...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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...said about the literature on diversity in an international setting. Indeed, from a diversity management perspective we know surprisingly little about how multinational firms are responding to the increasing globalization of their workforce. This study seeks to contribute to this underresearched area through an in-depth longitudinal case study of TRANSCO, a well-known European MNC, which has been attempting to integrate diversity management globally throughout its worldwide operations. Adopting a Finnish host-country perspective, the study investigates what TRANSCO has been integrating, how it has tried to facilitate this and the challenges that have arisen throughout the process. The results indicate that TRANSCO has committed a considerable amount of resources to the global diversity management integration process, reflected in the myriad of integration mechanisms utilized. In terms of their integration strategy, it was evident that TRANSCO was able to achieve global consistency at the level of diversity philosophy, but was forced to rely on a more multi-domestic approach to implementing diversity policies and practices. The challenges encountered served to highlight the demographic, cultural and institutional embeddedness of diversity management when transferred into a non-Anglo-Saxon host context. Keywords Diversity management; multinational corporation; institutional theory; Finland. Introduction Although increasing workforce diversity and its...
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...Integrating Strategy and Human Resource Management Name Institution Affiliation Integrating Strategy and Human Resource Management Introduction The integration of the two aspects of human resources has enabled the organizations to address the issues that they face both internally as well as in their respective industries. Therefore, this is an indication that organizations ought to integrate human resource planning with human resource management so as to adjust in the ever-changing markets. “This makes the roles that human resources play within an organization to be very imperative, and which ought to be managed properly” (Davila & Marta, 2009). Integration Strategy The Human Resource Management plays a crucial role in all organizations (Davila & Marta, 2009). In the cases of People’s Bank, Maid Bess, as well as Ingersoll-Rand, there is a unifying theme in relation to the significance of the Human Resource Management in all these organizations. The unifying theme is that HRM integrates the process of human resource planning in all the aforementioned organizations with the strategic planning process, strategies that will help them in surviving in the ever-changing business world. For instance, in the case of People’s Bank, HR planning was integrated with s strategic planning process by means of synchronization of all its scanning process with that of the bank’s entire environmental scanning process. The strategic role of HRM that has been adopted by the U...
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...Strategic Human Resources Management What is meant by a strategic approach to HRM? How can a strategic approach to HRM be a source of competitive advantage to an enterprise? Illustrate your view by reference to relevant literature and case studies drawn from GSN406 course materials. “The most powerful of the strategic configurations of power remains people... you must work on developing an organizational espirit de corp that aligns the hearts and minds of your staff with the aims of the business”. (Boar 1997, p. 196) Acronyms used in this paper: HR Human resources HRM Human Resources Management SCA Sustainable Competitive Advantage SHRM Strategic Human Resources Management Student: Jason D Bingham Student no.: Unit: GSN406 HR Management Issues Assessment: 1 (15% weighting) Word limit (( 1000) 1047 (excl. list of references etc.) Lecturer: Due date: Friday 25 May 2001 Table of contents 1.0 Introduction 1 2.0 Definitions 1 2.1 Human Resource Management 1 2.2 Strategic management 1 2.3 Competitive advantage 1 3.0 Strategic approaches to HRM 1 4.0 How SHRM can provide competitive advantage 2 5.0 Validation of SHRM: Case studies of successful firms 3 ...
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...Chapter 3 Integrating HR Strategy with Business Strategy Human Resource Management, 5E 1 Learning Objectives • Understanding the Nature of Strategic HRM • Describe the Strategic Management Process • Integrate HR Functions with Strategic Management Process Human Resource Management, 5E 2 Traditional HRM vs. Strategic HRM Traditional HRM Strategic HRM Responsibility for HRM Staff specialists Line managers Focus Employee relations Partnership with internal and external customers Role of HR Transactional, change follower and respondent Transformational, change leader and initiator Initiatives Slow, reactive, fragmented Fast, proactive, integrated Time horizon Short term Short, medium, long Control Bureaucratic roles, policies, procedures Organic-flexible, whatever is necessary to succeed Job design Tight division of labour, independence, specialisation Broad, flexible, crosstraining teams Key investments Capital, products People, knowledge Accountability Cost centre Investment centre Human Resource Management, 5E 3 Strategic HR Model Institutional/ Political forces Firm strategy Resource dependence institutional Resource-based view of the firm HRM Practices Cybernetic Agency/ Transaction Costs HR Capital Pool (skills, abilities) HR Behaviours Behavioural Approach Firm-level Outcomes (performance, satisfaction, absenteeism...
