Eastern foods assigment Essay

Background: As the building work is going to be complete in July 1st and therefore there is a plan to start the business early in May 1st. To develop the business the Eastern Foods is facing the following challenges with regards to HRM, Accounting, Marketing and Operations Management. (a) Overview of Challenges Facing Eastern foods: Human resource Management (HRM) Human resource management is also identified as â€Å"personnel management†. There will be in detail study required of whole business for the recruitment of the new staff. There should be study of hierarchy of the management level that will be necessary to manage the operations of business. And what skills will be obligatory for conducting the operations of business. The workers that will be recruited must have the knowledge and experience relevant to the operations of East Foods Company’s business. Such as in production there must be those people who have best knowledge of production. The diversity on workplace will have to be considered like the marital status, sexual orientations, ethnicity etc. These all criteria must be set in consideration of requirement of work for example if work required at plant needs the male man power then the women cannot be recruited there. Similarly there will be requirement of special team for marketing of the new project from the marketing backgrounds like peoples who have studied in Business Marketing and have good previous experience in marketing. The human resource should be managed in following way Digram1 (Process of Human Resource Management) Finance: Finance is the most important part of any kind of business. Through accounting the transactions are recorded and summarized and the results are generated also the figures of profits are determined. For the complex and frequent transactions the accounting software and staff who know how to operate that software are required as will. The team should study that  weather the software are required for accounting for Eastern Foods business and if it is required then which software will be suitable and whether it should be bespoke software. Then the cost of purchasing and its annual subscription will be an issue. Marketing Marketing is also essential for the success Eastern foods. In marketing the need of the consumer are known and then make research on that specific need to produce it and after production that product is advertised for sale also Eastern Foods must develop the marketing mix (4 p’s): price, product, place and promotion. Therefore the project team has to pay special attention on marketing, there should be staff for the research to invent new products and produce it to meet the customer need and take the competitive advantage if you are the first one to invent that product. Then there should be selling team who must advertise it in market to make sale. (Diagram2) (Marketing Mix 4P’s of Target Market) Operations Management Operations management is section of business management which is concerned with supervision operations for example asset management , cost management ,designing, and calculating the process of production and redesigning business operations in the production of goods or services. It involves the responsibility of ensuring that business operations are efficient in terms of using as few resources as needed, and effective in terms of meeting customer supplies. It is concerned with managing the process that converts inputs (in the forms of raw materials, labor, and energy) into outputs (in the form of goods and services). For the success of Eastern Foods it is very necessary to run the operations in sequences and in smooth manner therefore project team has to focus on the planning of management of operation and designing of operation for new business is great task. For example after estimating the future sale the project team has to focus on required production. How the things will be produced, preserve and sold everything needs planning. Different models must be designed for operation management and the best one which is most efficient and cost-effective must be chosen. The HRM and operation management are the key issue and should be addressed in effective way to run the business in smooth manner. (b) Two key issues key issues and how they can be addressed: Operational Management To address the issue of operational management the management team which is responsible for the business activities that is going to be start on May 1st must be response in following manner (Diagram 3) Service management functions 1. Optimizing Before start of the business the following level of management must be optimized. I. Service level management There is monitoring and management of the quality of services and entity’s key performance in Service-level management. The key performance indicators range from coarse-grained availability and usage statistics to fine-grained entity-contained per-interaction indicators. There is comparison of actual performance with pre-defined expectations and determine suitable actions and producing meaningful reports in Service level management. II. Financial management In financial management there is effective and efficient management of money which accomplish the goals of organization. It is the specialized functions directly associated with the top management. The significance of this function is not only seen in the ‘Line’ but also in the capacity of ‘Staff’ in overall administration of a company. The financial management is defined differently in different fields. III. Capacity management Capacity management is a procedure used to manage information technology (IT). Its primary objective is to ensure that IT capacity meets current and future business needs in a cost-effective way. One common analysis of  capacity management is described in the ITIL framework. ITIL version 3 views capacity management as comprising three sub-processes: business capacity management, service capacity management, and component capacity management (known as resource capacity management in ITIL version 2). As the usage of IT services change and functionality evolves, the amount of processing power, memory etc. also changes. If it is possible to understand the demands being made currently, and how they will change over time, this approach proposes that planning for IT service growth becomes easier and less reactive. If there are spikes in, for example, processing power at a particular time of the day, it proposes analyzing what is happening at that time and make changes to maximize the existing infrastructure, for example, tune the application, or move a batch cycle to a quieter period. IV. Availability management Availability Management aims to define, analyze, plan, measure and improve all aspects of the availability of services. Availability Management is responsible for ensuring that all infrastructure, processes, tools, roles etc are appropriate for the agreed availability targets. V. IT service consulting management The practice of helping organizations to improve their performance, operates primarily through the analysis of existing organizational problems and the development of plans for improvement. Organizations may draw upon the services of management consultants for a number of reasons, including gaining external (and presumably objective) advice and access to the consultants’ specialized expertise. VI. Work force management Encompasses all the activities needed to maintain a productive workforce. Under the umbrella of human resource management, WFM is sometimes referred to as HRMS systems, or even part of ERP systems. Recently, the concept of workforce management has begun to evolve into optimization. One main player in WFM Optimization and WFM BPO is Workforce Insight (WFI). VII. Infrastructure engineering Infrastructure is basic physical and organizational structures needed for the operation of a society or enterprise or reproductive system ,[1] or the services and facilities necessary for an economy to function.