...HRM Issues/Diversification Strategies Global demand for steel expanded continuously throughout the 1960s, a demand domestic producers elected to not meet, choosing only to match domestic consumption requirements. This presented an opportunity for up-start foreign producers to strengthen themselves without directly competing against producers in the United States. Throughout this expansion, the relationship between management and labor soured. The Nucor Corporation broke into the industry with a workforce that consisted of farmers, mechanics, and other motivated workers. The company experienced various pains, eventually won community trust and respect within the industry. Trends in Steel Industry and how it may Impact Nucor’s Strategy “Due to growing demand for scrap metal, its cost has become increasingly volatile in the 1990s. In 1994, for example, prices climbed as much as $50/ton to $165-170/ton while 10 million tons of American scrap were exported to offshore customers. In 1996 prices reached $200/ton, and were expected to climb, but instead declined to $170-180/ton by the end of 1997” (Boyd & Grove, p. 6, 2000). Like many industries, the slumping global economy has significantly impacted demand in the steel industry as well. As the automotive and construction industries recover, the steel industry should begin to see a gradual upswing in demand. However, the steel industry will encounter difficulty trying to maintain growth revenues greater than 15% until other...
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...Assignment #4: HRM Issues/Diversification Strategies BUS 599 Strategic Management Conduct an Analysis of Case #10 Nucor Corporation and prepare a (4-5 page report). Discuss the trends in the steel industry and how it may impact Nucor’s strategy. The trend had been major steel production using blast furnaces. New technology using arc furnaces adopted by Nucor led to increased production and cost savings. The arc furnace technology took less labor, increased production, and was considered the new most cost-effective strategy among the steel industry. It was Nucor’s decision to adopt this process and be the first to introduce this new process to the United States. Many steel companies were going out of business due to reduced demand for steel and failing economies across the globe in the late 90s into the 2000s. Nucor chose to buy these failing plants when easily convertible to their production lineup. This also in many cases was a cheaper route than building new plants. The acquisition strategy proved to be essential as these failing firms were already setup for steel production at mass quantities and Nucor was able to inherit their ties and partnerships as well as their presence in their surrounding geographical area. The constant drive for efficiency and cost effective production was another strategy chosen to increase competitive advantage, market share, and ultimately become the number one steel producer among heavy competition. Discuss the organizational structure and...
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...HRM531 HRM/531 Compensation and Benefits Strategies Recommendations Week 3 Download 100% accurate A++ and most economical answer from here http://www.homeworkmarket.com/content/hrm531-hrm531-compensation-and-benefits-strategies-recommendations-week-3-1 Complete the Compensation and Benefits Strategies Recommendations task as described in the Email from Traci on the Atwood and Allen Consulting Page. Hello, For this task, I need you to work with a team. You will only be able to work with one client, though, so everyone in your team must agree on which client to work with. I need you to develop some compensation and benefit recommendations for the client. Don't forget to check the Client Communications link to see a copy of my communications with the client regarding this issue. In your recommendation, make sure you do the following: Conduct a market evaluation by researching what companies in the relevant market are providing to employees from a total compensation perspective. Recommend a compensation structure. Recommend the position in the market. Create a total compensation and benefits strategy. Consider the use of performance incentives and merit pay to recognize and engage employees. Identify laws related to the benefits and pay program. Your recommendation should be no more than 1,750 words. Please have this to me by the end of the week. Download 100% accurate A++ and most economical answer from here http://www.homeworkmarket...
