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Business Management Assignment 

Executive Summary for Sim's Hardware Case Study 

Sim’s Hardware is an Australian company which deals with the hardware products is one of the largest retailers in Australia. The main focus of this company is to deal with home improvement items. We have to discuss in this report the partnership plans and its implications regarding the policies and procedures, legal requirements and so on. Also the implications and the positive culture, resolving of conflict, organizing and allocating the work activities and approaching staff to empower them are to be considered.

Contents

Introduction of the organization.

Partnership program plan.

Policies and procedures-

Legal requirements in the plan-

Type of Public/ private partnership.

Partnership agreement:

A media campaign advertising the new joint venture.

Positive Collaborative.

(a) Process that contributes to a positive culture:

(b) Process placed to resolve conflict:

(c) Plan to organize and allocate work activities:

(d) Methods to encourage staff to undertake personal competence:

(e) Approaches to empowering staff to undertake personal competence:

(f) Indicator and process feedback for work environment:

Conclusion.

References.

Introduction to Sim's Hardware

An Australian company named as Sim’s hardware is one of the largest retailer of hardware in Australia. The products in which this company mainly deals are the hardware such as paints, house wares, outdoor, garden, tools etc. It has 138 stores all over Australia with having around 10000 employees. In not only deals in certain products but it has a large variety of products that focuses on the improvement of home at minimum competitive prices.

This organization was started in 1921with one store in George St Sydney and has been taken a major growth from then now since. Its major focus or we can say that the goal of this organization is to be innovative by providing Flexibility to workers, paid leaves, employee friendly environment, use of resources properly, focusing on principles of waste management, encouraging and motivating employees to work according to the goals of the organization.

This organization is having a mission of providing the best quality hardware, home wares, tools, garden material etc at low cost with a good quality. Also it focuses on the responsibility of the environment, engagement with the society i.e. taking care of society etc. Also it has focuses on the risk management activities by providing appropriate systems; delegate the responsibilities to different level of workers so that the burden could not be on a single employee. Any changes made by the company are taken care of and disclosed to the members of the organization. So overall it deals with the people who are related to the organization, its assets, objectives, customers, reputation and the environment as a whole.

Partnership Program Plan

A partnership is an agreement between two or more persons to carry out the business as co- owners for the profit. A plan contains various policies and procedures, legal requirements, public or private partnership, requirements of resources and much more. Here we discuss some of them in detail. (Question: Sim's Hardware , 2019)

A. Policies and Procedures-

In a partnership plan, the policies and procedures must be in collaboration with both the firms. A single firm policy and procedures does not helpful in the partnership firm. So the policies and procedures required in the partnership firm might be:

  • Preserving the roles and responsibilities of an individual- This means that the individual who is working in the organization after partnership, in the merger organization the employee must have the similar responsibility as earlier in the form of welfare of an organization. The steps could be taken if the same has not been taken place or earlier it was not mentioned then.
  • Providing healthy working environment- The partnership firm must have a policy of providing the employees a healthy work environment so that the work done by them must be efficient and effective.
  • Policy of risk assessment- There must be a policy of risk assessment so that the risk incurred in the organization must be assessed in relation to that.

B. Legal Requirements in The Plan-

In the partnership agreement, certain legal requirements are there that has to be followed by entering into the agreement of partnership with the other company. These legal requirements are:

At the time of incorporation:

  • TAN card is essential
  • Bank account of the company is required.
  • Seal of the company is also required while incorporating a partnership firm.

At the time of registration:

  • If the company is under the regulations of GST, then the bill of GST is required.
  • Registration of professional tax is required.
  • Registration of other licenses is also required such as ESI registration, trading license registration, import/ export registration etc.

At the time of accounting process:

  • While accounting all the records maintained are necessary to look upon. These records might be:
  • Book keeping
  • Payroll processing
  • Returns of GST filing
  • Filing of Income tax return
  • TDS return on the basis of monthly and quarterly

At the time of legality:

  • First of all, the agreement between the vendors (the two companies that are merging) is mandatory.
  • Contract of employment to be signed by both the parties.
  • Agreement of consultant, if any must be reviewed.
  • Other contracts such as employee retention contract, products that needs to be maintained in the company contract etc.

C. Type of Public/ Private Partnership

There are several of public private partnerships such as BOT, BOO, BOOT, design- build, design- build- finance, DBFO, DBFM, DBMFO etc. But the type of public- private partnership in which the organization would like to engage in is Design- build public/ private partnership.

