People Flashcards
(207 cards)
Strategic Planning and Management: Formulation
Leaders gather and analyze internal and external information to determine the organization’s current position and capabilities, opportunities, and constraints.
Strategic Planning and Management Process: Development
Strategic goals and tactics that will optimize success given the environment, opportunities, and constraints - the strategic plan.
Strategic Planning and Management Process: Implementation
This requires clear communication of objectives to teams, coordination and support of their efforts, and control of resources.
Strategic Planning and management: Evaluation
Evaluation of results, both continually to make sure that activities maintain strategic focus and are effective and at designated intervals to determine the effectiveness of the strategy itself and the need for change or improvement.
Alignment of effort
Each unit must examine its plan against the organization’s. Are HR activities attentive to the logic behind the original plan and the value of the original goal?
Control of drift
Strategic drift is a phenomenon in which an organization fails to recognize and respond to changes in its environment that necessitate strategic change.
Focus on core competencies
Usually unique advantages an organization possesses, abilities that are integral to creating customer value and are difficult for competitors to imitate.
Strategic Planning Process
Begins with information gathering and analysis bc this leads to greater self-awareness and a better understanding of the constraints and advantages that must be reflected in the organization’s strategy.
Systems Thinking
Recognizes that organizations are composed of interacting and sometimes interdependent parts that together create a dynamic internal environment.
Input-process-output (IPO)
Inputs => Process => Outputs
Inputs
All the factors that can affect the outcome.
Process
All the methods the organization can apply to maximize its opportunities and manage its constraints. (analysis, communication, resource control, quality control)
Outputs
Includes the desired strategic effect - Example: expansion or redefinition of markets, increased sales or profitability, increased diversity, or enhanced environmental sustainability.
Environmental Scanning
Defined as a process of systematically surveying and gathering data from internal and external sources.
PESTLE
Political, economic, social, technological, legal, and environmental categories.
PESTLE Analysis
The environmental scanning process is systematized by searching for environmental forces organized under specific categories.
PESTLE analysis.2
Can be conducted on different levels: for the entire enterprise, for individual units or functions, or for specific activities. EX: Talent Acquisition, where PESTLE analysis can be used to understand external factors affecting the recruitment process.
PESTLE Analysts Step 1
Assemble a list of possible events or trends that exist now or could materialize within a defined time frame.
Could be done through brainstorming meetings, interviews or focus groups with experts, or literature reviews
PESTLE Analysts Step 2
Identify the potential impacts on the organization. These should include positive and negative or immediate and long-range effects.
PESTLE Analysts Step 3
Research the impacts more thoroughly to understand possible causes, their dimensions, and connections with other events or trends. Example: trending information may be obtained from govt agencies or industry associations.
PESTLE Analysts Step 4
Assess their importance based on the strength of the data.
SWOT analysis
A simple and effective process for assessing an organization’s strategic capabilities in comparison to threats and opportunities identified during environmental scanning.
SWOT analysis
Can also be used to analyze the strength and weaknesses of parts of an organization (HR function), products or services, and individual initiatives
SWOT analysis
S- What are the organization’s internal strengths?
W-What are the organization’s internal weaknesses?
O-What external opportunities might the organization be able to take advantage of?
T-What external threats must the organization accept or manage to succeed?