Resource Management

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Introduction

Resource management plays most crucial role in the organization as it is required for conducting all the major operations and in turn supports in performing better. Further, resource requirement depends on the nature of business and every company focuses on efficient utilization of resources for enhancing market performance. Apart from this, physical along with human are the key resources which are mainly required in order to carry out business operations and by utilizing them in appropriate manner it become easy for organization to accomplish desired objectives. Apart from this, cost of employing advanced technology is quite high and sometime its failure has unfavorable impact on the business in the market. Moreover, various crucial elements are present which businesses operating in different sectors are required to consider at the time of managing resources such as its cost etc. For conducting the present study three different businesses have been chosen where one operates in agriculture sector, another one is engineering and last one is call centre. Various tasks have been covered in the study which involves effective use of human and physical resources, need of human resource planning etc. It also covers the the different objectives of the human resources planning such as cope up with changes, labour turnover, plans for expansions and assessing the future requirement which is helpful for the organisation.

Task 1

1.1 Different resource requirement of three profiled businesses

For conducting overall operations in effective manner it is necessary for different businesses to identify the resource required. For resource requirement depends on the nature of business activities and assists in accomplishing desired objectives. In case of agriculture business resources required are human and physical which involves machines. Stems as family owned basis operates on small basis but business requires human resources such as four permanent family members are the main employees of the business who carry out different activities. Physical is another resource where different machines and tools are required for conducting agriculture business. This business requires primary resources for mining and which is must be the main resource for this type of business and it is helpful in growing their business in a positive aspects. In case of engineering business also major resources required are human and technological. Main employees of the company are two friends and business partners. Apart from this, advanced machines are used for conducting manufacturing process. It also includes the manufacturing the electronic products with the help of different resources which is useful for the enhancement of the business and it creates a enhancement of this industry. At last in case of call centre also human along with technological tools are main resources which are necessarily required in order to carry out major operations. In short, resource requirement of the three different businesses are same but the level of technology they are using differs from each other and it directly depends on the nature of activities being carried out by companies in the market. It also covers the finance form other businesses which is important for survive in this type of industry so that the use of resources in proper manner is essential for the business. Further, all the three businesses requires material according to their preference of type of business which is important for the growth and development of the organisation. The family business generally uses the seasonal workers and they consider the facilities of the transport at a particular time so that they can achieve their goals on time.

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1.2 Key requirement to be considered while managing resources

Management of resources depends on the nature of business and the kind of activities being carried out. Further, in case of businesses operating in agriculture, engineering and call centre sector requirement are different which is considered while resource management. Requirement of agriculture business depends on the type of crops which and the scale at which business is operating. In case if business is operating on wider scale then more human resource is required along with technological tools. Further, proper management of these resources can directly save cost which is beneficial for the business in every possible manner. Apart from this, in case of engineering business the amount of manufacturing carried out supports in identifying the major resources required. Organization has to consider the cost of raw materials while managing the key resources and they are all crucial for the enterprise. It also includes the health and safety of employees at workplace which is to be considered by the management of the organisation. Further, the business must follows laws and legislation so that it does not create any problem at the time of issues. Moreover, in case of call centre the key requirement to be considered while managing resources is linked with the number of customers which needs to be served by business on daily basis. In case demand for customers is increasing then business has to hire more employees and through this overall efficiency of the organization can be enhanced easily. Information system is must be strong at workplace so that the employees can easily work in the proper environment. It also includes the specialist training which helps the employees to sole the queries of customers. Therefore, in this way these are some of the key requirement which needs to be considered while managing resources. So that it covers all the facilities such as storage facility for the agriculture businesses and which is helpful for them to manage the resources properly at the time of functioning.