Design- build public private partnership shows that the partnership firm is basically a private firm in which it has full control over the manufacturing and regenerating of the products at a low cost. In this it can save time and money and also provides customers the guarantee for the product by their own. (PARTNERSHIP CONSULTING: AN IDEAL WAY TO BUILD YOUR CONSULTING PRACTICE, 2018)

Allocation of resource requirements:

The resources allocated in the partnership plan of hardware are paints, fasteners, building materials, hand tools, key, locks, chains, plumbing supplies, electrical supplies, house wares, tools and many more. And also in case of partnership the major requirement is for the good quality labor, major financial requirements, better environment and much more.

Results of the partnership program against the planned partnership outcomes are-

  • Hike in the profit of the organization as compare to the planned ones.
  • There is a negative impact on the employees because the partnership leads to terminate some of the employees working from the organization.
  • Accounting system helps in ascertaining the result related to the financial outcomes of the company.
  • Sales executives lead to the system sales changes.
  • Marketing people are as engaged in their work as the partnership enhances the work of the marketing.

4. Partnership Agreement:

A partnership agreement is a deal in two parties while merging their businesses in a single business. So the agreement needs to include every single detail that is required to establish a partnership firm. Whether that detail could be of the salary of an employee at certain post or which product the company should manufacture or buys from the market.

a. The outcomes that needs to be achieved by the partnership firm would be:

  • Profits earned by the partnership firm would be more as compare to the previous one, which were earned by individual firms.
  • Enhance the knowledge by gathering more work, wider scope and from the mistakes the learning ability would become better.
  • Effectiveness in the working of the people also the efficiency would increase because of wider knowledge by different workers.
  • Development of human resource could be achieved and long term stability in the market could be achieved.
  • Credibility and reputation of the two firms combined and increases from the earlier one.

b. Conducting an ongoing concern with the partner company by

  • Providing them the expertise that is with us and taking their level expertise from their clients.
  • Sharing the concern regarding the work performance and the learning ability and then asked for their advice for the same.
  • Engaging other professionals to assist them with their portfolio of work.

c. Communication solutions we will adopt to engage with the partner company are:

  • We will over communicate with the partner related to their products and services and other projects or collaborative ventures they are already dealing with.
  • We honestly providing the information that they wanted from us to know.
  • We meet the target provided to us regarding the work and also apologize for not meeting the same, if in case.
  • We communicate with them frequently if we don’t not have any talk related to business then also. This will leads to increase our knowledge and resources. This means that we always stay in touch with them. (Wernette)

5. A Media Campaign Advertising the New Joint Venture

Australian hardware company Sim’s hardware is to work together with XYZ ltd (assumed) on research of a technological product.

Sim’s hardware, the leading Australian hardware retailer company dealing with home improvement products and XYZ ltd, technology consultancy, updation and implementation company, will do joint research on next generation home improvement products which is more technologically prone and highly satisfying product for the ultimate consumer.

Top management of both the companies said they are also discussing for further long term and medium term collaborative projects.

Sim’s hardware opined that as a conclusion of the agreement it is planning to expand its market by diversifying into new and more competitive and innovative products and equally expecting of high demand.

The said agreement amounts to more requirements of fund which the company proposes to undertake by taking external commercial borrowings and issuance of debentures.

This agreement will going to be a most competitive deal and is having remarkable impact on the retail hardware economy. (shrestha, 2019)

6. Positive Collaborative

The positive collaborative relationship is the key for the success and survival of the business. It creates positive culture, positive motivation, positive contribution, positive coordination etc which collectively contributes to the achievements of the goals and vision of the organization. Following are the points that need to be highlighted for the establishment of positive collaborative relationship within the Sim’s Hardware:

(a) Process that contributes to a positive culture:

Positive culture in an organization could only be achieved when the employees are satisfied in the organization, the society requirements are fulfilled by the organization, quality of products to be maintained, friendly environment for the employees are to be taken care of, encouragement and motivation techniques to be followed. Also the products provided to the customers must be quality centered so that there would not be any mistaken feedback received from them. Also the working environment provided to the employees needs to be taken care of. There needs to be healthy relationships to be maintained amongst the workers of the organization. This whole process leads to a healthy and positive culture within an organization.

(b) Process placed to resolve conflict:

In order to resolve the conflict in an organization, a proper healthy environment must be provided to the employees.

