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PART ONE                                                               INTRODUCTION C H A P T E R T   T h r e e Strategic Human Resource  Management and the HR  Scorecard 3 Lecture Outline Strategic Overview HR’s Strategic Challenges The Strategic Management Process Types of Strategies Achieving Strategic Fit HR and Competitive Advantage Strategic Human Resource Management HRM’s Strategic Roles The Strategy Execution Role HR’s Strategy Formulation Role Creating a Strategic HRM System The High- Performance Work System Translating Strategy into Policy and Practice HR Strategy in Action: An Example Appendix B: Using the HR Scorecard Approach Creating an HR Scorecard The 10-Step HR Scorecard Process The Hotel Paris International: An Example The HR Scorecard: Improving productivity             through HRIS In Brief: This chapter explains how to design and develop an HR system that supports the company’s strategic goals. It explains the strategic management process, how to develop a strategic plan, and the HR manager’s role in the process of strategy execution and formulation. It discusses how to create a strategy oriented HR system and reviews the HR Scorecard approach to creating such a system. Interesting Issues: The Human Resource function today continues to play an increasingly visible role in the strategic planning and management process, requiring a new level of skill and competency among HR professionals. HR managers must develop measureable strategies that convincingly showcase HR’s impact on business performance. Successful Human Resource managers have adopted a perspective that focuses on how their departments can play a central role in implementing the firm’s strategy. 41
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ANNOTATED OUTLINE I. HR’s Strategic Challenges I. A strategic plan is the company’s plan for how it will match its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage. The HR strategy needs to support the company’s strategic plan. In formulating their HR strategies, HR managers must address three basic challenges: 1) support corporate productivity and performance improvement efforts; 2) employees play an expanded role in employers’ performance improvement efforts; 3) HR must be more involved in designing – not just executing – the company’s strategic plan. A. The Strategic Management Process: Strategic management is the process of identifying and executing the organization’s mission, by matching the organization’s capabilities with the demands of its environment. It consists of several related tasks: 1. Define the Business and Its Mission – Managers choose strategies to get the company from where it is to where it wants to be tomorrow. The company’s vision is a general statement of its intended direction
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This note was uploaded on 07/17/2011 for the course MBA 522 taught by Professor None during the Spring '11 term at Missouri (Mizzou).

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