Fall2012 ppt ch03 dessler
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Fall2012 ppt ch03 dessler Fall2012 ppt ch03 dessler Presentation Transcript

  • Mergers, Acquisitions, and Strategic Human Resource Management Chapter 3 Copyright © 2009 Pearson Education, Inc. 3-1publishing as Prentice Hall
  • What is strategic HRM? Strategic HRM is developed through three steps: 1. Decide on the strategic goals 2. Identify employee skills and behaviors necessary for success 3. Formulate HR management policies and practices that will produce these required skills Copyright © 2009 Pearson Education, Inc. 3-2publishing as Prentice Hall
  • The Strategic Management Process The process begins by developing a strategic plan that describes how internal strengths and weaknesses will be matched with external opportunities and threats Copyright © 2009 Pearson Education, Inc. 3-3publishing as Prentice Hall
  • Steps in Strategic Management Copyright © 2009 Pearson Education, Inc. 3-4publishing as Prentice Hall
  • Step 1: Define the current businessBegin by asking these questions: – What products do we sell? – Where do we sell these products? – How do our products or services differ from our competitors? Copyright © 2009 Pearson Education, Inc. 3-5publishing as Prentice Hall
  • Step 2: Perform External and Internal Situational Audits• The key to success is adaptation• Situational audits require SWOT (strengths, weaknesses, opportunities, and threats) analysis Copyright © 2009 Pearson Education, Inc. 3-6publishing as Prentice Hall
  • Step 3: Formulate a New Business Direction• What should our new business be in terms of product, placement and competitive advantage?• The vision statement describes the following: What do we want to become?• The mission statement explains the following: Where are we now? Copyright © 2009 Pearson Education, Inc. 3-7publishing as Prentice Hall
  • Step 4: Translate the Mission into Strategic Goals• Operationalize the mission for managers• What does the mission mean to each department?• What goals follow implementation? Copyright © 2009 Pearson Education, Inc. 3-8publishing as Prentice Hall
  • Step 5: Formulate Strategies to Achieve the Strategic Goals• What is the game plan?• Decide on a course of action – Best strategies are concise – Easily communicated Copyright © 2009 Pearson Education, Inc. 3-9publishing as Prentice Hall
  • Step 6: Implement the Strategies• Get the game plan going• Do what needs to be done – Hire or fire people – Build or close plants – Adding or eliminating products and product lines Copyright © 2009 Pearson Education, Inc. 3-10publishing as Prentice Hall
  • Step 7: Evaluate Performance• Evaluate, evaluate, evaluate• Ongoing process vis-à-vis strategic control• Addresses the following questions: – Are resources being utilized as planned? – Are discrepancies explained? – Do changes in our situation suggest change? Copyright © 2009 Pearson Education, Inc. 3-11publishing as Prentice Hall
  • Types of Strategies Copyright © 2009 Pearson Education, Inc. 3-12publishing as Prentice Hall
  • Corporate Strategy• Top-level, company-wide• Identifies the portfolio of existing business segments• Strategic possibilities include the following: – Diversification or vertical integration – Consolidation – Geographic expansion Copyright © 2009 Pearson Education, Inc. 3-13publishing as Prentice Hall
  • Competitive Strategy• Identifies how to build upon and strengthen the business’s long-term marketplace position• Identifies and develops competitive advantage Copyright © 2009 Pearson Education, Inc. 3-14publishing as Prentice Hall
  • Competitive Advantage• Cost leadership indicates that the enterprise intends to become the low-cost leader in the industry• Differentiation strategies seek to be unique in its industry along dimensions valued by buyers• Focusers carve out niche markets and compete by providing a product/service that customers can get through no other means Copyright © 2009 Pearson Education, Inc. 3-15publishing as Prentice Hall
  • Functional Strategies• Identifies basic courses of action that each department will pursue to achieve strategic goals – consider Southwest Airlines Copyright © 2009 Pearson Education, Inc. 3-16publishing as Prentice Hall
  • The Importance of Leverage • Leverage means supplementing what you have and doing more with what you’ve got! • Human resources can be a crucial competitive advantage! Copyright © 2009 Pearson Education, Inc. 3-17publishing as Prentice Hall
  • HRM Creates Competitive Advantage Copyright © 2009 Pearson Education, Inc. 3-18publishing as Prentice Hall
  • Four Important Strategic HR Issues1. HR must understand that employees play a key role in employers’ performance improvement efforts2. HR teams should support corporate productivity and performance improvement efforts Copyright © 2009 Pearson Education, Inc. 3-19publishing as Prentice Hall
  • Four Important Strategic HR Issues, cont. 3. HR units must be more involved in designing – not just executing – the strategic plan 4. HR managers must understand how to create value Copyright © 2009 Pearson Education, Inc. 3-20 publishing as Prentice Hall
  • How Involved Is HR in Strategic Management? Copyright © 2009 Pearson Education, Inc. 3-21publishing as Prentice Hall
  • What Roles Does HR Play? • Strategy execution • Strategy formulation • SWOT analysis Copyright © 2009 Pearson Education, Inc. 3-22publishing as Prentice Hall
  • Translating Strategy into HR Policy and Practice Copyright © 2009 Pearson Education, Inc. 3-23publishing as Prentice Hall