HRM 3430 Lecture Notes - Lecture 3: Competitive Intelligence, Social Policy, Baby Boomers

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: Leigh Lampert

Document Summary

Hrm strategy is determined primarily by organizational strategy. But environmental factors shape hrm strategy, so hr managers and planners must continually monitor the environment. Typically, they scan by reading publications, retaining memberships in professional associations, attending conferences, or using professional scanners. A number of methods, such as trend and impact analyses, scenario planning and the delphi technique, are used to identify future trends. Monitored environmental factors include economic climate, the labour market, the political and regulatory climate, demographics and social norms. Stakeholders such as shareholders, unions, customers, employees and executives contribute strongly to the formulation and implementation of strategy. Environmental scanning: systematic monitoring of the major factors influencing the organization. Goal is to identify trends within the external environment that might affect formulation and implementation of both organizational and hr strategies. External environment: anything outside organizational boundaries that might influence an organization. The external environment is not part of the organization but is tightly integrated with it.