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...FACULTY OF BUSINESS AND ECONOMICS WORK/LIFE BALANCE STRATEGIES: PROGRESS AND PROBLEMS IN AUSTRALIAN ORGANIZATIONS Helen De Cieri, Barbara Holmes, Jacqui Abbott & Trisha Pettit Working Paper 58/02 November 2002 ISSN 1327–5216 Abstract Work/life balance (WLB) is an issue increasingly recognised as of strategic importance to organizations and of significance to employees. We argue that an organization’s need to attract and retain valued employees in a highly competitive labour market is a strong motivating factor for increased organizational awareness and action with regard to implementation and management of WLB strategies. This article reports the findings of three surveys conducted from 1997 to 2000 of organizations in Australia. We explore the range and usage of WLB strategies in Australian organizations, and identify the barriers to those strategies. It is evident that, while some progress has been made over the years, there remain substantial challenges for the implementation and management of WLB strategies. This paper is a work in progress. Material in the paper cannot be used without permission of the authors. DEPARTMENT OF MANAGEMENT WORK/LIFE BALANCE STRATEGIES: PROGRESS AND PROBLEMS IN AUSTRALIAN ORGANIZATIONS INTRODUCTION An organization’s need to attract and retain valued employees in a highly competitive labour market is a strong motivating factor for increased organizational awareness and action with regard to human resource policies and practices that address...
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...considered as being unique, seeing a particular product market as more effective or efficient than its competitions, and cost leadership. By utilizing these generic strategies against industry’s external environmental determinants, management can affect a firm’s performance. On the contrary, a resource-based view suggests that a firm can sustain its competitive advantage through the alignment of internally consistent bundles of HRM strategies/implementation to its overall business strategy and desired performance, to develop critical resources or competencies. This...
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... 1, No. 3, Linking Competitive Strategies with Human Resource Management Practices Randall S. Schuler and Susan E. Jackson New York University ver the past several years there has been increased recognition that there is a need to match the characteristics of top managers with the nature of the business. According to Reginald H. Jones, former chairman and CEO of the General Electric Company, O The result of such human resource staffing practices has been rather significant: When we classified. . . [our] . . . businesses, and when we realized that they were going to have quite different missions, we also realized we had to have quite different people running them.^ Within academia there has been similar growing awareness of this need. Although this awareness is being articulated in several ways, one of the most frequent involves the conceptualization and investigation of the relationship between business strategy and the personal characteristics of top managers.^ Here, particular manager characteristics such as personality, skills, abilities, values, and perspectives are matched with particular types of business strategies. For example, a recently released study conducted by Hay Group Incorporated, in conjunction with the University of Michigan and the Strategic Planning Institute, reports that when a business is pursuing a growth strategy it needs top managers who are likely to abandon the status quo and adapt their strategies and goals to the marketplace. According...
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...Introduction Case 4: Integrating Strategy and Human Resource Management is about how a business or organization can deal with situations as deregulation and ceilings on interest such as “People’s Bank”, a financial services company headquartered in Bridgeport, Connecticut where major changes took place to develop a market place orientation to its products and services. The internal and external structures of the financial service implemented strategic changes to their banking services and stock trading position. Added criteria included their employees who have participated in decision making participation for the purchase new technology. This summary considers some of the decisions that were contained to choose the right type of technology that worked for their environment and business in general (Greer, 2001, p. 156-157). Based on these descriptions of the experiences of People’s Bank, Ingersoll-Rand, Maid Bess, what is the unifying theme of the role played by human resource management? Human Resource Management (HRM) develops the company or organization’s integrated strategic planning processes by implementing the changes and technologies needed for a company’s growth and continued success and competition. HRM implements planning in the business unit and value chain unit. How this is done is setting goals for the organization and having alternative strategies for the business units in the marketing department for example, where the marketing department will further...
