Organo-Restro: Human Capital Strategies for Entrepreneurial Ventures

This report provides a comprehensive analysis of Organo-Restro's human capital management strategy within an entrepreneurial context. It begins with a background of the business, detailing its products (organic, vegan, gluten-free, and all-natural food) and unique selling points, such as quality food and customer service. The report outlines the operational strategies, including guest experience, customer relations, branding, and revenue management. A macro environmental analysis and identification of target customers (18-36 and 36-54 age groups, premium class) are also included. The core of the report focuses on human resource strategies, covering recruitment (college recruiting, social media, job posts, applicant tracking), selection (application forms, online screening, interviews, psychometric testing), and performance management (planning, monitoring, development, rewards). Finally, it addresses potential challenges at each stage of the venture's lifecycle (seed, start-up, growth, expansion, and maturity), along with corresponding mitigation strategies. The report concludes with a list of relevant references.

Managing Human
Capital
Entrepreneurship
Scholar id

Background of the business
• Products: Organic food, vegan, Gluten free
and all natural food
• Unique features: Cheerful vibes, quality
food with better services
• Customers can get quality and unique
products in Organo-restro
• It offers Delicious organic food
• Customers can completely enjoy a healthy
meal.

Operation strategy
• Guest Experience and Customer Relations
• Reputation Management and Branding
• Strategize for Revenue and Budget
Management

Macro environmental analysis

Industrial analysis

Identification of target customers
• Organo-restro targets the customers
on the age of 18-36 and 36-54 years.
• It also targets the premium class
people due to the higher price of
organic products.

Human resource strategy
Recruitment strategies
• Consider College Recruiting
• Use Social Media
• Create Job Posts That Reflect Your Company
• Invest in an Applicant Tracking System

Cont’d
Selection strategies
• Application forms and CVs
• Online screening and shortlisting
• Interviews
• Psychometric testing
• Ability and aptitude tests
• Personality profiling
• Presentations
• Group exercises

Cont’d
Performance management and Motivation
strategies
• Planning and Expectation Setting
• Monitoring
• Development and Improvement
• Periodic Rating
• Rewards and Compensation
• Training

Potential challenges in different stages of
the life cycle of the venture
• Stage 1: Seed and Development
• Stage 2: Start-up Stage
• Stage 3: Growth / Survival Stage

Cont’d
• Stage 4: Expansion / Rapid Growth
Stage
• Stage 5: Maturity Stage

Potential mitigation
strategies
Seed and Development
• Strategies
• Take the opinion and advice about the business idea from many sources as
possible such as friends, family, business associates, colleagues and any industry
specialists that it can access (Peres, and Friel, 2019).
Start-up Stage
• Get in touch to make transformations
Growth / Survival Stage
• Generate a consistent source of income and regularly taking on new customers.
Along with this, cash flow can start
Expansion / Rapid Growth Stage
• Focus on resources, be realistic regarding the efforts and costs
Maturity Stage
• Push for further expansion and exit the business

References
• Baum, T., 2016. tourism: an introduction. Human Resource Issues in International Tourism, p.3.
• Dusoye, I.C., and Oogarah, K., 2016. Is Mauritius ready to become the HRD leader in Africa? An assessment of strategic human resource development in
Mauritius. European Journal of Training and Development, 40(4), pp.215-231.
• Fallon, P., 2016. 10 Crisis Management and the Future of the Travel Industry. Operations Management in the Travel Industry, p.272.
• Farrington, T., Curran, R., Gori, K., O’Gorman, K.D. and Queenan, C.J., 2017. Corporate social responsibility: reviewed, rated, revised. International Journal
of Contemporary Hospitality Management, 29(1), pp.30-47.
• Imna, M. and Hassan, Z., 2015. Influence of Human Resource Management practices on Employee Retention in Maldives Retail Industry. International
Journal of Accounting, Business, and Management, 1(1), pp.1-28.
• Jooss, S. and Burbach, R., 2017. Assessing the Degree of Human Resource Innovation: An Exploratory Analysis of Irish Hotel Corporations. In Electronic
HRM in the Smart Era (pp. 33-57). UK: Emerald Publishing Limited.
• Li, J., Pearce, P.L. and Low, D., 2018. Media representation of digital-free tourism: a critical discourse analysis. Tourism Management, 69, pp.317-329.
• Manhas, P.S., 2016. Climate disparity versus risk management: destination demand analysis. Worldwide Hospitality and Tourism Themes, 8(5), pp.560-
568.
• Miller, D.S., Gonzalez, C. and Hutter, M., 2017. Phoenix tourism within dark tourism: Rebirth, rebuilding, and rebranding of tourist destinations following
disasters. Worldwide Hospitality and Tourism Themes, 9(2), pp.196-215.
• Nadda, V., Bilan, S., Azam, M. and Mulindwa, D. eds., 2018. Neoliberalism in the Tourism and Hospitality Sector. USA: IGI Global.
• Najeeb, A., 2016. HRM roles in paradise: Strategic or administrative? A study of tourist resorts in the Maldives. In the Asia Pacific Human Resource
Management and Organisational Effectiveness (pp. 147-170). USA: Chandos Publishing.
• Orams, M. and Lueck, M., 2016. Marine tourism. Encyclopedia of Tourism, pp.585-586.
• Peres, A. and Friel, M., 2019. Futourism: New maps for the travel industry. USA: EGEA spa.
• Prayag, G. and Hosany, S., 2015. Human resource development in the hotel industry of Mauritius: myth or reality?. Current Issues in Tourism, 18(3),
pp.249-266.
• Reid, S., Johnston, N. and Patiar, A., 2017. Coastal resorts setting the pace: An evaluation of sustainable hotel practices. Journal of hospitality and tourism
management, 33, pp.11-22.
• Robinson, P., Fallon, P., Cameron, H. and Crotts, J.C. eds., 2016. Operations management in the travel industry. USA: Cabi.
• Robinson, P., Fallon, P., Cameron, H. and Crotts, J.C. eds., 2016. Operations management in the travel industry. USA: Cabi.
• Tolkach, D., Chon, K.K. and Xiao, H., 2016. Asia Pacific tourism trends: Is the future ours to see?. Asia Pacific Journal of Tourism Research, 21(10), pp.1071-
1084.
• Yu, L., Wang, G. and Marcouiller, D.W., 2019. A scientometric review of pro-poor tourism research: Visualization and analysis. Tourism Management
Perspectives, 30, pp.75-88.