Managing a Successful Business Project

Managing a Successful
Business Project

Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY...................................................................................................................................3
TASK 1............................................................................................................................................3
P1 Aims and objectives of selected organisation.........................................................................3
P2 Performance management plan. .............................................................................................4
P3 Gantt chart and work breakdown structure in order to complete the project..........................6
TASK 2............................................................................................................................................6
P4 Describe quantitative and qualitative methods in order to achieve the organisation goals and
objectives......................................................................................................................................6
TASK 3............................................................................................................................................9
P5 Research and data with using appropriate tools and techniques.............................................9
P6 Recommendations.................................................................................................................16
TASK 4..........................................................................................................................................17
P7 Reflection..............................................................................................................................17
CONCLUSION..............................................................................................................................18
REFERENCES:.............................................................................................................................18
Books & Journals:......................................................................................................................18

INTRODUCTION
Talent management is a process that used by companies in order to retain their skilful and
talented employees in the organisation. Every company considered talent management is the key
component of success and growth of organisation. Talent management is not only concerned
with retaining of talented employees but also it performs all functions of HR. As talent
management is attracting, developing, motivating and retaining high skilled employees. It is very
important for every company because as per the current scenario of business environment, it is
analysed that day to day competition get rises. Due to the dynamic and competitive business
environment, company needs high skilled labour so that they can use their productivity and
efficiency to compete with their competitors and take a competitive advantage. It is not easy so
that's why company needs strategies of talent management which helps in in reducing the
complexity. In this context, Burberry is undertaken for this report. Burberry is the fashion
multinational company of UK. It deals with fashion designing and distribution of clothes to
public. Burberry has headquartered in London, England. This report shows important strategies
which used by organisation in order to retain their high skilled employees.
MAIN BODY
TASK 1
P1 Aims and objectives of selected organisation.
Talent management is very necessary for an organisation's success and growth. For that
purpose, organisation need to make best strategies in order to cope with the challenges and
problems that faced by organisations (Kremer, Villamor and Aguinis, 2019). This report is
conducting a research which assistant identification and realisation of strategies that overcomes
challenges such as employee’s turnover ratio, productivity and profitability.
Research title: “The best strategies of talent management in order to retain and attract
skilled employees in organisation.”

Research aim: “To study the best strategies which assistant reducing employee’s
turnover ratio and attracting skilful employees in an organisation.”
Research objectives
 To determine the concept of talent management.
 To determine the importance of talent management in the success and growth of
organisation.
 To identify the challenges that faced by companies in order to retain their employees.
 To investigate the strategies which assist in retaining and attracting employees of talent
management.
Literature review
According to Kretovics and Eckert, 2019, Talent management is the process and which
organisation performs all activities related to retaining their skilful employees. It is not just
related to retaining but also is concerned with attracting skilful employees. Talent management is
very necessary for all business as it assist in achievement of organisation goal and objective. It
assists in achieving organisational objectives effectively and efficiently. It is analysed that
competition is rising at a very fast speed so organisation should take an initiative in order to
control and compete with the competitive world. It can be done with the help of adopting best
strategies which assist in retaining and attracting new and existing employees. Employees are the
key component of organisation that runs their business very well. This is the main reason that
why organisation focus on their employees strength. If they are feeling that their employees are
not satisfied that the organisation policies and culture. Then they take immediate corrective
action in order to control the situation because if they are not adopting then it may reduce their
productivity and profitability.
P2 Performance management plan.
It refers to the document in which organisation and listed all activities in order to relate
employee’s performance. It guides like a road map so that organisation can achieve their goals
and objectives. It can be done with the help of trying to increase the employee’s performance and
productivity with the standard one (Postolov, Bardarova, MagdincevaSopova and Ristovska,
2019). It is very necessary for Burberry because their employee’s strength is very high as it is
estimated to approximate 9245. So they always need to Make a performance management has
which always guide them about their real performance. Performance management plan involves