Business Studies Project Xii
Business Studies Project Xii
The Human Resources department (HR department, sometimes just called "Human
Resources") of an organization performs human resource management, overseeing various
aspects of employment, such as compliance with labour law and employment standards,
interviewing and selection, performance management, administration of Employee benefits,
organising of employee files with the required documents for future reference, and some
aspects of recruitment (also known as talent acquisition) and employee offboarding. They
serve as the link between an organisation's management and its employees.
The duties include planning, recruitment and selection process, posting job ads, evaluating
the performance of employees, organizing resumes and job applications, scheduling
interviews and assisting in the process and ensuring background checks. Another job is
payroll and benefits administration which deals with ensuring vacation and sick time are
accounted for, reviewing payroll, and participating in benefits tasks, like claim resolutions,
reconciling benefits statements, and approving invoices for payment. HR also coordinates
employee relations activities and programs including, but not limited to, employee
counselling. The last job is regular maintenance, this job makes sure that the current HR files
and databases are up to date, maintaining employee benefits and employment status and
performing payroll/benefit-related reconciliations.
Human resource management (HRM or HR) is the strategic and coherent approach to the
effective and efficient management of people in a company or organization such that they
help their business gain a competitive advantage. It is designed to maximize employee
performance in service of an employer's strategic objectives. Human resource management is
primarily concerned with the management of people within organizations, focusing on
policies and systems. HR departments are responsible for overseeing employee-benefits
design, employee recruitment, training and development, performance appraisal, and reward
management, such as managing pay and employee benefits systems.[3] HR also concerns itself
with organizational change and industrial relations, or the balancing of organizational
practices with requirements arising from collective bargaining and government overall
purpose of human resources (HR) is to ensure that the organization is able to achieve success
through people. HR professionals manage the human capital of an organization and focus on
implementing policies and processes. They can specialize in finding, recruiting, selecting,
training, and developing employees, as well as maintaining employee relations or benefits.
Training and development professionals ensure that employees are trained and have
continuous development. This is done through training programs, performance evaluations,
and reward programs. Employee relations deals with the concerns of employees when
policies are broken, such as cases involving harassment or discrimination. Managing
employee benefits includes developing compensation structures, parental leave programs,
discounts, and other benefits for employees. On the other side of the field are HR generalists
or business partners. These HR professionals could work in all areas or be labour relations
representatives working with unionized employees.
HR is a product of the human relations movement of the early 20th century, when researchers
began documenting ways of creating business value through the strategic management of the
workforce.[6] It was initially dominated by transactional work, such as payroll and benefits
administration, but due to globalization, company consolidation, technological advances, and
further research, HR as of 2015 focuses on strategic initiatives like mergers and acquisitions,
talent management, succession planning, industrial and labor relations, and diversity and
inclusion. In the current global work environment, most companies focus on lowering
employee turnover and on retaining the talent and knowledge held by their workforce. New
hiring not only entails a high cost but also increases the risk of a new employee not being
able to adequately replace the position of the previous employee. HR departments strive to
offer benefits that will appeal to workers, thus reducing the risk of losing employee
commitment and psychological ownership.
Human resource management has four basic functions: staffing, training and development,
motivation, and maintenance. Staffing is the recruitment and selection of potential employees
done through interviewing, applications, networking, etc. There are two main factors to
staffing: attracting talented recruits that meet the organization's requirements and hiring
resources. HR Managers must create detailed recruitment strategies and have a plan of action
to put forward when recruiting. Next, managers can put strategies into place through hiring
resources, by extending out to find the best possible recruits for the team. Recruiting is very
competitive since every company wants the best candidates. Using tactics such as mass media
can grab the attention of prospective recruits. Training and development is the next step and
involves a continuous process of training and developing competent and adapted employees.
Here, motivation is seen as key to keeping employees highly productive. This includes
employee benefits, performance appraisals, and rewards. Employee benefits, appraisals, and
rewards are all encouragements to bring forward the best employees. The last function,
maintenance, involves keeping the employees' commitment and loyalty to the organization.
Managing for employee retention involves strategic actions to keep employees motivated and
focused so they elect to remain employed and fully productive for the benefit of the
organization. Some businesses globalize and form more diverse teams. HR departments have
the role of making sure that these teams can function and that people can communicate across
cultures and across borders. The discipline may also engage in mobility management,
especially for expatriates; and it is frequently involved in the merger and acquisition process.
HR is generally viewed as a support function to the business, helping to minimize costs and
reduce risk.
DEFINITION'S:-
Edwin Flippo:-
Scott:-
Michael Armstrong:-
HR plays a key role in developing, reinforcing and changing the culture of an organisation.
Pay, performance management, training and development, recruitment and onboarding and
reinforcing the values of the business are all essential elements of business culture covered by
HR.
