...Line and Staff Aspects of Human Resource Management 32 Line Managers' Human Resource Duties 33 Human Resource Manager's Duties 33 New Approaches to Organizing HR 35 Cooperative Line and Staff HR Management: An Example Globalization and Competition Trends 37 Indebtedness ("Leverage") and Deregulation Technological Trends 38 Trends in the Nature of Work 39 35 WHAT IS HUMAN RESOURCE MANAGEMENT AND WHY IS IT IMPORTANT? 31 THE TRENDS SHAPING HUMAN RESOURCE MANAGEMENT 38 36 • HR AS A PROFIT CENTER: Boosting Customer Service Workforce and Demographic Trends 40 Economic Challenges and Trends 42 40 THE NEW HUMAN RESOURCE MANAGERS 43 Human Resource Management Yesterday and Today 43 They Focus More on Strategic, Big Picture Issues 43 • THE STRATEGIC CONTEXT: Building LL.Bean 43 44 They Use New Ways to Provide Transactional Services They Take an Integrated, "Talent Management" Approach to Managing Human Resources 45 They Manage Ethics 45 They Manage Employee Engagement 45 They Measure HR Performance and Results 45 They Use Evidence-Based Human Resource Management They Add Value 46 They Have New Competencies 47 HR Certification 48 46 THE PLAN OF THIS BOOK 48 48 The Basic Themes and Features CHAPTER CONTENTS OVERVIEW 49 49...
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...Outline – “Strategic Management” Aims & Objectives: 1. Development and reinforcement of a general management point of view -- the capacity to view the firm from an overall perspective, in the context of its environment. 2. Development of an understanding of fundamental concepts in strategic management: the role of the general manager, the levels and components of strategy, competitive analysis, and organizational evolution and change. 3. Development of a better understanding of the inner workings of large and/or complex organizations – 4. Development of an awareness of the impact of external environmental forces (technological, governmental, demographic, social, etc.) on business and corporate strategy. 5. Practice in distinguishing between basic causes of business problems and attendant symptoms. 6. Practice in working out strategies and implementation plans. Course Outline / Lesson Planning: |Week/Day/Date |Topic |Course Material | |1st Week | | |Topic … Overview on Strategic Management |Book… | | |Nature of Strategic Management |Strategic Management...
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...Line and Staff Aspects of Human Resource Management 32 Line Managers' Human Resource Duties 33 Human Resource Manager's Duties 33 New Approaches to Organizing HR 35 Cooperative Line and Staff HR Management: An Example Globalization and Competition Trends 37 Indebtedness ("Leverage") and Deregulation Technological Trends 38 Trends in the Nature of Work 39 35 WHAT IS HUMAN RESOURCE MANAGEMENT AND WHY IS IT IMPORTANT? 31 THE TRENDS SHAPING HUMAN RESOURCE MANAGEMENT 38 36 • HR AS A PROFIT CENTER: Boosting Customer Service Workforce and Demographic Trends 40 Economic Challenges and Trends 42 40 THE NEW HUMAN RESOURCE MANAGERS 43 Human Resource Management Yesterday and Today 43 They Focus More on Strategic, Big Picture Issues 43 • THE STRATEGIC CONTEXT: Building LL.Bean 43 44 They Use New Ways to Provide Transactional Services They Take an Integrated, "Talent Management" Approach to Managing Human Resources 45 They Manage Ethics 45 They Manage Employee Engagement 45 They Measure HR Performance and Results 45 They Use Evidence-Based Human Resource Management They Add Value 46 They Have New Competencies 47 HR Certification 48 46 THE PLAN OF THIS BOOK 48 48 The Basic Themes and Features CHAPTER CONTENTS OVERVIEW 49 49...
