Human Resources in Small Business
ACCT2188 – SMALL BUSINESS AND THE ACCOUNTANT
SEMESTER 1 - 2011
Lecturer: Hanh Nguyen
Group members:
Nguyen Thi Thanh Tra – s3274925
Duong Thi Chuong Dung – s3275045
Tran Y Nhi – s3275061
Table of contents Executive summary 3 Introduction 4 Literature review 4 Methodology 11 Findings 12 Quoc Bao Restaurant 12 Tan Thanh Plastic Company 14 Comparison with the theory 16 Conclusion 19 References 20
I. EXECUTIVE SUMMARY:
The project report will discuss the ability of the small business to manage the human resource effectively. The focus of this topic will be the training of employees and the appropriate compensation system for the human resource which are playing an important role in well-managed staff.
The literature review has gathered different ideas from a variety of sources and authors on the topic and has revealed that the small business is less likely to effectively manage the human resource because of insufficient funds. Therefore, they could not have a proper training method and comprehensive compensation system even though a large number of business owners do realize their importance and benefits of applying two of the above mentioned methods.
With a view to determine whether the small business can effectively manage its human resource, a couple of interviews are conducted. Two small business owners who are from Quoc Bao restaurant and Tan Thanh plastic company are asked to share some interesting experiences as well as troubles they may meet in the way of managing their employees. Through the interview process, some differences are emerging which are the willingness of small business to pay the salary or other forms such as commission or bonus as high as possible to retent the employees and encourage them to work hard.
Next, the report will compare both of the interviewed small business owners’ methods of managing human resource which are from manufacturing and service perspectives. The report also
SEMESTER 1 - 2011
Lecturer: Hanh Nguyen
Group members:
Nguyen Thi Thanh Tra – s3274925
Duong Thi Chuong Dung – s3275045
Tran Y Nhi – s3275061
Table of contents Executive summary 3 Introduction 4 Literature review 4 Methodology 11 Findings 12 Quoc Bao Restaurant 12 Tan Thanh Plastic Company 14 Comparison with the theory 16 Conclusion 19 References 20
I. EXECUTIVE SUMMARY:
The project report will discuss the ability of the small business to manage the human resource effectively. The focus of this topic will be the training of employees and the appropriate compensation system for the human resource which are playing an important role in well-managed staff.
The literature review has gathered different ideas from a variety of sources and authors on the topic and has revealed that the small business is less likely to effectively manage the human resource because of insufficient funds. Therefore, they could not have a proper training method and comprehensive compensation system even though a large number of business owners do realize their importance and benefits of applying two of the above mentioned methods.
With a view to determine whether the small business can effectively manage its human resource, a couple of interviews are conducted. Two small business owners who are from Quoc Bao restaurant and Tan Thanh plastic company are asked to share some interesting experiences as well as troubles they may meet in the way of managing their employees. Through the interview process, some differences are emerging which are the willingness of small business to pay the salary or other forms such as commission or bonus as high as possible to retent the employees and encourage them to work hard.
Next, the report will compare both of the interviewed small business owners’ methods of managing human resource which are from manufacturing and service perspectives. The report also
References: VIII. REFERENCES: Arthur, D (1995), Managing Human Resources in Small and Mid-Size Companies, American Management Association, New York. Beresford, R. and Saunders, M.N.K. (2005), “Professionalization of the business start-up process”, Strategic Change, Vol. 14, pp. 337-347. Billett, S. (2001), “Increasing small business participation in VET: a hard ask”, Education and Training, vol. 43, no. 8, pp. 416-425. Heneman, R, Tansky, J and Camp, S. (2000), “Human resource management practices in small and medium-sized enterprises: unanswered questions and future research perspectives”, Entrepreneurship Theory and Practice, vol. 25, no. 1, pp. 11-16. Huang, T.C. (2001), “The relation of training practices and organizational performance in small and medium enterprises”, Education and Training, vol. 43, no. 8, pp. 437-444. Klass, B, McClendon, J and Gainey, T (2000), “Managing HR in the small and medium enterprise: the impact of professional employer organizations”, Entrepreneurship Theory and Practice, vol. 25, no. 1, pp. 107-124. Redmon, E, Webster, B and Clus, M (2007), “Small business owners: too busy to train”, Journal of Small Business and Enterprise Development, Vol. 14 No. 2, pp. 294-236. Webster, B., Walker, E.A. and Brown, A (2005), “Australian small business participation in training activities”, Education and Training, vol. 47, no. 8, pp. 552-556. Westhead, P. and Storey, D. (1996), “Management training and small firm performance: why is the link so weak?”, International Small Business Journal, vol. 14, no. 4, pp. 13-24.