Professional Documents
Culture Documents
STRATEGIC PLAN
A companys plan for how it will match its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage.
Vision:- A general statement of its intended direction that evokes emotional feelings in organisational members
Mission:- Spells out who the company is, What it does , and where its headed.
SWOT Analysis:- The use of a swot chart to compile and organize the process of identifying company Strengths, Weakness, Opportunities and Threats.
A SWOT CHART
STRENGTHS Example :-strong research group OPPORTUNITIES Example:- Expanding china markets WEAKNESS Example:- Aging machinery THREATS Example:- Merger of two competitors to form single strong one.
Types of Strategies
Corporate-Level Strategies
Diversification Strategy
Consolidation Strategy
1.
Strategic Control:- The process of assessing progress towards strategic goals and taking corrective action as needed Types of strategies :Corporate strategy:Example:- Pepsico runs Pepsi, Frito-lay, and Pizza Hut
Diversification corporate strategy- By expanding And adding new product line. A vertical integration strategy means the firm expands by ,perhaps producing its own raw materials, or selling its products direct. Consolidation reducing the companys size - and Geographic expansion for instance, taking the business abroad are other corporate strategy possibilities.
Cost Leadership
Differentiation
Focus/Niche
Focusers carves out a market niche( like fierrari ) , and compete by providing a product or service customers can get in no other way.
HR is multidisciplinary: It applies the disciplines of Economics (wages, markets, resources), Psychology (motivation, satisfaction), Sociology (organization structure, culture) and Law (min. wage, labor contracts, EEOC) HR is embedded within the work of all managers, and most individual contributors due to the need of managing people (subordinates, peers and superiors) as well as teams to get things done.
Rewards
External
Internal
Economic
HRM
Professional Bodies
Demographics
Physical layout/employee proximity Required employee skills Ease of monitoring employees input