Business Organisations 1 Report: HRM, Marketing and Product Portfolio

This report analyzes key aspects of business organizations, focusing on human resource management (HRM) strategies. It examines recruitment methods, including social media and print advertisements, and training and development techniques like classroom-based and interactive training. The report also covers marketing strategies, highlighting the use of traditional and digital methods, and the benefits of a product portfolio. Furthermore, it emphasizes the importance of payroll and pension in a business plan. The report provides five recommendations for Martin and Emelia's business, focusing on job instruction, digital technology investment, product portfolio management, recruitment strategies, and attractive compensation packages. The report references several academic sources to support its findings.

International Foundation
Programme (Business) Business
Organisations
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TABLE OF CONTENTS
Section 2..........................................................................................................................................3
A) Recruitment............................................................................................................................3
B) Training and development......................................................................................................3
C) Marketing and social media....................................................................................................4
Section 3..........................................................................................................................................4
Benefit of having product portfolio.............................................................................................4
Section 4..........................................................................................................................................4
Importance of Payroll and pension in business plan...................................................................4
Section 5..........................................................................................................................................5
Five recommendations for Martin and Emelia’s.........................................................................5
REFERENCES................................................................................................................................6
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Section 2
Company in order to attain its objectives needs to effective manage its human resource or
employees so that they can put their best efforts to deliver qualitative services to customers.
Martin and Emelia needs to undertake several function of Human resource management in order
to improve performance of bakery can be stated as follows:
A) Recruitment
Martin and Emelia in order to recruit right individuals at right place have to make use of
one of the most popular platform i.e., social media to aware people about vacancy for specific
position. So that candidate having different skills and capabilities can apply for particular
position within organisation. It can also creates its official web page where it can post vacancies
thus recruit as number of people or employees required by firm to complete various task and
attain objectives. It can inform existing workforce or 3 employees about vacancies so that they
can inform to their known one that have capabilities, skills and talent to complete specific task
(Brändle and et.al., 2020). Print advertisement is also one of the effective method that could be
used both Martin and Emelia to provide information to people about specific vacancy within
firm. Therefore, both social media and print advertisement method of recruitment can contribute
in enhancing performance of organisation.
B) Training and development
Martin and Emelia in order to perform one of the main function of Human resource
department that is training and development of employees can make use of several method such
as classroom based training program, on the job training, interactive training and social or online
learning. Such as for classroom based training, both Martin and Emelia by making presentation
slides can inform employee about the way particular task can be performed. Interactive or
coaching training is another method that could be used by both owner of Bakery by sharing in
order to development skills of employees (Chaudhary and Bhaskar, 2016). They by sharing
their experienced or guiding, assisting employees regarding the way specific task can be
completed or services can be delivered to customers so that they are motivated to be part of
organisation for longer time frame.
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C) Marketing and social media
Tradition and modern are two marketing method that could be used by organisation to
easily promote its products and services to number of customers. Martin and Emelia can make
use of billboards, TV or print advertisement and social media platform such as facebook,
Instragram and twitter to aware customers about uniqueness of products. Promotional offers and
better services can also contribute in effective marketing of company products in minds and
heart of customers. It can post several videos, images on official sites or social media in order to
inform people and motivate them to taste bakery products in order to fulfil their respective
requirements (Todor, 2016). Thus, sales promotional techniques, advertisement and better
services can contribute in increasing of performance of firm.
Section 3
Benefit of having product portfolio
Product portfolio can be defined as collection of products and services that company
have planned to offer customers in order to earn maximum profit margin and high market share.
There are several benefits of product portfolio for organisation such as helps in innovating
product at regular time intervals as existing line can easily evaluated thus new products can be
launched for fulfilment of customers requirements. Effective allocation of resources is another
benefits of maintaining product portfolio so that maximum value can be delivered to end
customers. Both Martin and Emelia can easily evaluates or visualise entire product line thus
understand which line has contribute in generating maximum sales and revenue. So, that more
emphasis can made on its improvement so that needs of customers can be fulfilled in best
possible manner (Rubera, Chandrasekaran and Ordanini, 2016). Product portfolio also
beneficial as it helps in align several project with business objectives i.e, higher market share and
more profitability. It also helps in identifying products or services that are most preferable by
customers thus contribute in growth and expansion of firm.
Section 4
Importance of Payroll and pension in business plan
Payroll is total compensation that company will pay to its employees on specific date for
performing several task or activities within organisation. It is important in business plan as it
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helps in identifying total expense that company need to incur to provide wages or compensation
to employees for smooth operation of business.
Whereas pension is amount that is given by company at retirement of employees so that they
can life safe and secure lifestyles even in old age. So, company have to include these function in
business plan in order to know cost or expense that are incurred by firm for safety of individuals
(Payroll Definition, 2019).
Section 5
Five recommendations for Martin and Emelia’s
From the above analysis, there are key areas in which company needs to work in order to
gain maximum market share and enjoy high profit margin for longer time frame. Such as:
1. Both husband and wife are planning to start and operate small cafe with few employees
so Job instruction is another suitable option to trained employees regarding the way they
have to complete specific task.’
2. Company have to invest in digital technology to make optimum utilisation of social sites
or internet to promote business among maximum number of individuals within limited
time frame and cost (Barger, Peltier and Schultz, 2016).
3. Martin and Emelia needs to work or pay more attention on product portfolio so that best,
unique and differentiate services or products can be offered to customers for growth and
success of enterprise in high competitive market.
4. There are several process that could be used by organisation to select and recruit
employees among them recruitment through social media is best method that can be used
by company to attract highly talented and qualified employees within organisation.
5. At last, it can be recommend that company needs to set attractive wages or compensation
so that more and more individuals wants to be part of organisation.
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REFERENCES
Book and journals
Barger, V., Peltier, J. W. and Schultz, D. E., 2016. Social media and consumer engagement: a
review and research agenda. Journal of Research in Interactive Marketing.
Brändle, T and et.al., 2020. Recruitment strategies and match quality-new evidence from
representative linked employer-employee data (No. 134). University of Tübingen Working
Papers in Business and Economics.
Chaudhary, N. S. and Bhaskar, P., 2016. Training and development and job satisfaction in
education sector. Training and Development, 2(8).
Rubera, G., Chandrasekaran, D. and Ordanini, A., 2016. Open innovation, product portfolio
innovativeness and firm performance: the dual role of new product development
capabilities. Journal of the Academy of Marketing Science, 44(2). pp.166-184.
Todor, R. D., 2016. Blending traditional and digital marketing. Bulletin of the Transilvania
University of Brasov. Economic Sciences. Series V, 9(1). p.51.
Online
Payroll Definition, 2019. [Online]. Available Through:<
https://www.paycor.com/hcm-basics/payroll-definition >
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