Summary: Human Resources Planning

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• 1 Strategic Management

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• 1.1 Lecture

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• What were the two models we discussed during the very end of the class? We gave examples for each using two companies: Google and Rogers.Give the two names and explain what they are used for.

  • Porter's Strategic Model - - Five forces for strategy outside the organization
    
  • Mintzberg's Strategic Model - - Evaluation based on situation

• The professional professor explained strategy by using three different definitions from a CEO and HR professionals.Knowing he used the keywords,  "objectives", "competition" and "planning", can you tell me the definition of strategy?

  Strategy - - Formulation of organizational objectives, competitive scopes and active plans to gain an advantage.

• Based on the lecture, first comes strategy, which is "what they want to achieve!"Can you guess the following levels of HR planning based on the lecture with the definitions?"What they want to achieve!""What's the 'forecast' like?'" "Economics in the organization""Giving good skills that make the company move forward.""Get someone right away if something goes wrong.""Need to analyze what happened."     

  Strategy, Environment, Demand and Supply, Training (provide training), Strategic Options, Evaluation.

• We asked the question:"Why VP's of HR seldom become CEO's?"Give three reasons that this is the case.

  • Administrative Roles
    
  • Macro vs Micro levels
  • Career Performance

• Strategy, according to the lecture, involves cognitive thinking.By the way, we talked about apple and its products producing the same effect.To have a strategy, the prof said it must be ________ (Short-term) and ________ (Long - Term). Do you remember what is considered short-term and long-term in strategic planning? You have to be both...

  Transformational (Short-term) and Visionary (Long-term)

• We discussed [Porter 5 strategic model] and related it to Rogers.Knowing the five ways to analyze the business environment, I'll give you 5, and you tell me how they relate to Rogers, as we discussed before:  RivalryNew EntriesThe threat of Substitute Products or ServicesBargaining power of suppliersBargaining power of buyers

  1. Intense Rivalry [Bell or Telus]
     
  2. [Horizon]
  3. [Laptops and Ipad]
  4. Bargaining power is high
  5. Bargaining power is moderate - high

• We talked about the different Best Strategies.Explain all the best strategies listed and give the proper examples for each.Low-Cost StrategyBroad Differentiation StrategyBest-Cost Provider StrategyFocused / Market Niche (Lower Cost)  Focused / Market Niche (Differentation) 

  • Low-Cost Strategy
  • Walmart (Lower cost is better)

  
  

  • Broad Differentiation Strategy
  • No Frills [Loblaws] (You can find anything here!)

  
  

  • Best-Cost Provider Strategy
  • Target (Average cost but better quality)

  
  

  • Focused / Market Niche (Lower Cost) 
  • Chinese Grocery Stores (Culture Stores with lower cost)

   
  

  • Focused / Market Niche (Differentiation) 
  • Costco (Targeting big families with membership fee's)

• It is time for the HR MANAGEMENT PROCESS!!!1. - - Deals with the company's core objective and identity2. - - Contains the SMART analysis3. - - Contains the SWOT analysis4. - - Identifying competition5. - - "How great do you want to be?"6. - - It's going time for the company. Do what this section is about!7. - - What happened?

  1. Establish the mission, vision and values
  2. Develop objectives
  3. Analyze the external environment
  4. Identify the competitive advantage
  5. Determine the competitive position
  6. Implement the Strategy
  7. Evaluate the performance  

• SMART analysis!Summarize the acronym now!

  S - - Specific
  M - - Measurable
  A - - Attainable
  R - - Relevent
  T - - Timely

• 1.1.1 Slides 1

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• In Mintzberg's strategic Terminology there are four different strategies mentioned. Can you name all four?Hints:This strategy is created from new ideas and unexpected conditions     This strategy is the agreed-upon strategy through the initial planning processThis strategy is the executed (or newly learned) strategy having a mix of unexpected and planned materialThis strategy is removed because of the changing circumstances

  • Emergent strategy
    
  • Intended strategy
  • Realized strategy
  • Discarded strategy