Managing a Succesful Business Project

Managing a successful
business project

Contents
Section 1- INTRODUCTION..........................................................................................................3
Research aim..........................................................................................................................3
Research Objectives...............................................................................................................3
Research Question..................................................................................................................3
Section 2- Project Management plan...............................................................................................3
Work breakdown structure and Gantt chart.....................................................................................3
Section 3- Research methods...........................................................................................................3
Section 4- Findings..........................................................................................................................5
Recommendations............................................................................................................................8
Section 5-Reflection.........................................................................................................................8
Section 6- Conclusion......................................................................................................................8
REFERENCES................................................................................................................................9
APPENDIX I.................................................................................................................................10
APPENDIX II................................................................................................................................12

Section 1- INTRODUCTION
Talent management is defined as a process which is used by organization in order to attract
and retain competent as well as talented workforce within the organization. In addition to this, It
is important for an organization to understand the requirements of its staff members so that they
will retain for a longer time period (AlMannai, Arbab and Darwish, 2017). Talent management
allow business entity to develop, acquire, retain, enhance skills as well as attributes of staff
members due to which they are able to attain competitive advantage at marketplace. For the
present study, Marks and Spencer is taken into consideration. It is a UK based multinational
retailer that was established in year 1884. The report initially develop research aim and
objectives associated to talent management. In addition to this, it involve the methods and the
project management plan of present study. Furthermore, a detailed description will going to be
developed on recommendation for organization and reflection has made on the overall research
experience.
Research aim
“To analyse new initiatives and innovative ways of working that is used by organisation
to attain a strategic approach to talent management. A study on Marks and Spencer
Research Objectives
 To analyse the concept of talent management within an organisation.
 To determine new initiatives and innovative ways of talent management used by Marks
and Spencer to achieve a strategic approach.
 To examine the challenges faced by Marks and Spencer while implementing new
initiatives and innovative ways of talent management in an organisation.
Research Question
 What is the concept of talent management within an organisation?
 What are the new initiatives and innovative ways of talent management used by Marks
and Spencer to achieve a strategic approach?
 What are the challenges faced by Marks and Spencer while implementing new initiatives
and innovative ways of talent management in an organisation?

Literature Review
Concept of talent management within an organisation
As per the view point of Taha, (2018), Talent management refer as the procedure that is
used by companies for bringing appropriate talent onboard and retaining them in an effective and
significant manner. It is analyze that with the help of talent management the prominent
capabilities of staff members can be highlighted which leads to attainment of organizational
objectives (Bertrand and Hughes, 2017). The different dimensions of talent management are
career development, motivation, learning and many more. In the present time, talent management
is significant aspect as it is aligned with attaining competitive advantage.
New initiatives and innovative ways of talent management used by Marks and Spencer to
achieve a strategic approach.
According to Susane, (2020), There are various strategies and innovative ways used by
organization in order to attain strategic approach to talent management. One of the new way is
providing flexibility to staff members as it help them to maintain a work life balance in an
effective manner. In addition to this, allow participation in decision-making is also the new
strategy used by organization as it help company to make employees feel valued and important at
workplace which motivate them to remain for long run (Flick, 2018). Apart from this, there are
also other new innovative ways that is providing career opportunities, rewards and recognition,
appreciation, onboard training and many more.
Challenges faced by Marks and Spencer while implementing new initiatives and innovative ways
of talent management in an organisation
As per the view point of Meh and Tey, (2020), It is determined that there are various
challenges faced by respective organization at the time of implementing new and innovative
ways of talent management in an organazation. One of the issue is ineffective leadership that
impact on the overall functioning and activities of an organization. In addition to this, there is
increase in cost that impact negatively on the revenue of company (Greene, 2020). Apart from
this, there are also other challenges such as disagreements among employers and employee,
increase employee turnover ratio, ineffective communication and many more.