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Annotated Bibliography

Week 1: Evolution of HRM

Full reference:  Rotich, K.J. (2015). History, evolution and development of human resource management: a contemporary perspective. Global Journal of Human Resource Management, 3(3), 58-73.

Research objective and research question:  As per Armstrong (2006) the Human resource management can be stated as a coherent approach to the assets of the organization. The main objective of the research is to focus on the accountability in the telecom industry that ensures the long term goals. 

Outline of the method: This article discusses the historical development of the management. It also emphasis on the different evolutionary phases which outlines the different functions and also shape the development of human resource management. To gather the data, a researcher uses a mixed method for the evolution of HRM. AS it can be determined that with the increase in time the employees use different techniques and practice that leads to the goal of organization’s. It also emerges through sociological and psychological research. 

Discussion of the findings:  This article traced the different historical developments about human resource management. It also emphasizes on the different period and experiences of different countries. During the pre-historic, different methods can be used for the tribal leaders and these actions can be recognized to train and select the individuals for jobs. Later on, the theorist of different countries examines the nature of work systems and applied by professionals and management. 

Summary of the conclusions: From the above analysis, it can be determined that the Human resource management is an important function in management and it also evolves to become the indispensable sector. It consist the different factors such as human resource planning, Knowledge management, performance and quality management, industrial relations management, health and safety etc. 

Indication: It can be stated that if all the functions of Human resource management can be performed effectively and efficiently, then they can easily attain the goals. Through the employees can retain more and develop their activities. 

Week 2: The context of HRM

Full reference:  Malik, M. (2013). Impact of human resource management (HRM) practices on employee performance in telecom sector—With reference to MTS India. Asia Pacific Journal of Marketing & Management Review, 2(4), 41-45.

Research objective and research question:  As Per the study of Malik (2013), it can be identified that the practices of human resource management play a crucial in the telecom industry. It also emphasises on the different elements such as selection, the role of training, selection, job definition, appraisal and participation of employees. It also identifies the different practices for the Telecom industry, and apart from this it also enables the employees to perform their work effectively and efficiently. Through this study, they can understand the different practices and methods that lead to an increase in profit. For this study, the research question is whether the practices of HRM play a crucial role in increasing the satisfaction and productivity of employee or not. 

Outline of the method: By analysing the study it can be identified that the researcher can use the mixed method that includes both qualitative and quantitative method to evaluate the role of different practices of HRM. Data can be gathered through the 50 respondents by using the questionnaire. They also used the different tools to analyse the results of data. 

 Discussion of the findings:  After the completion of the study the Malik (2013), observed that there is a strong relationship between the performance of employee and correlation and that can be derived by the correlation.  Apart from this it also identified the different variables such as training (0.65), performance appraisal (0.47) and participation of employees (0.56). The above result indicated the performance of the employee, and that leads to the goal of the organisation. 

 Summary of the conclusions: From the above study, it can be concluded that several factors lead to the performance of employees. It can also be identified that the MTS use the different practices of HRM to increase the share of profitability and productivity. The different practices such as training, job definition, and selection and performance appraisal contribute towards the organisation. 

Indication: This article analyses the different practices of HRM, and it has been observed that with the high increase in salary the greater number of employees get attracted, and they retain in the organisations. Due to this, there will be a greater number of employees, and that leads to an increase in competition. Apart from this, certain factors help the employees to remain in the organisation; this can be people management, job definition etc. 

Week 3: Industrial relations: Frameworks and practices 

Full reference: Washimkar, G., & Deogaonkar, A. Impact of Employee Productivity Analysis on Service Quality Telecom Industry. International Journal of Scientific and Research Publications, 446.

Research objective and research question:  This main objective of the research is to analyze the relations of employees within the telecom industry. In the sector of telecom, the relations of employee become a crucial part and also judge the profitability of the business. The main goal of this article is to understand the positive and negative impacts of employee productivity due to which the differences can be caused. 

Outline of the method: To analyze this change it is essential for the researcher to study deeply. For this, they have to gather the true and real data from the various sources. They have to do the mixed research in which they can provide the questionnaire o their employees so that they can fill easily. Apart from this, they have to do surveys and take interviews of employees. Through all this, they can easily analyze the relations of employees with the organizations. 

Discussion of the findings:  By analyzing the data, it can assert that the telecom industry is going through the phases of consolidation of business that ensure the margins of profit. In the new era of business, technology plays a crucial role due to this telecom sector requires the employees to enhance their productivity level. It can also be stated that the level of productivity can be maintained through their relations, if employees maintain their positive relationship with their subordinates and superiors then there will be a positive relationship. On the other side, if they show attitude, ego then they are not able to perform well in the organization. This creates a negative impact. Due to this factor, there will be positive and negative relations of employees and that creates hampers the industrial relations. In addition to this impact of this ensures the ownership, trust, and belongingness within the telecom industry. 

Summary of the conclusions: From the above analysis, it can be stated that the impact of Employee productivity on service quality plays a significant role in the future. The enhancements of productivity initiate from the use of technology such as the internet, computer, and the skills within the workforce. If the telecom sector does not provide better services and incentives then it can be assumed that employees are not happy with them and that creates the negative impacts and effects the relationship with the organizations. So, to develop positive industrial relations, it is essential for the HR manager to provides all the relevant factors of HRM so that they can be motivated and perform better to attain the goals. 

Indication: To last for the long term, it is necessary for the manager to provide all the facilities so that a greater number of employees can retain and easily develop in their fields.  Due to this factor, the organization can earn a high rate of profit that leads to a high rate of productivity. If all this factor can be maintained then there will be better relations with organizations. 

Week 4: HR Planning in a changing environment 

Full reference:  Afzal, F., Mehmood, K., Sherazi, S.M.R., Sajid, M. and Hassan, M., (2013). Effect of human resource planning on organizational performance of the telecom sector. In Information and Knowledge Management (Vol. 3, No. 2, pp. 173-182).

Research objective and research question:  According to Afzal and others (2013), this article emphasis on the impact of human resource planning and on the performance of the organization. The main objective of this article is to determine the different determinants of human resource planning that contributes towards the performance of the telecom industry. It raises the question that whether the different factors of HRP constitutes a positive relationship or not. The main objective of this article is to check the continuation of human resources and determine the variables that lead to an increase in organizational performance. 

Outline of the method: To collect the data a survey of the questionnaire was employed that encompasses the population of different firms in respect to the telecom industry. The result of the study is based on the empirical evidence that develops flexibility and becomes a crucial part of the firm. The data can be gathered through the field study and they can adopt the different practices. 

Discussion of the findings:  As per Afzal and others (2013), the practice of human resource management is changing in the sector of the telecommunication sector. It can be analyzed that with the tools of HRP such as training, selection, incentives, benefits for the employee that leads to attaining the goals. Apart from this, it can be analyzed that human resource management is the strategic component and the practices that are distinctive in heir work. Selection, incentives, training provides positive measures and significant to others. In addition to this, it also stresses the role of human resource planning that adopts suitable practices in order to induce the best quality of skills. It also specifies the responsibilities, duties of the individuals that can be performed by them. The performance of an organization can be measured through productivity and financial stability and that leads to effectiveness. It also adopts the three practices that are to develop the abilities, skills among the different employees. It also ensures security and provides participation among the employees. Lastly, it motivates employees by providing incentives and benefits. 

Summary of the conclusions: It can be concluded that motivation is indicating a positive relationship with the other factors. The more incentives will be provided to the employees there will be more motivated. Apart from this, there is an increase in the level of technology and through that, they can train a number of employees. 

Indication: With the increase in the different factors of human resource management the employees can gain their knowledge and experience and that leads to the attainment of the goal. With this, it can be analyzed that a greater number of employees can retain and that leads to the growth of the telecom sector. 

Week 5: Work design challenges in a global environment 

Full reference:   Al-Maamari, M. H., Al-Mamary, Y. H., Nor Aziati, A. H., & Shamsuddin, A. (2015). Issues Related to Employees at Telecommunication Companies in Yemen. International Journal of Hybrid Information Technology, 8(12), 377-390

Outline of the research objective and research question: In this study by Al-Maamari, Al-Mamary, Nor Aziati, & Shamsuddin (2015), different issues related to the telecommunication companies are studied. It also evaluates the concept of Human resource information systems that can be used to record, collect, analyze and retrieve data that concerns the resources of organizations. It can also be stated that the function of human resources is accountable for developing, attracting and maintaining the workforce of the firm. It also supports the different activities such as maintaining the records of existing employees, evaluating the potential employees and creating the programs to develop the skills and talents. The research question for this study is whether the system of MIS increases the effectiveness of HRM practices or not? 

Outline of the method: The researcher uses the mixed method as the uses both primary and secondary source. The employees can evaluate on their basis of performance, and that can be gathered through the secondary source. Apart from this, they also use different systems such as HRM and MIS to gather information, and that leads to effective decisions making. It also carried the qualitative and that is based on the existing research. 

Discussion of the findings: After the analysis, the Al-Maamari and others observed that the management information system is one of the important tools in the sector. The main objective behind this is to provide the complete, reliable and timely to systems. It also provides the reports to their managers so that they can easily access the performance of the organization. The main role of a management information system is to manage the data, organize it and retrieve the information system. It also provides faster and accurate services and also affects the performance of employees. It can be stated that employee satisfaction is more challenging and also includes in the telecommunication sector. Apart from this, different factors hinder the performance of employees. On another side, the other employees are not satisfied while using the systems. This article establishes the stability of demands, autonomy in the jobs and also enhances the motivation. It also discusses the models that optimize the different level of motivations and well-being in the system of work.  Apart from this it also harmonizes the different interfaces between the different jobs. 

Summary of the conclusions: From the above analysis, it can be stated that the system identifies the challenges of work design and that can lead to the dissatisfaction of employees from mechanical jobs. The sector of telecommunication is the promising sector, and that can be available in the field of investment and trade. There is a competition in the service prices, and that leads to an increase in demand. The billing system plays a crucial role in the sector of telecommunication, and that is the combination of software, hardware that groups the information for the individuals and records the payments to the customer. The concept of emerging allows the designers to evaluate the different factors of job design and that can be changed according to the different jobs.  

Indication: In this article, the employees the different practices and also understand the system of MIS that provides the information. It also enables the worker to resolve their dispute and overcome different challenges. With the help of MIS systems, the telecom sector can improve the rate of the market, and it also attracts the employees. 

References

Afzal, F., Mehmood, K., Sherazi, S.M.R., Sajid, M. and Hassan, M., (2013). Effect of human resource planning on organizational performance of telecom sector. In Information and Knowledge Management (Vol. 3, No. 2, pp. 173-182).

Al-Maamari, M. H., Al-Mamary, Y. H., Nor Aziati, A. H., & Shamsuddin, A. (2015). Issues Related to Employees at Telecommunication Companies in Yemen. International Journal of Hybrid Information Technology, 8(12), 377-390

Malik, M. (2013). Impact of human resource management (HRM) practices on employee performance in telecom sector—With reference to MTS India. Asia Pacific Journal of Marketing & Management Review, 2(4), 41-45.

Rotich, K.J. (2015). History, evolution and development of human resource management: a contemporary perspective. Global Journal of Human Resource Management, 3(3), 58-73.

Washimkar, G., & Deogaonkar, A. Impact of Employee Productivity Analysis on Service Quality Telecom Industry. International Journal of Scientific and Research Publications, 446.

INTRODUCTION

In the present era, it has been seen that there are plenty of accounting mistakes are arises while recording of financial transactions. It is because of not having proper accounting system utilize by organisation during the time. The primary objective of using this system is to attain short or long term objectives that are set by the company. Management accounting is an essential aspect for an organisation that would assist manager at the time of managing their day to day operations. This report analyse specific effort that could promote proper understanding among various department among Hilti GB Company which is operating in UK. This project report aimed at providing crucial information about various accounting system and reporting used within an organisation. Apart from this, use of various costing method to calculate net profitability for the company is discussed in this report. Along with that advantage and disadvantage of using planning tools that can assist manager to control their budgets. Further, comparison of different management accounting system in resolving financial problems has been covered effectively in this project report.

• Activity 1

1. • Part A
   • P1: Concept of management accounting and its essential requirement

In every business organisation, it has been analyse that manager are always looking to have an effective accounting system that can assist them to record each and every business transactions into their respective statements. It would be reliable for them take necessary decision on that basis of this particular data. The manager are playing eminent role in summering and analysing the information that are collected during the time (Parker, 2012). The primary motive behind doing so is to attain overall goal of Hilti GB Company that has been set for the period. It has been determine that managers are using specific provision for accounting data in accordance to attain better data themselves before they would decide specific matters within the company. it would aids their overall management and profitability aspect to control overall function that are performed within an accounting period of time. There are valuable procedure which is useful for preparing management reports and accounts which would provide reliable and timely financial as well as numerical data those are needed by managers to make specific decisions. Management accounting is mostly generates monthly or weekly statements for an organisation internal department such as finance managers and chief executive officers. The scope of management accounting is very wide because of having plenty of features and characteristics. There is various key definitions that has been provided by scholars or authors. Some of them are mentioned below: 

According to J. Batty: “Management accounting is a specific term that can be used for the purpose of describing the accounting standard, system and provision that complied with certain knowledge and capability of administration in their activity of increasing profitability and losses”.

Types of management accounting system:

Cost accounting system: It refers to an essential system that is design by business to estimate overall cost for their products in order to attain profitability, stock valuation and cost control. The primary motive behind this particular system is to control total cost which are incurred in production of product and services within Hilti GB (Salterio,  2015). It tends to measure the best possible inefficiencies of necessary modification to deal with additional cost or expenses that are incurred during the time.

Inventory management system: It is one of the key accounting system that can be useful for tracking stock levels, sales or purchase delivery record of inventory within an accounting period. It would also assist in production sector to develop a work order and other production related documents. It is all about looking always to increase efficiency that can provide constant flow of units in or out of an available stock position. There are various types of management system tools which are used to record the invoices such as LIFO, FIFO and AVCO.

Job costing system: Another important accounting system used within Hilti GB. It is basically related to assigning and accumulating production cost of single units of output produced during the period. This particular system is useful in case there are various items produced by the company and have sufficiently different from one another. It does have their own number and production date mentioned on it.

Price optimisation system: This particular model is always consists of numerical plan that is helpful for computing overall demand which can vary at several price levels. This approach allows Hilti GB Company to make use of appropriate pricing as an effective profit lever that often is underdeveloped. It can be used to tailor pricing for clients segments through simulating targeted customer responses to cost chances as per the given scenario (Hasniza Haron and et. al., 2013). By the help of this system manager can easily be able to determine overall perception of customer towards the product price which are decided by the company during the time.

