Human Resources Management - Function of HRM
Role of HRM in Strategic Management - Function of HRM
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HRM is being used to develop competitive advantages and therefore, its role in strategic management is well recognized.
Role of HRM in Strategic Management
HRM is being used to develop competitive advantages and therefore, its role in strategic management is well recognized. Strategic management is the continuous process of relating the organization with its environment by suitable course of action involving strategy formulations and its implementation. Strategy is a course of action through which the organization relates itself with the environment so as to achieve its objectives.
HRM linked with corporate strategic management can be appreciated from the following figure:
Strategy formulation involves the choice of appropriate strategy in the light of corporate mission and objectives, environment opportunities and threats and corporate strengths and weaknesses.
Corporate world uses SWOT
analysis in every situation. Expansion of SWOT is
S - Strength
W - Weaknesses
O - Opportunity
T - Threat
HRM contributes to the choice of strategy by providing strength and weakness of human resources. The threat is also exposed and opportunity is provided by training and development.
HRM is being used to develop competitive advantages and therefore, its role in strategic management is well recognized. Strategic management is the continuous process of relating the organization with its environment by suitable course of action involving strategy formulations and its implementation. Strategy is a course of action through which the organization relates itself with the environment so as to achieve its objectives.
HRM linked with corporate strategic management can be appreciated from the following figure:
Strategy Formulation
Strategy formulation involves the choice of appropriate strategy in the light of corporate mission and objectives, environment opportunities and threats and corporate strengths and weaknesses.
S - Strength
W - Weaknesses
O - Opportunity
T - Threat
HRM contributes to the choice of strategy by providing strength and weakness of human resources. The threat is also exposed and opportunity is provided by training and development.
Tags : Human Resources Management - Function of HRM
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