Management Practices and Corporate Entrepreneurship

Question: Discuss about the Management Practices and Corporate Entrepreneurship. Answer: Introduction The Australian Human Resource Institute has been representing the professionals of the people management. Almost 20,000 Australian members are associated with the institute to provide the enriched knowledge about the methods developing the career, advancing the HR professions, and supporting the HR professionals (Ahri.com.au 2017). The institute maintains the standardized certification for providing fruitful training and education services to Australian members that help in developing the business skills. This institute belong to the World Federation of People Management and Asia Pacific Federation of Human Resource. This AHRI model of excellence is a graphical representation that sum up the knowledge of the HR practitioners and their expectations accordingly. This is viewed as per the expectations of the peer in context of the capabilities and the behavior of the employees (De Brito and De Oliveira 2016). There are many of the competencies of this excellence model that are as: business driven, a strategic architect, an expert practitioner, an ethical and credible activist, a workforce and workplace designer, a cultural and a change leader and the stake holder and mentor coach. The study will provide the insightful knowledge about the business driven that have the significant impact on the business skill development. The study will also provide the discussion on ethical and credible activism by formulating strategic architect. Business driven The concept of business driven is such a competitive advantage that includes the innovation, quality management and cost engineering (Omer and Ahmed 2016). This is such an advantage that is responsible for having such human resources that actually contributes to the management and proves to be the key driver that is responsible for success in an organization. This is entailed by the capability of business driven by adopting the strategic competencies. The importance of human resource management to have this capability of being business driven can be explained as below: Beneficial in understanding the business, this is an essential function of the HR in an organization to understand the business. In other way, HR needs some of resources which are helpful in understanding the business. The potential for the HR to engage with the training and development is also provided when the company needs to update the skills and other competencies of the employees on an organization. The human resource management has to take the responsibility of deciding this initiative formulation process. (Hassan 2016). Engaging with the business: this is another major function which is responsible for managing the human resources to have the capability of being business driven. The organization should take the help of some experts who help in running the business by with some of the new ideas and innovation. Let us say, the assumption of HR graduate and dealing in the organization, such capability of being business driven are possessed by me. I am able to understand the business functions effectively by way of having a formal mechanism to completely engage into the business. I prefer for opting such ideas or strategies that are out of the box, rather than having the traditional approach to perform the role of the HR position in an organization effectively. Ethical and credible activism The ethical and the credible activism is the capability, this is responsible for focusing upon the work with taking the relevant actions along with the desired results. In other words, the HR must undergo the function of traditional and the transactional work effectively and without any flaw (Adewale and Anthonia 2013). The outcomes of these activities have a direct impact upon the performance of HR and other function such as marketing, sales and the production. The function of credible activism entails these capabilities. The importance for a human resource management to have this capability can be explained as below: Adopting the capabilities of credible activist should support the manager. This includes the situation that shall lead to fulfill the basic concepts such as inventory controlling, production scheduling, account receivable along with the basic of income statement and the balance sheet. This mechanism can help in influencing others; this is done by having same view in this context. Such situation is beneficial and important to both the parties (Qehaja and Kutllovci 2015). Assumption: I have applied as a HR position; I have such capabilities that are required by the HR to be a credible activist. This includes having a strong ethical system and internal value that helps the organization. Otherwise, this could lead the people towards acquiring fraudulent and corruptive behaviour. Such temptations degrade the performance standard and hence lead to deprived decisions that shall affect everyone. Strategic architect This is the capability that entails the mechanism that involves the business partners who align themselves with the HR function to form the effective business strategies. The human resource architect helps in defining the company with respect of the situations that are changing the market, socially and the economically (Muiswinkel 2013). Moreover, the ability to recognize the global and the local ongoing trends in the market that has an impact upon the business and hence respond accordingly. The importance of the human resource management to have these capabilities of strategic architect is as follows: It helps in defining the desired outcomes that are most valued by the CEOs of the organization along with the line managers. This is also important because it helps in measuring and communicating the values that is created by the HR activities (Ibrahim and Zulkafli 2016). It masters the basic decisions related to finance and other decision of the human resource department that influence the financial position of the company. Assumption: As a graduate HR, I possess some HR capabilities and it signifies that I am prompt in doing rather than talking about the business allies and strategic architect. As this requires the HR personnel to step and think out of the box and take decisions according to the experiences they have had. This in result helps in increasing the financial literacy and business both. The correct financial decisions shall help with the correct decision-making (Albrecht et al. 2015). However, the qualitative arguments shall only be credible when the understanding upon the quantitative side of the business. These are the assumption of the capabilities that shall be possessed by the HR personnel. References Adewale, O. and Anthonia, A., 2013. Impact of Organizational Culture on Human Resource Practices: A Study of Selected Nigerian Private Universities. Journal of Competitiveness, 5(4), pp.115-133. URL: https://www.cjournal.cz/files/154.pdf Ahri.com.au, 2017. About Us. [online] Ahri.com.au. Available at: https://www.ahri.com.au/about-us [Accessed 27 Mar. 2017]. URL: https://www.ahri.com.au/about-us Albrecht, S., Bakker, A., Gruman, J., Macey, W. and Saks, A., 2015. Employee engagement, human resource management practices and competitive advantage: An integrated approach. Journal of Organizational Effectiveness: People and Performance, 2(1), pp.7-35. URL: https://www.beanmanaged.com/doc/pdf/arnoldbakker/articles/articles_arnold_bakker_380.pdf De Brito, R. and De Oliveira, L., 2016. The Relationship Between Human Resource Management and Organizational Performance. Brazilian Business Review, 13(3), pp.90-110. URL: https://www.redalyc.org/pdf/1230/123045332005.pdf Hassan, S., 2016. Impact of HRM Practices on Employees Performance. International Journal of Academic Research in Accounting, Finance and Management Sciences, 6(1), pp.15-22. URL: https://hrmars.com/hrmars_papers/Article_03_Impact_of_HRM_Practices_on_Employees_Performance.pdf Ibrahim, H. and Zulkafli, A., 2016. Corporate governance, HRM practices and organizational performance. Socio-Economic Problems and the State, pp.1-11. URL: https://sepd.tntu.edu.ua/images/stories/pdf/2016/16hiiaop.pdf Muiswinkel, W., 2013. Human Resources Management and Training: Compilation of good practices in statistical offices. Compilation of good practices in statistical offices, 30(3), pp.11-23. URL: https://www.unece.org/fileadmin/DAM/stats/publications/HRMT_w_cover_resized.pdf Omer, N. and Ahmed, A., 2016. Human Resource Management Practices and Corporate Entrepreneurship: the Mediating Role of Organisational Commitment. International Business Management, 10(9), pp.1632-1638. URL: https://docsdrive.com/pdfs/medwelljournals/ibm/2016/1632-1638.pdf Qehaja, A. and Kutllovci, E., 2015. The Role of Human Resources in gaining Competitive Advantage. Journal of Human Resource Management, 17(59), p.47. URL: https://www.jhrm.eu/wp-content/uploads/2015/03/JournalOfHumanResourceMng2015vol18issue2-pages-47-61.pdf