1. • P2: Different kind of management accounting reporting

In accordance to examine the company’s overall position or profitability in near future time the reports must be a key aspect that is taken into account. It happens to a valuable source of business intelligence that can assist overall business leaders to make reliable and accurate decision in coming period. However, these reports are basically only as valuable aspects in work that can goes into formulating and presenting specific data that has been collected from various transactions. It has been seen that there are various sources from which data can be gathered in relation to prepare a report (Agrawal and Cooper, 2017). The primary reason of recording data into their respective format is because these reports are presented in front of various investors and stakeholders that are making specific contribution in the various projects of Hilti GB.  The data collect for these reports are taken from various statements such as profit and loss, balance sheet, changes in equity and cash flow statement. It is more complex software that enables manager to control the entire legal reporting process. The overall decision regarding the growth and sustainability of the business is relies on the financial position of the company. There are various types of management accounting reporting that is prepared by the company. Some of them are mentioned below: 

Performance report: This particular reporting system is an essential report which is based on overall performance of company. These are prepared on constant basis by the concern department that is being financed through public capital. In most of the situation, this report is based on past and previous year data that has been collected by the manager to prepare the financial statements of the company. It would be produced for every employee of an organisation or such report can assist the department to assess the overall success of any project that are planned during the period.

Inventory management report: It is an essential reporting system that is based on accurate and reliable information which will allow company to discover current trends as well as examine the positive and negative aspects. The primary ways to prepare this report is to determine opening and closing stock information that has been kept by Hilti GB in their business operation (Laine, Paranko and Suomala, 2012). There are various ways to evaluate the stock position for the company such as activity based costing, economic order quantity and stock turnover ratios. It has been seen that a perfect inventory management strategy can assist in saving time as well as cost. It can also have real time to attain monetary benefits in coming time. 

Job cost report: Another crucial reporting system that can assist as well as accumulating producing costs of individual units of results. This particular job costing is helpful in various items produced that is having sufficiently different from one other. The reports consist of specific information about each group or individual product manufactured during the time. This would support this report, it would allow certain job numbers that assigned to individual items of expenses and earning incurred during the time.

Account receivable report: It is an essential aspect that is legally enforceable claim of payment that has been held within a business for products supplied rendered that to have customer is having ordered but does not paid for that product. This report consists of specific lists of unpaid customer invoices as well as credit memo as per the mentioned date ranges. The aging report is considered as primary tool that can be used through overall collection of personnel to analyse which bill is overdue for payment. This can be helpful for internal decision making because manager can easily be able to determine total time of gaining the outstanding amount (Ismail, 2012).

Budget report: It is an essential report that is prepared for internal purpose in order to make comparison of estimated as well as budgeted projection to that with actual one. It primary reason behind using this report is to known that income and expenses information can changes on regular basis for a company. This particular report often referred to a financial report that consists of detail information about the business owner plans that are made for the future.

1. • M1: Benefits of using management accounting system

In relation to all above discussed various accounting system that are equally beneficial for an organisation in managing and recording their information into their respective statements. In accordance to cost accounting system which is used to control the additional costs those are incurred during production process, whereas inventory management system is basic tool that tends to record all stock related detail information that are sell or purchase during the time. Similarly, price optimisation is another system that is used in business to analyse the overall perception of customer toward various prices strategies those are applied for the product offered by the company to them. However, Job costing system is beneficial to determine one single unit cost that is charged by company at the time of manufacturing process.

1. • D1: Critical analysis of the management accounting system and reporting integration

In context to earn maximum profitability in near future time managers are using various tools or system that can assist towards achieving their task more effectively. In this process both system and reporting are directly relation to one other. Cost related information is recorded by using costing accounting system. This would assist in analysing the strength of the company by using performance report that has been prepared by using data from costing methods. Whereas stocks related entries are recorded by using inventory management reports and system so that chances of minimum order or level of inventories can easily be identified. Further, job cost report or systems are equally reliable in evaluating the total cost they are investing in production of each group or units.

1. • Part B
   • P3: Calculation for the given portfolios

Cost is said to be value of amount which is incurred for the getting something. It is generally done in case of monetary valuation of various departmental data. The value which is given up for assets must be related with Hilti GB engineering company products. There are various specific costing methods which are used by the company in order to analyse total net income they are earning during the time (Budding, Grossi and Tagesson, 2014). The best ways to analyse the performance by using cost benefits analysis techniques which is a right option available with organisation in terms of collecting accurate information about increase profitability. It is an essential procedure that can be helpful for the manager to determine cost of producing products in relation to deal with a business by using proper resources in various stages of manufacturing. The data which is issues through using costing method is taken into account for the purpose of attain long term objectives. Some of the vital methods which can be useful for Hilti GB company is mentioned below: 

Marginal costing: It is said to be additional cost that is incurred by company during the time of producing one extra unit with the same amount of resources. It is also known as period costing because only variable costs are taken into account and fixed cost get written off to get contribution. The reason behind consider more accurate for decision making is because of its nature as there is not any difference occurs in case of any changes in variable cost in production process.

Absorption costing: It is another valuable costing method that can be used by Hilti GB Company to calculate net profit. It is said to be full costing method because both variable and fixed cost are taken during the time of production. There is a constant chance of variation in the direct material, labour or any other overhead those are used during the time. The results are analysing on the basis of over and under absorb concept that has been computed through using production cost and closing stock information (Amoako, 2013). In some situation, company does not thing this method a valuable techniques that can help in overall decision making on the basis of profit generated by the company.

Income statement using marginal costing

Income statement using absorption costing

1. • M2: Application of management accounting techniques and financial reporting document

In relation to determine maximum profitability for the company, it is essential to make use of right accounting techniques. It can help in calculating positive outcome for the company so that chances of losses can be overcome. Some of the crucial techniques are standard costing that is associated with the company for analysing their upcoming budgets. It can be evaluated by the help of using difference amount from the standard and actual costs those are incurred during the time. Similarly, another techniques is marginal costing which is used in case of additional cost incurred by the company while production of extra units.

1. • D2: Interpret the financial data for the problem in Annex B

According to the problem number 6 of Annex B, it has been analysed that purchasing price of €7.75 and the total cost of €9.00 could be recommended as an essential element that must be brought in the business. Moreover, actual comparison among marginal cost of manufacturing and buying cost of 7.75 must be taken into account. This would indicate that this particular element must be produced instead of bought. The primary reason behind this is that fixed costs of € 175000 which is collected from the total units of 50000*3.50. According to this outcome the overall capacity will remain unused and fixed cost could not been absorbed during production process. In case, BK 200 bought, the overall earning comes down by € 112.500 that is actual difference calculated from purchasing price on the basis of marginal cost such as (7.75-5.50)*50000.

• ACTIVITY 2

1. • Part A
   • P4: Advantage and disadvantage of using planning tools to control budget

In every business organisation, it has been essential for them to make proper planning keeping in mind about the profitability and growth opportunities. Planning used to play an eminent role in overall management of organisation resources so that valuable amount of outcome can be attain in near future time. Once the strategic action is worked in financial term through a well effective budget, it could be helpful as a technique for appropriate administration of organisation resources. A budget is a necessary management tool utilize in planning, monitoring and analysing the availability of finance for Hilti GB engineering company. It is an estimation of total cost and expenses that are going to be incurred in near future (Burns, 2014). There are various key planning tools those are effectively useful in controlling budgets that are prepared by company during the time. Some of them tools are discussed below: 

Forecasting tools: This particular planning tools assist the top management of Hilti GB engineering company to cope up with every uncertainty that are going to arise in future. It is entirely based on past and current trends of data which has been recorded into their budgets. There are certain assumption that are relies on administration experience and decisions. In order to analyse the budget issues this model can be more helpful to estimate future information as a valuable function of past data.

Advantage: This particular tool is having certain benefits that provide business more crucial information that can be useful to make future decision. In most of the situation, utilisation of qualitative data has relies on overall judgement made by the concern expert. 

Disadvantage:  The one of the biggest limitation of this tool is that it is entirely relies on estimations. But because of having qualitative nature of predication a business cannot always considered as more profitable within internal growth of the company.

Scenario planning tools: It is basically termed as strategic planning tool that can be use by Hilti GB engineering company to make flexible long term plans. It is in wide areas of adaptation and simplification of techniques which is implemented in group coordinating activity. The primary requirement of this tool is to enable specific scenarios as per the market demand. There is no any doubt about companies to make use of this tool to attain certain profit in coming time.

Advantage: By the help of this planning tools manager can adapt a systematic thinking ability. It would provide a positive mechanism before occurrence of any problem in critical situation.

Disadvantage: It has been seen that in present situation, scenarios are not so clear that can create lot of burden for manager to make utilisation of techniques in right point of time. It happens to be more underscore that can be a sufficient helpful aid to deal with uncertainty.

Contingency planning tools: It is valuable course of action that has been framed to assist an organisation to respond perfectly to a valuable future activity that care going to be occurring in near future time. It works as plan B, because it could be more reliable for company as alternative action in case alternative outcome fail to disappear (Klemstine and Maher, 2014).

Advantage: It is more accurate or reliable tool because manager can use quickly to take necessary steps to deal with a problem that would stop manufacturing of products. It is more essential for a profitable business because it can be work as backup plan in some critical situation.

Disadvantage: The biggest limitation of using this planning tool is its cost and time taking ability. Along with that the employees of staffs need special training to face any urgency situation.  

1. • M3: Analyse the use of planning tools and their application

From the above two project X and Y, it has been clearly seen that project is taking 5.8 years time to recover the amount, whereas project y is taking more than 6 years to recover their 8000 amount. Thus, project X is more reliable and it should be accepted for future planning. The Forecasting planning tool has been used to determine the changes occur in two given projects. 

1. • Part B
   • P5: Comparison of how organisation using MA system to resolve financial problems

Nowadays, it has been seen that there are various kinds of financial and non-financial problems are arising within an organisation. It would directly or indirectly impact the overall performance and productivity of the company. However, it is vital for manager to make regular analysis of these issues so that it would not affect the internal strength of the company. Some of the common issues that are generally found are mentioned below: 

Cash flow issues: It has been analysed that cash issues are more common problems that are faced by most of the business organisation. Capital in more valuable aspects for any successful business without which not any firm can survive for longer period. It can basically arise because of inappropriate flow of cash in the business. In some situation such kind of problem arises because the company is not able to pay their liabilities and it becomes outstanding.

Productivity issues: Another important issue that has been faced by organisation is related with their production capacity. They do not have sufficient amount of resources and capital to manufacture products.  Because of which company cannot be able to generate reliable amount of profit during the time. It can directly impact on the goodwill of the company (Sisaye and Birnberg, 2012).

All the above mentioned financial issues can be resolve by using appropriate MA techniques those are mentioned below: 

KPI (Key performance indicators): It is known as cover sheet for any business that helps in measuring a wide range of business activities from marketing to finance. It would keep close look on the financial performance which is essential part for the company to attain long term success.

Financial governance: It is one of the crucial management techniques which are based on government regulation. The main reason behind development of this rules and regulation is to provide guidelines to smooth operating of their activities.

Comparison: 

M4: Analysis of MA in resolving financial problems

It has been analysed that in accordance to attain better future or sustainability in coming time the company need to make utilisation of right accounting system. There are various financial problems those are related with inventory, cash and profit. These all can be overcome by using Key performance indicators and setting a benchmark for future losses. Inventory management related problems can be resolve through using just-in-time methods. Every method or techniques of management accounting can lead to Hilti GB to attain better potential or growth in coming period.

1. • D3: Evaluation of planning tools for accounting to solve issues

It has also been evaluated that in order to overcome financial issues that are uncertain for the company can also be resolve by using various planning tools. Some of them are forecasting tools that is based on future budgeted risks can be helpful for manager to deal with upcoming implications. In accordance with the contingency situation a plan B must be available with the company to overcome cash related problems (Zoni, et., al., 2012). All of these are equally valuable for attaining maximum growth and sustainability for the company in near future.

• CONCLUSION

From the above project report, it has been concluded that management accounting is a key element that helps any business organisation to record and summary their everyday business transactions. However, both management accounting system and reporting can help Hilti GB Company to deal with their accounting information. Further, use of right costing methods can give positive outcome in terms of net profit to the company. It has been suggested that with the proper use of planning tools budget related issues can be reduce. Also, financial issues could also be overcome by the help of appropriate accounting system and chances of attaining sustainability can also be enhanced in near future.

• REFERENCES

Books and Journals: 

Agrawal, A. and Cooper, T., 2017. Corporate governance consequences of accounting scandals: Evidence from top management, CFO and auditor turnover. Quarterly Journal of Finance. 7(01). p.1650014.

Amoako, G.K., 2013. Accounting practices of SMEs: A case study of Kumasi Metropolis in Ghana. International Journal of Business and Management. 8(24). p.73.

Budding, T., Grossi, G. and Tagesson, T. eds., 2014. Public sector accounting. Routledge.

Burns, J., 2014. Qualitative management accounting research in QRAM: some reflections. Qualitative Research in Accounting & Management. 11(1). pp.71-81.

Hasniza Haron, N., Kamal Abdul Rahman, I. and Smith, M., 2013. Management accounting practices and the turnaround process. Asian Review of Accounting. 21(2). pp.100-112.

Ismail, N.A., 2012. The impact of information technology on performance: The mediating role of management accounting systems. Jurnal Teknologi. 46(1). pp.27-44.

Klemstine, C. F. and Maher, M., 2014. Management Accounting Research (RLE Accounting): A Review and Annotated Bibliography. Routledge.

Laine, T., Paranko, J. and Suomala, P., 2012. Management accounting roles in supporting servitisation: Implications for decision making at multiple levels. Managing Service Quality: An International Journal. 22(3). pp.212-232.

Lim, M., 2011. Full cost accounting in solid waste management: the gap in the literature on newly industrialised countries. Journal of Applied Management Accounting Research. 9(1). p.21.

Parker, L.D., 2012. Qualitative management accounting research: Assessing deliverables and relevance. Critical perspectives on accounting. 23(1). pp.54-70.

Salterio, S.E., 2015. Barriers to knowledge creation in management accounting research. Journal of Management Accounting Research. 27(1). pp.151-170.

Sisaye, S. and Birnberg, J.G. eds., 2012. An organizational learning approach to process innovations: the extent and scope of diffusion and adoption in management accounting systems. Emerald Group Publishing Limited.

Van der Stede, W. A., 2015. Management accounting: Where from, where now, where to?. Journal of Management Accounting Research. 27(1). pp.171-176.

Ward, K., 2012. Strategic management accounting. Routledge.

Zoni, L., Dossi, A. and Morelli, M., 2012. Management accounting system (MAS) change: field evidence. Asia-Pacific Journal of Accounting & Economics. 19(1). pp.119-138.

• Appendix

1. • Working note for Absorption costing

Introduction

The paper discusses the product placement for the Milkabar, which is a chain of milkshake cafes targeted at the teenagers as well as their parents. The decision making and the strategies used by the Milkabar are also discussed. There is also a critical review of some research articles related to the topic for the better understanding. To get the depth of the topic case studies are also being discussed. The findings of these articles will also be mentioned. The challenges the company faces will also be discussed along with the controversies the business get across which operating in the market. The issues related to the product placement of the Milkashake are also to be taken care of to give the relevant information to the associates of the company.

