Resource Planning and Strategic Development for Euro Car Parts

This report outlines a resource plan for Euro Car Parts, a car parts and accessories distributor, focusing on optimizing internal and external resources to achieve organizational goals. The plan addresses the need for effective resource management to enhance efficiency, maximize resource utilization, predict future project applicability, and improve delivery processes. It incorporates theoretical applications such as the Organization Life Cycle Theory, Role Behavior Theory, and Resource Dependency Theory for human resources, Modern Portfolio Theory and Efficient-Market Hypothesis for financial resources, and Physical Resource Theory and Information Processing Theory for physical and information resources respectively. The plan aims to improve profit margins, acquire new customers, and expand activities over the next 12 months, emphasizing risk analysis and mitigation strategies to ensure successful implementation. Desklib provides access to similar past papers and solved assignments for students seeking further assistance.

RESOURCE PLANNING
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Table of Contents
INTRODUCTION...........................................................................................................................3
MAIN BODY ..................................................................................................................................3
Why deceive a plan ....................................................................................................................3
Aims and objectives of Plan .......................................................................................................5
Resources determined.................................................................................................................5
Theoretical application over resource operations and functions.................................................6
Evaluate and appraise the used of resources against organizational plans.................................8
Gantt chart ..................................................................................................................................9
How the plan maximises resources ............................................................................................9
Potential risk that may arise and remedies applied within it .....................................................9
CONCLUSION ...............................................................................................................................9
Plan maximizes resources.........................................................................................................11
Potential risk and remedies available for it...............................................................................11
CONCLUSION .............................................................................................................................11
REFRENCES.................................................................................................................................12
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INTRODUCTION
Resource planing is the that kind of plan which is based upon objectives that has been
formed by an organization in fulfilling various perspectives related to resource. The plan deals
with managing of various kinds of resources within an organization. Scope of such plan is wider
as it covers perspectives related to resources availability in an organization. Selected
organization for resource plan formation is Euro Car Parts which is based upon distribution of
car parts and accessories. The organization is established within year 1978 and has headquarters
in Wembley, London. The plan is used for developing both internal and external resources
making organization achieve its goals and objectives. Demand and supply of resources which
helps in making sure that resources are fulfilled more effectively. Then in then end of this file
various kinds of aspects relate over resource plan has been discussed.
MAIN BODY
Why deceive a plan
A Resource Plan is based over physical resources which helps upon completing the
project by listing out resources and its types and workforce required for it. It is helpful in making
identification provided over needs of resources. Under the plan three main steps are included
which are identifying types of resources needed over completing project with this quantity of
resources has been discussed. In this various kinds of aspects based upon resource development
is conducted(Chakraborty and Biswas, 2020). Then each type of resources are covered within the
plan and quantity of resources is identified more effectively. In order to make plan resources
schedule is formed making resources available on time. The resource plan helps for summarizing
the resources required tp complete project in proper manner. Resource plan specifies about exact
quantities of labor, equipment and materials needed to complete project. This Resource Planning
template also helps gain approval from Sponsor, ensuring their buy-in. The organization are
protected 28 times more money with resource plan helping in making output achieved with
reliability. Also senior executive helps in managing resources in strategic way. The resource plan
is based over guidance like
 Resource planning for teams
 Why resource planning is an essential part of project management
 The steps in the resource planning process
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 How to use the right resource planning tool
 The key features of an agile resource planning tool
These perspectives that has been mentioned is based upon making plans in effective way.
Also in this project management is covered which makes project completed in better manner.
Resource planning takes place when new project is started making within an organization
making plan prepared through analysing all challenges related to it.
Relevancy of plan with Euro Car Parts
The plan has been helping Euro Car Parts to allocate resources like stakeholders,
workforce and consumer which helps in preparing proper plan in relation to its development. The
planning for resource helps over increasing efficiency, maximizing resources, predicting future
applicability of project, developing better delivery process. Also the plan focus upon increasing
job satisfaction and retention within the team formed by Euro Car parts for its project. It leads
upon making strong relationship with clients(Akimova and et. al., 2020). All these perspectives
are achieved by figuring out over all project pipeline. Resource plan makes management of
resources done in more effective manner for Euro Car Parts. Spreadsheet and project
management tool is used which is responsible for making availability of resources possible more
effectively by Euro Car Part. There are various other models and theories used in order to
develop ideas for developing resources more effectively. This makes quick approach formed for
resource planning. This plan is effective as it makes resources used more effectively. Plan to
project this part of resource development plan is based over determining needs of resources
which makes Euro Cars Parts accomplish its task effectively. This is based over making proper
plan by Euro Car Parts for developing resources helping in full filling needs of employees within
effective period of time. Planning is an important perspective for making positive approach
attained upon project as it brings sub tasks which makes project completed within time. In order
to start the plan an organization like Euro Car Part should conduct meeting and analysis over old
resources. This is an important part of management process which is done before planning. It
makes planning to be done more effectively by keeping in mind all kind of resources which are
present or missing within organization. Thus meeting of management is required to be done
before making plan which helps in maximizing use of old resources. Through this plan leaders of
an organization is able to manage projects and challenges faced at the time of resource
development. Through planning project management is done with an positive approach. Leaders
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with the plan is able to make resources provided upon making better decisions to be taken. As
per resource management techniques applied within plan while managing resources has helped
over making plan prepared more effectively with right parameters. Through this decisions are
taken with point of references making stakeholders adopt the techniques of resource
management. Thus resource management plan is an important part making all kinds of
techniques understood in effective way for resource development.
