Chapter 1: Strategic Role of HRM Strategic Role of Human Resources Management Human Resources Management (HRM): management of people in organizations to drive successful organizational performance and achievement of organization's strategic goals - Attract, retain, engage diverse talent - Hire best, develop talent, create productive work environment ** HR Strategy align with Company Strategy Better HR practices = Better Organizational performance Which practices? ○ Profit Sharing Result
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GLOBAL BUSINESS STRATEGIES Analysis of the Global Competitive Environment Lecture 2 Analysis of the global competitive environment • External analysis can be divided into 2 linked processes: – Micro‐environmental analysis • competitive or near environment ‐ industry, market & strategic group – Macro‐environmental analysis • broad business or far environment STEP analysis • External analysis identifies opportunities and threats through continuous learning about the global and local business
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1. How does the resource-based view (Barney, 1986, 1991; Peteraf, 1993) explain differences in performance among firms? The resource-based view, abbreviated RBV, is a school in which a firm’s strategy is taken into account from the point of a firm’s resources and capabilities. Compared to other theorists on strategy, for example Porter, who focus is on the environment of the firm, the RBV emphasizes on the impact of idiosyncratic attributes of the firm on its competitive position (Barney, 1991).
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globalization where businesses have expanded across the globe, competition has increased and has formed a new dynamism in the industry and the market itself. Every company works extra ordinarily to compete with its rivals and sustain its position in the industry. Well planned strategies are developed to give businesses a focused path to follow in order to achieve the aims and objectives of the firm. Labor is the most valuable asset in the whole process. Thus, keeping workers happy and satisfied is a challenge
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company goals because the company really didn’t understand the customer taste and preference. Anheuser-Bush entry into China was in 1993 through 5% participation to the capital of Tsingtao brewery, the internationally renowned Chinese brewer based on the East coast and later in February 1995, through a $140 Million acquisition of 80% stake in Zhongde Brewery, a large brewery in Wuhan, in Hubei province, eastern China. The company produced its global brand “Budweiser” in Wuhan and engaged a massive
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USA Perhaps the most important, yet underutilised resources in customer relationship management are salespeople. Drawing upon literature from social network theory, personal selling, sales management, and industrial buying behaviour, buying centre mapping is proposed as a tool for salespeople to improve customer relationship management (CRM). A framework linking a salesperson’s systematic mapping of buying centre structure to the CRM strategy development and implementation is outlined. Implications
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actions that is supported by Porter’s Five Forces explaining about its relationship with the new entrants, buyers, suppliers, substitute product and services and intensity of rivalry and also strategic groups is used to detect the company competitive position. The third evaluation that is internal environment explained about the situation which can impact
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definitions and about resources and goals). Rule of successful management .Difference between management and administration Management definitions: * The process of organizing methods ,manpower and other resources to achieve organizational goals * Is more than art and science Managing is working with and through people to accomplish the objectives of both the organization & its members. * It means art or skills of directing human activities and physical resources in the attainment of
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School of Management Tel: 024 361 2028 E-mail: h.vankranenburg@fm.ru.nl Strategic Principles • Identify the strengths and weaknesses of a particular corporate strategy • Stakeholder engagement and growning power of civil society • Process by which strategic vision is conceived, communicated and institutionalized CSR Models Position Minimalist Self interested Responsible to Stockholders/ owners therefore… Maximizing profit Stockholders/ owners/ Do good when cost “controllers” furthers
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to plan to a degree to work around this issue and be successful. The success of any strategy in regards to business deals with the scanning of both internal and external environment to evaluate which factors most greatly affect the business. Companies should also examine their management styles from development to execution in order to develop proper planning strategy. As we know companies employ these strategies to gain advantages or protect their place in their specific market. LVMH is no different
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