HRM 3430 Chapter Notes - Chapter 1: Swot Analysis, Career Development

• School: York University
• Department: Human Resources Management
• Course: HRM 3430
• Professor: all

Document Summary

Strategy the formulation of organizational missions, goals, objectives and actions plans. Plan intended course of action a firm has selected to deal with a situation. Purpose a consistent stream of actions that sometimes are the result of a deliberate plan and sometimes the result of emergent actions based on reactions to environmental changes or shifting of assumption. Play a specific manoeuvre at the tactical level with a short time horizon. Position the location of an organization relative to its competition and horizon. Perspective the gestalt or personality of the organization. Emergent strategy the plan that changes incrementally due to environmental changes. Realized strategy the implemented plan: corporate strategy organizational-level decisions that focus on long-term survival. Restructuring strategies: when an organization is not achieving its goals thus it must restructure through turnaround, liquidation and bankruptcies. Turnaround strategy: an attempt to increase the viability of an organization (include getting rid of unprofitable products, and layoff)