Task 2

2.1 How use of physical resources is monitored and managed

Physical resources are necessarily required within workplace for carrying out large number of activities. Such resources reduce efforts of business and directly allows in accomplishment of desired aims and objectives. Physical resources are monitored by considering its overall cost when business has to analyze the overall cost and the outcome which it is delivering for instance through physical resource engineering business is carrying out production and business has to allocate funds for using this resource. Therefore, the overall income obtained must be capable enough of recovering this cost. Monitoring within company is possible by providing opportunity to employees to take responsibility in relation with use of physical resources. Further, monitoring quality of such resource is also possible and keeping records regarding use of same. So, with the help of this monitoring of the physical resource is possible for organization. On the other hand for management of resource appropriate plan is needed where management is possible by estimating the actual requirement well in advance. Organization must ensure that overall cost of purchasing such resources is recovered and in turn it can easily bring favorable results for the organization in every possible manner. Therefore, in this way physical resources are managed and monitored by organization for its betterment. Moreover, the physical resources are used effectively in monitoring and proper management of the resources in the organisation by the system of ordering and buying which includes the proper arrangements of the ordering system so that it will be easily analysed by the management of the organisation. It also covers the proper suppliers who provide raw material in which the company monitor all the process which is go through in the organisation so that the physical resources are effectively used for the management of those resources.

2.2 Impact of resource wastage

Wastage of resources within the workplace highlights that business is not able to recover the cost indulge into purchasing resources such as physical etc. Further, resource wastage has adverse impact on organization where it directly leads to decline in overall profitability along with rise in cost. Moreover, it is the ultimate objective of every business to utilize its resources in efficient manner so that market performance of the enterprise can be enhanced easily. Resources such as human and physical if not utilized properly leads to unfavorable consequences. For instance if business is not able to utilize human resource in proper manner then productivity of the enterprise will decline and in turn staff members will not prefer to carry out assigned duties in appropriate manner. Apart from this, without having appropriate resources no business can survive in the market and due to this reason its wastage can act as hurdle in accomplishment of desired aims and objectives in the market. The main unfavorable impact is associated with rise in overall cost when resources of the organization are not utilized in effective manner and due to this reason it becomes quite difficult for enterprise to focus on its desired aims and objectives. The wastage of resources at the time of goods are not delivered and sold at a particular time so that it leads to reduce in the performance of organisation. There is also an impact of the resource wastage is the loss of customer base because if the goods are not sold on particular time so the thinking of customer is that the products must be not be good so it leads to decrease in the number of customers. Due to the wastage of resources there is reduction in the profits of the business and the financial cost is also affected of the business which is a negative aspect for the company.

2.3 Cost of high profile technological failure

With the motive to carry out each and every operation in appropriate manner it is necessary for every business to employ advanced tools. Without adoption of modern tools overall activities of the organization cannot be carried out in proper manner. In case of technological failure overall cost increases where organization has to bear high cost and this in turn leads to decline in profitability level. Further, it is well known fact that to employ advanced tools business has to invest larger funds and in turn some return is expected. So, in this case when technology and advanced tools are failed then it leads to unfavorable outcomes where organization is not at all able to bear the overall cost. Due to this reason business enterprise has to take corrective actions well in advance so that major cost of employing advanced tools can be recovered easily and in turn it can act as development tool for the organization. In many cases it has been possible that companies are not able to recover the cost of failure and this shows inefficiency of enterprise to carry out major operations. Due to this basic reason business is required to indulge into proper planning so that it is not required to bear cost of technological failure. Apart from this, it can easily support company to develop its internal strength and in turn can allow in gaining competitive advantage also. Further, the technological failure in fire service control central system due to the over usage of the technology so that they have to pay high cost for that which is unbearable for the organisation. It also includes the unfavourable outcomes at the time of failure of technology as they employ advanced tools for the organisation so that they can invest a huge amount in the field of technology. If the techniques are not adopted by the management the operations of business can not be carried out properly which leads to reduction in the profits of the company.

