OBJECTIVES:

Modern organisations operate in an increasingly volatile, uncertain, complex, and ambiguous (VUCA) environment. Changes and shifts in the wider external environment are no longer limited to either specific industries or by geographical boundaries, but both directly and indirectly impact on all organisations across the globe. Succeeding in this increasingly complex and integrated global environment requires organisations to be agile in order to respond quickly, flexibility and appropriately. This poses challenges for the modern manager: How can organisations plan and anticipate the future when this is often uncertain? How can organisations best balance the need for clear communication with increasing levels of ambiguity? How can internal resources be deployed most effectively whilst maintaining commitment and engagement levels? And finally, how does this impact on the professional development of managers? This unit will explore the traditional nature and form of organisations and how the external environment has led to the emergence of new organisational forms and ways of working. The implications of this on the role and scope of management will be considered drawing out the professional implications for those aspiring to a career in management. A range of contemporary working practices will be considered, examining the risks and benefits associated with these leading to an understanding of how these can best be deployed. This unit will also consider the people performance link, developing an understanding of the contribution that the right person, in the right place at the right time makes in helping ensure sustainable organisational success.

Throughout the world, the increasing level of innovation is a key factor that gives rise to constant changes in the market conditions for different goods and services. Business organisations therefore need to constantly evolve in order to compete effectively, underlining the need for strong business performance. This unit focuses on the importance of business performance and the need to identify, develop, and utilise the appropriate forms of measurement needed for informed managerial decisions and for the evaluation of the results of the actions taken. The impact of innovation within the organisation is very much part of this focus and its effect on business performance is addressed accordingly. As such, the unit aims to provide you with a theoretical framework of the concept of innovation that can be used to evaluate its impact in a range of business contexts and situations. As a result of studying this unit, you should be able to appraise the issue of innovation as it falls within, and relates to, a range of key business functions and disciplines. You should additionally be able to form a holistic view of the drivers and effects of innovation on the business enterprise, and to develop an awareness of the need to innovate. Furthermore, you should come to realise that the concept of innovation pertains to more than just technology, and, indeed, may not even have a technological basis or dimension. However, the need to identify, develop and rely on the right measurements is crucial to developing the correct perception needed to maintain and enhance business performance.

The focus of Effective Financial Management is the management of financial resources in a business. It addresses the applied techniques that managers need in order to take financial decisions in a business. It also addresses the critical and theoretical knowledge and skills that managers need to take financial management responsibilities. The aim of this unit is to enable you to: Assess the objectives of financial management Evaluate organisational activities, processes and performance Understand the impact of the financial risk on financial management in a business Examine and explain how businesses can finance their activities Evaluate options for the financing of a business Apply techniques to make appropriate investment decisions

This unit is aimed at developing a strong working understanding of economic theory and principles in the everchanging and dynamic international economic marketplace. When a firm decides to engage in international trade, it has different options. The aim of this unit is to make you aware of the relevance of each method of entry with the analysis of case histories. A key focus will be on how multinational firms and organisations operate internationally in an increasingly competitive marketplace. One of the key driving factors is the rise of information and communication technologies, and many markets that were previously limited to within nations are now truly international. The factors of production are increasingly mobile across the world with the movement of labour and capital being commonplace. You will also gain a working knowledge of the organisations that facilitate the many processes involved within the international trading environment.

It is the role of the human resource department to get the right people, in the right place, at the right time, with the right skills, at the right price. At each stage, human resource management involves investing some value into the people via recruitment and selection of the right candidate, identifying and developing their knowledge and skills, and undertaking strategic activities such as workforce planning, developing employee engagement and reward strategies to add value to both employees and the organisation. HR is more than just processes; if managed effectively it can add value and contribute to organisational success. This unit introduces you to contemporary approaches to managing people by analysing and challenging theory in relation to the practice of HRM. This will enable you to manage the people strategies in a diverse range of organisations and occupational disciplines breaking the stereotype and championing a value-added approach.

Engaged employees are enthusiastic and committed to the organisation. Enthusiastic and committed employees lead to organisation growth. Organisations want, therefore, engaged and motivated employees. The focus in this unit is on understanding engagement and exploring ways to improve and enhance the engagement of employees in an organisation. On completion of this unit, you will know what employee engagement is and you will also know what it is not. You will be able to distinguish between engagement and such concepts as job satisfaction and employee involvement. You will be able to evaluate the different types of employee engagement and the components that add together to form engagement. You will also be able to analyse how employee reward can be linked to engagement. Having studied this unit, you will be able to plan and implement organisational strategies, evaluating the tools and techniques available to increase and develop employee engagement. You will be able to analyse models of employee engagement and evaluate how appropriate they are in different organisational settings. You will understand how to monitor the progress of employee engagement strategies and reflect on the impact that such strategies will have.

Organisations today operate in an increasingly uncertain environment. Shifts in demographics and technology, changes in legislation and social behaviour, alongside ever-increasing globalisation and mobility, have all contributed to the management of employees becoming increasingly more challenging and complex. As such, the role of the HR professional has moved from focusing on managing policies and ensuring compliance within a legal framework, to a function which is strategically aligned, contributing and supporting business achievement whilst managing a number of conflicting stakeholder expectations. This unit focuses on the impact of these changes for the delivery of the HR function and what this means for the HR professional. Contemporary practices and recent trends in HR service delivery, including research on the contribution effective HR makes to sustainable organisational success, will be considered in order to determine the hallmark of an effective HR professional. The possibilities and issues offered by both ongoing evaluation of HR’s contribution and the concept of human capital reporting will be assessed. Looking ahead, the unit will reflect on current research and thoughts on the future of HR and the skills, behaviours, confidence, and agility required to deliver its priorities with intent and purpose. The need for an ethical approach to HRM will be explored, considering both the benefits and strategies to manage ethical and professional tensions. Finally, the unit explores the notion of critical reflection as a key component of professional learning.