...Strategic management, corporate responsibility and stakeholder management Integrating corporate responsibility principles and stakeholder approaches into mainstream strategy: a stakeholder-oriented and integrative strategic management framework Takis Katsoulakos and Yannis Katsoulacos Takis Katsoulakos is a Director at INLECOM Ltd, Burgess Hill, West Sussex, UK. Yannis Katsoulacos is a Professor at Athens University of Economics and Business, Athens, Greece. Abstract Purpose – The purpose of this article is to establish a strategic management framework that supports the integration of corporate social responsibility principles and stakeholder approaches into mainstream business strategy. Design/methodology/approach – A top-down and bottom-up approach was used to develop the proposed framework. The top-down approach focused on analyzing the main strategic management theories including social responsibility movements to identify complementary concepts and create a relevant topology. The bottom-up approach was based on empirical research on the views of business companies on corporate social responsibility, a review of best practices and case studies mainly in Greece. Findings – The paper describes a stakeholder-oriented integrative strategic management framework linking the main strategic management theories across value, responsiveness and responsibility dimensions. A mathematical model is presented describing the synergistic development of advantage-creating knowledge and...
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...the organization achieve its competitive advantage. Changes in the environment such as widespread globalization, rapid technology and other such factors have led to organizations realizing the significance of controlling human resources in a firm. Since organizations have also become more dynamic and complex, the need to manage human resources has become more essential. In recent years, many individuals demanded for a more strategic approach to managing people in a firm, rather than the traditional methods, and thus the idea of strategic human resource management (SHRM) was adopted. Strategic human resource management is a branch of human resource management, and it can be defined as ‘ the linking of human resources with strategic goals and objectives in order to improve business performance and develop organizational culture that foster innovation, flexibility and competitive advantage.’ (Sinha, R 2007). This essay is going to focus on how strategic human resource management helps organizations achieve a sustained competitive advantage. Sustainable competitive advantage is the position a firm develops in relation to its competitors that are not duplicable an unsurpassable than its competitors. Recently scholars have come to the basis of HR skills and competences as sources of competitive advantage. Human resource practices as well as competitive strategies are based on the assumption that employee behaviors are needed for each type of competitive strategy and that these behaviors...
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...of the most pressing challenges facing countries and businesses in today's global business environment. Globalization represents the structural making of the world characterized by the free flow of technology and human resources across national boundaries as well as the spread of Information Technology (IT) and mass media presenting an ever-changing and competitive business environment. Two major limitations are observed in the treatment of the twin issues of the responses to the East Asian economic crisis and the coverage of the literature on globalization. While the response to the crisis has focused on macroeconomic aspects, the issue of globalization has been addressed predominantly in and with respect to the developed economies of Western Europe, North America and Japan. This paper is an attempt to address these two limitations. Since the human factor is the key in the new era of globalization (Hassan, 1992; Sims & Sims, 1995), the primary objective of this paper is to present a conceptual framework for effective management of human resources as a response to the growing interaction of globalization and business performance. Three central arguments are made in this paper. (1) That a growing body of evidence converge to suggest that changes taking place in the global business environment often are not accompanied by complementary changes in human resource management practices leading to a situation whereby the failure of some firms is due to the mismanagement of people rather...
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...AFT3073 – RESEARCH METHODOLOGY |GROUP ASSIGNMENT (25%) – RESEARCH TERM PAPER TOPICS | |Current Strategic Management Issues | |This course assignment is a term paper on current strategic management issues. Possible themes/issues for your research term paper | |include (but are not limited to) the following: | |Ethics and Corporate Citizenship Themes | |Understandings of corporate citizenship | |Links between ethics and corporate citizenship | |Performance measurement | |Accountability and governance | |Stakeholder engagement, consultation, reporting and governance | |Corporations, territory and governance ...