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...MODULE: HUMAN RESOURCE MANAGEMENT TABLE OF CONTENTS 2.1....................................................................Introduction 2.2....................................................................Corporate Strategy 2.3.....................................................................Strategic human resource management and human resource strategies 2.4.....................................................................Conclusion 2.5.....................................................................Recommendation 2.6......................................................................Bibliography LITERATURE REVIEW ON THE STRATEGIC FIT/INTEGRATION BETWEEN BUSINESS STRATEGIES AND HR STRATEGIES 2.1 INTRODUCTION This chapter presents a review of the relevant theoretical and empirical literature from books, referred journals, research projects and the internet. The achievement of any set of corporate objectives requires deployment of the two most important basic resources, namely, people and money. Deficiency in either of the two can reduce the best laid strategy to a valueless pipe dream. Organisations seem to find it more difficult to develop human resource strategies which are linked to business strategies despite a widespread recognition that this is important (Hussey, 2000). For Press Trust to achieve its strategic plans, it is only by having the right quantity and quality of management and non-management personnel on board. People that...
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...Areas Of Overlap An area of overlap for a Human Resources consulting include the area of employment laws based in Title VII of the 1964 Civil Rights Act as amended. HR consultants serving as strategic partners are giving access to sensitive information consequently, the client expects the consultant to act professionally and ethically concerning distribution of information that is the property of the client (Stewart, 2011). When an HR consultant departs one client and joins another client it is understood that the knowledge acquired at the previous company is not only sensitive, it is also valuable if shared with the new client. It is worth mentioning that all information is not sensitive. For instance if the overlap is an issue such as workplace violence and the HR consultant devised a training module that reduced the occurrence of violence by 20%, then this information can be rightly shared with the new client. Conversely, if the HR consultant was present during strategic planning session with the previous client and learned information that would give the new client a competitive edge, doing so would be an ethical violation and could led to criminal prosecution. Overlapping issues require the HR professional to use good judgment in addition to following the ethical guidelines outlined by the Society of Human Resource Management (SHRM code of Ethics). SHRM requires all of its members and highly recommends all nonmembers to follow the ethical guidelines posted on the SHRM...
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...Reuter has various challenges in which they must consider when managing IHRM functions. Reuter aims to standardise its HRM organisation as part of their change process. Implementing these changes can cause challenges that Reuter must face. These challenges can include: • The budget Reuter must attain to support the change of standardisation and the time constraints. • Centralised Policy • Must understand which of their HRM service centre should be globalized or localised. • How off-shoring impacts staffing. According to Reuter’s case study during regionalisation of HRM and the organisation, Reuter should consider the cost efficiencies when globalisation is desired. It is important that the organisation has the costs to support the change as it would be tedious if the change cannot be conducted halfway (Reference). Reuter’s IHRM would therefore be prone to risk if it does not have a budget as business transformation is requires fundamental changes in parts of the organisation to ensure competitive advantage exist. Furthermore, it is a timely process and can take over years to ideal hence with no budget will cause a challenge for Reuter. Reuter currently has 17,000 employees with 5% being expatriates. With 200 sites available, it is likely that Reuter may need to recruit more employees to centralize the operations for each sites, this can mean teaching current employees new skills, knowledge transfers and sharing. Reuter plans to off-shore transactional centres to lower cost...
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...LO 1 Understand the different perspectives of human resource management 1.1. Explain Guest’s model of HRM (P1) The comparative model of Guest in relation to HRM states that a particular structure comprising of a combination of HRM practices usually lead to superior and enhanced organizational and individual performance. This model stresses that various HRM strategies such as those involving expenditure reduction, quality enhancement, innovation, and differentiation result to numerous benefits in areas such as security, rewards, increased personnel involvement, and better or enhanced training procedures (Foot, 2005pp39). All these then enable ventures to achieve enhanced quality results, increased flexibility, and increased commitment towards company success. This model particularly focuses on a differentiation between commitment and compliance. According to this model, company planning involves a pursuit to enhance a venture through utilizing and integrating personnel in relation to their unique capabilities. 1.2. Compare the differences between Storey’s definitions of HRM, personnel and IR practices (P2) There are numerous differences in Storey’s definitions of IR practices, personnel, and HRM. In relation to strategic aspects, differences involve labor management and key relations, types of initiatives (integrated or piece-meal), types of corporate plans (central or marginal), and types of decision speeds (fast or slow). In terms of rules, Storey’s differences involve the...
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...company decides to change directions in it strategy the HRM practices needs to change to support the new strategy. In order to effectively gain competitive advantages though HRM practices; the HRM practices needs to change in three major areas: knowledge workers, employee empowerment, and teamwork. Knowledge workers are employees whose main contribution to the organization is specialized knowledge, such as knowledge of customers, a process, pr a profession (Noe et al, 2009). Employee empowerment means giving employees responsibility and authority to make decisions regarding all aspects of product development and customer service (Noe et al, 2009). Teamwork is the assignment of work to groups of employees with various skills who interact to assemble a product or provide a service (Noe et al, 2009). Redmond Minerals gained a great competitive advantage by utilizing their understandings of how important the HRM practices are to it company. The company’s HRM practices allowed his company to maximize its productivity of the organization by optimizing the effectiveness of its employees. Technology/Internet Advances in computer-related technology have had a major impact on the use of information for managing human resources (Noe et al, 2009). Internal working of Redmond Minerals HR department can be optimized far beyond the owner’s initial vision with the use of technology. The three ways the use of the internet can improve Redmond’s HRM functions are human resource information...
