Business Case analysis Samples for Students †MyAssignmenthelp.com

Question: Discuss about the HRM Business Case analysis. Answer: Introduction For every business it is required that appropriate set of decisions should be taken so as to assure that it could move on the path of success and sustainability. The report is developed which will include information related with various aspects of business case. Information related with the importance of return on investment to the business and critical thinking at the workplace will be provided so as to ensure that appropriate set of information could be delivered to the business with the effect of which it could process the work process and could move on the path of success as well as sustainability. Business Case The reasoning so as to initiate the project is being captured in the project or the tasks. It is a well written as well as well structured written document which provides appropriate set of direction to the organization with the help of which effective set of decisions could be taken (Ainsworth, 2013). Business case is being used so as to analyze uses of various set of resources such as money or the effort which is being consumed in any kind of the business process and the help and support which will be provided to the business in sustaining and ensuring that the business could move on the path of success as well as sustainability (White and McLaughlin, 2011). Human Resource Initiatives Human resource provides an effective set of support in any business case because it avails proper set of support system to the business with the help of which it could sustain in the market. It is required that proper decisions should be taken by the business in choosing appropriate human resource which could help in processing the work process in an effective manner (Weathington, Cunningham and Pittenger, 2012). Human resource provides helps in implementing the business plans into real life so that business could fulfill the requirements of the market and avail effective set of services to the people available in the market. There are various set of initiatives which are being taken by the human resource management like it is required to be a proactive business leader with the help of which business could sustain in the market, proactive leaders ensures to take the initiative to manage the work in an appropriate manner and to provide an effective set of support system to the organization with the help of which business could sustain in the market (Volkmann, Tokarski and Ernst, 2012). Human resource management of the business focuses on the top and high potential performers and helps in delivering appropriate set of support for them with the help of which assurance could be made that these performers could remain motivated and provides effective set of support to the organization (Rouwendal, 2012). Rewards and recognitions are being availed to the top high performers which help them in remaining motivated and provide proper set of support to the same with the effect of which they avail quality services to the business which ensures that the business could process its work process in a smooth manner (Owings-Edwards and Herz, 2011). Human resource management uses the best practices as a guide not as a rule book (Nielsen, 2010). It is one of the good quality attached with the human resource management as it uses the best practices as the guide with the help of which it could ensure to provide an effective support to the organization and keeps track records of all the negative as well as positive aspects with the effect of which work could be processed with quality for the next time (Michalos, 2013). Taking such type of decisions a better as well as effective set of support system is being created for the organizations with the help of which risk of uncertainties gets minimized and organization could process all the business processes in a smooth and subtle manner (Ldeke-Freund, 2014). Understanding total compensation is another initiative which is being taken by the human resource management with the help of which various processes related with business case (Karmarkar and Mangal, 2013). It is required that the compensation of the entire workforce should be designed in an appropriate manner so that they could work properly at the workplace. It is required that proper compensation should be availed to the employees which could help them in managing their lifestyle and ensuring that they could remain motivated at the workplace (Hunt and Secor, 2013). There are various other initiatives also which are being taken by human resource management like various development programs are being initiated by the managers (Heynderickx, 2012). For example to perform the task with quality at the workplace it is required that the organization should work towards to build effective team. In this case manager of the business take the initiative and ensures that all the employees should get proper compensation according to the work I performed by them (Gil Lafuente, 2013). Human resource information system is another aspect which is being taken into consideration by the human resource management so s to ensure that all set of information should be shared by the employees. Managing the information system is a very crucial task which requires recording the information in an appropriate way (Doyle, Bell and Smith, 2011). It is more important that such type of information should be escalated in a proper manner to the employees working at the workplace, doing so helps in performing the tasks in an appropriate manner and helps in ensuring that the tasks could be completed in an effective way within the time limits which are being decided by the organization (Doing business in a more transparent world, 2012). Essential Elements of a Business Case Managing the business case is one of the most crucial aspect in which it is required that the business should critically evaluate all the things in a proper way (Daly and Les, 2012). Organizations should work towards to gather appropriate set of information related with various elements which could help in managing the business case in an appropriate manner. There are certain elements of business case which are being focused upon so as to manage the things (Cobb, Tworoger and Preziosi, 2011). These elements are as follows: It is required that a brief compelling service oriented problem statements should be developed by the organization so as to ensure that the business could sustain in the market (Cherneva, 2013). Developing the mission as well as vision statement for the future which will help in addressing the future problems will help in availing proper support system to the business case in which problems related with the same will be addressed in a proper manner (Bowden and Belfield, 2015). To manage the business case it is required that the description of the specific objectives of the work process should be achieved in an appropriate manner. Such type of description helps in managing the work process with the help of which proper support system is being created so as to perform the tasks in effective as well as appropriate manner (Appelbaum and Samaha, 2011). It is required that the description and the rationale for the preferred approach should be developed by the organization for the business case in such type of situation rationale for the work process should be developed with the effect of which organization could sustain and could ensure to manage all the work processes in a proper way (Ainsworth, 2013). The statement of the benefits which are concerned