BES2

• BUSINESS ENTERPRISE SIMULATION FOURTH QUARTER REVIEWER Team President, Academics Committee
• LESSON 1: HUMAN RESOURCE MANAGEMENT
• HR TRENDS 2024

  • Generative AI to Streamline Processes
  • Healthy Organization Framework
  • DEI (Diversity, Equity, and Inclusion)
• Diversity

  Welcoming people from different backgrounds, cultures, sexual orientations, etc.
• Equity

  Gives equal accessibility even if you have a different demographical background
• Inclusion

  Allowing all people to participate
• "Diversity is being invited to the party. Inclusion is being asked to dance.": 'Verna Myers'
• GENERATION Z

  • Prefers to work in industries that they interact with in their personal lives opposed to industries they aren't frequent consumers of
  • Desires autonomy and work-life balance
  • Prefers individual tasks over team-based activities however they will value physical connection. They prefer independence but not isolation
  • Will prioritize financial security over "personal fulfillment"
  • Attachment to social media will affect how they interact and want to be perceived
  • Defines diversity along different lines than generations before them
• 3.1% Unemployment Rate in the Philippines (lowest since 2005)
• 50.5 Million Employed in the Philippines
• Employment in the Philippines by Sector

  • Industry: 18.3%
  • Agriculture: 24.2%
  • Services or Tertiary Sector: 57.4%
• Human resource management

  The effective use of human capital in an organization through the management of people-related activities
• Human resource management involves leadership, values, employment planning, recruiting and selecting employees, training and compensating them, and evaluating their performance
• Human resource management significantly influences the corporate culture and norms
• Basic 5Ms of Human Resource Management

  • Mobilizing
  • Motivating
  • Mentoring
  • Measuring
  • Mixing & Matching
• Basic 8Rs of Human Resource Management

  • Recruiting
  • Routing
  • Retaining
  • Resonating
  • Recycling
  • Retooling
  • Reviewing
  • Rewarding
• Mobilizing

  • HR as an Administrative Expert
  • Linking HRM systems with administrative policies
  • Designs and administers HR systems, policies, and procedures to manage the organization
  • Asks the questions: What is to be done? How will it be done? Who will do it?
• Recruitment

  • Provides more options and more choices for requesting units
  • A competency-based screening process, together with a compensation and benefits system that aligns all comparable positions in the organization, will support this
• Job Description

  • Duties and responsibilities of the potential employee, including the scope, limitations, and terms and conditions of employment
• Compensation and Benefits Range

  • Details the potential salary and benefits that the employee will get
• Employee Qualification

  • Educational Background
  • Work Experience
  • Specific Skill or Knowledge
  • Work Attitude
• Routing

  • Presumes a company's assurance of opportunities for growth and an individual's commitment to do a job excellently
  • Provides the proper assignment and appropriate opportunities for new and existing employees of the organization
• Motivating

  • HR as Employee Champion
  • Motivating people in organizations, increasing employees' productivity and contribution to the organization
  • Empowering and energizing people to create a conducive work environment and elicit "best practices"
  • Deals with: Pleasure and Pain, Preference or Abhorrence, Aspiration or Deprivation
• Retaining

  Ensures that present employees are made effective, their potentials are identified and realized, and they must be developed into new and different conduits of enterprise development
• Resonating

  Does two things: (1) preventive care or monitoring of the organizational climate, and (2) echoing the values, beliefs, and best practices of the organization
• Mentoring

  • HR as Change Agent for Continuous Transformation
  • Creating corporate culture to attain vision, mission, and objectives
  • Strategic change management and the transformation of people to meet challenges
  • Deals with: Teaching, Coaching, Advising
• Recycling

  • A well-designed trigger and alert system able to detect early signs of indifference or non-conformity is essential
  • Provides flexibility to the organization by redeploying or reassigning employees to other positions to enhance meaning and challenge in the workplace
• Retooling

  • The Company's commitment to maximize the potential of its people and provide them the required knowledge, skills, competencies, attitudes, and values to attain those potentials
  • Bridges the "gaps" in competencies (knowledge, skills, and attitude) of new and existing employees
• Measuring

  • HR as Strategic Partner in Strategy Execution
  • Human resource strategy aligned with business strategy
  • Strategic development to execute and achieve desired goals
  • Deals with: Potential, Participation, Performance
• Reviewing

  • Finds innovative ways to measure the contributions from employee performance including exemplary work achieved beyond the call of their present assignments
  • The Company must continually find innovative ways to value contribution and results. It must be in constant search for creative means to measure human capital and knowledge resources
• Rewarding

  • If a company is to obtain the needed contributions, it must reward those who make them
  • An attractive incentives, compensation, and recognition plan will increase the significance and value of this
• Mixing and Matching

  In order to accomplish their assigned roles, teams must have the proper mix of individuals. The correct mix will depend on the required team outputs and outcomes
• LESSON 2: OPERATIONS MANAGEMENT
• Operations Management

  • Methods, Manpower, Machines
  • Operations plan is a plan that contains the specific details of a business operation, including production or manufacturing, inventory, and distribution, to name a few
  • Operations management is about delivering products and services to customers, to meet or surpass their expectations. It is about creating a system
• Methods

  • Manufacturing of a physical product
  • Rendering of services
  • Inventory management
  • Product Distribution
• Manufacturing Elements

  • Inputs are the ingredients or materials needed to manufacture a product
  • Process is the manufacturing or converting of inputs
  • Output is the result of a processed or manufactured input
• Enterprise Delivery System (EDS)

  • Input: right quantity and quality
  • Throughputs: transformation process
  • Outputs: right quantity, quality, costs, and time; product/s and service/s
  • Outcomes: desired end results; quality, delivery, price (QDP)
• Marketing vs. Operations

  • Marketing is a promise to your customers
  • Operations is the fulfillment of your promise/s to your customer's desired product, price, and place
• Expectation and Perception

  • Expectation of the customer is greatly influenced by the promises made by the marketing strategy of the firm and the information disseminated by the competitors to the marketplace
  • Perception of the customer is greatly influenced by what and how the product/service is delivered/rendered
• The Four Equations

  • Expectation = Perception
  • Expectation > Perception
  • Expectation < Perception
  • Perception >> Expectation