Wait a second!
More handpicked essays just for you.
More handpicked essays just for you.
Case study - competitive advantage
Strengths and weakness assessment
Don’t take our word for it - see why 10 million students trust us with their essay needs.
Task 1: Investigation of the performance of Premier Group
1.1 Profile of a small business, identifying its strengths and weaknesses
Before venturing into performance investigation of a small enterprise, one must understand what is the scope and hardships faced by a small enterprise in the UK. Small companies are the big contributors to the economy of the UK. There are around five million small businesses in the UK, which is approximately more than 50% of the economy. (Rich, 2016) The enterprise must work in the right direction at a right pace to stand out from the rest of the business units. The management in an enterprise must know the strengths and weaknesses of the business enterprise to drive it through the thick and thin in the market.
…show more content…
Premier Group is a recruitment firm, which assists software companies and engineering companies and media companies in talent acquisition. It is founded in the year 2000 with an office in Manchester and now there are 4 offices of Premier Group till date because of its popularity. (Premier, 2016). Recruitment is the never ending process in most types of business unit, therefore recruitment companies always have business irrespective of inflation or recession. However, planning of recruitment is a crucial factor in the success of the business enterprise (Pynes, 2013). When the market is having recession, sourcing a right candidate for the right position becomes difficult. However Premier Group provide specialised recruitment solutions to specific sectors in the market. Therefore, they must have teams of skilled employees, who could provide the best recruitment solutions for niche talent requirement in specific sectors like IT or media. This helps to boost the goodwill of the company in the market, which automatically reflects on work inflow and profit margins. This simplifies to understand the financial success of this enterprise in the UK …show more content…
It is in to providing permanent staffing as well as contract staffing solutions to its client companies. (Premier, 2016) It was founded in the year 2000. Networx is a recruitment company providing staffing solutions to companies as well as assists candidates in placement in company. Networx provides services to the clients in all industries across the market. It is established in the year 2001. (networx, 2016). Both the companies are in staffing solutions but according to our research the scope of growth of Networx business is better than Premier group. This is because, Networx group provides services to all type of companies across the market. In addition to this Networx provides placement services to candidate, who want to be placed in any company. Obviously, the client base of Networx is larger than Premier Group. However, Premier group has concentrated client base with expertise in filling specific type of job requirements. Therefore, growth of both the companies is similar. However, Premier group would get better edge over other companies if they offer staffing solutions to companies as well as placement services to individual
Medium companies are kind of stuck in the middle of their organizational performance growth (Parnell, 2014).
A Review and Assessment of Its Critiques, Journal of Management, SAGE. Viewed on5th April 2011, at http://jom.sagepub.com/content/36/1/349.full.pdf+html
In this assignment I will be creating a report about two different organisations why businesses recruit and have vacancies. I will be going into detail about what internal and external sources of recruitment is, also I will list examples of methods in recruitment and explain advantages and disadvantages of these.
Recruiting is very major as the labor market continues to grow and change. Recruiting is the concept that targets on exploring potential before it is needed. In the recruitment process businesses will get better progress if the recruitment advertisements details all requirements, skills, qualities, and desired skills that the candidate will need to join to company. Recruitment also brings new ideas, perspectives, and a variety of different diversities. When a business recruitment team have an effective ad and chooses an applicant well, everything else will fall into place. With the recruitment system in full effect this means that the new hires will complete all job tasks and assignments to the fullest. The Human Resource recruitment team will earn and gain much respect from the workforce, higher mass production, and much confidence with finding good applicants for those companies that jobs positions need filled. More
This report will show how Sainsburys have used performance management to increase their ability to provide a quality service and gain a competitive advantage, it will also show how systems have been implemented to achieve this and what Sainsburys have changed in recent years to achieve the competitive advantage it was looking for, The main area Sainsburys have changed is there Supply chain which had a cost gap of around £60 million. It will also look at how the operations functions carried out by Sainsburys can be linked in with other areas of the business like Finance, Human Resource Management and Marketing. The main contents of this report will be based on the theory about performance management; it will start with a section explaining what the theory is and how it is generally applied in business. It will also contain my own experiences and insight into how operations have had an effect from my own viewpoint. It will have a conclusion on how I believe my experiences of operations management has helped me and or hindered Sainsburys. There will also be a report conclusion showing how I think Sainsburys operations strategies have evolved over time.
Tapinos, E., Dyson, R.G. & Meadows, M. (2005). The impact of performance measurement in strategic planning. International Journal of Productivity and Performance Management, 54(5/6), 370-384.
