...RESOURCES STRATEGIES – RESOURCING STRATEGY Marinaş Cristian Puia Ramona Ştefania Academia de Studii Economice Bucureşti, PiaŃa Romană nr.6, Sector 1, Bucureşti, +4021 319 19 00, Ramona.puia@man.ase.ro In this article the authors make an abstract of the main human resources strategies, presenting them in relation with the global strategy of the organisation. The accent falls on resourcing strategy, one of the main sources of competitive advantage. Resourcing strategy is not just about recruitment and selection. It is concerned with any means available to meet the needs of the firm for certain skills and behaviours. A strategy to enlarge the skill base may start with recruitment and selection but would also extend into learning and development programmes to enhance skills and methods of rewarding people for the aquisition of extra skills. These statements want to emphasise the strong links between different human resource strategies. Key words: strategic management, human resources, resoucing strategy, skills. The last years’ research proved that the main priority of organisation strategy and strategic management is to secure a long-term future of the company. It is certain that such a purpose you can not achieve by practicing a bad human resource management and not take into consideration the strategic role of human resources. The human factors are critical when implementing a different organisational strategy, as people are usually change resistant. The performance of the company...
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...importance of the HR function, how HR activities support the organisation’s strategy and ways HR support line managers and their staff. The HR’s principle importance is to ensure the company’s compliance with laws and regulations for employees and at the same time to ensure compliance with policies that assist in avoiding liability arising from employees. The HR Function is in a position to add value to the company by implementing the following activities and in turn support the company’s strategy. For all the reasons in this report this is why the HR function should be retained. Section | | * Recruitment and Selection Training and Development Performance Management 1. Recruitment and Selection The HR functions aim is recruiting new staff that have relevant skills and abilities, not just for a current role but to identify the needs of the company in the future. Recruiting the wrong people can lead to a drop in productivity, lack of commitment, low morale, money spent on training and induction and rapid staff turnover. There is then the cost of having to go through the recruitment process again, all of which impacts heavily on the company. If the company currently has the right employee with the right skills at the time of recruiting, this will also allow for consideration of suitable internal candidates for job promotion. This will then save HR functions and Managements time, money for the Company and will allow for Management to then select from a shortlist...
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...STRATEGIC MANAGEMENT ------------------------------------------------- ------------------------------------------------- TOPIC THE NATURE OF STRATEGIC MANAGEMENT ------------------------------------------------- ------------------------------------------------- SUBMITTED TO MR. SAJJAD UL AZIZ ------------------------------------------------- ------------------------------------------------- SUBMITTED BY ANEEZA JAMIL ------------------------------------------------- ROLL NO. # 13 ------------------------------------------------- M.PHIL (Semester 2) ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- ------------------------------------------------- MINHAJ UNIVERSITY LAHORE ------------------------------------------------- STRATEGIC MANAGEMENT DEFINATION: “Strategic management can be defined as the art and science of formulating, implementing, and evaluating cross-functional decisions that enable an organization to achieve its objectives”. As the definition implies, strategic management focuses on integrating management, marketing, finance/accounting, production/operation, research and development, information system to achieve organizational success. STAGES OF STRATEGIC MANAGEMENT: The strategic management process consists of three stages: STAGE 1: Strategy Formulation: ...
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...holding the strong leadership position in the pharmaceutical industry of Bangladesh since 1985 and is now on its way to becoming a high performance global player. It was established in 1958 and converted into a public limited company in 1991. The sales turnover of SPL was more than Taka 5 Billion (US$ 90 million) with about 15% market share (April 2003 – March 2004) having a growth rate of about 16%. Besides fulfilling domestic demand it exports a huge amount of drugs in abroad. It is now exporting medicine in 20 countries. It has achieved the trust of the domestic and foreign people. SQUARE’s Mission is to produce and provide quality &innovative healthcare relief for people, maintain stringently ethical standard in business operation also ensuring benefit to the shareholders, stakeholders and the society at large. As a very large and formal company Square uses different management practices in their corporate world. It does the works of planning, organizing, leading and controlling. Square Pharmaceuticals Ltd. follows a systemic way to take a particular decision. Based on the present & previous available data and information the decision is made, focusing & predicting the future consequences. The Planning mechanism of Square involves focusing on the goal and developing the overall strategy for achieving the goal. Strategy involves long term decision making to get a long term benefit. We did SOWT analysis of the Square. Square Pharmaceuticals Ltd. has many...
