HRM 3430 Midterm: midterm notes HRP 1

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: Althea Gordon

Document Summary

Strategy = planned process where a firm maps-out theirs goals & ways to meet them (get a competitive advantage) ^it"s intended (made at the start of the process) or realized (what happens, things change along the way) ^strategy can be emergent (reactive, changing to adapt to the environment) Hr planners work with everyone to ensure strategies are carried out (corp. wide strategies focus on big picture & long term) Business strategies = focus on one line of business & build a strong competitive position. Strategic hr management = needed throughout hrp for positive outcomes [profit, customer satisfaction, employee performance (high efficiency & morale), organization survival] Strategy is a purpose & plan, resources are allocated to achieve them, it must be in measurable terms. (r don"t set corp. strategies, but make programs that support them (cid:523)you need to find the right ppl) Execution of strategy = define a vision, have measurable goals, make a plan, implement the plan, measure results.