HRM 2600 Chapter 2: Chapter 2

• School: York University
• Department: Human Resources Management
• Course: HRM 2600
• Professor: Shelley Millman

Document Summary

Chapter 2 strategy and human resources planning organization"s long-term goals and strategies. Increased emphasis on hr issues becomes especially critical when organizations consider global strategies, mergers, relocation of plants, innovation, downsizing, outsourcing, offshoring, or the closing of operating facilities. Whether the types and numbers of people are available to pursue a given strategy: strategy implementation once strategy is devised, executives must make primary resource allocation decisions. Competitive environment: analysis of the firm"s competitive environment is central to strategic planning. In strategic planning, firms analyze the competitive environment in order to adapt to or influence the nature of competition: the more power the force has, the less profitable the industry will be. Rival firms: need to know who is your competition, need to think outside the, example: toys r us walmart wasn"t a toy store but moved into box toys successfully. New entrants: to protect their position, companies try to establish entry barriers tot keep new firms out of the industries.