Human Resources

PART 1:

Choose one of those goals and carry it through the strategic management process.Rewrite and improve the goal, but make your choice wisely. It will impact many of the upcoming project assignments. This assignment will require you to develop a staffing plan to attract, develop, and retain good employees to work on your chosen goal.

Goal Choice

Clearly state which of your three goals from your previous course project assignment that you wish to accomplish.
By placing part of assets to Research and Development to create a new product can pay dividends by entering a new and unique product into the marketplace.

Attract
What are three traits that you believe employees must have in order to help you accomplish your chosen goal? Explain your choices.
In detail, identify two strategies that you will use to attract qualified employees to hire.
How do these strategies fit with your chosen business and chosen goal?
How will your methods of attracting staff cater to a diverse work force? What benefits will your goal in particular gain from having a diverse team working together?
Develop

Will you train your employees online or face to face?
How does this choice fit with your chosen business and chosen goal?
What are two areas that training for new employees should cover? Why did you make these choices?
What are two areas that training for existing employees should cover? Why did you make these choices?
How will you design your training to ensure that employees effectively collaborate and work as a team?
Retain

In detail, identify two retention strategies that you’ll use to keep high performing employees.
What advantages and disadvantages does each of these strategies have?
PART 2:

Now that you’ve selected the goal you want to accomplish in your strategic management plan, it’s time to start budgeting out the costs that will be involved with its implementation. This assignment will require you to create an operating budget that takes into account the strategies and choices you’ve already made in previous sections of the course project.  It’s important that you carefully consider exactly what you’ll have to spend money on in order to successfully complete your goal. The numbers will be very general estimates, but you’ll need to show the ability to accurately identify the major costs. The categories and subcategories for the budget should cover most if not all of the new expenses that will be present.

Goal Choice

Clearly identify your chosen goal in an introductory paragraph.
Operating Budget

Create an operating budget for your goal.
The budget should include common categories and subcategories such as general operations, HR, marketing, miscellaneous expenses, etc.
Include all major expenses required for the goal. Common expenses include salaries, marketing channels, and inventory.
Connect the costs/categories that you’re considering to your already created marketing, management, and HR strategies discussed in earlier portions of the project.
Capital Budget

Identify two long-term assets from the capital budget that will play a role in the completion of your goal. These can be new purchases or existing assets.
Briefly explain the impact that each will have.

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