An evaluation of the contribution made by human resource activities to the attainment of business and financial objective
“The improved knowledge of the general functions of the HR together with the excellent knowledge of the role of the HR in the selected company and the proper connection with an effective achievement of the different financial and business objectives under the guidance of a highly qualified mentor are the keys for successful passing of the RAP”
Topic 13 is related to the evaluation of the role of the different Human Resources (HR) activities in the achievement of the general business and financial objectives in a specific company.
The HR activities are the activities that are directly or indirectly related to the employees of a company. These activities range from HR planning, recruitment, orientation, training, employee benefits, retention and retirement of employees. Actually, the HR activities are the activities that are related to the specific employees of the company from their joining to their retirement. We can easily understand that the HR function is extremely important to any company for its long-term sustainability and achieving the strategic goals and objectives of the company.
Under topic 13, the student will have to have a basic knowledge of the HR functions in the company and fundamental knowledge on the specific role of the HR in the company selected for their RAP. First, the student will need to analytically evaluate the activities of HR in the selected company that can only be reached via the primary sources of information. The excellent knowledge on the HR activities in the selected company is very important for passing of the RAP under this topic. Together with the excellent knowledge of all the HR activities, the student will have to have various information on the business and financial objective of the selected company. These objectives can be in both quantitative and qualitative terms. On the general understanding of the different HR functions, the student will have to estimate the contribution of these functions to the achievement of the business and financial objectives by providing very specific information. The student will need to focus on the achievements of the selected organization through the effective application of the HR functions, how the HR functions contributed to the maximization of the profits along with minimization of the expenses and how the HR activities have helped the organization in achieving the different qualitative aspects in an effective manner (as the qualitative aspects vary from one company to the other).
A very important aspect for the completion of this topic is the requirement for adequate linkage of the different HR activities with the general financial and business objectives and this is only possible by obtaining proper information about the selected company.
- An adequate explanation of the general concept of the HR activities in a general term and in a term specific to the selected company;
- Give an appropriate explanation of the general concept of the business and financial objectives in a general term and in a term specific to the selected company;
- Assess the impact the different HR activities have on the achievement of the set business and financial objectives;
- Give a quantitative and qualitative analysis to properly support the mentioned aspects; and
- Provide properly balanced explanations and analysis of the different aspects of the contribution made by the Human Resource activities in the achievement of the prescribed business and financial objectives.
Key Factors for Success
- Basic knowledge of the function of HR will enable the student to better conduct their research;
- Fundamental knowledge of the function of HR in the selected company enables the student to prepare a more detailed RAP;
- Fundamental knowledge of the different business and financial objectives of the company helps the student relate the topic requirements with the results of their research;
- Correct correlation between the different HR activities with the general business and financial objective of the selected company ensures preparation of a good-quality RAP under this topic;
- The adequate application of the prescribed goals and objectives that were set at the beginning of the RAP in their appropriate sections of the RAP proves that the student has understood the topic requirements;
- The appropriate answers to the research questions that were set at the beginning of the RAP in the appropriate sections of the RAP proves that the student understands the work and the RAP requirements;
- The utilization of good research methodology to get good results on the prescribed goals and objectives that were set at the beginning of the RAP;
- The keeping a logical flow of the discussion by having in mind all the requirements of the topic points that the student has the necessary knowledge on this topic; and
- Give a logical conclusion of the work process at the end of the Research Report by having all the requirements of the topic in consideration.
Major benefits of choosing this topic
- Application of the theoretical knowledge the student has acquired in a practical situation; and
- The different techniques and skills learned while preparing this topic will be of great help in the professional life of the student.
Major possible limitations faced by the student under this topic
- The management of the selected company may ignore the student and may not provide them with the necessary information due to factors like confidentiality issues, business secrets or unavailability of the authorized personnel;
- The student may not find good information from reliable secondary sources due to improper research approach and may be able to have good ideas for improvement of the project;
- The student may get confused by the possible differences between the information provided from the primary sources in a verbal or documented form and the results found during the student’s research work.
Suitable organisation under this topic
Good organization where the student can prepare a RAP in Topic 13 is a company where the student has access to the management of the company. But, the management needs to be willing to give the student all the necessary information for the proper completion of Topic 13. It is very important for the student to select a good company for which they have adequate understanding of the general operations a good understanding of the sector where the selected company operates. Based on their knowledge of the selected company and sector, the student should connect the necessary aspects of operation with the requirements of the topic and prepare a high-quality RAP.
The student will have to follow the next points when selecting a company for their RAP under Topic 13:
- The personal interest of the student in the general business of the company that will help them to be more involved in the research works and enjoy the overall process;
- The access to primary sources of information is especially important for Topic 13;
- The access to reliable secondary sources of information will help the student confirm different facts about the selected company;
- Understanding the general operations of the selected company is especially important for Topic 13;
- Knowledge of the sector associated with the organization helps the student conduct better research;
- The contact with important officials from the selected company is especially important for topic 13; and
- A general idea of the requirements of the selected topic and their application on the proposed company at the beginning of the RAP enables a better preparation of the whole project.
Suggested approach for this topic
If the student chooses Topic 13 for their RAP then they must put a proper plan in place from the beginning of the project and they will be able to carry out all the necessary tasks. The good understanding of the major requirements of this topic and the analytical evaluation of the necessary aspects of this topic is important, and is done by establishing a detailed strategy. The necessary processes of action that the student needs to follow order to meet all the necessary requirements have to be evaluated, something that is possible by a thorough planning at the start of the RAP.
A table of contents of the RAP under Topic 13 needs to be set in place. It has to flow in a logical manner and cover all the tasks that the student needs to perform. A logical table of contents will help the student in staying on the right path from the start of the project. The student can also determine the necessary time for completing the various tasks needed for a proper completion of the RAP.
The next step after completing the table of contents for the RAP under Topic 13, is the gathering of the information required as per the requirements of Topic 13. The student needs to analyze and evaluate all the gathered information with consultation with their Project Mentor. The comments by the Project Mentor are essential for the proper completion of the RAP. The student will have to regularly tell their opinions to their Project Mentor so they can get the proper guidance.
As there is no uniquely guaranteed approach for preparing the RAP under Topic 13, a broad level approach is described here. Any specific approach is a student’s choice and depends on the available information on the selected company. The student will need to continue to get guidance from their Project Mentor at every step of the way, no matter the selected approach. This is very important for meeting the prescribed information of Topic 13 and passing the RAP with get good grades.
Availability of Information
The RAP will need to be complete based on the information provided from the management of the selected company – the primary sources of information, along with the different relevant secondary sources of information like online sources, newspapers, journals, books, archives, etc. The availability of information from the primary source is of great importance for Topic 13, as it can’t be completed without obtaining some specific information on the selected company. The student has to ensure the access to this information from the management of the selected company and confirm that there are no confidentiality clauses or business secrets related to this information.
Topic 13 needs to be carefully considered as a topic for the RAP because the requirements of Topic 13 are fulfilled only if the student gets access to enough relevant information on the selected company. If there are doubts in procurement of the necessary information while preparing the research for the RAP, a different topic should be selected because the use of inadequate information only leads to low-quality RAP and low grades.
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