Starbucks Financial Competency Paper

Human resource departments today have a more distinct, calculated position within organizations, and human resource strategy influences the bottom line. “One of the challenges for HR leaders is convincing executive leadership teams that human capital is one of the most important resources in which the company can invest” (Mayhew, 2014, p.). Subsequently, “this return on investment is an essential part of the argument for including HR as part of an overall business strategy” (Mayhew, 2014, p.). Human resource departments utilize the information given to them from company executives and leaders, coupled with their respective expertise on all things personnel, and they plan and implement staffing concerns for the betterment of the organization. From preparing job analysis, to comparing inventory and forecasting, it is the responsibility of human resources to consider the objectives of an organization and fulfill those goals while operating the specific planning relative to HR.

Human resources plays a great part in the functioning of the company and could impact the success

Business environment is facing a rapid change that reminds the business management to focus on its core competencies to survive and sustain in the competitive environment. The core competencies can be developed by strategic human resource management. According to Armstrong (2006) employees are the valued assets for a company. The strategic human resource management is mainly developed in accordance to the fact that human resources need to be managed strategically for the company to enjoy sustainable competitive advantage.

Employees could be frustrated when a new technology or mode of operation is introduced at their place of work, and they are not educated on how to use it. It does not matter the level of experience. As far as it is new, even the senior-most individuals within the organization need to know about using the newly introduced service. If training is not adequately offered, the performance of the employees will be poor just as seen in Starbucks Company and they will no doubt decide to leave the organization and leave a gap which could have otherwise been filled by educating the employees.

Historically, operations management and human resource management have been separate fields, only interacting for administrative issues regarding payroll and other matters (Boudreau et al., 2002). However, human resources play an integral role in the development of strategic plans for organizations. Since no operations can take place without the human capital necessary to implement the operations, special attention should be paid to the linkages between the operational strategy and the human resource strategy of the firm. According to Ahamd and Schroeder (2003, p. 19) “human resources are

Human Resources often begins as very tactical policies, records, compliance, discipline, compensation, benefits, job descriptions, hiring, performance management (). Taken to the next level, HR becomes strategic, connecting employees to the business mission, values, and vision, in order to drive business results (). Employee goals and metrics align to the business strategy and rewards tie into results. Additionally, careful consideration is given to developing talent pipelines, employee succession plans, and career planning in order to respond flexibly to the inevitable work flow and staffing changes that all businesses experience ().

How Do Earnings Numbers Relate to Stock Returns? A Review of Classic Accounting Research with Updated Evidence

It’s all about the coffee for Starbucks. Starbuck’s core competence is in its ability to effectively leverage its coffee product to entice customers to be repeat customers. There are several ways that they have achieved this successfully.

Hello everyone, I am Lacey Merritt from Georgia. I live in very small town that is out in the middle of nowhere. I am taking this course for my Master in MBA with non-profit management. This course I see help me understand the financial for a non-profit.

Schuler, R. S., & MacMillan, I. C. (1984). Gaining competitive advantage through human resource management practices. Human Resource Management, 23(3),

Employees seems to be an extraordinary cost driver for unprofitable firms. Again more information about employee cost is needed for both profitable and unprofitable firms.

Turning toward the human resources management (HRM) perspective, companies now include HRM as a strategic partner in accomplishing the goals of the organization. The human resources professional does not operate in isolation, but is an integral part of any organization’s strategic planning team. The human resources director “is first a business partner of the organization and then an human resources (HR) professional” (Purushotham, 2009, p. 177). The scope of the HR professional is to interpret the strategic goals of the organization, and create total compensation packages that will attract and recruit high-value targets for candidacy while being mutually beneficial for both the organization and the prospective employee.

Starbucks was fully aware early that committed and motivated human resources were the key to the success of a retail business. Therefore the company had a great concern in selecting the right kind of people and made an effort to retain them. Consequently, the company's generous human resource policies reflected its commitment to its employees.

It is important for HR Management to transform from being primarily administrative and operational to becoming more strategic contributor because of the involvement of competitive advantages through a company s’ employees. Strategic HR managers need proceed with the professional growth by hiring employees with high potential and giving them opportunity to learn and make lot of experience from their job roles where can access to brightest future in the industry. Secondly, the executive succession where the strategic HR managers will hiring the potential successors and grooming them with experience and advancement to be ready for replacement of the owner of company. A company can be in right direction if proceed with the strategic succession planning. Third is the labor cost efficiency. Strategic HR department mainly focus on their top performers who effort the most to organizational goals and long-term company success. A strategic HR philosophy ensures the employees satisfied perfect where by paid to

The field of human resources (HR) plays a critical role in the performance and success of organizations. As organizations have become increasingly more complex, the effective management of HR has become even more important. The traditional perception of HR as only an administrative office is no longer valid. Instead, contemporary HR is directly involved with the internal organizational structure, business operations, and variety of functions carried out by employees on a daily basis (Reed & Bogardus, 2012). HR functions impact the organization’s strategic planning, improvement processes, and goal achievement. Six core bodies of knowledge provide the foundation for all of these HR functions. These areas are: strategic