Andrew Mason made some of the key decisions during Groupon’s brief history. For example, Groupon collects “half of actual sales, not just profits, in exchange for the introduction to the new customers. In 2011 Groupon filled to go public and sell some of their shares. Also, Mason made the decision to bring in a customer relationship manager. This help the company keep merchants past one deal, which played a big role in the evolution of Groupon.
This paper provides a critical assessment of the performance of organizations which could be linked to economic theories and concepts. Through a review of various literature, research and conclusions of economists such as Friedman (1970), Coase (1937), Williamson (1981, 1998, 1975), Sloman et al. (2013), Powell (1990), Taylor (2011, 2012) and so on, the researcher presents a critical assessment of the microeconomic and macroeconomic concepts which were found to affect performance of a typical organizations. The concepts were also linked to other aspects of economics ...
Recruitment agencies are a very significant part of employment. It is unfortunate that many job seekers as well as employers tend to overlook these agencies. Recruitment firms can therefore be defined as outside firms that hold the responsibility of finding employees for employers. These are very valuable sources that can serve both the job seekers and job givers in equal measure if used correctly. BIS 2008 explains that most recruitment agencies operate under two types of recruitment. Firstly, there is the temporary contract which is usually flexible on both the employee and the employers’ side. Contract based recruitment vary from a few days to months and some to years. This type of contract however according to BIS 2008, always leads to the candidates become permanent employees in some situations. The other type of recruitment is permanent, whereby the agency helps one to find a job based on their skills matching the requirements of the jobs they have listed. Recruitment agencies are therefore external sources of recruitment that help in the
living in a modern society, often times we are given with task that we must complete in given period, and sometimes we are given task that is too much for us to handle on our own. With that, we are required to form groups with other individuals and work together to complete such given task as working in groups will significantly reduce the time required as well as the workload to complete such task.
Performance management aims to manage and improve individual performance with a vision to improving performance across the entire business. [Walter. M, 1995] defines performance management as the process of ‘Directing and supporting employees to work as effectively and efficiently as possible in line with the needs of the organisation’. It is very important to direct and support employees to work efficiently, and this can only be successful if a well-structured performance management system is put in place. But, nonetheless some organisations don’t get it
Small, medium enterprises (SMEs) are largest types business in the world, making up an estimated 99.7% of business. According to the Federation of Small Businesses (FSB) there are nearly five million existing businesses in the UK as of 2013. SMEs are a key contributor towards economic growth in terms of creating more employment, stimulating innovation and promoting social unity. SMEs are responsible for 47% of private sector employment, yet despite such global present there is still no agreed definition of a SME (Storey 1994). Bolton (1971) attempted to define them through a statistical and economic analysis. Classifications which are based on criteria, such as number of employees or annual turnover, however, do not remain consistent across borders. Given their size, smaller companies tend to be more intent on survival rather than expansion and profit maximisation. Smaller sized firms have always felt that the current reporting framework for IFRS is tailored more for the needs of larger companies and that the heavy cost burden it imposes upon them may not be entirely justified. In response to these concerns, the IASB subsequently issued the IFRS for Small and Medium-sized Entities (IFRS for SMEs) in July 2009. This standard offers an alternative framework which can be adopted by entities in place of the already extant full set of IFRSs or local national requirement standards.(Holt 2010) This essay will critically evaluate the impact of the IFRS for SME’s and whether or not it stands as the most suitable framework available for SMEs to use.
However, BSC is not a template that can be applied to businesses in general. In this circumstances, different market situations, product strategies, and competitive environments need different scorecards. The businesses must devise customized scorecards to fit their vision, mission, strategies, technology, as well as their culture. On the other hand, the Performance Prism is an alternative for the BSC which is worth considering for companies looking for a system to measure and manage their performance. Based on a stakeholder approach, it is more flexible and more integrative than other systems.
Small businesses have been considered the mainstay in countries around the world. In many European countries for example, the small business has been considered crucial to the success and flourishment of the country in general. Most individuals start upon a small business venture in the hopes of realizing ownership, independent profits and personal success. Small businesses can prove extremely successful when planned properly. Studies suggest that several small businesses, however, close or fail within the first few years of operation. This failure suggests that a majority of small business owners may not have as yet realized the crucial success factors necessary for successful implementation of a small business.
An organisation’s mission is the back bone of all strategic decisions; the mission will have an influence on all activities performed within the organisation, because if they aren’t achieving their mission an organisation is failing. The long term strategic goals of an organisation should directly aim to achieve their mission and these goals are what performance can be measured off. Without specific goals attempting to measure performance is pointless, and identifying who or what the main focus of these goals is the key to optimisation.