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Introduction
A strategy:
Indicates what an organization's key
executives hope to accomplish in the long run
Is concerned with competition and aligning the
resources of the firm
Planning also:
Expands awareness of possibilities
Identifies strengths and weaknesses
Reveals opportunities
Points to the need to evaluate the impact of
internal and external forces
rewards
Environmental Scanning
Strategy Formulation
Corporate level
Business unit level
Functional level
Strategy Implementation
Strategy Evaluation
In strategy implementation
Encouraging proactive behavior
Explicit communication goals
Stimulate critical thinking
Productivity
Quality and Service
Proficient strategic management
Prescription
Implementation
Evaluation
Economic conditions
Productivity is:
An important part of a nation's economic
condition
Representative of an organization’s overall
efficiency
The output of goods and services per unit of
input (resources) used in a production process
Human Resource Management 16
Economic Conditions
Managers can influence productivity
through sound HRM programs
Diagnosis, prescription,
implementation, and evaluation
Recruitment and selection
Motivational and compensation
techniques
Training and development
Culture can:
Impact behavior, productivity, expectations
Provide a benchmark for standards of
performance