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Lecture 3

HR Planning –Lecture 3.docx

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Department
Administrative Studies
Course
ADMS 3430
Professor
Mark Podolsky
Semester
Winter

Description
HR Planning –Lecture 3 Value Chain • The way value is created • What is a company is doing to create and capture value  • Helps figure out an organizations strategy Formulating Strategy • Goals, product market focus, core activities and value proposition • What the company does and strive to capture value in order to appeal to the  customers • Must understand that customers are different in there needs, they are  heterogeneous  • Note that customers tastes/values and or needs change over time Diamond Framework • Organizations are open systems, therefore cannot control external environmental  factors • Must understand that a firms strategy (goals, value proposition, product market  focus, and core activities) must align with the external environment (Porters 5  Forces, SWOT­ PEST analysis 
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