...importance of a strategic plan for the success of the defined business. Strategic planning is critical to business success. Different from classic business planning, the strategic variety involves vision, mission and outside-of-the-box thinking. Strategic planning describes where you want your company to go, not necessarily how you're going to get there. However, like all other "travel plans," without knowing where you want to go, creating details on how to arrive are meaningless. Strategic planning defines the "where" that your company is heading. Strategic planning is the core of any business. Thompson, A.A., Strickland, A.J., & Gamble, J.E. (2010) Crafting and Executing Strategy: The quest for competitive advantage: Concepts and cases: 2009 custom edition (17th ed). Unlike business plans, there is no one right way to create effective strategic planning. It is, by definition, brainstorming at its best. Strategic planning involves "feel" just as much as it depends on management science. Since it depends on creativity and outside-the-box thinking, there is no perfect way to design a winning strategic plan. The more you understand your company, your industry, and your corporate "wish list," the better a winning strategic plan you'll create. Pearce, John, & Robinson, Richard Strategic Management 12th edition As critical as business planning is to the success of your company, all plans are useless unless followed by action. An additional side benefit of strategic planning is...
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...Strategic HR Management Laura Wilson HSA 530 Health Services Human Resource Management Dr. Queensberry June 14, 2013 1. Abstract In this paper I will describe the unique challenges of managing the human resources function for my specific organization, also I will analysis the competencies required for my specific position, and determine in which areas I need to develop and I will provide specific examples to support my rationale, next determine the role I think the company could play in developing me for the opportunity, what would I need the company to do? How would it benefit the company? And last develop a strategic view of human resources that supports my institutional organizational strategy. 2. Describe the unique challenges of managing the human resources function for your specific organization. Recruitment and retention of the correct number of qualified staff is very high on the list. Everyone knows there is a big nursing shortfall, but there is a need for highly qualified individuals all around. Due to the rapid growth of the healthcare sector and its sheer size, it is a challenge to fill jobs. And despite this need, there are obvious pressures for cost containment with people accounting for the lion’s share of an organization’s costs. Because of that, there is a pressure to make the HR organization world class, or at least strive to be better. As a result, it has become an imperative to employ better processes and technologies to overcome the challenges...
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...Areas of Business A quality MBA program provides business leaders with the business acumen to succeed in all functional areas of business. These functional areas of business include management, law, human resource management, leadership, accounting, finance, economics, research and statistics, operations management, marketing, and strategic management (University of Phoenix, 2013). Two functional areas that involve leading people include leadership and human resource management. Organizations with a strong leadership team are poised for success in the marketplace. This success is a result of maximizing the human capital potential and growth opportunities within a company. Yukl (2009) in his book "Leadership in Organizations" proposes that the leadership function in business has 10 attributes critical for organizational success. The leadership function aligns objectives and strategies to facilitate movement toward a stated vision. To accomplish the organizational vision the leadership function must build mutual trust and commitment among all internal and external stakeholders. This sense of trust is developed through effective communication and sharing openly with others who have a stake in the business. Leadership teams explain the meaning of events and how that impacts the organization so that all stakeholders are well informed. This communication leads to building task commitment and optimism among the team to accomplish organizational goals and leads to a collective...
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...Abstract Strategic human resource management (SHRM) has emerged as a significant issue in tandem with the increasing focus being given by the companies to strategy. Faced with an accelerating changing and unsteady environment, the response of the corporation has been to attempt to create a sound internal configuration that includes human resource management (HRM) systems. The key to providing an effective response is to have an HRM system attuned to strategic requirements. The philosophical and academic bases for SHRM, proposed during the past three decades, have followed differing paths. This project attempts to bring together the differing approaches to SHRM and presents a consolidation and evaluation of these viewpoints. A discussion highlights the problem of semantics and pinpoints the controversies and contradictions implicit in the different viewpoints. This project underscores the emerging area of agreement viz. the increasing emphasis on the strategic nature of HRM and considering human resource as a strategic resource to be used to create and sustain a competitive edge for organizations. Definition Strategic Human Resource Management is essential to every firm and organization to define its plans and strategies on how the company vision and goals should be aligned and attained through people. It is founded on the following propositions: 1- Human resources is a key source of competitive advantage 2- Employees are those who implement the strategic plans 3- A...
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...Introduction: Human resource management works with human to formulate and implement the business strategy. HRM and strategy were not related too much before but nowadays the coordination between them is reasonably common in the competitive world. Every manager needs to know how human resources are associated with strategic management to increase the effectiveness of the organization. This assignment has been prepared to give a clear view about the importance of HRM, formulation and implementation of HR strategies. Therefore, the contemporary issues related to strategic human resource management have been analyzed appropriately to show their impact on strategic HRM. All the topics have been assessed by relating with modern business world to show practical overview of human resource management and strategic human resource management. 1. Understanding the role and importance of HRM: 1.1. Definition of strategic human resource management In general, human resource management refers to a process by which the organization functions are accomplished and objectives are achieved through managing and utilizing experienced and skilled workforce. Human resource management starts with recruiting and selecting employees and then makes sure the utilization of the workforce. Strategic human resource management is defined as macro-organizational approach that designs strategic policies and frameworks to decide how the long-term goals and objectives will be achieved through using trained...
