My active x.pptx

‘’Members of the board’’

•Oliver Porvaznik 14011689

•Hussein Alsaaidi 14043449

•Vedat Aydin 14024299

•Nishananth Selvarajah 15015243

•Zara Akhtar 14036863

•Oluwarotimi Majekodunmi 15031041

MN4002 Fundamentals of Management - Year 2015/16

TM

“Respect our customers. Exceed their expectations. Deliver great products

at an unbeatable price.”

Our mission statement

(Blog.readytomanage.com, 2016)

Table of contents

● Brief company background

● Business strategy

● Financial reports

● HRM recruitment process

● Recruitment and selection

● Findings and conclusion

Brief company background

This is a fairly new company, it established 5 years ago by a group of colleagues. This business was running for years without much success, the current management stepped in and took over the business. Despite several difficulties, the current management has brought innovation and new products.

When did it start?

Despite the experience of the previous owners, the first two years were tough, in terms of revenue and profit.

- First financial year - Second financial year

STRATEGY 1 STRATEGY 2 STRATEGY 3

● Low prices● Medium quality products● Low quality check● Low marketing

● Low demand● Unsold stock ● Bad image● Low profit

● Higher prices● Higher quality check● Higher quality products● Increased marketing budget

● Created trust● Cleared stock● Lower profit than last week● Positive image

● Much higher prices● Full quality check● Higher marketing budget

● Negative profit for the first time● Still positive image● Fairly lower decrease in demand

Profit(£3,625)

Profit(£10,318)

Profit(-£57,475)

Business strategy

SWOT analysis

-Products image-Team-work & business integrity

-Lack of competitive strength-Financial vulnerabilities

-Rebranded company with huge potential-Market and product development

The Micro-environment analysis

-Lots of competitors in the market

-Price wars with competitors (Dr. Diane Hamilton's Blog, 2012)

Financial performances and forecasts

HRM recruitment process

“An essential part of the process of management is that proper attention is given to the efficient use of resources, in particular human resources.” (Mullins, 2010, pg.527)

- Why is HRM so important in today’s business? -

Why is it important ?

According to David Guest:

- Strategic Integration - Flexibility

- Commitment - Quality

(Guest, 1989)

Four policy goals

Employees development and

rewards system

“Organisations that encourage training & development make an intentional effort to improve, not only current performance but also future performance of employees”(Bloisi, 2007, pg. 218)

(Boddy, 2014)

What is the best reward system for our employees?

...miss-managing employees can be cost effective...

Recruitment and selection Who were we looking for?

● The position: Senior sales manager● Job analysis: Managing, developing, leading, coaching, meet the revenue targets, monitor results, working alongside our skilled employees and

reporting monthly directly to the board. ● Person specification: Customer service experience, IT knowledge, positive attitude, drive and determination, challenges lover, good communication

skills and team-work are essential.

● Position: London, United Kingdom

● Selection: selected candidates will be invited for a face to face interview

Job description

Findings and conclusionsWhat did we learn?

- Increasing prices not always work during a crisis

- The market can be really unstable sometimes

- Customers’ image may increases despite losses

3rd financial year 4th financial year 5th financial year

Report References

Boddy, D. (2014). Management: An Introduction. Harlow: Pearson Education Limited

Mullins, L. (2005). Management and organisational behaviour. Harlow, England: Prentice Hall/Financial Times

Dyson, J. (2001). Accounting for non-accounting students. Harlow, England: Financial Times Prentice Hall

Guest, D.E., Conway, N. and Personnel, C.I. of (2001) Organisational change and the psychological contract (issues in people management). London: Chartered Institute of Personnel & Development

HBS Working Knowledge, (2010). Yes, You Can Raise Prices in a Downturn. [online] Available at: http://hbswk.hbs.edu/item/yes-you-can-raise-prices-in-a-downturn

Forbes.com, (2016). Forbes Welcome. [online] Available at: http://www.forbes.com/sites/victorlipman/2013/01/29/why-development-planning-is-important-neglected-and-can-cost-you-young-talent/#24d556242ce0

Harvard Business Review, (2012). Why Top Young Managers Are in a Nonstop Job Hunt. [online] Available at: https://hbr.org/2012/07/why-top-young-managers-are-in-a-nonstop-job-hunt/ar/1

Any questions ?Thank you for listening