[2] It can be generally defined as the set of interconnected structural elements that provide framework supporting an entire structure of development. It is an important term for judging a country or region’s development. VIII. Security management Security management is the identification of an organization’s assets (including information assets), followed by the development, documentation, and implementation of policies and procedures for protecting these assets. After the step of optimizing there is step of changing of management according to business need. 2. Changing The changing process are consists of three steps. I. Change management The management is changed as per current requirement of business activities it may be shuffle in different departments or may be fired and recruited new one. II. Configure Management After deployment of new management the staff is configured in right way to do effective work to generate the results which is goal congruence. III. Release management After training of management it is released to do work. 3. Operating I. System administration When the management is trained and deployed and functions have been started then there is need of administration on all system of business like procurement, production, storage and sales. II. Security Administration The operations of security must be administered by admin department because for safeguarding of assets the security is very important. With the help of effective security the accidents can be avoided. III. Service monitoring and control To maintain the quality there must be effective control on all services like the procedures of procurement and production must be monitor to maintain the quality. IV. Directory monitoring administration Directory monitoring administration play important role in smoothness of operations. V. Network Administration For the fast communication there is highly need of suitable network. Therefore the networks like internet, mobiles and telephone exchange must be properly hold by company. VI. Storage management The stock must be preserved in effective way to avoid the loss and to maintain the quality of products. VII. Job Scheduling The staff must be available every time to continue the operations therefore the roster must be maintained and monitor. 4. Supporting I. Service Desk A Service Desk is a primary IT service for in IT service management (ITSM) as defined by the Information Technology Infrastructure Library (ITIL). It is intended to provide a Single Point of Contact (â€Å"SPOC†) to meet the communication needs of both Users and IT employees. II. Incident Management Incident management is a term describing the activities of an organization to identify, analyze, and correct hazards to prevent a future re-occurrence. These incidents within a structured organization are normally dealt with by either an Incident Response Team (IRT), or an Incident Management Team (IMT). These are often designated before hand, or during the event and are placed in control of the organization whilst the incident is dealt with, to restore normal functions. III. Problem Management Problem management is the process responsible for managing the lifecycle of all problems. The primary objectives of problem management are to prevent problems and resulting incidents from happening, to eliminate recurring incidents, and to minimize the impact of incidents that cannot be prevented. The Information Technology Infrastructure Library defines a problem as the cause of one or more incidents. HUMAN RESOURCE MANGEMENT: Human resource management (HRM) is the management process of an organization’s workforce, or human resources also the main foundation in management activity of any Business is the HRM. It is responsible for the attraction, selection, training, assessment, and rewarding of employees, while also overseeing organizational leadership and culture and ensuring compliance with employment and labor laws. In circumstances where the employees’ desire and they are legally authorized to hold a collective bargaining agreement, HR will also serve as the company’s primary link with the employees’ representatives. HR is a product of the human relations movement of the early 20th century, when researchers began documenting ways of creating business value through the strategic management of the workforce. The function was initially dominated by transactional work, such as payroll and benefits administration, but due to globalization, company consolidation, technological adv ancement, and further research, HR now focuses on strategic initiatives like mergers and acquisitions, talent management, succession planning, industrial and labor relations, and diversity and inclusion. In startup companies, HR’s duties may be performed by trained professionals. In larger companies, an entire functional group is typically dedicated to the discipline, with staff specializing in various HR tasks and functional leadership engaging in strategic decision making across the business. To train practitioners for the profession, institutions of higher education, professional associations, and companies themselves have created programs of study dedicated explicitly to the duties of the function. Academic and practitioner organizations likewise seek to engage and further the field of HR, as evidenced by several field-specific publications. HR is also a field of research study that is popular within the fields of management and industrial/organizational psychology, with research articles appearing in a number of academic journals, including those mentioned later in this article. In the current global work environment, all global companies are focused on retaining the talent and knowledge held by the workforce. All companies are focused on lowering the employee turnover and preserving knowledge. New hiring not only entails a high cost but also increases the risk of the newcomer not being able to replace the person who was working in that position before. HR departments  also strive to offer benefits that will appeal to workers, thus reducing the risk of losing knowledge. 1. Recruitment Management The recruitment is most important step in human resource management. It must be consider that the staff recruited by the management should be suitable to run the operation of business. For this purpose different techniques of recruitment can be obtained like written test, aptitude test and interviews. And different task base test this step must be done to identify the candidates and to have the decision which candidate to accept it. 2. Employee Management Once the employees are recruited they should be trained and then deployed in their relevant roles and their performance should be evaluated. 3. Shift Management The roster of employees must be scheduled and their shift should be managed in a manner that there should not be any discontinuity in operation of business. 4. Attendance Management The attendance register of employees must be regularly maintained and monitored by authoritative person. 5. Leave Management The annual leave days allowed must be decided and employees should be given holidays according leave rules. 6. Payroll Management The remuneration or salary must be decided according to the ranks and work of employees. And remuneration must be performance oriented to motivate the employees. Conclusion: Plan for Organization In conclusion to run the organization successfully we need to set up all the four key functions Accounts, HRM, Operation Management also marketing on similar basis. There should be finance for running the operations therefore we have to arrange the investors. Then we have to implement the designed operations like procurement (must be different department) and the production unit must be installed and relevant recruited staff will be deployed in unit. Likewise the warehouse to store the products and there should be selling and delivering man force to make sales. And the skilled  man force is needed for marketing to enhance the sale. And there will be accounting software and professional staff to record the transaction and generating results. The managing of operations will be required on ongoing basis in other words the operation must be monitors and results must be match with targeted performance. 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