...Company’s Competitive Advantage Prepared By: Trishita Chowdhury 081 358 030 Tahmina Jahan 082 302 030 Sharmin Akhter Khan 082 635 030 Tahasin Ali 093 0523 530 Tania Sultana 093 0541 030 Md. Abu Sayed 093 0216 030 Naved Mohammad Khan 101 0549 530 Prepared By: Trishita Chowdhury 081 358 030 Tahmina Jahan 082 302 030 Sharmin Akhter Khan 082 635 030 Tahasin Ali 093 0523 530 Tania Sultana 093 0541 030 Md. Abu Sayed 093 0216 030 Naved Mohammad Khan 101 0549 530 Prepared For AKM Mominul Haque Talukder (MHT) Senior Lecturer Course: Human Resource Planning Course Code: HRM 360 North South University Date of Submission: 11th April 2012 April 09, 2012 A.K.M. Mominul Haque Talukder Senior Lecturer, School of Business & Assistant Proctor North South University Bashundhara, Dhaka 1229 Dear Sir, Subject: Research Report on Level of Satisfaction of the employees of Avery Dennison. We have the honor to present to you the research report entitled ‘Factors of Human Resource Planning Affecting a Company’s Competitive Advantage’. The main purpose of this report was to assess the relationship between the seven different variables of human resource planning and the independent variable namely competitive advantage...
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...Review of Literature Merging strategic and human resource (HR) planning activities has become a critical source of competitiveness for all organizations. Executives must be able to integrate strategic initiatives and HR practices to gain competitive advantage in the face of increasingly volatile technological innovation, customer expectations, and global competition. Technology innovations nowadays do not guarantee success as competitors can copy it easily. Customer expectation are increasing dramatically and so as the fierce competition from foreign companies. HR professionals must learn to integrate strategic and HR planning as well. Past literature suggests that it is necessary for an organization to obtain knowledge about the situation of labor in and out of the organization which can help them to make successful decisions regarding hiring, retaining and developing human resources. In today’s contemporary organization, employees’ skills and knowledge can make a positive impact on the firm‘s productivity. (Guzzo, Jette & Katzell, 1985). And so, developing employees’ knowledge, skills and abilities via training is tightly related with the competitive advantage of the organization. According to Patel & Cardon (2010) compensation is vital for contemporary organization as it contributes to attract and retain high skilled workers with superior salaries, and it encourages a desired stakeholder behavior regarding recognition and legitimacy. Minbaeva et al. (2003)...
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...Competitive Advantage Tajsha Cheeks BUS 201 Principles of Management Instructor Glenda Riley February 27, 2012 Competitive Advantage The world has been chaining more rapidly than ever before, managers and other employees throughout an organization must perform at higher and higher levels. One of the most important lessons for managers and organizations to learn if they were to reach and remain at the top of the competitive environment of business is to achieve and build a competitive advantage. Competitive advantage is the ability of one organization to outperform other organizations because it produces desired goods or services more efficiently and effectively than its competitors. If company’s follow the four building blocks of competitive advantage, there’s no doubt in my mind their company will be superior to others (Jones, 2011). The four building blocks of competitive advantage consist of efficiency, quality, innovation, and responsiveness to customers. In today’s competitive environment, organizations continually search for new ways to use their resources to improve efficiency. Organizations increase their efficiency when they reduce the quantity of resources they use to produce goods or services. For example, many organizations are training their workforces in the new skills and techniques needed to operate heavily computerized assembly plants. Also, cross-training employees gives them the range of skills they need to perform many different tasks, and organizing...
