...Schuler and Walker define Human Resource Strategy (HRS) as “a set of processes and activities jointly shared by human resources and line managers to solve business-related problems”. I believe this definition assists on tackling the above question. However, Bamberger and Meshoulam “Conceptualise human resource strategy as an outcome: the pattern of decisions regarding the policies and practices associated with the HR system”. In my view, HRS is a set of ‘processes and activities’ that when implemented, result in an outcome. In aim to justify this statement by discussing the topic of human resource strategy in relation to the sub-headings listed above. By examining the reasons or ‘rationale’ for the emergence of human resource strategies in the modern business environment, the value, various strategy approaches, types and the concept of fit, I believe I can underline the importance of a well devised HRS to any overall business strategy or plan. Modern businesses and the economic environments in which they operate are very different from the organizations and economies examined by Chandler in his studies of ‘managerial capitalism’ (late 19th Century through to the 1970s). The development of technology, and the creation of global economies have resulted in a significant increase in efficient and effective competition within all industries operating in market economies. Firms con longer rely on competing aggressively simply on the reliable favorites of achieving economies of scale...
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...Strategic Human Resource Management Abstract Human resources refers to the sum of the ability to work within a certain range of the overall population; or means the sum of intellectual and physical labor ability which can contribute to the entire economic and social development. The focus of human resource management (HRM) is on managing people within the employer-employee relationship. Specifically, it involves the productive use of people in achieving the organization’s strategic business objectives and the satisfaction of individual employee needs. (Stone, 2010) The Strategic Human Resource Management focuses in the linking of all human resource activities with the organisation’s strategic objectives. (Stone, 2010) It was first developed in the late 1980s and then it has an impressively development in the following 20 years. This idea has been discussed and researched intensively, European, American and Japanese business management practices proved that it has competitive advantage to approach a long-term strategic for sustainable development. Compared to traditional Human Resource Management, Strategic Human Resource Management (SHRM) is positioned to support corporate strategic role and functions of human resource management. This assessment is to discuss the idea of Strategic Human Resource Management and the roles that a Human Resource manager will need to undertake. It is aimed to develop a comprehensive understanding of the study of Human Resource Management...
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...Chapter 1 Human Resource Management HRM Activities HRM involves the acquisition, development, reward and motivation, maintenance and departure of anorganisation's human resources. To do this successfully HRM must do all of the following: •Job analysis •Human resource planning •Employee recruitment •Employee selection •Performance appraisal •Human resource development Career planning and development •Compensation • Benefits • Industrial relations •Health and safety programs •Manage diversity What is strategy? 'Strategy defines the direction in which an organisation intends to move and establishes the framework for action through which it intends to get there.' The purpose of strategy is to maintain a position of advantage bycapitalising on the strengths of an organisation and minimising its weaknesses. To do this, an organisationmust identify and analyse the threats and opportunities present in its external and internal environments. What is strategic management? Strategic management is the process whereby managers establish an organisation's long-term direction, setspecific performance objectives, develop strategies to achieve these objectives in the light of all the relevantinternal and external circumstances and undertake to execute the chosen action plans. The aims of strategicmanagement are to help the organisation to achieve a competitive advantage and to ensure long-term successfor the organisation. Components of strategic management Strategic management involve...
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...1 Strategic Marketing, the words itself describes that it has a lot to do with technical and specific information. “Strategic marketing means looking at the whole of a company’s portfolio of products and markets, and managing the portfolio to achieve the company’s overall goals”. (Jain, 1987). “ Strategic marketing as seen as a process consisting of:analyzing environmental, market competitive and business factors affecting the corporation and its business units,identifying market opportunities and threats and forecasting future trends in business areas of interest for the enterprise ,and participating in setting objectives and formulating corporate and business unit strategies. Selecting market target strategies for the productmarkets in each business unit, establishing marketing objectives as well as developing, implementing and managing the marketing program positioning strategies in order to meet market target needs”. (Drucker, 1973) Its role is to direct the firm or company towards attractive economic opportunities. The opportunities that are adapted to resources and knowledge and offer a potential for growth and profitability. Strategic marketing includes the way to reach the customers with products and services. It provides competitive advantage by considering segmentation, branding, marketing messages, and positioning. With segmentation, firm can concentrate specifically to particular market as per their buying behavior or lifestyle. As a result, it saves time and money...
