Last one- Phyliss Young

Individual Project 3- Management 652

Strategy Formulation and Planning

American InterContinental University

LaShonda M. Canada

October 10, 2017

The global scope of trade is reduced by the internet, gone are the days that you should go to a bookshop to purchase a book or go to the mall to shop, technology has made the business scope easier and cheaper by online shopping sites such as Amazon which is an online retail company in the United States. It is considered the largest online company in terms of revenue in the United States. Amazon Company operates three segments namely; electronics, media, and other merchandise. In each of these segments, there are comparator groups companies such as the Wal-Mart, Oracle, Google, and E-Bay among others (Reuters, 2017).

Benefits and Compensation

Comparator Group Companies have utilized the internal market through motivating the workforce through coming up with the compensation plans that ensure the employees are rewarded based on the work performance. These actions help assist the initiative of ensuring that the customer is satisfied, the employee is motivated and satisfied with their work. Therefore, the companies also benefit from increased customer base which translates into increased profits (Thompson, 2017).

The Comparator Group Companies management also has incorporated the use of incentives to the executives; managers, as well as other employees as a way of encouraging the employees who ensure service delivery, are on time to the customers. This action was geared towards improving the service delivery reliability hence increased customer satisfaction. This action required the involvement of the employee unions as well as other members of the management. The compensation plan was also incorporated which stipulated how the incentives of the executive were to be calculated based purely on the individual performance. Some of the performance factors that were considered were; employee’s satisfaction and the timeliness in delivery of delivery (Thompson, 2017).

Business Leadership and Strategy

Leadership development helps in increasing the capacity of individuals to perform well when it comes to leadership roles. The leadership roles range from building capacities of others to perform, winning mindshare as well as building alignments that are necessary for the execution of organization’s strategies. Practices such as inclusivity developed by the comparator group companies through the involvement of all stakeholders in decision-making process especially in setting the priorities and need as well as in coming up with the rules and regulations help in avoiding resistance from the members. When these are adhered to then companies’ mission and purpose that aim at satisfying the customer's needs can be fulfilled (Denning, 2010).

Diversity

The major advantage of the Comparator Group Companies derived from various readings is that the Comparator Group Companies are more diverse in their business products and dealings. Besides, the Comparator Group Companies have a reputation that has been built over the years. The diversity of the Comparator Group Companies is driven by the belief that we live in a diverse world where different individuals from different nationalities, race, religious background, as well as age groups interact especially when it comes to the working environment.

This is the reason for several companies’ employing of individuals from different cultural backgrounds. The advantage of having individuals with a different cultural background working together is to bring on board different skills, potentials, taste as well as different ways of thinking which are necessary to satisfy the customers or clients who are drawn from different cultures (Ruiz, 2016). Based on this ideology, the Comparator Group Companies diversification on their brands and the establishment of a strong brand name provides them with an intangible asset that does not go away regardless of how long and how many times the companies uses the brand names.

Even in their diversified nature in business, the Comparator Group Companies are fully aware of the advantages of the scale and the scope of the economies. The decision-making process adopted by the Comparator Group Companies are also impeccable in the sense that, they have improved decision-making process when it comes to securing new business opportunities. In doing this, the Comparator Group Companies banks on their gained knowledge and experience brought forth by the experienced workforce. This is viewed as an advantage because the Comparator Group Companies operates businesses with different products. The knowledge-based approach used by the Comparator Group Company decision-making groups together with other advantages mentioned in this paper is the reasons that make the Comparator Group Companies successful or thrive in the foreign markets (Worldatlas, 2017).

Employee Relations

Employee relations refer to the efforts put forward by the company's administration to manage relationships between employers and employees. Comparator group companies have put forward employee relations program to ensure the most effective use of people to accomplish the organization's mission. This is in a bid for these companies to gain and maintain a competitive edge in the marketplace. The efforts focus on issues affecting employees, such as safe working conditions, supporting work-life balance, and pay and benefits (Rea, 2017).

