A strategy is a way of doing something. It usually includes the formulation of a goal and set of action plans for accomplishment for that goal. Strategic management may be understood as the process of formulating, implementing and evaluating business strategies to achieve organizational objectives.
"Strategic management is that set of managerial decisions and actions that determine the long term performance of a corporation. It includes environmental scanning, strategy formulation, strategy implementation and evaluation & control"
Corporate strategies and policies has great impact as human resource management. Strategy gives direction to the organization. A strategy when aligned with firms resources gives the firms a competitive advantage. Strategy HRM is process of optimum utilization of HR to achieve the organizational objectives through aligning HR goals with organizational strategies.
Strategies are formulated at three level:
Corporate Strategies are developed by top management of an organization. It may be growth strategy (diversification, expansion, mergers), stability strategy, retrenchment strategies, unit level and function strategy are developed consistence with corporate strategies.
Implementation of strategies requires various action like adding departments, changing prices and more importantly effective management of people.
Role of HR in Strategy formulation:
HR manager supplies competitive intelligence for strategy formulation. Strategy and weakness of HR has its influence on the viability of the company's strategic options.HR manager needs to play a more strategic role become a member of strategic management process. More firms are integrating HRM into strategic management realising the role played by the people in contributing to organizational effectiveness. Organizational and human resource plans and strategies are getting inextricably linked.
Role in strategy implementation:
HR has a great implementation of strategies. e.g., HDFC Strategic differentiate itself from competitors by providing buyers services at attractive rates, its implementation possible due to its competent workforce.
HR practices brings in competitiveness in strategy implementation, create a capacity for change and bring in a strategic unity. Implementation is facilitated by HRM by
a) encouraging proactive thinking rather than reactive behavior,
b)Explicit communication of goals,
c) Stimulation of clinical thinking,
d) Improving productivity and quality as an HR based strategy.
Role in Strategy management:
Through proper staffing in the organization, building core competences and competitive abilities and by effective structuring of the organization.
"Strategic management is that set of managerial decisions and actions that determine the long term performance of a corporation. It includes environmental scanning, strategy formulation, strategy implementation and evaluation & control"
Corporate strategies and policies has great impact as human resource management. Strategy gives direction to the organization. A strategy when aligned with firms resources gives the firms a competitive advantage. Strategy HRM is process of optimum utilization of HR to achieve the organizational objectives through aligning HR goals with organizational strategies.
Strategies are formulated at three level:
- Corporate level
- Business unit level and
- Functional level
Corporate Strategies are developed by top management of an organization. It may be growth strategy (diversification, expansion, mergers), stability strategy, retrenchment strategies, unit level and function strategy are developed consistence with corporate strategies.
Implementation of strategies requires various action like adding departments, changing prices and more importantly effective management of people.
Role of HR in Strategy formulation:
HR manager supplies competitive intelligence for strategy formulation. Strategy and weakness of HR has its influence on the viability of the company's strategic options.HR manager needs to play a more strategic role become a member of strategic management process. More firms are integrating HRM into strategic management realising the role played by the people in contributing to organizational effectiveness. Organizational and human resource plans and strategies are getting inextricably linked.
Role in strategy implementation:
HR has a great implementation of strategies. e.g., HDFC Strategic differentiate itself from competitors by providing buyers services at attractive rates, its implementation possible due to its competent workforce.
HR practices brings in competitiveness in strategy implementation, create a capacity for change and bring in a strategic unity. Implementation is facilitated by HRM by
a) encouraging proactive thinking rather than reactive behavior,
b)Explicit communication of goals,
c) Stimulation of clinical thinking,
d) Improving productivity and quality as an HR based strategy.
Role in Strategy management:
Through proper staffing in the organization, building core competences and competitive abilities and by effective structuring of the organization.
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