Task 1Overview of “ABC convenience store” ABC convenience store was founded at Yangon, Myanmar in 2007. And now it is the largest retail chain in Myanmar having over 100 stores throughout some major city of Myanmar including Yangon, Mandalay, Naypyidaw and many more. It has planned to increase up to 1000 stores in next 5 years,to do so it is looking forward to foreign investor. ABC is the first convenience store that introduces the new way of shopping conveniently in a cool, clean and quality environment. In analyzing the shopping customers in Myanmar, 99% of people shop at wet market, only remaining 1% are the fan of convenience shopping. In that 1% of customers, 56% shop at grocery shops, 30 % at convenience stores, 17% at supermarket and the remaining 15% at minimarts. Although there are not large numbers of customers for convenience store, ABC has founded the strongest and biggest store chain in Myanmar. And they are also looking forward of foreign investment for the future expansion program. ABC has over 800 employees and now starting it new plan of employing part time worker. They target the college and university students who want a part time job in their free time.Human resource planningThe human resource management is known the process in which both employee and management need to participate. It is related to adjustment of wages, working hours, working environment or conditions and some needs other likes of the employees. “ABC” carries out human resource planning in order to find out whether the employees are well fit in the business and to avoid using manpower at unnecessary places which can lead to manpower shortage. This human resource planning can give advantages to both employees and employers. This is because it allows employers to manage well and give power to employees to request for what they want. “ABC” carry out human resource planning in six steps. They are as follows;
In the first step, ABC analyzes the organizational objectives. “ABC” set objectives and goals that will have to be achieved in the future. This can be for various workplaces, examples – production, marketing, finance, expansion and sales gives the idea about the work to be done in the organization.Then in the second step, “ABC” forecast the supply and demand of the human resource. This mean that “ABC” compare the supply and demand of the human resource that is one of the major problem of many business with human resource.The third step is where “ABC” estimates the manpower. They forecast the requirement they can have with human resource in the future. They also cover this by adding job description and job specification.  In the fourth step, “ABC” formulates the human resource action plan. As their human resource plan depends on the number of the employee in the business they also make sure that they have enough finance to make new recruitment, transfer or give training to the required employee. Only then their human resource plan will be strong and secure.
ABC convenience store, founded in 2007 in Yangon, Myanmar, has become the largest retail chain in the country, with over 100 stores spread across major cities such as Yangon, Mandalay, and Naypyidaw. The company has ambitious plans to expand further, aiming to reach 1000 stores within the next 5 years. To achieve this goal, ABC is actively seeking foreign investors.
ABC convenience store stands out from its competitors by offering a new way of shopping conveniently in a cool, clean, and high-quality environment. This approach has been successful, despite the fact that only 1% of the population in Myanmar engages in convenience shopping, with the majority still preferring wet markets. Within the 1% that do shop at convenience stores, 56% choose grocery shops, 30% opt for convenience stores, 17% prefer supermarkets, and the remaining 15% frequent minimarts. Despite the relatively small customer base for convenience stores, ABC has managed to establish itself as the strongest and largest convenience store chain in Myanmar.
With over 800 employees, ABC is now implementing a plan to hire part-time workers, specifically targeting college and university students seeking employment during their free time. This initiative not only provides job opportunities for students but also allows ABC to meet its staffing needs efficiently.
Human resource planning plays a crucial role in ABC’s operations. It involves the active participation of both employees and management, focusing on aspects such as wage adjustments, working hours, working conditions, and employee needs. By engaging in human resource planning, ABC ensures that employees are well-suited to their roles and avoids unnecessary manpower allocation, which could lead to shortages.
ABC follows a six-step process for human resource planning. The first step involves analyzing the organization’s objectives and goals, which provides a clear understanding of the work that needs to be accomplished across different departments such as production, marketing, finance, expansion, and sales.
The second step involves forecasting the supply and demand of human resources. This step is crucial in addressing one of the major challenges faced by many businesses – ensuring that the supply of employees matches the demand. By accurately assessing supply and demand, ABC can make informed decisions regarding recruitment and staffing.
In the third step, ABC estimates the manpower required for future operations. This estimation is supported by job descriptions and job specifications, which outline the necessary skills and qualifications for each role.
The fourth step focuses on formulating the human resource action plan. This includes financial planning to support recruitment, transfers, and training to ensure that the necessary workforce is available. By aligning their human resource plan with the organization’s employee numbers and financial capabilities, ABC can create a robust and secure plan.
In conclusion, ABC convenience store has emerged as the leading retail chain in Myanmar by offering a unique shopping experience. Through effective human resource planning, ABC ensures that its employees are well-suited to their roles and that the organization has the necessary workforce to achieve its objectives. With its plans for expansion and the recruitment of part-time workers, ABC is poised to continue its growth in the Myanmar market.
The fourth step of formulating the human resource action plan is a crucial aspect of ensuring the success of ABC convenience store in Myanmar. This step involves financial planning to support various HR activities such as recruitment, transfers, and training. By aligning their human resource plan with the organization’s employee numbers and financial capabilities, ABC can create a robust and secure plan that supports its growth and development.
Financial planning plays a significant role in the human resource action plan as it determines the budget allocated for recruitment, transfers, and training. Allocating the appropriate financial resources ensures that ABC can attract and retain talented individuals who are well-suited to their roles within the organization. This financial planning also enables ABC to provide necessary training and development opportunities to its employees, ensuring that they have the skills and knowledge required to perform their duties effectively.
By aligning the human resource plan with the organization’s employee numbers, ABC can ensure that it has the necessary workforce to meet its objectives. This involves analyzing the current workforce and identifying any gaps or areas of improvement. With this information, ABC can develop strategies to address these gaps, such as recruitment or transfers, to ensure that the organization has the right people in the right positions.
Additionally, aligning the human resource plan with the organization’s financial capabilities is crucial for creating a secure plan. This means considering the financial resources available to ABC and making strategic decisions regarding the allocation of funds. By doing so, ABC can ensure that its human resource actions are financially sustainable and in line with the organization’s overall financial goals.
In conclusion, ABC’s success as the leading retail chain in Myanmar can be attributed to its effective human resource planning. By formulating a comprehensive human resource action plan that includes financial planning, ABC ensures that its employees are well-suited to their roles and that the organization has the necessary workforce to achieve its objectives. With plans for expansion and the recruitment of part-time workers, ABC is well-positioned to continue its growth in the Myanmar market.