Critical Analysis of Academic Papers

The authors (Matthes and Naderer) in their paper “Product placement disclosures: Exploring the moderating effect of placement frequency on brand responses via persuasion knowledge”, discusses the product placement of music videos. The presence of internet has made it very convenient to place the products online. The role of brands in the product placement is immense. The authors (Matthes and Naderer) found two convincing addition from their research, the investigation made the persuasion of in relation to placement of music videos. They also added how recall and recognitions are affected by the disclosures. The product placement disclosures have two important aims, they try to save the consumers from the stealthy advertisements and keep the consumer informed about the tactics of the advertisements. They also mentioned that that according to the EU compliances the companies has to disclose the product placement at the beginning and at the end of the program. The authors (Matthes and Naderer) found that subtly no knowledge can activated when audience doesn’t recognise the placement. The authors (Matthes and Naderer) also stated in relation to several studies that the view is divided about the brand memory due to the disclosure norms. But placement prominence can lead to the creation of brand memory. The authors (Matthes and Naderer) used the online survey based in the Austria. The variables used were the placement prominence and the disclosure norm.  The sample population was 527 and the respondents were engaged through music websites and the social media platforms. The survey was about 27 minutes long and the participants chosen were random. The findings of the research were as follows: there were favourable results for the effect of the disclosure on the product placement. There was no evidence or proof found for the activation of persuasion of knowledge. The attitude certainty can be found higher for the more familiar brands. The Milkashake can use the disclosures for making their brand noticeable.

The authors (High, et. Al., 2016) in their research on the Wal-Mart on the product placement discuss the product placement within a shopping complex. The research was done on the stores and the respondents were the customers of the Wal-Mart. The product placement strategies of the Wal-Mart drew people towards the stores. They were found to be very satisfied with the services. The data was collected from the surveys across several stores of the Wal-Mart. These strategies of the Wal-Mart can be applied in the context of Milkashake, to offer various discount and make the brand popular, the location strategy of the Wal-Mart can also be utilised.

The researchers (Briggs, et al, 2014) did research on the topic of the interactive product placement and its system. They mainly focused on the product placement through the videos as the medium. They found that the videos and online promotions are one o the interactive system of advertising as people find it interesting.  The data was collected on the online videos platforms. They just focused on the online videos platforms not on the social media which is growing day by day. The Milkashake have this option available for them also. They can also use the promotion techniques of this sort to make their brand popular.

The research scholars (Liu , et. Al., 2015)  focuses on the factors determining the efficacy of the social media in the product placement. The research used the two way models and questions. The questions were asked through the questionnaires through the social networking sites from the random samples. It was found that the social media plays an important role in the placement of new products for the millennial. As the brand is focused mainly on the teenagers, their connectivity on the web can be a great source of promotion for the company.

The research of the authors (Chaney, et al, 2018) was based on the product placement and the product memorisation and recall during the screening of the movies. There were several movies which were considered for the research and the advertisements at the beginning, at the intermission and at the end were considered.  It was surveyed though the audience and it was found that the beginning of the movie is the best time to place an advertisement for better brand memorisation. The Milkashake can use this technique in the movies which are for the children’s and their parents.

The researchers (Eagle and Dahl, 2018) compare the old and new media of the product placement. They tried to find out the differences on the attainment in the objectives through both the media. The surveys were carried out on random populace through the questionnaires. The findings of the papers were in favour of the new media for better product placement.  The new generation is the targeted customer base for the company; so they must use new media to reach out to the aimed public.

The authors (Chan, et. al., 2016) researched on the product placements across cultures. The research was based on the two countries sample of which one was of high assertiveness and the other was of low assertiveness. The cultural differences and the effect of product placement were examined. There were certain differences found the cultures with high assertiveness require dynamic product placement techniques. This is useful for the purpose of setting up the Milkshae cafes across different regions even within the country as the cultures are diverse.

In this study (Binder, et. al., 2019) tried to focus on the preferences and influences on the children’s eating behaviour through various interactive product placement. The children were asked about the food they like and why they like it. Most of the answers were like that they like the food which is preferred by their cartoon. The child preferences are influenced by these things. The techniques discussed in the paper are of utmost importance a for the Milkashakes they focus the kids and teenagers.

Case Study 1

Red bull is an energy drink company, based in Austria. Their product placement has been unprecedented. They targeted the sport enthusiasts through the sponsorships of the various sporting events around the word. Their sport marketing strategy has been qualified by some researchers as the best in the industry. The company integrated their advertisement strategy into the biggest extreme sporting events around the world. The sale of red bull doesn’t come from the general and super stores, but from the college parties and bars, etc. They also sponsor various events in the colleges, distributing free samples for the students. They also sponsor the music festivals which are very famous among the young generation. The produce the tag lines such as ‘Go big or go home,’ to encourage the youth which is adventurous. The focus of the Red Bull advertisement team is on the enjoyment of the audience, not on the product itself, which makes it very convenient. The tagline of Red Bull, “Gives You Wings” the youth consider it as that they are being offered freedom, the youth which strives freedom from various things and situations in life. The people at Red Bull have created a loyal fan base through their product placement. The Milkabar, can also learn from this case study of how Red bull created its loyal customer base. Their style of engaging the targeted audience is unmatchable. The targeted audience of the Milkabar is the teenagers and the parents, which they can also use to place their product through the sponsorships at the school events, at the super markets and the adventure parks. 

Case Study 2

Starbucks founded in Seattle in the USA is a chain of coffee house. The managers at the Starbucks use the strategy or technique of 4P’s that suffices the ace position of the company in the coffee chain industry. The four P’s determine the product, price promotion and placement. The managers at the Starbucks used this strategy efficiently to become the leaders and produced an example for others how effective marketing mix can be used to build a strong network of chain business and brand image. They also change their strategy according to the challenges and the competition. The systematic approach made the Starbuck a leader in the beverages industry. The location of the coffee houses is one of the major factors responsible for their growth. The Starbucks uses the strategy of premium pricing, which means that people conceives the high price with high value. With the changes in the business environment Starbucks launched its mobile app for making the experience more convenient for the customers.

Issues, controversies and challenges

The Milkashake can use the strategy of communication mix to place their product. The communication mix is the strategy used by companies to place their products for its targeted audience. The company can use various promotion techniques to promote the product like special discounts, etc. But there are some issues related to the product placements, the company need t take care of these matters. The first phase of the product design, the design should be free from issues that it should be away from the legal troubles. The distribution should also be convenient that the supply should be smooth. The company should be able to manage all the issues for better placement of the product. When there are issues related to the any part of the product placement would create the trouble for the company. As the company is planning to open 25 stores, they should get the favourable location, which can attract its targeted customers. The supply to these stores should also be convenient as it’s among the most important issues. 

The businesses also confronts controversies, they should be stay away from these as these controversies degrades the image of the business. The company can face controversies related to the milkshakes content as they have high sugar content. The controversies can also arise from the advertisements which some people can found provocative; this can cause the loss of sales or negative image for the company. The company should manage the standards of the items according to the compliance of the food and safety standards of the country. The company should take care of laws and compliance from the legal experts to stay away from the controversies as the negative branding would create a bad message for the customers. The use of ingredients should be to the levels as prescribed by the food standards in the country.

The company has the first challenge of the costing to compete its competitors. The other challenge is to create the awareness about the products to its targeted customers. The customers are the ones the product is designed for. The targeted customers are the teenagers and the parents, so product and the ambience of the cafe should be designed to suit them. The location should be where their reach is easy. The challenge is to establish the brand which becomes a household name with the use of taglines as used by the Red Bull to make the brand of eminence.

Conclusion and Recommendations

The report has analysed the product placement with the use of academic resources and their findings were discussed. There results were in favour of the practices to be used by the Milkashake, to place its product. The case study of the energy drink giant Red Bull was discussed to give the preview of the strategies which Milkashake can get information to its own benefits. The challenges were also discussed which the company faces in this intense competitive business environment. The issues with the product placement were also elaborated along with the controversies the company might face, and the measures to tackle those controversies were also elaborated.

The Junior Marketing Manager get to across various companies and read their case studies. From his experience through this period of the research, it is recommended, the Marketing Manager should design the ambience of the cafe which should attract the teenagers and there should be a separate section for the parents who if wants can sit there. There should be a tagline that should be an appealing one, which attracts the teenager and that they should relate themselves to it. The company should run sponsorship campaigns to create the awareness about the brand, they should engage in the events where the teenagers usually go. The menu should have some catchy names some can be named after the superheroes or the fairy characters which the teens find appealing. The wifi facility is also a must have as the youth is very much socially connect every time. There is one thing that can give us an advantage over the other, by putting sugar free shakes in our menu for the health concerned customers. There should be a period of loyalty rewards to build a loyal and satisfied customer base. The one of the most important tool is the feedback system; there should be a system to ask the customer about the satisfaction of the services offered by the company.  These things should be put forth as my observation, they will improve our business.

References

Binder, A., Naderer, B. and Matthes, J., 2019. Do children’s food choices go with the crowd? Effects of majority and minority peer cues shown within an audiovisual cartoon on children’s healthy food choice. Social Science & Medicine, 225, pp.42-50.

Briggs, C., McBurnett, H., Galindo, D. and Knuth, F., Cinsay Inc, 2014. Interactive product placement system and method therefor. U.S. Patent 8,893,173.

Chan, F.F.Y., Petrovici, D. and Lowe, B., 2016. Antecedents of product placement effectiveness across cultures. International Marketing Review, 33(1), pp.5-24.

Chaney, I., Hosany, S., Wu, M.S.S., Chen, C.H.S. and Nguyen, B., 2018. Size does matter: Effects of in-game advertising stimuli on brand recall and brand recognition

Eagle, L. and Dahl, S., 2018. Product placement in old and new media: examining the evidence for concern. Journal of Business Ethics, 147(3), pp.605-618.

High, D.R., Chakrobartty, S. and Taylor, R.C., Walmart Inc, 2016. Apparatus and method of monitoring product placement within a shopping facility. U.S. Patent Application 15/061,265.

Liu, S.H., Chou, C.H. and Liao, H.L., 2015. An exploratory study of product placement in social media. Internet Research, 25(2), pp.300-316.

Matthes, J. and Naderer, B., 2016. Product placement disclosures: Exploring the moderating effect of placement frequency on brand responses via persuasion knowledge. International Journal of Advertising, 35(2), pp.185-199.

Robson, K. and Pitt, L., 2018. People of walmart: Targeting the world’s largest retailer and its customers. SAGE Publications: SAGE Business Cases Originals.

Venkatesan, R., 2017. Executing on a customer engagement strategy.

Reflective Statement

I get the understanding of the product placement through various articles and the books. I read about the topic in depth from the books related to the topic and the research papers, which helped me a lot while writing this paper, these were the sources I used while writing this paper.  The key wors used by me for finding the relevant research articles were the product, placement and also checked the credibility of the source through the citations.I did a thorough analysis of the papers notes the important information through them and also analysed them critically which is reflected in this paper of mine. I also read several case studies about the companies which has been successful in placing their product in the marketplace. The most astonishing and amazing case study were of the Red Bull Corporation, how it gained market through various unprecedented techniques of marketing. This was a great learning experience in this field of study and knowing how the good placement of products can take the business towards the highs. The learning about the controversies the companies faces and the challenges were a difficult task to access. I enjoyed being reflecting the role of the Junior Marketing Manager and put forward recommendations from my understanding.

Introduction

Marketing refers to the activity in which the company develops plans as well as strategies to promote the services and products. Marketing is an essential element and plays an important role in the development of the business. Face to face marketing is the process in which the company promotes its services and products through verbal interactions. The marketing skills and techniques are used by the salesperson to increase the sales of the company. Whereas, virtual marketing is the marketing technique in which the company makes use of online sources for promoting the services and products. Teams working in different places will find virtual marketing much more effective than virtual marketing. 

Virtual Marketing (For)

The Marketing Director of the organisation should plan to build a team which involves in virtual marketing method. In today’s business era, virtual marketing is the most common method of promoting the products of the company in comparison to the face to face marketing. Virtual marketing includes a well-developed structure and strategies of promotion. It includes the development of the social networks which helps the company to spread as much information about the product and also reach out to a large number of customers. it becomes easier for the company to share the product related information and also the information regarding the company (Khaneja, 2016). Marketing through online modes reduces the cost and expenses of the company. This helps the company to reduce the investment and also create an international reach. Being the marketing manager, I find virtual marketing as an asset for the ABC Company.

(Source: Cartwright, 2018)

According to Fraile, 2019, Virtual marketing helps the customers and the audience to interact with the company and also view their developed image in the market. Awareness about the products and other related elements is possible through virtual marketing on a regular basis at every location including Melbourne. Nowadays, the development of the apps has helped the companies to make it easier for the customers and the audience to reach out to the wide variety of the products offered by them. Virtual marketing helps to create a brand image of the company on a global level. For example, the positive comments and insights of the customers on the online sites helps the company to influence the buyer behavior and target a large number of customers in the market (Fraile, 2019). According to me, reaching out customers becomes easier with the help of virtual marketing.

Virtual Marketing (Against)

Virtual marketing can be less effective in some cases in comparison to the face to face marketing. As the internet and related devices are used by almost all the customers and audience, there are some regions and areas where reaching out the audience is possible through face to face interaction.  It can create certain problems and issues for the company if the content of advertising is not much relevant. The negative comments of the customers can create a bad image of the company and can create a heavy loss to the business. The thinking of the customers sometimes is that what is shown over the online sources will not be the same which they would receive (Bostanshirin, 2014). Virtual marketing is not much effective in case of analyzing the preferences of the customers. Verbal interactions i.e. face to face communications helps the company to analyze the preferences and choices of the customers and gain their reviews over the product. I find that virtual marketing has some disadvantages in comparison to face to face interaction with the public. 

Counter-Argument and Rebuttal

Being the marketing manager of the company, plans should be structured and developed in such a way that it focuses on face to face communications with the customers as well as on virtual marketing. This will help the ABC Company in reaching out a maximum number of people and increase their sales through effective marketing.  In the words of Bala, & Verma, (2018), Both the methods are effective and should be equally focused on, but it is noticed that the benefits of virtual marketing are more than that of the face to face interactions with the audience. Combination of both methods would be beneficial for the company. There are some areas in which face to face marketing of the products is not easier, in such case virtual marketing enables the company to communicate with the customers and the audience. Virtual marketing is one of the beneficial and smart ways of advertising the products and benefits the company to a great extent (Bala, & Verma, 2018). 

Conclusion

From the report, it has been concluded that virtual marketing is more beneficial than the face to face marketing. Virtual marketing helps the company to reach out to a large number of customers and is a time-saving method of marketing the products. Whereas, face to face marketing is the old method of marketing, but is more time consuming and even costly method of marketing. Teams working in Melbourne, Shanghai, Los Angeles, and Banglore should initiate steps for marketing the products virtually as it is much effective way to promote the products of the company.  

