Talent Management Strategy Research Paper Example | Topics and Well Written Essays - 1750 words

Talent Management Strategy - Research Paper Example This paper will therefore analyse a talent management strategy that links an organization’s goals to talent management strategy in order to gain a competitive edge over rival organisations. The first step in coming up with a talent management strategy is to access the business environment and come up with the important issues that affect the performance of a business both in the long run and in the short run. Strategic context of talent management First, is the visionary aspect of the organisation where it will be concerned with trend spotting; here an organisation scans the environment it is operating in to identify the trends in social, economical and technological activity. In visionary aspect, a company will weigh its effectiveness in translating academic and technical research to business ideas that will give it a competitive edge over its rivals. The explorer aspect of the business involves identifying products for potential growth and markets that are unexploited, in ad dition, the organisation identifies other organisations with which it can collaborate with in order to increase the volume of its business. The third aspect that organisations can capitalise on is the builder aspect; this involves managing customers’ feedback and determining their preferences. In addition, it will entail developing the products of the organization and adopting the appropriate pricing and advertising mechanisms, the distribution mix, which ensures maximum customer satisfaction, will be evaluated. The lobbyist aspect will involve maintaining a good corporate image with the key stakeholders, presenting the organisations interests within the political environment and lobbying for favourable operating conditions with the regulating bodies. The architect aspect involves recognising technological developments that can be relevant in operations of the organisation, implementing those developments to ensure improved processes and systems. In addition, it oversees plan ning and implementing of major changes in the organisation structure and practise (Dejoux & The?venet, 2011). Trouble shooter aspect will involve measuring of the corporate activity to be able to identify problems, refocus of an organisations operations for them to be in line with its core aim and tackling problem with high cost operations that have low value hence increasing the productivity of the organisation. The regulator aspect will ensure development of relevant indicators that will be used to monitor and control business activity within the organization, in addition, it ensures the development of standard procedures of operation in order to improve process efficiency and standardisation, establishing financial discipline throughout the organisations activities will also be a part of the regulator aspect. The integrator aspect will ensure the continuous process of improving the employees’ capabilities, it will also be responsible for the continuation and upholding of t he business values and ethics. In addition, integrator aspect is responsible for sharing of information, resources and knowledge throughout the organisation. Key components of talent management For an organisation to capitalise on the above aspects, it will require that talent within its employees or externally be identified, the process of identification of talent will be done

Economics is, essentially the science of decision making. Do you agree Essay

Economics is, essentially the science of decision making. Do you agree or disagree Please explain and support your position - Essay Example The following discussion strengthens the hypothesis that economics is essentially the science of decision-making. Economics helps people to understand the production process, how goods and services can be exchanged, and the different consumption patterns in an economic system. In this case, economics plays a crucial role of helping individuals, and organizations to identify the goods and services that they can produce in the most profitable manner. It also enlightens them on the best markets to exchange their commodities, thus maximizing their returns. In relation to consumption, economics provides consumers with the ability to differentiate the consumption patterns that can make them live a stable life as opposed to consumption patterns that may impose strains on their lives. Therefore, economics plays a major role in the decision making process as it dictates what to do at given periods through provision of analytical data. The government also utilizes economic concepts when dealing with issues related to public finance and the concepts allow the government to set certain prices in the nation, and determine the spending of the government. Economics also contribute significantly to setting prices as it deals with the forces of demand and supply. Therefore, economics aids in the decision making process as it allows different entities to fix prices based on several considerations, that involves statistical relationships. Given that we live in a world of scarce resources, people strive to find ways that can help them utilize such resources in an efficient manner. Economics, which aims at studying human behavior as a relationship between ends and scarce means that have alternative uses teaches individuals to cope. It helps individuals to make good use of scarce resources, thus increasing their wealth, and welfare. This emanates from the fact that economics increases the ability of individuals to make wise