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HRM and Organisational Turn Around: Value Addition Through HRM Case Study: Selfridges and Co - Essay Example

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HRM and Organisational Turn Around: Value Addition Through HRM Case Study: Selfridges and Co

Having segregated itself from the Sears group in, 1998, the Selfridges group started out with an investment of 100 million pounds. This was diverted towards the opening of its second store in Trafford Park. This mall houses 280 stores and enjoys a wide clientele from various parts of Europe and the rest of the world. (Hutchison et al, 2003) The human resource role and organisational turnaround have been discussed in this paper from the point of view of the premise of competitive advantage as follows:
The world of commerce in this era is one where there is an amalgamation of a global market place as well as the theories of competitive advantage with the strong backing of innovation. (Green, 2002) Any marketer or producer in this modern market place needs to adhere to these practices and theories in order to gain any measure of success, whether small or big. In this regard, the role of the HR element in Selfridges plays on its overall brand equity and effective goal achievement program. (Park, 1994)
Before delving any deeper into the paper, let us fist consider the elements of the modern world of commerce. The world has shrunk to accommodate the limitations of the geographical demarcations and expanded to transgress the same by reaching out to people from all corners of the world. (Tirole, 1990) This has triggered a phenomenon called the global village concept, which is basically depend on the information technology, communication and a unified mode of business and commerce. Thriving in this global scheme of things indicates an affiliation with keeping abreast of what is going on in every corner of the world and adapting oneself to make profits accordingly. (Hutchison et al, 2003) This is owing to the fact that a manufacturer can now see his name in the most unexpected of places and in order to get there, he needs to be able to keep with the latest and improvise on the same to create his own unique brand and unique selling point or USP. (Fieg, 1993)

What has been described in the above lines revolves around the theories of competitive advantage. This theory goes beyond the traditional theories of demand and supply. Competitive advantage relies on the creation of production and marketing strategies in tandem with consumer and competitor touch points. (Hamel et al, 1996) These touch points have been studied in order to find the nuances where the producer in question has any scope of profitability. This, in turn, relies on the assumption that there are no two exact manufacturers in today's market place and that there is ample space for all kinds of marketers and producers. (Johnson, 1996) In this regard, the HRM policies in Selfridges are dictated by such events in its external environment so as to project the brand as a cohesive whole. (Kash, 2002)

Competitive Advantage and Sustainable Entrepreneurial Growth: HR Policies
Before laying down the formal plan of action, it is necessary to understand the elements that have been involved in the HR strategy that has dominated Selfridges. This will help us understand the exact application of the theories through the length and breadth of the paper. (Johnson, 1996) A major part of Selfridges' plan of action included following a strategy based on gaining competitive advan ...Show more

Summary

This paper seeks to discuss the new role of the Human Resource element that has emerged in Trafford Park Store of Selfridges and Co that has in turn led to an organisational turnaround in terms of performance and value added service.
This company became one of the most successful names in retail towards the 1990s…
Author : medhurstelian
HRM and Organisational Turn Around: Value Addition Through HRM Case Study: Selfridges and Co essay example
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