COMMERCE 2BC3 Chapter Notes - Chapter 2: Hierarchical Organization, Experience Curve Effects, Flexible Spending Account
15 Oct 2016
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Document Summary
Business organizations exist in an environment of competition. They use several resources to compete with other companies. Physical (plant, equipment, technology, and geographic location) Organizational (the structure, planning, controlling, and coordinating systems, and group decisions) Human (the experience, skill, and intelligence of employees) These resources give the company an competitive advantage. The goal of strategic management in an organization: To deploy and allocate resources in a way that gives it a competitive advantage. The major challenges faced by organizations today (sustainable, technological & global) require companies to take a proactive, strategic approach in the marketplace. Both in people related issues & in terms of the ability of the hr pool to implement particular strategic alternatives. Have specific knowledge of the organization"s strategic goals. Know what types of employee skills, behaviours, and attitudes are needed to support the strategic plan. Develop programs to ensure that employees have those skills, behaviours, and attitudes.
