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HUMAN RESOURCES DEVLOPMENT

The field of HRD or Human Resource Development encompasses several aspects of enabling and empowering human resources in organization. Whereas earlier HRD was denoted as managing people in organizations with emphasis on payroll, training and other functions that were designed to keep employees happy, the current line of management thought focuses on empowering and enabling them to become employees capable of fulfilling their aspirations and actualizing their potential. This shift in the way human resources are treated has come about due to the prevailing notion that human resources are sources of competitive advantage and not merely employees fulfilling their job responsibilities. The point here is that the current paradigm in HRD treats employees as value creators and assets based on the RBV or the Resource Based View of the firm that has emerged in the SHRM (Strategic Human Resource Management) field. The field of HRD spans several functions across the organization starting with employee recruitment and training, appraisals and payroll and extending to the recreational and motivational aspects of employee development.

INTRODUCTION:

Hero MotoCorp Ltd. (Formerly Hero Honda Motors Ltd.) is the world's largest manufacturer of two - wheelers, based in India. In 2001, the company achieved the coveted position of being the largest two-wheeler manufacturing companying India and also, the 'World No.1' two-wheeler company in terms of unit volume sales in a calendar year. Hero MotoCorp Ltd. continues to maintain this position till date. Mission: Hero MotoCorp's mission is to become a global enterprise fulfilling its customers' needs and aspirations for mobility, setting benchmarks in technology, styling and quality so that it converts its customers into its brand advocates. The company will provide an engaging
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environment for its people to perform to their true potential. It will continue its focus on value creation and enduring relationships with its partners. Vision: The story of Hero Honda began with a simple vision - the vision of a mobile and an empowered India, powered by its bikes. Hero MotoCorp Ltd., company's new identity, reflects its commitment towards providing world class mobility solutions with renewed focus on expanding company's footprint in the global arena. Strategy: Hero MotoCorp's key strategies are to build a robust product portfolio across categories, explore growth opportunities globally, continuously improve its operational efficiency, aggressively expand its reach to customers, continue to invest in brand building activities and ensure customer and shareholder delight.

(P 1.1)Compare different learning styles. Strategic Planning: A strategy is a detailed plan for achieving success—the bundle of
decisions and activities that we select to achieve our long-term goals—our path. Every organization must figure out what it wants to achieve and how to make it happen by using its products, customers, and operations. Strategy is fluid, continuous, and iterative and can be broken down into logical steps or elements.

Goal setting: The first step: We cannot begin to think about a strategy until we have
objectives that are prioritized and are based on our business, our markets, and how value is created in our organization. These objectives are aimed at maximizing the value of the organization to the shareholders, with the critical factor being time. Even though we create a vision of the organization, say, twenty years out, the strategic plan considers only a three-year to five-year time horizon. A written declaration of an organization's core purpose and focus, commonly referred to as the mission statement, serves as a consistent directional tool for the firm. In contrast, the strategic plan and its related practices fluctuate according to changing circumstances.

Strategy development process: The road map
Strategy development is focused on three fundamental questions: Where are we now? Where should we go? How do we get there? The answers to these three questions frame the strategy process depicted in Figure 1:
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Figure 1: Strategy Development Process. Customer Analysis: Getting the Truth
Unmet customer needs are at the heart of business ideas and the development of a business strategy. While step 3 could be included in step 2, it is usually kept separate to underscore and facilitate the need to continuously analyze the customer as part of everyday management. Essentially, we need to know why our customers buy from us and why others buy from our competitors. This information is typically gathered at point of sale via customer surveys or focus groups. Good, regular, and valid information is essential to business strategy success.

Internal business analysis: health check
The internal audit explores the organization’s operational and financial results, evaluates its talent pool, assesses its functions and processes, and explores the health of its key relationships. A good SWOT analysis not only identifies the component strengths, weaknesses, opportunities, and threats (SWOT), but also prioritizes them and helps to limit analysis to a smaller set of the most important factors.

Strategy choices: Generic strategies of cost leadership, differentiation, and niche player
provide a good foundation for the strategic choices each business faces. A comprehensive
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strategy formulation contains both positioning and execution components. An effective strategy must align between positioning and execution. Positioning articulates clearly and concisely the organizations strategic approach to achieving its goals by setting out a direction and a choice of suitable products and services. Execution ensures that the organization has the necessary resources, operational capabilities, and organization to support the direction. To enhance our strategic choices, we ask the question “how?” and develop a strategy through approaches like integration, penetration, development, diversification, and divestiture.

Strategy thinking: optimizing assets
Strategic thinking involves asking the right solution-oriented questions and conducting appropriate analyses to formulate plans and strategies. Asset optimization questions have long been fertile ground for new ideas—for thinking about the best use for each significant asset that we currently own and control. Another strategy-generating approach is to use core-business thinking. Your core business is defined by the set of products, customer segments, processes, and technologies in which you can build the greatest competitive advantage. Defining your core business can be difficult and may require a small team to answer the question. If we were forced to sell off all of our businesses except for one, which one would we keep? Once your core business has been identified, the key is to work the core to your best advantage—for example, taking advantage of operational excellence in the core business area. Another method uses best practices lists that can be found in publications. For example, Choi and Valikangas (strategy+business, vol. 23) distilled a list of nearly two hundred business strategies into a top ten list that includes generic approaches like consolidation, value migration, and bypassing.

Implementing strategy decisions: executions matters
The principal causes of strategy failures are the attitudes, communication, and commitment of senior management. The best system for implementing strategies is by using the balanced
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scorecard. It provides a framework for considering strategy from four perspectives—financial, customer, business processes, and learning and growth. It was created by Kaplan and Norton in 1992 as a means of neutralizing the limitations of managing only by financial measures. Implementing strategy is a team game, and even though senior management has the responsibility to formulate and articulate the business strategy, you, as a program or project management professional, play a lead role in the strategy implementation segment of the process. As a program manager, you are expected to understand the strategic drivers of the program, the specific benefit levers, and the required level of governance to make change happen. As project manager, you are expected to fulfill a similar role at the project level, whether it is part of a formal program or a one-off high-impact strategic project. Conclusion: Each successful strategy could be a catalyst for a strategic thinking direction and approach. As a program or project manager, take the time to identify the strategies in play in the next business case or feasibility study you review. If they are not clear in the financial analysis document, do not be afraid to ask for clarification from your sponsor. Partnership status may take months or years to establish. Regardless, you will not be able to “link project management to corporate strategies and position project management as a solution to problems” if you do not understand the driving business strategies. This article helps you start—now, it’s up to you to go deeper.

(P 1.2 ) Explain the roles of the learning curve and the importance of transferring learning to the work place .

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