MANA 463 Lecture Notes - Lecture 1: Strategic Planning, Strategic Management, Competitive Advantage

• School: Concordia University
• Department: Management
• Course: MANA 463
• Professor: Domenic Peltier- Rivest

Document Summary

Common theme among many companies: adapting organizational strategies to include hrm is essential. If hrm strategies are not skillfully applied, they can negatively affect organizational strategy. Strategic management of people through hr programs and policies helps to ensure positive organizational outcomes, such as: profitability customer satisfaction employee performance organizational survival. Strategy (how are we going to get there) The formulation of organizational objectives, competitive scopes, and action plans for gaining advantage. The plan for how an organization intends to achieve its goals. The organization"s strategy: the means it will use, the courses of action it will take, and how it will generally operate and compete. Strategies do not always achieve the goals and objectives as planned. However, it is important to be adaptable to the external environment so that the strategy can continue to be monitored and changed if necessary.