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Unformatted text preview: et of pre­determined choices and actions designed to achieve a goal • In organizations, strategy guides the choices and actions of employees by providing direction to help them achieve work goals. • What is your strategy to pass an exam? Business Strategy +HRM Strategy Business Strategy +HRM Strategy • Two strategies must align and work together to create success – competitive business strategy and HRM strategy Competitive Business Strategy Organizational effectiveness and stakeholder delight HRM Strategy How is Strategy Formulated? How is Strategy Formulated? • On the next slide we will see the 3 steps in strategy formulation. We will discuss the steps together. How is Strategy Formulated? How is Strategy Formulated? Step 1: Gather Information •Scan the organizational environment to assess opportunities and threats •Assess internal capabilities and resources to determine strengths and weaknesses •Focus on human resources as a rare resource that is difficult to imitate Step 2: Analyze Information and Make Decision •Form a group that meets together to develop collective intuition •Encourage quick conflict •Set flexible timetables that keep the group moving toward decisions •Diffuse politics and create a culture of cooperation Step 3: Implement the Decision •Take action and make specific plans for action •Assign specific areas of responsibility and hold people accountable for results •Develop pro...
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This document was uploaded on 02/03/2014.

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