Developing Human Resource Strategies Essay Example | Topics and Well Written Essays - 1750 words

Developing Human Resource Strategies - Essay Example It also comprises of a few recommendations along with an action plan in order to enhance the business objectives. Table of Contents Executive Summary 2 Introduction 4 Overview of Toyco 4 Toy Industry of United Kingdom 5 Internal and External Environment 5 Analysis 6 Overview of HRM and SHRM 6 AMO Model 9 Conclusion 10 Recommendations 10 Action Plan 12 References 13 Bibliography 16 Appendices 18 Introduction Overview of Toyco Toyco is a toy company which is currently operated independently by Martin Monk. It was established in the year 1950 by Harold Bennet. The prime objective of Toyco is to offer extensive range of toys to the children of the society with the intention to enhance the brand loyalty of the organisation (Michell, 2011). Even though, Toyco needs to implement certain SHRM strategies, it had to witness varied types of challenges in its human resource, marketing and finance related operations. Due to lack of coordination among the employees of the organisation, uniform org anisational culture could not be maintained within Toyco. As a result, the devotion and morale of the employees are also affected to a high extent, resulting in downfall of the profit margin of the organisation. In addition, this may also result in employee conflicts leading to increase of turnover and absenteeism rates. Along with human resource, the marketing department in the organisation is also facing diverse issues (Michell, 2011). Due to lack of allocation of human resources, the employees are observed to fail to offer various innovative products to the target customers, which might hinder the image of the organisation in long run. Moreover, due to lack of motivation, employee devotion and commitment towards the assigned task is reducing at a considerable pace, which in turn tends to hinder Toyco’s productivity and efficiency. As a result, the customer might shift towards other leading competitors resulting in the downfall of the total sales of Toyco, which might be de trimental for the organisation (Michell, 2011). Thus, these above mentioned challenges should be diminished with the help of various SHRM strategies within the organisation. Toy Industry of United Kingdom The toy market of United Kingdom is regarded to be highly competitive in the current day context. It includes many apparent competitors. Moreover, each and every organisation is currently observed to attempt to offer inventive products to magnetise large number of customers (Michell, 2011). It is essential to retain its market share as well as profitability in the market with the purpose to augment customer loyalty and responsiveness (Armstrong & et. al., 2009). Internal and External Environment The internal environment of Toyco includes its brands, its financial strengths as well as market competencies. Notably, the company serves its customers with a varied range of products such as reaction man, action girl, space geeks and bolbs among others of varying age groups. This signific antly contributes to the overall enhancement of its brand uniqueness and reputation in the market. Moreover, the company includes a strong hold over the European and Mexican market intends to enhance its distinctiveness among other competitors operating in same segment. However, the