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...Unit 6.1 Human resource Management Table of Content Content............................................................................................................................Page Introduction....................................................................................................................3 LO 1................................................................................................................................3 Strategic Human Resource Management........................................................................3 Strategic Human Resource Management Model............................................................4 Importance of SHRM.....................................................................................................4 Framework of SHRM.....................................................................................................5 LO2.................................................................................................................................8 HRM process..................................................................................................................8 Roles in SHRM..............................................................................................................9 Development and implementation of HRM strategies..................................................10 LO 3............................................................................................
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...address your workforce issues 8 4.5 Provide a sound basis for effective implementation 9 5 WORKFORCE PLANNING CHECKLIST 10 5.1 Key considerations for effective workforce planning 10 6 UNDERPINNING KNOWLEDGE FOR WORKFORCE PLANNING 12 Introduction Workforce planning is the continuous process of ensuring that the right people are in the right place at the right time, in order to accomplish the organisation’s mission now and into the future. Its fundamental purpose is to align and integrate the organisation’s workforce with its strategic goals and objectives. The degree to which the organisation has the appropriate skills, the correct numbers and the right talent mix to achieve its mission in a dynamic external environment will be crucial to its continued success. It is also about the sound management of human capital processes, including recruitment, retention, development, redeployment, and retirement planning for minimal loss of knowledge. Workforce planning can assist TAFE Institutes anticipate the staffing and skill requirements of the changing VET environment. This is essential if the TAFE sector is to adequately meet the changing demands of its operating environment and specific markets. Some Institutes are already taking action to shape their future workforces, thus ensuring their continued ability to deal with business challenges in the medium to longer-term. A range of approaches and...
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...Abstract Human resources refers to the sum of the ability to work within a certain range of the overall population; or means the sum of intellectual and physical labor ability which can contribute to the entire economic and social development. The focus of human resource management (HRM) is on managing people within the employer-employee relationship. Specifically, it involves the productive use of people in achieving the organization’s strategic business objectives and the satisfaction of individual employee needs. (Stone, 2010) The Strategic Human Resource Management focuses in the linking of all human resource activities with the organisation’s strategic objectives. (Stone, 2010) It was first developed in the late 1980s and then it has an impressively development in the following 20 years. This idea has been discussed and researched intensively, European, American and Japanese business management practices proved that it has competitive advantage to approach a long-term strategic for sustainable development. Compared to traditional Human Resource Management, Strategic Human Resource Management (SHRM) is positioned to support corporate strategic role and functions of human resource management. This assessment is to discuss the idea of Strategic Human Resource Management and the roles that a Human Resource manager will need to undertake. It is aimed to develop a comprehensive understanding of the study of Human Resource Management. Thompson and Strickland define strategic...
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...Table of Contents 1.0 Introduction 2.0 Strategic Analysis 2.1 The Strategic Management Process 2.2 Stages of the Strategic Management Process and Contribution to Strategic Management Process 2.3 Definition of Strategic Analysis and Component 2.4 Techniques for Analyzing the External Environment 2.5 Techniques for Analyzing the Internal Environment 2.6 Roles of SWOT Analysis in Strategic Analysis 3.0 Strategy Formulation, Evaluation and Choice 3.1 Strategy Formulation stage and Contribution to Three-stage Strategic Management Process 3.2 Key Differences between Business Strategy and Corporate Strategy 3.3 Implications of Differences for Strategy Formulation 3.4 Key Differences between the Market Positioning and Resource-Based Strategy 3.5 Strengths and Weaknesses of Porter’s Generic Strategies 3.6 Resource-Based Approach Implications for Business strategy 3.7 Industry Lifecycle and Market Turbulence Implications for Business Strategy 3.8 Corporate Level Strategy Decisions 3.9 Relevant Growth Strategies to Qatar Airways 3.10 Advantages and Disadvantages of Related and Unrelated Diversification 3.11 Important Strategies to Qatar Airways 3.12 Portfolio Analysis 3.13 Aspects of International Strategy that are Relevant to Qatar Airways 3.14 International Strategies that are Appropriate 3.15 Market Penetration Strategies that are Appropriate 3.16 Evaluation Technique of Best Strategy to Adopt 4.0 Strategy...
