As the building work is going to be complete in July 1st and therefore there is a plan to start the business early in May 1st. To develop the business the Eastern Foods is facing the following challenges with regards to HRM, Accounting, Marketing and Operations Management.
(a) Overview of Challenges Facing Eastern foods:
Human resource Management (HRM) Human resource management is also identified as “personnel management”. There will be in detail study required of whole business for the recruitment of the new staff.
There should be study of hierarchy of the management level that will be necessary to manage the operations of business. And what skills will be obligatory for conducting the operations of business. The workers…show more content… The HRM and operation management are the key issue and should be addressed in effective way to run the business in smooth manner.
(b) Two key issues key issues and how they can be addressed:
To address the issue of operational management the management team which is responsible for the business activities that is going to be start on May 1st must be response in following manner
(Diagram 3) Service management functions
Before start of the business the following level of management must be optimized.
I. Service level management
There is monitoring and management of the quality of services and entity’s key performance in Service-level management. The key performance indicators range from coarse-grained availability and usage statistics to fine-grained entity-contained per-interaction indicators. There is comparison of actual performance with pre-defined expectations and determine suitable actions and producing meaningful reports in Service level management.
II. Financial management
In financial management there is effective and efficient management of money which accomplish the goals of organization. It is the specialized functions directly associated with the top management. The significance of this function is not only seen in the 'Line' but also in the capacity of 'Staff' in overall administration of a company. The financial management is defined differently in different fields.