HRM article summary

Human resource management is the systematic process of acquiring, developing, rewarding and maintaining an organization's people resources so as to maximize performance. Organizations and companies' human resource requirements change constantly to create a better work place. Although many entrepreneurs realize that people is the key to a successful business, they still struggle to develop an effective human resource function. The article focuses on describing the human resource management challenges facing entrepreneurial organizations and to identify lessons that can be learned from successful entrepreneurial organizations in creating their HR management.

Interviews were conducted with the founders and/or presidents of over 50 high performance US manufacturing and service entrepreneurial organizations. They were asked the question:"as an entrepreneur, what are the greatest challenges you face in the human resource management area?" The president of Cube Culture Corp., Greg Papp, answered the question by saying "most entrepreneurial organizations are successful because of the efforts and sacrifices of the people working there. It is critical to get the right people on board and to successfully embed them in the culture of the organization, which is no easy task and requires time, effort and energy."

Entrepreneurs in this study identified four overarching demands that their HR functions must meet for them to create and maintain success: 1) Hiring quality people, 2) Generating immediate performance and productivity, 3) Maintaining flexibility an 4) Overall HR cost containment. The article discussed challenges that were facing each of the above headings and carried out valuable lessons.

HR Challenge #1: Attracting a large pool of high quality job candidates
HR Challenge #2: Speed in the hiring process
HR Challenge #3: Taking time to properly orient and train personnel
HR Challenge #4: Properly coaching and providing feedback for new hires
HR Challenge #5: Developing workforce/management talent
HR Challenge #6: Clearly defining job responsibilities
HR Challenge #7 Demonstrating commitment to your workforce
HR Challenge #8: Fairness in salary and rewards
HR Challenge #9: Attractive wages and benefits
HR Challenge #10: Appropriate/effective HR administrative structure

Each of the challenges above came with a lesson that was learned from the studies which would benefit businesses/organizations greatly.

Lucy Liu
Linda Zheng
Nina Wong
Kevin Do
Sunny Brar

Young entrepreneur newspaper article reflection

UBC graduate, Brian Wong who is only 19 years old is already on his way to start up his second company called Kiip. He has received 4 million dollars in financing to fuel a new ad model that gives mobile game players real rewards ranging from vitamin drinks to a $100 Sony tablet. This is offered to players who reach milestones in games on their smartphones and other mobile devices. This business idea is only offered to players in the United States but soon after, he promised it will be moved into Canada.

I am astonished that Brian Wong at 19 year old is making such a big accomplishment in his life. A 19 year old graduating from University already is a great shocker. His idea would probably widely attract customers because people play games on either their iphones or blackberries daily. If they were already to play so many mobile games, they might as well give the games that Brian Wong offers prizes for a try. Mobile devices/smartphones are so common now that people would catch on the trend very quickly.

I think Brian Wong succeeded at such a young age in the field of technology has a great reason to do with the generation that he was raised in. For our generation, we have access to all the technology that other people never had before from generations before. At his age, he combined his own personal ideas and untilized it properly into something that can make big money. Mark Zuckerberg at a very young age as well, created Facebook, something everyone possesses nowadays.

Hidden Costs Can Kill Your Web Business reflection

What is an e-business?

E-business is a term used to describe businesses run on the Internet, or utilizing Internet technologies to improve the productivity or profitability of a business. In a more general sense, the term may be used to describe any form of electronic business —- that is to say, any business which utilizes a computer.

Advantages of e-business

Utilizing Ebusiness to operate your company enables you to many advantages. Such as purchases can be made 24 hours a day and 7 days a week, making it available to every place in the world, at any time; improved of speed response, improved communications, information and knowledge sharing; and improved customer service.

Disadvantages of e-business

Even though there are many advantages to Ebusiness, there are also many disadvantages that come along with it. Such as you may not recieve what you believe you have purchased; and things such as viruses could mean losing the site or affecting your customers computers while on your website.


Source:
http://www.wisegeek.com/what-is-ebusiness.htm
http://www.cheshirehenbury.com/ebusiness/ebbenefits.html
http://wiki.answers.com/Q/What_are_the_advantages_and_disadvantages_of_e-business