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...Diversity’s Importance To The Competitive Advantage David Calderone Management 300 Dec. 06, 2011 Table of Contents Cover Page – Pg. 1 Table of Contents – Pg. 2 Analysis of Topic – Pg. 3-9 References – Pg. 10 Appendix – Pg. 11-12 Diversity is important for workplaces to retain a competitive advantage in today’s global economy. “Diversity enriches the workplace by broadening employee perspectives, strengthening their teams, and offering greater resources for problem resolution” (Cox). Diversity is becoming a more common aspect of the business world, but the importance of diversity is often undervalued. “Up to 79% of organizations indicated that they use some form of diversity training” (Madera). Diversity training helps to inform employees about the benefits of diversity, and how you can achieve diversity. According to Barb Peluso “diversity training is becoming a bigger part of the workplace as economies and marketplaces become globally intertwined”. Diversity is a necessary entity in order for a company to achieve a competitive advantage in the economy. Diversity can often have many different definitions. For this paper I will be using the University of Tennessee’s definition. “Diversity is a commitment to recognizing and appreciating the variety of characteristics that make individuals unique in an atmosphere that promotes and celebrates individual and collective achievement” (University of Tennessee). Diversity can be experienced in numerous different ways...
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...Introduction In this report I will be analysing the advantages and disadvantages of staff training for newly recruited Tesco staff. Staff training is an activity aimed to teach individuals a particular skills they might be lacking on or which might need improving. Tesco’s need to provide training for their staff to continue to be competitive, as they could bring new skills into business and increase staff motivation Advantages of Staff Training Training provides many benefits in a workplace. Training can teach employees new skills and remind employees of important business policies. Stay competitive Businesses need to keep their employee skills current in order to be competitive. Training gives your business a competitive advantage by, keeping up with changing software programs, technology changes, customer service skills or leadership trends are examples of competitive advantages organisations can have with a well-trained and skilled work force. In order to be more competitive, businesses need to have employees who can multitask in different situations. An example for Tesco would be that they should train their employees to the best standers if they still want to be completive against businesses like Asda, Morrison’s, etc. By training their employees it would give them a good chance to learn new skills or even develop their old skills which could be helpful for the business in many ways. Improved customer relationship In any business we have to see that the customer...
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...“The only sustainable competitive advantage is an organisation’s ability to learn faster than the competition” (Senge 1990:1) Peter M. Senge is a pioneer in the field of learning organizations and the author of “The Fifth Discipline: The art and practice of the learning organization“ (Senge 1990) which was declared as one of the most powerful books in the past 75 years by Harvard Business Review in 1997 (Smith 2001). The book illustrated that the only way to gain competitive advantage is through making an organisation a learning one. However, is the learning organisation approach really linked to an organisation’s competitive advantage and the one and only approach to enhance an organisation’s performance and, therefore, run a successful company? Or is it more like a brilliant theory but not a viable one in practice? By highlighting the main characteristics of a learning organisation and using organisational examples, this essay will critically discuss and analyse its role in terms of enhancing performance. Learning organisations are companies that aim at improving their performance by providing their employees with on-going learning opportunities. As they are utilising learning to achieve their objectives, learning can be seen as part of an organisation’s strategy. They make their employees learn constantly and, therefore, learning must become an essential component of employees’ work (Bratton and Gold 2007) In order to achieve that, learning organisations invest an enormous...
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...Journal of Public Administration and Governance ISSN 2161-7104 2011, Vol. 1, No. 2 Training and Development Strategy and Its Role in Organizational Performance Abdus Sattar Niazi (Corresponding Author) MS Scholar, Iqra University Islamabad Campus, Pakistan Ph: +92 302 8500 777, Email: a.niazi55@hotmail.com Received: August 01, 2011 Accepted: August 11, 2011 DOI: 10.5296/jpag.v1i2.862 Abstract In the FMCG industry at global level, the business environment has changed with intense pressure on organizations, to become ‘Learning Organizations’ and stay ahead of their competitions by bringing innovation/reinvention in training and development strategy while emphasizing on planning, designing, implementing and evaluating the training programs. Carry out an analysis that the objective of training and development is to create learning organizations which ensure that employees through value addition can effectively perform their jobs, gain competitive advantage and seek self growth: this measurable performance resulting from good training and development, shall enhance organizational performance. Keywords: Training and Development, Strategy, FMCG, Organizational Performance 42 www.macrothink.org/jpag Journal of Public Administration and Governance ISSN 2161-7104 2011, Vol. 1, No. 2 1. Introduction The objectivity of training and development and its continued learning process has always been leverage with the FMCG industry and now it has become rather an over arching trend of...
