Strategic Management Human Resources
EXECUTIVE SUMMARY
In today’s time, the Human resource strategies have eventually become the most vital aspect/facet of all reason being it fosters an engaged workforce and ensures the business strategies are best aligned. Therefore, this report is going to shed a light on the relationship between the BS-business strategies alongside HR strategies with an elucidation of horizontal/vertical integration across organizations. On the other side, an evaluation, comparison, and contrasts concerning the theoretical basis, as well as models of, said SHRM will be discussed in detail in support of the subject matter. Moreover, nature along with a theoretical perspective about the concept of employment relations undertaken. The possible recommendation made in completion of the report
Surely, aligning HR strategies with BS-business strategies is salient as it ultimately boosts the worker’s satisfaction & performances, makes sure teams are best aligned for assisting businesses to accomplish its SO-strategic objectives, as well as raise their impact & power of DM-decision making across certain organization (Cha, Hwang and Kim, 2019). Hence, with an assistance of a horizontal/vertical integration, the relationship among BS and HR is revealed-
Horizontal integration- It can be simply defined as when a certain company or an organization takes over another company operating at a similar or identical level concerning a VC-value chain in a certain industry. This process is helps in increment of the supply chain of the goods and services. This can be performed by companies through various channels including acquisition, merger and internal expansion (Nellippallil et al, 2017). It can also provide the company benefit of leading with monopoly in the market due to betterment of the supply chain. Surely, companies might opt to undergo such integration for increasing their size, diversifying offering concerning their goods or services, accomplish economies of scale, and/or reducing intense competition. Contrarily, the organizations might too wish gaining access towards current buyers or markets, alongside overseas. For instance- a public organization headquartered in UK AstraZeneca accessed horizontal integration through an acquisition majorly of ZS Pharma during the year 2015 (Fuller et al, 2016). Concerning HRM, such integration is more about HR & is defined mainly as congruence in between said HRM policies, HRM practices as well as an implementation of such practices alongside policies for optimizing the HR deployment.
Vertical integration- Such an integration comprise of an acquisition/taking of certain business operations majorly within identical production vertical (IPV). Under this integration, the companies shift their focus on the suppliers to strategize to control them. In this way, the company can control its supply chain and the value of the products. By adopting this process, the companies control their operational processes and to reduce the cost of the products. Apart from them, the efficiency of the operational processes also improves. A point to be highlighted here is that organizations might accomplish such integration with an assistance of IE-internal expansion, a merger, or an acquisition (Alfaro et al, 2016). Concerning the HRM, a degree or extent to which said HRM practices, various roles as well as contributions are well-aligned mainly with SMP (strategic management processes) concerning certain organizations in addition to how they truly contribute towards its vision, mission (M) alongside strategic objectives (SO).
THEORETICAL BASIS & SHRM MODELS-
Primarily, an SHRM can be defined as an integration of HR activities as well as policies with well-defined SOG- strategic organizational goals/objectives majorly for all purposes about accomplishing & sustaining QP-quality performance results or output by certain company/organization. This process tends to improvise the role of the HR so that the resource allocation recruitments and other important factors can be assessed and evaluated effectively. It creates a sense of professionalism in the HR and others so that the company can achieve their goals with more certainty (Su, Wright and Ulrich, 2018). Hence, with the assistance of theories and models such as the SP-strategic perspectives about best fit or contingency, BP-best practice or Universalist as well as RBV which stands for the resource-based view (RBV), the SHRM theoretical basis/model and deep understanding of same undertaken :-
BP-best practice or Universalist– Such model can be regarded majorly as one of the simplest approaches of analyzing said HR strategies & argue the fact that there exists an exact human resource practice (HRP) set which shall be applicable in any company/organizational context, as well as an application of such practices, fosters organizational performances, besides, to assist in attaining a CA (competitive advantage) (Zhong, Wayne and Liden, 2016). Having a competitive advantage is the need of the hour and the organizations cannot simply take it for granted. On the other side, it pays attention majorly upon certain practices highly-oriented towards reinforcing existing employees/worker’s abilities/proficiencies. For instance, an extensive training HRP for workers might be highly beneficial to such firm as workers empowerment might foster innovation & motivates desirable worker’s behavior via promising and strong incentives. The HRM practices allows the organization to have best talented people to work for them and they strategize policies so that the employees can be retained (Haider et al, 2015). Recruitment is one of the major practices of human resource management which uses high expenses. Therefore, these policies are extremely imperative so that the people can be retained and the organization also achieve goals successfully. Hence, this way the HRM strategies and business strategies are linked and met.
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Unit 1 Developing Strategic Management
Unit 1 Developing Strategic Management and Leadership Skills
Unit 1 Developing Strategic Management and Leadership Skills,
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Unit 1 Developing Strategic Management
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