Reference no: EM133142426

Human Resource and "The Profit"

Purpose: The purpose of this exercise is to provide practice in identifying and applying the basic concepts of human resource management by illustrating how managers use these techniques in their day-to-day jobs.

Required Understanding: Be thoroughly familiar with the material in this chapter, and with at least one or two episodes of CNBC's The Profit with Marcus Lemonis https://www.tv.com/shows/the-profit/watch/. (Access a library of past episodes at URLs as https://www.cnbc.com/live-tv/the-profit)

Instructions:

• Form teams of several students.
• Read this: 

As you may know by watching billionaire Marcus Lemonis, as he works with actual small businesses in which he's taken an ownership share, human resource management often plays an important role in what he and the business owners and managers need to do to be successful. For example, at Grafton Furniture, a lack of clarity about who does what (a lack of up-to-date job descriptions) leads to inadequate supervision of some ongoing orders and to lower profit margins. Questions also arise at Gafton about, for instance, the effectiveness of the training that some managers (including the owner's son) have received.

Watch one of these shows (or reruns of the shows), discuss with your team and answer the following questions:

1. What specific HR functions (recruiting, interviewing, and so on) can you identify Mr. Lemonis addresses on this show? 

2. What specific HR functions can you identify as being problematical in this company?

3. In terms of HR functions (such as recruiting, selections, interviewing, compensating, appraising, and so on) what exactly would you recommend doing to improve this company's performance?