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...Strategies on Performance by Raduan Che Rose, PhD, and Naresh Kumar, PhD T oday a firm’s success largely depends on the capabilities of its members. Firms may have the capital and technology, but it is Human Resources (HR) that will help firms face the challenges of business globalization. Capital can be generated. So can technology. But the HR required to propel an organization through the coming challenges must be rightly and appropriately encouraged and motivated. Significantly, these days careful management of this important resource calls for a strategic focus on Human Resource Management (HRM) in the organization. Previous research on HRM widely accepted that employees create an important source of competitive advantage for firms (Barney, 1991; Pfeffer 1994). As a result, it is important that a firm adopt HRM practices that make best use of its employees. This trend has led to increased interest in the impact of HRM on organizational performance, and a number of studies have found a positive relationship between so-called “high-performance work practices” (Huselid, 1995) and different measures of company performance. Furthermore, there is some empirical support for the hypothesis that firms, which align their HRM practices with their business strategy, will achieve superior outcomes (Bae & Lawler, 1999). However, a review of the literature indicates a serious lack of large-sample empirical studies designed to investigate whether extensive use of “high-performance” HRM practices...
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...OF INFORMATION TECHNOLOGY IN THE CREATION AND MAINTENANCE OF SUSTAINABLE COMPETITIVE ADVANTAGE A. Talebnejad[1] Faculty of Management and Accounting Shahid Beheshti University Email: taleb149@yahoo.com Abstract -By the appropriate use of information technology, organizations can achieve sustainable competitive advantages. This technology because of including some characteristics such as being up-to-date, fast and precise and having different geographic localities all the time, has improved organizational efficiency, effectiveness and performance. In this article, we intend to investigate the role and effect of information technology in the creation and maintenance of sustainable competitive advantages from two different approaches: market-based approach and the resource-based approach. In the Market-based approach, meeting customer's and creating values for them, using information technology and the issue of achieving the competitive advantage and position in the market by organizations are addressed. In the resource-based approach, compatibility of the organization's resources such as those of information technology and organizational skills, particularly managerial ones are investigated. Amongst different organizational skills and resources, only managerial skills of information technology can create a sustainable competitive advantage. Keywords: Information Technology, Sustainable Competitive Advantage, Creation of Value for Customers, Resource-Based Approach, Market-Based...
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...a particular field - Abilty to use its µS¶ & µW¶ to exploit µO¶ & face µT¶ in its external environment Organization resources - Physical & human cost, availability - strength / weakness ORGANIZATIONAL APPRAISAL Organization behaviour Identity & character of an organization leadership, Mgt. Philosophy, values, culture, Qly of work environment, Organization climate, organization politics etc. Resource Behaviour Distinctive competence - Any advantage a company has over its competitor - it can do something which they cannot or can do better - opportunity for an organization to capitalize - low cost, Superior Quality, R&D skills etc. METHODS & TECHNIQUES USED FOR ORGANIZATIONAL APPRAISAL Comprehensive, long term Financial Analysis - Ratio Analysis, EVA, ABC Key factor rating - Rating of different factors through different questions Value chain analysis VRIO framework METHODS & TECHNIQUES USED FOR ORGANIZATIONAL APPRAISAL « BCG, GE Matrix , PIMS, McKinsey 7S Balanced Scorecard Competitive Advantage Profile Strategic Advantage profile Internal Factor Analysis Summary SWOT ANALYSIS Identify & classify firm¶s resources-S&W Combine firm¶s strength into specific capabilities ± Corporate capability- may be distinctive competence Strategy that best exploits the firms resources Identify resource gaps & Invest in upgrading ORGANIZATIONAL APPRAISAL Organizational Capability Profile (OCP) - Weakness(-5), Normal(0), Strength(5) Financial Capability Profile (a)...