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...HUMAN RESOURCE PRACTISE EFFICIENCY IMPACT OF IMPLEMENTATION HRMS IN TENAGA NASIONAL BERHAD (TNB) -THE CASE STUDY- Abstract Although there is no official link connecting organizational performance and HR practices, there is still that link. It does not matter the lack of a physical connection, so as long as the connection does exist. Firstly, managing people the right way helps any organization achieve improved performance over time. When organizations manage their people well, the organization's performance itself will also improve over time. But if organization wants a more tangible basis for measuring HR performance and efficiency, then here are some commonly used metrics for that purpose. HR management starts with selection and recruitment. When a company has vacant positions, it will look for applicants for that position, in the hopes of finding the best one to suit the job. The measurement dimension to look out for here then is the level of sophistication that the processes of recruitment are at. Are the selection and application processes up to par? Do they come with appropriate psychometric tests? Does the department make use of clear criteria when it comes to selecting qualified people from its pool of applicants? Are the interviews as structured as they should be? The next process to look into is induction and training. Induction is the process of officially introducing newly hired employees into the company or the organization. Metrics here would still pertain...
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...PES INSTITUTE OF TECHNOLOGY PERSONNEL QUALITY MANAGEMENT Term Paper DEEPAK.M.S (1PI11MBA47) 4/23/2012 CONTENTS 1) Introduction -------------------------------------------3 2) Objectives pertaining --------------------------------4,5 3) Sources of data collection ---------------------------6 4) Review of literature ----------------------------------7 5) Findings ------------------------------------------------8 6) Conclusion ---------------------------------------------9,10 7) Recommendations -----------------------------------11 PERSONNEL QUALITY MANAGEMENT Introduction: A precursor to present day human resource management, personnel administration and personnel management were popular terms that emerged in the late 1960’s and 1970’s. Personnel people need to wear many hats while managing the show. They have to translate the corporate philosophy into concrete action plans without ignoring employee interest and concerns. paper qualifications do not mean much in such a scenario. To get ahead, the personnel man needs qualities of head and hear in equal measure Personnel Management is concerned with people at work and their relationships with each other. It may be defined as a set of programs, functions and activities designed to maximize...
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...the meaning of strategic human resource management and identify the factors impacting on strategic human resource management in contemporary organisations. Before an argument can be put in place about whether human resource management (HRM) can be strategic, we need to be aware that human resources (HR) is more then maintaining personal functions. Corporate and economic developments since the 1950Ў¦s have dictated that businesses, to remain competitive, need to view HRM as an evolutionary process which combines the HR functions with the HR policies and strategies, with the business strategies and management teams, with all stakeholders (Unions and Governments) and with the organisation and understanding of the actual employees themselves. Strategic HRM is about aligning the abilities and desires of the employee with the needs of the business so that the corporate objectives can be met. HRM can no longer afford to be viewed as simply an administrative task. Corporations need to have ÐŽÒproactiveЎ¦ policies to attract and retain the right type of people to their business and in this ever changing and uncertain economic climate the management of employees takes on an even greater role. Using the VIRO (value, rareness, imitability, and organisation) human resources can be proven to be strategic and therefore, provide firms with a competitive advantage through its people. The article by Barney and Wright (On becoming a strategic partner: The role of human resource management in...
