Management Accounting For Human Resources

Assignment III

Kshitij Mittal
300850926

Submitted To: Professor Alan Dryden

Due Date: 6th August 2015

Table of Contents

Sprott Resource Corporation: An Overview..3

Strategy for Investment, Identified Goals and Profitability..4

Balanced Scorecard5

Sprott Resource Corporation: Identified Goals and Core Beliefs7

Public
Responsibility...9

1. Corporate Social Responsibility.9

2. Environment Issues..10
3. Human Rights...11
References.13

Sprott Resource Corporation: Overview

Sprott Resources Corporation, (Toronto Stock Exchange: SCP) a publicly-listed private

equity firm focuses, on natural resources with current investments in agriculture, energy
exploration, mining, energy production and services.

S.R.C is a value driven company that takes care of its investors by putting to use a
methodological process of investment. It arranges capital and manages risk by investing
in high returning sectors.

Being a business builder, S.R.C is committed in being a partner with proven managing
teams. It supports its investments via pro-active management and by providing long-term
capital. Expertise in financial, strategic and governance sectors has restored faith of
investors in S.R.C.

With a foundation in 2007, the Toronto based Canadian company is being managed by a
team that has huge experience in private equity and are supported by investment and
technical resources of Sprott Incorporation and also by its partners.

S.R.Cs management is motivated in generating long-term advanced-returns on capital for

its prestigious shareholders and at the same time keeping focus on risk-management and
real-wealth protection.

Strategy for Investment, Identified Goals and Profitability

Sprott Resource Corporation aims at studying global economic trends of various natural
resource sectors. By finding Specific Low-Risk Investment opportunities for esteemed
shareholders, the company looks to deploy capital in order to generate maximum-possible
returns on investments at lowest level of risk.

The company promises to fill a market gap by establishing a new company to utilize the
identified space of profit. With a proven track-record of joining hands with the experts in
the sector and with superior managing partners, the company works with a commitment
towards super growth and attracting investors further in its affairs.

S.R.C claims to be Industrially Energetic and looks forward to go an extra mile to

bring profits and returns for its exceptional shareholders.

Balanced Scorecard

A strategic management and planning system is used extensively in industry and

business, non-profit and organizations of government throughout the world to line up
business activities in accordance with strategy and vision of the company to progress in
external and internal communications and to monitor organizations performance against
the set goals.

Originated by Dr. Robert Kaplan and David Norton as a performance measurement

framework, it gave executives and managers an even balanced view of performance of
the organization.

Balanced Scorecard has three generations.

4 Perspective was the approach used by First Generation (now obsolete). The
perspectives were:

Financial

Customer

Internal Business Processes

Learning and Growth.

Second Generation had certain problems too. It often ignored opportunities to interfere,
to persuade goals and to anchor real and current activity of management.
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Third Generation refined the Second Generation and hence gave it even more
functionality and relevance to fulfil set objectives. Key components now included:

Strategic Objectives

Strategic Linkage Model

Perspectives, Measures and Initiatives

Balanced Scorecard is example of closed loop controller that is applied to management

for implementation of a particular strategy.

Such control mechanism requires 3 things to be effective:

Choice of Data to Measure

Expected Value for Data Setting

Ability to Make Corrective Intervention

Identified Goals and Core Beliefs

Employee Engagement
1. Developing Focus- The primary aim of the company is to develop focus
and make the employee realize what their collective goal is. Strategies to
reach such goals are then discussed and opinions to fulfil the same are
then collected, which ensures employee participation.

2.

Enhancing Motivation- To encourage employee morale- regular

workshops, training sessions and lectures are held. Questions are
encouraged and answers are immediately provided.

3. Open Levels of Communication- Communication, being one of the most

important factors in business, is handled very expediently. By opting for
open channels of communication, the company is committed to eradicate
barriers which lead to communication gap.

Personnel Development
1. Empowering Employees with Leadership Skill- Sprott Resource works not
just for its investors but also for its employees. By relying on employees
with decision making and policy crafting, the company aims to generate
leaders of tomorrow.

2. Developing Talent- By extensive training and provision of skill, the

company aims to boost the employee morale and fills them with
motivation and confidence.

3. Enhancing Quality of Life- By offering best packages and incentives, the

company aims to retain its hard-working and hand-picked employees. By
matching the competition, the organization fosters life quality of its
employees.

Productivity
1. Market Leadership- Sprott Resource aims to emerge as a top leader in the
market. With inputs from investors and meticulous policy making, the
company is moving towards its target at a fast pace.