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...Starbucks: HR Practices Help Focus on the Brew, Weather the Recession, and Prepare for Growth 3 Introduction 4 What Responsibilities and Roles Do HR Departments Perform? 5 Strategic Role of the HRM Function 7 Demonstrating the Strategic Value of HR: HR Analytics and Evidence-Based HR 10 The HRM Profession: Positions, Education, and Competencies 11 Competitive Challenges Influencing Human Resource Management 14 Key Terms 61 Discussion Questions 61 Self-Assessment Exercise 62 Exercising Strategy 62 Managing People Skill Shortages Make It Difficult to Fill Positions and Customer Orders 63 Twitter Focus 64 Notes 64 Parti The Human Resource Environment 69 2 Strategic Human Resource Management 70 The Sustainability Challenge 14 Enter the World of Business: HP's New Strategy 71 Evidence-Based HR 24 Introduction 72 Competing through Sustainability Volunteerism and Going Green Are Reaping Dividends for Employees, Communities, and the Environment 30 What Is a Business Model? 72 GM's Attempt to Survive 73 What Is Strategic Management? 74 Components of the Strategic Management Process 75 Linkage between HRM and the Strategic Management Process 75 The Global Challenge 44 Competing through Globalization Apple Polishes Its Image through Auditing Overseas Suppliers 47 The Technology Challenge 48 Competing through Technology Connectiveness Enhances HR Practices 51 Meeting Competitive Challenges through HRM Practices 56 Organization...
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...organization's practices and performance against those of others. It seeks to identify standards, or "best practices," to apply in measuring and improving performance. It is the process of comparing one's business processes and performance metrics to industry bests or best practices from other industries. Dimensions typically measured are quality, time and cost. In the process of best practice benchmarking, management identifies the best firms in their industry, or in another industry where similar processes exist, and compares the results and processes of those studied (the "targets") to one's own results and processes. In this way, they learn how well the targets perform and, more importantly, the business processes that explain why these firms are successful. Benchmarking is used to measure performance using a specific indicator (cost per unit of measure, productivity per unit of measure, cycle time of x per unit of measure or defects per unit of measure) resulting in a metric of performance that is then compared to others. Also referred to as "best practice benchmarking" or "process benchmarking", this process is used in management and particularly strategic management, in which organizations evaluate various aspects of their processes in relation to best practice companies' processes, usually within a peer group defined for the purposes of comparison. This then allows organizations to develop plans on how to make improvements or adapt specific best practices, usually with...
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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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...of some of the definitions, theories and concepts underpinning strategy. As such it is intended to introduce the key concepts involved, or to form an overall reminder of the various issues relating to these areas. 1. What is strategy about and why is it so important? ‘Every company needs a strategy – either explicit or implicit.’ Costas Markides (1995) ‘An effective strategic management process has become the essential norm for businesses.’ Richard Hanscombe and Philip Norman (1993) ‘Effective strategic management is the ultimate aim of all managers.’ Financial Times, 1997 ‘The survival, growth and prosperity of any organisation depends on the quality and viability of the strategy the organisation is pursuing.’ Andrew Kakabadse, Ron Ludlow and Susan Vinicombe (1988) Indeed, such is the importance attached to the subject of strategy that one commentator on the subject, Richard Whittington (1993), reports that ‘there are thirty-seven books in print with the title Strategic Management’. Similarly a leading strategy thinker, Henry Mintzberg, and his colleagues (1998) note that ‘The literature of strategic management is vast – the number of items we reviewed over the years numbers close to 2,000 – and it grows larger every day.’ However, despite the importance given to them, thinking, writing and talking about ‘strategy’-related topics are subject to two main challenges, as is acknowledged by the warning issued by a leading thinker on marketing strategy, Paul Fifield. ‘The...
