Human Resource Consultancy Firm Business Proposal

BUSINESS ENTREPRENEURSHIP

STUDENT’S NAME

COURSE

UNIVERSITY

DATE

Table of Contents

HUMAN RESOURCE CONSULTANCY FIRM BUSINESS PROPOSAL        3

SECTION ONE        3

INTRODUCTION        3

Idea generation        4

PROPOSED DEVELOPMENT        5

SECTION TWO        6

Opportunity Formation.        6

Brief description of entrepreneurial product        6

Process involved in opportunity formation        8

SECTION THREE.        10

OPPORTUNITY DEVELOPMENT.        10

THE DEVELOPMENT PATHWAY        10

MEASURES THAT SHALL BE USED TO ACKNOWLEDGE DEVELOPMENT ACHIEVED        12

ENTREPRENEURIAL PERSPECTIVES FOR OPPORTUNITY DEVELOPMENT        14

Economics-finance perspective        15

VALUE PROPOSITION        17

SECTION FOUR        18

CONCLUSION        18

References        19

Appendix- BUSINESS CANVAS MODEL        22

HUMAN RESOURCE CONSULTANCY FIRM BUSINESS PROPOSAL

SECTION ONE

INTRODUCTION

Business idea has become one of the major problems for many graduates who move from one office to another looking for jobs and yet they can be their own bosses from the knowledge they have acquired from their study (Booker, 2010). It is usually advisable for any student to brainstorm on various business ideas in relation to possible ventures he or she can start after his or he studies so as to be in a good position to give back to the society rather than expecting for employment from the society. According to Warner (2016)success in the current world requires individuals who are creative and innovative, who can use the knowledge acquired during their course of study to come up with businesses where they can create employment opportunities for other people in the society hence the entire nation would experience economic development.

                              Idea generation  

   As a human resource management student, I did a thorough analysis of the current trends in the market in line with my area of specialization and discovered that most of the companies are suffering poor performance due to poor recruitment and selection processes involved(Galindo and Méndez, 2014). Most of the employees are not scrutinized appropriately for efficiency in skills as the companies focus excessively on the theoretical knowledge of the recruits on the job based on their academic performance and focusing less on the practical knowledge (Alvarez, Audretsch and Link, 2016). This has been a problem as most of the employees end up struggling to cope up due to less exposure on practical knowledge which led to the idea for a Human resource consultancy firm where successful candidates for various companies would be accessed for practical knowledge in various areas of expertise for a given duration of time before being fully absorbed in to their relevant organizations.

                   PROPOSED DEVELOPMENT

Most of the human resource consultancy firms that exist offer advisory services to the companies in relation to various aspects of human resource management. They advise companies on areas such as recruitment and selection, compensation, policy formulation and formulation of various human resources strategies which does not conflict with the overall objectives of the organization by devising efficient means of aligning the two for the success of the organization. A gap that exists in their services is ascertaining the practical knowledge of the applicants in their various areas of specialization for a given period of time so as to enable organizations obtain a competent work force hence a need for the development in the service(Dees, 2017).

     The consultancy firm shall be important because most of the successful applicants shall be sharpened on their skills hence provision of the best services to the organizations facilitating the achievement of organizational goals and objectives (Cruickshank, 2013). The firm shall have a partnership with various companies across Europe where the successful applicants for job opportunities from various organizations shall be referred by the company for assessment after which they shall be offered full employment by the organizations after meeting all the requirements during the period of assessment. Indeed this is a very unique service that shall be offered by my business firm.

SECTION TWO

Opportunity Formation.

This section is generally going to discuss the service offered by the consultancy firm, the process I used to come up with the type of service in place and the process involved in service delivery by the organization.

Brief description of entrepreneurial product

The consultancy firm shall be offering unique services that are rarely offered by many existing companies. The process of operations shall be as follows:

Companies presenting their successful candidates for various positions

Various companies shall recruit individuals for various positions and present them to the consultancy firm for assessment of their practical knowledge in various areas of specialization.

Allocating the individuals various industries

The consultancy firm having partnership with various companies in various sectors shall be in a good position to send the applicants to those companies, where they shall work voluntarily for a period of three months in their relevant positions under the supervision of experts from the consultancy firm.

Recommendations

The experts from the consultancy firm shall recommend the performance of the successful applicants to the companies that send them after which individuals who have been successful during the assessment shall be offered full employment with full salary for the three months they worked in their places of designation in various companies.

Termination of the contract

The consultancy firm brings the contract to an end after the organization pays for the services offered and wait for another possible assignment from the same or other organization.

Process involved in opportunity formation

Brainstorming

As an expert in human resource management, I wanted to know the area in human resource management that I can specialize and offer unique services for the benefit of the entire society.

Identification of an area in human resource that needs improvement

I discovered that most of the recruitment procedures used by organizations are not efficient as most of the organizations are still experiencing performance problems among the employees despite of following the entire procedure and decided to fill the performance gaps by taking a further step of coming up with an organization that shall be assessing the skills of the applicants for a given duration of time before been fully employed by the organizations.

                         Sharing the idea with human resource experts for deliberations

After coming up with the idea I shared it with various experts in the field of recruitment who gave my idea maximum support and acknowledged that in deed it would result to competent employees in various organizations hence solving the performance gaps that exist in many organizations today. As an entrepreneur, I belief that many organizations shall be transformed through my new business venture and the business firm shall not only operate locally but shall also expand with time and operate internationally as the idea of setting branches in various towns in Europe is in mind to ensure the success of many organizations in the entire Europe enhancing the economic development of various European countries.

Testing on the idea

The human resource experts tested the idea by sending the successful applicants for the job to various organizations where there skills were assessed and some of them never performed well due to inadequate practical skills and were recommended for further training for future consideration by the organization and those who showed splendid performance were fully employed by the organizations.

Idea implementation

The idea is what is evident in this business proposal which is going to describe the business idea in details for approval after which the business shall be established.