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Commerce (1,696)
Chapter 2

Human Resources Management Chapter 2.docx

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Department
Commerce
Course
COMMERCE 2BC3
Professor
Mckenzie Wang
Semester
Winter

Description
HRManagementChapter2A business model is a story of how the firm will create value for customers and more importantly how it will do so profitably What is Strategic ManagementStrategic management is a process an approach to addressing the competitive challenges an organization faces It can be thought of as managing the pattern or plan that integrates an organizations major goals policies and action sequences into a cohesive wholeFirst business organizations engage in generic strategies that often fit into some strategic type The second aspect of strategic management is the process of developing strategies for achieving the companys goals in light of its current environmentStrategic human resource managementA pattern of planned human resource deployments and activities intended to enable an organization to achieve its goalsStrategy formulationThe process of deciding on a strategic direction by defining a companys mission and goals its external opportunities and threats and its internal strengths and weaknessesStrategy implementationThe process of devising structures and allocating resources to enact the chosen strategyFour levels of integration seem to exist between the HRM function and the strategic management functionAdministrative linkageoThe HRM functions attention is focused on daytoday activitiesoThe HRM department is completely divorced from any component of the strategic management process in both strategy formulation and strategy implementationOneway linkageHuman Resources Management Chapter 21
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