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...discussion has been on Strategic planning in organizations. This paper will explain 3 types of goals, which are important to an organization as we as explanations and elements involved in created strategy of an organization. Organizations are built with the goal of the profitability through process in mind. The organization control approach incorporates goals and strategy used to reach them. (Boundless.com Jul 2015) Using their mission statements, top managers do strategic planning to determine what the organization long-term goals should be for the next 1-5 years with the resources they expect to have available. Strategic management is a level of managerial activity bellowing setting goals and above tactics. (Boundless.com 2015). Strategic management provides overall direct to an enterprise. Strategic planning requires visionary and directional thinking. It should communicate general and profit goals and ways to achieve them. Strategic management provides overall direction to the enterprise. Objectives are determined by the results of the strategic assessment. These objectives should run parallel on a timeline, some short-term and others long-term. (Kincki & Williams 2015) Tactical Planning’s by done by middle management, they are normally given a 6-25 month time frame. The strategic priorities and policies are passed down to middle managers that determine what contribution their departments or similar work units can make with the resources that are given. (Kincki...
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...smoothly and efficiently. Some functional areas of business include human resource management, strategic planning, and leadership that are an essential part of a business and managers must use to meet an organization's goals and mission. Human Resource Management Human resource management (HRM) manages the company's employees and handles personnel hiring, firing, benefits, wages, pensions, training, as well as the host of other tasks such as employee relations. The main responsibility of HRM is to process all of the applications who apply for the position and to make sure that the selection and hiring of the employees will best fit the company's requirement. "Human resources management in any organization has a great importance because it manages the most important and most expensive assets of the organization. The human resource management is linked with all the managerial functions involved in planning for recruiting, selecting, developing, utilizing, rewarding, and maximizing the Potential of the human resources in an organization" (Rawash & Saydam, 2012). Whether an organization has been in business for years or is just starting, getting and keeping talented employees is important to the success of every company. Finally, all managers engage in some HRM activities such as evaluating their workers' performance and interviewing job candidates even if there is a separate HRM department. Strategic Planning Strategic planning provides principals for...
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...People think of change as the "vision thing" but it is much more than that. Implementing change is integrated to scanning the environment, estimating the situation, determining organizational direction, understanding culture of the organization, leveraging that culture, and planning out the actions needed to make the change. Being successful in implementing change also is directly related to the leadership style of the organization's top leaders. It is also important to assess the costs of change as well as the cost of not changing. Leaders are trained, educated, and rewarded to make things happen in organizations. What leaders routinely fail to recognize is the link between change and human behavior. The link between change and human behavior either supports or impedes successful implementations of change. To become an implementer of change, you must understand what the environment is like, who you are, what your organization is, and reconcile the differences. You will be more successful if you can adjust your leadership style to one that supports the leader performance demands at the strategic level. Culture is deeply seated within organizations and challenging to change, but leaders can influence an organization's culture. It is difficult and timely, but leaders can have an effect on culture. Edgar Schein, Organizational Culture & Leadership, outlines some specific steps leaders can employ: * Culture follows what leaders pay attention to, measure and control. Something...
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...Human Resource Management Overview Fawn Barrette Strayer University Health Care Human Resource Management HSA 320 Dr. Sherrie Lu May 3, 2014 Human Resource Management Overview Introduction. Human resource management is a vital proponent to health care and to a health care organization. I will attempt to show just how so in this paper by determining key roles that human resource management plays in the health care field. I will evaluate three to five functions of human resource management n terms of their level of support and give an opinion of which one I feel to be the primary function in furthering the health care field. Lastly, I will analyze the role of human resource management in an organization’s strategic plan. Key roles of human resource management in the health care field. The key role of human resource management in health care field is to make sure that individuals get the best and highest quality healthcare that they can by hiring qualified and skilled employees. In addition to employees, it is important to mention that HR is responsible in making sure that an organization has qualified practitioners that are able to work efficiently and effectively, in order to maintain cost. (Kabene, Orchard, Soriano, & Leduc, 2006) It is also a key role of HR management to foster a partnership role between HR and senior management, it is important for managers to treat HR as a consultant when it comes to issues with employees. (Niles, 2013) A personal example...