Ethics and Corporate Social Responsibility

Social Responsibility refers to the act of being accountable to various people as well as to actions. The companies have recognized different responsibilities that they have toward various stakeholders within the organizations as well as outside the organization. In the current market, businesses go beyond selling their goods and services but rather recognize the social responsibilities that exist (Post, 2017). The Comparator group companies have identified the need to provide the customers and the clients with social benefits that are important for the improvement of the living standards in general. This is often done through initiating and implementing a project that would benefit the community. The companies have also recognized the need to offer quality services and products that do not cause harm to the consumers. On the part of the workforce, the companies have recognized its responsibility to ensure that the employees are comfortable at the workplace. This is done through providing a safe working environment as well as providing remuneration per the roles performed by each employee (Post, 2017).

Organizational and Employee Development

Organizational and employee development greatly depends on employee engagement strategies that a company incorporates in its leadership. The Comparator Group Companies have devised numerous strategies for engaging employees. The sustainability model adopted by the companies has been detached from the conventional boardroom decisions and the corporate initiatives. Instead, it is based on the selfless employee actions that ensure a better future for all the stakeholders. The companies have always striven to engage the employees in a manner that empowers and create opportunities to apply their passions and skills for good. Engagement of employees is also done through focusing on humanizing the brand and strategic messaging. Through employee communications, the organization engages them constructively in the formulation and implementation of company strategy (Thompson, 2017).

Engagement of employees at various levels has enabled the companies to enhance the rate of retention because the personnel feels respected, important, and crucial in the attainment of the mutually beneficial goals. It has successfully imparted and nurtured the culture of change. The employees were encouraged to change their behaviors and align them with desired organizational culture, values, and objectives. The nature of engagement has become a fundamental source of motivation for the employees, saving the company resources that could have been used. The high-level motivation has also resulted in increased and sustained productivity and profitability (Thompson, 2017).

Talent Management

The Comparator Group Companies have been at the forefront of managing their global talent. The process has created notable impact across the companies. By inviting openness and innovation, the companies have managed to enjoy authenticity. Management of talent in a transparent manner has positioned the entity in a path of sustainability because the personnel has been willingly contributing ideas. Creative talent management has united the companies by helping the entire human resource to have a common goal (Denning, 2010).

Like in many companies, the global talent management model plays an instrumental role in motivation. Employee success stories are highlighted as part of recognizing their great work. Resources are availed to business leaders to assist in recognizing employees in their respective teams that have demonstrated exemplary performance. The recognition, award schemes, and training assist the human resources to hone their talents and utilize them in accordance with the organization’s goals and objectives. Effective management of the talents has continually harnessed talents to the optimum level because of the simplicity and fun involved. For instance, the companies often use DOT materials and messages that are enticing and creative, such as the think fast and sharp animated videos. Such initiatives create a platform for exercising creativity and exposing talents. Ideally, the companies have largely benefited because talents are managed in a unified manner. Decentralization of talent management has enabled a clear understanding of individual abilities. In that respect, talents are utilized appropriately (Denning, 2010).

Technology

Digital strategy is beginning to refer to the strategy a company takes to become a digital company, where digital connotes deeper interactions with their customers, more customized and personalized offerings and interactions, data-driven decision-making, and organizational models and processes which are more nimble and reactive to changes in the company's environment. When the digital strategy is the imperative, companies tend to look to well-regarded digital companies such as Google, Amazon, and eBay as their inspirational models. The application of human resource technology has assisted the Comparator Group Companies to keep abreast with the ever-changing technological environment of the postmodern society. By use of the human resource technology, the companies have been able to prepare its workforce for the future. Comparator Group Companies have successfully transformed to a software-defined, mobile-first environment. With the help of the technology, it has been possible to create a pipeline of employees with multifarious skills needed for success at both personal and organizational level (Loeb, 2016).

The human resource technology at Comparator Group Companies has enabled the organizations to expand their corporate responsibility program by helping thousands of students to acquire the much-needed post-modern skills. The reputations of the companies have also been enhanced because it has done what very few organizations can achieve. Comparator Group Companies have positioned themselves as organizations that understand the future needs and takes necessary steps to handle impending challenges. Such events have helped in increasing the share price of the companies because many discerning investors seek to support forward-looking entities. Such steps have also assisted in strengthening customer loyalty (Loeb, 2016).

