Business Strategy: HRM, Product Portfolio, Business Plan for a Bakery

This report analyzes a bakery's business operations, focusing on Human Resource Management (HRM) functions, product portfolio benefits, and the importance of business plan elements such as payroll and pension. The report examines recruitment strategies like newspaper ads and employee referrals, as well as the significance of training and development and marketing through social media. It highlights the advantages of a product portfolio for business growth and emphasizes the role of payroll and pension in employee retention and business planning. The conclusion provides insights into how these elements contribute to achieving business targets. The report offers five recommendations, including promotional tactics, product quality improvements, new product development, social media promotion, and bakery renovation to enhance the bakery's performance and competitiveness.

Business organisations

Table of Contents
INTRODUCTION...........................................................................................................................1
MAIN BODY...................................................................................................................................1
What the entrepreneurs of the bakery are required to do for Human Resource Management
Functions so to improve performance..........................................................................................1
Benefits of the company having product portfolio......................................................................2
Importance of following in business plan....................................................................................3
CONCLUSION................................................................................................................................3
REFERENCES................................................................................................................................5

INTRODUCTION
Business organisation is entity formed to carry out the commercial purpose and it also
supports managers to structure their business activities to fulfil the requirement of company and
accomplishment of task effectively (Al Mamun and Hasan, 2017). It involves different categories
how business is structured such as sole proprietor, partnership and corporation. In this
assessment Martin and Emelia' s bakery has been taken and it is established in Central London
and shop of Bakery, attached with small factory where cakes and breads were manufactured.
There are three other employees working in bakery and Martin want to buy bread making
machine to increase their business and Emelia thinking of adding pastries and cupcakes in
bakery.
In this assessment, some methods were being discussed to improve the performance of
bakery which are Recruitment, Training and development and marketing and social media. In
this assessment product portfolio and its benefit for one of the product and importance of Payroll
and Pension in business plan is also being discussed. At last five recommendations of
performance of bakery are provided for improvement.
MAIN BODY
What the entrepreneurs of the bakery are required to do for Human Resource Management
Functions so to improve performance
a. Recruitment
Recruitment is define as hiring process of suitable employees for specified job or
position. It is first and foremost steps of identifying the competent candidate as well as sourcing
them within the enterprise. In Martin and Emelia bakery, External method is suitable for
improvement in the performance of bakery. This method include recruitment through newspaper,
employee references and media. Entrepreneurs of bakery is required to use Newspaper mode for
hiring, which help them to get better and experienced employee, who has worked in previous
bakery will help this bakery in many ways. Employee can suggest more good things that need to
improve in this bakery. Employee references is also use for recruiting it aids the bakery to hire
the employee easily and it is cost effective also, it does not require much time and effort.
Existing employee will also suggest those who will be capable of doing the job that helps the
bakery in improving the performance.
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b. Training and development
Training and development is refers as organisational activities that believes in providing
training and other educational programmes to improve the performance of employees so that
they can achieve their goals effectively (Allen and Kraakman 2016). In Martin and Emilia's
bakery this method helps in developing the skill set and competency among employees to
perform better and accomplish their targets. Entrepreneurs supposed to identify the areas in
employees where training is required to give and provide them according to their needs.
Through this employees performance will enhance and they were motivated to work more and
give their best. This eventually help the bakery to grow more faster as its employee were capable
and competent to survive in any situation. This will enable the bakery to give tough competition
to other bakery shops in market through their skilled and upgraded workforce. It gives strength to
Martin and Emiley to work harder and provide more training to increase the performance of
employees.
c. Marketing and Social Media
Marketing and social Media required to use in recruitment through the use of different
marketing mode and social media platform. This method is cost effective and widely used by
many big organisation to find suitable candidate. Martin and Emelia's bakery use this method for
finding best candidate by using internet platform and social media because they are easy to use
and saves money, cost. This method is very effective where bakery can put their profile and ask
for application from interested candidates from different places. Bakery can use marketing
strategies and tactics also to hire the interested and competent employees through using hashtag
job seekers, create LinkedIn profile, giving ad on different Job providing apps and using
Instagram post to attract the job finder. Bakery able to get skilled employee from this and also
get recognition from other viewers which help in indirect promotion of bakery that increases in
profit and awarenesses in name of bakery.
Benefits of the company having product portfolio
Product portfolio termed as all product and services offered by organisation and also
show what are product line and its categories were in company (Galaskiewicz, 2016). It helps the
investor and researcher to identify the growth and performance through their product portfolio.
For Martin and Emilia's bakery product portfolio proof as important tool for their business
growth as they cafe and shop where bread is top seller. So, bread is main product in their bakery
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so making product portfolio will help in increasing of bread more, because preparing the
portfolio shows all product offered by them. So making this will attract consumer and when they
come to visit they will also order bread, which is main product so ultimately it will enhance the
popularity of bread more through product portfolio. So, product portfolio will increase the
awareness and reputation of bakery among costumer and they will visit again and again to buy
their famous product.
Importance of following in business plan
a. Payroll
This is specified amount paid by employer to employee according to certain laws and
rules made by organisation for welfare of employees. Martin and Emelia's bakery use this to
retain the employees for longer period by providing them safety of future and this also motivate
them to take participate in making business plan for bakery.
b. Pension
This is kind of fund given by employer to employee for the benefit in their retirement
period (Fjeldstad and Snow, 2018). Martin and Emelia's bakery required to use pension plan for
welfare of their employees and so that they can securely do their work and can help in making
business strategies and plan in bakery.
CONCLUSION
It is concluded that Business organisation is helpful in achieving the targets and function
on specified system and law that has been established to smooth working of organisation. In this
assessment Training and development shows that it is beneficial for developing in performance
of bakery through giving required training and personality programmes it enhance skills and
knowledge in employee and will perform better. There are five recommendations that are
suggested for bakery -
 Bakery can use different promotional tools and advertising tactics to increase their
business and growth.
 Martin and Emelia can increase the quality of their product and provide satisfy the
requirements of costumer.
 Entrepreneur might come up with new product and categories with low price to grab the
attention of buyer.
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 Bakery can promote their products on social media by using different platform.
 They can re innovate their bakery into new one to attract large number and give
competition to local bakery.
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REFERENCES
Books and Journals:
Al Mamun, C. A. and Hasan, M. N., 2017. Factors affecting employee turnover and sound
retention strategies in business organization: A conceptual view. Problems and
Perspectives in Management, (15, Iss. 1), pp.63-71.
Allen, W. T. and Kraakman, R., 2016. Commentaries and cases on the law of business
organization. Wolters Kluwer law & business.
Fjeldstad, Ø. D. and Snow, C. C., 2018. Business models and organization design.Long Range
Planning.51(1). pp.32-39.
Galaskiewicz, J., 2016. Social organization of an urban grants economy: A study of business
philanthropy and nonprofit organizations. Elsevier.
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