Discuss how an organisation's competitive advantage can be enhanced Essay

Discuss how an organisation's competitive advantage can be enhanced with the introduction of new technology - Essay Example If according to the analysis the expected revenue is more than the technology’s cost then only the company should plan to take the decision of installing the machine. There are several benefits of implementing technology; some of them are discussed as follows: Technology helps reduce cost One of the most renowned company, Procter & Gamble makes use of latest technology to reduce its inventory cost. This company makes efficient use of computer technology to keep track of the amount of products or items that its retailers currently hold in stock so that it can immediately get restocked when required. Makes Distribution Easier Right coordination between distribution channels is not very easy but with the introduction of new technologies, this task has been made easier for the organizations. Just-in-time system helps in better planning of item delivery and can reduce cost of storage. Thus, implementing technology in the distribution process and doing extensive research and intelle ctual planning can help improve delivery time and give organization an opportunity of further growing their business worldwide. Increased Revenue As mentioned earlier, implementation of technology also results in increased revenue. Lets take an example of a very popular automobile company â€Å"Ford†. Ford today is considered to be a technology driven brand. According to the vice president of Ford, Derrick Kuzak, every product sold has added to increased revenue. He further stated that average revenue per vehicle has increased up to fourteen percent from the year 2008 to the year 2009. This increase was due to the implementation of latest technology, â€Å"Sync in-car communication system† in the vehicle. This system provides car drivers a hands free facility to control their cell phones and media systems. Derrick Kuzak stated â€Å"Technology has contributed majorly in enhancing our brand and further expanding our business† Makes Communication Easier Advancemen t in technology also makes communication easier and faster. Through the introduction of new cell phones like blackberry, easy communication between employees through email and blackberry messenger has been made possible. Blackberry service notifies the employees about any new email that comes in their inbox and allows easy exchange or transfer of files and images, providing them with an opportunity, to perform their job sitting home. Various Technologies presently being used in Organizations Majority organizations implement Transaction Processing Systems. This system helps produce data, based on daily operations happening in the company. It produces data regarding inflow and outflow of materials, sales, credit and deposits etc. In simple words, this system provides an answer to all the queries that operational managers might have on daily basis. Another most useful system that is being used world-wide is the Management Information System (MIS). This is a technology that is useful fo r producing reports containing information useful for middle level managers to do short - term assessments. There are several other useful technologies or systems that help companies gain competitive

Strategic Human Resource Management (SHRM) Essay

Strategic Human Resource Management (SHRM) - Essay Example This is precisely the reason why we have witnessed a shift from bureaucratic approach from the beginning of 19th century, to humanistic approach. While performing literature reviews and discussion with HR/ HC executives to understand strategic human resource management, I have found that SHRM gives a quantifiable value to contributions made by HR teams and helps them develop HR architecture and workface that aliens well to organizational objectives, giving rise to a competitive advantage. Careful analysis of strategic HRM reveals that human capital management is mandatory for today’s rapidly changing environment. In my view, the pace shown by today’s organizations and enterprises demand a fast-responding HR management teams that can alter the orientation of human capital with reference to organizational goals. This analysis of today’s human resource management practices had made me develop an understanding of this basic concept of strategic HRM. Through literatur e review and practical observations, I have observed that SHRM gives a new direction to traditional administrative role of HRM. It is about alienating the role and behavior of the workforce in a manner that corresponds to organizational objectives, mission and vision (Vosburgh, 2007). This is precisely the point where the concept of HR business partnership emerges. Going through present theories and thorough discussion with some of HR acquaintances has helped me develop an understanding that HR business partnership needs capital investment which is a sole decision made by organizational leadership. Without knowing the return on investment, it is difficult for management to provide funds for future developments. Here, SHRM emerges as the crutches that today’s weak Human capital managers need. This concept helps HR managers to analyze the value that they can bring to the business like other strategic functions of the organization (Scott-Jackson, 2009). Further discussions with HR executives helped me gain more insight of SHRM theory. In my view, SHRM defines a road map for HR executives via whom they can devise tools for acquiring and retaining suitable human capital that is well-versed with organizational practices and owns suitable skills set inventory. In addition to that, it is also important to ensure that this human capital is provided with necessary extrinsic and intrinsic benefits in order to keep them motivated. Where HRM has core responsibility of above mentioned functions, SHRM moves one step forward by devising frameworks through which HR systems and practices can actually assist organizational leaders in enhancing organizational performance and development. Hence, in my view, SHRM is a tool for gaining a competitive advantage that allows organizational management to achieve its business targets in an effective manner (Becker & Huselid, 2006). This understanding of SHRM function made me perform further analysis of the techniques used or sugges ted by today’s executives for achieving the objectives of this new regime. In order to gain this understanding, I performed a thorough analysis of various organizational models and live case studies. Through this research, I came to know that the foundation of SHRM is an understanding of the organizational objectives and goals in financial terms (Becker & Huselid, 2006). Once these concrete figures are available, HR executives are required to present HRM