HRM 1110 Lecture Notes - Lecture 2: Strategic Planning, Strategic Management, Human Capital
Document Summary
Intended: is formulated at the beginning of the period: strategy planning: objectives, competitive scopes, and action plans, realized strategy is what actually happened, corporate strategies: focused on overall strategy, business strategies: Strategic hrm: strategic hrm: philosophies, policies, and practices to enable the achievement of the organizational strategy, how influential is hr today, emerging view: payroll, administrative, function: ksaos (strategic side, focuses on peoples" behaviours and practices; Theories of the strategic management of human resources. Hrm making strategic contributions: from: hr as personnel management (administrative functions and costs to organizations, to: hr implementation of high-performance hr systems significantly predicted various organizational performance indicators (selecting hiring, extensive training & competitive advantage) Resource base view: people we bring must be valuable, unique, rare, hard to substitute. Contingency perspective of hrm: hr practices contribute to high performance, they may be more cost effective for businesses that pursue a differentiation strategy than for those implementing a low-cost strategy.
