Strategic human resource management (SHRM) involves aligning human resource policies and practices with a company's strategic goals. It is part of the strategic planning process where a company determines its long term goals and how to achieve them given internal/external factors. SHRM means developing employee competencies through practices like training to help the company execute its strategies. The strategic management process involves analyzing strengths/weaknesses, opportunities/threats, setting goals and strategies, implementing plans, and evaluating performance.