MGMT5908 Strategic Human Resource Management-Take Solutions Ltd
In this assignment you are required to prepare and submit a Powerpoint presentation that links the organisation’s external circumstances, a proposed business strategy and a proposed HR strategy, using a framework that will be introduced during the course.
Specifically, you will need to develop a HR strategy that adequately supports the business strategy for the organisation that you have devised. This business strategy will be based on your assessment of the external and context of the organisation and the organisation's goals.
The audience is the organisation’s board of directors.
This presentation will be no longer than 15 slides, not including the cover page that contains your name and key details, and a page(s) that contains reference details. A Powerpoint presentation of 15 pages will be deemed to meet the word requirement for this assignment.
Key issues to address in your presentation:
(i) Did the presentation contain details about the external environment of the organisation Was the STEEPLED analysis coherent Are the main opportunities and threats explicitly identified.
(ii) Is there a clear statement of business strategy Is there a clear logic for the business strategy
(iii) Is there a clear recognition of the organisation’s HR-related strengths and weaknesses in being able to implement the business strategy
(iv) Is there a clear statement of HR strategy Is there a clear logic for the HR strategy How well does it support the business strategy given the strengths and weakness analysis
(v) Is the presentation organised in a coherent manner
You will not need an executive summary because the document is so short.
No minimum number of references is required. However, if you draw on the argument or the evidence of someone else you are obliged to acknowledge the source.
The point of the assignment is NOT to report the existing understanding within the organisation, or to tell the story of the business. The point is for you, the future practitioner, to make an independent assessment of the facts of the organisation and identify an appropriate business strategy, HR strategy. So, you will need information that enables you to carry out that analysis.
Answer:
Headquartered in Chennai, India, Take Solutions Ltd. delivers comprehensive domain oriented solutions and services in Life Science and Supply Chain Management (Takesolutions.com 2018).The company has a well recognised global market with a strong presence in Asia, North and South Americas and Europe (Takesolutions.com 2018).
It caters to cost-effective and expert solutions and services to these regions across diverse portfolios like pharmaceuticals, consumer packaged goods, technology and automotive.Take Solutions is the proud owner of several niche brands that deliver transformative and analytical solutions to its global citizens. These include Navitas, Acunova, Ecron and Intelent (Takesolutions.com 2018).
The high-impact solutions of the company provided by its four divisions operating within the life-science domain follow specific result-driven strategies explained as follows:
Clinical- Aimed at developing clinical intelligence from multiple data sources
Regulatory- Aimed at ensuring regulatory compliance
Safety- Aimed at implementing comprehensive vigilance systems
Commercialisation- Aimed at ensuring best practices across sales, distribution and supply
Global Expansion of market by focussing more on the US and European Clients (More and Basu 2013).
Engaging in Productive Partnerships.Enabling an improved and balanced offering mix.Take Solution’s Customer Profile has revealed that the highest number of customer engagement account for Pharmaceuticals, closely followed by biotechnology and Medical Devices.Such diversity in prospective customer base requires active focus in maintaining the stability of supply chain. This is where Take Solutions strives to merge the strategies applied in its two separate domains (Phan, Siegel and Wright 2016).
The company achieves these goals by active monitoring and control of the inventory and streamlining the material management process with better performance.The Strategies of the entire business service of Take Solutions is supported by four divisions Research and Development and Engineering services
Procurement Operations
Contract Administration
Supplier Performance
There are various External Variables that determine the quality of survival of a business in its surrounding environment. These include Demographic- It comprise of the group of citizens characterised by age bracket or gender diversity for whom the product would be manufactured.Political- Stability in political and governmental practices enable companies like Take Solutions to manufacture drugs and also control their sales distribution.Legal- Legal factors are related to the company’s compliance with health and safety concerns, IPR and Narcotic Act.
Technological- It is related to providing opportunity for technological innovation in medicinal drug manufacturing
There are various External Variables that determine the quality of survival of a business in its surrounding environment. These include Demographic- It comprise of the group of citizens characterised by age bracket or gender diversity for whom the product would be manufactured.
Political- Stability in political and governmental practices enable companies like Take Solutions to manufacture drugs and also control their sales distribution.Legal factors are related to the company’s compliance with health and safety concerns, IPR and Narcotic Act.
