Business Start-up: Visioning Before Strategizing (Essay Sample)
what do we do before starting a business? Create
Visioning Before Strategizingsource..
Running Head: Visioning before strategizing
Visioning Before Strategizing
Name of the Class (Course)
Name of the School (University)
The City and State where it is situated
Visioning Before Strategizing
Starting a business requires two major factors to be recognized for energizing the enterprise progress and achieve success. First is finance and second is human resource. This treatise will enumerate all about human resource management from visioning, strategizing to managing the human capital.
Type of business, the number and type of employees, state city and area of the company:
Type of business that is selected for this assignment is “Software development,” number of employees in start of the business would be 10-15, the state and city of the company would be Los Angeles, United States.
Business strategy is to start with the unskilled and semiskilled human resource to establish business with low investment. I believe that the businesses with low investment in hand need to develop their quality human resource themselves. Therefore, they need to hire unskilled/semiskilled resource and train them during employment.
HR program alignment and compensation system for this new business:
The business policy has been mentioned above that is hiring unskilled and semiskilled workers. Therefore, the HR program alignment and compensation system would be of the same level and slab. Unskilled and semiskilled workers are low and average paid workers. However, the best thing of the program is on duty training that will make them valuable human capital of the company.
List of essential guideposts for developing a total compensation policy:
Two main policies will be important to develop before start and then run and then running fast the business. These policies are defined as under:
1: Basic policies for compensation:
Basic policies include the remuneration that will be paid to the employees for their regular working hours. Besides that every employee will be entitled for over-time pay, holiday pay, vacation pay, knowing the date of payment of pay, deduction of government taxes form pay, and payroll record.
2: Performance bonus and other incentives:
It is important in such an organization where employees are recruited on low rate basis with the aim of enhancing their capabilities and skills with the help of training programs. Performance bonus and other incentives are part of skill development strategy; with performance bonus and other incentives strategy the emp
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