Resource based strategy - strategic human resource management
Strategic Human Resource Management Lecture 2
Transcript of Strategic Human Resource Management Lecture 2
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Lecture 2
Strategic HRM
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Lets Talk about
HRM in your organization
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• Identify the 2 major things you want to improve/change in your organization?
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Strategy: Concept & Process
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Strategy
This is what we want to do and this is how we intend to do it.
• Setting Long-term goals
• Ways to achieve goals
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The Concept of Strategy
• The concept of strategy is based on three subsidiary concepts:
1. Competitive advantage,2. Distinctive capabilities 3. Strategic fit.
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1. Competitive Advantage
• Michael Porter (1985)• Value Creation for customers
Markets
Products
Processes
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How to Sustain Competitive Advantage?
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2. Distinctive Capabilities
People
Innovation
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3. Strategic Fit
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The Fundamentals of Strategy
Strategic Intent
Resource-based Strategy
Capability of Organization
Strategic Management
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1. Strategic Intent
• Mission and Vision of organization
• Specific goals
• Strategic Objectives
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2. Resource-based Strategy
• Strategic capability of a firm depends on its resource capability.
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3. Strategic Capability
• Ability of an organization to utilize resources in the most efficient manner.
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Outsourcing
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4. Strategic Management
• Set of decisions and actions in implementation process.
• Deals with End and Means.
• Importance of Flexibility.
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