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Benefits and Workstyle oLegal and Regulatory Changes Laws Competitive Environment Step 3: Internal Analysis Core Capabilities
oBundles of people, processes, and systems that distinguish an organization from its competitors and deliver value to customers. ProcessRecipes or standard routines for how work will be done Systems (Tech) Top-notch SystemsPeople Competitive Advantage (CA) Through People oThe resources must be valuable Source of CA when they improve the efficiency or effectiveness of the companyFind ways to decrease costs, etc. oThe resources must be rare Source of CA when their human capital is unmatchedoThe resources must be difficult to imitate Source of CA when the capabilities or contributions of a firm’s employees cannotbe copied by others. oThe resources must be organized Source of CA when their talents can be combined and deployed to work on new assignment’s at a moments notice. Composition oStrategic Knowledge workers Unique Skills that are directly linked to the company’s strategy and are difficult to replace Companies tend to make long-term commitments to these employees, investing in their continuous training and development. oCore Employees Valuable Skills but not necessarily unique Transferable skills therefore can leave the company easily, thus managers tend to shy away from developing these types of employees. oSupporting Workers Skills that are of less strategic value to the firmSupport the other two groups The scope of their duties are limited and their employment relationships tend to be transaction based. oExternal Partners Skills that are unique but not directly related to a company’s core strategy. Skills that are not readily available to firms Companies tend to establish long-term alliances and partnerships with these peopleLawyers, and consultants. Corporate Culture oCultural Audits Audits of the culture and quality of work life in an organizationForecasting1.Forecasting the Demand for Labour a.Quantitative Approaches
i.Trend Analysis – A firm’s employment requirements are forecasted based on some organizational index 1.Relies on a single factor to predict employment needs b.Qualitative Approaches i.Less statistical ii.Management Forecasts – The opinions of supervisors, dept. managers, experts, etc. about the organization’s future employment needs. 1.Dephi Technique – Decrease the subjectivity of forecasts by soliciting and summarizing the judgments of a preselected group of individuals. 2.Forecasting the Supply for Labour a.Staffing tablesi.Graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs.