Hrm Chapter 2 Essay

678 words - 3 pages

Strategic Planning – set of procedures for making decisions about the organization’s long term goals and strategies.

Human Resource Planning – the process of anticipating and providing for the movement of people into, within, and out of an organization. Its purpose is to help managers deploy their human resources as effectively as possible, where and when they needed, in order to accomplish the organization’s goals.

Strategic Human Resources Management (SHRM) – combines strategic planning and HR planning. It can be thought of as the pattern of human resources deployments and activities that enable an organization to achieve its strategic goals.

Human Resource Planning – an essential ...view middle of the document...

Vision statement ideally clarifies the long-term direction of the company and its strategic intent.

Organizational Core Values – the strong enduring beliefs and principles that the company users as a foundation for its decisions.

Values – place limits on what behavior is seen as ethical and acceptable.

2. Environmental Analysis

Environmental Scanning – the variety of external issues

1. Economic factors and development information
2. Industry and competitive trends
3. Technical changes
4. Government and legislative issues
5. Social concerns
6. Demographic and labor market trends

Competitive Environment – analyzing the firm’s competitive environment is central to strategic planning. It includes the specific organizations with which the firm interacts. In strategic planning, firms analyze the competitive environment in order to adapt to or influence the nature of competition.

* Customers - is the recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration
* Rival Firms - the effort of two or more parties acting independently to secure the business of a third party by offering the most favorable terms
* New Entrants - an organization or product...

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