As per the needs of Euro Car Part selected development is automotive services(body
work repair). The customers purchasing products makes buying items from Euro Car Parts attain
discount of 10-15% by using automotive service(Mourtzis and et. al., 2020). In order to make
this development possible an resource plan is required to be formed with aims and objectives.
Under the plan appropriate theories and models should be used for making development possible
with aims and objectives accomplished. Then analysis over various kinds of departments are
made which leads upon making maximum utilization of resources prepared more effectively.
Potential risk is required to be analysed by Euro Car Parts for main plan to be applied with
perfection. The resource development of Euro Car Parts is based over next 12 months. Thus this
plan has helps Euro Car Part in achieving its goals and objectives more effectively.
Aims and objectives of Plan
Aim: “Growth of profit margin of the organization in first years of operations”
Objective
 To acquire 200 new customers
 To grow profit margin within the organization in first year
 To expand its activities
Resources determined
As per the aims and objectives of Euro Car Parts allocated resources to be used are
human resources, financial resources, physical resources, and information resources. These
resources are used for making over all growth of organization in terms of its profit and revenue
generation. Also the resources holds responsibility in terms making expansion possible within
particular market through analysing various perspectives present within market. Further, the
resource is important for an project in a way that it makes different departments of Euro Car
Parts work with more effectiveness.
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Theoretical application over resource operations and functions
Human resources is the division of an business which is charged for finding, screening,
recruiting and training job application is used for employee benefit program(Ferrari and et. al.,
2021). It is helpful in making an organization like Euro Car Parts attain new employee and more
skilled employee. Further, it helps in developing training programs which makes old employee
attain more know leg of advance techniques to be used in resource planning. In order to improve
human resource certain theories are applied within it which has been discussed as follows:
Organization life cycle theory:
This theory has been presented by Cameron & Whetton and is based upon characterising
organizations development while procuring growth and maturity of an organization. As per the
theory driving force within all stages depends over nature of workforce. Then it is focused upon
creativity, innovation, teamwork and high performance, which will withstand pressure from
competitors.
Role behavior theory:
The theory aims over explaining and predicting behaviour of individual and team
members within an organization. Also through this theory decisions making is improved for an
organization. In this people are able to manage over expected consequence by improving
business environment helping over stimulating behaviour by developing new demands. This
includes use of rewards and promote positivity with work behaviour and punishment for
controlling negativity within behavioural patterns of an organization's business environment. It is
an important theory which makes business improved by enhancing internal factors important for
behavioural growth.
Resource dependency theory:
One of the challenges faced by managers during the economic recessions in the 1970s is
how organizations can best acquire scarce resources and effectively utilize them to remain
competitive in the market(Wang and et. al., 2019). Also, the ability to utilize one’s resources
including (financial, technological and labour, and acquire more from the external environment
was one of the areas of concern in many organizations. The more organizations were able to
harness resources, the more competitive they became. Therefore, resources were seen as the
essence of organizational power. However, over dependence on external resources appeared to
be risky due to the uncertainties that cannot be controlled by the organization. Concerning useful
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labour, the emphasis shifted to seeing employees as scarce resources that should acquire
effectively, utilize, develop and retain.
Financial resources these are the resources which has been used for maintaining financial
resources used for making development possible over various kinds of financial operations
taking place within an organization. These resources are used for planning budget statement and
maintaining record of financial transactions taking place on daily bases. In order to improve
these resources various theories are used by Euro Car Parts that has been explained as follows:
The Modern portfolio theory
This theory is based over making investment possible with the help of optimizing
portfolios and assets which are priced and risk to mark as whole. The basic perspective covered
within theory is based upon efficient frontier, Capital Asset Pricing Model and beta coefficient,
the Capital Market Line and the Securities Market Line. This leads upon making organization
value over random variable.
The efficient-market hypothesis
The theory is based over economics states which has been assessing price by reflecting
about information that is available(Sutduean and et. al., 2019). Under it direct implication within
the market is based over marketing prices which is used over reacting upon new information. It
helps an organization in reflecting about prices and information available to it.
