DP2 The Battle of the Best DP2 004-11-09-17
DP 004-11-09-17
2.1 Functions and evolution of human resource management
Dear Students - please answer questions (a) and (b) of the The Battle for the Best case study. (Taken from IB Training Booklet Using The OCC Resources).
Deadline 12-09-17.
(a) Reputation, name recognition, and intellectual property such as knowledge and know how. Intangible assets are the long-term resources of an entity, but have no physical existence. They derive their value from intellectual or legal rights, and from the value they add to the other assets. Intangible assets are generally classified into two broad categories: (1) Limited-life intangible assets, such as patents, copyrights, and goodwill, and (2) Unlimited-life intangible assets, such as trademarks. In contrast to tangible assets, intangible assets cannot be destroyed by fire, hurricane, or other accidents or disasters and can help build back destroyed tangible assets
Source: http://www.businessdictionary.com/definition/intangible-asset.html
(b) Management may adapt in different ways. It has to deal with ageing population and flexible work structures (which are patterns). The most clear and straight-forward is to retain qualified workers that make the core staff. That means that companies should combine two working practices into one - retention of core staff and flexitime. They will have to consider organizational restructing to keep the best employees within the business (core staff) and offer them first-rate financial rewards. Soon-to-retire employees who might not be interested in staying with the company, can be offered to work from home on a flexible schedule.
Businesses can also take advantage of social changes, such as single parents, or women interested in earning income to sustaing their families, by homeworking on flexitime.
In both cases, management retains the highly skilled workers, while supporting the business with peripheral workers. On the other hand, keeping high skill workers might be expensive. However, companies should calculate to off-set the cost of the former (core staff) with the savings generated from the latter (non-core staff).
2.1 Functions and evolution of human resource management
Dear Students - please answer questions (a) and (b) of the The Battle for the Best case study. (Taken from IB Training Booklet Using The OCC Resources).
Deadline 12-09-17.
(a) Reputation, name recognition, and intellectual property such as knowledge and know how. Intangible assets are the long-term resources of an entity, but have no physical existence. They derive their value from intellectual or legal rights, and from the value they add to the other assets. Intangible assets are generally classified into two broad categories: (1) Limited-life intangible assets, such as patents, copyrights, and goodwill, and (2) Unlimited-life intangible assets, such as trademarks. In contrast to tangible assets, intangible assets cannot be destroyed by fire, hurricane, or other accidents or disasters and can help build back destroyed tangible assets
Source: http://www.businessdictionary.com/definition/intangible-asset.html
(b) Management may adapt in different ways. It has to deal with ageing population and flexible work structures (which are patterns). The most clear and straight-forward is to retain qualified workers that make the core staff. That means that companies should combine two working practices into one - retention of core staff and flexitime. They will have to consider organizational restructing to keep the best employees within the business (core staff) and offer them first-rate financial rewards. Soon-to-retire employees who might not be interested in staying with the company, can be offered to work from home on a flexible schedule.
Businesses can also take advantage of social changes, such as single parents, or women interested in earning income to sustaing their families, by homeworking on flexitime.
In both cases, management retains the highly skilled workers, while supporting the business with peripheral workers. On the other hand, keeping high skill workers might be expensive. However, companies should calculate to off-set the cost of the former (core staff) with the savings generated from the latter (non-core staff).
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