Resource Management - Tata Steel
Added on 2021-01-03
14 Pages4843 Words138 Views
ResourceManagement
Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................11.1Resource requirements of organisations in different sectors of economy........................11.2Key requirements relevant to resource management in organisations in different sectors ofeconomy.................................................................................................................................2TASK 2............................................................................................................................................32.1Evaluate how the use of physical resources is monitored and managed..........................32.2Evaluate the impact of resource wastage..........................................................................32.3 Assess the costs of high profile technological failures....................................................42.4 Assess the business case for the use of ethical and sustainable resources.......................5TASK 3............................................................................................................................................63.1 Assess the need for human resource planning in the workplace......................................63.2Using motivational theories, analyse what motivates people...........................................63.3 Evaluate the methods used to monitor and improve employee performance..................83.4 Assess the effectiveness of reward systems in different contexts...................................9TASK 4............................................................................................................................................94.1Monitor the use of physical resources against performance measures and procedures...94.2Analyse data on employee performance.........................................................................104.3 Report on the effective use of human and physical resources.......................................104.4 Make recommendations to improve efficiency..............................................................10CONCLUSION..............................................................................................................................11REFERENCES..............................................................................................................................12
INTRODUCTIONResources are a vital component of any organisation which supports in completingbusiness activities in effective manner. Resource management refers to the procedure ofmanaging required resources within the company in effective manner so that organisational goalsand objectives could be achieved in quick time (Jacobs and et. al., 2016). The present report isbased on TATA steels, an Indian multinational steel making organisation. The company wasincorporated in 1907 and headquartered in Mumbai by Jamsetji Tata. It has been analysed thatthis company is planning to adopt different IT tools for optimising their cost and enhancingstakeholders experience. It can be said that this adoption will also help company in improvingwork efficiency of employees as they are using latest and up graded IT tools. This report willcover up discussion on key features of resource management along with the importance ofeffective use of physical resources in the company. Further, it will provide knowledge on humanresources and how their work efficiency can be maximised. At last, it will review about theeffective use of resources.TASK 11.1Resource requirements of organisations in different sectors of economyEvery business has its different requirement of resources which are completely dependingupon their sectors. Business organisations are categorised according to three different sectorssuch as Primary, secondary and tertiary. Resources need of all these sectors are defined as below:Primary sector: This sector includes industries which are basically engaged intomanufacturing of raw material from natural resources. Primary sector is seen as very basic sectorwhich does not need any support of Hi-tech or advance machinery. It includes industries likefishing, mining, farming, forestry etc. It can be said that companies belonging to this sectorrequire resources such as human resources, equipments and some basic facilities to execute theirbusiness activities in effective manner. Secondary sector: Secondary sector mainly arrange raw materials from companiesbelonging to primary sector and then proceed collected raw material further in order to make afinished product. This sector includes manufacturing, engineering, electronics etc. Requiredresources of secondary sector is raw materials, machinery, human resource and technology.
Tertiary sector: This sector provides deep description about companies belonging toservice industry which serves other companies or customers. It includes many industries likeretail, financial services, medical sector (health care), entertainment and many others. Resourcesrequirement of this sector includes human resources, advance technology, facilities and time todeliver best quality services to customers (Brewster, Chung, and Sparrow, 2016).1.2Key requirements relevant to resource management in organisations in different sectors ofeconomyWithin corporate world, managers of TATA Steels have to manage resources inaccordance with the requirements associated with health and safety, environment, legislations,employment etc. Some of the basic requirements of TATA Steels are stated as below: RequirementsCompliance with legislation: In context to TATA Steels, it can be said that its managers arerequired to follow all laws related to workplace and employees for sustaining longer atmarketplace. Manager have to consider all some main facts which are defined as below:Health and Safety: Manager of TATA steels tries to not use any hazardous substances atworkplace which impacts negatively on the health of employees.Environmental: It is essentail for TATA Steel's manager to properly dispose their ironwaste so that it does not impacts upon environment negatively.Employment: In this, it is essential for manager to develop positive and safe environmentat workplace that helps employees to work freely in company.Code of conduct: It is considered as the set of rules and regulation, social norms, rulesrelated to society etc. for individuals. In context to TATA Steels, it can be said that its managersare required to ensure that all employees should follow code of conduct of the company. Further, to ensure effective resource management, there are certain key requirementssuch as efficient storage facilities, proper waste recycling systems, optimum ManagementInformation System (MIS) (Brewster, Chung, and Sparrow, 2016). All of these significantlycontribute towards assisting the managers and leaders within an entity to deal with the physicalresources in an efficient manner such that there is least wastage and lowest possible cost isincurred to execute the day-to-day activities.
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