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2.4 Use of ethical and sustainable resources

In the modern era activities carried out by the business are adversely affecting surroundings and due to this reason it is necessary to ensure that ethical along with sustainable resources are used for betterment of company. Apart from this ethical resources are the one which business has employed through fair means. Human as a resource has to be utilized by organization in appropriate manner and proper ethical guidelines have to be followed so that performance of the business can be well maintained through this. Moreover, organization must not employ such resources through unfair means and they must be used for fair purpose only such as for the betterment of society. Apart from this, resources must also be sustainable such as in case of engineering company manufacturing process carried out must not harm surroundings such as through pollution or any other unfavorable activity. Resources such as human, physical etc must be used in proper amount so that goal linked with its optimum utilization can be accomplished easily and in effective manner. This can have favorable impact on the brand image of business and in turn the major targets can be accomplished easily. Ethical and sustainable resources can surely support business to focus on utilization of all its resources and in can can built internal strength. It also covers the ethical code of conduct which is managed by the company to work in a positive environment which is essential for the survival of the organisation and it enhance the morale of employees so that they can work properly in a proper manner which is used by the organisation. It also helps in the advantage of marketing aspect so that it is helpful in managing the activities outside the organisation.

Task 3

3.1 Need for human resource planning in the workplace

Objective of human resource planning is to have adequate number of employees, forecasting future requirements and anticipate impact of technology, etc. Need of human resources' management is based on some elements and they are as follows:

Forecasting future needs

According to given scenario, in agricultural business owner has to train farmers before coming strawberries season. In engineering business sales, administrative team is ready to work. In call centre they should hire employees as per workload there should not be surplus of employees. It is also required to assess as is there in any shortage or surplus of employees in the undertaking, if there are less number of employees in the organisation so that it badly affect the work of the enterprise and if there are more persons at organisation which will increase the cost of labour so that human resource planning ensures that there is employment of right employees at organisation which will be beneficial for the working of the organisation and so that there is growth and development of the business is achieved.

Cope with change

Agriculture business should prepare its farmers before season and they should know about new seeds and government related updates etc. Engineer should be ready to deal with the latest technology. Call centre employees should be updated with the latest technology. Human resource planning helpful in coping to the new demands of the organisation which helps in growing the business.

Expansion of business

Human resources' management needed for expansion and diversification of agriculture, engineering and call centre business.

Increasing Investments

To grow in agriculture business one should has to invest in seeds and market. Engineer should have collection of all specialist machinery. Call centre must have strong IT department. All these business should require investments. HRP (human resources planning) manage all investments so that company can earn profit. Thus, in this way all the businesses make the investment and expand their business which is beneficial for their employees and management.

Protection of weaker section

Farmer should be benefited somehow in off season as well. Factory staff should be protected if any casualty happen. At the time of weaker section, all employee should provide their help to firm by financially and physically help.

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3.2 Theory of motivation apply to motivate people at work

The work of an authority in any organization is to get work done with the help of various employees. To do this task, manager should be capable and have ability to motivate employees to work. In agriculture business farmers belongs to weaker section of society. Manager should know how farmer will take interest to work fast. Economic benefits can attracted them and also provide moral benefits. For engineering business factory workers deal with lights and electricity so they should be benefited like if something happen with him, company will give money to their family members. Organisation should insured employees so that they complete their work without any fear. Moral benefits like; management provide them respect due to this, employees feel motived and easily give their best efforts to firm. Call centre manager should give their staff members proper knowledge about incentives, accommodations etc. On other hand, motivation totally depends upon needs of employees, working pattern of employees. It is not essential that if one's need is money so second also work for it with company. For a call centre, one can be a IT professional because he has an interest in this field that's why he took interest in doing good work. The management of the organisation apply theory of Herzberg's two factor theory in which there are two factors such as motivators and hygiene factors so that by those factors employees get motivated in the organisation and enhancement in their performance at workplace. Manager has to analyse behaviour of employee, intensity to work, desire of workers and according they should motivate people of their company so they can easily do their work for the organisation. The organisation must apply Maslow hierarchy of needs which includes the physiological needs, safety needs, self esteem and self-actualisation which helps to identify the needs of the employees and fulfil for the motivation of employees towards the work. Thus, in this manner the there is maximisation of the effective use of the human resources theories of motivation and it also effectively work in the organisation.

