Benefits and Workstyle o Legal and Regulatory Changes Laws Competitive

Benefits and workstyle o legal and regulatory changes

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Benefits and Workstyle o Legal and Regulatory Changes Laws Competitive Environment Step 3: Internal Analysis Core Capabilities
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o Bundles of people, processes, and systems that distinguish an organization from its competitors and deliver value to customers. Process Recipes or standard routines for how work will be done Systems (Tech) Top-notch Systems People Competitive Advantage (CA) Through People o The resources must be valuable Source of CA when they improve the efficiency or effectiveness of the company Find ways to decrease costs, etc. o The resources must be rare Source of CA when their human capital is unmatched o The resources must be difficult to imitate Source of CA when the capabilities or contributions of a firm’s employees cannot be copied by others. o The 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 o Strategic 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. o Core 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. o Supporting Workers Skills that are of less strategic value to the firm Support the other two groups The scope of their duties are limited and their employment relationships tend to be transaction based. o External 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 people Lawyers, and consultants. Corporate Culture o Cultural Audits Audits of the culture and quality of work life in an organization Forecasting 1. Forecasting the Demand for Labour a. Quantitative Approaches
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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 tables i. Graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs.
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