Strategic Human Resource Management Chapter 3

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Strategic Human Resource Management Chapter 3

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1. Strategic Human Resource Management Chapter 3

2. 3–2 John 8:25 "Who are you?" they asked. John 13:36 Simon Peter asked him, "Lord, where are you going?"

3. After studying this chapter, you should be able to: Outline the steps in the strategic management process. Explain and give examples about competitive strategy.

4. 3–4 Thinking Strategically: The Three Big Strategic Questions (Even for Christians) Who are you? John 8:25 2. Where are you going? John 13:36 3. How will you get there?

5. 3–5 Overview of Strategic Management

6. 3–6 Lost At Sea You are adrift on a private yacht in the South Pacific. As a consequence of a fire of unknown origin, much of the yacht and its contents have been destroyed. The yacht is slowly sinking. Your location is unclear because of the destruction of critical navigational equipment and because you and the crew were distracted trying to bring the fire under control. Your best estimate is that you are approximately one thousand miles south-southwest of the nearest land. You saved 15 items that are intact and undamaged after the fire. In addition to these articles, you have a serviceable rubber raft (with oars) large enough to carry you, the crew, and all the items saved. Your task is to rank the fifteen items below in terms of their importance to your survival. Place the number 1 by the most important item, the number 2 by second most important and so on through number 15, the least important.

7. 3–7 HR’s Strategic Challenges Strategic plan A company’s plan for how it will match its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage. Three basic challenges The need to support corporate productivity and performance improvement efforts. That employees play an expanded role in employers’ performance improvement efforts. HR must be more involved in designing—not just executing—the company’s strategic plan.

8. 3–8 The Strategic Management Process Strategic management The process of identifying and executing the organization’s mission by matching its capabilities with the demands of its environment. Strategy A strategy is a course of action. The company’s long-tem plan for how it will balance its internal strengths and weaknesses with its external opportunities and threats to maintain a competitive advantage.

9. 3–9 Business Mission and Its Vision Vision A general statement of its intended direction that evokes emotional feelings in organization members. Mission Spells out who the company is, what it does, and where it’s headed.

10. 3–10 Strategic Management Process (cont’d) Strategic management tasks Step 1: Define the Business and Its Mission Step 2: Perform External and Internal Audits Step 3: Translate the Mission into Strategic Goals Step 4: Formulate a Strategy to Achieve the Strategic Goals Step 5: Implement the Strategy Step 6: Evaluate Performance

11. 3–11 John 8:25 "Who are you?" they asked. John 13:36 Simon Peter asked him, "Lord, where are you going?"

12. After studying this chapter, you should be able to: Outline the steps in the strategic management process. Explain and give examples about competitive strategy.

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