Prepare a brief (maximum 500 - 750 word) report that examines whether, how, and
ID: 431431 • Letter: P
Question
Prepare a brief (maximum 500 - 750 word) report that examines whether, how, and why strategic management is/could/should be relevant and important for the specialization. Specialization: Human Resources 1. A summary of the main course concepts. -SMART objectives -The three tests of winning strategy -SWOT Analysis (Internal Factors, External Factors) -Resource Based View -Value Chain Analysis -Porter's Five Forces Model -Ethics, social responsibility, or environmentally sustainable polices 2. Identification of strategic management tools and frameworks used in your specialization and a discussion of their benefits 3. Identification of strategic management tools and frameworks that are not being used in your specialization and a discussion of why
Explanation / Answer
In any kind of business, it is the duty of the leader to align the business resources with the business strategy. The most challenging asset to handle is the human asset. The leader must be able to channelize the human capital and align them with the strategic objectives of business.
An effective leader is one, who is flexible enough to adapt to the changing scenario of business in his organization. He is an adaptive leader, for a critical situation, he can be aggressive while for some, he can be grounded. The leader changes his leadership style to match the need of his company. The leader needs to incorporate strategic management in his leadership style to make it more effective.
There are basically 4 types of fit in strategic Human Resource Management:
The leaders do use various strategic tools in HR domain to manage the human capital of the company. Some of such tools are:
There are some strategic tools, which still need to be explored in the human resources and human capital domain:
These tools do not fit the nature of analysis of human capital, so they have not been explored by the HRD.