This report analyzes the implication of emerging technologies on Drax, the integration of two divisions, effective change management, strategic and operational management challenges, and the implication of emerging technologies by Drax. It also discusses the financial review of Drax and provides recommendations for the company.
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Running head: LEADING AND MANAGING ORGANISATIONAL RESOURCES. LEADING AND MANAGING ORGANISATIONAL RESOURCES Studentâs Name University Name Author note
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1 LEADING AND MANAGING ORGANISATIONAL RESOURCES Executive summary The purpose of this report is to analyze the implication of emerging technologies, the internet of things on the Company Drax. It emphasizes on its impact on human resource, the skills required and the operations. It analyses how the Company can integrate the two departments or divisions and the considerations and the outcomes. It discusses how Drax can effectively manage change in the Company. Further, the report also analyses the strategic and operational management challenges of leading and managing the resources of the organisation to support competitive advantage and sustainability. It examines the implications of emerging technology in managing the resources of the organisation. It identifies the challenges faced by the Company and the opportunities and its impact on Brexit.
2 LEADING AND MANAGING ORGANISATIONAL RESOURCES Table of Contents Introduction......................................................................................................................................3 Discussion........................................................................................................................................3 1.The implication of emerging technologies on Drax.............................................................3 2. Type of leadership used by the Company....................................................................................5 3. Integration of two divisions.....................................................................................................6 4. Effective change management by Drax.......................................................................................6 5. Strategic and operational management challenges......................................................................7 6. The implication of disruptive and continuous innovation...........................................................8 7. The implication of emerging technologies by Drax....................................................................9 8.Financial review of DRAX..........................................................................................................9 Conclusion.....................................................................................................................................10 Recommendations..........................................................................................................................10 References......................................................................................................................................12
3 LEADING AND MANAGING ORGANISATIONAL RESOURCES Introduction Drax Company is the largest fired power station, and it is also considered to be the largest biomass power station. The Company Drax has performed well in its previous years. However, it has analyzed that the Company has lost its market share from being a leading position. Therefore the managers and the directors of the Company rethink the strategies and the positing of the Company. It plans to take advantage of the Internet-of-Things, Artificial intelligence and machine learning. The Company intends to become even more competitive in the market with its new panel manufacture entrants. The Company also plans to innovate its products and services, provides a better understanding of the market place and creates as well as market new products and services. The Company requires developing its potential capabilities and undertakes actions for continuous improvement and innovation.The purpose of this assignment is to analyse the implication of the emerging technology that is the Internet of Things. It mainly focuses on the impact of the emerging technology on human resource, the skills required and the operations of the Company. Discussion 1.The implication of emerging technologies on Drax AccordingtoAlvesson(2013),theemergingtechnologiesintheworlds,are revolutionizing the world as a whole of work, how the organisations functions and operates, how the organisations manage the change and evolve its ways.The nature of leadership, the roles of the managers and professional careers have advanced due to the emergence of new technologies in the organisation. The advent of the internet of things and the latest emerging technologies
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4 LEADING AND MANAGING ORGANISATIONAL RESOURCES integrate the elements of business, commerce and industry in all the departments of Drax. However, asmentionedby Anderson et al. (2014), variouschallengesare facedby the organisation due to the emerging technology in the organisation. Previously, the Company lacked the required expertise in-house. Therefore it partnered with some of the academics at the University of Bedfordshire (U.O.B.) and the academics at the computer science technology (C.S.T.). This helped the Company to gain access to the leading knowledge about artificial technology (A.I.), Internet of Things (I.O.I.). It was mentioned by Anderson et al. (2014), the various evolution of technology has led to the establishment of a centralized dashboard. According to Center(2015), the new emerging technologies in the world changes how the human resource department can contact the employees, analyze the performance of the employees and the store the files.Therefore, it can be said that the emerging technologies and the artificial intelligence can make work easier for the Company andprovideinformation adequately and promptly to the employees so that they can get the overall picture. The Internet of Things improves employee experience. 2. Type of leadership used by the Company According to(Dastbaz et al.2016),the leadership style that is implemented by the Company is the transactional style of leadership with the use of rewards and punishments. The Company maintains strict discipline in the workplace.The goals and objective of the Company are achieved by the employees of the organisation within the assigned time by the higher authority. The employees are rewarded upon better performance and are given penalties and punishment if there is any misconduct by the employee of the Company.To facilitate the change management in the Company, it can engage in external consultation and provide opportunities
