The Rise and Fall of the J. Peterman Company Answer #1 On my point of view positioning statement of the J. Peterman Company could look like: “To romantic people from 35 to 55 who appreciate unique emotional feelings and who are intellectually and emotionally on a journey, J. Peterman Company is a provider of unique, romantic, authentic, excellent goods by catalog and Internet”. Core competence of the very company is again selling different goods that are associated with “authentic”, “unique”, “romantic”, “excellent”, “journey”, “wondrous” concepts, especially clothes, by catalog. Another competence that differentiates the company from others is corporate culture within it. Many had criticized the culture where employees had too …show more content…
Simply, company started to sell everything that is commercially profitable, which is big mistake in the long term. Rapid growth of the business always demands expanding staff and hiring new employees. Recruiting “right” and appropriate people is the difficult process and requires concentration. However, most of entrepreneurs, and J. Peterman in particular, does not pay much attention on human resources and the role of human resources in the growth of the company. As the company grows, it should develop. I mean that service, product, distribution channels, everything should be under continuing development and new technologies should be used. On that stage of growth Peterman lost the opportunity to expand through Internet. Answer #3 By the end of the 1996 Peterman started considering the expansion of business through retail. But at this time they were suffering from shortage of financial capital and again were in the process of looking for investors. In my point of view, it would be better to choose another way of expansion – E-commerce. Firstly, it would be cheaper and easier to implement; secondly, it has as much opportunity to attract customers as retail stores, that is, it’s also profitable. Investors required staff with credentials. Taking into account only career background of the candidate can harm the company from within. Top manager should manage people, keep the working atmosphere productive, and do not let the corporate culture to be
In analyzing the concepts discussed in Human Resource Management, I have found an interesting mix of education and forethought into the role of a human resource manager. Many of the aspect of human resource management such as HR planning, recruitment and selection, as well as, human resources development and labor relations all play a significant role in the success of any organization. There are many benefits to the learning that has taken place in this course that has helped me better understand HRM and its roll that will shape not only my position in business now but for future
Contemporary globalization of businesses and growing global market competition has made effective human resource planning as one of the major strategies to forge ahead and remain proactive. It can be said that an organization 's success lies to a great extent to the knowledge, skills, creativity, and dedication of its workforce. Every aspect of an organization needs human capital to drive its activities or operations to achieve individual strategic goals and objectives towards its purpose of existence, growth, and competitive status. Companies can compete at all levels of the marketplace through improved commitment not only through creativity, innovation, and research, but also human resource development (Truong, Heijden, & Rowley, 2010). In this regard, the human resource planning is needed to ensure a systematic analysis of human resource needs so that the right quantity and quality of employees are always available when required. Fundamentally, organizations are looking for the best people that would help drive them to their desired destination of achieving their missions. Therefore, it is important to develop human resource strategies to support organizational strategies, through measures such as forecasting human resource requirements, and effective strategic staffing. Technically, an organization 's mission, goals, and objectives drive its strategy and human resource (HR) and staffing strategy in an interactive manner. The purpose of this
Today 's fast-paced, competitive business environment has resulted in "rediscovery" of the human resource management function as a group that may be able to enhance firm competitiveness and performance by being "strategic" (Dyer & Kochan, 1995; Ulrich, 1997). Strategic Human Resource Management is a term describing an integrated approach to the development of Human Resource Strategy that will enable the organization to achieve its goals (Armstrong, 2005). Whiles strategy is an action that managers take to attain one or more of the organization’s goals. Strategy presents a general direction set for the company and its various components to achieve a desired state in the future. This results from the detailed
Human resource management demonstrated over time to be more than just the paperwork side of an organization, but a difficult position that needed a specific set of skills to provide success for both the organization and its employees. One of the most important roles and first task of the human resource department is handling the recruitment of employees. An organization will not be able to function without employees, but it is key for the HR department to find the person with the particular
According to Turban and King (2003), internet technology renders retailers an additional channel for branding, transactions and customer relationship management, the adaptation of which may drive down retailers’ transaction costs, and ensuring faster and higher quality of customer interactions, resulting in enlarging the existing markets and consumer base. M&S realizes this and have tried to sell clothing via high street stores as well as via internet though they have experienced cost cutting, rationalisation and management changes in order to revive their business in recent years. Internet technology might enable sustainable competitive advantage, but problems remain on how to physically organize their online retail operations.
