Human Resources Management Trends

This assignment delves into current trends shaping the field of human resources management. It examines how factors like technological advancements, globalization, and changing workforce demographics are influencing HR practices. The analysis covers key topics such as talent acquisition, employee engagement, performance management, and the role of HR in fostering a positive work environment.

PLANNING CONSIDERATIONS, UK

Table of Contents
Introduction......................................................................................................................................3
Analysis of key considerations followed by SME for evaluation of growth opportunities.............3
Maintenance of sharp focus in the market.......................................................................................4
Evaluating opportunities for the application of Ansoff’s growth vector matrix.........................5
Description as well as analysis of various methods through which organisations access funding. 7
Development of business plan and communication process towards shaping of business...........8
Ways in which small business owners can exit the business.........................................................11
Conclusion.....................................................................................................................................13
Reference List:...............................................................................................................................14
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Introduction
Innovation is an important aspect of small and medium business enterprise. The used
technology has helped SMEs to flourish and foster growth. This study sheds light on the
role of digitalization in small business. There is an attempt to analyze the key
considerations that are essential for the growth of small and medium business firms in
the UK. Business organisation in the UK lays emphasis on planning as well as
development purposes. A business plan has been made for understanding methods that
can be utilized by a company for achieving success in the market. In SME organisations
in UK planning serves as preliminary as well as basic role towards long term forecasting
of organizational development. This study lays sufficient emphasis towards evaluation
as well as discussions associated with growth opportunities for Austin Fraser Ltd. The
company has been offering consultancy services regarding IT and life science
recruitment.
TASK -1
Analysis of key considerations followed by SME for evaluation of growth
opportunities
In UK SMEs accounts for a large part of revenue. In this respect, it can be said that
small business firms are required to bring changes in their organisation by strategic
planning. There are certain considerations that are required to be analyzed while
increasing growth opportunities for small business.
An important consideration which is to be followed for growth opportunities evaluation
consists of company turnover, market share, profits sales and headcounts. Apart from
that, it is also important for analysis as well as a determination of present market as well
as business conditions. Lambini et al. (2016, p.100) mentioned that it is equally
important to ensure that core functions associated with the business are stable. Apart
from the above factors, considerations such as maintenance of sharp focus in the market
SMEs do not get comfort as well as satisfaction with its existing position and the market
segment. Baum (2015, p.210) claimed that it is the basic nature of the market to undergo
considerable change with the passage of time. It may happen that SMEs when fails to
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adapt itself to market changes falls back. It is essential for an SME to provide
appropriate consideration regarding its position an market
As mentioned by MacDougall et al. (2015, p.180) analysis as well as evaluation growth
opportunities plays an important role an evaluation of present status of an organisation.
Important consideration which are to be followed for growth opportunities evaluation
consists of company turnover, market share, profits sales and headcounts. Apart from
that, it is also important for analysis as well as determination of present market as well
as business conditions. Baum (2015, p.210) mentioned that it is equally important to
ensure that core functions associated to the business is stable. Apart from the above
factors, considerations such as
Maintenance of sharp focus in the market
SMEs does not gets comfort as well as satisfaction with its existing position an the
market segment. Navimipour et al. (2015, p.210) claimed that it is the basic nature of
the market to undergo considerable change with the passage of time. It may happen that
SMEs when fails to adapt itself to market changes falls back. It is sufficiently for a
SME to provide appropriate consideration regarding its position an market
Establishment of resilience and operation with financial discipline
An SME, as a startup is better established may be successful as well as profitable. Lack
of proper management especially from the financial department may lead towards the
downfall of any SME. Some SMEs have good attitude towards borrowing and higher
retained earnings as compared to others
Development as well as maintenance of proper size of the organisation
Boxall et al. (2013, p.25) mentioned that consideration as well as factors such as critical
mass is sufficiently important towards stability and development associated to any SME.
Failure in reaching critical mass prevents as well as holds back growth as well as
efficiency. Right sizings off SME will be sufficiently a good approach towards its
prevention and safeguarding. It is important for SME to re-evaluate structure of the
business according to the current market along with focus on new technology
accompanied with market developments.
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Approach towards productivity
It is important for any SME to offer something more in comparison to its competitors. It
may happen that a certain SME may fall short of offering certain sets of products as
well as services towards its stakeholders
Evaluating opportunities for the application of Ansoff growth vector matrix
Figure 1: Ansoff’s growth vector matrix
(Souce: differentiateyourbusiness.co.uk, 2017)
Studying figure 1, it shows market penetration strategy (MPS) associated with Ansoff’s
growth vector matrix. MPS plays an important role towards growth as well as
development. This strategy lays favourable and preferably for any small as well as large-
scale business organisation This strategy as well as approach concentration is directed
towards present as well as existing customers, customers using the services of
competitors of an organisation and clients similar to the present customers who
expresses clear needs of purchasing a certain products but will not
The main emphasis of this strategy is directed towards elevation of market share. Apart
from those initiatives is directed towards marketing promotions. This approach assures
more effective marketing practices and plays an important role in strengthening the offer
by creation of more customer value. The practices associated with Ansoff’s growth
matrix lays focus on existing resources as well as capabilities and can be thought of as
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“business as usual but on steroids”
In spite of all its advantages, it suffers from many disadvantages as well, in case of
markets associated with high market share; the opportunities for growth may sufficiently
be limited. Aggressive nature associated with MPS may sufficiently increase
competitive rivalries in the industry. This may provoke and cause price war associated
with similar competitive organisation. Battle between them may cause damages to
industry profitability. More emphasis towards increased in sufficient amount of
exposure to single product-market segment can make the business more sensitive as
well as vulnerable to future changes associated to competition. It may also be possible
for the business to become complacent coupled with ignorance of sufficient amount of
opportunities as well as threats from new products and service. Advancement in science
as well as technology has also offered solutions towards the problems of the customers
Application as well as innovation of technical considerations possesses major effects
towards improvement as well as business development. Constant approach is necessary
to be directed towards technological development along with product development.
