Strategic Planning Process/ HRM Planning

Strategic Planning Process/ HRM Planning

Project The project assignment provides a forum for analyzing and evaluating relevant topics for this week on the basis of the course competencies covered. Introduction The fundamental premise of this course is that different organizational strategies require different human resource policies and practices. Before HRM strategies can be utilized, it is important to understand the different types of strategies that organizations formulate and implement. It is important to understand the strategic planning process because HR professionals are expected to navigate the language of business and to be able to discuss HR programs using the terminology of strategic planning. Corporate strategies are organization-wide strategies focused on the overall strategy for the organization and its businesses or interests. These strategies are usually focused on long-term growth and survival goals. Listed are three corporate strategy options: Restructuring Growth Stability Each strategy option includes several forms: Restructuring: turnaround, divestiture, liquidation, or bankruptcy. Growth: incremental growth, international growth, or mergers and acquisitions. Stability: maintain the status quo. Tasks Select a public company to research. Pick one of the corporate strategy forms listed above, and answer the following questions: -Describe your chosen organization. -Define the corporate strategy that you researched. -Evaluate how the strategy used by your chosen organization and explain why it was selected. -Examine if the strategy focus on long-term growth or survival goals for that organization? -Conclude if the growth was achieved.