5 LEADING AND MANAGING ORGANISATIONAL RESOURCES for training and development for the employees. Technological aspects orient the goals and objectives of the business organisation.However, the Company can improve the stability and the performanceoftheemployeesbyimplementingbothtransactionalandtransformational leadership style in the workplace. The leaders of the company need to develop the strengths of the company and take steps to incorporate change in an effective manner. 3. Integration of two divisions The coordination and integration of the departments in the organisation require the team members to have a holistic approach towards the project, and they need to have a common objective and goals to fulfill(Dastbaz et al.2016). The common goal and purpose must be achieved by having a cross departmental meeting before the initials of the project. According to Center(2015), the managers and the higher authority must invite a leadership team to join a conversation and have a shared vision. The Company, to integrate the two divisions needs to integrate the internal and the external factors concerning the organisation. The companies can make emphasis on continuous growth and expansion with the use of internal knowledge and skills along with integrating it with the changing external forces. It was mentioned by Anderson et al. (2014), Drax needs to integrate the business activities of the departments and the divisions in the organisation for the smooth running of the business organisation. It needs to support ecological sustainability by incorporating the activities of the organisation, along with the external factors affecting the business. Human resource management The team of human resource management deals with the employees and the contractors. The employees and the contractors are considered to be the key asset of the business. They keeps
6 LEADING AND MANAGING ORGANISATIONAL RESOURCES their focus on creating a diverse and highly inclusive workplace. It promotes safe and supportive workplace(Dastbaz et al.2016). they value the people while driving the performance of the organization. The strategy of Drax is to develop the skills and talent of the people. 4. Effective change management by Drax To effectively manage change in the organisation, it needs to have a focus on corporate governance with an emphasis on IT governance. According to GarcĂa Acuña 2014),the Companycan implement agency theory. It implies building an agency relationship with the owners and managers. Thetransactional cost theoryviews the Company as the governance structure. This would help to align the interests of the owners of the Company, along with the potential shareholders. Thestakeholder theorytakes into account a wider view of the constituents instead of concentrating on the stakeholders. The change in the organisation needs to be in alignment with the business goals and objectives, and Drax can conduct a critical review about the performance of the organisation and carry out the business in the right direction. This will enable the Company to determine the value of change, which in turn will quantify the efforts of the Company.Moreover, it was mentioned by Anderson et al. (2014), the Company can develop a communication strategy, to effectively communicate it with the employees of the organisation. According to Dastbaz et al. (2016), it can implement thestewardship theorywhere the managers are predisposed to incorporate actions for the best interest of the stakeholder groups and stakeholder. This will help the Company to incorporate proper corporate governance and facilitate change in the Company. Strategic planning needs to be incorporated by the company to facilitate change. The changes incorporated in the organization must meet the existing need and future requirements of the
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7 LEADING AND MANAGING ORGANISATIONAL RESOURCES company. It needs to incrementally change the process. It can focus on making small changes with consistent efforts of the management. Thus changing the strategic requirements of the company will facilitate better performance. 5. Strategic and operational management challenges According to Khanagha et al. (2013), there are various challenges and issues faced by Drax are concerning the strategic and operational management. The Company also faces challenges regarding managing the organisational resources, which supports the competitive advantage. The Company also struggles to find adequate talent and provide sufficient training to the employees of the organisation. The motivation among the employees is low as the salary, and the wages provided to them are competent enough, which in turn creates dissatisfaction among the employees. This hampers the productivity of the organisation.Therefore, it was mentioned by Anderson et al. (2014), the Company can replace human labour with advanced and emerging technology. The Company is in a position to change how it operates. This implies that the Company can bring necessary changes in the organisation and implement a new strategic plan which will enable the Company to facilitate change and improve the performance.This way, the Company can manage and lead its financial resources efficiently. Capabilitiesandknowledgemanagementisasystematicprocesswhichrequires collecting, storing, distributing and enhancing the skills and knowledge of the employees in the correct manner. Drax needs to put the right knowledge with the right people and at the right time. There is a need for the company for enhancement, proper utilization and sharing of the right