application as well as development of technological consideration will contribute
towards appropriate traffic generation. Technological consideration may lay sufficient
emphasis towards reaching out to more users and also enable clients to reach them.
Appropriate usage of technology may also help towards assessing its present position in
comparison with its major competitors
Skills as well as talents of the personal in SMEs such as Austin Fraser LTD are
necessary to be revised as well as upgraded from time to time. This process will instill
sufficient amount of skill as well as talents towards the working personnel. It is
important to lay sufficient emphasis towards up gradation of skills and talents of
workers at Austin Fraser LTD to make it stable and able to compete with its peers or
similar organisations.
TASK -2
Description as well as analysis of various methods through which organisations
access funding
Cameron et al. (2014, p.225) mentioned that identification of sources of funding for big
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organisation as well as SMEs can sufficiently be challenging. The decision in terms of
selection of appropriate sources of finance may offer sufficient amount of challenges for
any business organisation.
Microcredit
Microcredit is basically an extension of very small amounts of loan dedicated towards
impoverished borrowers. It is basically a latest as well as scientific technology designed
towards offering sufficient amount of support towards business entrepreneurship as well
as SMEs, This method completely eliminates the inconveniences as well as hassles
associated with paper works. It help illiterate owners of SMEs as well
Seed capital
MacDougall et al. (2015, p.180) mentioned that development as well as advancement in
technology plays an important role in revolutionizing the concepts associated with cash
flows and financial transactions. It is basically the initial capital which lays emphasis
towards starting as well as the development of new business. It plays an important role
an allocation of resources from personal assets of the organisations, its shareholders for
covering initial capital expenses
Saving as well as assets
Personal savings as well as asserts in SME such as Austin Fraser LTD plays an
important role in the stability of the organisation in terms of financial sources. The costs
associated with the acquisition of resources are successfully minimised. Additional costs
such as interest costs are successfully minimised. The disadvantages associated with the
method is due to loss of assets due to losses due to business investment
Investors
Lambini et al. (2016, p.100) commented that establishment as well as maintenance of
proper relations with an investor or groups of group of investors helps in appropriate
planning as well as development. In rising of startup capital without any major risks
towards Austin Fraser LTD. The investors may act as important and active partners in
the business organisation. It may also be possible for the investors to remain silent and
act as those forms of investors whose job is to provide capital resources from time to
time and wait for maturity as well as returns of investment. In this process, major
disadvantage a relying on investors is that they occupy the certain portion of control
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over the entire company as well. It is important for Austin Fraser LTD to maintain as
well safeguard the interests of the investors
Loans from banks
Banks play an important role in offering sources of funding. The advantages associated
with the banks are that financial funding can be done effectively and within a short
period of time. In SMEs such as Austin Fraser LTD, it can successfully be able to secure
a personal loan as well as the credit line. In case of larger operations, the organisation
may offer importance to average assets such as real estate, inventory and also usingthem
as collateral for securing the loan. The major advantage associated with the organisation
is that it enables the organisation in keeping sufficient amount of cash resources and
hand. Gerner-beuerle et al. (2017, p.150) illustrated that having sufficient amounts of
financial resources will contribute as well as make up for any down period of business.
In addition to that, it may also happen that during bankruptcy or any unforeseen
circumstances, the certain portion of the capital may be lost. It helps in attending those
circumstances. The disadvantages associated in this process are associated with interest
payment as well as timely payment techniques and practices.
Sufficient analysis towards
TASK - 3
Development of business plan and communication process towards shaping of
business
Culture of Entrepreneurship
In Austin Fraser LTD, it is significantly important for policymakers to lay forward
towards implementation of conductive cultures as well as tradition whenever possible.
Impacts associated with social media can lay forward towards fostering entrepreneurship
motivation
SME and other entrepreneurship conditions
Gilson (2014, p.330) illustrated that presence of obstacles in the path of business affects
various sufficient facts towards business development. Unnecessary obstacles related to
SMEs such as taxation, social security. Labour market regulations, legislation, and
competition policy, intellectual property protection is necessary to be removed.
