The nature of strategic planning
Strategic planning is something all upper management must engage in this type of planning. Allen, Plunkett and Attner (2013) “defines the firm’s position, formulates strategies, and guides the execution of long term organizational functions and processes” (Allen, et al. 2013). This being said strategic planning is a simple step by step guide to creating long term goals according to resources and environment.
Elements of strategic planning
Allen, Plunkett and Attner (2013) stated four questions that are designed to answer critical questions about a business. “What is the organization’s position in the marketplace? What does the organization want its position to be? What trend and changes are occurring in the market place? What are the best alternatives to help the organization achieve its goals?
The plan should have four elements: scope, resource deployment, competitive advantage and synergy. The scope is how big the company expects to go in its environment. Where does it want to be marketed and what products or services does it want to sell? The resource deployment is how much resources are available to the company to reach its goals. Distinctive competitive advantage, this is what the company knows and what it is best at. When a company excels at something they make a demand for it because it is known to be a great product. Synergy the final element this is when two things together equal more value than either of them do alone.
The nature of human resource planning
Human resources are very important unless one wants to have a one man business. First, if the business is going to be of a good size hiring specialized human resource...
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Agrawal, R., Nanda, S. K., Rama Rao, D. D., & Rao, B. N. (2013). Integrated Approach to Human Resource Forecasting: An Exercise in Agricultural Sector. Agricultural Economics Research Review, 26(2), 173-184.
Akhigbe, O. J. (2013). Human resource planning: A key factor in ensuring the effectiveness and efficiency of organization. Journal of Emerging Trends in Economics and Management Sciences, 4(4), 388-396. Retrieved from http://search.proquest.com/docview/1470780889?accountid=32521
Allen, A., Plunkett, W., & Attner, R. (2013) The Evolution of Management Thinking. Management An Approach to Customer Expectations 10th edition. Publisher Erin Joyner.
Miller, E. L., Beechler, S., Bhatt, B., & Nath, R. (1986). The Relationship Between the Global Strategic Planning Process and the Human Resource Management Function. Human Resource Planning, 9(1), 9-23.
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