Lecture 02 W. 2. HRM Strategy and Analysis.pdf - Human...

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Human Resource Management Strategy and Analysis Jehanzaib W. Gadgore [email protected]
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Factors affecting HRM in global markets
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Strategic Management Process
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Strategic Planning 1. Define the current business o What products do we sell ? o Where do we sell them ? and o How do our products or services differ from our competitor’s ? For example Rolex and Casio both sell watches. Rolex sells a limited line of expensive watches. Casio sells a variety of relatively inexpensive but innovative specialty watches with features like compasses and altimeters.
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2. Perform internal and external audits o Are we heading in the right direction? Prudent managers periodically assess what’s happening in their environments. Managers need to audit both the firms environment, and the firms strengths and weaknesses.
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Environmental Scanning
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SWOT Matrix with generic examples
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3. Formulate a new direction On the basis of environmental scan and SWOT analysis, what should our new business be? in terms of what products we will sell? where we will sell them?
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