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...chapter two Strategic human resource management John Bratton If a global company is to function successfully, strategies at different levels need to inter-relate.1 Throughout the first half of our century and even into the early eighties, planning – with its inevitable companion, strategy – has always been a key word, the core, the near-ultimate weapon of ‘good’ and ‘true’ management. Yet, many firms, including Sony, Xerox, Texas Instruments, …have been remarkably successful… with minimal official, rational, and systematic planning.2 Chapter outline Introduction p. 38 Strategic management p. 38 Hierarchy of strategy p. 42 Strategic human resource management p. 46 HRM and organizational performance p. 60 Chapter objectives After studying this chapter, you should be able to: 1. Explain the meaning of strategic management and give an overview of its conceptual framework. 2. Describe the three levels of strategy formulation and comment on the links between business strategy and human resource management. 3. Explain the two models of strategic HRM, the matching model and the resourcebased model. 4. Comment on the various strategic HRM themes of re-engineering, workplace learning, trade unions and leadership. 5. Explain the methodological difficulties of measuring the link between HRM practices and organizational performance. 38 The Nature of Human Resource Management Introduction In the first chapter we examined the theoretical debates on the nature and significance...
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...prime examples of major competitors in the beverage industry and strive to be different although each company produces a similar product. With the popularity of these corporations at the zenith of existence, each one needs to develop and maintain a competitive advantage that will yield results to their favor. For the purpose of gaining a competitive advantage measurement guidelines will need to be implemented to cultivate effective strategic planning and measure the effectiveness of each plan. The intention of this study will be to examine each cola giant in order to describe the internal and external environments of each one and develop an understanding of how each company uses environmental scanning. Furthermore, a discovery of competitive advantages will be uncovered by examining strategies, such as creation of value and sustain, measurement guidelines, and the effectiveness of the measurement guidelines used by each company. Environmental Scan The environmental scan of Pepsi and Coca-Cola will involve monitoring, evaluating, and disseminating of information from the external and internal environments to the key people within the corporations (Wheelen, 2010). An addition, each company will need to evaluate current performance results, review corporate governance, scan and assess the external and internal environment, analyze the SWOTT factors, in order to develop the best strategy to implement and evaluate. Potential threats, opportunities for Pepsi and Coca-Cola will be...
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...Bibliography 21 List of Figures Figure 1: Model of effective Performance Management Process 5 Figure 2: Steps and Responsibilities in the Career Management Process 9 Figure 3: Strategy - decisions about competition 15 List of Tables Table 1: HR Practices utilized by Marks & Spencer to address strategic needs 17 Question 1: In an industry where competition is intense, developing staff has probably never been so important. By training and developing its staff, discuss how Marks & Spencer is in a position to develop a competitive advantage over its competitors. Introduction A competitive advantage is a superiority that an organization can gain over its competitors by providing the same value at lower prices or charging higher prices for providing greater value through differentiation, Business Dictionary (2015). Grobler et al (2011:9) noted that in the past the focus of Human Resources (HR) was an administrative one (traditional HR) with focus on personnel issues, more recently HR has been recognized as being contributory to the organization’s overall strategy. HR is therefore an integral part of achieving competitive advantage. One such HR practice that enables competitive advantage is in training and development of its staff. Noe et al (2012:98) noted that in the knowledge economy it is the organization’s intangible assets which provide for competitive advantage. A company’s intangible assets comprise human capital, intellectual capital...
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...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 Strategy formulation - selecting an organisation's mission, or purpose, andkey objectives; analysing the organisation's internal and external environments;...
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...and motivated Controlling – monitoring activities to be sure goals are met 2. What is Human Resource Management? Definitions: . • Human Resource Management (HRM) is a subset of the study of management that focuses on how to attract, hire, train, motivate and maintain employees. Strong employees become a source of competitive advantage in a global environment facing change in a complex ways at a rapid pace. DeCenzo et al (2010:1) • "Human resource/personnel management may be defined as the planning, organizing, directing and controlling of the procurement, development, compensation, integration and maintenance and separation of human resources to the end that individual, organizational and societal objectives are accomplished." Edwin B.Elippo • ‘All those activities associated with the management of employment relationships in the firm’ Boxall and Purcell (2003: 1) • ‘The management of work and people in organizations’ Boxall et al (2007.7) HRM as ‘an inevitable process that accompanies the growth of organizations’ Boxall and Purcell (2010: 29) • The policies, practices, and systems that influence employees’ behavior, attitudes, and performance. Noe et al (2011.1) HRM covers activities such as • human capital management, • knowledge management, • organization design and development, • resourcing (workforce planning, recruitment and selection, and talent...
