Strategic Workforce Management

In: Business and Management

Submitted By jefffa
Words 885
Pages 4
Strategic workforce management

Name

Institution

Course

Date

Strategic workforce management

How reward, benefits and employee development systems are aligned with strategy in my organization

Notably, organizational strategies that are not aligned with reward, benefit and employee development usually lead ineffectiveness and failure to meet set target and objectives. My organization has a reward program that is designed to support our unique human capital strategy. Instead of replicating reward practices of other organizations, my organization has trained our employees to adapt to our side of business design. Ideally, reward programs that are not strategically integrated and delivered effectively give quite different outcome from original intention. Furthermore, my organization ensures that employee benefits have responsible personnel who do follow up of employees benefit compensation. This ensures that all employees get their benefits without making many trips to the Human Resource department. Finally, our employee development programs always aim at training our employees about the strategies and objectives of our organization. Generally, an effective reward, benefit and employee development integrated with organizational strategies ensure that there is efficient delivery of value in the organization (Heneman, 2002 P 76).

A, B and C players according to Huselid, Beatty and Becker

According to Huselid, Beatty and Becker A players are people in an organization who are very influential and have a direct strategic impact. In addition, workers in position A show high performance in all their assigned tasks. B players have indirect impact on organizational strategies and evidently support the positions that have to create value in an organization (Huselid, Beatty & Becker, 2005, December, pg 115). C position players have little…...

Similar Documents

Strategic Management

...1.0 Strategic Management Process It is a process that describes the responsibilities a particular firm undertakes in order to attain strategic competitiveness over other companies and acquire more than the expected average return. (Ireland, Hoskisson and Hitt, 2010) Figure 2.1.1 The External Environment Strategic Entrepreneurship Strategic Leadership Organizational Structure and Controls Corporate Governance Cooperate Strategy Corporate Level Strategy International Strategy Merger and Acquisition Strategies Competitive rivalry and competitive Dynamics Business Level strategy Strategic Inputs Vision Mission The Internal Organization Strategic Actions Source: The management of Strategy Concept and Cases, Ireland, Hoskisson, Hitt, 9th Edition Feedback Strategic Outcomes Competitiveness Above average Returns Strategy Implementation Strategy Formulation Above is the diagram which summarizes the three main types of strategic management processes that are Strategic Analysis, Strategic Formulation and Strategic Implementation. It also shows how the three components are combined together and the contribution of the three components to the strategic management process. 2.0 Strategic Analysis The strategic analysis comprises of the internal and external environment of the company. Internal analysis of the company identifies the strength and weakness of a company while the external analysis identifies the opportunities and threats for a......

Words: 6907 - Pages: 28

Strategic Management

...Strategic Management Strategic Human Resources Management June 18, 2013 Introduction What is strategic management and why is it critical to the success of an organization in meeting its goals and mission? Strategic Management is essential for the success of any business. It is critical for any organization to properly plan and implement that plan that will align the organization’s strategy to key objectives. In a nutshell, strategic management can be defined as the process where an organization performs an analysis on what needs to happen in order to achieve and meet the objectives of the organization (Mello, 2011). In other words, it is the process utilized by top management in order to align the organization to the environment. The process of strategic management includes the organization’s mission statement, an analysis of the environment, the organization’s self-assessment, setting goals and objectives, and setting a strategy (Mello, 2012). Apple Inc. is a great example as to why strategic planning is critical for the success of any organization. Background What started at a family garage by Steve Jobs and Steve Wozniak, is now a multibillion-dollar corporation. Back in the late 70s, Jobs and Wozniak built the very first Apple, a computer circuit board named Apple I. After several months, they sold 200 of them. Shortly after that, Jobs and Wozniak partnered with Mike Markkula, a 33 year old retired millionaire. Together with Markkula as the businessman and......