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...develop an efficient marketing strategy. Explanations for segmentation base, target markets, positioning and competitive advantages will be provided for better perception. Marketing Strategy for Shield Self Defense System Introduction To be able to develop a good marketing strategy it is imperative to define the target market, analyze competitor and their positioning, understand competitive advantages, and to develop a value proposition and statement. Definition of the Segmentation Bases Geographic segmentation which is about were possible consumers reside or place of employment (area, city size). Demographic segmentation is market segmentation accomplished by taking in to account several demographic factors such as; gender, race, age, income, birth era, and occupation. Psychographic segmentation is in relation to potential consumer’s personality, life style, values, and needs. Behavioral segmentation is about apparent attitudes or actions by prospective consumers such as; where they purchase from, how often they purchase, and the reason of the purchase (Kerin, 2011). Description of Each of the Target Markets Target market is group of possible consumers that share common characteristic and needs, thus, business’s uses those findings to create strategies for marketing purpose. One of the target markets that would be profitable for the self-defense training is women of all ages, especially the ones that work away from their home. Women are the main victims of sexual...
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...A competitive advantage is something a firm or product has that competing firm or products don’t have Service quality as a competitive advantage Are product features that can be an advantage for a while but will soon become standard as time goes on. It simples shows how the business uses there criteria to give them that unique edge Customer value as a competitive advantage Simple entails if the customer getting a bargain Customer satisfaction as a competitive advantage Products that have either met or exceeded customer expectation Customer-oriented employees as a competitive advantage Employees’ attitudes and actions must be customer-oriented, because normally the image of one person can be a reflection of the entire organisation Well-trained employees as a competitive advantage Employees must be sent on continuous training and re-training as it is vital in customer service Employee empowerment as a competitive advantage Gives employees the authority to solve customer problems Teamwork as a competitive advantage Involves collaborative efforts to accomplish common goals by assigning employees to teams and teach them team-building skills, because teamwork requires good human relation and interpersonal skills Dynamic Deli portrays standards high quality, fresh products, courteous and competent employees; and clean, attractive and inviting restaurant which help the give an edge over their competitors. With saying that the competitive advantages that Dynamic Deli...
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...John Ola, How Rising Wages Are Changing The Game. HR590 Labor cost as competitive advantage Referenceforlabor.com states “Many firms strive for a competitive advantage, but few truly understand what it is or how to achieve and keep it. A competitive advantage can be gained by offering the consumer a greater value than the competitors, such as by offering lower prices or providing quality services or other benefits that justify a higher price. The strongest competitive advantage is a strategy that that cannot be imitated by other companies”. One of these sources of completive advantage for a company or country is Labor cost. Hiring and training better people than the competitor can become an immeasurable competitive advantage for a company. A company's employees are often overlooked, but should be given careful consideration. This human resource-based advantage is difficult for a competitor to imitate because the source of the advantage may not be very apparent to an outsider. If the company can achieve this and still keep its cost down, it will have a competitive advantage over its rival. Citing the China price, Publisher weekly states, “Dreaded by competitors, the China price has become the lowest price possible, the hallmark of China's incredibly cheap, ubiquitous manufacturers”. UC Berkeley in its study, Living Wage Policy and Wal-Mart states, and another important question to address is how a $10 per hour minimum wage would impact consumer prices charged by Wal-Mart...
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...are future outcomes or results that individuals and group desire and strive to achieve. On the other hand, goal setting is the process of specifying desired outcomes towards which individuals, teams, departments, and organizations will strive and is intended to increase organizational efficiency and effectiveness (Hellriegel & Slocum, 2001, pg 192). Allstate provides their employees with a road map to succeed by executing the goal setting definitions. The employees were given tools and resources to become better. They have quarterly leadership measurements as well as the survey to get feedback from employees. Allstate focus on diversity, they see diversity as a strategy for leveraging differences in order to create a competitive advantage thus create four steps process to reach their effective goals. The first step which is the succession programming explains how Allstate identified and developed candidates for each key position. Allstate’s management information system enables it to track and measure key drivers of career development and career opportunities for all of its employees, ensuring that the company’s future workforce will be diverse at all levels. The goal of which came to manifestation; women were empowered, minorities grew above national averages, Hispanics, and people with diverse cultures now have positions in the company. The second step is development. Through the company’s employee development process, all employees receive an assessment of their...
