IMPLEMENTATION OF STRATEGY

Implementation entails converting the strategic plan into action and then into
results. Dreaming up a strategy is fairly easy, getting it to work is hard.

Many companies, even very sophisticated ones, are much better at generating
impressive plans on paper than they are at getting “ownership” of the plans so
that they actually guide operational decisions.

Strategy Implementation is said to be securing resources, organizing these

resources and directing the use of these resource within and outside the
organization

NATURE OF STRATEGY IMPLEMENTATION

 Action Oriented: Action and reaction

 Require Leadership: Confident leaders are able to convince their
customers
 Employ Involvement: Involve the employee
 Varied Context: Different businesses implement their strategies in
different ways
 Challenging management job: Take the challenge to convince your
customers

BARRIERS TO STRATEGY IMPLEMEMNTATION

 Time Horizon
 Risk Consideration
 Basis of individual rewards
 Vision Barrier…. Where you see your Org. in the next 5-10 yrs.
 THE NATURE OF SHRM

Strategic HRM is an approach that defines how the organization’s goals will be
achieved through people by means of HR strategies and integrated HR policies
and practices. It is based on two key ideas, namely the resource-based view and
the need for strategic fit. SHRM can be regarded as a mindset underpinned by
certain concepts rather than a set of techniques. It provides the foundation for
strategic reviews in which analyses of the organizational context and existing
HR practices lead to decisions on strategic plans for the development of overall
or specific HR strategies. SHRM involves the exercise of strategic choice
(which is always there) and the establishment of strategic priorities. It is
essentially about the integration of business and HR strategies so that the latter
contribute to the achievement of the former. Strategic HRM is not just about
strategic planning, nor does it only deal with the formulation of individual HR
strategies. Its main concern is with integrating what HR does and plans to
do with what the business does and plans to do. SHRM is about both HR
strategies and the strategic management activities of HR professionals.

AIM OF SHRM

The fundamental aim of strategic HRM is to generate organizational capability

by ensuring that the organization has the skilled, engaged, committed and well-
motivated employees it needs to achieve sustained competitive advantage.
Strategic HRM is about how the employment relationships for all employees
can be managed in such a way as to contribute optimally to the organization’s
goal achievement.

HRM has three main objectives: first to achieve integration – the vertical
alignment of HR strategies with business strategies and the horizontal
integration of HR strategies.
The second objective is to provide a sense of direction in an often-turbulent
environment so that the business needs of the organization and the individual
and the collective needs of its employees can be met by the development and
implementation of coherent and practical HR policies and programmes. The
third objective is to contribute to the formulation of business strategy by
drawing attention to ways in which the business can capitalize on the
advantages provided by the strengths of its human resources.

BUSINESS STRATEGIES:

Is an outline of the actions and decisions a company plans to take to reach its
goals and objectives

WHY IS A BUSINESS STRATEGY IMPORTANT?

1. Planning: A business strategy helps you identify the key steps to take to
reach your business goals
2. Strength and Weaknesses: Allows you to identify and evaluate your
company’s strengths and weaknesses.
3. Competitive Advantage
4. Control

COMPONENTS OF A BUSINESS STRATEGY

There are six (6) key components of a business strategy

1. Vision and business objective

2. Core values
3. SWOT analysis
 4. Tactics
5. Resource allocation plan
6. Measurement

BUSINESS STRATEGIES

1. Grow sales from new product

2. Improve customer service
3. Product differentiation
4. Pricing Strategies
5. Improve customer retention`

HR-STRATEGY

is a business overall plan for managing its human capital to align it with its
organisation goals.

IMPORTANCE OF HR- STRATEGY

COMPONENT OF HR-STRATEGY

1. Employee Engagement-Engagement and productivity go hand in hand

and are often considered the sides of the same coin.

2. Corporate Image-Image is everything in the corporate world.

3. Career Development and advancement- The most precious asset of an
organization is the human resources that help it to achieve all its dreams
and desires.

4. Performance Management system-Until and unless you know where

you stand in the scheme of things, it becomes impossible to take any
corrective actions.

HR- STRATEGIES
1. Purposeful hiring
2. Competitive salary
3. Benefit package
4. Growth opportunity
5. CSR
6. Employee wellbeing