References

• Bala, M., & Verma, D., 2018. A critical review of digital marketing. [Online] ResearchGate. Available at: https://www.researchgate.net/publication/328253026_A_Critical_Review_of_Digital_Marketing. [Accessed: 11 April 2019]

• • Bostanshirin, S., 2014. Online marketing: challenges and opportunities. Proceedings of Socioint14-International Conference on Social Sciences and Humanities. pp. 783-789.
  • Cartwright, H., 2018. The Winning Formula For Successful Digital Marketing in 2018. [Online] Multi Channel merchant. Available at: https://multichannelmerchant.com/blog/the-winning-formula-for-successful-digital-marketing-in-2018/. [Accessed: 11 April 2019]

• Fraile, A., 2019. What is viral marketing? Advantages and examples. [Online] Cyberclick. Available at: https://www.cyberclick.es/numericalblogen/what-is-viral-marketing-advantages-and-examples. [Accessed: 11 April 2019]

• Khaneja, S., 2016. Viral Marketing: A magic wand to Success. GE-International Journal of Management Research. Vol. 4, No. 7, pp. 95-106.

Introduction

Management accounting within the business is needed to implement numerous accounting ways to work the operations correct manner. This report focuses on the analysis of management accounting ways that are applicable for the business operations. The report explains edges and disadvantages of the assorted designing ways applied for monetary fund management. Additionally to the present, the report conjointly recommend by which a company will create the employment of explained ways so monetary issues are often managed. During this manner, numerous ways of company accounting are explained that are are useful in coping with economic issues.

LO3

P4

The advantages and downsides of designing techniques used for monetary fund management is as follows-
Advantages

• Budgeting: The particular amount money to pay premiums within the same months to manage their financial gain they are gift to verify and to pay their bills frequently i.e., monthly they are prepared for these payments.
• Worth Setting: Market things like your enemies costs aren’t the alone limits they want to line their fees, costs and prices. They desires to inform their production and overhead prices before you set your rates (Cooper. et., al, 2017). A budget permits them to endeavor their service, health care, marketing, rent, wages, debt charges and various costs so they are going to be ready to learn existence worth per unit of constructing their product or delivering their service. Once you acknowledge this, they are going to be ready to set their prices to create the profit they might like.
• Capital and Credit procural: Few deals capitalists, banks, dealers or various house owners will offer them with money or trust unless they need got cash inquiry to gauge they are a going interest (Abdelmoneim  & Jones, 2014).

Disadvantages 

• The character of the account is numeric, so it tends to focus government attention on the quantitative ways of an employment. In reality, customers don’t care exercise the profits of a business. 
• Blame for results: If the agency does not bring home the bacon its accounted results, the agency controller may action on the opposite agency that offers services to that for not having fully supported is agency (Turner &  Guilding, 2012).
• Expense allotment: The budget may impose that positive amounts of overhead costs are assigned to varied departments, and so the controllers of those agencies may trouble the allotment ways in which used.
• Time needed: The time exercised is lesser if there is a well constructed accounting method in place, employees equal half awake to the strategy, and so the organization uses accounting package (Turner &  Guilding, 2012).

M3 

Planning tools

1. Budgeting

When they have selected what their possible planning involves, they should prefer how these plans are to be sustained (Paulsson, 2012). Understanding of a monetary arrangement is a basic device in guaranteeing that they stay answerable for your operating cost 

• Calculating assets 
• Affirming that approved achievement can in reality be finance. 
• Settling on capital related options in a knowledgeable and very much skilled way. 
• Recognizing regions of possible problem and manufacture planning for same.
• Calculating implementation to date beside pre-arranged limit (Cooper. et., al, 2017).

The character of data given by a monetary plan is balanced to the effort that has been put reserves into it. A financial arrangement on the off possibility that it is to be flourishing should determine the agreement among calculating in somewhat slack to take into explanation unpredicted occasions, while in the interim individual regions in which operating cost can be cut. 

2. Cash Flow Forecasting 

While arrangement is a helpful apparatus for organizing purposes, a Cash Flow Forecast is increasingly perceptive by its very character. It helps the capitalist in unique summits and channels in depository account. A revenue measure will assist with recognizing the requirement in which growth is to be supervises. The revenue estimate is characteristic in character and will help with casting feasible preparations by distinguish regions, for example, Financing fundamentals, Zones of price that should be looked into, Provider conditions that should be renegotiated (Abdelmoneim  & Jones, 2014).

Applications

• Assess Accuracy of a Forecast: Precision of the estimate is urgent for basic leadership and distributing assets for a specific task. Distinctive sorts of estimating strategies give diverse dimension of certainty interim and the administration needs to determine whether the utilization of anticipating strategy is fitting for that specific result. 
• Money saving advantage Analysis: All in all, if more exertion and assets are placed in, the figure will be increasingly precise. Anyway the cost engaged with going for a complex conjecture should be endorsed given the imperative of assets. 
• Timetables of Forecasting: Timetables for figure (choice to make a 5-year estimate or a 10-year measure) is an urgent factor in landing at the exactness of conjecture (Turner & Guilding, 2012). Be that as it may, there is a tradeoff of measure of information included and expanding courses of events, which should be deiced before beginning the determining procedure. 

D3

Findings of the report

Financial analysis is a very important step, whereas considering an organization’s investment perspective. It is a method of ratio between numerous products in monetary statements. Ratios are classified as advantageous ratios, liquidity ratios, plus utilization ratios, leverage ratios and assessment ratios supported the suggestion they supply. A stability sheet, earning declaration is the foremost essential financial declaration and if properly examined and taken will offers precious visions into an organizations employment (Belfo & Trigo, 2013).

Financial Proportions are usually employed by at this time and capable investors, creditors and financial establishments to judge an organization past achieve spot fashions in a very employment and to match its progress with the common company progress (Abdelmoneim & Jones, 2014). Internally, the controller uses these ratios to watch progress and to line specific aims, objectives, and policy actions.

LO4

P5

Key-performance indicators
KPI stands for the set of some standardized parameters that must be adopted by a company compare the inner performance against applied individual standards. As an associate degree example, most accepted level of short liquidity is 2:1 and, an enterprise can compare liquidity of business against this applied commonplace to analysis the areas of problems. 
Through the applying of KPI’s, structural performance is measured against applicable standards (Belfo & Trigo, 2013). It will facilitate identifying the problem containing areas that need improvement. Once the identification of such areas, associate degree economical strategy is made and enforced by management to urge eliminate cash issues and insure property growth.

Benchmarking
This term stands for the tactic that’s expounded to comparison among industry-based-standardized-values and aftereffect of business operations, as an associate degree example, eighteen net profit is assumed higher in Retail market trade of the United Kingdom, so a company is that’s gaining profits eighteen or lots of are assumed smart whereas a corporation that’s not generating profits as per trade commonplace are assumed, low entertainer. Through the applying of benchmarking, a business can improve the internal performance level up to trade parameters to insure sensible profits and enlargement (Cooper. et., al, 2017).

Financial governance
Financial governance is associate in nursing indicator of those moral rules that unit needed to be applied terribly very business corporation to insure security from dirt that may occur due to non-presence of ethical arrangements. Actually, losses from stealing or fraud unit one the key issue for the money problems in business and thus the adoption of economic governance creates Associate in Nursing surroundings of ethics in operation. Also, it ends up within the establishment of sound internal controls in structure, procedures that stops the entity from capital losses (Paulsson, 2012).

M4

 Management accounting have basic objective to produce the management for deciding purpose. As merely simply just in case of economic issues, management wants the knowledge relating to increasing. There are a unit type of corporations have the skills to satisfy these challenges and to contend in a very property economy in step with the Environmental Management and Assessment Institute. The Management Report stands to purpose what vary business entities have disappeared into valuable intelligence and analysis by failing to appreciate trait capabilities. This involves the utilization atmosphere for impact and analysis and news on the impact of environmental and economical factors on employment progress. Throughout this case, the senior respondent may have data on this type of knowledge (Belfo & Trigo, 2013). However, there unit of activity indications that it begins to vary, and predicts fraction of the calculable expected growth at intervals subsequent 2 years for environmental and social information. The financial gain forecasts will facilitate predicts forthcoming money shortages to assist them turn out the proper decisions. It will facilitate in tax preparation, developing with new instrumentation purchases or distinctive if they may would like to secure barely business loans (Brooks & Mukherjee, 2013).

Conclusion

From the above discussion, it is known that unethical operating of workers, low performance of employees and inefficient investment coming up with are major factors for the money problems in business entities and, it may be removed through the applying of management accounting tools. Findings of debate are enough to bring to a close that the employment of management register is extremely helpful for business firms within the consummation of targets.

References

Cooper, D.J., Ezzamel, M. and Qu, S.Q., 2017. Popularizing a management accounting idea: The case of the balanced scorecard. Contemporary Accounting Research, 34(2), pp.991-1025.

Abdelmoneim Mohamed, A. and Jones, T., 2014. Relationship between strategic management accounting techniques and profitability–a proposed model. Measuring Business Excellence, 18(3), pp.1-22.

Turner, M.J. and Guilding, C., 2012. Factors affecting biasing of capital budgeting cash flow forecasts: evidence from the hotel industry. Accounting and Business Research, 42(5), pp.519-545.

Belfo, F. and Trigo, A., 2013. Accounting information systems: Tradition and future directions. Procedia Technology, 9, pp.536-546.

Brooks, R. and Mukherjee, A.K., 2013. Financial management: core concepts. Pearson.

Paulsson, G., 2012. The role of management accountants in new public management. Financial Accountability & Management, 28(4), pp.378-394.

Introduction 

In this report, it will talk about Eco-Fone cell phones. The organization is selling cell phones and embellishments with the two shops, one in Putney and another in Richmond. In current situation the PDAs is extremely helpful for the general population in an each field of work. The association is likewise working in the new market then they will satisfy the study and see all the criticism and make the procedures for the association.

Task 1 

In The United Kingdom cell phones are having an extraordinary market with cutting edge highlights. In the current situation, cell phones are having the most extreme number of requirements. In Deloitte, the cell phones have 3393 clients utilizing and standard cell phone has 732 clients in three months, in this value, there has a most extreme contrast with both of classification. In the Deloitte day by day cell phones is expanding step by step in products that of different gadgets, for example, 10% of the UK grown-ups are utilizing the e-reader every day (31% is utilizing the age of 18-75-year-olds) (Berenguer et. Al., 2017).

Question: Thinking of when you last used each device. Was it within the..?

As per the chart the cell phones are on the best and the 91% open of the UK is utilizing in every day schedule work. In the cell phones has not having the segment of never gather in this chart (Leme et. Al., 2015).

The UK open is having extensive number of clients, the cell phones are helping in every day schedule work that is the reason it is utilizing to an ever increasing extent. The proportion is expanding a result of the advanced mobile phones refreshing with the need of client(Rennhoff & Routon, 2016). Cell phones are doing work in simple ways.

Task-2

According to the direct condition of the present position, the cell phones are performing admirably. (Leme et. Al., 2015). PC is in best in 2012 and the cell phones as went ahead the 2012 and all the open is instructed what’s more, the cell phones have basically propelled for the 18-multi year. The cell phone as go out the workstation in 2016, the PC is principally utilized for office reason and the cell phones with respect to all the individual open on the planet. The table has the fundamental focus for the adolescents, it is, additionally utilized for the workplace. The tablet has likewise accomplished in 2012-2014 and afterward after the tablet has stalled out in the market. (Berenguer et. Al., 2017). The cell phones are constantly expanding a direct result of the time sparing, all the work is finished by the smart phones, it spares time.

Task-3

According to the Kelvin, cell phones are having an incredible market in the UK in the age of 55-75-year¬olds is utilizing cell phones with 71%. The advanced cell is having extraordinary highlights and they are on the whole ideal with every one of the requirements. Over the most recent multi year, the age gather has picked the most astounding or quicker appropriation rate. The cell-phones are utilizing by the upper age amass more than the more youthful individuals of the UK open. The individual who is utilizing the cell phones they check in at regular intervals. Every one of the grown-ups are utilizing facebook up to 70% of general society and all the 70% open having a record with facebook. (Gumbel, 2012) The rate has accompanied the last examination in the May and June of 1163 people groups. Deloitte suggested that high society open is utilizing cell phones than normal people groups will be a piece of premium handsets. The developing quantities of clients are in smart phones they all work done in the cell phones.

Task-4

Each association has an upside’s and downsides of system that needs to recognize and investigation of the professionals what’s more, cons. Each technique has a genius or favorable position and cons or hindrance, make the choices for utilizing the systems to get the best outcome for the association. According to the above advantages and disadvantages, the geniuses are in high that can be fit for the association. In the new market that is Kingstone, the association needs to do the full research and do the review with the general population. The association will entryway more benefit in the new market that can satisfy with the showcasing and imaginative methodology with offers. ( Authority, 2015).The association needs to contemplate the SWOT examination of the whole contender and with self and afterward it will help with the clients. See every one of the necessities of the client, and at that point make the powerful procedure to accomplish the whole objective with a productive way. The administration needs to work legitimately with the ideal head; the administration is having the appropriate segmentation work with the group. In the new market has an alternate culture of conduct the items need to deal with the need.

Task-5

A). Calculation of monthly cost.

B). Commercial Mortgage lenders in the United Kingdom.

The Royal bank of Scotland is the money bank in Scotland, it is giving the scope of items that are appended to the administration’s ventures fund ensure scheme. The illustrious bank has a proper plan for the client with their necessities, for example, client need non-account alternatives then the bank is giving that kind of thing ( Authority, 2015).

Together is the business contracts, that having the scope of client conditions and the association is having the numerous property types. The client has the decision to pick the obtaining against the properties with the field of the work. The association is rigid in nature.

The Nat West is the business contracts association. The association is giving the most astounding time of the credit to satisfy the borrowings. There has the reimbursements framework in the fixed and variable rates with possess conditions (Karcz, 2014).

The THINK business advances are likewise business contracts, this is the master in business contracts. The rate of premium is least in the market contrasted and all the association.

Task-6

Two-tailed Z test

Hypothesis

Null Hypothesis = 0.05>H0<0_05 

Information’s given

Formula:

z=x1–x212n1+22n2

According to the report, the invalid speculation is rejected with the above arrangement so the two shops are not occurring in the field of the theory. The Z test is getting the 1.4142 this can be appeared in the z table that is 0.158. The invalid theory that given the fat rate is 15% and the populace implies is not the same as the 15%. After that get choice rejected (Leech et. Al., 2013).

Task-7

Question 1 Last time usage.

Question2. How long mobile used.

Question3A. Service and support of mobile phones

Question3B. Product and services

Question3C. Sales Staff

Question3D Price and value of smartphones

Question4 Satisfied from services

Question5 Did they want to continue

Question6. Any recommendations for products

Mean

Mean is additionally called the scientific desire, which implies the normal esteem discrete arrangement of numbers. It implies the mean is entirety of all qualities is isolated by number of esteems. The math mean is the arrangement of all numbers is named by the qualities (Gumbel, 2012). The information will be in the perception acquired by determination since the factual way.

Formula:

Mean of Grouped Data

x= fxn

where,   x= mean

f = frequency of each class

x= mid interval value of each class

n= total frequency (Maklan et. Al., 2017)

fx = sum of the product of mid interval values and their corresponding frequency

Task- 8 

According to the situation, the Poisson dissemination is reasonable for the situation on account of Poisson conveyance is the unmistakable shot spreading of the errand or occasion happening in the path in a given period. It for the most part examined for the Poisson appropriation as an essential factor for the binomial dispersion, the odds of thing is without question yet the likelihood is short of what it is fit for the situation ( Hong, 2013).