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...have a competitive edge is through HRM. What is HRM then? Human resource management (HRM, or simply HR) is a function in organizations designed to maximize employee performance in service of an employer's strategic objectives.1 French Wendell, defines HRM as “the recruitment, selection, development, utilization, compensation and motivation of human resources by the organization”. The first definition emphasizes the purpose of HRM while the second one emphasizes the component of HRM. From the first definition, we can say that HRM is designed to make a competitive edge for a company. The company can achieve its goal more efficiently if HRM is well used. The second definition shows us the exact aspect of HRM that we can work on in order to have a competitive edge. This article will mainly talk about the competitive edge gained by using HRM. II. Content I’m very glad that there is a chance for me to study HRM, because human resource has become one of the most important elements to the success of a company. Nowadays, companies are not only focusing on the product or the service but also the human resource. That means HRM has become to a vital importance to the survival of the business. So if I want to set up my own business, HRM is a necessary quality that I must have. Generally speaking, HRM is playing an important role in commercial field. However, how does the HRM be implemented to have a competitive edge? To know this, we must know what is a competitive edge for...
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...depends on the level of social-economic country’s development. It is called Triad Power: bigger technological, economic, social and cultural integration is present among three most developed regions of the world: North America, west of Europe, east and south-east Asia.- it is a center of the world. (highly educated people, good organization of their work, capital) General results of globalization 2. Globalization changes borders of markets. Local markets are too small Factors for export: Pro- active driving force (results from the internal needs of the company) Reactive driving force (is a reaction to external conditions) - Demand for bigger profits - managers’ aspirations - Ownership of unique products and technologies - Advantages of...
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...is the best interest to grow the success of the firm as well as make sure it is in alignment with the federal procurement opportunity’s mission or strategic plan. An agency at the Defense Department, TRICARE, is seeking assistance to provide required HIPAA, privacy, and ethics training to their government staff. They are seeking a firm with the knowledge and capabilities to provide the staff comprehensive and adequate training. The Request for Proposal (RFP) will be advertised through small business opportunity. RM has the experience of working with TRICARE and understands the government’s needs for this requirement. They have the capability to provide these training services and will rely on that knowledge and experience when writing their proposal. Prior to the release of the RFP, RM must begin developing a business plan to strengthen the division in their firm that would be responsible for working on the new opportunity. The firm will need to invest money to begin developing or modifying training materials and strategies on best ways to approach the new opportunity should they be awarded the contract. This investment of resources will help RM gain the competitive advantage to win opportunities that best fit their business model. 2. Create a bid decision evaluation form, select a total of five (5) criteria of the firm’s current marketing position, and...
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...maintaining personal accountability to the employees. Hence, the HRM of the mentioned in the case need to adopt this strategy to improve its performance for a competitive advantage against other organizations undergoing the same hardship. Attracting the right people to the organization For instance, organizational culture is a collective interaction of environments, experience, behaviors and coworkers that are consistently supported and demonstrated in an organization. Hence, this company needs to attract the right people who will embrace and work within the culture of the company that will lead to improvement of its hardship, financial performance and gain competitive advantage over its competitors who have not adopted the system. (Meehan, Gadiesh & Hori, 2006). Moreover, the company can improve its hardship and gain competitive advantage over its competitors by cultivating and building a performance culture through good leadership of rewarding the behaviors, practices and words that are more similar with the organization`s mission. This practice will improve employee performance and consequently lead to better performance of the company. Moreover, HRM of poor performing organization as in the case need to construct a long-term planning as this will enable the company to run its activities consistently, and have a competitive advantage over other non performing organizations in the market (Meehan, Gadiesh & Hori, 2006). Recruitment and selection is another process that HR managers...
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