Bottom-line, they put all their eggs in one basket; they failed to have a backup product to develop a quick revenue stream to further fund their long-term goal. However, without a crystal ball that was a difficult decision.
No matter what the size of a business, it is important to have a Human Resource Management (HRM) plan in place. According to Dessler (2013), small companies employ over half the population working in the United States and many individuals graduating over the next several years will either work for a small business or become an entrepreneur. Many small businesses do not have a dedicated human resource manager, so it is imperative that the business owner has a set of “practices and policies to carry out the personnel aspects” of the organization (Dessler, 2013, p. 2). In this paper, I will look at five areas of HRM necessary for a small business owner to have established policies, in order for the business to succeed and grow, “a company’s human capital is defined as the collective productive capacity of its employees” (Endres, Chowdhury, Camp & Shulze, 2013, p. 64). HRM is the process and function of effectively and fairly managing that human capital. The areas of HRM to be discussed are: recruiting, hiring, training, talent management and compensation, which all have an impact on the bottom and line play a key role in the overall strategy of the business.
In an era of increasing competitiveness, globalization, economic rationalization, deregulation, technological revolution and changing workforce there is an ever-increasing need for human resource management to be able to capitalize on the special challenges that this changing environment brings. For a company to be able to successfully keep ahead of the competition, human resource management is seen to be a significant contributor.
In today’s job market we see many human resource management changes and challenges evolving with the changes in a competitive market environment. One goal of the human resource department is to hire employees that will be as productive as possible, which in turn leads to more revenue and the success of an organization.
There are several important reasons of human resource planning that business organisation carry out regardless their size and it is important for the continuity of any business organisation to plan. However, in many business owners may not include human resource planning at the beginning of their business but later realise the importance of human capital and no business can survive without having competitive human capital.
This assignment is a portfolio, based on three current topics in Human Resource Management. The common theme of all the media articles I reviewed is the recognition of people as an asset by the organisations to achieve their strategic goals and objectives. It is observed that organisations are directing their efforts to recruit, retain and develop this asset.
People are the key to business success. However nowadays of business this is often neglected and people are seen to be a necessary expense. A successful business does not just rely on a person’s power instead it involves continuous effective teamwork and communication. Storey (1995) defines that human resource management is an individual approach to employment management which seeks to achieve competitive advantage through the strategic deployment of a highly committed and capable workforce, using an integrated array of cultural, structural and personnel techniques.
Human Resources constitute as one of the most imperative components of any organization, be it small scale business or a large conglomerate. Some of the key functions of the Human
Human Resource Management involves a wide array of functions that encompasses the time from when an employee enters an organization to the time the employee leaves the organization. The specific activities that are involved in HRM include job design and analysis, recruitment, orientation and placement, development and training of the personnel, employee remuneration, and performance appraisal (Aswathappa, 2007: 5). This paper shall focus on three main activities which are recruitment, training, and personnel development. When it comes to recruitment, it is incumbent upon the Human Resource Manager to bring into the workforce, employees that are both wiling and competent to accomplish specific tasks. The work of recruitment goes hand in
Supermarket e-commerce stores that have altered business practice grow very fast. The popularity of online supermarket increases every year. Keynote’s study (as cited in Hand, Riley, Harris, Singh, and Rettie, 2009, p. 1205) explain that in 2006, the percentage of online supermarkets are higher approximately 35% than previous year. It could be that customers will shop online only in the future if the popularity of traditional stores go down. In addition, many supermarkets such as Walmart, Coles, and Giant are starting to build e-commerce. Online supermarket grow