Physical resources these are those resources which is used for making sure that both
tangible and intangible resources are covered in more effective way. Such resources are used for
making organization process improved with effectiveness. In order to make sure that physical
resources are developed within an organization certain theories are applied which are discussed
as follows:
Physical resource theory
The theory is based over dealing with perspective and nature of physical resources which
makes motivation established within them. Also main idea of theory is related over creating
process which is used for enhancing performance of resources like employee, managers and
leaders making organizations progress done more effectively in relation to growth of an
organization. They are required to be developed upon various kinds of resources based upon
developing strong structure related over physical resources making them developed more
effectively.
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Information resources these are those resources which has been used for making
information circulated more effectively. These resources contains one major element which is
communication and in order to enhance the resource various kinds of theories are used that has
been explained as follows:
Information processing theory
This approach is based over studying about development of structure based upon
communication in more effective way. Such perspectives are based upon enacting
communication and developing information storage system. The theory also covers about usage
of technology within information storage process. The theory can manipulate information at any
point of time.
Communication theory
These are the theories leads towards improving communication helping in passing
information more effectively. Through communication theory important information is circulated
more effectively. Under communication theory various perspectives has been covered that is
used by an organization for developing its communication structure.
These theories makes resources enhanced and develop better structure within them which
makes resource development plan accomplish its objectives. Further, the theories has suggested
over important elements within the resources(Samiei and Habibi, 2020). Thus various kinds of
resources like human resource and finance resource make plan work by generating better and
effective opportunities for organizational development.
Evaluate and appraise the used of resources against organizational plans
The resources is one of the most effective perspective which has been used in order to
develop resource plan in more effective way. Human resource planning make an organization
like Euro Car Parts makes business to meet their current demands for talent and allows human
resource manager over anticipating and developing skills adding value to an organization. These
resources helpful for Euro Car Parts as they are able to select skilled employees by making
planning to be developed over filling leadership roles. Also it makes capable employees selected
for particular work of an organization. In relation to resource planning Human resource manger
is able to make resources developed more effectively. Financial resources are another important
perspective which has been used in for developing budget and financial statement. It is an
important resource for organizational plan as it helps upon managing all kinds of finances related
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to the plan. Financial resources are those perspectives which makes funds to be arranged through
bank loan, crowd funding and Monterrey transaction. Physical resources they are important as
without any physical outcome no task is completed for an organization like Euro Car Parts. As
per the plane that has been prepared by organization physical resources are important since
workforce, employee and stakeholders are included within it. Then information resources these
are used by Euro Car Parts to circulate its plan within employees and also helps upon making
information related to project completed more effective(Tavana, 2020). As per the aims and
objectives of Euro Car Parts these resources has important role to play within the resource plan
since planning done in relation to utilization of these resources which makes quality of
automotive parts improved inn more effective manner. Also these resources helps Euro Car Parts
to enhance its services and making its product reach to global level which increases profit for
annual year for Euro Car Parts.
Gantt chart
It is a Bar chart which illustrates the overall project schedule in a proper and effective
manner. In addition to this, it is graphical presentation tool which assist in scheduling the project
in a proper manner. The horizontal axis on chart represent the project activities and time
required to complete the specific activities is shown on vertical axis. It is defined as a project
management tool which is used for breaking as well as segmenting the whole activities as well as
task of study. In addition to this, it help researcher to categorize or divide the whole project into
a manageable and easy manner which leads to completion of study within given time frame.
How the plan maximises resources
Potential risk that may arise and remedies applied within it
CONCLUSION
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Plan maximizes resources
Resource planning is an important perspective which has been used in order to make
maximum utilization of resources by managing it. As per this on demand and real time visibility
has helped in controlling usage of resources and its wastage in any manner . Through resource
plan an organization like Euro Car Parts is able to increase efficiency of resources used within it.
These resources planning is based upon making an organization achieve faster and better ability
to perform particular task related to project. The resource planning makes maximum utilization
of resources possible to its full capacity making organization like Euro Car Parts sell its products
more effectively. Thus resource planning done in relation over Euro Car Parts is able to improve
its working.
Potential risk and remedies available for it
Risk is one of the most effective perspective which is used for fulfilling the project
demands more effectively(Barik, Jaiswal and Das, 2021). As per risk management various kinds
of risk related to plan are identified like unavailability of materials while performing task, poor
planning, conflict of interest and inadequate information. These issues can be solved by Euro Car
Parts through following certain steps problems of risk management is solved effectively these
steps are as follows:
 Identify problems which has taken place
 Then finding out appropriate theory to be applied within it
 Then appropriate discussion is required to be done upon problems by applying theory
within it.
 Employees are required to make problems solved more effectively.
CONCLUSION
From the above discussion it can be conclude that resource planning is an effective
perspective which has been used in order to make various kinds of aspects covered in terms of
resource management. In this file various perspective related to resource planning has been
discussed. Also various kinds of theories impacting resource has been discussed. Then analysis
of the resources upon plan is explained. In then end risk management potential risk and steps to
deal within it is explained.
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REFRENCES
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as a driver of total quality management and enterprise resource planning towards
achieving organizational excellence: the moderating role of demographic factors. The
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