The strategic management process helps the organisation to react quickly towards the new challenges. The third step is strategy implementation, which involves putting the formulated strategy into place.
Overall, the relationship between HR and management is becoming mutual. Strategic Human Resource Management SHRM also identifies the long-term effects of HR decisions on the employment and development and development on the bond between management and staffs in the organisation as being significant.
According to Porter, competitive advantage defined as an advantage that arises from observing and realizing ways of competing that are unique and distinctive from those of rivals, and that can be sustained over time.
Thus keeping this particular asset in good terms and managing it up to a standard is quite a challenge in terms of time and similarly finance.
Examples of HR planning include creating an organization structure, evaluating the use of contractors vs. He has authored over 20 books on various subjects, many published by McGraw-Hill. Strategic management can also help the organization to identify their strength, weaknesses, and opportunity and threats SWOT.
Also HR strategic objectives go past the basic calculation and control of staff numbers and minimization of costs. As a result of, HR departments integration to the business, the personnel were re-looked as a resource in the company. Situation analysisstrategy implementationstrategy formulation and strategy evaluation are the key elements of the strategic management process.
Strategic Planning Strategic planning focuses on what a company wants to do, rather than how it does it. At the same time, the organization need to understand that competitive advantage is not permanent.
Thus, they tried to bring in systems in which they could be in track of workers and their actions, which is handling and regulating the work force of an organization.
Companies need to hire staff to fill needs both in the present to respond to current demandsand to fill needs in the future to respond to anticipated demands for workers.
After all, none other than a person or an employee executes every achievement or any activity in an organization. This dynamic method helps organizations find new and more capable ways to do business. The result is that companies often get caught having to downsize if they hired too many peopleor get caught with the wrong people in the wrong slots.
Human resource needs to create organizational values in order to be a source of competitive advantage. Strategic management deals with devising people interventions that help an organization to develop the customer behavior to promote the competitive advantage.
However, having a well organized and a well-managed human resource brings more significance to an organizations well being. The key to an organisations success is to become more global and advance from a technological prospective.
HR gives the management team the personnel costs associated with an initiative based on the necessary additional hiring or overtime pay. It encourages the setting of longer term goals and strategies.The main objective of this study is to find out the relationships between institutionalization level, strategic management level and human resource management level in family businesses.
Relationship between strategic human resource management and firm performance Relationship between strategic human resource management and firm performance: A contingency perspective Author(s).
1 Relationship Between HR Strategies & Business; strategic planning and human resources go hand in hand. What Is the Difference Between Human Resource Management & Human Resource Planning? Hiring, and human resource management which is undertaken strategically, and is planned to be responsive to the overall direction and strategic goals of the organization lends stability to an organization, and increases the liklihood that people will be hired to fill legitimate long term needs.
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International Journal of Humanities and Social Science Vol. 2 No. 10 [Special Issue – May ] 62 Relationship between Strategic Human Resource Management and Firm.Download