Words: 1197 - Pages: 5

Strategic Management

...This article was downloaded by: [Academy of Management] On: 11 February 2014, At: 16:20 Publisher: Routledge Informa Ltd Registered in England and Wales Registered Number: 1072954 Registered office: Mortimer House, 37-41 Mortimer Street, London W1T 3JH, UK The Academy of Management Annals Publication details, including instructions for authors and subscription information: http://www.tandfonline.com/loi/rama20 An Aspirational Framework for Strategic Human Resource Management Susan E. Jackson , Randall S. Schuler & Kaifeng Jiang a b a a School of Management and Labor Relations, Rutgers University b Mendoza College of Business, University of Notre Dame Accepted author version posted online: 04 Dec 2013.Published online: 04 Dec 2013. To cite this article: Susan E. Jackson, Randall S. Schuler & Kaifeng Jiang (2014) An Aspirational Framework for Strategic Human Resource Management, The Academy of Management Annals, 8:1, 1-56, DOI: 10.1080/19416520.2014.872335 To link to this article: http://dx.doi.org/10.1080/19416520.2014.872335 PLEASE SCROLL DOWN FOR ARTICLE Taylor & Francis makes every effort to ensure the accuracy of all the information (the “Content”) contained in the publications on our platform. However, Taylor & Francis, our agents, and our licensors make no representations or warranties whatsoever as to the accuracy, completeness, or suitability for any purpose of the Content. Any opinions and views expressed in this publication are the opinions and......

Words: 23604 - Pages: 95

Strategic Management

...------------------------------------------------- Introduction to strategic management report: August 2013 Company: Mace Group Ltd. Zahid Table of contents 1. Introduction 1 2. Mace Group: A brief overview 1 3. Strategic analysis 2 3.1 Industry Analysis 2 3.1.1 Porter’s five forces 2 3.2 Strategy Description 4 3.2.1 Ansoff Matrix 5 3.3 Strategy Evaluation 5 SWOT analysis 6 Strengths 6 Weaknesses 7 Opportunities 7 Threats 7 3.4 Strategic Issues 8 3.5 Strategic Recommendations 8 4. Strategy formulation 9 5. Strategy implementation 12 6. Conclusion 14 References 15 Table of figures Figure 1: Porter's five forces model 2 Figure 2: Ansoff Matrix 5 Figure 3: SWOT analysis 6 Figure 4: Strategic formulation and implementation 9 1. 2. Introduction Strategic management is the integratedaction to manage the resources and performance of the firm, aiming the optimum output. The whole process initiates with the commencement of specific mission and visionary objectives for the organization, following the policies and plans required to achieve these. In simple sense, strategic management is the combination of strategic analysis, strategy creation, implementation and monitoring(Thompson, 2001). The final outcome is the competitive advantage which in turn ensures the sustainability of the firm for the long run. According to Rothaermel, F. T. (2012) strategic management is an integrative management field that combines analysis, formulation, and......

Words: 4437 - Pages: 18

Strategic Management

...University Of Texas at Dallas : BPS 6310 - MBC | Strategic Control & Organizational Design – Second Operating System | Bolting in a Hurdles Race | | | Executive Summary Every organization has a structure in place that defines the hierarchy and workflow in it. The organizational structure for a company is usually defined keeping business environment and vision in focus. The challenge arises when a company makes a transition to a new business model keeping in view the long term sustainability. The paper explains that there are primarily five major categories of organizational structures, out of which almost all the time one is adopted by a company. We cannot ignore the fact that traditional organizational structures manage the daily activities of running a company well. But with the business getting more and more dynamic, the challenge for a company lies in being flexible and innovative with these conventional structures in place. In this paper we drew inspiration from the award-winning article “Accelerate!” in Harvard Business Review, from global leadership expert John Kotter and  came to the conclusion that the existing structures and processed that form the organizations - ” Operating System” need additional elements to overcome the challenges produced by mounting complexity. The solution lies in the implementing a second Operating System with a focus on continuous redefinition of strategy to keep up with market changes. The approach to have second......