3.3 Evaluation of methods used to monitor and improve employee performance

The methods to monitor and improve employee performance can be different in different organisations. In agriculture business, they can analyse the productivity and efficiency of the employees. They can compare their performance with each other to develop a standard of performance. It can be used to evaluate as well as monitor the employees. They have to ensure that the productivity of the crops are better than the last season. In engineering business, there are unskilled labourers who work in the factory. In this business, they improve the performance of labour by providing different resources with their preference which is based on the work of each labour. It will be better for the company to adopt piecemeal system to evaluate and monitor the performance of the workers. Those employees who have been performing well should be given training so that they can learn new skills. It will benefit the company in the long run. The third business in the case scenario is based on a call centre business. The employees have to answer professional telephone calls and they require 2 weeks training before starting the process. The quality of the phone calls and conversation can be used as a performance measurement. They must provide training which can be internal and external so that there will be increase in their skills and knowledge and to learn the new ideas to handle the various situations at the organisation. Training to the employees increase the enhancement level and helpful for the work at organisation and that can be easily done by the employees. Further all the businesses must have the targets and on the basis of the targets they have to achieve the objectives of the organisation so that work can be done proper and without any issues. Moreover, all the company must have their strategies to improve the performance of employees which is based on the evaluation of their performance.

3.4 Effectiveness of the reward system in different business context

Rewards and recognitions play an important in boosting the morale of the employees in all the business organisation. The employees feel satisfied and it enhances hie performance. As per the agriculture business, the rewarding system can be very beneficial for them. They have only four permanent members and rest of the employees are temporary workers. The rewarding system of the Stems business should be based on performance based incentives. It will boost the morale of the seasonal employees and it will help them to increase the productivity of the business. This business have the rewards system such as bonuses to the labour which motivate them to do their best in this field and enhancement of their level of their performance. They have only five months season and the rewarding system can increase their revenues and profitability. According to the engineering business, there are only ten factory workers besides the two owners of the company. These labours are unskilled but they have the potential to learn the skills of the factory process. The third business of call centre business should used rewarding system as per the quality of the call and customer service provided to the customers. In this business, the management of organisation can provide pay to the employees which is based on their performance which is the best way for the reward system and promotion is also another option for them to keep the interest of employees of the organisation. They also have option of sharing their benefits regarding their performance they get from the company they can share it with their employees sop that it enhance their performance also and helpful for the organisation. Thus it can be said that reward system helpful in increase in the performance of the employees and enhance the morale of employees which overall benefits to the organisation in an effective manner.

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Task 4

4.1 Monitor the use of physical resources against performance measures and procedures

Tesco Company has been monitoring the use of their physical resources in their organisation. It includes goods, production resources, information technology and financial resources. Tesco Company has been Information Management System (IMS) in their organisation to allocate the resources. It depends upon the procedures and efficiency of the employees. Furthermore, the quality of the goods should be maintained according to the standards of the company. In order to accomplish this objective the company keep records of the physical resources allocated to different activities. The management has allowed the employees to take responsibilities for the efficient use of resources. Their productivity and efficiency is compared to analyse their performance. Apart from this, Tesco Company ensured that the use of physical resources by the employees are according to the procedures and requirements of the company. They have been using many techniques for monitoring like IMS, stock keeping system, sheets and machinery use records. The use and efficiency of the resources and compared from he previous years data to analyse them. Apart form this, planned dates are used to see their effectiveness. Tesco Company has kept the records of the physical resources with their supervisor and senior managers who guide the employees so that they can produce maximum output from the resources. To review the effective use of physical resources against the performance measurement and procedure by the customer feedback which is important for the review of the performance and it can be positive or negative which is based on their work for the organisation. It also covers the targets which is to be manage by the organisation on the basis of the requirement of the various resources at the time of functioning at the operations.