with the stakeholders should be developed by the organization so that in the business case stakeholders related with the business should work effectively and should provide an effective set of support system for the organization with the effect of which it could sustain in the market (White and McLaughlin, 2011). These are some of key elements which are attached with the business case which are required to be focused upon so as to ensure that the business could sustain in the long run and could ensure that the work process could be completed within the time limits required to perform the tasks related with the businesses (Weathington, Cunningham and Pittenger, 2012). Cost Benefit Analysis The systematic approach used by the organizations which helps in estimating the strengths and weaknesses of the alternatives like transactions related with the goods and services, key activities of the workplace, functional requirements of the business, investment done by the business on various projects is being done is known as Cost Benefit Analysis (Volkmann, Tokarski and Ernst, 2012). It is required that the cost benefit analysis of the business should be done in an appropriate manner so as to ensure its success in the market (Rouwendal, 2012). Cost benefit analysis helps the business in providing the direction with the effect of which it could analyze all the aspects with the effect of which the investments done by the business could provide various benefits and ensure to provide a proper set of support to the business with the effect of which its processes could be completed in an effective manner (Owings-Edwards and Herz, 2011). Principles of Cost Benefit Analysis There are various principles attached with the cost benefit analysis in which helps in providing a proper set of direction to the company with the effect of which various processes of the business will be managed in an appropriate manner (Nielsen, 2010). These principles of cost benefit analysis are: It is required that in a business case there should be a common units of measurements in which balance should be maintained by the organization with the effect of which work could be performed in a proper manner. It is required that the businesses should have proper set of idea of various measurements so that appropriate set of decisions could be taken by it (Michalos, 2013). To manage the business case in a proper way organization should work towards to do appropriate CBA valuation which should ensure to represent the valuation of consumer and the producers valuation. This valuation will help in the decision making aspects with the effect of which organization will get various set of benefits and will be able to move on the path of success as well as sustainability (Ldeke-Freund, 2014). For the cost benefit analysis business should ensure to measure all set of aspects by the market choices. Focusing upon the requirements as well as choices of the market will provide a set direction to the organization. It helps in making the decision of the type of products and services required by the market and helps in developing the same accordingly (Karmarkar and Mangal, 2013). These are some of the key principles which should be focused upon so that business case could be successfully implemented and all the processes related with the same could be performed in an effective manner (Hunt and Secor, 2013). These are the aspects which help in providing effective set of support to the business case with the effect of which business could move on the path of success as well as sustainability (Heynderickx, 2012). Return On Investment The performance measure which helps in the evaluation of the efficiency of the investment made by the organization in the business process is known as return on investment (Gil Lafuente, 2013). For an effective business case it is required that the business should do appropriate set of evaluations of the investments which are made by the organization (Doyle, Bell and Smith, 2011). When an organization gain profit after investing the money in business case then it is being that the business has received effective return on investment. A formula for return on investment is gain from investment minus cost of investment divided by cost of investment (Doing business in a more transparent world, 2012). ROI = (Gain from the investment Cost of Investment)/ Cost of investment. For Example: Joe invested $ 1000 in the corporation named as Slice Pizza Corp. in 2010. After some time Joe sold his shares for $1200. So as to calculate return on investment it is required that Joes should use the formula of ROI (Daly and Les, 2012). ROI = (1200 1000)/1000 = 20% Hence, it could be evaluated that the return on investment that is being gathered by Joe is 20% by investing his money in the shares (Cobb, Tworoger and Preziosi, 2011). In the same manner it is required that the businesses should work towards to invest the money in the right direction. Such type of activities will help in availing affective set of benefits to the organization with the effect of which it will be able to sustain in the market (Cherneva, 2013). It is required that appropriate set of investments should be made by the organizations which could help them in sustaining and will help in ensuring that the business could continue to remain in the competition and attain the competitive advantage in the market. Evaluation Business evaluation is one of the most important aspects attached with any business. It is required that the evaluations should be done in a proper manner with the effect of which work process could be managed and business could move on the path of success as well as sustainability (Bowden and Belfield, 2015). All the aspects like cost benefit analysis, human resource initiatives and developing understanding with return on investment will help the organization to sustain (Appelbaum and Samaha, 2011). To manage the short term goals it is required that the business should focus upon the human resource and to manage the long term goals it is required that the business should focus upon the technology as both the aspects will help in solving the purpose of the organization (Ainsworth, 2013). Business Case Summary (Conclusion) With the help of various aspects indulged in the business case it could be concluded that the business should focus upon the human resource initiatives, should understand the important of cost benefit analysis and the return on the investment that will get with the help of the business processes. Evaluating all the aspects will ensure to provide an appropriate direction to the business with the effect of which it will be able to move on the path of success and sustainability. It is required that the business should have the team of research and development which could help it the sustainability aspects and could avail proper set of support so that it could attain competitive advantage in the market. Critical Reflective Analysis According to me the information availed in this report is appropriate and will help in the decision making aspects of the business. It could be suggested by me that business in present scenario should focus upon the long term as well as short term goals with the effect of which they could sustain continue to provide effective set of services to the people available in the market. References Ainsworth, J. (2013). Business Languages for Intercultural and International Business Communication: A Canadian Case Study.Business Communication Quarterly, 76(1), pp.28-50. Appelbaum, S. and Samaha, A. (2011). 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