Leo Sun As an owner of a small business, the danger of crippling litigation should also be at the top of your priorities. Legal headaches, especially in America can take you by surprise and severely hurt your business' bottom line. Here are some of the most common legal issues facing small businesses in America.
The responsibilities of a human resource manager fall into three major areas: Essentially, the purpose of HRM is to maximize the productivity of an organization by optimizing the effectiveness of its employees.
This mandate is unlikely to change in any fundamental way, despite the ever-increasing pace of change in the business world. Gubman observed in the Journal of Business Strategy, "the basic mission of human resources will always be to acquire, develop, and retain talent; align the workforce with the business; and be an excellent contributor to the business.
Those three challenges will never change. But in recent years recognition of the importance of human resources management to a company's overall health has grown dramatically.
This recognition of the importance of HRM extends to small businesses, for while they do not generally have the same volume of human resources requirements as do larger organizations, they too face personnel management issues that can have a decisive impact on business health.
Personnel problems do not discriminate between small and big business. You find them in all businesses, regardless of size. Perhaps the paramount principle is a simple recognition that human resources are the most important assets of an organization; a business cannot be successful without effectively managing this resource.
Another important principle, articulated by Michael Armstrong in his book A Handbook of Human Resource Management, is that business success "is most likely to be achieved if the personnel policies and procedures of the enterprise are closely linked with, and make a major contribution to, the achievement of corporate objectives and strategic plans.
Other HRM factors that shape corporate culture-;whether by encouraging integration and cooperation across the company, instituting quantitative performance measurements, or taking some other action-;are also commonly cited as key components in business success.
HRM, summarized Armstrong, "is a strategic approach to the acquisition, motivation, development and management of the organization's human resources.
It is devoted to shaping an appropriate corporate culture, and introducing programs which reflect and support the core values of the enterprise and ensure its success. Individual management entails helping employees identify their strengths and weaknesses; correct their shortcomings; and make their best contribution to the enterprise.
These duties are carried out through a variety of activities such as performance reviews, training, and testing. Organizational development, meanwhile, focuses on fostering a successful system that maximizes human and other resources as part of larger business strategies. This important duty also includes the creation and maintenance of a change program, which allows the organization to respond to evolving outside and internal influences.
Finally, there is the responsibility of managing career development. This entails matching individuals with the most suitable jobs and career paths within the organization.
Human resource management functions are ideally positioned near the theoretic center of the organization, with access to all areas of the business. Since the HRM department or manager is charged with managing the productivity and development of workers at all levels, human resource personnel should have access to-;and the support of-;key decision makers.
In addition, the HRM department should be situated in such a way that it is able to communicate effectively with all areas of the company.
HRM structures vary widely from business to business, shaped by the type, size, and governing philosophies of the organization that they serve. But most organizations organize HRM functions around the clusters of people to be helped-;they conduct recruiting, administrative, and other duties in a central location.
Different employee development groups for each department are necessary to train and develop employees in specialized areas, such as sales, engineering, marketing, or executive education.Supply Chain Management Companies increasingly are becoming aware that their opportunity to having a competitive edge in business can come through supply chain.
In the case of companies operating on global scale, supply chain strategies drive operational efficiencies and affect the bottom line.
Operational risk management is at the core of a bank's operations - integrating risk management practices into processes, systems and culture. As a pro-active partner to senior management, ORM's value lies in supporting and challenging them to align the business control environment with the bank's strategy by measuring and mitigating risk. Environmental issues may present themselves as temporary or permanent changes to the atmosphere, water, and land due to human activities, which can result . Two challenges facing operations management are globalization and worker engagement in solving problems. Increasingly, operations managers must be flexible when coming up with solutions for operating a business within an alternative culture.
Operations managers can obtain 27 The challenges of operations management for business managers Donovan A. McFarlane Spector, B. (). Implementing organizational change: Theory into practice (2nd Edition). 10 Key Manufacturing Outsourcing Challenges for Small and Mid-Size Companies and How to Address Them.
Manufacturing Outsourcing for Small and Mid-Size Companies: 10 Key Challenges & How to Address Them.
Most electronic OEMs, regardless of their size, are faced with shrinking product lifecycles, product proliferation, and a relentless. Logistics and Supply Chain Management in the Hotel Industry: Impact on Hotel Performance In Service Delivery Hilton was typically faced with the challenge of dealing with different suppliers and operation management, finance, and information technology Council of Supply Chain Management Professionals (CSCMP, ).
A series of interviews were carried out with senior management of metal and fabrication SMEs in United Kingdom and Malaysia to understand the attitude towards environmental sustainability, current environmental and operation performances, and other key improvement areas. May 17, · operation management • Executive Summary Operation management is defined as the design, operation, and improvement of the systems that create and deliver the firm’s primary products and services.
Somerset furniture company’s global supply chain was getting lose its competitive edge and even faced shipments delayed by as much as 40%.