Human resources Final Paper

Targeted Work Class

Lyndsey Burton

BUS 692: Strategies in Human Resource Management

December 5, 2016

Introduction

From the beginning of the company, it is clear that it started producing some products but as time went on and some products began to perform better in sales than other the company’s management. The company chooses to pursue the products that were playing well and put the company’s resources towards improving the production of this product. Specialization of the processes by the workers and the experience gained over time made the company perfect their manufacturing process, reduce wastage of material and spend less time in the production process while still maintain the high standards of the product produced. This technique of starting production with a range of products and then choosing to pursue the products that do best in sales can be traced from the grass roots of the company to present day. The company still produces a broad range of products and then decides on the qualities of their next generation phone from studying the qualities of the previous year’s phone. The company begins to sell better than the others than from this study the company’s engineering department is instructed to make the next years product from the template or the qualities of the last year's product that did best in sales.

The company has also kept its method of dividing production into different branches of the manufacture of hardware units for sale on the one hand and investing in research and development to the contrary (Jia 2016). This method started with the company from its beginning, and it still follows the strategy today. This technique has proved to be of great advantage to the company as it helps the company’s management to invest all or most of the company’s resources into one investment. The process shields the company from making significant losses and also improves the company’s chances of investing its resources in an advantageous idea than a company that just invest In a single investment just because the current financial trends claim that the investment is sound.

The shared approach to investing has helped the company spread its reached into the different markets of the world. The company produces more than one product that provides sound quality that will put the company at a better chance of making more sales. This approach helps the company market both of products that will broad the chance of increasing the radius of its reach in any market as the different products. The fact that various markets prefer the different products also means that the company’s products will penetrate any market faster than most of the other businesses that concentrate on one product alone.

Producing different products instead of concentrating on one product also plays a part in helping the company target different markets with their products. The company gives the option of targeting the market that is willing to pay a lot of money for a top quality product and with another product the same company can make a product to focus on the needs of the pocket discerning buyer (Grant, 2016).

Investing in research and development is also another facet of the company that was there since its beginning. Learning to the needs of a company’s customers through research is crucial for any business that is trying to compete with the other companies, dealing in the same product in the market. The constant changes in the customer's tastes and preferences could mean profit or loss for the business. By the corporation’s management respecting their clients and keeping a keen eye on the changes in the market Nokia manages to keep ahead of most other companies dealing in electronics. The company’s investment in research and development has significantly paid off over the years by providing the company’s management with high-value information about the state of the market and assist the market in the making, decisions. Research into the markets past behavior has helped Nokia to learn more about the global electronics field and to use this information the company has been able to make well-informed prediction of the future trends of the markets that have proved to economically fruitful and informative from a business point of view.

Meeting its Strategic Challenges for the Future

The company draws from the past reactions of the organization’s response to challenges that evaluates the situation that is causing them problems or the product that is not selling among their different products and choose to stop the production of that product that is not selling. Companies decide to invest more of their income in a more profitable product to stop making losses or reduce the chances of making losses and increase the likelihood of making a profit. In case the challenges to the company originate from a product that is not doing well in the market, the company could also introduce a new variant of the same product having corrected the bits of the result that the customers didn’t like with others qualities of another product that did better in the market (Jia, 2015).

Kinds of Workers

i) Experienced employees

For a company that focuses on pleasing its company’s customer at Nokia, the workers would have to be a combination of old employees, who understand the roots of the enterprise. Those employees will ensure that all the products coming from the company have some similarity of past outcomes to show the company’s unique touch on their products.

ii) Fresh and innovative employees

The company would also need young and eager employees who will introduce new skills into the workforce and who are more conversant with the current tastes and preferences of the market so that they can bring their input to the company and help capture a large variety of the products they produce. Observing other at the organizations, the team will need people with new ideas that are not yet in the markets. For example, there must be introduction of new products so that the company can still be relevant in the markets.

iii) Flexible employees

The workers will need to have a broad range of skills so that the company will have more flexibility to move its employees around the in a case of changes to suite particular market changes. The current competitive market calls for employees who can work in any environment and who are ready to shift places as well as professions.

Compensation system

The company compensation system will include a medical cover for all the employees and their immediate family members. This is a reflection of the company’s value of its employees and the desire to have them working at the top of their abilities (Grant, 2016).

References

Grant, R. M. (2016). Contemporary strategy analysis: Text and Cases edition. John Wiley & Sons.

Jia, J. &. (2015). Analysis of Nokia’s Decline from Marketing Perspective. Open Journal of Business and Management, 3(04), 446.

Kotler, P. B. (2015). Marketing. Pearson Higher Education AU.