Developed business plan, You have already developed a

Developed business plan

Assignment Help Operation Management

Reference no: EM132152734

Miracles happen once in a while… and due to the funding of a generous donor, who is asking for nothing in return, you are finally able to open your dream business. Congratulations. The funding provided by this donor exceeds five million dollars and covers the expenses of three full-time employees and two part-time employees for five years each.

As a well-educated and conscious business owner, you have already developed a ten-year business plan. Your business plan is impressive and has received much praise from your mentors. While finances are now of little concern, you do recognize the importance of Human Resource Management, specifically a well-developed human resource strategy. You also know that “Strategic HR plans must be flexible enough to accommodate change. A firm with an inflexible strategic plan may find itself unable to respond to changes quickly, because it is so committed to a particular course of action” (Gomez-Meija, Balkin and Cardy, page 24).

For this assignment, you are required to present a strategic HR plan (in any creative format you choose - for example: Word, PowerPoint, video, Prezi, etc.), which examines environmental challenges, organizational challenges, and individual challenges that you need to prepare for. This strategic HR plan will need to be presented to your mentors and therefore, it is essential that you include the following components:

An introduction to your business:

What type of business?

What are your goals?

What are your mission and vision statement?

A description of various HR challenges you must prepare for:

Environmental challenges

Organizational challenges

Individual challenges

Select one of each of the environmental challenges, organizational challenges, and individual challenges and demonstrate how you will be flexible to accommodate this plan given a potential change.

For example, if your goal is to open a factory and productivity is measured by output (300 sweaters per day), what will you do if productivity decreases? How will you prevent this from occurring?

Reference no: EM132152734

Questions Cloud

What actors work to address the issue : What is the local issue and how does it relate to global issues? On a global level, explain what actors create/perpetuate the issue.

Define span of management : Define span of management. Why do some organizations have narrow spans and others wide spans?

Discuss the pace and style of the editing in the film : Discuss the pace and style of the editing in the film and whether it works to create a cohesive visual story.

Sourcing relationships within your own company : How would you prepare to be a more effective manager of IM/IT sourcing relationships within your own company?

Developed business plan : You have already developed a ten-year business plan. Your business plan is impressive and has received much praise from your mentors.

Family business differ from non-family owned businesses : How does strategic planning in a family business differ from non-family owned businesses? How could this information help a family owned business?

What does integrating cultural diversity : Present your final thoughts on leading and managing workplace diversity and what you learned about these concepts throughout this course.

Level of expertise and customer : Additionally, the workforce should possess technical skills, it should also have some level of expertise and customer/supplier relationship building.

Prepare a training handout for the next managers meeting : As the diversity manager of a global company, you have developed a deep appreciation for the importance of understanding multi-cultural teams in the workplace.

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