Photo AI
Jackson Incorporated is currently trying to determine new wages and conditions of work for its employees - VCE - SSCE Business Management - Question 5 - 2017 - Paper 1
Question 5
Jackson Incorporated is currently trying to determine new wages and conditions of work for its employees. Some of the employees are worried that their expectations w... show full transcript
Worked Solution & Example Answer:Jackson Incorporated is currently trying to determine new wages and conditions of work for its employees - VCE - SSCE Business Management - Question 5 - 2017 - Paper 1
Step 1
Human Resource Managers
Answer
Human Resource Managers are responsible for managing the overall relationship between the business and its employees. They act as intermediaries who facilitate communication and negotiation between the management and the employees.
In this context, Human Resource Managers will first assess the employees' concerns regarding wages and working conditions. They must ensure that employee expectations are understood and communicated effectively to management. This involves gathering feedback from employees through surveys or discussions and synthesizing that information to present to the leadership team.
Additionally, they play a key role in designing appropriate wage structures and ensuring compliance with legal standards. Human Resource Managers also initiate the negotiation process, providing a platform for discussions and seeking to align employee expectations with organizational capabilities.
Furthermore, they are instrumental in the implementation of new wage policies and ensuring that employees feel valued. This could involve transparent communication about how wages are determined, the rationale behind any wage disparities, and the benefits of the proposed changes. Ensuring fair treatment and adherence to ethical standards throughout this process helps build trust within the workforce.
Step 2
Identify one of the key approaches to strategic management from Porter’s Generic Strategies.
Answer
From Porter’s Generic Strategies, one notable approach is the Differentiation Strategy. This strategy focuses on offering unique products or services that provide added value to customers, allowing a business to stand out in the market.
In relation to Shandra’s Dairy Ltd, they could apply this approach by developing specialty dairy products that cater to niche markets. For instance, Shandra’s could create gourmet flavored yogurts or organic cheese that differentiate them from competitors. By emphasizing quality, unique flavors, and sustainability, they can attract customers who are willing to pay a premium for these unique offerings.
Furthermore, marketing efforts can highlight the unique attributes of these products, setting Shandra’s Dairy apart from other local dairy businesses. This strategy not only helps to build brand loyalty but also allows the business to command higher prices due to its distinctive market position.