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...Functional Areas of Business - Marketing and Human Resources Functional Areas of Business - Marketing and Human Resources The MBA overview highlights several areas of business that are studied in the MBA program at University of Phoenix. Two of the functional areas of business that appeal to me are marketing and human resources. This paper will review these two business functions, and provide an explanation of the management role in each area. Marketing Business Function. The role of marketing in an organization is critical to its success. Marketing can be defined as “the management process through which goods and services move from concept to the customer” (businessdictionary.com). Marketing focuses on the marketing mix, also known as the four P’s of marketing; Product, Price, Place and Promotion. All four must be present and work together in order to achieve success with a product or service (Khonat, 2013). However, marketing is much more than just the traditional role of being charged with advertising and promotional plans. Today’s marketing operations require cross-functional and diverse teams to produce results (Scott, 2013). Scott (2013) goes on to explain that marketing must work with all areas of the business; for example, with sales and IT for customer relations, and with R&D and manufacturing with regards to new product development and innovation. The Marketing Manager. I believe that the role of marketing...
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...Strategic HRM for banking The environments in which organizations operate today are divergent. Myanmar banking sector has been facing unprecedented challenges with the wave of privatization and globalization of myanmar economy. Banks are under intense pressure to perform in today’s volatile market place. Steep competition, globalization, growing customer demand and exposure to higher credit risks are forcing the banks to find new ways of providing better customer service so as to improve profitability. The strategic management of human resources is one of the ways companies may use to increase their competitiveness in the new organizational landscapes, since managing in a global marketplace, introducing new technology, developing organizational knowledge, improving customer service or product quality, requires considering the “human equation” (Pfeffer, 1998). The management of organization human resources is an integral part of how an organization is going to achieve its mission goals. Without people, there is no one to do the work. Therefore, integrating HRM into the organization strategic plan is important step in Establishing an HR Strategy. The function of building human resources management strategy requires analyzing the current strategies of the organization and its goals which means Because of the globalization, the competition is very intense to get competitive advantage. Globalization represents the structural making of the world that is characterized by the free flow...
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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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...HR 485: Strategic Human Resource Management Unit 7 Project March 14, 2012 Learning Journal For this assignment I will be expressing my thoughts about issues, concepts, and events from the reading and classroom discussions in this class. I will address what I have learned and how I will be applying this knowledge to my job. Some of the specific points I found interesting in this course are understanding what the purpose of HR business strategy is, learning what a high-value organization is, the components of an HR business strategy, learning about the HR business strategy matrix, learning what an HR business strategy looks and feels like, human systems and organizational culture, understanding the HR maturity scale, learning about teamwork, employee value, appreciation, and value measures and management tools. Human resource strategies are designed to ensure that small businesses have the staff they need to meet customer demand. Considerations that impact human resource strategy include both internal and external environmental changes, such as anticipated turnover, the need for new types of skills and experience, growth or expansion into a new market, changing economic pressure and competitive pressures. At the highest level, the objectives of a human resource strategy will require businesses to consider two key things: the type of staff needed to manage and run the business to meet stated business objectives, and the pay/benefits and other programs necessary to attract...
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...parts. The following review will analyze various issues impacting the organizations operations. Identified issues will be used to determine business opportunities while connecting improvements to key human resource management concepts. Key stakeholders in the organization will be identified along with the establishment of strategic end-state goals that will help guide improvements at Riordan Manufacturing. Major gaps in Riordan Manufacturing’s process will be analyzed using a standard gap analysis approach with accompanied alternative solutions that have a long-term focus. An optimal solution will be identified along with an implementation plan with meaningful end-state goals that support the vision of the organization. Situation Analysis Issue and Opportunity Identification Riordan Manufacturing has developed various processes and procedures to manage the business. The organization maintains a heavy focus on research and development with a strong sales force to help distribute the various products. Manufacturing plants are situated in Pontiac, Michigan; Albany, Georgia; and Hangzhou, China with the corporate headquarters in San Jose, California. With rapid growth and expansion Riordan Manufacturing has begun to experience issues that will impact organizational goals and strategic plans. The key issues affecting the organization center on employee motivation, employee...
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...that allow an organization to develop and maintain competitive advantage. B. Competitive advantage is what sets an organization apart or its competitive edge. 1. Having something that competitors don't 2. Doing something better than other organizations do 3. Doing something other organizations can't C. Competitive advantage is a key ingredient for long-term success and survival of all organizations, including not-for-profits and governments. 4. Failure can be traced to: a) Failure to recognize the impact of important external factors b) Failure to capitalize on organizational resources and capabilities D. Represent different perspectives on what it takes to capture competitive advantage—that is, how to manage strategically (refer to Table 2.1). 5. Industrial Organization View (I/O) The industrial organization (I/O) view suggests organizations look at the impact of important external factors. Focus is on: a) The structural forces within an industry b) The competitive environment (i.e., the firm's position within the industry) c) How these influence competitive advantage 1) Firm’s position in the industry and the underlying industry characteristics will, determine profitability. • Negative forces in industry will result in lower than average profits • Weak position in the market will result in lower than average profits d)...
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