2. Unmatched Quality- By providing unmatched service and bringing high

return, Sprott Resource aims at achieving excellence and keeping the trust
of investors safe and sound.

3. Customer Satisfaction- Investor and customer satisfaction occupies a

pivotal role in working of Sprott Resource. The only factor that builds
trust is performance of the company and hence, Sprott Resources through
its working, aims at delivering simply the best.

Public Responsibility

Corporate Social Responsibility- Business dictionaries often define CSR as "A sense of
responsibility by a company- towards society and environment in which it carries out its
operation.

By reducing pollution and contributing in perseverance of environment, businesses

express there citizenship. Some companies also contribute in social and educational
programs as a part of there CSR.

CSR pertains to certain voluntary activities by a company in order to operate in a social,

economic and environmentally favourable manner.

Government of Canada encourages companies to adopt CSR as a wing of there

operations in order to make world a better place to live. Canadian companies when
operating overseas, not just represent themselves but also depict the Canadian way of
living, and hence adopting CSR as a part of working raises the level of the nation to new
heights and at the same time contributes in betterment of society.

Sprott Resource, by virtue of its policies and undertakings aims and continues to deliver
back to the society under its Corporate Social Responsibility Scheme. Being involved
in mining, the business understands the degradation of environment that can result
because of its activities.

Environmental Issues- Mining companies are engaging more and more in CSR
programs.

Since mining involves digging into earth for minerals, a large number of environmental
concerns arise too. In order to compensate the loss of top soil and other environmental
pollution, a large number of mining companies are now engaging themselves more and
more into CSR related to environment.

Corporate Social Responsibility programs are means by which mining companies

actively give back to the society.

CSR programs prove beneficial for both - companies as well as the people of the
community.

Builds better relations with local community and hence delays in project are
avoided

Helps in generation of a brand that cares for the community and aims at giving
back to the society. Thus, goodwill is created in market which ultimately helps the
company in long run.

Socially responsible companies are expected to work with the government and
hence give the companies a much needed boost.

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Sprott Resource aims to conduct its activities in the least hazardous manner. The nature
of work however, at times, results in loss of top soil but under its Environment Scheme,
the area affected is fully restored, once the operations in such region are concluded.

Human Rights- Discrimination is considered to be an action that treats a group or a

person differently (negatively) because of reasons such as Sex, Colour of Skin or
Disability etc.

Sprott Resource, being based in Toronto is covered under Ontario Human Rights
Code and hence follows the guidelines in the strictest manner. By giving equal
employment opportunities and by tolerating absolutely no amount of discrimination, the
company aims to foster growth and unity.

The reasons are known as Grounds of Discrimination. Federal Government

Employers /Service providers and even that of Private Companies which are under
federal government, cannot prejudice against individuals on the following grounds.

11 Grounds Protected Under the Canadian Human Rights Act

Race

National or Ethnic Origin

Colour

Religion

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Age

Sex

Sexual Orientation

Marital Status

Family Status

Disability

A Conviction for which pardon has been granted

There are many ways by which a person can be discriminated. These practices under The
Canadian Human Rights Act are called Discriminatory Practices.

The listed discriminatory practices are forbidden by the Canadian Human Rights Act

Refusal of employment or treating someone unfairly in the workplace.

Following practices that deny people of employment opportunities.

Paying women and men differently for the work of the same value.

Striking back against someone who has filed a complaint with the Commission

Harassment

Refusal to Accommodate

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References

Electronic Sources

Financial Reports: Sprott Resource Corporation, Retrieved From:

http://sprottresource.com/investors/financial-reports/

Annual Information Form March 3. 2015: Sprott Resource Corporation,

Retrieved From: http://sprottresource.com/media/20006/src-aif-2014.pdf

Articles

Nicole Fallon (1st July, 2015) 22 Great Examples of Socially Responsible

Businesses. Retrieved From: http://www.businessnewsdaily.com/5499-examplessocially-responsible-businesses.html

Julie Symth (8th June, 2015) Canadas Top 50 Socially Responsible Corporations
2015. Retrieved From: http://www.macleans.ca/economy/business/canadas-top50-most-socially-responsible-companies/

Tima Bansal (14th August, 2014) Dont Confuse Sustainability with Corporate
Social Responsibility. Retrieved From: http://www.huffingtonpost.ca/iveybusiness-school/sustainable-business_b_5678831.html

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