Words: 3410 - Pages: 14

Strategic Management

...Investment goods (machines, buildings) Commodities (cotton wool, coal, steel) Services Services for individual payment (bank, insurances, transportation) Services for flat rate payment (charitable organizations) Services without payment (charitable organisations) Strategic groups A strategic group consists of companies in a market, which display a homogeneous strategic behavior, i.e. they are similar in terms of certain strategic dimensions. 4. Open Source Industrial evolution model Who benefits from innovation? Pioneer Technology leadership Discriminatory appropriation of scarce resources Specific restrictions of customer behavior Follower Exploitation of free-rider effects Avoiding technical or demand-related uncertainties Technological innovations or shifts in demand Social factors of innovation Institutional setups Legitimisations (generation of trust) Regulation (rules, norms, laws) Technological standards Resource endowment Scientific/technological research Financing and insurance Soft skills / human competencies (education and acquisition) Proprietary functions Technological development: R&D, testing, production and marketing Innovation networks: procurement of commonly available goods (science, finance, workforce), channels for procurement and distribution Creation of market and customer demand 5. New business models automotive industry Industry development 2007-2013 Diversification Volkswagen Different business models for future automotive industry 6.......

Words: 2100 - Pages: 9

Strategic Management

...SIM336 (Off Campus) Strategic Management - July 2011 - Sunderland Business School Individual Assignment Case Study – Nike’s dispute with the University of Oregon in De Wit & Meyer (2004:933-940) Module Leader: Derek Harwood Submission Date: Monday 11th July 2011 Word Count: 3,000 words Introduction: This individual assignment will be assessed by means of a 3,000 word report. The assignment has been designed to allow you to develop and use your knowledge and skills in understanding key strategic issues relating to the design and marketing of high quality sports shoes and clothing in a global industry. You will be required to apply the strategic concepts and analytical techniques studied in this module. All the learning outcomes below will be assessed: 1. Ability to analyse the complexity of organisations and their environments 2. Demonstrate an understanding of the complexity of the relationships between an organisation and its environment 3. Ability to evaluate existing models against practices of real organisations The assignment will be marked and moderated by: Module Tutors Please note: 1. All work must adhere to the University regulations on ‘Cheating, Collusion and Plagiarism’ which are provided as an Appendix in your Programme handbook. See your Tutor for guidance on ‘Harvard Referencing Style’, and avoiding ‘Plagiarism’. 2. A hard copy, an electronic copy on CD or DVD Rom, of the assignment must be......

Words: 1196 - Pages: 5

Strategic Management

... * Process Monitoring | Leader in logistics & supply chain management * Customer logistical management | Operations – Malcolm Balbridge National Quality Award for service | Efficiency,Low-cost provider | Deregulation * In airline industry * In trucking industry | Innovative, entrepreneurial, operational leader | Hub & spoke distribution pattern | | Cost reduction through economies of scale, IT, Business Process Re-engineering | Ditto | FedEx - UPS 2003 Financials Challenges: UPS: * To make strategic technology group from a small strategic planning process. This was basically required for finding major gap in technologies. * Competition from both private companies and large government supported agencies. * Execution of Scenario-planning session. * To tackle the impact of axis of uncertainty. * Formation of scenarios for future strategic planning. * To manage the strategy road map and implement the centennial plan. * To tackle the implication for technology and infrastructure initiatives, growth strategies and options, and workforce development at both the global and region level. * Since most managers in the company were focused on short term goals. It was difficult to keep the perception in mind that this was not about UPS but rather how the world affected UPS. * To resolve the strategic integration responsibility. Steps taken for overcome those......

