week two - the strategy process applied to HRM Flashcards
what are the key concerns related to ‘best practice’ approach in HRM
- different levels of analysis
- different units of analysis
- time lag, reverse causality and cause-effect circularity
- influence of environmental factors
- different types of employees
- different psychological profiles and expectations
- implementation challenges
what is the HRM strategy process
topic 2, slide 5
what do effective HRM strategies aim at
- increasing firm performance
- fitting in with other aspects of the organisation
what are the two corporate strategies
- maintaining evolutionary
- keeping at a steady state
what is meant by maintaining evolutionary
- focussing on growth, entrepreneurship and risk taking
- aggressive M&As including in unrelated industries
- external hiring, decentralisation and flexibility
what is meant by keeping at a steady state
- focus on stability and internal, slow development
- avoidance of M&As
- efficiency, centralisation, paternalistic attitude
what are the two competitive strategies
- porters business unit strategies
- miles and snow’s business strategies
what are the two types of miles and snow’s business strategies
- defender: conservative business units (low risk taking and innovation)
- prospector: innovative business units (high risk taking and innovation)
what are some business strategies of the porters business unit strategies
- overall cost leadership
- differentiation
- focus (combination of cost-leadership and differentiation)
what are the organisational characteristics of cost leadership
- intense supervision of labour
- structured organisation and responsibilities
- products designed for ease in manufacture
what are the HR strategies of cost leadership
- efficient production
- detailed work planning
- job-specific training
- performance appraisal as a control device
what are the organisational characteristics of differentiation
- strong marketing abilities
- strong capability to research
- attracts highly skilled people
what are the HR strategies of differentiation
- innovation and flexibility
- loose work planning
- external recruitment
- performance appraisal used as a development tool
what are the strategic HR areas of the miles and snow’s business strategies
- work flows
- staffing
- employee separations
- performance appraisal
- training
- compensation
what is the defender and prospector strategy of work flows
defender:
- efficient production
- detailed work planning
prospector:
- innovation
- flexibility
what is the defender and prospector strategy of staffing
defender:
- internal recruitment
- emphasis on technical qualifications
prospector:
- external recruitment
- emphasis on culture fit
what is the defender and prospector strategy of employee separations
defender:
- hiring freeze
- preferential rehiring policy
prospector:
- recruit as needed
- no preferential treated for laid off workers
what is the defender and prospector strategy of performance appraisal
defender:
- used as a control tool
- narrow focus
prospector:
- used as a development tool
- multipurpose appraisal
what is the defender and prospector strategy of training
defender:
- individual training
- on the job training
prospector
- team training
- external training
what is the defender and prospector strategy of compensation
defender:
- fixed pay
- job-based pay
prospector
- variable pay
- individual-based pay
what is STEEPLE
key factors to fit with the environment
- sociocultural
- technological
- environmental and ethical
- political
- legal
- economic
what is meant by socio cultural factors
- social atmosphere
- demographic and educational variables
- social mobility
what is meant by technological factors
- R&D spending
- technological development of the country
- technological innnovation
what is meant by the environmental and ethical factors
- pollution and emission regulations
- recycling policies
- societal concern for the environment and ethical issues