Technological- It is related to providing opportunity for technological innovation in medicinal drug manufacturing
The macro environmental analysis of Take Solutions have revealed the position of its market structure with respect to certain threats and opportunities as follows:
India has been recognized as a potential outsourcing hub in global forum owing to its low cost skilled labour.The recent years have witnessed a huge growth and supply in bio-pharmaceutical products.Active collaboration between private and public enterprises which have strengthened infrastructure.The demand for high quality diagnostic service have also increased considerably.
Government’s decision to expand the drug price control order.Other countries like China and Israel giving tough competition to India with respect to meeting low-cot outsourcing demand.New foreign entrants who are well equipped with advanced technology based products.The adverse effects of wage inflation posing threat to financial management.The HR Strategies in an organisation refer to the aspects of:
Organisational culture
Job Structure and Role Delegation
Recruitment and Selection
Short-Term and Long-Term Planning
Training and Development of the Employees and
Maintaining the Health and Well-Being of the Employees
Take Solutions is well known for maintaining an exceptional participatory organisational culture.It has enforced a defined mantle to keep track of employee motivation like the Employee Motivation Meter comprising of a set of initiatives.For the purpose of setting a benchmark in employee performance, Take Solutions has introduced several stress-busting and well-fare initiatives coupled by interactive sports and recreational facilities (Phan, Siegel and Wright 2016).
The company boasts of employing highly skilled English speaking labour force who have good knowledge about the manufacturing process of advanced technological devices.The company has a subsidiary that specialises in Big Data Analytics in Life sciences. This has resulted in greater volume of consignments leading to exponential growth in employment opportunities (Aithal 2017).
Through cutting-edge technology, Take Solutions has been able to establish exclusive alliance with leading data aggregation expanding its list of strategic partnerships with low cost richer functionalities.It has an excellent global reputation for implementing noteworthy HR policies and practices. It has represented in WORLD hrd Congress and won several awards like “Best Employer Brand”, “Dream Company to Work for” (Takesolutions.com 2018).
India being a Developing Nation, any organisation, specially those dealing with biomedical products and services suffers from the halo effect of having a all round poor infrastructure.The biomedical industries are still in a developing phase. As a result, there is presence of more unorganised players who, in their attempt to expand their markets, have introduced such products and services which has increased the level of competition (IN 2018).There is less awareness among the customers regarding the utility of services provided by the bio-pharmaceutical and bio-medical industries.
Conclusion
In conclusion to this presentation it can be stated that workplace management in Take Solutions comprise of looking after a myriad of business relevant to the other aspects of corporate governance. It is not a constricted are but a network of interrelated aspects in R&D, marketing, production, service delivery and maintenance along with people management. The Governing Body’s efficient and visionary approach has enforced the much needed improvement in workforce culture. This has also facilitated growth, stability and sustainability of the organisation.
References
Aithal, P.S., 2017. Company Analysis–The Beginning Step for Scholarly Research.IN. (2018). Company Profile for ${Instrument_CompanyName}. [online] Available at: https://in.reuters.com/finance/stocks/company-profile/TAKE.BO [Accessed 28 Sep. 2018].
More, D. and Basu, P., 2013. Challenges of supply chain finance: A detailed study and a hierarchical model based on the experiences of an Indian firm. Business Process Management Journal, 19(4), pp.624-647.
Phan, P., Siegel, D.S. and Wright, M., 2016. Science parks and incubators: observations, synthesis and future research. In TECHNOLOGY ENTREPRENEURSHIP AND BUSINESS INCUBATION: Theory• Practice• Lessons Learned (pp. 249-272).
Sadgrove, K., 2016. The complete guide to business risk management. Routledge.
Silvestre, B.S., 2015. Sustainable supply chain management in emerging economies: Environmental turbulence, institutional voids and sustainability trajectories. International Journal of Production Economics, 167, pp.156-169.
Takesolutions.com. (2018). TAKE Solutions christens its Life Sciences business as ‘Navitas’. [online] Available at: https://www.takesolutions.com/take-solutions-christens-its-life-sciences-business-as-navitas [Accessed 28 Sep. 2018].
Takesolutions.com. (2018). TAKE Solutions. [online] Available at: https://www.takesolutions.com/ [Accessed 28 Sep. 2018].
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