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...Title of Assignment Globalization and HRM Strategies Name Professor’s Name Dr. Danielle Camacho Course Title BUS 325 Date 01/31/2014 Globalization and HRM Strategies Walmart-Multinational Enterprise Introduction Multinational enterprises must always consider several subjects. In addition, to the background and goals of the company, other factors such as the international business strategy, and the impact of globalization, cultures, and labor markets on human resource management function must also be addressed. There are also international human resource management functions that can be improved upon to better the productivity and competiveness of the multinational enterprise. The multinational enterprise that I have chosen to research and examine is Wal-Mart. A brief description of the enterprise Wal-Mart is considered to be the world’s third largest public corporation. It is family owned by the Walton family. Founded by Sam Walton in 1962, it is headquartered in Bentonville, Arkansas. In the 1980s, Wal-Mart continued to grow rapidly and by its twenty-fifth anniversary, there were over a thousand stores. In 2005, Wal-Mart had over six thousand stores around the world and employed over one million associates. As, the largest grocery retailer, Wal-Mart has over eight thousand stores in fifteen names under fifty-five different names. Wal-Mart is currently estimated to save families over two thousand dollars per year within the United States...
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...HRM Strategy of McDonald’s Restaurant I. Introduction Organized yearly by Singapore Human Resources Institute (SHRI) and into its 10th edition, The Singapore HR Awards 2012 celebrates leading organizations and HR practitioners in their drive for impactful human capital strategies (SHRI, The Singapore HR Awards 2012, 2012). As one of the most significant HR awards, it serves a top platform to recognize and promote excellence within the HR profession in Singapore by highlighting leading organizational HR practices and HR individuals, including CEOs, HR managers, HR professionals, etc. As one of the winners who have got the awards of 2012, The McDonald's Corporation is the world's largest quick service restaurant chain. There are over 30,000 McDonald's restaurants in more than 100 countries serving an average of 50 million people daily(McDonald, Profile, 2012). Today, more than 1.8 million people worldwide work under the Golden Arches. In Singapore, McDonald’s employs more than 9,000 people in over 120 company-owned restaurants island wide. And the number increases every day(McDonald, Careers, 2012). McDonald is the first honored recipient having won this award on at least 3 past occasions since 1997. Besides SHRI HR Awards in 2008, 2009 and 2012, the company has won other types of HR rewards in others years as well, including Best Mature Workforce Practices award in 2006, Hewitt Best Employer Award in Singapore in 2007 and 2009 and so on . As a winner, the McDonald...
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...Reflective Journal for Week 8 HRM Strategy and Corporate Social Responsibility Explain: In the 1970’s, Friedman (1970) stated that the only social responsibility of an organisation is the profit maximization. However, the definition of Corporate Social Responsibility (CSR) has changed over time. The current definition of CSR is a process with the aim to embrace responsibilities for the company’s actions and encourage positive impacts through its activities on the environment and all stakeholders (Crane, Matten, & Spence, 2014; Lis, 2012; Mallin, 2009). As a company which presents a good CSR, The New Belgium Beer Brewery was introduced in the lecture. They are making great efforts to minimize their impact on the environment, such as utilizing renewable energy, innovating a smart grid and reducing waste. In the prescribed reading, Glavas and Piderit (2009) provides strong evidences that corporate citizenship positively influences employee behaviour. Their survey revealed that an employees’ perception of their company’s corporate citizenship influences their engagement, and can provide high-quality connections and creative involvement. Expand: Companies with a reputation for high quality CSR may be more attractive to job applicants (Backhaus, Stone, & Heiner, 2002; Lis, 2012). Lis (2012) revealed that the effect of four different CSR-dimension (product, environment, diversity and employee relation) were significantly correlated with perception of organizational...
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...| | |Ethical Issues in HRM Strategy | | | |Raynor | | | |Dr. Morgan | | | |HRM 530 – Strategic Human Resource Management | | | |October 28, 2012 | | ...
