strategic human resource management lecture 2
TRANSCRIPT
Lecture 2
Strategic HRM
Lets Talk about
HRM in your organization
• Identify the 2 major things you want to improve/change in your organization?
Strategy: Concept & Process
Strategy
This is what we want to do and this is how we intend to do it.
• Setting Long-term goals
• Ways to achieve goals
The Concept of Strategy
• The concept of strategy is based on three subsidiary concepts:
1. Competitive advantage,2. Distinctive capabilities 3. Strategic fit.
1. Competitive Advantage
• Michael Porter (1985)• Value Creation for customers
Markets
Products
Processes
How to Sustain Competitive Advantage?
2. Distinctive Capabilities
People
Innovation
3. Strategic Fit
The Fundamentals of Strategy
Strategic Intent
Resource-based Strategy
Capability of Organization
Strategic Management
1. Strategic Intent
• Mission and Vision of organization
• Specific goals
• Strategic Objectives
2. Resource-based Strategy
• Strategic capability of a firm depends on its resource capability.
3. Strategic Capability
• Ability of an organization to utilize resources in the most efficient manner.
Outsourcing
4. Strategic Management
• Set of decisions and actions in implementation process.
• Deals with End and Means.
• Importance of Flexibility.