Generally, the paper "Appropriate Business Structure, Benefits and Risks " is an outstanding example of a business assignment. Effective management and success of business firms, today, rely on the use of the appropriate model. An appropriate business type is the one that has greater benefits than risks. The company should employ suitable people management theories and practices in order to ensure high-performance levels, employee and customer satisfaction. The development of HR specialists is vital in every organization that seeks continuous success by proper human resource management. Therefore, this paper attempts to examine the appropriate business structure, benefits and risks involved, appropriate management theories and practices, as well as considerations for senior management and HR specialists. Background I have been employed in a medium-sized manufacturing company as an operation manager.
The company currently has a gross turnover of more than £ 5 million, 5 directors, 300 workers, and 25 managers. This company employs outsourced support for information technology systems, payroll, finance, and human resource specialists for recruitment. Our company has won contracts that are sufficient to take it to the next level with a projected increased turnover of £ 20 million in 2 years.
Therefore, the company needs to recruit extra employees and as per our philosophy, we employ locally. Nonetheless, we are situated in a developing locality where most of the people have basic academic qualification; hence, unable to quickly develop extra skills and learning so as to ensure the firm’ s consistent success. To address this issue, our directors have scheduled a meeting in which the firm’ s action plan is developed. Every manager is assigned a specific task to manage, and mine concerns human resource management, particularly on how the company can employ highly committed and engaged personnel. Our company is a corporation that has adopted a functional structure, which entails the differentiation of jobs around speciality areas (Daft 2009, pp.
104-107). For instance, in the company, there are human resources and accounting specialists that are employed to address these specialized roles. Here, the functional line managers are expected to report to the CEO, but commonly have independence in the day-to-day decision making, such as firing and hiring employees.
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