STRATEGIC HUMAN RESOURCE

MANAGEMENT [SHRM]
DEFINITION & MEANING OF
STRATEGY:-
The word ‘strategy’ is derived from the greek word ‘
Strategos’ meaning general.Strategy can be defined as-

“strategy is a course of action including the specification of

resources recquired to achieve a specific objective”
-CIMA

“strategy is a plan or course of action which is of vital

pervasive,or continuing importance to the organisation as
whole”
-Arthur sharoplin
Thus strategy may be defined as “an integrated set of action
aimed at securing sustainable competitive advantage”.
STRATEGIC MANAGEMENT:-
Strategic management can be defined as “a stream
of decisions and actions whuch leads to the
development of an effective strategy or strategies
to help to help to achieve corporate objective”
-william f glueck
strategic management is defined as the set of
decisions and actions resulting in formulation and
implementation of strategies designed to achieve
the objectives of an organizations strategy.
Thus strategic management is a decision making
process of top level.Its aims at efficient and
effective use of resources for attaining the
organizational objectives.
NATURE OF STRATEGIES & STRATEGIC
MANAGEMENT:-`

 SHRM refers to the process of

developing practices programmes and
policies that helps to achieve
organisational objectives.SHRM
considers the implication of business
strategies for all HR system within
the firms by translating company
objectives into specific people
management system.
 STRATEGIC MANAGEMENT
PROCESS:-
STRATEGIC INTENT : Vission,Mission,Goal & Objective

SWOT ANALYSIS:
1.Enviornmental analysis.
2.Organisational analysis

STRATEGY FORMULATION:
1.Corporate strategy.
2.Business strategy.
3.Functional strategy.
STRATEGY IMPLEMENTATION: Operating
strategies,Budgeting,Management information system.

STRATEGY EVALUATION: Review & Control.

ENVIORNMENTAL SCANNING:-
Every organisation is subject to broad trends which are felt
in many industries and which are not usually in its
control.These trends can be classified as
technological,economic,social,political & ecological
according to the sectors of enviornment from which they
come.It is essential for the top management to creat a
condition for effective analysis & diagnosis of
enviornment.The management must determine what
factors in the enviornment are most critical & influences
the orgation.
so,Enviornmental scanning is the process by which
strategists moniters the enviornmental setting to
determine opportunities for and threats to the firm by
breaking whole into its parts & finds its
nature,function,and relationship.
FACTORS FOR ENVIORNMENTAL
SCANNING:-

governmen
technology
t

EXTERNAL
competitor ENVIORNMENT
s OF ORGATION

Socio-
economic
factor
STRATEGY FORMULATION:-
It involves the formulation of strategies at three levels:
1. corporate level
2. business unit level
3. functional level
1.CORPORATE LEVEL:-
This is formulated by top management.Corporate level
strategies are most closely associated with translating organization mission
statement inti action.corporate strategies represent long-term direction for
organisation.
2.BUSINESS LEVEL STRATEGY:-
It represents a group of related business division.It is
concerned with how the SBU competes within a particular industry or market.
3.FUNCTIONAL LEVEL STRATEGY:-
The functional strategies are short-term game plans
developed for the key functional area to accomplish the corporate and
business level strategies & objectives.
IMPLEMENTATION &
EVALUATION:-
 Strategy implementation,often described as the
action phase of the strategic management
process,covers strategy activation and evaluation and
control.The implementation step in strategic
management encompasses the operational details to
translate strategy into effective practice-
communicating & motivating;setting goals;formulating
policies and functional strategies,organisational
structuring;leadership implementation and resource
allocation.
 Strategy evaluation is the last phase of SHRM
process.The objective is to examine whether the
strategy as implemented is meeting its objectives,if
not,to take corrective actions.