MGHB12H3 Lecture Notes - Lecture 2: Strategic Planning, Strategic Management, Succession Planning
Document Summary
Strategic planning: procedures for making decisions about the. Joint ventures: mergers, offshoring, relocation of plants, product innovation plans, downsizing. All of these are making hrp more critical and complex. Increased globalization has increased competitiveness in prices but also it is making talent the greater differentiator between firms. Dramatic shifts in the labour force requires a greater emphasis on hrp. Includes decisions related to the firm"s structure, processes and human capital. Integration of hrp and strategic planning tends to be most effective when there is a reciprocal relationship between the two processes: strategic planning decisions affect and are affected by hr concerns. Step by step process on integrating hrp and strategic planning. Competitive environment: factors in the general environment can affect a company"s strategic decisions which is why analyzing the firm"s competitive environment is central to, competitive environment includes: strategic planning, firms customers, rival firms, new entrants, substitutes, suppliers.