Formula:

Px,μ=(e-μ)(x)xǃ

Given Information

X — Number of actual occurrence – 3

µ— Average number of success – 2 

e – – 2.71828

Poison probability= (2.71828-2) (23) / 3!

Poison Probability = (0.13534) (8)/6

Poison probability = 0.1 80

The administration needs to pick the Poisson dissemination in light of the fact that the Poisson can be utilized in the minimum cases in the event that the odds are in less alternative, at that point the Poisson conveyance will be utilized and afterward in this, the Poisson dispersion is having three choice then it will pick one of them. 

The Poisson dispersion gets the likelihood of event of an occasion is 0.180. The administration has a decision that can utilize the Poisson circulation for the best arrangement. The association is getting the solicitations in reverse for quality affirmation, which is under half is 0.180.  On the particular time, in the expansive populace of cells will get a transformation in this the likelihood with an individual cell (Chatfield,2018).

Task-9  

References

Leme, D.M., Oliveira, G.A.R.D., Meireles, G., Brito, L.B., Rodrigues, L.D.B. and Palma de Oliveira, D., 2015. Eco-and genotoxicological assessments of two reactive textile dyes. Journal of Toxicology and Environmental Health, Part A, 78(5), pp.287-300. 

Leech, N., Barrett, K. and Morgan, G.A., 2013. SPSS for intermediate statistics: Use and interpretation. Routledge. 

Gumbel, E.J., 2012. Statistics of extremes. Courier Corporation. 

Maklan, S., Antonetti, P. and Whitty, S., 2017. A better way to manage customer experience: Lessons from the royal bank of Scotland. California Management Review, 59(2), pp.92-115. 

Authority, F.C., 2015. FCA Fines RBS and NatWest for Failures in Mortgage Advice Process. London: FCA.[Online] Available at: https://fca. org. uk/news/fca-fines-rbs-and-natwest-for-failures-in-mortgage-advice-process. Accessed, 11. 

Karcz, J., 2014. New forms of employment in the logistics industry. Polish Journal of Management Studies, 9, pp.84-95.

Chatfield, C., 2018. Statistics for technology: a course in applied statistics. Routledge.

Hong, Y., 2013. On computing the distribution function for the Poisson binomial distribution. Computational Statistics & Data Analysis, 59, pp.41-51.

Berenguer, A., Goncalves, J., Hosio, S., Ferreira, D., Anagnostopoulos, T. and Kostakos, V., 2017. Are Smartphones Ubiquitous?: An in-depth survey of smartphone adoption by seniors. IEEE Consumer Electronics Magazine, 6(1), pp.104-110.

Rennhoff, A.D. and Routon, P.W., 2016. Can you hear me now? The rise of smartphones and their welfare effects. Telecommunications Policy, 40(1), pp.39-51.

Task-10

In the above assignment, the organization Eco-Fone cell phones sell cell phones and in the present year, the cell phones are at the highest point of the area. In this report had a correlation with the PCs, smart phones and tablets on that circumstance the cell phones is additionally on the best. In the article has given by Kelvin they state that in the UK open is utilizing the cell phones in 55-multi year old. For selling the items in the new market, for the accomplishment of objective the organization had done the review.

Executive Summary

In this report, we investigate EasyJet utilizing PESTEL to pick up a top to bottom comprehension of the large scale condition and the impacts it’s been having on EasyJet activities.An EasyJet pestle investigation uncovers various genuine dangers exuding from its industry condition in the UK and EU including Brexit, negative cash developments, rising work costs and numerous others which will be definite in the report. This report will also give a definite investigation of EasyJet’s present corporate evaluation or SWOT examination. This will distinguish its strength, weaknesses, opportunities and threats. Next, we will utilize Porter’s Five Forces investigation of the business and the expanding risk of other minimal effort bearers. Be that as it may, nature can be a wellspring of chances once a firm such like EasyJet distinguishes key drivers of progress in the carrier business, which may move toward becoming wellsprings of a future upper hand. 

Introduction

The EasyJet is a British aeroplane transporter that endeavours on an ease show, established at London Luton aeroplane terminal. It is the largest aeroplane transporter in the UK by tourists figure transport.EasyJet is likewise Europe’s driving minimal effort aircraft having finished a merger manage to go to make Europe’s main ease carrier. Brand Awareness is another quality that is inferable from the organization. In November 1999, chose as a business super brand by the Super Brand Council, perceiving EasyJet as an exceptional brand name. The organization’s online booking office in October 1999 helped Internet deals to pass the one million imprints. This has to lead to EasyJet clients getting a charge out of ‘ Ticketless travel’ – this diminishes the expense of issuing, circulation, preparing and accommodating tickets. EasyJet additionally appreciates inside qualities in its tasks regarding proficient utilization of air terminals by decreasing reverses to 30 minutes and below. EasyJet can practice supplementary focal points on the big repetition courses. In 2016, it reverses in the balance of 73 million tourists, building it the second biggest aircraft transporter in Europe by tourists figure transport, behind Ryanair (Year-end Report 2016). Passengers flow in the year ended 2018 were 88,454,611. Most current earnings for the year finishing 30th September 2018 exists £5,898 million on employed profit of £592 million (2018) and net income of £358 million (2018) (Annual Report 2018).

Section 1

Question 1A commentary and analysis based on the wider ‘macro’ UK and European environmental setting which potentially impacts on the performance and strategic actions of Easy Jet. The requirement will be here for structure your commentary and analysis applying a PESTEL framework.

The PESTEL is an imperative system promoted by associations to evaluate the outer situations in which they work. Alteration in the full-scale situations can show open doors for evolution and market development however they can likewise be destructive for associations. Such changes can be political, monetary, social, innovative, natural or legitimate. This will indicate how it’s fundamentally critical for EasyJet that vital union, estimate and mechanical advancement have on its productivity.

1. Political variables: There are some of the political factors that could influence Easy jet that comprises menace of war in Middle-East. Through the increasing fuel cost, this could influence the business of Easy Jet. This menace of war causes a security problem for all tourists and also causes allowance cost to rise and the airline company altogether. Due to European Union East increases, the tourist’s quantity also increases which gives entry towards the practical new market. Although competing with the other competitors in the market, the policy of air miles is not taken to chargeable by the government as like as the industry vehicles are payable. Political balance and army attack risks also occur (Lange, et. al., 2015). The pricing rules and the compulsory employee benefits, product labelling and the level of dishonesty are also the main political factors.
2. Economic variables: These are some economic factors that influence rising in fuel prices costs. There is one main reason which influences these economic factors is the recession in the Easy jet. Due to a recession, fewer business tourists are travelling to downfall the quantity of sending amount. It takes up to last extend in the time. The globalization is also another factor influencing which build up the air traffic as lifelong. The appearance of a particular currency in Europe becomes much consolidated which brings more concern to Easy Jet.
3. Social variables: Nowadays, people travel mostly for holidays and business travels. One of the social factors that affect the working operations of Easy jet is that the company sells the tickets through the internet and cell phones but the tourists from the French and German are not able to buy these tickets because they did not use their credit cards by the internet or cell phones. Some of the peoples are able and not afraid to buy for cheaper flights which are the factor that provides to their operation (Hedmer, et. al., 2014).
4. Technological variables: The technological progress is the main technological factor that provides to Easy jet’s operation. They are implementing this into their self in the systems for making the ticket bookings more active and adequate. The company has to be advanced on the technological improvements as aircraft constructing and e-commerce related services so that the company can achieve a profit and competitive benefit. The use of the internet on allocation and collaboration form joined industries may help in neutralizing prices and costs for the technological environment which is changing rapidly in the Easy jet.
5. Environmental variables: If the company is entering in the new market, it will able to find the environmental factors which are used to work in the market like the climatic conditions, change in weather, legislation regulating the environment, supporting towards renewable energy, waste management techniques and the air and water pollution rules. 
6. Legal variables: While entering in the new marketing world the Easy jet company should aware of the legal factors like antitrust laws, copyrights of the patents done, protection of the data, safety and the health rules, injustice laws etc. If the company does not take actions about these factors than the secrets of the company can be stolen by its competition in the market (Tckhakaia, et. al., 2015).

Section 2

Question 2 A commentary and analysis of the microenvironment (i.e., industry) within which the company operates. The requirement here will be to structure your commentary and analysis through applying the Five Forces framework to assess the attractiveness of the industry to inform business strategy development.

An aggressive analysis of EasyJet will be depicted by the Porter’s Five Force Model, as this model is used for industry analysis. Porter’s model implies that risk-adapted ratio of return has to attempt and hold the same all over companies and management. Somehow studies have proved that advantage can be extended by various organizations with the industry structure, by which they are described (O’Connor, et. al., 2017). This model was established as a framework by Michael Porter which, engraving these companies by these five forces, although in order to attain and manage the aggressive advantage upon rivals. The EasyJet avails this model to figure out the problem and plan of the company in which they conduct.

There are these Porter’s Five Forces Models which are required for the analysis of the company business and profits:-

Bargaining Power of Suppliers:

The bargaining capability of suppliers declines below a balanced to a huge scale, as in view there are only two aeroplane suppliers the Boeing and Airbus. The exchange for aeroplanes is reserved by these two suppliers. If they decide to buy the new aircraft, they had to buy with that supplier only if they switch them to the other supplier as the thought of the bargaining; they have to pay much more as the cost of aircraft is very expensive at the other supplier. These costs are higher after switching from the supplier on account of the counselling pilots in the airlines and mechanics, ahead of rescheduling the overall supply chain for extra unit. Airports are another crucial set of suppliers, like some of the efforts to neglect high charges from huge airports, Anyhow, Easy Jetsdepend on bigger airports and main focal points to attempt and lessen their prices by flying at remote maximum times (Mills, 2017).

Bargaining Power of Buyers:

The bargaining capability of consumers/buyers declines over a medium to high scale along with the market, because as there are mostly airlines feasible for the consumers to select from and tourists will every time buy from that places where bargaining is easier. Theconsumers are the key source of gain for EasyJet so that the most passengers not decide to make the tickets booked for them and take off with EasyJet, it will be a great threat to the company because the consumers are buying the tickets from the competitors (Goodall & Ashworth, 2013). EasyJet established a website which is named as Right Now Service around every one of its European websites, which is used to make communication growth between the consumers and company. With this method of website making, the consumers are capable to ask the questions and give their feedbacks and solved their problems with the customer services applicable to it. Easy Jets lesser prices are the effective sword for the company so this helps in building up the consumers mind as they don’t want the other companies for travel. With the new pricing and booking schemes from the company as the customers who will buy tickets earlier, they have to pay the less amount of money for their bookings like as first come first serve criteria.

The threat of New Entrants/Barriers to Entry:

The threat of new up comings into the market is very short. The starting costs for coming in the new marketing world of the airlines is very higher which needs lots of money to invest and needs a large number of aircraft and the maintenance tools and facilities along with the promoting teams and operations (Uttley, 2014). If a new bearer taken decision to arrive in the market and take off on actual ways, a financial values conflict must be settled down urgently and would have an abundant bundle on benefits.

The threat of Substitute:

The threats of substitutes are medium to low in the airline industry. On account of below-cost airlines are indicated to be rapid travelling with low prices, so that any of the airline or the competitor will compete with their prices and the timings of the airlines which will become a great threat for Easy Jet (Klophaus, et. al., 2012). An illustration of a big exchange threat for EasyJet causes the train arrangement which is exactly linked, rapid and economical form of shipment that covers up whole of Europe, for example Euro star. One benefit of the railways is that passengers can enjoy the environment but railway travelling is very time absorbing.

Rivalry among competitors: moderate

The airlines performing in the market requires to contain low pricing methods adequate to be successful. As a result, the competition is examined as high to medium levels in the industry. Due to some performing in Europe and which proposal European broad flights, they are the explicit competition with one another (Lange, et. al., 2015). In spite of, there are a number of local airlines that challenges only in their self-market divisions. New concepts and increase in operations could comfortably be reproduced by competitors owing to the various airlines within the company. EasyJet is observing to be the biggest in the UK and the fifth largest between the European airlines as they are travelling many passengers, which give a fair warning of their powerful competitive ability in comparison to the rivals of the airline industries. Competition along with the industry is taken to be very huge as the consumers every time have the selected choice of the below cost procedures.

Section 3

Question 3 from the commentary developed in your situation analysis in 1 and 2 above, identify a series of a) potential scenario based on SWOT analysis and b) generic strategic recommendations for the company.

• SWOT Analysis

The SWOT analysis gives a fact of existence on Easy Jet’s internal and external problems and executions which are as follows:

Strength: Easy jet exceptional network in Europe. It becomes the second largest airline industry in Europe in which the tourists travelling are 73 million in numbers. It gains its position as number 1 brand in the United Kingdom. Although it also builds up the place number 1 and 2 in the Switzerland & France comparatively, where it knocked into prosperous markets and the people with an inclination to travel for both holidays and business purposes (Canelas & Ramos, 2016). The revenue growth will also be increasing rapidly. The use of finance will be analytical. The low-cost models assist the progress with strong balance sheets. Easy jet less price model is sanctioning to acquire market share as heritage carriers economize dominant ability or relocate it to less cost branch.

Weakness: The Easy jet has a slightest worldwide existing. The airline steadily focuses on the European precise drag market at an initial level in Western and Northern Europe and it does not take any benefit of central Europe or Asia (Florio, 2013). Due to Brexits, EasyJet visits defenceless opposite to EU guidelines that need carriers working with extensive intra-European plans to one or other be EU based or moved to face acceptable greater part EU-claimed so as to hold the advantage to fly among EU urban communities. EasyJet will now the UK placed at Luton aircraft terminal and it will offer 51%of  UK-possessed leave behind it weak opposite to these guidelines.

Opportunities: The opportunities which are on a boom at the Easy Jets are that the government authorized the 3rd runway at Heathrow which was the great chance for Easy jet as well as other airlines. The planned development will build new and cheap extra volume at Heathrow. It will diminish the cost of performing from the Heathrow runway. Although, the government approves their proposal of increasing capacity. They only supported the growth of Heathrow runway. They lessen the aircraft monetary costs. 

Threats: The Brexit unpredictability is poor for some airlines along with Easy jet exclusively if EU trade rules, these are restrained that for a long time advantage for Britain. Integral separation continues bearing exposures (Akbar, et. al., 2014). The unfavourable climatic conditions in the UK like thunderstorms, snowfall in winters are repeating simultaneously but not lessened. This may lead to the cancellation of tickets and delays of the flights of Easy Jet and the other airlines for the future master plan.

• Scenario Building of Easy jet

The future isn’t so far in of the reality that for the improvement of business method there are five social and political assurance. The disruption of the birth-rate in the build the world, changes in the circulation of optional cash flow and a redefinition of associated carrying out of task, worldwide offensiveness and the growing conflict among monetary and economic reality. Then he takes a glance at the authority essentialities & the aspects of data upset. The Easy jet must be aware of the competitor’s capacity for every ways or routes and the cost executed by that airlines will help in achieving best goals for the organization.