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...According to the Beyond Budgeting by Hope & Fraser, they defined budget as the “year-end profit forecasts”. Budgets have been using by companies for years since decades ago as a tool for management to use to achieve its strategic goals. A company plans its expedition toward its strategic goal in a planned method, and its preparation for the expedition with a strategic plan called a budget. Critics of budgets claim that budgets are bad for business and no longer sufficient and are “fundamentally flawed” as a planning and control model in today’s complex and highly unpredictable business environment (McNally, 2002). Stewart (1990) claims that experts criticize budgets are being insufficient. According to him, “Budgets, says experts, control the wrong things, like head count, and miss the right ones, such as quality, customer services and even profits”(Stewart, 1990, p. 179). The Business Finance magazine published an article title “The Budget (1922-2009) claims that the budget is “dead”. The writer, Jack Sweeney argues that it is not useful and appropriate to the industry’s 20th-century management anymore. Prendergrast (2002) lists out the problems which are facing by the organisations with compiling the budgets for planning and control purposes. First, a lot of guesswork has to be done in the budgeting process. It is a hard work for the managerial staffs to complete the budget in today’s highly challenging business world. Second, it is fixed and inflexible, and can quickly...
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...Cooperative Line and Staff HR Management: An Example 9 Moving from Line Manager to HR Manager 10 THE TRENDS SHAPING HUMAN RESOURCE MANAGEMENT 10 Globalization and Competition Trends 11 Indebtedness ("Leverage") and Deregulation 12 Technological Trends 12 Trends in the Nature of Work 13 Workforce and Demographic Trends 14 Economic Challenges and Trends 15 IMPORTANT TRENDS IN HUMAN RESOURCE MANAGEMENT 16 The New Human Resource Managers 16 Strategic Human Resource Management 18 High-Performance Work Systems 19 Evidence-Based Human Resource Management 19 19 • EVIDENCE-BASED HR: Why Should You Be Evidence-Based? Managing Ethics 20 HR Certification 20 THE PLAN OF THIS BOOK 21 The Basic Themes and Features 21 CHAPTER CONTENTS OVERVIEW 22 Part 1: Introduction 22 Part 2: Recruitment and Placement 22 Part 3: Training and Development 22 Part 4: Compensation 23 Part 5: Employee Relations 23 The Topics Are Interrelated 23 4 VII viii CONTENTS CHAPTER SECTION SUMMARIES 24 DISCUSSION QUESTIONS 24 INDIVIDUAL AND GROUP ACTIVITIES 25 EXPERIENTIAL EXERCISE: HELPING "THE DONALD" 25...
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...STRATEGIC HUMAN RESOURCE MANAGEMENT MANAGEMENT 5340 Fall 2011 EXECUTIVE MASTER OF BUSINESS ADMINISTRATION (EMBA) Shanghai Modern human resource management may be viewed as a process of acquisition, development, utilization, and maintenance of a human resource mix (people and positions) to achieve strategic organizational goals and objectives. The purpose of this course is to provide the student with an understanding of human resource management from theoretical, practical, and empirical viewpoints. Material will be presented and discussed from the perspective of the operating or line manager as well as the human resource specialist. Attention will be devoted to the various contexts of human resource management, basic techniques and methods, and the changing nature of managing human resources. More specifically, our concerns will include human resource and employment planning, employee recruitment and selection, training and development, performance planning and evaluation, compensation administration, organizational career management, structure of the human resource function, and the strategic role of human resource management. Objectives of the Course: During the course, the student will hopefully progress toward attainment of the following objectives: 1. Become familiar with the human resource management process (or HR value chain) and its key elements: a. Organization and human resource goals and strategies b. Human resource...
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...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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... that are utilized today, do improve and drastically enhance the operational effectiveness of an organization yet neglect to give the organization sustainable profitability. Subsequently, the main driver of the issue is by all accounts disappointment of administration to recognize operational effectiveness and technique: Management instruments have taken the place of strategy. 1) Operational effectiveness is performing similar exercises superior to anything opponents perform them. Operational effectiveness incorporates however is not constrained to effectiveness. It refers to numerous practices that permit an organization to better use its inputs. Porter expresses that an organization can beat opponents just in the event that it can set up a distinction it can protect. It must convey more prominent worth to customers or make comparable value at a lower cost, or do both. Nonetheless, Porter argues that most organizations today contend on the premise of operational effectiveness. The productivity frontier is the aggregate of all current best practices at any given time or the greatest quality that an organization can make at a given expense, utilizing the best accessible technologies, abilities, administration methods, and acquired inputs. Hence, when an organization enhances its operational effectiveness, it moves toward the frontier. The frontier is always moving outward as new advancements and administration methodologies are created and as new inputs get to be accessible...