Best Practices in Human Resource Management

Human resource department is very vital to the success of any organizational activities or projects. This is because of the important function it plays in the management of the organization. Human resource department is responsible for the safe working environment, recruiting of the workforce that also takes part in the implementation of the organization’s projects. The way the human resource management handles the workers in terms of handling workers’ issues is central to the way the workers will cope with the work structures set for the operation of the organization. The management of skills by the human resource management leadership directly affects the motivation of the workers hence also affects the performance of the project and the outcome. If the issues put forward by the workers are handled in the right manner then positive improvement in the outcome of the project can be noticed in terms of improved productivity, service delivery among others. The main cause of much organization’s failure is often related to the poor human resource management. Therefore, for the projects to realize the intended outcome, there is need to improve the human resource management practices (Mutula, 2013).

Human resource management is responsible for hiring the workforce that is needed in implementing the project that an organization would want to undertake. The human resource managers conduct a process that is geared towards identifying the correct individuals for the job. It is the role of human resource team to determine whether an individual is equipped with the necessary skills, education, and experience required. Besides, the human resource management is also responsible for negotiating the contract of the employees. Therefore, considering these factors in the functions of the human resource management, it is clear how a company’s success is highly dependent on the human resource management (Mutula, 2013).

The Comparator Group Companies have implemented best practices by training their personnel on various issues. Knowledgeable personnel can be able to take informed actions when faced with different circumstances. The Companies employee training encompasses different aspects, such as Code of Business Conduct, human rights policy, engagement of stakeholders, steps for undertaking various processes, and industry standards. The increasing need to enforce best practices encouraged the companies to realign the human resource skill-set.

In a market characterized by high competitiveness, Comparator Group Companies have sought to create differentiation through high-performance and people competitiveness. Consumer experience has undergone a radical structural change. The strategic planning of the organization ensures that personnel can demonstrate best practices in service delivery. Some of the areas that are targeted include performance measurement, clear organizational values, and strong leadership. Implementation of best practices has since increased faith in administrative processes, high-level engagement in human resource functions, and the use of technology. Best practices in human resource management are responsible for the growth of professionalism and customer satisfaction (Thompson, 2017).

References

Denning, S. (2010, August 24). The biggest difference between 20th and 21st Century Management. Retrieved September 30, 2017, from The Leader's Guide to Radical Management: http://stevedenning.typepad.com/steve_denning/2010/08/the-biggest-difference-between-20th-and-21st-century-management.html

Loeb, W. (2016, August 9). The Future Of Retailing: The Technology Revolution Is Now. Retrieved September 30, 2017, from Forbes: https://www.forbes.com/sites/walterloeb/2016/08/09/the-future-of-retailing-the-revolution-to-technology-is-now/#4126554d4fc1

Mutula, M. W. (2013, May). Effects of Human Resource Factors on the Project Performance in Nairobi County in Kenya: A Case Study in Selected Organizations in Westlands. Retrieved September 30, 2017, from Bit Stream: http://ir-library.ku.ac.ke/bitstream/handle/123456789/7639/Mutula%20Martin%20Wambua.pdf?sequence=1

Post, J. (2017, April 3). What is Corporate Social Responsibility? Retrieved September 30, 2017, from Business News Daily: http://www.businessnewsdaily.com/4679-corporate-social-responsibility.html

Rea, A. (2017). What Is Employee Relations? Retrieved September 30, 2017, from Study.com: http://study.com/academy/lesson/what-is-employee-relations-definition-lesson-quiz.html

Reuters. (2017). Amazon.com Inc. Retrieved September 30, 2017, from Reuters: https://www.reuters.com/finance/stocks/overview/AMZN.O

Ruiz, J. (2016, October 23). Five Ways to Effective Multicultural Leadership. Retrieved September 30, 2017, from Alder Koten: http://alderkoten.com/5-ways-to-effective-multicultural-leadership/

Thompson, A. (2017, January 28). Walmart’s HRM: Compensation, Career Development. Retrieved September 30, 2017, from Panmore Institute: http://panmore.com/walmart-human-resource-management-compensation-career-development

Worldatlas. (2017). The Largest Online Retailers Of The United States. Retrieved September 30, 2017, from Worldatlas: http://www.worldatlas.com/articles/the-largest-online-retailers-of-the-united-states.html