Revise according to the supervisors comments

Business Finance

Havard university

Question Description

Below is the attached copy of my work and the feedbacks. Unfortunately, I failed in two areas only. Please follow the revision comments well. I need you to revise by adding what the supervisor stated that is missing. Please do not delete anything but just add what is neee in a different colour ether yellow or green. each of the two sectionn is about 200 Words. The section aI failed is indicated as (N). Any form of plagiarism will not be allowed

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CHR assessment feedback form Participant Name: Wael AlGhamdi Learning outcomes The learner will: 1 Understand the key contemporary business issues and main external factors affecting different organisations and the impact on HR 2 Understand how organisational and HR strategies and practices are shaped and developed 3 Know how to identify and respond to changes in the business environment Assessment criteria The learner can: 1.1 Assess a range of different factors which impact on an organisation’s business and its HR function Y 2.1 Analyse the forces shaping the HR agenda Y 2.2 Compare different tools for analysing the business environment 2.3 Explain the key stages in strategy formulation and implementation and the role of HR 2.4 Examine HR’s contribution to business ethics and accountability N 3.1 Evaluate business performance and the role of HR in business planning and the change management agenda Y 3.2 Assess and utilise different sources of business and contextual data for planning purposes Y Overall facilitator feedback: Wael, you have not managed to meet all the criteria set above. Please consider the areas for development outlined in your feedback below. Please ensure you are compliant with the resubmission guidelines when revising your assessment: • • • • Please read through the feedback in this document and consider the points of development raised for this submission. If you identify a gap in your knowledge, please refer back to your e-lessons for further information. If you have any questions around your feedback, please do not hesitate to contact me to discuss at shaine.richardson@dpgplc.com. Don’t forget your Online Facilitators host Webcasts twice per week who can answer any questions around your learning and study tips. To access the timings for the webcasts, log on to the DPG Community and go to your programme community group titled Online Human Resource Management Programme. When here, head to the Getting Support tabs to view the timings and register. Whilst on your community, access the unit tab you are working on for further information and the opportunity to network with learners who have studied the unit. There is no word count limit for resubmissions, but it is recommended that no more than 200 words are added per referred criteria. Nothing should be deleted from the original submission and only new wording added in red a coloured font. CHR assessment feedback form v 1.0 online Met? Y/N Y N • • CIPD ruling states that a resubmission can be marked as referred if the wordcount is deemed excessive. Please do not delete your original submission. This is required for internal verification. I have provided further feedback below. 1.1 You present a sufficient overview of each of your chosen factors and how you see these impacting on the case stud organisations operations. You incorporate what you see as the impact on the HR function in your response to 2.1 below. 2.1 You merge your response to 1.1 here in what you see as emerging/evolving within the external environment in the short to medium-term rather than a longer line of sight of what and how you see these influencing the HR agenda and how HR would support workforce/organisational effectiveness. A generic response but sufficient overall. 2.2 You have presented a sufficient level of interrogation of the two analytical tools of Porters 5 forces and PESTLE. To strengthen this would be to have also included some insight to the pros and cons of both as planning tools in supporting decision making. 2.3 You present the steps taken to formulate, develop and implement a strategy and within that only then present models such as the Mintzberg and McKinsey 7’s models with no supporting narrative or explanation of what they are or how they are applied. The role of HR within that is succinct and does not present any indication of the functional roles that HR would undertake to support implementation as outlined by such authors as Ulrich. This criterion will need to be revisited to enable you to develop your understanding of how the models presented are applied practically as well as what roles HR would play within that to support this. 2.4 This criterion will need to be revisited to give clarity to your understanding of the role of HR in driving and embedding ethical behaviours/culture into a business. You present a number of activities which supports the ‘what’ as well legal adherence but what is required is ‘why’ the HR function/practitioner w/should be accountable/responsible for this. 3.1 The role of HR is integral to successful implementation of a business strategy. Here you are describe benchmarking as a business tool which you then do not apply. This criterion requires to you undertake an evaluation using a business tool of your choosing. You outline what role HR w/could play in supporting/ managing changes within a business and although not aligned to any evaluation undertaken by you does present a sufficient but succinct level of understanding. 3.2 You present awareness of relevant data/information to potentially inform decision making. CHR assessment feedback form v 1.0 online Assessor Name: Shaine Richardson Decision on meeting CIPD Criteria Signature: Not yet Meets Date: 4 May 2020 CHR assessment feedback form v 1.0 online Business issues and the contexts of HR (CHR) assessment template Business strategy development and the role of HR – briefing document Name: Wael AlGhamdi Word count: 2892 FACTORS AFFECTING AN ORGANISATION & HR FUNCTION Business Strategy Development and the Role of HR A.C 2.2 Tools for analyzing the business environment The business environment involves the geographical, political, economic, social, cultural and industrial environment within which a business operates. The tools include Porter’s Five Forces, SWOT analysis and PESTEL analysis Porter’s Five Forces Businesses operate within competitive environments and Porters Five Forces is a strategy for analyzing the competition that an organization faces. Porters Five Forces analyzes five competitive forces that influence the competitiveness of a business (CGMA, (2013). CIPD Level 5 HR CHR assessment template v1.0 Figure 1 Porter’s Five Forces Buyer Power- analyzes how easily buyers