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...1 Definition of Strategic Management Strategic management is the process where managers establish an organization’s long-term direction, set the specific performance objectives, develop strategies to achieve these objectives in the light of all the relevant internal and external circumstances, and undertake to execute the chosen action plans. Strategic management steps: • specifying an organization’s objectives, • developing policies and plans to achieve these objectives, • allocating resources to implement the policies Therefore, we can see that strategic management is a combination of strategy formulation and strategy implementation. It is the highest level of managerial activity, usually performed by an organization’s Chief Executive Officer (CEO) and executive team. Strategic management provides overall direction to the enterprise. Strategy formulation involves: • doing a situation analysis: both internal and external; both microenvironmental and macro-environmental. • concurrent with this assessment, objectives are set. This involves crafting vision statements (long term view of a possible future), mission statements (the role that the organization gives itself in society), overall corporate objectives (both financial and strategic), strategic business unit objectives (both financial and strategic), and tactical objectives. • these objectives should, in the light of the situation analysis, suggest a strategic plan. The plan provides the details of...
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... by a review of principal works and differences of perspectives of resource-‐based view. The next section contains an analysis of the relationship between procurement and resource-‐based theory and discusses empirical works on outsourcing that address outsourcing from the resource-‐based view. The studies are classified into two categories: those studying the propensity to procure and those studying the relationship between procurement decision and firm’s performance....
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...i STRATEGIC HUMAN RESOURCE MANAGEMENT ii For free online support material please go to the Kogan Page website: www.koganpage.com/strategichrm Password: SHRM53756 iii STRATEGIC HUMAN RESOURCE MANAGEMENT A GUIDE TO ACTION 4TH EDITION Michael Armstrong London and Philadelphia iv Publisher’s note Every possible effort has been made to ensure that the information contained in this book is accurate at the time of going to press, and the publishers and author cannot accept responsibility for any errors or omissions, however caused. No responsibility for loss or damage occasioned to any person acting, or refraining from action, as a result of the material in this publication can be accepted by the editor, the publisher or the author. First published in Great Britain and the United States in 1992 as Human Resource Management: Strategy and Action Second edition published as Strategic Human Resource Management: A Guide to Action 2000 Third edition 2006 Reprinted 2006 Fourth edition 2008 Apart from any fair dealing for the purposes of research or private study, or criticism or review, as permitted under the Copyright, Designs and Patents Act 1988, this publication may only be reproduced, stored or transmitted, in any form or by any means, with the prior permission in writing of the publishers, or in the case of reprographic reproduction in accordance with the terms and licences issued by the CLA. Enquiries concerning reproduction outside these terms should be sent to the publishers...
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...Journal of Public Administration and Governance ISSN 2161-7104 2011, Vol. 1, No. 2 Training and Development Strategy and Its Role in Organizational Performance Abdus Sattar Niazi (Corresponding Author) MS Scholar, Iqra University Islamabad Campus, Pakistan Ph: +92 302 8500 777, Email: a.niazi55@hotmail.com Received: August 01, 2011 Accepted: August 11, 2011 DOI: 10.5296/jpag.v1i2.862 Abstract In the FMCG industry at global level, the business environment has changed with intense pressure on organizations, to become ‘Learning Organizations’ and stay ahead of their competitions by bringing innovation/reinvention in training and development strategy while emphasizing on planning, designing, implementing and evaluating the training programs. Carry out an analysis that the objective of training and development is to create learning organizations which ensure that employees through value addition can effectively perform their jobs, gain competitive advantage and seek self growth: this measurable performance resulting from good training and development, shall enhance organizational performance. Keywords: Training and Development, Strategy, FMCG, Organizational Performance 42 www.macrothink.org/jpag Journal of Public Administration and Governance ISSN 2161-7104 2011, Vol. 1, No. 2 1. Introduction The objectivity of training and development and its continued learning process has always been leverage with the FMCG industry and now it has become rather an over arching trend of...