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Research related to OECD is necessary to be implemented for making business function
favorable. The data related to OECD clearly lays sufficient emphasis towards an
appropriate representation of unbalanced taxes as well as other factors associated with
company's policy in form of company profits and losses as well as high average tax
rates. Sufficient awareness as well as analysis and approach towards OCED plays an
important role in business development
Firm Dynamics
Improvement in terms of productivity can be achieved by proper replacement of less
productive firms. Policies must be directed such that it is able to promote sufficient
amount of scope for entry as well as exist
Finance assessment
Hansmann et al. (2013, p.100) opined that assessment to financial considerations
contributes a lot towards growth as well as the development associated to any
organisation. In important SMEs such as Austin Fraser LTD, important steps should be
directed towards offering as well as making arrangements of financial resources to avoid
problems related to financial shortages later on. Research, as well as survey on various
factors, has clearly identified a number of financial gaps associated with research an
early stages of innovation processes. Presence of sufficient amount of gaps associated
with financial considerations impacts a lot toward process of innovation as well as
techniques. In SMEs such as Austin Fraser LTD. it may be possible that lack of
financial arrangements may offer sufficient amount of hindrances during the process of
innovation. To avoid this problem, Austin Fraser LTD must lay proper emphasis
towards development of effective policies such as loans from banks, seed capital and
other associated financial programs
Technological considerations
Application as well as implementation of technology on various matters contributes a lot
towards proper growth as well as business development practises. In SMEs such as
Austin Fraser LTD, application as well as development of technological consideration
will contribute towards appropriate traffic generation. Technological consideration may
lay sufficient emphasis towards reaching out to more users and also enable clients to
reach them. Appropriate usage of technology may also help towards assessing its
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present position in comparison with its major competitors
Workforce skills
Skills as well as talents of the personal in SMEs such as Austin Fraser LTD are
necessary to be revised as well as upgraded from time to time. This process will instill
sufficient amount of skill as well as talents towards the working personnel. It is
important to lay sufficient emphasis towards up gradation of skills and talents of
workers at Austin Fraser LTD to make it stable and able to compete with its peers or
similar organisations. Important considerations such as proper programs towards
upgradation of skills by implementation of new training programs from time to time.
Implementation and compliance with present technologies will acts towards perfection.
Skills associated with the workers is necessary to be revised properly and should be
evaluated on a constant basis
Social innovations
Navimipour et al. (2015, p.210) claimed mentioned that the process of entrepreneurship
associated to SMEs is not only about profit making. Profit making is one of the prime
importances towards an SME, apart from that, it also deals with other factors.
Entrepreneurship generated from social considerations as well as social innovations
comprises of important part of a business. Sufficient initiatives, as well as approaches
such as national, legal, financial as well as fiscal framework, is important to be
reviewed and adjusted as well to meet the business objectives. In addition to that, it is
accompanied by skills as well as well as capacity development for SMEs organisations
such as Austin Fraser LTD (austinfraser.com. 2017).
TASK -4
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Ways in which small business owners can exit the business
Small-scale business owners in small scale, as well as important SMEs, often get stuck
with problems associated with the handling of business. The decision regarding the
handling of business functions is directed towards the future of the organization as well.
The decision regarding exiting present business functions depend a lot on the
stakeholders of business functions.
Selling to another SME
Business owner’s important organizations such as Austin Fraser LTD may lay forward
towards selling its business to another organisation. In this process, the seller of the
business may offer sufficient amount of finance of a certain part of the sale. The buyers
of the organisation can pay off sufficient portion at a certain time limit within its
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conveniences. This strategy offers a flexible approach and focuses towards speed
associated with the decision of sales. After determination of appropriate buyer, plan
towards future fate as well as the development of the organisation is necessary to be
ensured. Initiatives are directed towards search for new stakeholders
Merging with other organisations
Merging with other important as well, as reputed organisation helps towards growth as
well as business development. This method also ensures continuous benefits
accompanied with the development of organisational practices. It helps in continuous
process as well as development of present as well as future organisations as well
Liquidation
Liquidation is an important strategy which lays sufficient amount of emphasis toward
exiting a business. It involves selling the assets of the present organisation and shutting
it down completely. Cash and any other financial transaction if any is met by any
shareholders. The advantages associated with this process are that it ensures peace of
mind as well as satisfaction. This method suffers from disadvantages on the basis of
least cost in company liquidation.
Initial Public Offerings( IPO)
IPO process serves as important as well as effective process an existing. This process
the organisation can also be sold to the public. Business approaches, as well as
conditions, must be sufficiently right as well. Handling and selling the company to the
public is not an easy business, it depends upon various factors in reference to the
company considerations
Conclusion
Innovation as well as the development of innovative concepts as well as technologies
impacts a lot towards business development practices. In addition to innovation and
technical considerations Planning involves the first as well as preliminary step in any
activity. It is important for properly carrying as well as management of activities. It
plays an important role towards shaping and development of business as well. Business
organisation in the UK lays proper emphasis in planning as well as development
purposes. In SME organizations in UK planning serves as preliminary as well as basic
role towards long-term forecasting of organizational development. This study lays
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sufficient emphasis towards evaluation as well as discussions associated with growth
opportunities. This study lays sufficient emphasis on analysis as well as the assessment
of practices towards technical consideration for business development purposes.
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