within an industry push the prices down. This depends on the number of the buyers and the sizes of their orders. The buyer power analyzes how strong the buyers are to dictate the price of a product depending on its substitute. The buyer power of an organization such as Heritage textiles is likely to increase if it has many customers purchasing tits merchandise. Supplier Power –measures how easily suppliers can change prices. Businesses rely on suppliers for products that help contribute to the supply chain. However, when there are fewer suppliers, the business will over-rely on them, leading to a stringer supplier power whose actions may impact the business CIPD Level 5 HR CHR assessment template v1.0 Competitive rivalry- Analyzes the level of competition that a business has. Heritage textiles, for instance is likely to be negatively affected if it has many stronger rivals whose products are of better quality, favorable prices and higher utility. Threat of substitution- a Substitute is a product with the same utility as another. Heritage Textiles’ substitutes, for instance, could be processors of cotton whose products may substitute textile. The availability of substitutes makes a business less powerful Threat of new entry- Measures the ease of entering an industry. The easier it is to enter an industry, the less powerful a business becomes 2. PESTEL analysis PESTEL analysis analyzes the Political, Economic, Social, Technological, Environmental and Legal issues that may affect a business (Weeks, 2018) Political Factors – Political issues such as trade restrictions, political stability, tariffs, policies and regulations, tax policies, among others impact a business Economic Factors- The economic issues that are likely to impact an organization such as economic growth or decline as a result of changes in interest rate, inflation rates or exchange rates, wage rates such as minimum hourly or monthly pay and the availability of credit can influence a business and are therefore used during the analysis of a business Social Factors- The social and cultural environment of a business can be used to analyze a business. These include issues such as population rates, age, health, cultural norms among others. CIPD Level 5 HR CHR assessment template v1.0 Technological factors- The technological environment of a business is used to analyze how a business could perform within the same environment. Legal- The legal changes within the business environment such as employment laws taxation and access to raw materials can be used to analyze a business Environmental – The level with which a business demonstrates responsible management practices such as sustainable and ethical operations can be used to analyze a business within the operating environment. A.C 1.1 External Factors and their impact on business Technology Technology drives production. Organizations that can adopt the most efficient technology for production are likely to perform better compared to those that do not embrace technological change. Better production and strategic information technology can increase the growth of Heritage textile to be able to meet supplier demands. However, Heritage Textiles is likely to be outrun by fierce competitors if it has obsolete technology Employment and Labour laws Labour laws within various countries guide the employment relations process within an organization. Heritage Textiles, for instance, has to pay employees the recommended wages per hour. However, if Heritage Textiles cannot afford remunerate workers to the recommended level, they will downsize, hence affecting the organization’s production capabilities Level of Education CIPD Level 5 HR CHR assessment template v1.0 The level of education within a society determines how knowledgeable and skilled people are to drive production and innovate essential production processes that will make the business profitable. An organization will therefore have access to large pool of skilled personnel to hire and grow the business. However, if an organization like Heritage Textiles operates within an environment where it is difficult to find skilled and qualified employees, its productivity is likely to reduce. Credit Availability Heritage Textiles requires capital to sustain their business growth strategy and meet future objectives and expectations of the business. Credit availability happens when banks can easily lend to companies for business growth and expansion at affordable rates. Credit unavailability raises the cost of capital which implies that Heritage Textiles will not be able to meet future demands of the business or sustain growth, creativity and innovation. How the external forces impact of on the organizations function Technological advancements imply that HR has to keep changing and adjusting for the organization to acquire and utilize the most efficient technology of managing the organizations human assets. Furthermore, technological changes call for HR to manage the change process by organization employees to embrace change and reduce resistance to technological change. Secondly, the employment and labour laws within a country guide the employee relationship process, including recruitment, selection, training, among others. Thirdly, availability of credit means that an organization can plan for its growth and expansion, which will necessitate the addition of more human power. However, less credit availability implies that the business will reduce or halt operations, necessitating a downsizing or restricting of the company. Fourth, a highly educated CIPD Level 5 HR CHR assessment template v1.0 society impacts the labour market such that HR can hire the best talent to drive the organizations growth agenda. AC 2.1 The key forces that influence the HR agenda HRM is a strategic business function that influenced by various key forces. Competition HR monitors the activities of competitors with regards to human-power management to ensure that the business remains competitive within the industry. HR develops agile policies that are able to respond to the actions of competitors that pose threats to the existence of the business. The various activities, plans and changes by competitors can have an effect on a business if these actions make competitors stronger and more efficient compared to the business. HR also monitors competitors to identify the gaps and opportunities from their activities. The employment markets The labour markets involve employers demanding for labour and employees supplying it. The supply and demand for labour are influenced by factors such as population growth rates, age, level of education, and immigration policies. Labour markets with lower supplier and high demand means that HR has to spend more resources in talent acquisition, retention and management. The