week 5 - 1 Strategy and Human Resource Management Topic 5 L...

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Unformatted text preview: 1 Strategy and Human Resource Management Topic 5 L E A R N I N G O U T L I N E 1. Why is strategic management important? Explain why strategic management is important. 2. What is the strategic management process? Describe what managers do when they do external and internal analyses. Explain the role of resources, capabilities, and core competencies. 3. What are the strategic options available to organisations? Explain the three main corporate-level strategies Explain the three main corporate level strategies Define Strategic Businesss Units (SBUs) and business-level strategies 4. Why is the impact of human resource management (HRM)? Explain why human resource management (HRM) is important Describe the principal roles, functions and outcomes of HRM 5. What options to organisations have to manage their people? Describe the HRM functions of recruitment; selection; training and development, performance management; and reward management What is strategic management? Strategy Direction in which an organisation intends to move and creation of a path by which it intends to get there. Strategic management The set of managerial decisions and actions that determines the long- run performance of an organisation. A process or approach to addressing the competitive challenges faced by an organisation. It can be thought of as managing the pattern or plan that integrates an organisations major goals, policies and action sequences into a cohesive whole (Quinn, 1980). 2 Why is strategic management important? A strategy may lead to higher organisational performance Strategy helps coordinate diverse organisational units, helping them focus on organisational goals Strategy development requires an examination of internal organisational characteristics and external environment changes Strategy decisions about competition Where to compete? In what market or markets (industries, products etc) will we compete? How to compete? On what criterion or differentiating characteristic(s) will we compete? Cost? Quality? Reliability? Delivery? With what will we compete? What resources will allow us to beat our competition? How will we acquire, develop and deploy those resources to compete? Levels of organisational strategy Corporate-level strategies Top managements overall plan for the entire organisation and its strategic business units Business-level strategy A strategy that seeks to determine how an organisation should compete in each of its strategic business units (SBUs). Functional-level strategy A strategy that seeks to determine how to support the business-level strategy. 3 Corporate-level strategies a) Growth strategy Seeking to increase the organisations business by expansion into new products and markets....
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This note was uploaded on 07/25/2011 for the course MGMT 1001 taught by Professor Danielellason during the Three '09 term at University of New South Wales.

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week 5 - 1 Strategy and Human Resource Management Topic 5 L...

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