Management and Organizational Studies 3383A/B Lecture Notes - Lecture 1: Strategic Planning, Strategic Management, Customer Satisfaction

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3383A/B
• Professor: Linda Eligh

Document Summary

Adapting org 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: the formulation of organizational objectives, competitive scopes, as well as action plans for gaining advantage (plan for how an org intends to achieve its goals) Strategic intent: a tangible corporate goal; a point of view about the competitive positions a company hopes to build over a decade. Strategic planning: the systematic determination of foals and the plans to achieve them. Strategy formulation: the entire process of conceptualizing the mission of an org, identifying the strategy, and developing long-range performance goals. Strategy implementation: those activities that employees and managers of an organization undertake to enact the strategic plan, to achieve the performance goals. Plans: the product of strategy, the means to the end.