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Transcript of asasasasas
-generally under the control of the company Internal Environment -environment that exists outside the firm
-has significant impact on HRM Policies and practices
-helps to determine the values, attitudes, and behavior that employees bring to their jobs External Environmental Opportunities and Threats Strategy Formulation -strategic planning/long stage planning
-develops Mission, Objectives, Strategies, Policies
-process of finding a strategic fir between external opportunities and internal strengths while working around external threats and internal weaknesses Strategic Implementation by Wright, Kroll and Parnell The Strategic Management Model Physical Element -geography, climate, and other physical characteristics of the area in which the organization is located
-can help or hinder a firm's ability to attract and retain employees Technological Element -provides a basis for an organization to attain the productivity and quality it needs to gain a competitive advantage Social Element -health care, retirement and safety issues
-freedom, rights, benefits of the job Political Element -understand the regulatory system in order to function effectively Economic Element -determine whether to hire or lay off employees
-affect employer's ability to increase employee's pay or benefits Physical Element -factors such as air quality, temperature, noise, duct, radiation, and other conditions affecting employee health and safety Technological Element -layout of the workplace; process by which the work is performed; tools, machinery and equipment used to perform work Social Element -reflects the attitudes and behaviors of managers and employees Political Element -important social process found in all organizations
-with great power come great responsibilities Economic Element -reflects the organization's Financial conditions
-the more favorable this condition, the more financial sources the organization will have Corporate Strategy -deals with the decisions that concern the overall corporation
-it occupies the highest level of strategic decision-making Business Unit Strategy -concentrate on improving the competitive situation of the corporation by asking how an organizational subsystem can compete in its business.
-business unit strategies are undoubtedly closely linked with the corporate strategy and vice versa Functional Strategy -refers to the approach a functional area takes to achieve corporate and business unit objectives and strategies by maximizing resource productivity.
-do not merely combine the functional requirements (functions of operations, marketing, human resources, finance)
-insisted by the corporate and business strategies, they comprise the capabilities considered necessary to balance customer value and competitive advantage -concerned with tracking the strategy as it is being implemented and its effectiveness, detecting any problems in areas or potential problems that may occur in the organization and making any necessary solutions and adjustments Strategic Control END the process that turns strategies and plans into actions in order to accomplish strategic objectives and goals
Action Planning *chronological lists of action steps (tactics) which add the necessary detail to their strategies
*assign responsibility to a specific individual for accomplishing each of those action steps
set a due date and estimate the resources required to accomplish each of their action steps. Organizational Structure *ask if their intended strategy fits their current structure
"Is the Organization's current structure appropriate to the Intended Strategy?"
Human Resource Factors First, consideration of human resources requires that management think about the organization's communication needs. That they articulate the strategies so that those charged with developing the corresponding action steps (tactics) fully understand the strategy they're to implement. Second, managers successful at implementation are aware of the effects each new strategy will have on their human resource needs. They ask themselves the questions... "How much change does this strategy call for?" And, "How quickly must we provide for that change?" And, "What are the human resource implications of our answers to those two questions?" The Annual Business Plan Organizations successful at implementation are aware of their need to fund their intended strategies. And they begin to think about that necessary financial commitment early in the planning process. First, they "ballpark" the financial requirements when they first develop their strategy. Later when developing their action plans, they "firm up" that commitment. As a client of ours explains, they "dollarize" their strategy. That way, they link their strategic plan to their annual business plan (and their budget). And they eliminate the "surprises" they might otherwise receive at budgeting time. Monitoring & Control includes a periodic look to see if you're on course. It also includes consideration of options to get a strategy once derailed back on track. Those options (listed in order of increasing seriousness) include changing the schedule, changing the action steps (tactics), changing the strategy or (as a last resort) changing the objective Linkage -tying together of all the activities of the organization...to make sure that all of the organizational resources are "rowing in the same direction."
-It isn't enough to manage one, two or a few strategy supporting factors. To successfully implement your strategies, you've go to manage them all. And make sure you link them together.