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...KNOWLEDGE MANAGEMENT THROUGH STRATEGIC MANAGEMENT PROCESS ABSTRACT Knowledge Management (KM) is the key factor for the organizational success and survival. In the competitive business environments, knowledge management involve strategic management processes. The processes consist of formulating stages, implementation stages, and controlling stages. With a systematic strategic management approach, organizations are able to generate competitive advantage and achieve organizational objectives. This paper provides an approach for organization to manage KM through strategic management process. KM currently is a discipline which is growing very fast. Therefore to support business viability and competitiveness, organization needs to integrate fragmented landscape of KM with strategic management process. Keywords: Knowledge Management, Strategic Management. 1.0 INTRODUCTION According to Webb (1998), KM is the process of identification, optimization and active management of intellectual assets to create value, increase productivity and gain and sustain competitive advantage. Meanwhile, Murray (1998) said KM is a strategy that turns an organization’s intellectual assets and the talents of its members to produce new productivity, value and increase competitiveness. Therefore, we can conclude that KM is a discipline, designed to provide strategy, process, and technology to increase organizational learning. A part from that, strategy is the major plan to be undertaken and allocating...
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...SERVICES MANAGEMENT NOTES FOR 1ST WEEK Francisco T. Africa PROMOTIONAL TOOLS: The promotional tools available to any firm are typically classified into: 1. Personal selling – direct communication with an audience through paid personnel of an organization or its agents in such a way that the audience perceives the communicator’s organization as being the source of the message; 2. Advertising - is a non-personal form of communication intended to persuade an audience (viewers, readers or listeners) to purchase or take some action upon products, ideals, or services. 3. Sales promotion - Media and non-media marketing communication are employed for a pre-determined, limited time to increase consumer demand, stimulate market demand or improve product availability 4. Publicity - At its core, publicity is the simple act of making a suggestion to a journalist that leads to the inclusion of a company or product in a story Personal selling is differentiated from the other promotional tools in two ways: 1. Personal selling is personal communication, whereas advertising and sales promotions are non-personal. 2. In personal selling, the audience perceives the message as being delivered by the organization, whereas in publicity, even when it is in the form of personal communication, the audience typically perceives the media, not the organization, as being the source of the message. SALES MANAGEMENT PROCESS: Sales management is simply management of an organization’s...
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...ce PERFORMANCE MANAGEMENT SYSTEM AND ITS IMPACT ON ORGANIZATIONAL EFFICIENCY LITERATURE REVIEW Performance management comprises all activities that guarantee that organizational objectives are constantly being attained in an efficient and effective manner. Normally, performance management focuses on the organizational performance, employees, departments and to some extent the processes that are usually employed to build a service or product, as well as other key areas of an organization (Izadpanah et al., 2012). In this competitive market, every company want s upgrades their marketing strategies and prepares their business mission and vision in order to carry out their business in the long run. In the age of rapidly changing competition and technological advances, the business process is interwoven with some hard realities. These challenges are manifested in competitions from volatile and unknown entity from an unknown corner of the world, unstable customers’ preferences, stringent labour laws, international standards and swift economic and political changes. All these taken together, compel the corporate world to work in a war zone to acquire and retain more customers and stabilize their business (Pradhan et al., 2012). A performance management system is the key factor used in determining whether an organization can manage its human resources and talent effectively. Performance management provides information on who should be trained and...
