MGHB12H3 Chapter Notes - Chapter 2: Human Resource Management, Strategic Planning, Spare Parts Management

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2 Jul 2017
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Chapter 2: Strategy and Human Resource Planning
Strategic planning: procedures for making decisions about the
organization’s long-term goals and strategies
Human resource planning (HRP): the process of anticipating and
providing for the movement of people into, within, and out of an
organization
Strategic human resource management: the pattern of human resources
deployments and activities that enable an organization to achieve its
strategic goals
Linking Strategic planning and HR planning
o Strategy formation
HRP provides inputs: what is possible, whether a firm has the
types and number of people available to pursue the strategy
o Strategy implementation
Once they come up with a strategy, they need to implement
it
Decisions relating to firm’s structure, process, and human
capital
o Most effective when there is reciprocal process between both
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STEP 1: Mission, Vision, and Values
o Mission: the basic purpose of the organization as well as its scope of
operations
Statement of organizations reason for existing
o Strategic vision: a statement about where the company is going
and what it can become in the future; clarifies the long-term
direction of the company and its strategic intent
o Core values: the strong and enduring beliefs and principles that the
company uses as a foundation for its decisions
How company will act towards customers, employees, and
public
Values capture philosophy of company culture
STEP 2: Environmental Analysis
o Analysis of external threats and opportunities
o Environmental scanning: systematic monitoring of the major
external forces influencing the organization
o Six issues monitored frequently
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Economic factors and development information, including
general, regional, and global conditions
Industry and competitive trends, including new processes,
services, and innovations
Technological changes, including information technology,
innovations and automation
Government and legislative issues, including laws and
administrative rulings
Social concerns, including childcare, eldercare, the
environment, and educational priorities
Demographic and labour market trends, including age,
composition, and literacy of labour market and immigration
o Competitive environment: specific organizations with which the firm
interacts
The more power each force has, the less profitable the
industry will be
Customers
Focus on creating customer value
Excellent customer service attitudes
o Speed of delivering normal orders
o Willingness to meet extraordinary needs
o Merchandise delivered in good condition
o Readiness to take back defective goods and
resupply new goods quickly
o Availability of installation and repair service parts
Rival firms
Who is the main competition? This question should be
answered first
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