• Strategic Recommendations of the Easy jet airlines:-

• My First suggestion is expansion like purchasing railroad and so on provided that the aircraft business gets influenced by awful climate or ice and no plane is flying so at last it will influence all different efficient lease like Europe car, lodging, and travel protection.
• I would also and emphatically order to EasyJet that they should begin flights to Asia and Africa to stay away from possible troubles due to immersion in the aeronautics business 
• If the organization is experiencing trouble in UK on account of volcanic fiery remains then on the opposite side organization will profit as a result of flights rushing from Germany to Asia or Africa.

There are two types of strategies taken in account in the Easy jet such as differentiation strategy which is the strategy in which the industry has the particular rules and regulations or schemes which are not copied or transfer by other airlines. On the other hand, the cost leadership strategy which is the strategy in which prices will be lower and the winning prize strategies have taken into account for business growth by Porter. (Florio,2013)

The ‘System Clock’ build upon arrange by Cliff Bowman. It’s another appropriate approach to instruct the company disturbing place along with the additions of competitors. Likewise with Porter’s Generic Strategies, Bowman deal with upper hand in network to cost approved standpoint or disconnection advantage. The 8 middle  key alternatives are: 

1. Low  cost/low combined esteem – Likely to be share specific.
2. Low values –Liability of value conflict and low outlines /shall be a ‘cost head’. 
3. Half  brand– Low value base and reassert in low cost and distribution.
4. Centred partition– Recognizing a ‘specific part’ maintain an superb cost. 
5. Enlarged value/general – Higher boundaries if competitors don’t like danger of falling piece of the all organization
6. Enlarged cost/low aspects– just attainable in a controlling infrastructure assets. 
7. Low value/Basic cost –Debit of part of the global organization.

Summary & Conclusion

In this summary, the functional benefits of the Easy jets includes less  costs than its competitors and the emotional benefits is that the brand is enact to its target & wait to  achieve same accuracy. The fast and easy service due to its no frills experience the brand is on high position. The clear and efficient brand value recognizes for an innovation. 

Whereas in the above report we have concluded that the Easy jet is the British aircraft transporter in UK which is the biggest industry and the 5th largest industry among the European airlines. We have studied about the PESTEL Analysis such as the political, economic, social, technological, environmental and legal variables, the SWOT Analysis &the Porter’s Five Forces of the Easy jet company. Easy jet pursues the differentiation strategies and the cost leadership strategies and few other strategies which are discussed above thoroughly. Easy jet admits to place the workers before the consumers and gives the best customer care to customers. These potentials of Easy jet can’t replace by its huge competitor Ryanair and become different abilities. The industry recommended the cot for this path of travel and its marketing planning have been initially are on top around giving them competent services, below level cost flights with managing high quality of service available.

References

• Akbar, Y., Németh, A. and Niemeier, H.M., 2014. Here we go again… the Permanently Failing Organization: An application to the airline industry in Eastern Europe. Journal of Air Transport Management, 35, pp.1-11.
• Canelas, H. and Ramos, P., 2016. Consolidation in Europe’s Airline Industry. The Boston Consulting Group. Acedido a, 5.
• Florio, M., 2013. Network industries and social welfare: The experiment that reshuffled European utilities. OUP Oxford.
• Goodall, B. and Ashworth, G. eds., 2013. Marketing in the tourism industry (RLE Tourism): The promotion of destination regions. Routledge.
• Hedmer, M., Karlsson, J.E., Andersson, U., Jacobsson, H., Nielsen, J. and Tinnerberg, H., 2014. Exposure to respirable dust and manganese and prevalence of airways symptoms, among Swedish mild steel welders in the manufacturing industry. International archives of occupational and environmental health, 87(6), pp.623-634.
• Klophaus, R., Conrady, R. and Fichert, F., 2012. Low cost carriers going hybrid: Evidence from Europe. Journal of Air Transport Management, 23, pp.54-58.
• Lange, K., Geppert, M., Saka‐Helmhout, A. and Becker‐Ritterspach, F., 2015. Changing business models and employee representation in the airline industry: A comparison of British Airways and Deutsche Lufthansa. British Journal of Management, 26(3), pp.388-407.
• Lange, K., Geppert, M., Saka‐Helmhout, A. and Becker‐Ritterspach, F., 2015. Changing business models and employee representation in the airline industry: A comparison of British Airways and Deutsche Lufthansa. British Journal of Management, 26(3), pp.388-407.
• Mills, A.J., 2017. Dueling Discourses: Desexualization versus Eroticism in the Corporate Framing of Female Sexuality in the British Airline Industry, 1945–1960☆. In Insights and Research on the Study of Gender and Intersectionality in International Airline Cultures (pp. 209-235). Emerald Publishing Limited.
• O’Connor, P., Flin, R., Fletcher, G. and Hemsley, P., 2017. Methods used to evaluate the effectiveness of flightcrew CRM training in the UK aviation industry. Crew Resource Management: Critical Essays.
• Tckhakaia, E., Cabras, I. and Rodrigues, S.A., 2015. Knowledge management in airline industry: Case study from the British airways. In International Conference e-Society.
• Uttley, M.R., 2014. Westland and the British Helicopter Industry, 1945-1960: Licensed Production Versus Indigenous Innovation. Routledge.

Introduction

Human resource management is the procedure used for creating a angle, growing & allocating the schemes & reinforcing arrangements of HR in the organization. It is generally involved along the adequate fulfilment of HR to import excellent results. The success of an organization builds upon their employee achievement, including as recruitment and action of training which brings down decision making of human resources. Their assignment incorporates choosing, selecting, verifying, employing, on board, promoting services and company of the entire association. Hence, a individual aid the executives are the Bureau of an association that manages taking care of the best possible authority and ensuring the best work rehearses set up frequently. The recruitment and selection process plans with the human resource management where they assign the capable staffs. The ambitious labour market establishes the list of benefits along with a business which can make the company well settled. The productive proceedings of HR management will profits both employers and workers. In this assignment, we are discussing by what method human resource management at Morgan Hunt attain organizational target and objectives. The assignment also estimates that the efficiency of the HR form which asserts that how it increases profit and productivity.

LO1

Question1(P1) Explain the purpose and the functions of HRM, applicable to workforce planning and resourcing the chosen organization of your choice.

Purpose of Human Resource Management of Morgan hunt

The duty of HR Management must counterpart people not beyond an organization to execute the aim of the organization. The company exchanges the information with the employee & familiarize the perception and arrangement to their demand(Alfes, et. al., 2013). The HR management of the Morgan Hunt visions nation as organizational revenues and domestic customers & works to construct employee satisfaction and employee adaptability & strength. 

Functions of Human Resource Management by Morgan Hunt.

The functions of HRM of the Morgan Hunt Organization are as follows:

1.The perks and allowances are provided to the employee of an organization.

2. The re-building association activities are finished by a human asset.
3. It preserves the high job fulfilment levels after hearing and reciprocating to the employee.
4. The human resource function is to manage the renewal & transformation in the employee(Alfes, et. al., 2013).
5. The employee must be recruited and trained in the guidance of human resource.
6. The important function is to appreciate and merging labour laws.
7. The human resource needs to work on the physical, social, mental, emotional & behavioural specifications of the employee.

Workforce Planning and Resources applicable to Morgan Hunt.

Workforce planning could help to foothold employee commitment & reservation levels. This is used to give backend support to the needs and prime concern of an organization along with the workforce to assure to encounter government, regulatory resources and organizational intentions. 

The workforce planning can be processed in two terms i.e., short term forecasting trends and long term forecasting trends.

Short term forecasting tends-

1. Peak volume roles
2. Hard to fill the professionalism
3. Instant requirements of the succeeding projects

Long term forecasting tends-

1. Calculated business growth
2. Hard to fill expertise.

M1. Assess how the functions of HRM can provide talent and skills appropriate to fulfil business objectives for the chosen organization.

You will require a wide scope of aptitudes for most HR proficient occupations. A wide base of business learning and foundation in the sociologies are useful. The best HR experts have great composed and verbal aptitudes, just as capable of PCs. Here, are some skills in this framework as:-

1. Worker relations
2. Onboarding
3. HR Information Software (HRIS)
4. Execution of the board
5. Cooperation and joint effort
6. Planning
7. Client administration
8. Undertaking the executives.

The company undergoes the employment wheel of life form fascinating and appointing the deserving candidate to assist the progress of the reviews and ultimately deals with the outcomes. The Human Resource main function is to plan, recruiting and hiring the employee by selection process(Giauque, et. al., 2013). The Human Resource needs to originate a relation between the labour and the employee. Every claim to fame has its very own particular prerequisites past the general foundation and range of abilities.

D1 Critically evaluate the strengths and weaknesses of different approaches to recruitment and selection, supported by specific examples for the chosen scenario.

The nature and extent of HRM: 

The ‘Best Fit’ way versus ‘Best Process’ where the strong and delicate figure of HRM are undertaken. For effective workforce planning and resources functions can have a positive effect on attenuation, culture and brands of an organization. The interior work advertise must be taken and Examining the employee turnover, strength and maintenance(ALDamoe, et. al., 2012). The effect of legitimate and administrative systems and the effect that propels in innovation had after elaborating the proficiency of Human Resource rehearses. 

Recruitment:-

The wellsprings about enrollment are of two types inside versus outer enlistment. 

Employment investigation, sets of expectations, individual details and competency systems. 

Selection:-

There are many Primary techniques for determination and the qualities and shortcomings of each employee recruitment and selection purpose. Dependability and legitimacy are taken as  essential example.

Onloading and acceptance are various methods. The problems influencing fruitful enlistment and socialization of representatives

Question2 (P2)- Explain the strengths and weaknesses of different approaches to recruitment and selection for the chosen organization.

The recruitment is elementary process about adequate Human Resource management of an association and planning operation. It is the process of making an effort to pinpoint and inspire the probable applicants to apply for current or predictable job opening. For any organization, recruitment is a very necessary part of the progress of the organization. Recruiters avail the distinct methods like source, screen, shortlists and select the resources as per the specification of the organization(ALDamoe, et. al., 2012). By the recruitment process, we can select the right deserving candidate for making an advanced expanded training and skilled resources also being advanced. Morgan Hunt uses both the domestic source path and the outside source path for recruitment and selection of candidates for their organization.

Internal source approach

Inside origin approach would selects workers from inside. It mentions Morgan Hunt unique system to enlist. For instance, the transfer of the ideal helps Morgan Hunt to fulfil the empty job effectively. Again, Morgan Hunt uphold the representatives to fill alternate vacant posts. 

Strengths of internal source approach

1. HRM can direct this enlistment and preservance effectively inside a limited time.
2. It need not intellectual meeting of employees. As Morgan Hunt will chose from the existing workers, it not need plenty of time.
3. Candidates employed through this fundamental are many more successful.

The weakness of the internal source approach-

1. This philosophy would  demotivates the labourers that are not progressing. 
2. It confines the prospect of procuring fresh and imaginative candidates.

External source approach

This fundamental selects the employees from the outcoming sources. This process pulls inward workers from other processes through a commercial on different media (Xing, et. al., 2016). In spite of this, the enrollment procedure is annoying and hard, this method will bring a great outcome for the organization.

Strengths of External source approach-

1. It will permit Morgan Hunt to employ and choose fresh, inventive, youngster and imaginative applicant.
2. The tremendous pool of applicants is obtainable.
3. It helps Morgan Hunt to ensure high profitability

The weakness of External source approach-

1. To lead this process, the HRM at Morgan Hunt needs high turn.
2. It likewise requires a surprising expense. 
3. This process has a high disaster being unskilled applicants enlisted. 

M2 Evaluate the strengths and weaknesses of different approaches to recruitment and selection for the chosen scenario.

External approach: Outer competitors are new to the association, its systems, procedures and culture, requiring additional time for them to “fit in”.

The strength of external approach:

It enables Morgan Hunt to ensure high productivity. Morgan Hunt will most likely advance brand remotely

The weakness of the external approach:

Outer applicants likewise needs extra skills because of their lack of experience, which takes up to 2 extra long span of trained in examination inner hopefuls at the Morgan Hunt, Furthermore, increasing the expense of the recruitment procedure.

Internal approach: It empowers the organization to get candidates from the current workers.

The strength of an internal approach:

The expense of preparing inner applicants is essentially lower since Morgan Hunt can fasttrack interior selected people inducting the process at the balanced phase of year 3 to 5. No danger of enlisting inadequate representatives

The weakness of the internal approach:

Confidence problem for the applicants which are not progressive yet associated for the post.

LO2

Question3 (P3) – Explain the benefits of different HRM practices within the organization chosen of your choice for both the employer and employee.

 Successful practice of Human Resource Management will give satisfaction to both the employees along with the employer. As, main target of Human Resource management at the company to preserve functional human resources at the company. If Morgan Hunt wants to raise the productivity and power of the human resources,then the company places good human resource services at the workplace. Due to this reason, Morgan Hunt provides the employee with adaptabilities. This practice fascinates the employee in the workplace. The performance of employees is improved after the satisfaction at the workplace(Cooke, 2014). The research and development program gives the employee training, skill development programs, personality development programs for the worker. The adaptability of employee at the office also recommended with this administrative policy. With this employee turnover, the cost of human resource development also maximizes.Although, the Morgan Hunt exercises to place the external sources of recruitment selection of the candidates. If the company will apply this strategy, it will capable to appoint or hire the creative and inventive employees for the organization. Therefore, the Morgan Hunt will provide in the successful brand evolution.

M3 Explore the different methods used in HRM practices, providing specific examples to support evaluation within the chosen organizational context.

 Morgan Hunt is a company which works for the growth of employees confidence, arrangement & commitment. If the company wants to lessen the turnover, then the effective human resource management exercises have to be done. These programs have grown the faithfulness and inspiration to boost up employee achievements. Some of the different methods which are taken into account in HRM practices are:-

1. Occupation and individual particulars.
2. Planning work particulars and individual details pertinent to the enlistment setting and needs of the associations, considering enactment and friends approaches.
3. Enrollment and choice practically speaking.
4. The effect of innovation on improving the enrollment and choice procedure; the utilization of online assets, advanced stages and long-range informal communication(Cooke, 2014).
5. Structuring and putting work promotions.
6. Shortlisting and preparing applications.
7. Meeting planning and best practice.
8. Determination best convention.

D2 Critically evaluate HRM practices and application within an organizational context, using a range of specific examples for the chosen scenario.

The Managers crosswise over associations in the private area unequivocally embraced self-acknowledgement (one of the factors of culture), which was significantly corresponded to practically all HRM rehearses. These are arranging, enlistment, choice, execution assessment, preparing and improvement, vocation the board, and rewards(Wright, 2018). While associations find themselves in overall challenge, the vast majority of the people are taking a stab at the accomplishment, capacity usage, headway, style, self-improvement, and harmony of the psyche. Acknowledgement or expectation of acknowledgement of the qualities has brought about better execution. If this human resource management practices are not conducted in the organization, the employer will not be capable to keep good contingencies with employees. HR rehearses were significantly identified with financial help in the private area. Through arranging, enlistment and determination rehearse, newcomers with more grounded frameworks of help report less unfriendly mental results identified with work execution than do those with less help. 

