Business Essay

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Business A2 paper BUSS3 Strategies for Success Analyse two potential benefits of Out and About plc’s current ‘soft’ human resource management strategy. (10 marks) A ‘soft’ human resource management strategy consists of treating staff well, and they are important 'assets’ to the success of the business. One possible benefit of having a ‘soft’ HRM approach is that labour retention is higher than using a ‘hard approach’. We can see that this is the case for Out and About Plc because there is 13% decrease in labour turnover, compared to the industry average. If staff does not leave, this creates stability, team work and lower costs, as less will have to be spent on training and also recruitment and selection. A second benefit of adopting a ‘soft’ HRM approach is that it creates motivation for the employees. Maslow argues that we all have ‘self actualisation needs’, which Out and About implement, by having ‘employee groups who consult on major business decisions’. This creates job enrichment, which will boost motivation, and as a consequence, improve efficiency, a firms competitiveness and customer service. This will all contribute to an overall success of firms corporate objectives. What do you consider to be the most important influence on Lisa’s marketing plan? Justify your view. (18 marks) A marketing plan is a written document, which contains current and future plans, and the strategies involved in their success. They normally contain a scientific approach, which leads to a detailed guide to implement objectives. I believe that the most important factor influencing Lisa’s plan, is the current success of Out and About Plc and the potential success which could be available to them if they adopted a market development strategy. Firstly ‘market share and profits have declined’, which suggests some sort of innovation is necessary for the future success

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