Workplace stress is on the rise and companies are creating workplaces to be engines of well-
being. Experiencing stress at work impacts the individual worker and the worker’s
relationships with friends, family, and co-workers. The recent Surgeon General report on
Mental Health and Well-being reports 81% of workers say they will be looking for
workplaces that support mental health in the future.
2)Skills-Based Hiring Is On The Rise As Companies Recruit For Potential Rather Than
Degrees
Recent research by Remote shows skills-based hiring is up 63% in the past year as more
employers value experience over academic qualifications.
In addition to broadening the talent pool for employers, skills-based hiring helps to remove
career and salary barriers for over two-thirds of adults in the United States who do not have a
bachelor’s degree. For employers, skills-based hiring broadens the talent pool, increases the
speed to hire, and adds greater diversity of thought in the workforce.
This shift is accelerating as a growing number of professions, such as those in computer
support and software engineering, do not need a degree to perform their robs. The Burning
Glass Institute analyzed millions of online job listings and found that the number of jobs
requiring a college degree dropped from 51% in 2017 to 44% in 2021.
The shift toward skills-based hiring will accelerate in 2023 as skills emerge as the currency of
the labor market.
Flexibility is the ability to choose one’s work schedule and it no longer means just working
remotely. It can mean working four or even three days a week, while working longer hours
each day.
In an Executive Networks Global Research study of 1,301 workers, entitled The 2023 Future
of Working and Learning Report, when we asked what matters most in terms of flexible
work, more knowledge workers and frontline workers selected flexibility in when work gets
done over flexibility in where work happens.
GE Crotonville, one of the oldest corporate academies, is for sale. One of the reasons cited is
the need to deliver learning closer to where work happens.
EMERGING TRENDS:-
Work From Home is an acronym for “work from home”, which describes a modern working
arrangement where employees perform job responsibilities remotely, typically from their own
homes instead of an office. It offers flexibility, improved work-life balance, and cost savings
for employers.
Advantages:-
● Working from home can positively impact physical and mental health. It allows for
better control over diet and exercise, reduces exposure to workplace illnesses, and
provides a stress-reducing, familiar environment that fosters overall well-being.
● Although working from home can offer you the opportunity to balance your home life
with your job, it can also be challenging to create a distinct separation between your
career and personal life. Set clear boundaries between your work hours and personal
time, and communicate these boundaries with others in your home.
Disadvantages:-
Retainership:-
Retainership means engaging or retaining an outside expert to perform a specific task and or
for a specific time period. Similarly, a company which wants to launch an Initial public offer
engages merchant bankers to seek on the size, price, timing, etc.
Advantages:-
● A virtual team enables the workforce to share knowledge and expertise and enhances
cross function and interactions.
● It saves time and travel expenses
● Decision making and information sharing can be more objective or fact based.
Disadvantages:-
However, they also come with potential disadvantages, including limited client flexibility and
the risk of complacency. To make the most of retainer agreements, both consultants and
clients should understand the terms, scope of work, and pricing structure clearly.
Virtual Team:-
A virtual team (also known as a remote team) is a group of people who collaborate and share
information from geographically dispersed locations by using technology, such as video
conferencing and audio conferencing.
Advantages
Lower overhead expenses for the organization. Less expenses for the employees with the
absence of having to commute and other office relates expenses. Better work/life balance for
employees. Employees more flexible with working hours given there is no commute.
Disadvantages
By nature, members of a virtual team tend to be skilled at one or two specific tasks that they
spend most of their day focusing on. Usually this leads to independent working, with each
employee working on their own projects.
Flexible hours:-
Flexible hours tend to vary depending on a job's requirements, how the business operates
within its particular industry and the employee's particular preferences or needs.
For example, an employee can set their workday from 8 a.m.-4 p.m., 11 a.m.-7 p.m., 10 a.m.-
6 p.m. or any other time that suits them.
Advantages:-
The main advantages of flexitime for employees are: A better work environment with greater
satisfaction and motivation. Reduced stress and fatigue. Easier and faster commuting, rush
hours can be avoided.
Disadvantages:-
Flexitime Schedule
FIVE COMPANIES
1)COCA COLA:-
Department works to achieve this vital role through two methods: 1. Introducing (publishing)
the human resources philosophy within the company. 2. Developing a mental system of
atonement that is characterized by moderation and moderation, which helps in the formation
of international managers who are able to assume administrative responsibilities in the future.
2)TESLA:-
Tesla Inc (Tesla) is an automotive and energy company. It designs, develops, manufactures,
sells, and leases electric vehicles, energy generation, and storage systems. The company
produces and sells the Model Y, Model 3, Model X, Model S, Cybertruck, Tesla Semi, and
Tesla Roadster vehicles.
