LINGAYAS VIDYAPEETH

SCHOOL OF COMMERCE
& MANAGEMENT

Assignment
of
Strategic Human Resource
Management

SUBMITTED TO: SUBMITTED

BY:
Dr .Savita Yadav Gunjan
16BMI24M

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Question:1 Define strategy? How do you consider that strategic
management is a process?
Answer: The strategic management process means defining the
organization’s strategy. It is also defined as the process by which managers
make a choice of a set of strategies for the organization that will enable it to
achieve better performance.
Strategic management is a continuous process that appraises the business and
industries in which the organization is involved; appraises it’s competitors;
and fixes goals to meet all the present and future competitor’s and then
reassesses each strategy.
Strategic management process has following four steps:

1. Environmental Scanning- Environmental scanning refers to a

process of collecting, scrutinizing and providing information for
strategic purposes. It helps in analysing the internal and external
factors influencing an organization. After executing the environmental
analysis process, management should evaluate it on a continuous
basis and strive to improve it.
2. Strategy Formulation- Strategy formulation is the process of deciding
the best course of action for accomplishing organizational objectives
and hence achieving organizational purpose. After conducting
environmental scanning, managers formulate corporate, business and
functional strategies.
3. Strategy Implementation- Strategy implementation implies making the
strategy work as intended or putting the organization’s chosen strategy
into action. Strategy implementation includes designing the
organization’s structure, distributing resources, developing decision
making processes, and managing human resources.
4. Strategy Evaluation- Strategy evaluation is the final step of strategy
management process. The key strategy evaluation activities are:
appraising internal and external factors that are the root of present
strategies, measuring performance, and taking remedial / corrective
actions. Evaluation makes sure that the organizational strategy as well
as it’s implementation meets the organizational objectives.

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Question:2 Corporate planning is not synonymous with long range planning
why?
Answer: Concept of Corporate Planning:
Planning is a natural part of the whole management process. However,
corporate planning has a special meaning inasmuch as it lays emphasis on the
regular view of strategy. It can be thought of as ‘planning systematically the
total resources of the company, for the achievement of quantified objectives
within a specified period of time’.

However, the above definition does not properly emphasize the relation of
corporate planning to strategy. In this context, Peter Drucker’s defini-tion of
corporate planning is perhaps relevant.
He defines corporate long-range planning as a continuous process of making
entrepreneurial decisions systematically, and with the best possible knowledge
of their futurity; organizing systematically the effort needed to carry out these
decisions; and measuring the results against expectations through organized
systematic feedback. Thus, corporate planning has come to mean a systematic
approach to strategic decision-making.

* corporate planning represents a systematic attempt to influence the medium

and long-term future of the enterprise by defining company objective; by
appraising those factors within the company and in the environment which
will affect the achievement of these objectives; and by establishing
comprehensive but flexible plans which will help ensure that the objectives
are in fact achieved

Question:3 Describe strategic management and environmental analysis?

Answer: Environmental analysis

Environmental analysis is a strategic tool. It is a process to identify all the

external and internal elements, which can affect the organization’s
performance. The analysis entails assessing the level of threat or opportunity
the factors might present. These evaluations are later translated into the
decision-making process. The analysis helps align strategies with the firm’s
environment.

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Our market is facing changes every day. Many new things develop over time
and the whole scenario can alter in only a few seconds. There are some factors
that are beyond your control. But, you can control a lot of these things

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Strategic management
Strategic management is the management of an organization’s resources to
achieve its goals and objectives. Strategic management involves setting
objectives, analyzing the competitive environment, analyzing the internal
organization, evaluating strategies, and ensuring that management rolls out the
strategies across the organization.

Example of Strategic Management

For example, a for-profit technical college wishes to increase new student
enrollment and enrolled student graduation rates over the next three years.
The purpose is to make the college known as the best buy for a student's
money among five for-profit technical colleges in the region, with a goal of
increasing revenue.

Question:4 Differentiate mission and objectives. How do you formulate the

goals of a manufacturing organization?

Answer: Objectives are the end results of a planned activity. They are stated
in quantifiable terms. Objectives are stated differently at various levels of
management. Objectives play a very important role in enhancing the
efficiency and effectiveness of an organization.

The following characteristics must be present in fairly framed objectives:

 They should be specific and unambiguous.

 They should have a particular time horizon within which it is expected

to be achieved.

 They should be flexible enough so that if changes are required, they

may be incorporated easily.

 They should be attainable.

 They should be measurable.

 They should be understandable.

 They should help in the achievement of the organization’s mission and

vision.

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Mission refers to the purpose of an organization. Mission states the business
reason for the organization's existence. It relates the organization to the
society. The mission of an organization should aim high and at the same time
it must be realistic. It should provide a strategic direction for the organization.
“Mission is the fundamental work given by the society to an organization”.

Manufacturing is a complex and demanding industry, where businesses must

contend with challenges ranging from rapid developments in technology and
customer expectations to skills shortages and rising costs.

If your business is targeting long term, sustainable growth in this sector, it’s
crucial to have the right tools and strategies in place to ensure you can seize
opportunities, reach your goals and negotiate any difficulties you might face.

To put this into perspective, here are some of the most common
manufacturing goals and some tips to help you achieve them.

Question:5 How do you craft a strategy for competitive advantage?

Answer: Attracting and satisfying customers, competing successfully,

conducting operation, and achieving target objectives.

When creating strategy, you can utilize a number of different actions:

 Gain sales and market share via lower prices, more performance and
features, better quality, or appealing design

 Diversify into new businesses

 Strengthen competitive capabilities and shore-up competitive
weaknesses

 Define how key organizational activities are to be handled by

management
 Pursue new market opportunities and defend against threats
 Create strategic alliances and collaborative partnerships
 Establish a Merger or Acquisition with your rival
 Enter new product markets

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 Respond to changing market conditions and external
circumstances.

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