1. most distinctive and renewable resources on which

1.   
Are
people always an organization’s most valuable asset? Why or why not? Name other
strategic or valuable assets of organizations?

An organization is an entity that put person or group of
people together to achieve a certain goal .An organization is best viewed as a
system that is unified to achieve goals. Organizations should also have vision,
mission, values and so forth.

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Yes, people are a valuable asset because employee skills, compensation,
leadership development, workforce training, change management, knowledge, and
abilities are among the most distinctive and renewable
resources on which can be drawn by company. Their strategic management is more important than ever.
It takes people to build a business.

Change
Management

Since this is generally not a focal point for HR professional training and
development, change management represents a particular challenge for
personnel management. The WFPMA finds that “This may also be the reason
why it is cited as the foremost issue as HR continues to attempt to help
businesses move forward. An intensified focus on training may be needed to
develop added competencies to deal with change management.”

Competition

 In today’s scenario of business management, it
is a good start to keep in mind that as the days go by, competition is on the
rise. Change is a major aspect in today’s business, everything is fast-paced
and hustled. It will be easier to think that you can maintain one product which
is a success, but as a note, others may adopt and improve on your product, here
others would have a win against you.

Knowledge and Growth and Development

Knowledge refers to a command
of a body of gathered fact. Knowledge comes from discovery, past experiences
and more. In a workplace, communication with the environment can bring
knowledge or even so, acquiring knowledge from co-workers. And, as a human, the
unexplainable ‘intuition’ will remain unexplainable. Some call it instinct,
sourced from ‘survival of the fittest’, while others call it an innate human
capability that everyone possesses, the only difference is whether you are
aware of it or you are not.

Talent and Skill

The word talent refers to the
innate ability that one is born with. Talent is an important aspect as a part
of an organization’s most valuable asset. On the other hand, a skill refers to
learned abilities. The previous generations will enter retirement sooner or
later. There are a lot of young people surfacing, starting on their careers.

Commitment & Motivation

The word commitment may bring
different meaning to different individual. But, in the case of human capital, a
commitment should be taken seriously by employers and employees. As a basic
understanding, a better commitment of an employee would bring a greater work
productivity result.

Creativity

Creativity is often
associated with thinking outside of the box, thinking differently than how most
people do. This is important in an organization if a desire to excel is
present. As competition is rising with every passing minute, it is vital for an
organization to generate creativity that in return would establish a uniqueness
of the organization. This uniqueness may vary from one industry to another.

 

2.   
What
are the pros and cons of having a more diverse workforce? Is Canada in a better
position to compete globally because of its diverse population? Find examples
from a school or work project where having a diverse team made a difference and
explain that difference.

Pros to diversifying

1. Innovation

People from various
backgrounds and cultures don’t think or work alike, thus it encourages more
outside-the-box thinking that leads to new inventions and discoveries.

2. Profitability

A diverse workforce knows how
to market and sell products & services to a diverse consumer population;
marketing is all about understanding the end-consumer and there is no better
way of doing it than by recruiting the people you’re trying to sell to.

3. Talent pools

A wider selection of people
is made available, i.e. the entire world should be your recruitment shopping
basket. Why limit yourself by recruiting only those from a particular
university, educational background, or career path? Be daring and venture out
into the unknown – you will be surprised to find many talented and gifted
people that will over-deliver and surprise you if given the right opportunity.

4. Multiform

A variety of people with different
skills and experiences are able to specialize and address various
service/product areas in your business; the all-round overachiever or corporate
superhero is hard to come by and it’s probably best to recruit people who have
different skills and strengths instead.

Cons
to diversifying

1. Conflicts

People often feel confused, threatened or
even annoyed by individuals with views and backgrounds very different from
their own; constructive disagreements can become power struggles and create a
bad political atmosphere that hinders project advancements.

2. Bureaucracy

Decision-making can be delayed due to
diverging views and opinions, thus corporate decisions and actions take time.

3. Unproductivity

Dissimilar cultural identities and
values, or simply said when people lack things in common, could negatively
affect the overall team spirit that is essential for reaching high-levels of
productivity.

 

4. Disunity

Everyone in the company might have a different opinion on the
way business should be run and managed; thus, the company might have people
doing their own thing, especially if there is no protocol and authority to
ensure common practices.

 

                                Canada is in a
better position to compete globally because of its diverse population. Canada’s diverse and multicultural society gives us a comparative
advantage that leads to greater economic prosperity. Research shows that
diverse organizations make better decisions, and companies with diverse
leadership see rewards in their bottom line. 

Business leaders, both at home and abroad, tell us that the
country’s diverse work force makes Canada an attractive
partner for investment and trade. As one executive of a high-tech company
noted, “I want my team to be diverse, and I know I can get that in Canada.” Research
from the Conference Board of Canada shows that
businesses operated by immigrant entrepreneurs are twice as likely to export
outside Canada and the
United States, and not necessarily to their country or region of origin.

In our work project, all groups make their different
strategies to complete the project. We all groups worked on a same group but at
last, some difference can be seen in each project because of every team follow
different points to fulfil work project. Our team members work on different
responsibilities like design, code, analysis, research on material, test and
other sub parts of that responsibilities.

 

3.   
Suppose your boss asked you to summarize the major
people-related concerns in opening an office in china. What issues would be on
your list?

Some issues that would be on my list are that people worry
that free trade is creating a “have/have not” world economy, in which the people in developing
economies and the world’s environment are being exploited by
companies in richer, more developed countries. Some other issues would be
staffing, training,
and compensation.

 

Money Problems

The majority of small businesses that
fail do so because of lack of cash. A 2004 U.S. Bank study said that 79 percent
of small business failures cited “starting out with too little money” as one of
the reasons for the business downfall. Often, this is because owners borrow
based on their ideas of a successful business, instead of borrowing for a
worst-case scenario. A start-up business owner needs to be optimistic, but
often is too optimistic about seeing profits. Without adequate cash flow, slow
sales or a downturn in the market can end the business before it has a chance
to gain momentum.

Poor
Marketing

A common problem for new business
start-ups is to hurry into elaborate print advertisements and radio commercials
without knowing the target market and researching other market data. The costs
associated with marketing and advertising can be expensive. If a business does
not know who its target market is, then it may be a waste of money to print
these ads that may contain incorrect messaging or have them appear placed in
publications that don’t reach the company’s target market.

Managing Work and Home

A business start-up requires a
tremendous time commitment and a strong will. Add to this the financial stress
of a fledgling business. Start-up business owners often have problems balancing
the overwhelming demands of the company with the needs of a family. If the
stress of the workplace spreads into the home, the business owner may feel
pressure around the clock.

Poorly
Priced Products, Services

Although you may be competing
with the big box stores, you will most likely not be able to price like these
stores. The nationwide and international companies obtain products at
rock-bottom prices because of the sheer quantity of goods they orders and
thanks to exclusive supplier contracts. Pricing your goods and services too low
can delay the process of turning a profit. Instead of erring in this way, list
fair retail prices, and make sure your start-up excels in customer service. You
also should have a convenient location and hours.

 

 

 

 

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