Question 4(P4)-Evaluate the effectiveness of different HRM practices in terms of raising organizational profit and productivity.

The Human Resource management focus facing sustain a better affairs with the workers at the office. The power connection is important to expand the profit and productivity of the organization.

The effect of Human Resource Management  forms and approaches on candidate profitability is a crucial part in the field of human habit the executives, modern connections and graded brain research. Money tied up interest plans were very gainful for the company than the connected costs. Utilization of best Human Resource rehearses demonstrates a more grounded relationship with the association’s profitability in the high development industry. By enlarging employee support, the firm gets profit by an increasing efficiency of the depictive because of the enlarging responsibility of the employee. The central part of its work organize the reason for usage of High-Performance Work Practices which help up pay & liberation in the work of the executives structure, and more thorough worker service and qualifying, improves the learning, upgrade their desire, fallen escaping work and improve belongings of value employees as long as boosting up drone to stop the organization.(Wright, 2018).

Profession organizing is a device that regulates technique to future Human Resource requirements & drives representative to make progress toward his self enhancement. Successful human resource management exercise allows the employee to lessen employee turnover. It will affect the cost of human resource department. The Morgan Hunt has lessened the employee turnover to gain the profit in the organization’s business growth. As the income diminishes, the production of the employees maintains itself. If employee designs from the company, the Morgan Hunt will suffer the loss of askilful and knowledgeable employee for the company. Therefore, the productivity of the organization obstructs. Accordingly, Morgan Hunt provides the relaxability and satisfaction to an employee so that this human resource management exercise can give growth in the profits and productivity of the company.

LO3

Question 5(P5)- Analyze the importance of employee relations with respect to influencing HRM decision making for the chosen organization.

Employee Relation

In the direction to improve the execution of the employee at the working condition, the human benefit the board must ensures the fascinating worker connections. In the event that Morgan Hunt negotiate to oversee huge representative alliance , the normal hit of the organization will be weakened.Workers Relations are definitely not a straightforward selling process, as, more the base of a scope where there is faith and  belief for the thought processes of the board when they talk about subjects and activities – a situation in which person feel esteemed for their promise and knowledge. Morgan Hunt can consist the following systems to keep up immense worker relations-

1. Correspondence – The business must to give essential data to the representatives to keep them restore about the task of the company. For reason, Morgan Hunt should pass data to the applicant about fresh start or items and feature of items to the employment workforce. This will permit Morgan Hunt applicant to enlarge the task by giving the customer data. This will also help manage faculty keep up the large affairs with clients. In this way, employees will probably perform at an agreeable dimension.
2. Great profit– The employment must assure the large soundness of the employees. For example, Morgan Hunt gives the applicants a great office, the safe technique to use just as to driven openings(Jiang, et. al., 2012). It will help in assisting to maintain better relations.
3. Professional Development Contigency– The representatives task at the organization to construct their general professions. By this reason, Morgan Hunt delivers the representatives profession change openings. In this way, the candidates inspire & trustworthy to the organization. In this way, the employee realtion will be improved(Renwick, et. al., 2013).
4. Vision – Morgan Hunt set up his perception in that  way that it invigorates the workers to serves better processing of the representatives. The vision has been planned aligned with destinations of the candidates..
5. Approach– Employee prerequisite to be propelled to hold on great companies with the employment. In the act that Morgan Hunt drives the employee, it will be increasingly compelled to their gassing. Essentially, it acts to give employee bonus, motivating forces, promotion and increase the pay of the employee to keep up great worker affairs.

Best representative affairs signifies that workers will sense definite about their nature, their activity just as existence of specific extraordinary association. In this manner, the employee relations at Morgan Hunt will aid the company by bringing a great conclusion for the company.

M4 Evaluate the key aspects of employee relations management and employment legislation that affect HRM decision-making to the chosen organizational context.

Representative Relations are what tops off an already good thing for pretty much every HR activity – atleast path to HR approval –serving little respect to careless of whether the company behaviour is worker cordial. It is compulsary for all to appreciate that one force to his organization to perform and other brief must be kept far because it is only a simple exercise in emptiness(Jiang, et. al., 2012). Human asset the executives at Morgan Hunt centres around the upkeep of worker relations.

Worker relations:-Keeping up great worker relations and techniques for making and elaborating representative relations and commitment. 

Worker relations and the legislations: The motivation behind work laws. Major lawful issues and limitations (for example balance, information security, wellbeing and security, excess, rejection, work contracts). There are some moral and social obligations.

Worker’s organizations and work environment portrayal: The job of worker’s organization’s − neighbourhood/national, Aggregate assertions and Control, complaints and excess is the best practice.

D3 Critically evaluate employee relations and the application of HRM practices that inform and influence decision-making in the chosen organizational context.

The applicants will satisfied with their work with one another and works simultaneously to a shared objective. An single candidate can’t stay silenced and work for many hours, he needs someone to converse throughout and talk about his attention.

• Employment and individual determinations: Getting ready employment determinations and individual particulars pertinent to the enlistment setting and needs of the associations, considering enactment and friends approaches. 
• Enlistment and choice by and with the result of innovation on improving the recruitment & choice procedure; the use of online ways, automated levels and interpersonal interaction(Purce, 2014). 
• Planning and putting work ads.
• Shortlisting and handling applications.
• Talking readiness and best practice. 
• Determination best practice.
• To keep up elevated amounts of work 
• To guarantee value steadiness. 
• To keep up an equalization of instalment overflow.
• To secure the conversion standard.

Question 6 (P6) – Identify the key elements of employment legislation and the impact it has upon HRM decision making for the chosen organization.

Enactments, legislations and various guidelines, for example, The National Minimum Wage Act The Employment Rights Act, , Sex Discrimination Act, , and The Disability Discrimination Act, Equal Pay Act etc., should be gone along with any employment in the center of general guidance basically  in valuable making of Morgan Hunt’s HR Management as it will completely change any choice or plan organize by the HR office. General aspects suitable to work are treated in business execution which combines:-

1. Comparable business chances: Race, ethnic source, darken (for instance, African American, Hispanic, Native American, Asian), Sexual adjustment (ladies, including the women who are pregnant), Age level (people more than 40), Person with incapacities (physical disabilities and mental), Military background (Vietnam‐era veterans), myth (exceptional convictions and methods).

The fundamental desire under the EEO rules is to assure that everyone has the equal opportunity of finding a new line of work or being advanced at work.

2. Affirmative actions: Although EEO regulations intend to guarantee levels with the analysis at work, the government schemes for the less than half in society requires the employment to try to employ and up holds individuals who has the places with the holy conventions.(Purce, 2014). Governmental schemes regarding less than half peoples in society taking explicit actions calculated to dispense with the present impacts of past separations.
3. Sexual provocation: Morgan hunt employers can find a path to limits the risk with the following ways: 

a). Offer a obscene action path delivery. This declaration should convey where representatives can address grievances, assuring privacy, and ensure that disciplinary move will taken adjacent to sexual harassers.

b). Give agreement and adapting projects to administrators & supervisors. These activity must accentuate those  inappropriate action will not move without any serious conditions. 

c). Lead moderate, generous -minded tasks and base tasks on without passionately assembled existence. The complainer must be protected from the sorts of handling that incensed the argument.

4. Working time rules
5. Income and remuneration
6. Working situation
7. Trade organizations and other modern affairs(Daley, 2012).
8. Advantage, profit and health
9. Social protection
10. Special preparations for various activity or collections and so on.

Performance controls finance preparations and other allowance and benefits construct in line with the working hour booking & preparing in like manner so all Human Resource choice towards right confirming correctness & similarity. In addition, performance meets government disability idea of the organization and exceptional preparations have confidence in situations and employment behaviour.

LO4

Question 7 (P7) -Illustrate the application of HRM practices in a work-related context, using specific examples from the chosen organization.

The individual detail is the absolute most essential report in powerful enlistment and determination of the Morgan Hunt organization.It enables you to characterize the sort of individual you need thus encourages you to compose and exact employment advert. It empowers you to survey every competitor reasonably and dispassionately. Also, it empowers you to look at the hopefuls against one another and thusly make determination dependent on proof.

• Employment Requirement is accurate and Measurable

The estimation of an individual detail is that it enables scouts to look at proof from every hopeful against the necessity of the activity. 

Expected set of responsibilities

Composing an exact expected bunch of responsibilities contain dividing the job into its  different part and the key objectives are characterized. A best job illustration is to:

1. i) Examine the general encouragement behind the performance and fundamental efforts.
2. ii) Give & analysis of the job for deserving candidate permissive to select whether the job is good for them or not.(Buller&McEvoy, 2012).

iii) Put  the job or occupation into the hierarchical context.

1. iv) Inform whatever is left of the recruitment procedure, i.e. the one particular, work notice, analysis query and so on. The method consist part of the expected set of liability must be entirely pertinent to essential for the job post. Care is familiar to ensure that the set of working liabilities  isn’t pointlessly excessive to avoid and particular collection as this could be seen as supportive breakup which is illegal.

Modernization affecting that how bosses select an extraordinary capability and how the incredible capability finds the appropriate boss:-

Internet-based life enrollment: The online interviews and the online life profiles is a major aspect of the application.

Versatile Recruiting: This will  facilitate you to look huge candidates to a large extent more effective, Employers should deal with improving various viewpoints if the portable customer experience, For example, preparing a versatile neighbourly employment process and improving your deposited time however it could be more expected from them.

Occupation pages and Career side : This part of recruiting and creation is not fresh and the employment boards are made. The Morgan Hunt could set up their area. Portable recruitment directs that professions sheets should be streamlined for the versatility and that the job position posted on recruitment sheets and vocation side must be shared via a online network sites too. Online live sharing methods the message can be deliver through flexible methods. 

M5 Provide a rationale for the application of specific HRM practices in a work-related context with special to the scenario chosen for the purpose.

The applications of HR Management methods in word parallel relation is imperative subsequently for data being explicit and quantifiable. Provide a fundamental to act with the deserving candidate once uses against the performance prerequisites. Alternately the way to screen competitors may be the most basic path to keep in use internet networking in selected, With this way, change represents other employment page and progress pages alternated that how we can utilize the enlisting devices decently.(Buller&McEvoy, 2012). Getting ready employment details and individual determinations appropriate to the enlistment setting and needs of the associations, considering enactment and friends strategies. The result of invention on improving  enrollment and constancy process; the use of online paths, advanced levels and comprehensive informal connection. Planning and putting task notices & waiting list & handling functions. Discussing readiness and best process and choice of best form.

Conclusion

In the above report, we have concluded that the human resource management practice of the Morgan Hunt is at best levels. It helps the company to enlarge the profits by decreasing the employee turnover. The suspicion upon it turn to implies that just a team of organizations will assume that it’s practical, and even they needed a backend arrangement of the model. Although they have a company-wide usually protective management of Human Resource Management approach in an organization working on a profoundly assorted product publicize; and to make an authoritative fashion which look for after both individual & collaborative ways at the same time is an extremely dangerous errand, if probably achievable. If the Morgan Hunt applies an external recruitment approach, it will appoint the deserving, skilful, inventive candidate for the organization. So, the Morgan Hunt will give the successful brand growth in their business.

References

• ALDamoe, F.M.A., Yazam, M. and Ahmed, K.B., 2012. The mediating effect of HRM outcomes (employee retention) on the relationship between HRM practices and organizational performance. International Journal of Human Resource Studies, 2(1), p.75.
• Alfes, K., Truss, C., Soane, E.C., Rees, C. and Gatenby, M., 2013. The relationship between line manager behavior, perceived HRM practices, and individual performance: Examining the mediating role of engagement. Human resource management, 52(6), pp.839-859.
• Buller, P.F. and McEvoy, G.M., 2012. Strategy, human resource management and performance: Sharpening line of sight. Human resource management review, 22(1), pp.43-56.
• Cooke, F.L., 2014. Chinese multinational firms in Asia and Africa: Relationships with institutional actors and patterns of HRM practices. Human Resource Management, 53(6), pp.877-896.
• Daley, D.M., 2012. Strategic human resources management. Public Personnel Management, pp.120-125.
• Giauque, D., Anderfuhren-Biget, S. and Varone, F., 2013. HRM practices, intrinsic motivators, and organizational performance in the public sector. Public Personnel Management, 42(2), pp.123-150.
• Jiang, K., Lepak, D.P., Han, K., Hong, Y., Kim, A. and Winkler, A.L., 2012. Clarifying the construct of human resource systems: Relating human resource management to employee performance. Human Resource Management Review, 22(2), pp.73-85.
• Jiang, K., Lepak, D.P., Hu, J. and Baer, J.C., 2012. How does human resource management influence organizational outcomes? A meta-analytic investigation of mediating mechanisms. Academy of management Journal, 55(6), pp.1264-1294.
• Morgan Hunt, 2018. About Us. [Online] Morgan Hunt. Available at: https://www.morganhunt.com/. [Accessed: 8 March 2019].
• Purce, J., 2014. The impact of corporate strategy on human resource management. New Perspectives on Human Resource Management (Routledge Revivals), 67.
• Renwick, D.W., Redman, T. and Maguire, S., 2013. Green human resource management: A review and research agenda. International Journal of Management Reviews, 15(1), pp.1-14.
• Wright, P., 2018. Fundamentals of human resource management. Management, 5, p.27.
• Xing, Y., Liu, Y., Tarba, S.Y. and Cooper, C.L., 2016. Intercultural influences on managing African employees of Chinese firms in Africa: Chinese managers’ HRM practices. International Business Review, 25(1), pp.28-41.

Introduction

ZZ Tech is a mobile manufacturing organisation. ZZ Tech is an organisation that wants to establish its R&D department with the help of project management. This R&D department will develop the Technology for providing mobile handset to the customers. This assessment includes the scope and key deliverables of the project. Different type of challenges in completion of scope within the decided deadline of 12 month is proposed in this assessment. Work breakdown structure for the activities of the project is described in this assessment. Key stakeholders that are associated with the project management are investigated in this assessment. This assessment comprises the importance of analysis the needs of stakeholder. Methods are also included in this assessment that provides ways of engagement of stakeholders in the project. Critical analysis of the implementation of project plan is done for this assessment. After that self-evaluation is done of the competencies gained with the help of this project management.

Question 1 (LO 1) Evaluate background of project including its scope, key deliverables and the challenges involved in scoping a project. 

Research and development department has to co-ordinate with different type of Departments that are associated to it in the ZZ Tech. there can be different type of scopes that can be possible in the project of establishing research and development department for this organisation. With these scopes challenges are also associated that are also discussed below: –

Detailed scheduling

Proper scheduling of the deliverables of the establishment of Research and Development Department should be made. Scheduling provide brief structure of the works that has to be done under the project. The risk of failure of R&D department establishment get minimised after scheduling of the different works that are included in establishment of this department (Unger, et. al., 2012).

Challenge 

The main challenge that is included in this scope is to complete all the activities in the decided time frame. Give the proper time to all the activities so that whole project can be fulfilled easily.

