HRM 3430 Chapter 1: Chapter 1 - Introduction to Strategic HRM
28 Oct 2011
School
Department
Course
Professor
Document Summary
The means a company will use, the courses of action it will take and how it will generally operate and compete constitute its strategy. Various situations can trigger a change in strategy: Catastrophic events: september 11th airline industry, recession financial industry. Trigger events: new ceos or owners, performance gap when sales or profit targets are not being met, strategic inflection point rapid changes in technology, customer preferences or industry regulations. Emergent strategy the plan that changes incrementally due to environmental changes. The intended strategy is one that was formulated at the beginning of the period. An attempt to increase the viability of an organization. Where managers try to restore money-losing businesses to healthy profitably or government agencies to viability. Methods include: getting rid of unprofitable products, layoffs, make the organization more efficient, attempting to reposition it with new products. The sale of a division or part of an organization.