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...STRATEGIC HUMAN RESOURCE MANAGEMENT CLASS NOTES/WORK The Strategic Approach to Employee Resourcing (Adapted from Armstrong, 2006) Definition The objective of HRM resourcing strategies is ‘To obtain the right basic material in the form of a workforce endowed with the appropriate qualities, skills, knowledgeand potential for future training. The selection and recruitment of workers best suited to meeting the needs of the organization ought to form a core activity uponwhich most other HRM policies geared towards development and motivation couldbe built.’ Keep (1989)Resourcing strategy ‘ is concerned with obtaining and keeping the number andquality of staff required and with selecting and promoting people who ‘fit’ the culture and the strategic requirements of the organization ’ Armstrong The aim of the resource based strategy is to ensure that a firm achievescompetitive advantage by employing more capable people than its rivals. Thesepeople will have a wider and deeper range of skills and will behave in ways that will maximize their contribution. Armstrong How the organization attracts and retains the right employees 1. By being the employer of choice2. By providing them better opportunities and rewards than competitors3. By developing a positive psychological contract which increases commitment and creates mutual trust 4. By deploying the resources in ways that maximize the intellectual capitalthey provide. Strategic HRM approach to resourcing The...
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...A guide to strategic human resource planning By Workinfo.com, www.workinfo.com 1. Introduction A comprehensive Human Resource Strategy plays a vital role in the achievement of an organisation's overall strategic objectives and visibly illustrates that the human resources function fully understands and supports the direction in which the organisation is moving. A comprehensive HR Strategy will also support other specific strategic objectives undertaken by the marketing, financial, operational and technology departments. In essence, an HR strategy should aim to capture "the people element" of what an organisation is hoping to achieve in the medium to long term, ensuring that:- • • • • it has the right people in place it has the right mix of skills employees display the right attitudes and behaviours, and employees are developed in the right way. If, as is sometimes the case, organisation strategies and plans have been developed without any human resource input, the justification for the HR strategy may be more about teasing out the implicit people factors which are inherent in the plans, rather than simply summarising their explicit "people" content. An HR strategy will add value to the organisation if it: • • articulates more clearly some of the common themes which lie behind the achievement of other plans and strategies, which have not been fully identified before; and identifies fundamental underlying issues which must be addressed by any organisation or business...
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...The strategy-making, strategy-implementing process consists of five inter-related managerial tasks: 1. Developing forming a strategic vision and establishing a clear mission to be achieved. 2. Converting the strategic vision and mission into measurable objectives and performance targets. 3. Crafting a strategy to achieve the desired results. 4. Implementing and executing the chosen strategy efficiently and effectively. 5. Evaluating performance, reviewing new developments, and initiating corrective adjustments in long term direction, objectives, strategy, or implementation in the light of actual experience, changing conditions, new ideas, and new opportunities. 1. Developing a Strategic Vision and Business Mission "Who we are, what we do, and...
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...Strategic Management Process Paper Miguel Valdez MGT/498 August 17, 2015 Paul Kramer Strategic Management Process Paper Describe the primary components of a strategic management process, and indicate why a strategic management process is needed for a company. Strategic Management is a set of managerial decisions and actions that determines the long-run performance of a corporation. It includes environmental scanning, strategy formulation, strategy implementation, and evaluation and control. The study of strategic management, therefore, emphasizes the monitoring and evaluating of external opportunities and threats in light of a corporation’s strengths and weaknesses. Environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation. Its purpose is to identify strategic factors those external and internal elements that will determine the future of the corporation. The simplest way to conduct environmental scanning is through SWOT analysis. Which, SWOT is an acronym used to describe the Strengths, Weaknesses, Opportunities, and Threats, that are strategic factors for a specific company. The external environment consists of variables that are outside the organization and not typically within the short-run control of top management. These variables form the context within which the corporation exists. However, the internal environment of a corporation consists...
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