Corporate Governance of Harvey Norman Free Samples for Students

Question: Discuss about the Major Domestic and International Factors affecting the Performance and the Motivation level of the Employees of Harvey Norman. Answer: Company profile Harvey Norman is one of the most famous multinational retail business owners in Australia. The company is operating their business with various strategic policies for better work force management along with highest productivity. The products that HN deals with are basically electronic and electrical products such as computers, communication equipments along with various furniture and home decors.The General Manager of the Human Resource Department reviews all the recruitment and selection processes. They use to ensure the appropriate mix of skills, experience and diversity in their new hires and they approaches progressively to get the objectives of the organized achieved in the set time limited. Corporate Governance The corporate governance of Harvey Norman recognizes the diversity factors in different parts of their business such as Employee diversity, Board diversity, the policies enforced by the company for the shareholders and the investors (Ningsih, Fadhlia Rahmawaty, 2016). Along with that, the company has various policies for share trading and the employees management and the company enforces equal opportunity for all in the organization. Apart from that, there is a risk committee to conduct the policy establishments for management risk measures and the audit committee for generating the realistic growth of the organization (Corporate governance, 2017). This report is considering the Human resource policies employed by Harvey Norman for research and discussion. Harvey Norman focuses on the high performance work practices in their organization and hence they have various equal opportunity policies to encourage people from different culture and thoughts to work together.In the definition of employees diversity HN considers the ethnicity, sexual orientation, cultural aspects, age, religious and political beliefs along with the socio-economic status. However, the major crucial diversity lies in the educational background, work and life experience and marital status and personality. The company approaches for the equal gender opportunities, though during the recruitment and selection process it is observed that the women have less participation than the men and hence in the major hierarchy (Public Report form, 2013). Objectives Remarkable recognition in the international business. High level performance by each employee for ultimate organizational growth in stipulated time frame. Develop skilled workforce and productive work environment. Strategies There are various strategies adopted by Harvey Norman to get their objectives achieved with strategic management principles. The HR managers always aspire to motivate their employees. They always try to bring the spirit of working best by overcoming every obstacle. Every good performance gets recognized by the HR managers and they use to evaluate the employees skills based on their performances in the organization. Scope The study critically evaluates the process through which the organization has enforced best quality work environment. The study considers the obstacles HN has faced and currently facing to employ the strategies for ultimate organizational growth. The evaluation has gone through the domestic and international factors relating with the strategies and objectives of the organization (Tricker Tricker, 2015). Major domestic factors There are various factors influencing the HR practices for the organizational growth and the development of a high performance work environment.In the studies of Human Resource Management, it is found that, the organization that opt for best workforce performances, focuses on the motivation theory. Motivation is the only key that influence all the other factors and hence help the employees to give their best in work. However, the HR managers of Harvey Norman always try to bring the spirit of good work and efficient performance among the employees (Delahaye, 2015). Internal factors Wright and Kehoe have stated three major factors that influencing the employee engagement such as cognitive aspect, behavioral aspect and the emotional aspects. The cognitive aspect deals with the relation among the employees and the managers along with the enforced policies. The behavioral aspect deals with the disciplinary actions and attitudes of the employers towards their employees (Miner, 2015). The emotional aspects deal with the team spirit among the employees, the cultural backgrounds and bonds among them, the belongingness to the organization. Apart from that, there are several other aspects which can be considered. External factors There are few external factors which depend on the characteristics of the people of the country. However, various other factors can be included in it. Such external factors are economic factors, government policies and regulations, technological advancements and coping abilities, demographics of the workforce and the characteristics of the industry. The government of Australia has enforced various regulations regarding the remuneration of the employees along with the gender diversity. However, there are few government norms regarding the performance management and the recruitment procedures which the companies need to follow (Armstrong Taylor, 2014). In the technological