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...have all the required experience in HR management, but failed to provide him with adequate training. John was not given sufficient time to settle into the new position and solve existing staff problems, as he was given new tasks to do. Lastly there is an issue with the employees approximately half of the staff he has inherited do not ‘make the numbers’ in performance and some do not ‘live the values’. The staff seems to be unmotivated, undervalued and not properly managed. 2. Advise John about the practical aspects of theories that you think are relevant (e.g. best practice, best fit, RBV) in relation to building and growing people and improving business performance; An appropriate theory that would be useful to John in building and growing people and improving business performance is the RBV. The importance of this theory is on achieving sustainable competitive advantage by means of effective and efficient use of the resources of an organisation (Barney, 1991). Resource-based theory directed to a change in strategic management thinking from an `outside-in’ approach with an emphasis on external, industry-based competitive issues (Porter, 1980) to an `inside-out’ approach (Baden-Fuller and Stopford, 1994), in which internal resources constitute the starting point for understanding organisational success (Barney, 1991). This theory could assist John in resolving his staff issues as it just focuses on internal resources which include the...
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...human resource management: uneasy bedfellows or strategic partners? John Purcell University of Bath Bath BA2 7AY 01225 386567 J.Purcell@bath.ac.uk 1 Business strategies and human resource management: uneasy bedfellows or strategic partners? One of the assignment questions for this year’s class studying ‘Strategy and Human Resource Management’ (a very popular course) was: Does, and should, competitive strategy determine the design of a firm’s HR system? Give illustrations to support your answer. One of the great advantages in working in a university which has top students is that you can ask them questions you are not quite sure how to answer yourself! The best students gave clear examples of such a link and then got stuck in to the ‘should’ part of the question often noting the critical difference between competitive strategy and business strategy. Some even went further into corporate strategy, the resource based, and knowledge based view as well as ethics, culture and institutional setting. Surprisingly none of them questioned what was meant by a firm’s HR system. I will follow the same line of argument in this paper with thanks to the students, very few of whom have any intention of becoming HR professionals. We start with some of the classics in strategy and HRM, go on to look briefly at some major studies, or the ones that have influenced my thinking. Thereafter the paper notes the problems with the assumed link with competitive strategy as a dominant, or the dominant, force...
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...Electronic Submission Coversheet * Please complete and insert this form as the first page of your electronic submission. * Submit the assignment with attached coversheet electronically through the Wolf E-submission gateway * Please make sure you keep a copy of your assignment. Student Details Surname | ADEYEYE | Given name | BABATUNDE .K. | Student Number | 1015631 | Email | meet_tunashi@yahoo.com | Assignment Details Module name | Managing Human Resources | Module Code | 7HR011 | Managing Human Resources | | 7HR011 | Dr Anosike. U. Paschal | Due date | 8/01/12 | | Assignment title | Task 2 | All forms of plagiarism, cheating and unauthorized collusion are regarded seriously by the University and could result in penalties including failure in the unit and possible exclusion from the University. If you are in doubt, please read the following web page. Student’s Declaration By submitting this assignment I SIGNAL & DECLARE my knowledge and agreement to the following: - Except where I have indicated, the work I am submitting in this assignment is my own work and has not been submitted for assessment in another unit or for any other purpose. This work conforms to the instructions and submission guidelines as contained in the assessment briefing and the module guide respectively. This submission complies with University of Wolverhampton policies regarding plagiarism, cheating and collusion. I acknowledge and agree that the...
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