HR Project

[Business Strategy Report]

Saint Leo University

[Sherri Lewis]

March 7, 2019

Student Signature: [Jeff Simpson]

Running head: Business Strategy 1

Business Strategy 3

Introduction

Company strategy can be simply put as an organizations long term plan to achieve particular business objectives. Successful strategic business plans capitalize on growth, strong competitive position, and positive financial performance and when a business strategy fails organizations must collaborate to modify the current business strategy. When organizations are implementing a business strategy it has to be able to differentiate itself from competitors and having a complete approach on how the organization will achieve these objectives. For emerging companies a basic business strategy would be the best approach to firmly concrete itself into the market and a basic strategy would consist of an organization focused on earning, sustaining and growing. One topic of concern for all organizations when developing a business strategy is to consider its employees. Employees are what drives operational success, financial performance, workplace moral, and employee satisfaction.

Company Strategy

Motor’s and More, Inc. operate under a highly aggressive business strategy called prospector strategy. A prospector strategy is a plan to be highly competitive and quick to produce new products and services first into the market. These companies do not waste time on soiled markets however the main key objective is to exploit new products and market opportunities. Basic practices for organizations that utilize the prospector strategy revolve around innovation and flexibility. Motor’s and More, Inc. is a company that strives on new product development and flexibility within organizational structure. With only 28,000 citizens in the community, the opportunity for buyer power to take control of the market is concerning. But will Motor’s and More, Inc. being the only small motors sales and manufacturer in the area we will be able to feed new products quickly into the market. We as a company have developed three key objectives to create a foundation for our organization which are:

Our Mission. Motors and More, Inc. have acquired the role as a highly competitive company in the small motors industry. We have are proud to be one of the smaller motor industry companies that thrives on innovation, growth and new product development. Our people are our greatest asset and none of our success wouldn’t be possible without all 116 of them. We are here to win in our core business of small motors and industrial accessories while staying cost effective.

Our Values. We are determined to be accountable and loyal to our customers as well as our employees. All 116 employees act with integrity and are driven to achieve excellence. We will strive to stay competitive through innovation in all emerging markets.

Our Objectives

Develop and Empower our People within the Organization. We emphasize growing our business through advancement opportunities and giving our employees the opportunity to voice ideas and opinions.

Establish New Product Development. We are focused on accelerating growth of our business through new product development and asserting into new markets quickly and efficiently.

Create Value through Innovation to Satisfy Customers. Through innovation and trust, we will create value for all necessary constituents along with building strong, healthy relationships with reliable customers

Human Resources Strategy Support

Strategy can be defined as simple as what an organization’s key executives hope to accomplish in the long run. Company performance is dictated by what type of strategy is taken and how the organization implements the strategy. For our company strategy to be successful at Motors and More, Inc. we need to have a correlating Human Resources Management strategy as well. HRM strategy is the pattern or plan that integrates the major objectives, policies and procedures into a cohesive whole. With our company strategy revolving around developing our employees, establishing new products and creating value, our HRM needs to be driven by how we can maximize those opportunities and continue to be successful. Motors and More, Inc. HRM strategy will need to focus on ways to fulfill employee satisfaction. Our employees are mentioned in every objective and they will be the backbone for us to be successful. Another concept that will be needed in our HRM strategy will be goals for employees. Management needs something that can be measured and employee goals can be that metric. Lastly, Our HRM strategy will need policies and procedures. Policies will guide all 116 of our employees on how to make accurate decisions and our procedures will be the specific directions on how to achieve those specific decisions.

Business Strategy 1

References

Ivancevich, J. M, & Konopaske, R. (2013). Human resource management (12th ed.). New York, NY: McGraw-Hill Irwin.

McCain, Ed.D, D. (2007). Motors and More, Inc. – A Progressive HR Case Study. Society for Human Resource Management.