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...Systems Consideration in HRIS In today’s knowledge economy, organizational success depends almost disproportionally on the performance of Human Resources (HR). To increase the effectiveness of Human Resource Management (HRM) organizations are becoming more dependent on human Resource Information Systems (HRIS). A HRIS organizes employee applicant and qualifications, organizational demographics, recruiting, professional development, performance appraisals, payroll, retention, and attrition. Organizations that implement HRIS’s improve the organizations administrative efficiency with faster information processing, improved employee communications, greater information accuracy, lover costs and overall HR productivity improvements (Beadles, 2005). When selecting a HRIS, Human Resources (HR) should consider the efficiencies of using software as a service, the inefficiencies of various Microsoft Access based database software, the risks involved with integrating and combining multiple products into one system, and the consequences of improper database maintenance. In analyzing HRIS’s that would be beneficial in my current organization I chose to focus on HRIS Pro by Micro Systems, and MyHRIS by Nuview Systems. Commercial Database Systems HRIS-Pro information management software allows organizations greater effectiveness in managing HR functions and responsibilities. The advantages of HRIS-Pro are the information systems cost, modular flexibility, expansion capabilities,...
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...Ethical Issues in HRM Strategy By: Cynthia Chamberlain Strayer University Professor David Frost Week of Jan. 21, 2013 Identify the areas of overlap in the new client organization with others that you have had as clients. If you have limited experience with these types of problems, be sure to research common issues to complete this question. As an HR function, the areas such as industrial relations, employee relations and employment legislation are intertwined. Whenever an organization engages the services of an outside consultant, they are expecting that consultant to draw on the knowledge and experience gained from working with other companies. Although the new client is experiencing the same problems and situations as former clients, you must handle the new client in a unique manner, tailoring answers to its individual needs. Consultants are often used in the areas of training and development, compensation administration, benefits, staffing, and labor law, and there could be overlaps. If the organization has undergone a merger, rightsizing, or downsizing, employee morale and enthusiasm may be affected. In an article written for the Society for Human Resource Management (SHRM), Sarah Hathorn notes, “People are worried about their jobs and there may be a lot of redundancy and overlapping of responsibilities.” HR consultants can provide stability by exerting leadership when needed and continuously searching for solutions to problems. (Grensing-Pophal, L., 2011) ...
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...International Human Resource Management Term Paper 1st Submission Dated: 20/09/2011 Submitted To: Submitted By: Prof. Sukhjinder Baring Sahil Goyal Course Instructor MBA-2B IHRM Contents * About LG * Global Presence * HR policies of Different Countries * PCN Strategies * Studies About LG: LG Electronics was founded in 1958 at Seoul, South Korea. This multinational company is the 2nd largest electronic products maker of South Korea and third largest appliance maker in the world. Yong Nam is the CEO & Vice Chairman of the company who is making it possible to spread the network of LG throughout the world. Headquarter of LG Electronics is in LG Twin Towers at Seoul, South Korea. LG Electronics is the owner of Zenith Electronics and has a joint venture with Philips Electronics under the name of LG Display. Both the companies are putting their effort in manufacturing and developing the quality of their products. Some important subsidiaries of LG Group are LG Electronics, LG Telecom, LG Chem. and Zenith Electronics in more than 80 countries. LG Electronics was established in 1958 as GoldStar. LG Group is the merger of Lucky and GoldStar, two...
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...Write about Critical Thinking? Critical Thinking How can critical thinking be more applicable in the contemporary society with reference to the following aspects Social, economic, political, and intellectual? Critical thinking is an important element of all professional fields and academic disciplines (by referencing their respective sets of permissible questions, evidence sources, criteria, etc.). Within the framework of scientific skepticism, the process of critical thinking involves the careful acquisition and interpretation of information and use of it to reach a well-justified conclusion. The concepts and principles of critical thinking can be applied to any context or case but only by reflecting upon the nature of that application. Critical thinking forms, therefore, a system of related, and overlapping, modes of thought such as anthropological thinking, sociological thinking, historical thinking, political thinking, business person, etc. In other words, though critical thinking principles are universal, their application to disciplines requires a process of reflective contextualization. Critical thinking is considered important in the academic fields because it enables one to analyze, evaluate, explain, and restructure their thinking, thereby decreasing the risk of adopting, acting on, or thinking with, a false belief. For example when students join high school they are usually told that mathematics is hard but a student...
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