8 LEADING AND MANAGING ORGANISATIONAL RESOURCES knowledge and capability. It is a continuous process and important for the constantly changing environment. This will help to improve the performance of the company and incorporate change. 6. The implication of disruptive and continuous innovation According to Kuula and Haapasalo (2017), Continuous and disruptive innovation implies continuous improvement, which includes changes the platforms and initiating various change programs.The continuous improvement requires the organisation to encourage intelligent risk taking, cross departmental collaboration and integrating, strong leadership management in the organisation. Continuous and disruptive innovation includes improvement in products offered, the process and procedure of managing the resources and the employeesâ talent, performance in the Company, which can result in a new dimension of organisational performance. According to Alvesson (2013),Drax needs a leadership process which involves transforming the structure of the Company. It needs to initiate training and development programs for the employees so that the performance is improved. Managing change and innovation in the Company must be a continuous and ongoing process. It can be said that improvement and innovation is a constant source of ensuring and building a competitive advantage. According to GarcĂa Acuña (2014).the resources of the organisation must be allocated appropriately to ensure that the change and innovation in the organisation can be implemented appropriately. The new strategic plan will provide the Company with a framework for identifying the opportunity and seek organisational performance excellence. The operations management of the business needs to create high level of efficiency in the company. The operations team is associated with converting the materials and labour and turning them in goods and services in an efficient manner. The operations team in the organization needs
9 LEADING AND MANAGING ORGANISATIONAL RESOURCES to balance the costs of manufacturing as well as the profit in order to achieve high net operating profit. The operations team must be efficient enough to utilize the existing resources from people, materials, technology and equipment. 7. The implication of emerging technologies by Drax According to Lin, Abney and Bekey (2014),the new emerging technology, the internet of things is used by the Company. The internet of things can be used to improve the decision making of the organisation. With proper implementation of the organisation, it can understand the needs and requirements of the potential stakeholders of the Company and this will enable the Company to address to the needs and manage the resource of the organisation appropriately. The internet of things will improve the tracking and monitoring the resources of the Company including the types of equipment, tools and machinery with the use of sensors and connectivity which will help the Company to manage and lead it efficiently.Moreover, According to Tosoni (2018), the internet of things connects the devices with the internet which enables the Company to deal with the real time operational insights in a proper manner, and this also reduces the operating costs of the Company. However, As mentioned by Khanagha et al. (2013), a lack of proper I.O.T. knowledge and skills is a cause of concern for the Company and is also a challenge for the Company.The required skills include knowledge about business intelligence, UX Design, U.I., hardware engineering and network. In order to incorporate ambidexterity, it needs to maintain a balance between exploration and exploitation. It must have the ability to exploit the existing competencies of the company while exploring new opportunities. It needs to adjust its imbalance in order to be more agile with
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10 LEADING AND MANAGING ORGANISATIONAL RESOURCES the emerging technologies in the company (Alvesson 2013). It has to be extremely responsive to the changing business environment. 8.Financial review of DRAX According to Alvesson (2013), as per the financial report of Drax and the balance sheet, it has been analysed that the overall debtors have increased from 2017 to 2018. This shows the increase in the profitability of the Company. The total number of creditors increased in 2018. The total capital and the share capital of the Company have increased. From the balance sheet, it is evident that the Company is current having no depts, and it is in a position where it can borrow from the financial institutions to implement new emerging technology and offer to the employees with training and development facilities with the support of the government. According to GarcĂa Acuña (2014).the Company is in a position where it can increase its finance and revenue streams. This will further increase the profitability of the Company. Conclusion Therefore from the above analysis, it has been identified that the Company is in a position where it can borrow funds. As per the balance sheet of the Company and the financial report provided, it indicates that the Company does not have any depts. With the support of the government, the Company can implement new emerging technologies in the workplace. Further, the Company can encourage creativity and new ideas in the workplace. It can enable DRAX technology and services to undertake innovation efficiently. The Company can implement theories like stakeholder theory, stewardship theory, and agency theory to build a better relationshipwiththepotentialstakeholdersoftheCompany.Ithasbeenidentifiedthat
11 LEADING AND MANAGING ORGANISATIONAL RESOURCES implementing the approaches can improve corporate governance and I.T. governance. The report has provided recommendations to improve the performance and profitability of the Company. Therefore it has been recommended to regain the market share by gaining back its position. Lastly, it reviews the financial report given by the Company. Recommendations It is recommended that the Company implement business intelligence in an appropriate manner. It can build upon business intelligence, knowledge management and information system.According to Alvesson (2013), The internet of things, artificial intelligence can be , which would positively impact the operations of the business, the human resource practices of Drax. Further, as mentioned byRothaermel (2013), theories such as the stakeholder theory can beimplementedbytheCompanytoorganisetheactivitiesoftheCompanyatamore comprehensive view of the constituents. The agency theory will help the Company to build a relationship and better delegate responsibility to the managers. The Company can implement these theories for the better interest of the stakeholders, and it will help the Company to incorporate corporate and I.T. governance. The funds of the business need to be allocation efficiently,anditcandeveloppartnershipsandcollaborationsforthebettermentofthe Company. Moreover, it is recommended that the Company can encourage creativity and new ideas which can lead to innovation.