employment markets therefore influence the HR agenda. Technological changes Change is a constant within the workplace. With the increasing technological advancements, HR has to prepare employees to accept the most efficient technological changes in the market to enhance productivity, to improve communication, cut down CIPD Level 5 HR CHR assessment template v1.0 operational costs and improve business efficiency. HR, being a strategic business function, has to be at the forefront of managing transformation. HR manages technological changes at the workplace by communicating planned changes, identifying change leaders, dealing with resistance to change and rewarding employees who embrace change. Technological changes therefore drive the HR agenda. Government Regulations The regulations and policies set by governments and regulatory agencies and authorities shape the HR agenda. The government makes regulations on employment and labour laws which implies that HR has to make policies and tailor their processes and procedures to be in line with government regulations on issues such as recruitment and selection, employee compensation through the minimum monthly and hourly wages, retirement, redundancies, statutory deductions and benefits, employee rights, occupational health and safety, among others. The HR agenda is therefore influenced by laws and regulations set by the government to guide the employment industry. CIPD Level 5 HR CHR assessment template v1.0 ORGANISATIONAL AND HR STRATEGY & PRACTICE A.C 2.3 Stages of Strategy Formulation and Implementation. Strategy formulation can be rational, emergent and symbolic (Taylor and Woodhams, 2016). The process of strategy formulation and review is explained by the diagram below. Figure 2: Strategy Formulation and Implementation steps The organization reviews its mission, vision, goals and objectives. These explain what the organization intends to achieve within a set period. The objectives of the organization should be clear in both the long term and short term for easy strategy formulation. At the second step, the organization analyzes the environment using various tools such as Porter’s Five Forces, SWOT and PESTLE. The understanding of the business environment enables the organization to understand its strengths, CIPD Level 5 HR CHR assessment template v1.0 weaknesses and potentials, and come up with plans to deal with the both internal and external forces that are likely to affect the business. Thirdly, the business uses the additional information obtained from environmental analysis to review the goals and objectives of the business and develop strategic goals by aligning. The next step involves setting strategic objectives based on the strengths, opportunities and competitive advantage of the business. Strategic objectives also involve aligning the organization’s HR needs to reflect on the general needs of the organization. The fifth step involves establishing the strategies of meeting each business objective while the sixth step involves the development of an annual plan of action that will help the business to achieve both long term and short-term plans. The last step involves review of the strategies and performance analysis to establish the changes that need to be made to ensure success. The strategy formulation and implementation process can be undertaken using the Mintzberg Model. The Mintzberg Model categorizes an organization into different parts such as the ideology, strategic apex which involves top management, the middle management, technostructure, support staff and operation core. CIPD Level 5 HR CHR assessment template v1.0 Figure 3: The Mintzberg Model The second model of strategy formulation and implementation is McKinsey’s 7 S Model which involves the structure, strategy and systems that support the shared values, skills, style and staff (Dudovskiy, 2017). CIPD Level 5 HR CHR assessment template v1.0 Figure 4: McKinsey 7 S Model The Role of HR in Strategy Formulation and Implementation First, HR should assist the executive leadership in the formulation and implementation of change management to ensure that the organizations objectives are met. Secondly, HR can assess the internal factors of the business such as strengths, weaknesses, opportunities and threats and compare them with competitors to assess the competitive advantage of the business. Thirdly, HR can prepare and lead teams that will spearhead the implementation of the various strategies to achieve business objectives. Furthermore, HR should shape the organizational culture to ensure there is a shared ideology and cooperation to meet objectives (Houghton & Young, 2019). AC 2.4 How HR contributes to business ethics CIPD Level 5 HR CHR assessment template v1.0 The various activities undertaken by HR can contribute to business ethics and accountability. Ethics and accountability are part of responsible management which HR contributes to in the following ways: Setting and implementing ethics-related policies HR develops the policies within organizations that guide employee conduct and relationships. Such rules stress on ethical conduct, responsible employee behavior and adherence to the company culture through cooperation and positive engagements. For example, Heritage Textiles HR can promote an ethical code of conduct that promotes values within the organization to guide employee conduct and behaviour. Encouraging Diversity Diversity brings people from different cultures to help the business meet its objectives. When HR carries out fair recruitment activities, the organization is likely to end up with people from different gender, ages and cultures which creates harmony and cohesion Equality and Fair Treatment HR implements policies that seek to ensure equality at the workplace, such as equal pay for equal work. Equality ensures that people from diverse genders, cultures, races, among others are remunerated equally, for equal work done (Equality Act, 2010). Fair treatment involves the implementation of policies and practices that promote fairness at the workplace without making others feel discriminated against. Equality and fair treatment promote a sense of justice which is part of business ethics. CIPD Level 5 HR CHR assessment template v1.0 RESPONDING TO CHANGE A.C 3.1 Evaluating the business performance of Heritage Textiles Benchmarking Benchmarking is a business tool of assessing the performance of an organization against other leading institutions. Heritage Textiles can use benchmarking to compare its performance with the leading organizations within the same industry, a leading organization within a different industry and other recognized operations of best practice (Strategic Human Resource, 2018). To compare the organizations health and ...
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