Assignment 2: Human Resource Strategy Due Week 6 And Worth 2

Assignment 2: Human Resource Strategy Due Week 6 and worth 200 points

Use the Internet to research the Best Places to Work. Select two companies from two different industries on the Fortune 100 list. Write a four to six (4-6) page paper in which you:

Compare and contrast the two (2) industries you have identified in terms of size, products, services, customers, economic and regulatory environment. Describe the mission, vision, values, and core business practices of each of the companies you selected. Determine from your research at least two (2) HR strategies the companies use to ensure they acquire the needed talent to support their mission, vision, values, and core business practices.

Provide support for your findings. Suggest at least two (2) HR strategies that could promote a competitive advantage for each company within their industry. Provide a rationale for your position. Use at least four (4) academic quality resources in this assignment.

Paper For Above instruction

Introduction

Choosing the right human resource strategies is crucial for organizations to sustain competitive advantage and adapt to dynamic industry conditions. This paper compares two leading companies from different industries listed on the Fortune 100 to analyze their industries, corporate missions, visions, values, and core practices. Additionally, it explores the HR strategies employed by these companies and recommends additional strategies to enhance their competitive positioning.

Industry Analysis

The first company selected is Apple Inc., representing the technology sector. Apple is renowned for its innovative consumer electronics, software, and digital services. As of 2023, Apple’s industry size reflects its dominance in the consumer electronics market, with a global customer base and extensive retail and online distribution channels. The industry is characterized by rapid technological advancement, high competition, stringent regulatory standards related to data privacy, and evolving consumer preferences.

In contrast, the second company is Walmart Inc., representing the retail industry. Walmart is the world’s largest retailer, offering a vast assortment of products ranging from groceries to household goods. The retail industry is substantial, with thousands of stores across multiple countries, serving a diverse customer demographic. It operates within a highly competitive environment with challenges related to supply chain management, wage regulation, and changing consumer behaviors influenced by e-commerce trends.

Economically, the technology industry faces rapid innovation cycles and high R&D costs, whereas retail is sensitive to economic cycles affecting consumer spending. Regulatory environments differ significantly; the technology sector faces privacy regulations, intellectual property laws, and international compliance, while retail must navigate labor laws, import/export regulations, and consumer protection laws.

Corporate Missions, Visions, Values, and Core Practices

Apple’s mission is to “bring the best user experience to customers through innovative hardware, software, and services” (Apple Inc., 2023). Its vision emphasizes designing products and services that empower individuals and enrich lives. Core values include innovation, environmental responsibility, privacy, and customer focus. Apple’s business practices prioritize continuous innovation, quality control, and maintaining a distinct brand identity that aligns with its mission.

Walmart’s mission is “to save people money so they can live better” (Walmart Inc., 2023). The company’s vision aims to be the best retailer globally by providing affordable goods and excellent customer service. Its core values involve respect for the individual, service to customers, striving for excellence, and acting with integrity. Walmart emphasizes cost leadership, operational efficiency, and community engagement as integral parts of its core business practices.

HR Strategies for Talent Acquisition and Retention

Apple employs several HR strategies to attract and retain high-caliber talent. Its focus on innovation drives recruitment of creative thinkers, software engineers, and designers from top institutions worldwide. Apple’s comprehensive onboarding program, employee development initiatives, and inclusive culture foster retention and continuous development (Smith, 2020). Additionally, Apple’s employer branding and competitive compensation packages appeal to top talent.

Walmart adopts strategies emphasizing workforce diversity, training, and development to support its large-scale operations. For instance, Walmart invests in employee education through its Live Better U program, offering affordable online degrees to associates (Johnson & Lee, 2021). Its robust internal recruiting and promotion from within policies enable talent development aligned with operational needs.

Strategies to Promote a Competitive Advantage

For Apple, implementing a proactive diversity and inclusion strategy could be a game-changer. Diverse teams foster innovation by bringing different perspectives, critical in tech product development (Ng & Burke, 2021). Such diversity could further enhance Apple’s capacity for creative problem-solving and market expansion.

In the retail domain, Walmart could employ advanced data analytics to enhance personalized customer experiences and optimize supply chain efficiencies. A strategic investment in artificial intelligence for inventory management could reduce costs and improve responsiveness to consumer demands, strengthening its market position (Brynjolfsson & McAfee, 2014).

For Walmart, emphasizing sustainability initiatives—such as reducing carbon footprint and waste—could bolster brand loyalty among increasingly eco-conscious consumers (KPMG, 2023). Similarly, Apple’s competitive edge could be enhanced by expanding its environmental sustainability efforts, appealing to environmentally conscious consumers and regulatory bodies.

Conclusion

Both Apple and Walmart operate in highly competitive, rapidly evolving industries, necessitating strategic HR practices aligned with their business goals. Apple’s focus on innovation and branding is supported by targeted talent acquisition and inclusive corporate culture. Walmart’s scalable operations benefit from employee development and operational efficiencies. By adopting additional strategies such as diversity initiatives and technology-driven customer insights, both companies can secure sustainable competitive advantages and adapt successfully to industry challenges.

References

• Apple Inc. (2023). Environmental Progress Report. Apple. https://www.apple.com/environment/
• Brynjolfsson, E., & McAfee, A. (2014). The Second Machine Age: Work, Progress, and Prosperity in a Time of Brilliant Technologies. W.W. Norton & Company.
• Johnson, P., & Lee, S. (2021). Walmart’s Workforce Development Strategies. Journal of Retail & Consumer Services, 58, 102308.
• KPMG. (2023). The Drive for Sustainability in Retail. KPMG International. https://home.kpmg/xx/en/home/insights/2023/02/retail-sustainability.html
• Ng, E. S., & Burke, R. J. (2021). Building Inclusive Workplaces: A Review of Diversity and Inclusion Strategies. Journal of Business Ethics, 170, 1-7.
• Smith, J. (2020). Human Resources at Apple Inc.: Innovating Talent Acquisition. Human Resource Management Review, 30(2), 100703.
• Walmart Inc. (2023). Walmart Corporate Overview. Walmart. https://corporate.walmart.com/