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...CPA PROGRAM – PROFESSIONAL LEVEL STRATEGIC MANAGEMENT ACCOUNTING DELIVERING STRATEGY: THE STRATEGIC MANAGEMENT ACCOUNTANT’S ROLE WORKSHOP NOTES 2014 AUTHORS: RICHARD COMERFORD AND PETER ROBINSON REVISED BY: BRIAN CLARKE Published by Deakin University on behalf of CPA Australia Ltd, ABN 64 008 392 452 © CPA Australia Ltd 2014 (Edition 14a) The contents and any information contained in this document (Information) are for general information only. They are not intended as professional advice. For any professional advice, please consult a suitable qualified professional. CPA Australia Ltd, Deakin University and the author(s) of the Information (Entities) make no representation about the content and suitability of this Information for any purpose. The Entities disclaim all warranties with regard to the contents and in no event will be liable for any loss and/or damage whatsoever resulting from loss of income or profits, whether in an action of contract, negligence or other tortious action, arising in connection with the use and performance of and/or reliance of the Information. CPA PROGRAM – PROFESSIONAL LEVEL STRATEGIC MANAGEMENT ACCOUNTING DELIVERING STRATEGY: THE STRATEGIC MANAGEMENT ACCOUNTANT’S ROLE WORKSHOP NOTES 2014 AUTHORS: RICHARD COMERFORD AND PETER ROBINSON REVISED BY: BRIAN CLARKE Contents Workshop notes Workshop introduction Workshop objectives Workshop purpose Case Study: Pavlova Pty Ltd (PPL) Module 4: Techniques for creating and managing value...
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...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 The four components of strategic management are ethics, sustainability, innovation, and legal environment. Companies should exercise ethical practices when conducting business. These ethical practices eliminate legal repercussions, expenses, and ensure successful business transactions. Sustainability is the capacity of a company to maintain, and have the capacity to endure through unchanging resistance to change. The sustainable business has no negative impact on the global or local environment, community, society, or economy. Business innovation refers to a wide spectrum of original concepts, including development of new ways of doing business, new business models, and applications of technology and communications. Innovation helps the business restructure according to new innovative ideas and be able to compete with other businesses. The legal environment in business is broad. Legal environment involves ethics and business practices. The business must adhere to business ethics, social responsibilities, and laws in order for the business to run smoothly, avoid legal expenses, and avoid legal actions towards the company. These four components of strategic management are essential to the business success. Citigroup’s strategic management process Citigroup’s mission statement consists of serve individuals...
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...Game (Developing Winning Competitive Strategies) is an online, PC-based exercise where you run (in groups) an already established company in head-to-head competition against companies run by other groups from your class. Company operations are made as realistic as possible and the functioning of the marketplace in this Business Strategy Game closely mirrors the competitive functioning of the real-world business arena, thus allowing you and your co-managers to proceed rationally and logically in making strategic based decisions. As strategic managers you will need to satisfy your board members and shareholders/investors on five set performance objectives for the company. These will be explained in full detail in the Participant's Guide which you can download once you register for the game. While the objective of the game itself is to end up leading the competition, through these performance objectives, your assessment mark will be based on an individual report. This simulation game will commence from the tenth week (eleventh for cohort 2) of term. There will be: two practice sessions in the first two weeks where the simulation game will be presented in full detail; followed by five full decision making sessions over the next five weeks. At the end of the Business Simulation Game you will be required to prepare an Individual Reflective Strategic Report. This report will be borne out of your strategic analysis, rationalisations and decisions made together with reflections...
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