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organization faces. It can be thought of as managing the pattern or plan that integrates an organization’s major goals, policies, and action sequences into a cohesive whole. A generic strategy is only a small part of strategic management. Business organization engage in generic strategic, but they also make choices about such things as how to scare off (=afscrhikken) competitors, how to keep competitors weaker, how to react to and influence pending (=nog gaande zijn) legislation, how to deal with various stakeholders and special interest groups, how to lower production costs, how to raise revenues, what technology to implement, and how many and what types of people to employ. Strategic management is a process for analyzing a company’s competitive situation, developing the company’s strategic goals, and devising a plan of action and allocation of resources (human, organizational, and physical) that will increase the likelihood of achieving those goals. Strategic Human Resource Management (SHRM)= a pattern of planned human resource deployments and activities intended to enable an organization to achieve its goals. The strategic management process has two distinct yet interdependent phases: xStrategy formulation= the process of deciding on a strategic direction by defining a company’s mission and goals, its external opportunities and threats, and its internal strengths and weaknesses. Five major components of the strategic management process are relevant to strategy formulation. Verspreiden niet toegestaan | Gedownload door Emilie Spaan ([email protected])lOMoARcPSD|1748678
oMission = statement of the organization’s reason for being; it usually specifies the customers served, the needs satisfied and/or the values received by the customers, a and the technology used. oGoals= what an organization hopes to achieve in the medium- to long-term future. They reflect how the mission will be operationalized. oExternal analysis= examining the organization’s operating environment to identify strategic opportunities and threats. Many of the opportunities and threats in the external environment are people-related. oInternal analysis= the process of examining an organization’s strengths and weaknesses. An analysis of a company’s internal strengths and weaknesses also requires input from the HRM function. External analysis and internal analysis combined constitute (=vormen) the SWOT analysis. oStrategic choice= the organization’s strategy; the ways an organization will attempt to fulfill its mission and achieve its long-term goals. xStrategy implementation= the process of devising structures and allocating resources to enact the strategy a company has chosen. Five important variables determine success in strategy implementation: oOrganizational structure oTask design oSelection, training, and development of people oReward systems oTypes of information and information systems. HRM has primary responsibility for three of these five implementation variables: task, people, and reward systems. In addition, HRM can directly affect the two remaining