Utilizing human resources in a manner that enables a firm to reap long term benefits, in terms of profits, ,core competence

and other goals.

Strategic planning groups decide on a strategic direction by defining the company's mission and goals, its external opportunities and threats, and its internal strengths and weaknesses. The organization follows through on the strategy that has been chosen. This includes structuring the organization, allocating resources, ensuring that the firm has skilled employees in place, and developing systems that align employee behaviour with the strategic goals.

Strategy Formulation:

Strategy Implementation:

Strategy Formulation

Mission
- reason for being

IRWIN
a Times Mirror Higher Education Group, Inc., company, 1997

Strategy Formulation

Mission
- reason for being

Goals
- what it hopes to achieve

IRWIN
a Times Mirror Higher Education Group, Inc., company, 1997

Strategy Formulation
External Analysis
- opportunities - threats

Mission
- reason for being

Goals
- what it hopes to achieve

Internal Analysis
- strengths - weaknesses

IRWIN
a Times Mirror Higher Education Group, Inc., company, 1997

Strategy Formulation
External Analysis
- opportunities - threats

Mission
- reason for being

Goals
- what it hopes to achieve

Strategic Choice
- ways to fulfill goals and mission

Internal Analysis
- strengths - weaknesses

IRWIN
a Times Mirror Higher Education Group, Inc., company, 1997

Strategy Formulation
External Analysis
- opportunities - threats

Mission
- reason for being

Goals
- what it hopes to achieve

Strategic Choice
- ways to fulfill goals and mission

Internal Analysis
- strengths - weaknesses

IRWIN
a Times Mirror Higher Education Group, Inc., company, 1997

HR Input

It helps analyze the opportunities and threats that are crucial, from the point of view of the company. It is possible to develop strategies and have a vision for the future. The attrition rate can be reduced, if strategic HRM is implemented properly. It also performs the important task of motivating employees. Development and maintenance of competency among employees, is the most important benefit offered by strategic HRM.

Inability of the management in communicating the vision and mission of the company clearly to the employees. Interdepartmental conflict and lack of vision among the senior management in implementing the HR policies.

The diversity of workforce that makes it difficult for the management to handle them accordingly.

Thank You