HRM:-
Tesla Motors is a company that is well-known for its innovative approach to the automobile
industry and its commitment to sustainability. But behind its impressive technology and
design lies a strong foundation of human resource management (HRM) practices that have
played a key role in the company’s success. In this article, we will explore the role of HRM
in Tesla Motors and how it has helped to drive the company’s growth and success.One of the
key challenges facing any growing company is attracting and retaining top talent. Tesla has
faced this challenge head-on, developing an HR strategy that is focused on attracting and
retaining the best and brightest employees. The company is known for its strong commitment
to employee development and its focus on creating a positive work environment that supports
employee well-being. This has helped to create a sense of loyalty and commitment among
Tesla employees, which has played a significant role in the company’s success.
3)NIKE:-
Nike, Inc. (stylized as NIKE) is an American athletic footwear and apparel corporation
headquartered near Beaverton, Oregon, United States. It is the world's largest supplier of
athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in
excess of US$46 billion in its fiscal year 2022.In addition to manufacturing sportswear and
equipment, the company operates retail stores under the Niketown name. Nike sponsors many
high-profile athletes and sports teams around the world, with the highly recognized
trademarks of "Just Do It" and the Swoosh logo.
HRM:-
On average for a long-term employee at nike it is normal for them to go through 5 different
positions before they find the perfect fit for someone
With over 56,000 employess the recruitment process need to be very rigorous and
detailed
HR Planning Impact
Interdependence of HR planning
Nike's commitment to growing the potential of its people and building leadership
capability is carried out in organization and talent reviews directly linked to the
business strategic priorities. In these reviews, leaders are held accountable for
improving the performance, potential, diversity, position continuity and cost of their
bench.
• HR planning helps you successfully meet goals, assess skill sets, and keep up with
social, economic, legislative, and technological trends that impact on HR in your area
and in the sector.
• Nike routinely completes financial and workforce plans to ensure they achieve
goals.
4)G SHOCK:-
In addition, Casio will continue to provide training tailored to each rank so that each
employee can acquire the basic knowledge and skills needed to carry out their roles.
5) ADIDAS:-
HRM:-
Adidas has implemented several more programs to motivate its employees as well.
One of them is the employee stock purchase plan that was extended to Greater China,
Taiwan and the Hong Kong in 2017. By end 2017, 45% of its entire employee
population was eligible to take part in the program and around 3600 participated. In
the near future, Adidas also plans to extend this plan to more countries. However,
ADIDAS’ effort in various areas to empower its employees have not gone
unrecognised. The top employer institute has awarded its offices at the Netherlands,
Spain and China for providing their people with an exceptional work environment.
The institute recognised Adidas’ people strategy and its learning and development
framework for its excellence and for promoting and encouraging employee mobility
across the entire organization. A unique Kinder Garten program was started by
Adidas at its headquarters in the nearby forest with 20 children. In October 2018, the
brand plans to open its secondary care centre on campus with spots for 138 children.
In this way, Adidas is implementing several beneficial programs that will provide its
employees with a convenient and collaborative work environment.
Meaning of E-Business:-
Electronic business (also known as online business or e-business) is any kind of business or
commercial transaction that includes sharing information across the internet. Commerce
constitutes the exchange of products and services between businesses, groups, and
individuals and can be seen as one of the essential activities of any business.
Definition:-
Coined by IBM's marketing and Internet teams in 1996 it is defined as the application
of information and communication technologies in support of all the business
activities and processes in the entire value and supply chain.
Meaning of E-Commerce:-
Definition:-
1)SNAP DEAL:-
Nature:-
Fashion, home and general merchandise account for a majority of the products sold by over
500,000 sellers on Snapdeal. Buyers from more than 3,700 towns in India shop on Snapdeal.
Products:-
● Men's Fashion.
● Women's Fashion.
● Home & Living.
● Kids Toys & Fashion.
● Daily Needs.
● Motors & Accessories.
● Mobiles & Tablets.
● Electronics.
Service Offered:-
We look after the complete catalogue services for Snapdeal. Ecommerce catalogues contain
large amounts of data in the form of product descriptions, manufacturer details, product
dimensions, product images, prices, and shipping policies, etc. It takes specialized skills to
manage this humongous amount of information. Maintaining consistency and accuracy of
We register the new account of sellers at Snapdeal Seller Central to proceed forward and also
take the brand approval and category approval to make your product online and make them
ready to sell.
Account launch and the promotion of uploaded products is done by expert team members
Our team of experts offer premium Snapdeal sales boost services that help drive traffic and
improve conversions on your Snapdeal product pages. Since this is an open competitive
marketplace we keep tabs on prices and help you make the best offers.