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...competitive advantage (Wright and McMahan, 1992; Boxall and Purcell, 2008). And that this has led to the evolution of strategic international human resource management (SIHRM), which not only acknowledge the need of balancing global integration and local responsiveness (Evans et al., 2002), but to seek strategic fit between HR policies and business strategy in order to achieve superior business performance. The researcher’s paper focus upon China with reference to foreign MNCs’ operations and the challenges faced from the dual pressure of balancing globalisation and localisation. Arguing that by combining the concept of SHRM with IHRM it identified a new research area of SIHRM which addressed the HRM issues and activities resulting from, and impacting on, the strategic activities and international concerns of MNC’s, that the universality, contingency and configurationally approaches in SHRM provides a theoretical foundation and development of HR practices and firm relationship that have been reflected in the substantial number of empirical studies, The research concludes that HR practices must be combined with specific business strategies to enhance organisation performance, that foreign MNC’s are seeking...
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...ECM62EKM: Organisational Behaviour and HRM |Module size |15 Credits, Level M | |Total student study hours |150 | |Pre-requisites and co-requisites |None | |Excluded Combinations |None | Aims and Summary This module provides a thorough grounding in the theories of organisations, the processes of organisational designing, and the practice of human resource management. The first part of the module concentrates on the concepts of organisational structure and behaviour. The second part reviews the changing nature of the employment relationship and critically evaluates the contribution of HRM to organisational effectiveness and efficiency. Intended Module Learning Outcomes On successful completion of this module, the student will be able to: Demonstrate an understanding of theoretical concepts of organisation structure and behaviour, and the practice of organising. Critically discuss the relationship of HRM to the traditional practice of personnel management and industrial relations. Assess key areas of HR practice, such as strategic planning, resourcing, development...
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...of HR Running Head: Importance of HRM in International Business Importance of HRM in International Business [Name of Author] [Name of Institution] 1- Outline Importance of human resource management is now globally recognized and business growth is related to better management of human capital of a company. The present research proposal, henceforth, sets ground to investigate the importance of managing, running, and stabilizing human resource in order for the growth of business. It aims to contribute to the existing research of human resource management (HRM) by organizing secondary sources and relating it specially to the expansion of business across borders that has come to be known as multinational companies operating in a number of different countries (INVESTOR, 2008). The paper also examines various facets and implications of across border business activities that aim to take place majorly due to HR issues such as mergers, acquisition, and so on (Chapman, 2001). Another important aspect of HR and business spreading over the international boundaries is cultural aspects of a specific region, country, or state that a business venture must come to recognized as a valid component. It is important to realize that in the flourishing of withering of a business local culture plays a decisive role. Related to this is the issue of workplace culture where, as in today’s global workplace, workers come from different cultures and backgrounds to work together. Hence it is...
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...programs in HRM, the concept of strategic fit and how human resource management can lead to a competitive advantage. The manner in which an organization’s personnel are managed has a tangible influence on the productivity of the employees, which ultimately acts upon the firm’s bottom line. Corporate success is dependent upon the integration of the human resource plan and the corporate strategic plan. It has become a prominent part of business management, that people provide organizations with an important source of sustainable competitive advantage and that the effective management of human capital, not physical capital, may be the ultimate determinant of organizational performance (Youndt, Snell, Dean, Jr, & Lepak, 1996). The relationship between the strategic planning of an organization’s people and the overall strategy is being increasingly recognized as one of great importance. A growing recognition of human resources as being a company’s most important asset has, and will continue to, changes the focus of strategic planning. It is no longer acceptable to exclusively plan for those assets that will appear on the balance sheet. A plan integrating human resource management and the overall strategic plan is necessary, such that the management of people is not a distinct function, but acts as a medium through which all other business strategies are implemented (Armstrong and Long, 1994: p. 42). In essence, the competitive, human resource, and structural strategies should all...
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...(30 marks) 2. In what ways can organisations develop strategically useful performance management systems? What is the nature of the link to SHRM thinking? (30 marks) 3. Why is reward management potentially so problematic for SHRM? In what ways can organisations integrate reward management in to the HRM strategy? (30 marks) 4. The best approach to modern employment relations is through the use of partnerships and partnership agreements. Discuss this statement in relation to a country of your choice. 5. How can HR functions deliver strategic organizational change and what difficulties may they face in doing it? Use theories, models and organizational examples as appropriate to develop your answer. 6. Critically evaluate the use of competency based approaches in modern HR strategies. Explain in details how they may be used in recruitment and selection. Use organisational examples as appropriate to support our answer 7. Evaluate the main theoretical views of the nature of HRM strategy? 8. Critically evaluate ONE of the following a) In what ways can HR strategies provide the level of organisational flexibility required by modern organisations? OR b) Should reward strategies always include an element of performance related pay. Justify your answer in relation to both theory and practice 9. How would you present the case for an organization to adopt a strategic approach to the management of people? What would be the potential advantages and disadvantages that an organization...
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