Professional Documents
Culture Documents
Resources
Strategic Planning
Procedures for making decisions about
the organizations long-term goals and
strategies
Strategic Formulation
What is required and necessary in
support of human resources?
Strategic Implementation
How
will
the human resources
be
Human
Strategic
HumanResources
Resources
Strategic
Planning
Planning
allocated?
Planning
Planning
23
Figure 21
24
Strategic Vision
A statement about where the company is going
and what it can become in the future; clarifies
the long-term direction of the company and its
strategic intent
Core Values
The strong and enduring beliefs and principles
that the company uses as a foundation for its
decisions
25
Figure 22
27
Competencies
Internal
Analysis
Composition
28
Cultural Audits
Competitive Advantage
through People
Core Competencies
Integrated knowledge sets within an organization
that distinguish it from its competitors and
deliver value to customers.
valuable.
rare and unavailable to competitors.
difficult to imitate.
organized for synergy.
210
Alliance/partners
Individuals and groups with unique skills, but
those skills are not directly related to a
companys core strategy.
Example: Independent product label designer
212
SWOT analysis
A comparison of strengths, weaknesses,
opportunities, and threats for strategy
formulation purposes.
Use the strengths of the organization to
capitalize on opportunities, counteract
threats, and alleviate internal weaknesses.
213
Corporate Strategy
Growth and
Diversification
Mergers and
Acquisitions
Corporate
Strategy
Strategic Alliances
and Joint Ventures
214
Business Strategy
Value Creation
What the firm adds to a product or service by
virtue of making it; the amount of benefits
provided by the product or service once the costs
of making it are subtracted.
Low-cost strategy: competing on productivity and
efficiency
Keeping costs low to offer an attractive price to
customers (relative to competitors).
216
Figure 28
217
Organizational downsizing
Reducing headcount
HR metrics
Assess the performance of the HR function
itself
219
Operationally Proactive HR
Improves upon the design and deliver of the existing
HR basics before problems set in.
Strategically Reactive HR
Focuses on supporting the successful
implementation of the business strategy.
Strategically Proactive HR
Focuses on creating strategic alternatives.