Richer Sounds

1. Discuss to What extent does Richers offer useful lessons for other organisations in terms of its approach to HRM and to what extent is their approach replicable?
2. Critically evaluate whether the Richer’s Way of managing people would be effective in the Barbados
Submitted on January 04, 2011 Word Count 2475
No. Z0923915
1
Table of Contents
Page
1. 0 Introduction ………………………………………………… 2
2.0 Preview ……………………………………………………... 2
3.0 High commitment Management ……………………………..2
3.1 Resource Based Value ……………………………………… 5
4.0 Discussion …………………………………………………... 6
5.0 Conclusion …………………………………………………..11
6.0 Bibliography ………………………………………………...12
List of Figures
Figure 1: Some key areas considered in HCM modeling….……..4
2
1.0 Introduction
With the Guinness Book of records highest sales per employee and sales value per square foot, a five-star rating and #1 High Street shop survey ranking from Which?
Magazine; Richer Sounds Plc (RS) is the largest high fidelity (hi-fi) and home theatre equipment company in the UK. Richer Sounds is an unlisted public limited company, wholly owned by Julian Richer, and there are currently fifty-two branches nation wide, each approximately 200sqft in floor area and located off the main high streets. The company had an annual sales turnover of £116.2 million in 2009 with pre-tax profits of £3.4million. Bloomberg (2010), Redman (2010), Richer Sounds (2010)
2.0 Preview
This essay will analyse the Resource Based View (RBV) and High Commitment
Management (HCM) Human Resource (HR) models and apply them to the practices at Richer Sounds, then discuss any useful lessons for other organisations, and how replicable their approach is.
Secondly, this essay will give various points of view about whether the Richer’s Way of managing people could be effective in Barbados.
3.0 High Commitment Management
According to Redman (2001) the Best fit model of Human Resource Management
(HRM) is dependent on how HR practices align with

Bibliography: Barney J. 1991 ‘Firm Resources and Sustained Competitive Advantage,’ Journal of Management 1991, Vol 17 No Holtom B. Mitchell T. Lee T. 2006 ‘Increasing Human and Social Capital by Applying Job Embeddedness Theory, Organizational Dynamics,’ Vol Huselid M. Becker B. 1996, ‘Methodological Issues in Cross-Sectional and Panel Estimates of the Human Resource- Firm Performance Link’ Accessed 28/12/2010 Huselid M.Becker B. 1997, ‘The Impact of High Performance Work Systems, Implementation effectiveness and alignment with Strategy on Shareholder Wealth’ Monks K, Loughnane M. 2006, ‘Unwrapping the HRM bundle: HR system design in an Irish Power Utility, International Journal of Human Resource Management’ Pg Torrington D. Hall L. Taylor S. 2001, Human Resource Management, Accessed 23/12/2010 Truss C. 2001, Complexities and Controversies in linking HRM with Organisational Outcomes, Journal of Management Studies, Vol 38, No The UN Refugee Agency 2009, 2008 Country Reports on Human Rights Practices – Barbados, Bureau of Democracy, Human Rights, and Labor