen‐Mäntymäki, E., 2014. Putting process (back) in: research on the internationalization process of the firm. International Journal of Management Reviews, 16(1), pp.2-23.
  • José Tarí, J., Heras-Saizarbitoria, I. and Pereira, J., 2013. Internalization of quality management in service organizations. Managing Service Quality, 23(6), pp.456-473.
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