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Chapter 2

HRM 2600 Chapter Notes - Chapter 2: Delphi Method, Succession Planning, Layoff


Department
Human Resources Management
Course Code
HRM 2600
Professor
Indira Somwaru
Chapter
2

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Chapter 2 / Lecture 2
Strategic Planning – when a company engages in strategic planning it
is making decisions about
the organizations long-term goals and strategies.
HR Planning (HRP) – to have the right people in the right place, at the
right time.
A perfect situation would be demand for labour = supply of labour
Stra tegic Human Resources Management (SHRM) combines strategic
planning and HR planning. The pattern of human resources
deployments and activities that enable an organization to achieve its
strategic goals.
Strategy formulation—providing input as to what is possible
given the types and numbers of people available. – Indigo
addressing whether they had the talent needed to succeed in
Web-based commerce.
Strategy implementation—making primary resource allocation
decisions about structure, processes, and human resources.
Strategic Planning – three steps
Step 1
1. Define Mission of Organization identify the purpose of
organization and its scope of
operations.
2. Strategic Vision where company is going and clarifies long-
term intent.
3. Core Values the strong and enduring beliefs and principles
that the company uses as a
foundation for its decisions.
Step 2
Conduct and Environmental Analysis systematic monitoring of the
major external forces
influencing the organization.
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When planning a new strategy, a company needs to think about
these trends:
a) Economic Factors general/regional
b) Competitive trends new processors, services, innovation
c) Technological Changes automations (self check out)
d) Government and Legislative Issues new laws
e) Social Concerns lifestyle, buying habits
f) Demographic and Labour Market Trends age and
composition
Loblaws
1. Recession beginning
2. Walmart Superstores selling food – superstores non-union
3. Self Check out, mouldy fruit (lacks logistics)
4. Green products, less trans fats
5. Organic, ethnic goods
SWOT ANALYSIS
Strengths & Weaknesses = Internal Factors
Opportunities & Threats = External Factors
McD’s
Strengths international expansion, marketing, team work,
production system, value, customer
service, flexibility, fast service, strategic
Weaknesses unhealthy food, inflexible in thinking, bad publicity
Opportunities international expansion, healthy foods, premium
coffee, re-branding, customer
Loyalty
Threats obesity crisis, competitors, bad publicity/critics
**Five Forces Framework – New Entrants, Customers, Substitutes,
Suppliers, Rival Firms**
Step 3
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