STRATEGY

Strategy

 Strategy is the bridge between policy or high –order goals on the one hand and tactics or
concrete actions on the others.
 Strategy is that which top management does that is of great importance to the
organization.
 Strategy refers to basic directional decisions that is to purposes and missions.
 Strategy is a terms that refers to a complex web goals thoughts ideas insights experiences
expertise memories perceptions and expectations that provides general guidance for
specific actions .
“However beautiful the strategy you should
occasionally look at the results”
Strategic Management strategic
formulation
strategic implementation
Strategic management

 Strategic management is an ongoing process that assesses the business and the industries
in which the company is involved assessing its competitors and sets goal and strategies to
meet all existing and potential competitors and then reassessing each strategy annually or
quarterly to determine how it has been implemented
Strategic Management

 The art and science of formulating.implemtenting and evaluating cross functional

decisions that enable an organization to achieves its 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.
 Strategic management provides overall directions to the enterprise and involve specifying
the organization objectives developing policies and plans designed to achieve these
objectives and then allocating resources to implement the plans
Strategic management process

 Goal setting
 Analysis
 Strategy formulation
 Strategy implementation
 Evaluation & control
strategic formulation

 Strategic formulation is the process by which an organization choose the most appropriate
courses of action to achieved its defines goal.
 This process is essential to an organization success because it provides a framework for
the action that will lead to the anticipated results .
 Strategy formulation requires a defined set
Step of strategy formulation

 Define the organization

 Define strategy mission
 Define strategy objectives
 Define the competitive strategy
 Implement strategies
 Evaluate progress
strategic implementation

 Strategic implementation is the process that put plans & strategies into action to reach
goal.
 In implementation makes the company plans happen
Role of HRM in providing competitive
Advantage
Competitive Advantage

 When the firm is implementing a value creating strategy not simultaneously being
implemented by any current or potential competitor the firm has a competitive
advantage.
 When the firm is have different strategy and a different plans from their competitors then
firm has a competitive advantage.
HRM becoming a competitive advantage

 Hire professionals with experience

 Give HR leadership
 Determine training programs
 Provide tools to monitor employee performance