aspects, the e-HRM concept should be discussed as it influences the recruitment process and the overall workforce management in an organization. Along with that, the e-HRM also influences the relationship among the employees and their managers resulting in the overall performance of the organization (Marler, Fisher , 2013). Major International factors The company Harvey Norman is headquartered in the New South Wales and they are operating their business over various countries. Thus, there are several international factors that influence the employment strategies and human resource policies of the organization. Harvey Norman uses to handle millions of employees associated in various business operations and hence taking part in the progress of the organization. The HR managers of HN always focus on the high performance work environment and for this purpose they encourage each employee to achieve the set goals (Sparrow, Brewster Chung, 2016). However, the major international factors that influence the corporate governance and the HR policies such as Global opportunities, Risk Management, Trade practices and the geographic diversity can influence the Global policies of the company. The global policies also influence the hiring process from different countries. Along with that, in the global context, the cultural difference also resul ts in the differences in the motivation level of the employees (Hollifield, Martin Orrenius, 2014). Effects on business and strategy The business of Harvey Norman has been affected by various situation due the domestic and international factors. The effects on business are as follows Domestic factors such as cognitive aspects effect on the perception of the employees regarding the approaches taken by the company. Though, HN is an employee friendly company and they have acquired lucrative policies for the betterment of the employees (Eccles, Ioannou Serafeim, 2014). However, the personality factors of the employees somehow influences their perception about their superiors. Apart from that, the organizational culture also influences the perception of the employees and the behaviours and performance get influenced. This results in low graded performance in the market and the growth decline stage (Miner, 2015). Domestic factors such as behavioural aspects effect on the team works, attitude towards the obstacles come in various projects. The disciplined system is held responsible to bring success in human life along with in the organizations. Team culture is a very common culture in the retail business and hence it is necessary to build some behavioural aspects that should influence the overall performance of the company. The relationship among the peer employees is major factors that affect the growth opportunity of the company. The employees of Harvey Norman are flexible to work in changing shifts and they use to avail necessary facilities by doing extra work. Though the organization strategizes to motivate their employees with bonuses and incentives, there are few employees who lack in motivation in their responsibilities. Thus effect on the performance of the other employees too (Delahaye, 2015). Few of the employees faces major health issues along with financial issues, thus it results in demotivating them in their responsibilities (Benach et al 2014). Due to presence in various countries, the cultural diversity affects in the team work and the cooperation among the different department and hence fails to achieve the organizational goals. There use to be huge communication gap among them. The belongingness factor also gets influenced similarly and these results in the decision processes of the managers of various countries (Hill, Cronk Wickramasekera, 2013). Recommendations To implement the high performance work practices, the company needs to follow various leadership styles through the high level managers and the mid-level managers. The participative form of leadership needs to be followed. Equal right for every employee should be implemented and the Open door policy is suggested to enhance better communication process. Various professional training for skill development and team management should be done with all the good performers and the average performers (Goetsch Davis, 2014). Conclusion The report has directed the major domestic and international factors affecting the performance and the motivation level of the employees of Harvey Norman, working in the retail business. The factors are evaluated with the theories of Human resource management and Corporate Governance management and few recommendations are made. The report concludes that, the company has implemented various strategies to overcome the obstacles and enforce high performance work environment, but there are few more things to concentrate as mentioned in the recommendations. References Armstrong, M., Taylor, S. (2014).Armstrong's handbook of human resource management practice. Kogan Page Publishers. Benach, J., Vives, A., Amable, M., Vanroelen, C., Tarafa, G., Muntaner, C. (2014). Precarious employment: understanding an emerging social determinant of health.Annual review of public health,35, 229-253. Corporate governance. (2017). Harveynormanholdings.com.au. Retrieved 7 May 2017, from https://www.harveynormanholdings.com.au/corporateCharter.htm Delahaye, B. (2015).Human resource development. Tilde Publishing. Eccles, R. G., Ioannou, I., Serafeim, G. (2014). 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