Textbook Notes (363,264)
Canada (158,281)
Commerce (1,634)
Chapter 2

CHAPTER 2 Strategic Human Resource Management.docx

4 Pages
Unlock Document

McMaster University
Frances L Tuer

CHAPTER 2: STRATEGIC HUMAN RESOURCE MANAGEMENT Business Model - how a firm will create value for customers and be profitable. Strategic Human Resource Management (SHRM) - A pattern of planned human resource deployments and activities intended to enable an organization to achieve its goals. Strategy Formation - The process of deciding on a strategic direction by defining a company's mission and goals, its external opportunities and threats, and its internal strengths and weaknesses Strategy Implementation - The process of devising structures and allocating resources to enact the chosen strategy A Model of the Strategic Management Process - A firms strategic management decision making process usually takes place at its top levels, with a strategic planning group. Role of HRM in Strategy Formulation Administrative Linkage - focused on day to day activities, engages in administrative work unrelated to the company's core business needs. [lowest level of integration] One-Way Linkage - HRM function is to design systems that implement the strategic plan Two - Way Linkage - the strategic planning team informs the HRM function of the various strategies the company is considering -->HRM analyze the HR implications--> HRM develops programs to implement. Integrative Linkage - HRM is involved in both formulation and implementation. STRATEGY FORMULATION 5 Major components of the strategic management process: 1. Mission - A statement of the organizations reason for being. 2. Goals - What an organization hopes to achieve in the medium to long-term future. 3. External Analysis - Examining the organizations operating environments to identify strategic opportunities and threats 4. Internal Analysis - The process of examining an organizations strengths and weaknesses. 5. Strategic Choice - The organizations strategy; the ways an organization will attempt to fulfill its mission and achieve its long-term goals. STRATEGIC IMPLEMENTATION - An organization has a variety of structural forms and organizational processes to choose from when implementing a given strategy. - HRM ensures the company has the proper number of employees with the skill required by the strategic plan - HRM develops control systems that ensure employees act to promote the achievement of goals. Vertical Alignment - HR practices and processes are aimed at addressing the strategic needs of the business. How does HRM function implement strategy? - Through administering HRM practices: job analysis/design, recruitment and selection, training and development programs, performance management systems, reward systems, employee/labour relations programs. Role Behaviours - Behaviours that are required of an individual in his/her role as a jobholder in a social network environment Direction Strategies Strategic Typologies - useful for classifying the ways different organizations eek to compete within an industry External Growth Strategy - acquiring vendors and suppliers/ buying business for expansion. - For those attempting to integrate vertically or horizontally or to diversify Concentration Strategies - Strategy focusing on increasing market share, reducing co
More Less

Related notes for COMMERCE 2BC3

Log In


Don't have an account?

Join OneClass

Access over 10 million pages of study
documents for 1.3 million courses.

Sign up

Join to view


By registering, I agree to the Terms and Privacy Policies
Already have an account?
Just a few more details

So we can recommend you notes for your school.

Reset Password

Please enter below the email address you registered with and we will send you a link to reset your password.

Add your courses

Get notes from the top students in your class.