Working with Executive

The needs and requirements of the project management can be analysed well with the help of Executive. Executive knows the success factors that are necessary for effective project management. These success factors can be decided and implemented for the establishment of Research and Development Department (Bhattacharyya, 2015). The objectives for this is specific project is also decided under the R&D department.

Challenge

Collecting formal data for the planning regarding the establishment of R&D Department will be a challenge for the executive. Deciding realistic end date is also not an easy task for the executive.

Working with Marketing

Marketing department and R&D department has to work in coordination. Marketing department used to collect feedback from the customers. These feedbacks are provided to the R&D department. Therefore to establish a good system by which communication of the feedback can be possible between these departments will be beneficial. R&D department provides a solution of the feedbacks that can be promoted by the marketing department (Unger, et. al., 2012).

Challenge

Forming an effective communication between the marketing department and the R&D department will be tough task.

Location

The functioning of R&D department should be accomplished at that location in the workplace where this department can be easily accessed. This will be helpful in accomplishment of the task fast.

Challenge

Availability of the space which is essentially required for the establishment of R&D department is challenge. 

The main deliverables that can be provided by the old department of this organisation are: –

Product according to vision

The Vision and Mission of the organisation can be fulfilled by providing the product to the customer according to vision of organisation. The R&D department plays an important role in providing the product according to the Vision and Mission of the organisation. This is one of the deliverable of this department for ZZ Tech.

Latest Technology

Provide the Technology in the mobile phones which are in Trend in the present market. Focus on developing the mobile phone with the latest feature that is in demand among the customers. Latest Technology will enhance the business opportunities for this organisation (Schaeffer & Cruz-Reyes, 2016).

Maintaining Finance

Develop the products of this organisation in such a way so that capital growth of the organisation can be possible. The focus of R&D department is on maximizing the tax opportunity (Kalwa, et. al.,  2012). This can be possible with the help of developing the Lean manufacturing by the R&D department. In Lean manufacturing, minimum use of resources results in maximum output.

Innovation

Customers are crazy about innovation. Innovation attracts large number of customers. The primary focus of any R&D department of any organisation is to bring innovation in the products and services that are provided to the customers.

Testing and quality control

Quality control can be possible with the supervision of R&D department. Better quality in the products can be provided to the customer with the help of testing and quality checking of the products that are manufactured by ZZ Tech (Lee, et. al., 2012).

Competitor analysis

The analysis of competitors regarding the Technology and the performance of the products is done by R&D department. Providing Technology that can compete with the present market Giants is the work that is associated to this department. Competitor analysis provides a way to develop the Technology according to the market Trends. This will provide competitive advantage to ZZ Tech.

Question 2 (LO 6) Include a work breakdown structure (WBS) and resource breakdown structure (RBS) 

Various resources can be included for establishing R&D department.

Question 3 (LO 5) Identify the key stakeholders to the project and evaluate the importance of analysing their needs, interests and methods which could be used to secure their engagement.

Two type of stakeholder are associated with this project management of establishing R&D department for ZZ Tech.

Internal stakeholders

Internal stakeholders include employees, leader and manager of the organisation. Internal stakeholders are the entity of the organisation that takes important decision regarding the external stakeholders.

Employees are having these responsibilities regarding the growth and development of the organisation as well as the R&D department. Employees are having specific responsibility in the R&D department that are assigned by the managers and leaders of the organisation.

Managers and leaders of the organisation are self-motivated towards their work. They work effectively for the organisation growth and development. The leader and manager that are involved in the R&D department helps in taking the necessary steps that are fruitful for the establishment of R&D department. Powers are in the hands of managers and leaders of the organisation (Hassanzadeh, et. al., 2014). Leader and manager of the organisation assign the R&D department work to the employees of the organisation. Investment decision regarding the establishment of new unit of R&D department is taken by the leaders of organisation.

Employees of the financial department are taken into the confidence by the leaders for the decision making. All the risk associated to the R&D department are analysed by the financial department then the investment decisions are taken. In this way internal stakeholders take combined decision with coordination and full analysis (Hassanzadeh, et. al., 2014).

External stakeholders

External stakeholders include suppliers, customers, shareholders, creditors, government, and media. All the stakeholders are having their own importance. These stakeholders play an important role in the decision making regarding R&D department.

Suppliers

R&D department analyse the need of Technology that has to be implement for the product that is manufactured by this organisation (Bhattacharyya, 2015). Raw material for the implementation of that Technology can be provided only by the supplier.

Society

Before launching the product in the market R&D department analyses the acceptability of product. The product should be acceptable among the people of the society. If the product is not accepted in the society then it is the R&D department that makes necessary changes in the product. Therefore it is necessary to make the R&D department with the competencies.

Customers

Customer used to give the review of the product on the social media, internet and in the interviews. Marketing department collects reviews of customers. Reviews are given to the R&D department. Therefore effective coordination can be established at the time of formation of R&D department between both the departments. The constructive changes in the product can be possible by the means of R&D department because of effective coordination (Bhattacharyya, 2015).

Shareholders

At the time of investment shareholders are also provided with all the information. The important decisions that are taken by the board of directors should be informed to the shareholders regarding the R&D department like forming new unit of R&D department. This will bring trust among the shareholders of the organisation.

Media

The marketing of the product should be done by focusing the qualities of product. These qualities can be communicated by R&D department to the marketing department. Story can be made regarding the qualities so that good population of the customers can be targeted (Mohagheghi, et. al., 2017).

Government

The legal authority should be taken into confidence while launching any new Technology. The no dues certificate can be taken from the government bodies while establishing the R&D department for this organisation. This will be helpful in establishing the R&D department without any obstacle.

Importance for the analysis of need of stakeholders

• Association with the stakeholders can be made easy after the analysis of demand. This step is quite beneficial for the sensitive stakeholders.
• Misinterpretation by the company will be removed by the effective analysis of demand of the stakeholders. This step results in no conflict between stakeholder and the organisation.
• Planning regarding the establishment of R&D department can be facilitated. Stakeholder friendly establishment of R&D department can be possible with the help of analysis of their demands (Mohagheghi, et. al., 2017).
• Stakeholder will cope up in the critical situation of the organisation because of this type of importance given to them.

Method of securing the engagement of stakeholders

The level of power in the level of interest of the stakeholders can be increased with the help of mendelow matrix. Method to increase the stakeholder in the project management can be possible with the help of The Matrix. It has four categories that are distributed in the graph. The x-axis of the graph shows the level of interest of the stakeholder and the y-axis denotes the power. IV categories can be understood as: –

Manage closely

In this category full engagement of the stakeholders is targeted. Steps are taken to satisfy stakeholders. Highly interested stakeholders are targeted under this category.

Keep satisfied

Less interested stakeholders are provided with prior information. To make these types of stakeholder’s satisfied information are provided regarding the step of establishment of R&D department.

(Figure: Mendelow Matrix)

(Source: Oxford College of Marketing, 2019)

Keep informed

Those stakeholders that are highly interested in the project management of establishment of R&D department know each information already. They are self-aware. Such type of stakeholders is informed by the organisation in which low power is invested (Oxford College of Marketing, 2019).

Monitor

Some of the stakeholders are very less interested in the works of project management. This is stakeholders cannot be made more interested easily. To create more interest of the type of stakeholder excessive communication is made with them.

Question 4 (LO 2 & 3) Give an explanation and critically analyse regarding how the following can be used to plan and implement your identified improvement project effectively

Planning tools

As per George, (2012), various planning can be done for the establishment of Research and Development Department of ZZ Tech. assigning works to the executive is one of the planning tools that will be accomplished for the establishment of R&D department. Proper needs for the establishing this department will be analysed under this tool. On the other side in the words of García-Manjón & Romero-Merino, (2012), success factor for the project will be analysed. Proper planning regarding achieving the objectives is also analysed. The objectives are decided according to the Vision and Mission of the ZZ Tech. making the work breakdown structure and resource breakdown structure is the part of planning. Realistic end dates can be analysed with the help of such planning tools.

A platform has to be established in the initial stage of the establishment of R&D department. This platform will work as a coordinating body between the marketing department and the R&D department. This platform will also work as a coordinating body between the other subordinate departments and the R&D department. The planning of this platform will be helpful if it is done in initial stage as better functioning of the department can be possible from the starting.

Methodology

According to Brettel, et. al., (2012), proper methodology will be set for the establishment of the R&D department. All the activities that are associated with the establishment are described in the accurate manner. Description will be helpful in accomplishing the activities in easy manner. While as per Lee, et. al., (2012), a system has to be formed in which prioritisation of the work can be possible. This prioritisation will be helpful in doing the important work with full priority.

As prescribed by Hassanzadeh, et. al., (2014), written communication of contingency and the activity can be circulated between the employees. Creating an alert for the employees of the organisation can be possible at the time of contingency with the help of written communication with text message and internet message. While according to Chandrasekaran, et. al., (2016), motivating the employees to accomplish the task of the project management will be beneficial for completion of work. Rewarding on the performance basis to the Employees will also motivate the other employees to do work better for this project of establishing R&D department for ZZ Tech.

The resources selected for accomplishing this project should be used in time. The activities have to be accomplished within the decided time frame so that cost and resources cannot be wasted. The cost saving methodology will be adopted in this project management.

Team building

As per Coccia, (2015), Proper assigning of the responsibility among the team members is the key of team building for this project management. Trust can be built among the team members by assigning important task to all of the members of the team. Welcoming the new ideas among the team members strengthen the team overall. On the other side Behrens, et. al., (2014), argues that lack of explanation of the works between the team members will disturb the whole operations of the team. Presence of fewer resources among the team will also affect the whole team work.

The coordination among the team members will be helpful in accomplishing the important task of this project management. The compatibility between the employees of the team will be helpful in establishment of R&D department of ZZ Tech. while lack of planning among the team members regarding the project management work will disturb the project. Lack of accountability is the reason of team failure that can be the situation with any project. Therefore it is the necessity that all the team members should be accountable for the working of the team.

Risk management

As per Brettel, et. al., (2012), for the risk management it is very necessary to include the associated risk in the project. There can be financial risk, or failure risk. After that, prioritisation of the risk has to be done. Prioritisation of the risk can be done on the basis of level of harm that can be done by the particular risk. Damage control methods should be searched for minimising the risk associated to the project of establishment of R&D department for ZZ Tech. the other side according to Lee, et. al., (2012), communicating risk to the employees of the organisation will be helpful in finding out the solution of the particular risk. This can be possible with the help of new ideas given by the employees. These ideas will have a solution of mitigating the risk associated with project.

Tracking of the risk in the project management will be beneficial for the minimization of the risk. Risk responses can be implemented early as soon as possible. In this way effective management of the risk can be possible for the project management of ZZ Tech.

Change management

As per Coccia, (2015), Change management in the project management can be individual specific. The responsibility of the particular individual includes a change. The particular individual can be a leader, manager or an employee of the organisation. The adaptability of the change should be acceptable by the particular individual for the effective functioning of the project of ZZ Tech. on the other side as per organisational change can be possible with the coordination between the employees of the organisation Behrens, et. al., (2014), Such type of organisational change will be department specific. For the project management of R&D department Change management can be possible with the coordination in the support two organisations among the employees.

Stakeholders should be informed regarding the change that has to be accomplished in the project management of ZZ Tech. it will bring satisfaction among the stakeholders of this organisation. Stakeholders will help the organisation in accomplishing the change that is necessary for the project. The chances of success for the project will be more after involving the stakeholder’s suggestions. While in the words of flexibility among the employees and the stakeholder is the key of Change management

Implementation and monitoring Techniques

In the words of Chandrasekaran, et. al., (2016), Proper planning and scheduling of the different activities has been done in the initial steps. Measuring and reporting the work progress of the project is the Technique that can be used for the analysis of the project. Comparison of the actual activities with the planned activities is the Technique that can be used for the monitoring of project management. This will be helpful in easy accomplishing of the project management of establishment of R&D department for ZZ Tech. while in the words of Behrens, et. al., (2014), planning and implementing the corrective actions according to the different situations in implementing the project is the monitoring Technique of project management. This provides an opportunity to implement the project according to the situations and Critical condition that arises in between the project.

Updating of the operational schedule is to be done due to the change that take place for the establishment of R&D department of ZZ Tech. strategies regarding the Change management should be made accordingly for the implementation of activity associated to the task. Effectiveness can be analysed on the completion of project. In this way effective implementation of the project can be possible.

Question 5 (LO 4) Reflect on your learning from the PMT module and develop personal development plan

Leadership

Leadership is one of the most important qualities that are necessary for a project manager. It is the ability of an individual to lead a particular group. Various qualities are present in the leader. I want to become a good leader for the future. A leader should be honest. A leader is a fast decision maker. A leader is accountable to its employees and to the organisation. A leader believes in integrity.

Reason for the necessity of this skill

For the integrity of the organisation it is very necessary that the project manager should have good leadership skills. Leader is having ability to empower its employees. The motivation is very beneficial for the operation of the project (Schaeffer & Cruz-Reyes, 2016).

Communication

A good communicator always attracts the people. If the project manager is having good communication skill then the employees of the organisation will be attracted towards project manager. Good communicator has the ability to make the employees to do work according to the demand of the project.

Reason for the necessity of the skill

Important information can be shared between the employees of the organisation with effective communication. This will be helpful in time saving and mitigating the risk in the project. Quality in the project can be maintained with the help of effective communication among the employees and the project manager (Kalwa, et. al., 2012).

Scheduling

Scheduling of the project is done by the project manager. There is a limited time for the project. The project cannot be going on long. Therefore it is very necessary to have the scheduling skill in the project manager. This will be helpful in meeting of the deadline of the different activities associated with the particular project.

Reason for the necessity of this skill

Time and cost of the project can be saved with the help of this is skill. Accomplishment of the project can be possible within the decided time frame.

Risk and cost management

Different type of risk is associated to the particular project. This risk can be analysed well with the help of risk analysis by the project manager. The cost can also be cut by implementing the economical methods in the project according to the situation. Managing such type of activities is the great competency that is present in the project manager (Tosaka, et. al., 2016).

Reason for the necessity of this skill

The feasibility of the project will be possible with the help of cost and risk management. The chances of failure of the project will be less because of risk management.

Negotiating

A leader should be good negotiator. I want this skill should be in me after some years because a good negotiator is always in a Win-Win situation. A good negotiator can resolve the dispute between the employees of the organisation (Tosaka, et. al., 2016).

Reason for the necessity of the skill

Accomplishing the different activities of the project diplomatically will be beneficial for the accomplishment of the project for the ZZ Tech.

Various types of skills will be learnt by me with the help of personal development programme. The self-evaluation of the different skill can be done by in my personal development. 

Conclusion

The project management is the facility by which the establishment of R&D department for ZZ Tech can be possible. Easy accomplishment of the project management can be possible by analysing the scope of the project. There are different challenges associated in the key deliverables and scope of the project. Work breakdown structure provides is for accomplishing the different activities of the project. Different type of key stakeholders is associated with the project. It is very necessary to secure the engagement of stakeholder in the project. Monitoring and evaluation of the project can be possible with the help of various Techniques that are discussed in this assessment. Different competencies and skills can be learnt with the help of this project management.

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