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...Resource Management Strategies Name Professor Institution Course Date Introduction The strategies refer to the process of executing a strategy for implementing essential management objectives for managing and allocating resources. The strategies involve approaches and move patterns devised by a grouping to produce achieving organization performances. As such, it is a resource commitment to accomplishing precise objectives for justifiable benefits in the market. An outstanding strategy is insignificant pending execution. Accordingly, execution requires appropriate resources, role flexibility, and infrastructure. Consequently, strategic management ought to finish with the concluding yearly planning meeting even though periodic monitoring and execution are necessary. As such, the process commences with an apparition of wherever the organization should head. An unsurpassed means of accomplishing the desired outcomes will be making sure that the procedure chosen to guide the planning efforts is comprehensive. The hardest parts include committing resources, creating time, addressing and uncovering the obstacles even though the process is controllable. The human resources of an organization are probably its mainly fundamental ingredients for achievement. Devoid of employees, the majority of commercial ventures would stop existing. Accordingly, strategic management entails strategic utilization of resources in order to meet purposes. The HRM encompasses the capacity of making...
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...basic objective of the co or enterprises are achieved. CORPORATE STRATEGY/ STRATEGIC MGMT: It focuses on how managers formulate and implement, and evaluate strategies or plans aimed at developing and maintaining competitive advantage. Here competitive advantage means “the reason some firms enjoy higher levels of performance than their rivals or competitors” FEATURES OF STRATEGY: It includes planning & implementation. It is creative in nature. It is a dynamic & flexible program. It includes all the levels of Org. but maximum efforts are done by Top & Middle Mgmt. Its Life Span is Limited. It is Future Oriented or Forward Looking It offers Broad Guidelines or blueprints to be successful. Strategy is a well defined roadmap of an organization. (mission & Vision are defined). COMPONENTS OF STRATEGY: The strategy statement of a firm sets the firm’s long-term strategic direction and broad policy directions. It gives the firm a clear sense of direction and a blueprint for the firm’s activities for the upcoming years. The main constituents of a strategic statement are as follows: a) STRATEGIC INTENT(PLAN/TGT/GOAL) An organization’s strategic intent is the purpose that it exists and why it will continue to exist, providing it maintains a competitive advantage. Strategic intent gives a picture about what an organization must get into immediately in order to achieve the company’s vision. It motivates the people. It clarifies the vision of the vision of the company. Strategic intent...
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...ACHIEVING THE GOALS AND OBJECTIVES OF ANY STRATEGY IS AN ILLUSION. DISCUSS 1.0 INTRODUCTION Every business organisation exists for the purpose of fulfilling certain goals and objectives as outlined by them. The fulfillment of these goals and objectives may bring benefits to the organisation and to various stakeholders such as shareholders, customers, the general public, the government, etc. In order to implement these goals and objectives in a systematic and orderly manner, management must evolve a game plan to do this. This game plan is known as strategy. According to the Oxford Pocket Dictionary, strategy is defined as “the art of war especially, the planning of movements of troops and ships into favourable positions, plan of action or policy in business” Scholes & Johnson (2001) also define strategy as “the direction and scope of an organisation over the long term; which achieves the advantage for the organisation through its configuration of resources within a changing environment, to meet the needs of the markets and to fulfill stakeholder expectations” Thompson & Strickland (1998) also generally define strategy as competitive moves of business approaches to produce successful performance. It is management’s game plan for: * running the business * strengthening the firm’s competitive position * Satisfying customers * Achieving good business performance * Position a company in its chosen market In effect, without strategy the shaping...
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...ITS IMPACT ON ORGANIZATIONAL EFFICIENCY LITERATURE REVIEW Performance management comprises all activities that guarantee that organizational objectives are constantly being attained in an efficient and effective manner. Normally, performance management focuses on the organizational performance, employees, departments and to some extent the processes that are usually employed to build a service or product, as well as other key areas of an organization (Izadpanah et al., 2012). In this competitive market, every company want s upgrades their marketing strategies and prepares their business mission and vision in order to carry out their business in the long run. In the age of rapidly changing competition and technological advances, the business process is interwoven with some hard realities. These challenges are manifested in competitions from volatile and unknown entity from an unknown corner of the world, unstable customers’ preferences, stringent labour laws, international standards and swift economic and political changes. All these taken together, compel the corporate world to work in a war zone to acquire and retain more customers and stabilize their business (Pradhan et al., 2012). A performance management system is the key factor used in determining whether an organization can manage its human resources and talent effectively. Performance management provides information on who should be trained and in what areas, which employees should...
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