Words: 1945 - Pages: 8

Strategic Management

...capabilities via a program of expansion and strategic acquisitions. In the process, Toll became one of the Asia Pacific region's leading providers of integrated logistics services, employing around 40,000 people across some 1,200 locations in more than 50 countries. In 2014 the company generated total revenue of $8,899,100,000 including sales and other revenue. (http://clients1.ibisworld.com.au/reports/au/enterprisepremium/default.aspx?entid=3516) The Toll Group has five operating divisions: Toll Global Forwarding provides international freight forwarding and supply chain management services that range from complex supply chain services through to port-to-port freight forwarding movements. Toll Global Logistics provides specialist contract logistics. It offers transport, warehousing and value-added services including: freight transport services, distribution services, warehousing, cross docking, wharf services, supply chain services and finished parts logistics. Toll Resources & Government Logistics provides logistics and supply chain services to the oil and gas, mining, energy and government and defence sectors in Australia, Asia and Africa. Toll Global Express provides parcel and courier delivery services; freight transport services such as local and interstate line haul movements; distribution services such as pick, pack and delivery; data and document services such as document management, data warehousing and print management services; and aircraft and......

Words: 3161 - Pages: 13

Cultural Diversity and Workforce Management

...Effect of workforce diversity in the performance of an organization Name: Institution: 1.0 Introduction Diversity in the workplace has for a longtime been viewed as a challenging issue to manage within an organization. The management therefore takes quite some time to ensure that the employees get along. This has to be done to enable every single employee feel engaged within the organization. The website identified for this study is Apple Company website. The company clearly highlights the reason it identifies diversity among its staff. The website also highlights on what it aims to benefit from a diverse force based on its quest for more innovation. When the term diversity is searched a series of plans the company has for diversity pop up (Apple, 2016). For instance the plans it has for the present workforce, future plans, job creation by identifying diversity, its policy on diversity and inclusion and diversity based jobs. The material on diversity is related to the organization’s plans for innovation as it targets to have a workforce that have different ideas that will enable it come up with unique products. The mission and goals are all inclined with the plans the company has for a diverse workforce (Apple, 2016). Potential employees and customers will be able to know by logging onto the website the immense opportunities the organization has and will not hesitate working with them. The information on diversity is current because the management has......

Words: 1891 - Pages: 8

Strategic Management

...1. How does strategy formulation differ for a small versus large organization?  For a for-profit versus a nonprofit organization? Strategy formulation is basically the same for both small and large organizations. However, for small firms, there is a lack of strategic management knowledge for the business owners and a lack of sufficient capital to exploit external opportunities. 2.  Give recent examples of market penetration, market development, and product development. Market penetration means selling more products to existing markets. McDonald’s is spending millions on its “Shrek the Third” promotions aimed at convincing consumers it offers healthy items. Market development means selling an existing product to a new market. Burger King opened its first restaurant in Japan in 2007. Product development means seeking increased sales by improving present products or services or developing new ones. An example of this is Google introducing “Google Presents” to compete with Microsoft’s Powerpoint. 3.  Give recent examples of forward integration, backward integration, and horizontal integration. Forward integration means gaining ownership or increased control over distributors or retailers. For instance, Southwest Airlines just began selling tickets through Galileo. Backward integration means seeking ownership or increased control of a firm’s suppliers. An example is Hilton Hotels acquiring a large furniture manufacturer. Horizontal integration means seeking of or......

Words: 741 - Pages: 3

Strategic Management

...include groceries, essentials, meats, vegetables, fruits, bakery, dairy, household, toiletries and home-ware such as linen, books, stationery, pharmacy and beauty counters at selected outlets. The company has been in operation for last 20 years and they are focusing to provide best quality product and services to the customers. Currently they have 45 supermarkets in Sri Lanka and rapid expansion plans are underway to earn more profit and to have more customer base island wide. To that the management have to have proper effective strategies. In Sri Lanka upper markets are mainly accounted in the order of priority, quality, range of products, price, location, environment, parking and customer service etc. To achieve these objectives, the management should have proper knowledge about the Strategic HRM. This case is a small attempt to analyze the island’s largest private employer brought into light a few concrete conclusions about the company regarding its strategic human resource management. QUESTION 01 What do you mean by “competitive Advantage” explain as to hoe you formulate HR Strategies enabling to get such advantages in the competition in the super market business? Competitive advantage is an advantage that a firm has over its competitors, allowing it to generate greater sales or margins and/or retain more customers than its competition. Competitive advantages give a company an edge over its rivals and an ability to generate greater......

