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Management
1
TWELFTH EDITION
GARY DESSLER
BIJU VARKKEY
Part 1 | Introduction
Chapter 3
32
Strategy
A chosen course of action.
Strategic Plan
How an organization intends to balance its internal
33
Mission
Spells out who the company is, what it does, and
34
FIGURE 35
35
FIGURE 37
A SWOT Chart
Strengths
Weaknesses
Opportunities
Threats
36
FIGURE 38
37
Types of Strategies
Corporate-Level
Strategies
Diversification
Strategy
Vertical
Integration
Strategy
Consolidation
Strategy
Geographic
Expansion
Strategy
38
Cost Leadership
Differentiation
Focus/Niche
39
310
311
FIGURE 36
312
Human Resource
Professionals
Human Resource
Policies and
Practices
Employee
Behaviors and
Competencies
313
FIGURE 310
Strategy
Map for
Southwest
Airlines
Source: Adapted from Brian Becker et al., The HR Scorecard: Linking People,
Strategy, and Performance (Boston: Harvard Business School Press, 2001), p. 12.
315
316
Creating an HR Scorecard
The 8-Step HR Scorecard Process
1
Choose HR Scorecard
measures
Summarize Scorecard
measures on digital dashboard
and monitor, predict, and
evaluate
317
FIGURE 314
318
HR Metric*
Absence rate
100
HR expense
factor
Time to fill
HR expense
Total operating expense
Total days elapsed to fill job requisitions
Number hired
Turnover rate
100
KEY TERMS
strategic plan
strategic management
vision
mission
SWOT analysis
strategy
strategic control
competitive advantage
strategic human resource management
HR Scorecard
metrics
value chain analysis
Copyright 2011 Dorling Kindersley (India) Pvt. Ltd
Authorized adaptation from the United States edition of Human
Resource Management, 12/e
320