4.2 Analyse the data on employee performance

Tesco Company has adopted many methods to monitor and review their progress against the targets. They have taken into consideration the opinions of the customers in analysing the performance of the employees. The company has been 360 degree feedback system for the appraisal of their employees. For example, the store manager gets feedback from the other departments like Human resource department, finance department and marketing unit. The managers of the company use interview sessions to analyse the performance of the workforce and compares it with the performance benchmarks. The employees of Tesco company have been performing well in their tasks and this has helped the company to reduce their cost. It has increased the overall efficiency of the business. The employees are rated according to a rating system specifically used by the company.

4.3 Effective use of human and physical resources

Tesco has been using their physical and human resources very effectively. It has allowed them to reduced their cost and expenses. They have provided training to the employees so that they can perform to the best of their abilities and maximize the output of the company. Furthermore, they have set priorities for different resources, This has allowed them to manage those resources which are limited in nature. The control and monitoring system keeps a check on the use of resources. Human resource management focusses on the motivation and engagement of employees in the decision making. Tesco Company has performance framework which enables the management to compare and analyse the performance of each staff member. They have to work according to the standards and benchmarks of the company. They have been encouraging their employees to work according to the objectives of the company. For accomplishing this objective, Tesco Company has developed a positive culture in the workplace. The employees are allowed to take their own decisions and improve their knowledge. There has been good relation between the human and physical resources in the company. The senior managers help the employees to evaluate the need of the resources. Further, there is effective use of the physical resource at workplace including the tangible resources which is used by the company such as land, office equipments and manufacturing equipments. It also includes the information technology and its attendants computer, servers and so these all are included in the category of the physical resources. In order to manage effective use of the human resources so that it includes that the manager have to take the responsibilities of the area of staffing, compensation and benefits to the employees and the proper designing of the work. Thus, it can be said that there is effective use of the HR tech implementation of the techniques as it is the important part for the organisation. Further, the management of capital by implementing the employee rewards programme which is managed by the organisation and so that it improving the employee management. Thus, these are the effective use of the human and physical resources at the workplace which is essential for the organisation and so that there is proper management of the resources can be done through the various types of resources and the enhancement in the performance of the employees.

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4.4 Recommendations for improvement in efficiency

Tesco Company has been performing well in the industry. They have been using their human and physical resources for their advantage. They have also adopted many methods to increase the efforts of the employees in the business. The biggest problem in the company has been their hierarchical system. Tesco company has managed to build a positive in the company but their organisational structure has been a barrier for the employees. It will be better for the company to delegate more responsibility and duties to their employees. This will not only improve the efficiency of the workers but they will co0me up with new ideas and methods to enhance their performance. Some of the methods which can be used by the company to improve their efficiency are as follows:

Conclusion

It can be concluded from the report that resource management is important for a business. It allows them to reduce their cost and to increase the efficiency of the employees. Each business has it won requirement of rewarding system, monitoring system and human resource planning. Various case studies in the report highlights the importance of linkage between human and physical resources in the business. Further, in this report there is evaluation of the use of physical resources is managed and monitored with an evaluation of the effect of wastage of resources in the organisation. In this report, there is also assessment of the cost of high profile technological failures by the different software. The report also includes the use of ethical code of conduct and sustainable resources which are used at organisation. There is also assessment of the requirement of the human resource planning in the organisation. The theories of motivation also helps in boosting the level of motivation in the work of employees so that it helps in overall growth and development of the organisation. Thus, to make the effective use of the physical resources against the performance measurement and procedures. The performance of employees must be improve so that they can easily work on the basis of their level of increment.

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