Human Resource Management - Marks and Spencer Assignment
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Added on 2021-01-02
Human Resource Management - Marks and Spencer Assignment
Added on 2021-01-02
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Table of ContentsINTRODUCTION...........................................................................................................................3TASK 1............................................................................................................................................3P1: Functions and purpose of HRM and application of workforce planning.............................3P2: Strength and weakness of different methods to selection and recruitment...........................6TASK 2............................................................................................................................................8P3: Benefits of HRM practices for both the employee and employer........................................8P4: Effectiveness of different human resource management practices.......................................9TASK 3..........................................................................................................................................10P5: Importance of employee relations in respect to influencing HRM decision making ........10P6: Key components of employment legislation and its impact on HRM decision making ....11TASK 4..........................................................................................................................................11P7: Application of human resource management practices in work- related context...............11CONCLUSION..............................................................................................................................14REFERENCES..............................................................................................................................152
INTRODUCTIONThe business environment means all of the external and internal factors that affect theorganization functions which include employees, customers, management, supply and demandand business regulations. The success of every business depends upon adapting itself to theenvironment within which its functions. The business environment helps the company todetermine the opportunities and threats, giving direction for growth, image building around theworld. The factors which affect the environment of the business are internal and external (Lee,Olson, and Trimi, 2012). The internal factors include plans and policies, human resources,financial resources, etc. whereas the external factors include the customers, competitors,suppliers, political, etc. MARKS AND SPENCER COMPANY which was established in U.K.which deals in manufacturing food products, clothing along with the household needs products isselected for the purpose of this report. This report also includes different scope and size of theorganization along with the functions and structure of it. SWOT & PESTLE analysis are used toidentify the strengths and weaknesses of the company along with evaluation of differentenvironment in the foreign countries which impact positive and negative impact on thecompany’s business.TASK 1P1: Different types and purpose of organizationOrganizations are sets of people who work together to achieve shared goals. Everyorganization provides quality products and services to the customer according to their needs witha reasonable price. This is an only way for the organization to generate more profits and expandtheir business around the world. The organization can be various types which consist of public,private, and non- profit organization who operated their business operations in different ways.Such type of organization is explained briefly below:Private organization: The private organization refers to any individual, partnership,association, corporation which is not public company (Rossi, Vrontis and Thrassou, 2012). Theprivate sector is made up of companies that operate to make a profit. On private sectors thegovernment puts some restrictions that the company cannot issue their shares direct to the publicetc. For this M&S is a perfect example in this case. It is a company which is operated theirbusiness all around world. The company deals in retail outlets where they sales foods, household3
items and clothing apparels, etc. for the customer. It has 950 stores in U.K. and also has aturnover 1 billion pound. As a good customer image and also has good qualified employeesaround the world. Types of private organizations:-Partnership: A legal form of business activities between two or more persons who sharemanagement and profits. There is a contractual agreement between the parties are knownas partnership deed which contains terms and conditions regarding the partnership. Thepartners share their profits in the ratio which is decided at the time of agreement andinvest their capital in the prescribed ratios. Sole proprietorship: It is also known as sole trader, is a type of the enterprise that isowned and run by one person. The owner of the enterprise control all the functions of thebusiness entity and liable for all the debts (Pham, Segers and Gijselaers, 2013). In hisbusiness there is no partner to share the profit and loss. He is only liable for all losses andretains the profits with himself.Limited companies: In a limited company, the liability of members or subscribers of thecompany is limited by shares and by guarantee. In case of company limited by shares,shares are held by the shareholder of the company whereas company limited by theguarantee there is no shares, the company having members who acts as a guarantor. Public organization- A public organization is the organization which is controlled andmanaged by the government authority of that country where it is establish. The public companycan issued securities directly to the public with the help of IPO and raise their funds. Publicorganizations are publicly traded within the open market with shares being purchased by avariety of investors. Non-profit organization- A non- profit organization is one which is not driven any profits.It uses its funding to pursue a specific purpose, such as charitable cause, rather than pursuingprofits for its own benefit as a for profit business does. It receives funds from outsider of theorganization.P2: Size and scope of several organizationsAs discussed above, there are different types of organizations which have their owndifferent scopes and sizes. It includes different types of organization such as private, public andnon- profit organizations. Size refers to the different scale of operations conduct by the4
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