COMMERCE 2BC3 Chapter Notes - Chapter 2: Strategic Management, Gross Margin, Performance Management
30 Jan 2017
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(cid:885) resources that give competitive advantage : physical (e. g. technology, plant, organizational (e. g. planning, structure, human (e. g. experience, skill) Goal of strategic hrm to deploy and allocate resources in a way that gives it a competitive advantage. Story of how the firm will create value for customers and how to make a profit. Components of the strategic management process: deployments and activities intended to enable an organization to achieve its goals (cid:498)strategic (uman resource management (cid:523)s(rm(cid:524)(cid:499) = pattern of planned hr. Defines company(cid:495)s mission and goals, external opportunities + threats and internals strength + weakness: strategy formulation, strategy implementation. Devising structures and allocating resources to enact the chosen strategy. 4 levels of integration between hrm function & strategic management function : administrative linkage. Focused on day-to-day activities: 1-way linkage. Makes strategic plan and informs hrm function of the plan: 2-way linkage. Informs plan to hrm, execs analyze hr implications, present results to execs: integrative linkage.
