Strategic management of people through HR programs and policies helps to ensure organizational outcomes such as: Organizational survival profitability customer satisfaction and employee performance. HR Professionals have been criticized for not understanding and using language of business when discussing the value of the HR Programs. STRATEGY: the formulation of organizational missions goals objectives and action plans for achievement that explicitly recognize the competition and the impact of outside environmental forces Future direction and performance targets Strategic planning=rationale process Ends are measure bale Resources are allocated to achieve ends THE FIVE P?S OF STRATEGY BY MINTZBERG 1. Plan: anHR is staffed with nice people intended course of action a firm has selected to deal with a situation 2. Purpose: a consistent stream of actions that sometimes are the result of a deliberate plan and sometimes the result of emergent actions based on reaction to environmental changes or shifting of assumptions 3. Ploy : a specific maneuver at the tactical level with a short time horizon 4. Position: the location of an organization relative to its competitors and other environmental factors 5. Perspective: the personality of the organization DESCRIPTIONS OF STRATEGY Strategy: a declaration of intent Strategic intent: a tangible corporate goal a point of view about the competitive positions a company hopes to build over a decade Strategic planning: the systematic determination of goals & the plans to achieve them Dynamic process moving shifting & evolving as conditions warrant changes Objectives: the end the goals make-it-or-break it! Plans: the product of strategy the means to the end Strategic plan: a formal written statement that outlines the future directions and goals of an organization including long-term performance goals/targets Policies: broad guidelines to action which establish the parameters or rules Strategy formulation: the entire process of conceptualizing the mission of an organization identifying the strategy and developing long-range performance goals Strategy implementation/ execution: those activities that employees and managers of an organization undertake to enact the strategic plan to achieve the performance goals STRATEGY TIMEFRAMES strategic planning=thinking about the futurethe future is unpredictable planning horizon commonly 3-5 years plans must be flexible enough to cope with changes that appear STRATEGIC TYPES **different org strategies require different HRM strategies (policies and practices) 1. Corporate strategies: Overall strategy for organization and businesses or interests Usually focus on long-term growth and survival goals Typically represented in the mission statement? Is key to attracting investors as it examines and questions about which competitive strategy to choose from 2. Business Strategies (LOB) a. Focus on one line of business as opposed to overall organization b. Plans to build a competitive focus with supporting action plans in one line of business 3. Operational Strategies a. Resources processes people and how they are organized to support the Corporate and LOB strategic direction”
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