C5 section c strategic training

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HOW STRATEGIC TRAINING HELPS IN REAL LIFE

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C5 section c strategic training

  1. 1. THE THREE MUSKETEERS SECETION:C MINAL SETHIA 13BSP0411 AKHASH PATEL 13BSP1345 M.V.SAIMAHESH 13BSP1569
  2. 2. AGENDA  Overview  History of strategic planning process of the word strategy  Meaning of strategic  Hierarchy of strategy  Difference  Questions between training and strategic training to ask to develop strategic training and development initiatives  Training needs in different strategies
  3. 3. OVERVIEW OF STRATEGIC PLANNING PROCESS
  4. 4. HISTORY OF STRATEGY  The word 'strategy', deriving from the Greek noun strategus, meaning 'commander in chief', was first used in the English language in 1656. which was used in army.  In a management context, the word 'strategy' has now replaced the more traditional term - 'long-term planning' to denote a specific pattern of decisions and actions undertaken by the upper echelon of the organization in order to accomplish performance goals.
  5. 5. MEANING OF STRATEGIC  Wheelen and Hunger (1995) define strategic management. as 'that set of managerial decisions and actions that determines the long-run performance of a corporation'.  Hill and Jones (2001) take a similar view when they define strategy as 'an action a company takes to attain superior performance'
  6. 6. Hierarchy of strategy:  Another aspect of strategic management in the multidivisional business organization concerns the level to which strategic issues apply. Conventional wisdom identifies different levels of strategy - a hierarchy of strategy.  Corporate  Business  Functional.
  7. 7. Corporate level strategy  Corporate-level strategy describes a corporation's overall direction in terms of its general philosophy towards the growth and the management of its various business units. Such strategies determine the types of business a corporation wants to be involved in and what business units should be acquired, modified or sold. This strategy addresses the question, 'What business are we in'?'
  8. 8. Business level strategy  Business-level strategy deals with decisions and actions pertaining to each business unit, the main objective of a business-level strategy being to make the unit more competitive in its marketplace.  This level of strategy addresses the question, 'How do we compete'?' Although business-level strategy is guided by 'upstream', corporate-level strategy, business unit management must craft a strategy that is appropriate for its own operating situation.
  9. 9. Functional-level strategy  Functional-level strategy pertains to the major functional operations within the business unit, including research and development, marketing, manufacturing, finance and HR.  This strategy level is typically primarily concerned with maximizing resource productivity and addresses the question, 'How do we support the business-level competitive strategy?' Consistent with this, at the functional level, HRM policies and practices support the business strategy goals.
  10. 10. TRAINING  Training represents a significant expenditure for most employers. But it is too often viewed tactically rather than strategically, which means that training is seen as a short term activity rather than one that has longer-term effects on organizational success
  11. 11. STRATEGIC TRAINING  Training is used strategically to help the organization accomplish its goals.  Strategic training can have numerous organizational benefits. It requires HR and training professionals to get intimately involved with the business and to partner with operating managers to help solve their problems, thus making significant contributions to organizational results.
  12. 12. Questions to ask to develop strategic training and development initiatives  1. What is the vision and mission of the organization? Identify the strategic drivers of the business strategy.  2. What capabilities does the organization need as result of the business strategy and business environment challenges?  3. What types of training and development will best attract, retain and develop the talent needed for success?  4. Which competencies are critical for organization success and the business strategy?
  13. 13.  5. Does the organization have a plan for making the link between training and development and the business strategy understood by executives, managers and employees or customers?  6. Will the senior management team publicly support and champion training and development?  7. Does the organization provide opportunities for training and developing not only individuals but also teams?
  14. 14. TRAINING NEEDS IN DIFFERENT STRATEGIES  There are four business strategies 1) concentration 2) internal growth 3) external growth and 4) disinvestment
  15. 15. Concentration strategy  A concentration strategy focuses on increasing market share, reducing costs or creating and maintaining a market niche for products and services. EXAMPLE: Tiger Airways in Australia has a concentration strategy. It focuses on providing short-haul, low-fare, high-frequency air transport. It has a limited aircraft fleet and serves a restricted range of food and drinks.
  16. 16. Internal growth strategy  An internal growth strategy focuses on new market and product development, innovation and joint ventures. For example, the merger between two publishing organizations, McGraw-Hill and Richard D Irwin, created one organization with strengths in the US and the international university textbook markets. Medical technology company Massimo, in its global operations (which include Australia), also follows an internal growth strategy
  17. 17. External growth strategy  An external growth strategy emphasizes acquiring vendors and suppliers, or buying businesses that allow the organization to expand into new markets.  Example of organizations using this strategy include the Smorgon Steel Group and BHP Billiton.
  18. 18. Disinvestment strategy  A disinvestment strategy emphasizes liquidation and divestiture of businesses.  For example, Ansell Healthcare was born out of the failure of Pacific Dunlop, which was once an Australian icon but gradually declined until its business units were worth more than the conglomerate as a whole.

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