Managing Human Capital and Leadership Doc
Added on 2020-10-04
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MANAGING HUMAN CAPITAL ANDLEADERSHIP
CONTENTSABSTRACT................................................................................................................................................1INTRODUCTION.......................................................................................................................................2TASK – 1....................................................................................................................................................2Analysis of Human resource management approaches adopted by TESCO by drawing relevant models2Guest models of HRM.............................................................................................................................3Hard and soft HRM.................................................................................................................................4TASK – 2....................................................................................................................................................5Recruitment and selection in Tesco.........................................................................................................5Recommendation for improving the process...........................................................................................6TASK – 3....................................................................................................................................................7Approach towards human resource development....................................................................................7How human resource development can be improved in Tesco................................................................8TASK – 4....................................................................................................................................................9Evaluation of classical theories of motivation.........................................................................................9Proposing a hybrid theory......................................................................................................................10TASK – 5..................................................................................................................................................11Characteristics of effective leaders’ and relevant models justifying the analysis...................................11CONCLUSION.........................................................................................................................................12REFERENCES..........................................................................................................................................13
ABSTRACT In today’s world, global competition is been regarded as the basic element that helps indefining strategies of firm, as a result of this industrial economy has been passing towards toknowledge economy. In the present age, the primary importance of every firm is total quality,which can be accomplished by successfully using the human capital. In the current businessscenario, human resource management is the necessary need. The HR department plays a verycrucial role in supplying human being as one of the main asset of the firm. They are accountablefor recruiting, orientation, performance appraisal and many other functions. In addition to this, itis vital on the part of company to address the issues related to HRM at highest level and managethe strategic decision effectively. Pertaining to this, the present research report will inform inregards with the human resource management, its scope and influencing factors and theirrelationship with the effectiveness of the organization. Further, the report will significantlyadvise on restructuring the human resource practices of Tesco so as to compete more effectivelyin the market place. 1
INTRODUCTION Talking in reference with the human resource management, it is nothing but amanagement of employees at workplace with a view to achieve the goals of the firm. The mainresponsibility of the human resource department of the firm is to recruit and select eligibleapplicant for the right job and time. They are also liable to offer proper training and developmentprogram to the new recruits, analyze their performance, motivate the workers and manage themost crucial asset i.e. human capital of the company (Hatum, 2010). Employees are beingregarded as the most crucial part and thus, maintaining good and healthy employee relations isvery necessary. The human resource department of the company is required to pay attention onselecting the people having great employability skills like motivating skills, leadership qualities,team work, flexibility as well as time management skills. With proper human resourcemanagement in place, company can gain competitive advantage. Consequently, the main aim of the present report is to advise the firm on the possibilityof restructuring of their human resource practices so as to become more effective in themarketplace. The company taken under consideration is Tesco. It is one of the largest Britishmultinational groceries and general merchandise retailer and has its headquarters in UK.Company has adopted various HR techniques from time to time to cater with the risingcompetition in the market (Tesco, 2018). Thus, the main focus of the current research study is toassess the approaches of the firm regarding managing its human capital. Furthermore, the reportwill critically discuss the recruitment and selection process of Tesco and will recommend variouspoints to improve the same process. Evaluation of the classical theories of motivation will bedone and features of effective leaders will be discussed by justifying varied models and theories. TASK – 1Analysis of Human resource management approaches adopted by TESCO by drawing relevantmodels Because of the rising competition and globalization, it is becoming essential for the firmto create such strategies that helps in making the brand image and reputation of the firm uniquein relation with the services and quality of products being offered by them. Best output of theinput can be achieved through proper management of human resource. The more the employees2
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