In our organization, we have four different types of products. First, we have the differentiated products, which have been able to have a distinction from other similar products. Secondly, we have customized products that meet customer’s requirements. We make considerations when developing our products to meet the needs of our customers. Thirdly, we have the augmented products that we make in order to improve the quality of the products. The improving of quality is not due to customer’s requests. Finally, we have the potential product, which is tomorrow’s product. The potential product carries with it all the improvements (Huselid and Becker 425).
In our organization, there are five types of customers namely, loyal, discount, impulse, need-based, and wandering customers. For the loyal customers, we need to keep communicating with them on a regular basis. They play a very vital role since they influence our buying and merchandising decisions. Discount customers aid in ensuring that the inventory is turning over. With this effect, it is a major contributor to the flow of money.
Impulse customers attract us to serve them relentlessly. They are the best group of customers to target since they play a vital role of giving us enough customer approach and knowledge. Need-based customers aim at their needs only. In case they enter into a store, they just aim at meeting their needs urgently. They do their shopping for various reasons, which include occasions or other needs depending on several factors. Finally, the wandering customers usually do not have a particular need in mind. Their main objective is to have an experience of a particular product (Ulrich11).
Purpose and goals of the organization
Setting of business goals is of great significance since it provides us with direction and motivation. This takes place only if we set the right goals that aid in keeping our business on track. When setting business goals, three rules must apply. The first rule is that, the business goals must be relevant. The set goals should be profitable in some fashion, meaning that, it has to posses a clear benefit to the business.
Secondly, the business goals need to be actionable. One has to be sure that s/he has developed the goals from the general statements before setting down business objectives. Finally, the business goals need to be achievable since their purpose is to make the business move forward. By following the above rules when setting business goals, will automatically lead to achieving more in our businesses (Huselid and Becker 426).
External factor and their impacts on business
In any business enterprise, there are external and internal factors that have different impacts on the business activities. External factors take place outside the company’s enterprises. In addition, these factors are beyond the control of the company. External factors comprise of the industry itself and the economy. Other examples of external factors are demographics, competition, and political interference. The effects of external factors can lead to collapsing of a business if not well handled. For the success of a business, the management should identify the changes that are taking place at the moment and the ones that are likely to take place in the future (Ulrich 13).
An organizational structure in a company or any institution consists of different activities. The activities include task allocation, coordination, and supervision. Such activities lead towards the attainment of the set goals by an organization. The structure of an organization is dependent on its objectives since it determines the modes in which the business operates. Moreover, the structure gives room for the expressed allocation of responsibilities to different entities. In addition, the structure of an organization provides the foundation for the standard procedures and routines. Furthermore, the structure acts as a determinant of individuals to play a part in the decision making process (Huselid and Becker 428).
Working of different functions
To achieve harmonized working of the functions in an organization, the management has to follow a number of things. When aiming at achieving the set goals, delegation of work to each employee of the organization takes place. The individuals work to attain definite goals. In addition, in case of coordinating various activities, the accountability of the involved people is well defined. Definition individuals’ responsibilities lead to effective facilitation of business activities.
Moreover, to help in establishing a logical authority, responsibilities of all people in the organization are well defined. These individuals acquire a place in the hierarchical structure. Lastly, the functions allow for the application of the concept of specialization and division of labor. This helps in allocating individual work according to individuals’ capabilities (Huselid and Becker 427).
Culture in an organization
Organizational culture describes the psychology, attitudes, and beliefs of an organization. It comprises of the values and norms shared by individuals in an organization. Organizational culture controls the interaction between the employees in an organization and the stakeholders outside an organization. A healthy culture may lead to various benefits including efficiency in the performance of the employees, team cohesiveness, and high employee morale. In addition, it can lead to strong company alignment that aims at the set goals (Huselid and Becker 423).
Organizational strategy focuses on the future of the business. Organization’s strategy gives customers value for their money. It helps a company to build and sustain a strong position in the market place. Success in business that is continuous comes only after adapting change and being able to do it quickly. Assessing our customer’s organizational strategy forms a very important part of our succession management strategy.
Our organizational strategy is composed of four different components; nevertheless, the most critical components of our strategy consist of vision, mission, and competitive advantage. This strategy element describes the business in our organization is engaging in current and the future prospects of our organization. It also gives the market objectives and the way our organization differentiates itself from competition (Ulrich 15).
The other strategy element is external assessment. External assessment gives a reflection of our organization’s approach to collecting and giving an analysis of the important market data. In addition, external assessment includes developing competitive profiles. Furthermore, studying macro and micro economic information falls under this category. The third strategy element is the internal assessment. This strategy element is the most important element since it gives a reflection of our company’s ability to measure its own strengths and weaknesses. The element also measures the company’s management processes.
Finally, the other strategy element consists of objectives, initiatives, and goals. These elements illustrate our company’s ability to articulate the set goals. In addition, it indicates the process to follow to achieve the set goals, and the time to achieve the goals. Moreover, the process includes definition of direction and aligning of financial resources. Furthermore, instilling accountability and determining critical measurements are also included in the process (Ulrich 21).
HR activities in an organization
The activities by the HR are very important in supporting the organization’s strategy. It is the duty of the HR to maintain a strong administrative foundation within an organization. The HR should utilize this opportunity to earn himself/herself a seat at the strategy table. For him/her to be involved fully with the strategy development, s/he should acknowledge activities already done, with what is being required to add value to the organization’s bottom line. In case, a problem is identified, s/he is supposed to consider, maneuver, and attest on its value as part of an ongoing strategy scheme. In addition, well organization of the HR will help in playing a role in strategic planning.
Ensuring the alignment of the human asset with the strategy laid down by the institution is also the role of the HR. All the factors of the human resource have to be developed to elaborate the human input in a business entity. Furthermore, an organization should acknowledge the activities undertaken by the HR to bring success in their businesses. For recognition, the HR should be composed of competitive individuals who can carry out strategic initiatives. It is the role of good HR personnel to build their business knowledge. In addition, s/he should build the organization’s financial skills. Finally, s/he should develop the business’s consulting skills (Huselid and Becker 426).
HR professionals and the line managers
HR professionals support their line managers and staff in different ways. The functions of the HR help in the development and the implementation of strategic responses. These strategic responses aid in increasing competitive pressure. This aspect applies in both the private and the public sectors making them adapt to different stimuli. The different stimuli include competition, both internal and external, slower growth, and the reduced markets.
In addition, the HR should provide the line managers with skilled labor to aid them in production. Moreover, it is the responsibility of the HR to solve problems among the workers and the line managers. This increases production of an organization due to high efficiency (Ulrich 18).
HR functions and business success
HR functions include a variety of activities. One of the key roles is deciding the staffing needs of an organization. The HR makes decisions on whether to use independent contractors or hire workers to meet an organization’s needs. In addition, the HR decides on recruiting and training of employees. S/he also ensures that the employees are high performers by dealing with the performance issues.
Moreover, it is the role of the HR to ensure that the organization’s personnel and the management practices move according to the various regulations. Furthermore, the functions of the HR include managing worker’s benefits and compensation. In addition to that, the HR should manage the employee’s records and personnel policies. S/he should ensure that all workers have, and are aware of, the personnel policies (Ulrich 25).
Huselid, Mark, and Becker, Brian. “Bridging Micro and Macro Domains: Workforce Differentiation and Strategic Human Resource Management.” Journal of Management 37.2 (2011): 421-428.
Ulrich, David. A new mandate for human resources. USA: Harvard business Press, 1998.