Contemporary Issues and HRM Theories: A Case Study of Coolco

CASE STUDY

TABLE OF CONTENTS
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
Explaining contemporary issues and key theories relating to HRM......................................1
Assessing HRM approaches in practice within a given context ............................................2
Analyzing internal and external extent of organization so that impact of various factor on
development of role of HR, strategies and practices can be formed......................................4
Proposing solutions to a specified business problem.............................................................7
CONCLUSION ..............................................................................................................................8
REFERENCES................................................................................................................................9

INTRODUCTION
Human resource management is concerned with having strategic approach that
can help in gaining appropriate level of ability in turn managing practices can become possible.
In turn era, there is higher requirement to pay attention on having execution of strategic human
resource management so that accomplishing organizational objective can be exerted. Internal
and external factors play crucial role in influencing business activities so evaluating becomes
crucial for company so that corrective course can become possible. The current report is based
on Coolco which operates in UK food retailing sector that faces several challenges due to
internal and external factors. Present report will pay attention on assessing the contemporary
issue and key HRM theories. Current study will ascertain strategic HRM approach in the given
context. It will focus on analyzing internal & external context by applying appropriate tool to get
relevant solution. This will give emphasis on providing relevant solution to the prevailing
problem.
MAIN BODY
Explaining contemporary issues and key theories relating to HRM
Contemporary issues are concerned with the problems that are current faced by
organization which influences practice sin adverse manner. Coolco is one of the organization
that operates in food retail sector and pay attention on offering qualitative products with low
price. There are several situations in business environment that has risen in the working of
company which tend to result in impacting its process (Thite, 2018). The main contemporary
issue that has influence on working of specified organization is non proper formulation of
organizational strategy that is not capable of accomplishing the objectives. There is lack of
effective formulation of policies & strategies that tend to result in creation of bad company
culture. It is one of the demotivating factor which has made employees feel insure about
processing. This has affected the employees to share low potential which outcome in arising of
complications and impacted company's market share holding position negatively. From the
evaluation it can be identified that specified organization is facing financial problems that can
affect the processing of company in longer run.
Human Resource management of the company play essential role in managing the
business activities. It becomes crucial for the enterprise to give emphasis on having appropriate
evaluation of theories so that better practices can be implemented to accomplish the objectives
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like conducting charity activities, offering good quality, maintaining significant margin with
keeping low cost pricing strategy, etc. HRM largely contribute in handling such course of action
which can lead to derive significant extent of growth & development.
HRM theories includes organizational life cycle, strategic contingency, general system
& transaction cost (HR Theories, 2021). Strategic contingency theory which is associated with
focusing on the concept articulated. It is one of the significant theory that is conducted to focus
on tasks that are required to be exerted in order to voles the prevailing problem. This is simple
model whose variables affecting power in contingency control by an organization sub unit. The
main advantage of this theory is to have higher effectiveness by leader through adopting most
important tool in workplace.
General system theory indicates how organizational success relies on synergy,
interrelations and interdependence between distinct subsystem. According to this theory every
system get affected from the environment and in business system is basically formed of
emergent behavior. In the human resource management there is need to focus on h predicting the
changing pattern of behavior so that degree of adoption to change can be identified. It is applied
to have range of equality among the prevailing situations. Transaction cost theory is part of
corporate governance & agency theory that has principle that cost rises in case of directing the
business (Peltonen and Vaara, 2018). In addition to this, concentration is provided on describing
corporate governance. This as well focuses on recognizing the effect of internal & external
transaction. It pays attention on searching & information, bargaining, decision, policing,
enforcing cost, etc so that control over transaction can be done by specified organization. On the
basis of this, it can be specified that Coolco required to have these theories which can lead to
decline risk & uncertainties regarding quality & prices.
Assessing HRM approaches in practice within a given context
Coolco is one of the food retailing company that operates in highly competitive
environment. There are number of elements which are required to be taken into consideration for
gaining depth analysis regarding the utilization particular HRM approach (Aust, Matthews and
Muller-Camen, 2020). There are different kinds of situation in which business operates and
require distinct form of approaches in turn accomplishing the needs of organization can become
possible.
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