Bus 201 Concepts in the contemporary management environment

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Bus201: Concepts in the contemporary management environment

Justin time inventory management

Thejust in time inventory, which is abbreviated as JIT management refersto a system to by organizations to reduce the carrying, as well asthe in-process costs. This is achieved by ensuring that the companyreceives goods or raw materials only when they are required in thefirm’s production process. For example, Toyota Company, whichoperates in the automobile industry, has a fine tuned inventorymanagement system that ensures that all items as received in theassembly sequence at a time when they are needed, in the rightquality, and quantity (Smith 3). This has allowed the Toyota Companyto optimize and smooth its workflow by measuring on-demand flow ofgoods and work cycle times. This has allowed the company to reducethe overall cost of producing motor cars by lowering the cost ofholding large amounts of stock.

Performanceappraisal

Performanceappraisal refers to a system in which the human resource consultantsor organizational managers evaluate the performance of the members ofstaff and reward them according to the results of the evaluationprocess. Performance appraisal is mainly conducted to determine themembers of staff who might require additional training, demotion, orpromotion. For example, Google Incorporation conducts performanceappraisal for its employees regularly. Google’s appraisal focuseson two major employee characteristics, namely good leadership andmentoring qualities (Chelniciuc 1). This has allowed Google to offerits employees with different training programs depending on theirneeds and reward them according their respective performance.

Humanresource planning

Humanresource planning is a concept that refers to the systematic planningthat is done by the human resource department with the objective ofattaining an optimum use of human resources. The primary objective ofHRP is to help the organization maintain the best fit between tasksand employees. It also helps the organization in managing the issuesof staff surplus and shortage. Apple is a multinational company thatutilizes HRP strategy to bring the most experienced and competentemployees into its workforce (Bisla 2). Apple implements its HRPstrategy by recruiting qualified employees who have the capacity toadd more value to its products and to retrain the existing staff inorder to increase their productivity.

Externaland internal recruitment

Internalrecruitment refers to a strategy in which the human resourcedepartment searches for employees to fill certain positions from thepool of existing employees. External recruitment, on the other hand,refers to a strategy that is used by the human resource department tosearch for employees outside it’s the organizations pool of theworkforce. Either of the two strategies is used depending on thesignificance of the job position that is being filled and theultimate objective of the human resource department in fillingcertain job positions. McDonald’s chain of restaurant recruitmentboth internally and externally. Employees who have gained experiencesare given strategic job positions, but the company keeps onrecruiting additional employees to sustaining its rapid growthBusiness (Case Studies 1).

Communicationprocess

Thisprocess is achieved with the help of four elements, namely thesender, receiver, channel, and the message. The sender of a givenmessage encodes the message, while the receiver is expected to decodeit in order to get the intended information. An effectivecommunication process facilitates the sharing of information betweenpersons, with the objective of ensuring that the all the partiesunderstand the message as intended. For example, MicrosoftCorporation has been enhancing its working process by adopting aninternal communication process that facilitates knowledge sharingamong the employees (Smith 3). This facilitates a smooth workflow,which in turn enhances organizational performance.

Conclusion

Thefive concepts considered in this paper are critical in the managementof the firms operating in the contemporary business environment. TheJIT system helps companies in reducing the overall cost ofproduction. Performance appraisal help firms in rewarding theiremployees accordingly and identifying knowledge gaps in theirworkforce. Human resource planning is used by organizations to ensurethat they get the best out of the workforce. Both the external andinternal recruitment are strategies used to help firms get competentemployees to fill various job positions. An effective communicationstrategy ensures that the parties to the communication understand themessage as intended.

Workscited

Bisla,N. Human resource planning. Academia.2014. Web. December 16 2014.

BusinessCase Studies. Recruitment, selection, and training for success. BCS.2014. Web. December 16 2014.

Chelniciuc,A. Performance management at Apple, Google, and Statoil. TheKPI Institute.Web. December 16 2014.

Smith,A. Technology change at Microsoft. Academia.2014. Web. December 16 2014.

ToyotaCorporation. Just-in-time. ToyotaCorporation.2014. Web. December 16 2014.