Functioning:-
Snapdeal hosts a wide selection of good quality, value-priced merchandise across fashion,
home, beauty & personal care, general merchandise, and other categories. With more than
200 Mn app installations, it is one of India's top online shopping destinations.Snapdeal allows
its customers to return or replace the products if: you received a damaged product; if the
product is not up to your expectation; and even if the product doesn't fit you. It is super
friendly and super accessible e-commerce which contributes to the best shopping experience.
2) AJIO:-
Introduction to AJIO
AJIO has become one of the largest retail brands in India. AJIO is an initiative of Reliance
Retail Limited in the field of e-commerce.
AJIO was launched at the Lakme Fashion week on Saturday, which was also attended by
Mukesh Ambani’s daughter, Isha Ambani indicating that the next generation is also a part of
the latest fashion business.
History
AJIO is a subsidiary company of Reliance Retail which was founded by Mukesh Ambani.
Currently, the CEO (Chief Executive Officer) of Ajio is Nair Vineeth.
AJIO is a popular Indian e-commerce platform that was launched in 2016 by Reliance Retail,
a subsidiary of Reliance Industries.
- The company was founded with the goal of offering a wide range of fashion and lifestyle
products to consumers across India.
- AJIO has since grown rapidly and is now one of the leading e-commerce platforms in the
country.
- The company's focus on fashion and lifestyle products has helped it to differentiate itself
from other e-commerce platforms in India.
- AJIO offers a wide range of products, including clothing, footwear, accessories, and home
decor.
- The company has also launched its own private label brand, which has been well-received
by consumers.
- AJIO has a strong online presence and is known for its user-friendly website and mobile
app.
- The company has also launched a number of innovative features, such as a virtual trial room
and a chatbot customer service system.
- In addition to its online presence, AJIO has also opened a number of brick-and-mortar
stores across India.
- Overall, AJIO has become a popular destination for fashion and lifestyle products in India,
and its growth shows no signs of slowing down.
Nature of AJIO
AJIO is a fashion and lifestyle brand by India’s leading telecom business and chain of retail
stores, Reliance Industries. AJIO brings to the customers the best of fashion at the best prices.
The brand offers hand-picked and unique styles to its customers and today it has emerged as
the ultimate fashion destination for millions of its customers.
Launched in 2016, the brand offers tough competition to giants like Amazon and Flipkart,
mainly because of the business model it has adopted. Reliance made use of the business
model used by Alibaba, typically, the O2O model for introduction and to make its online
retail store AJIO a huge success.The traders registered with AJIO can take orders online and
deliver the same online and offline. AJIO also offers in-store pickup to enable customers to
check for the products, choose as per their needs, and take directions from the store. This
reduces the wait time for delivery and enhances sales. Additionally, with online payment
facilities, customers can easily make payments. The timely sales help the platform get more
business
Products of AJIO
AJIO does sell original Nike products. AJIO, as an authorized and reputable e-commerce
platform, collaborates with various well-known brands, including Nike, to offer genuine and
authentic products to its customers.Ajio features over 5,500 brands that includes a portfolio
of exclusive international brands, owned-labels, besides homegrown brands, including Puma,
Superdry, Gap, USPA, Steve Madden, Levis, MarksandSpencer, Only, Armani Exchange and
Nike. H&M's India debut ushered in a culture of fast-fashion clothing.
Services offered byAJIO
AJIO is a shopping and lifestyle brand that is the ultimate destination for the latest fashion
styles that are handpicked and available at the best price that one can find anywhere.
These services allow access to users to purchase original products such as Clothes, Footwear,
and various fashion products and electronic solutions for women, men, and kids that are
available at the best prices. The users can purchase the products through the platform through
the multiple payment methods provided by AJIO.
● The shipping policy of AJIO: This policy is formulated by keeping in mind the
requirements and needs of the consumers at the latest fashion trends.
Therefore, AJIO makes sure that all the products are delivered to their consumers in a
timely fashion.
● The cancellation policy of AJIO: This policy allows the consumers to cancel the
order whenever they want and it can be done easily by sending an email request to
AJIO for the cancellation of the order.
● The refund and exchange policy of AJIO: This policy allows the consumers to
exchange their products or a complete refund of the cash/payment in case the
consumer is not satisfied with product quality.
● The privacy policy of AJIO: This policy is formulated by keeping in mind that the
company should not use the user’s information in any manner.
All the information provided by a user such as personal contact number, permanent
address, and credit or debit card information should not be disclosed to any third
party.
All the payments should be transacted through secure digital platforms which are
encrypted.
Conclusion
AJIO and Snapdeal has become one of the largest e-commerce brands in India just like
Amazon and Flipkart. It is also available as an app for Android and Apple users with a wide
range of clothes, accessories, and footwear.
The AJIO app provides a variety of categories such as Indie wear, ethnic wear, party wear,
casual wear, formal wear, maternity wear, lounge wear, fusion wear, and other categories like
necklaces, earrings, bags, belts, shoes, and many more.