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: an 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 Business plan on The Strategic Marketing Process: Organizational Decision-Making
... strategy. Strategic Marketing Process: The Control Phase The control phase of the strategic marketing plan is the part of the plan ... Analysis examines strengths and weaknesses of organizational market growth rate and relative ... department. There are, however, uncontrollable environmental factors made up of social, ... plan into action, and revising the plans, if necessary, the basis of the Strategic ...
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 future,the 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
