NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Submission BCS
International expansion solutions of Ramalingam Foods by KLS Consultants
Submission Date & Time: 2021-11-24 06:52:52
Event Name: NMO S4 Sprint One - IIM Visakhapatnam
Solution Submitted By: Badam Sri Swetha
Assignment Taken
Develop a Hiring & Incentive strategy for Human resources working on international expansion to enable a speedy growth.Case Understanding
Mr. Ramalingam Venkatesh founded Ramalingam Foods in south Bombay in 1965, and it is known for its freshly cooked south Indian meals and filter coffee. The business is now trying to expand globally. As a result, they face a number of issues in this regard, including: 1) Employees may lack knowledge of the items supplied. 2)In a new international location, employees may struggle to comprehend the culture and tastes of the locals. 3)Hiring new personnel for a new overseas location is tough, and the company will face challenges as a result of reasons such as poor or insufficient capital, cultural differences, and other considerations.BCS Solution Summary
1)Training and understanding about the food goods or food items that the company will offer must be provided to the staff. 2)The newly hired personnel at the new international site should be instructed and motivated to learn about the country's local population's tastes and preferences. 3)Ramalingam Foods' management should work with both the HR department and the government of the country where it intends to expand to understand and learn about the compensation structure. 4)In the new location, Ramalingam Foods' HR department and management should examine the methods of other companies.Solution
1) Development of Each and Every Person to Their Maximum Efficiency and Prosperity: According to this principle, each and every person's efficiency should be prioritised from the moment he is hired. It is necessary to organise everyone's training so that Ramalingam Foods staff are knowledgeable with the company's products and can explain them to clients.
2) Initiative: Ramalingam Foods' management and personnel must take the initiative to learn about local tastes and preferences of customers.
3) Coordination: This principle requires appropriate coordination not only among Ramalingam Foods' numerous departments, but also with local governments.
Hiring & Incentive strategy of Ramalingam Foods for Human resources working on international expansion
- Hiring strategy of Ramalingam Foods:
Ramalingam Foods should implement the following strategies while setting up and expanding its business in Singapore, Myanmar, Indonesia, Thailand and Malaysia:
HIRING STARATEGIES IMPLEMENTATION
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1) Deciding on the Best Sourcing Strategy and Channels
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Varied countries have different success percentages for the same sourcing channel when it comes to locating good personnel. A successful sourcing strategy should take into account cultural variations. Ramalingam Foods should make use of internet employment portals, which are a good way to find the suitable people in the international market. |
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2)Carrying out interviews in a professional manner |
The company must conduct research into the country's educational qualification levels as well as the quality of schooling. In other countries, the name of a qualification/course that covers a comparable syllabus or curriculum will be different. |
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3)Comprehension of Cultural Differences |
When trying to recruit in a foreign country, it's also important to understand cultural differences and how they play out in the interview process. |
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4)Understanding the Variations in Compensation
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Before hiring, Ramalingam Foods should keep in mind that different countries have distinct currencies and pay cultures. Ramalingam Foods should be aware of the currency of the country for which the recruiting is being conducted, as well as how that currency relates to the currency in which the company keeps its budget and expenses. |
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5)Maintaining compliance |
Distinct nations have different statutory requirements for different job categories, such as minimum salary, social security, income tax, medical benefits, leave policy, working hours, offer letter, appointment letter, notice periods, and so on, so the company must follow the rules. |
Projected Number of employees to be Hired across different departments in all the five countries for the upcoming financial year 2019-2020:
DEPARTMENTS TOTAL NO OF EMPLOYEES
|
FINANCE |
5(1 Per country) |
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MARKETING |
5(1Per country) |
|
HR |
5(1Per country) |
|
IT |
5(1Per country) |
|
OTHERS |
5(1Per country) |
|
CORPORATE HEAD (TO OVERSEE THE OPERATIONS OF ALL THE FIVE COUNTRIES) |
1 |
B) Incentive strategy of Ramalingam Foods:
Ramalingam Foods is a company based in Ramalingam, India in order to maximise employee performance, the company should consider offering both monetary and non-monetary incentives if the employees meet the following goals:
1)Excellent customer service and a focus on quality
2) Successful collaboration with many food chains
3) Increased sales of its food goods demonstrate efficiency.
In Ramalingam Foods, monetary incentives may include:
1) Bonuses for exceeding management's objectives
2) Financial incentives
Ramalingam Foods may offer non-monetary incentives such as:
1) Formal acknowledgment for high-performing personnel
2) Additional vacation time in exchange for meeting specified sales targets for the company's products, as determined by management.
Conclusion
Ramalingam Foods should consider following its business consultant's hiring approach and strategies. In addition, the company's incentive strategy for its personnel must be carefully considered; management can rely on the advice of its business consultant in this regard. References: https://www.toolshero.com/management/14-principles-of-management/ https://www.business.com/articles/management-theory-of-mary-parker-follett/ https://www.globalpeoplestrategist.com/5-strategies-for-successful-international-hiring/Attached File Details
View Attachment file (NMO HR.pdf)Video
https://youtu.be/qnhDWuFEoZsComments
Article Type: Business Case Scenario, Case Study Solution Submission
Business Case Detail
Title: NMO S4 SPRINT ONE | BUSINESS CASE SCENARIO - 03
Type: Case Study
Stream: Management
Participant
Indian Institute of Management Visakhapatnam I am Badam Sri Swetha. I am diligent and confident person and I would like to pursue my career in HR.
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