  • Teams or groups must be created so that the work of a single person could be divided in the group and the burden would get distributed.
  • By creating positive and collaborative environment. This means that the environment created in the organization should be in the favor of employees, so that the morale would get increase of the employees and the environment would become positive and no conflict would takes place.
  • By recognizing the role of each and every person in the organization and making the decision which is favorable to all by taking the views and opinion of all the people working in the organization.
  • There should be balance between the organization policies and procedures in respect to the organizational achievement of goals and also would be favorable to the employees also.

(c) Plan to organize and allocate work activities:

There should be proper planning of all the work activities and assignments and it is to be organizing properly. Work activities are to be allocated according to the skills, qualification, and competence of the personnel. There should be proper assignment of authority and responsibility relationship. Each person is responsible for its work. Accountability is to be established. And also there should be equal allocation of the work according to the qualification and competence of the workers.

(d) Methods to encourage staff to undertake personal competence:

  • Financial and non- financial incentive- Motivation should be provided to the workers regarding the financial and non-financial terms such as by hiking up the salary so the workers could work effectively and efficiently in the organization or comparing with the colleagues to increase their morale non- financially.
  • Appraisal to be provided- Performance appraisal in the form of money and promotion. This means that on the basis of the performance of an employee, appraisal is needed to encourage for their work that has done by him.
  • Training methods to be adopted- To encourage staff to work according to the achievement of organizational goals and objectives, proper training is must. So various training techniques needs to be provided to the employees for the encouragement to work better in the organization. (Question: Sim's Hardware , 2019)

(e) Approaches to empowering staff to undertake personal competence:

  • Upbringing of the new ideas- Encouraging individual employees to come up with the new ideas and then recognizing them with the incentives.
  • Setting up of small goals- For the encouragement of the staff, small goals have to provide them instead of a single goal i.e. the organizational goals.
  • Maintaining the transparency- Transparency among the individual and the organization must be maintained so that the crystal clear view of the organization would be in the eyes of the staff.

(f) Indicator and process feedback for work environment:

  • Creation of authority and responsibility should be there so that every person is responsible for their own work.
  • Appoint supervisor in every group maintaining teams so that the work assigned and done could be properly reached to the manager.
  • Create the environment where each person’s work is checked by another person. This helps in cross checking of the work done.

Conclusion on Sim's Hardware Case Study

Sim’s hardware is an Australian company which is one of the largest retailers of hardware in Australia. It deals in various products such as paints, gardens, tools, house wares etc. The major work of this company is home improvement. So in this whole report we have discussed the partnership program plan of Sim’s hardware with one of the firm. We have analyzed the policies and procedures, its legal requirements, resource requirements and so on. Also we have analyzed the partnership agreement and discussed its outcomes in the partnership process, and also the consultation and the communication solutions regarding the same.

We have shown a media campaign advertising on research of a technological product in which the top management long term and medium term corroborative projects performance guidelines is shown. Also we have discussed the positive collaborative relationships within the Sim’s Hardware including its positive culture, conflict resolving, organizing of work activities, methods to encourage staff and other has been recognized.

References for Sim's Hardware Case Study

Partnership Consulting: An Ideal Way to Build Your Consulting Practice. (2018, Feburary 14). Retrieved may 7, 2020, from https://nation1099.com: https://nation1099.com/partnership-consulting/

Question: Sim's Hardware . (2019). Retrieved from https://www.chegg.com/: https://www.chegg.com/homework-help/questions-and-answers/sim-s-hardware-part-australian-retail-fandscape-last-many-decades-known-sim-s-hardware-ope-q40883980

shrestha, S. (2019, March 19). Introduction to SIMS Hardware. Retrieved may 7, 2020, from https://prezi.com: https://prezi.com/p/gfmql-x3l7s1/introduction-to-sims-hardware/https://www.chegg.com/homework-help/questions-and-answers/sim-s-hardware-part-australian-retail-fandscape-last-many-decades-known-sim-s-hardware-ope-q40883980https://thepartneringinitiative.or

The Benefits and Risks of Partnering. (2019). Retrieved may 7, 2020, from https://thepartneringinitiative.org: https://thepartneringinitiative.org/the-benefits-and-risks-of-partnering/

Wernette, W. (n.d.). 6 Communication Tips To Secure Lasting Business Partnerships. Retrieved may 7, 2020, from https://www.allbusiness.com: https://www.allbusiness.com/communication-tips-secure-lasting-business-partnerships-21267-1.html

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