12 LEADING AND MANAGING ORGANISATIONAL RESOURCES References Al-Fuqaha, A., Guizani, M., Mohammadi, M., Aledhari, M. and Ayyash, M., 2015. Internet of things: A survey on enabling technologies, protocols, and applications.IEEE communications surveys & tutorials,17(4), pp.2347-2376. Alvesson, M., 2013.Communication, power and organisation(Vol. 72). Walter de Gruyter. Anderson, A.A., Brossard, D., Scheufele, D.A., Xenos, M.A. and Ladwig, P., 2014. The ânasty effect:â Online incivility and risk perceptions of emerging technologies.Journal of Computer- Mediated Communication,19(3), pp.373-387. Center, S.E.L., 2015. Carbon Emission Estimates for Drax biomass powerplants in the U.K. sourcing from Enviva Pellet Mills in U.S. Southeastern Hardwoods using the BEAC model. Da Xu, L., He, W. and Li, S., 2014. Internet of things in industries: A survey.IEEE Transactions on industrial informatics,10(4), pp.2233-2243. Dastbaz, M., Arabnia, H. and Akhgar, B. eds., 2017.Technology for smart futures. Springer. Dempster, M., 2016. Participatory Change Management: A Transformation Strategy for the Physical Work Environment of Tomorrow. GarcĂa Acuña, M.I., 2014.The emergence of strategic direction, organisational structure and employeeintegration:aframeworkfortheDialecticOrganization(Doctoraldissertation, Massachusetts Institute of Technology).
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13 LEADING AND MANAGING ORGANISATIONAL RESOURCES Khanagha, S., Volberda, H., Sidhu, J. and Oshri, I., 2013. Management innovation and adoption of emerging technologies: The case of cloud computing.European Management Review,10(1), pp.51-67. Koskela-Huotari,K.,Edvardsson,B.,Jonas,J.M.,Sörhammar,D.andWitell,L.,2016. Innovation in service ecosystemsâBreaking, making, and maintaining institutionalised rules of resource integration.Journal of Business Research,69(8), pp.2964-2971. Kuula, S. and Haapasalo, H., 2017. Continuous and co-creative business model creation. InService Business Model Innovation in Healthcare and Hospital Management(pp. 249-268). Springer, Cham. Lin, P., Abney, K. and Bekey, G.A., 2014.Robot ethics: the ethical and social implications of robotics. The M.I.T. Press. Mihardjo, L.W.W. and Furinto, A., 2018. The Effect of Business Alliance and Innovation ManagementonSustainableCompetitiveAdvantagesforIncumbentTelecommunication Companies in the Distruptive Era.Advanced Science Letters,24(1), pp.260-263. NICK,G.,PONGRĂCZ,F.andRADĂCS,E.,INTERPRETATIONOFDISRUPTIVE INNOVATIONINTHEERAOFSMARTCITIESOFTHEFOURTHINDUSTRIAL REVOLUTIONAROMBOLĂINNOVĂCIĂĂRTELMEZĂSEANEGYEDIKIPARI FORRADALOMOKOSVĂROSAINAKKORSZAKĂBAN.THECENTRALEUROPEAN JOURNAL OF REGIONAL DEVELOPMENT AND TOURISM, p.53. Parts, S.P., Drax Power Station Supporting the future of the business with up to GBP5 million in operational cost savings.
14 LEADING AND MANAGING ORGANISATIONAL RESOURCES Platt, D., Workman, M. and Hall, S., 2018. A novel approach to assessing the commercial opportunities for greenhouse gas removal technology value chains: Developing the case for a negative emissions credit in the U.K.Journal of Cleaner Production,203, pp.1003-1018. Rothaermel, F.T., 2013.Strategic management: concepts. New York, NY: McGraw-Hill Irwin. Tosoni, I., 2018.Innovation Capacity and the City. The Enabling Role of Design. Springer Open. Totterdill, P., Driving bottom-up from the top: Leaders as enablers of workplace innovation. Veling, L., Murnane, S., Carcary, M. and Zlydareva, O., 2014. The Digital Imperative.I.V.I. White Paper Series.