BSBMGT616 TMC Pty Ltd Analysis Assignment Sample

• Subject Code : BSBMGT616
• University : Victoria University My Assignment Services is not sponsored or endorsed by this college or university.
• Subject Name : Management

Develop And Implement Strategic Plans

Introduction to Develop And Implement Strategic Plans

The aim of the report is to evaluate the currency of the organizational vision and mission of TMC Pty Ltd. TMC Pty. Ltd. is a well-known Australian Marketing company that has its offices in Melbourne and Sydney. The company has several teams who have super talented marketing, design, creative, digital and media experts. It has two main branches in Melbourne and Sydney and over 100 mentors and 250 support staff.

Mission/ Vision Review

Mission statement: To engage in best practice human resource management that enables organization excellence.

Vision: To be a model of best practice human resource management in Australia by achieving consultation and communication with clients.

Environmental Analysis

Internal Environment: Human Resources is a centralized function that operates within a complex and dynamic framework where a range of external challenges intersect with our unique organizational culture (Armstrong and Taylor 2020). The Human Resources Division at the organization, unlike most other organizations, incorporates a full suite of HR functions. The company has smart digital team and marketing team to provide creative solutions and results. Some of the weakness of the company including lack of support from the executive leadership, improper budget allocation to the HR department, lack of transparency, ineffective conflict resolution strategies in place, poor change management and delayed communication.

External Environment: The Company faces significant challenges in maintaining high-level productivity in an ageing workforce and ensuring that the organization is successful in recruiting and retaining high-quality staff. The company is facing barriers in women’s advancement and is unable to encourage diversity in its staff and learner population.The organization operates within a complex legal and HR framework that affects the legislation related to day to day human resource management.

Organizational Values

The company strongly believes in the principles that integrating a diverse and culturally competent workforce enables businesses to uphold their corporate social responsibility and increase profitability. The aim of the company is to increase awareness of cultural competence and diversity in the workplace.

Stakeholder Consultation

Consulting the stakeholders it was found that the business in Melbourne has experienced a 10 per cent growth in the last 6 months and it is expected that the business will grow up to 20 per cent in next three months. For this, the human resource management is needed to be implemented effectively as two directors of the Melbourne branch are having ongoing conflicts along with problems related to staff performance. To increase the business and improve the growth of the business, the company have to develop a strong workforce rather than reaching to large number of clients (Bratton and Gold 2017). Moreover, the budget is not properly distributed. Moreover, the Sydney branch has also received a notice from the Ombudsman to be discriminatory against its female staff members. It is required to be resolved as soon as possible through effective HRM.

Current and Potential Changes to Industrial/legal Requirements

The current potential changes need in the company is proper implementation of strategies to resolve issues related to Human resource planning and management. The budget allocation of HR is needed to be revised so that it can be implemented properly in both the branches of TMC Company. Improvement in the organization structure and introduction of new HR policies is done for better functioning of the company.

Revised Vision and Mission

Mission: The mission of the company is to increase awareness of cultural competence and diversity in the workplace along with introduction of new HR policies so that the internal conflicts between the directors of the company can be resolved along with the performance issues of the staff. Implementing strategic HRM will lead to better working environment and will help the company to achieve higher growth in future in both the branches of TMC Company. The mission also include redefined the budget allocation of HR department along with implementation of better management and communication within the company.

Vision: The vision of the company is to become one of the best Marketing Company in Australia with the help of best human resource management within the company. Becoming a model and inspiration for marketing companies located in Australia in terms of best management system with highest satisfaction rate of employees. Benchmarking our services nationally to foster continuous improvement.

Conclusion on Develop And Implement Strategic Plans

It can be concluded that the report has briefly evaluated the currency of the organizational vision and mission of TMC Pty Ltd. The report has identified and discussed the internal and external factors that influence the working of the organization. It was found that the TMC company has a poor human resource management due to which the company is facing a large number of problems. Moreover, revised vision and mission is provided in the report along with the changes that are required for better working of the organization.

References for Develop And Implement Strategic Plans

Armstrong, M. and Taylor, S. 2020. Armstrong's handbook of human resource management practice. Kogan Page Publishers.

Bailey, C., Mankin, D., Kelliher, C. and Garavan, T. 2018. Strategic human resource management. London: Oxford University Press.

Bratton, J. and Gold, J. 2017. Human resource management: theory and practice. United States: Palgrave.

Chelladurai, P. and Kerwin, S. 2018. Human resource management in sport and recreation. Human Kinetics.

DeCenzo, D.A., Robbins, S.P. and Verhulst, S.L. 2016. Fundamentals of human resource management. New York: John Wiley & Sons.

Delery, J.E. and Roumpi, D. 2017. Strategic human resource management, human capital and competitive advantage: is the field going in circles?. Human Resource Management Journal, 27(1), pp.1-21.

Marchington, M., Kynighou, A., Wilkinson, A. and Donnelly, R. 2016. Human resource management at work. United States: Kogan Page Publishers. 

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