Words: 2825 - Pages: 12

Strategic Management

...Strategic Management University of Phoenix Strategic Management The purpose of this paper is to describe the role that the human resources management (HRM) department has by being a strategic partner in corporate restructuring or a merger/acquisition of a health care facility or system. Topics discussed will be recruitment and retention, training and development, employee performance management, regulatory compliance and finally, compensation and benefits. The best description of the human resources management department is to look at is as the rudder of a ship. The main task of the rudder is to keep the ship on course, making sure that the direction is set and on course. This is the case with the (HRM) department and it starts with recruitment and retention of good staff. One way of accomplishing this is by using the current workforce as a tool in attracting the best candidates. Current staff that are top shelf standard know the various rigors of the job, and can recommend the correct staff for the (HRM) to interview and consider for the job. A small finder’s fee would be nice to offer for any staff that are hired and make it through their probationary period. This is of course, one way that recruitment and retention can be handled. Retention of current staff is important when considering mergers and acquisitions, keeping the good staff, and after working with staff that is not meeting expectations possibly finding a position that will work for......

Words: 927 - Pages: 4

Strategic Management

...Strategic Management-2 Case Study Synopsis Of Case:-1) Competitive Advantage in new patent regime 2) Strategic leadership and competitive advantage 1) Competitive Advantage in New Patent Regime: A Study of the Indian Pharmaceutical Industry In the global business environment, traditional factors e.g labour costs and superior access to financial recourses and raw materials can still create a competitive advantage in the current competitive landscape. In the current landscape, the recourses, capabilities and the core competencies in the firm’s internal organization likely have a stronger influence on its performance than do conditions in the external environment. The IPI is one of the largest and most advanced among the developing countries. It is the 4th largest by volume i.e. around 8 percent and 11th largest in terms of value i.e. around 1.5 percent. The Indian pharmaceutical industry is a heterogeneous mixture of firms split between the organized and unorganized sectors. The control and support of the Indian government plays a critical role in the competitiveness of the IPI. According to Sampath (2006), areas of government support critical to the IPI include speed of processing of patent applications, R&D conducive environment, and reduced price Control, access of land for expansion and the patent amendment act, 2005. The government can also help increase the potential of the nascent venture capital industry in India, with an......

Words: 1714 - Pages: 7

Strategic Management

...What is strategy? An integrated and coordinated set of commitments and actions designed to exploit core competencies and gain a competitive advantage. What is the strategic management process? The formulation and implementation of value-creating strategies, in order to give the firm a sustained competitive advantage. What is a competitive advantage? Gained when a firm implement a strategy that competitors are unable to duplicate or find too costly to imitate. Typically results in high profits – profits attract competition, and this limits the duration of competitive advantage. When can a competitive advantage be sustainable? Achieved when a firm is able to gain a competitive advantage over its competitors for a considerable period of time. * * STRATEGIC MANAGEMENT PROCESS: 1. EXTERNAL & INTERNAL ASSESSMENT (What are the key strategic factors and issues?) 2. INTENT – Vision, Mission & Objectives. 3. STRATEGY FORMULATION (Evaluation of strategic alternatives & making a strategic choice). 4. STRATEGY IMPLEMENTATION 5. EVALUTATION & CONTROL * * Vision: * How the organisation wants to be seen in the future – what does success look like? * Desired end state. * Challenges everyone to reach for something significant; inspires the future. * Provides a long-term focus for everyone. * Mission: * An over-arching short statement covering: * What the immediate future looks like,......

Words: 2655 - Pages: 11

One Vintage Carved Chinese Bead Green Jadeite Jade Stone Double Shou Round 12mm | Byung-Hun Lee | Dispositivo femminile