Discuss About The Development Of Corporate Strategies Of A Business?
The relation between business strategies and human resource management (HRM) depends on many factors, which has to be given due importance so that the factors can help in shaping up of the corporate strategy of an organization. This has led to the decision where the HR managers need to be a part of the board of directors so that they can help in managing the issues in a proper manner. The use of strategic HRM helps the organization in developing the strategies that will make the organization stand vertically among the rival companies (Peppard & Ward, 2016).
Management development issues influence strategy formulation and implementation
The organizational processes depend on the factors such as operational planning, allocation of the resources, communication and control of the employees and the feedbacks that the employees provide to the organization. The process of operational planning helps in implementing the strategies along with the training of the employees so that they can understand the responsibilities, which will help in success of the strategies. The allocation of the resources helps in providing the financial and the knowledge resources that will help in developing the corporate strategies of the company. The HR department needs to recruit the right employees so that they can have a proper understanding of the job and the responsibilities that they need to take so that it can help the company in aligning with the corporate strategy. The results for implementing the strategy need to be evaluated and compared with the objectives that have been set previously by the companies (Armstrong & Taylor, 2014).
The formulation of the strategies helps the HR department in developing the systems, which may become possible threats on an external manner and the internal weaknesses and strengths. It also helps in setting the goals of the company on a long-term basis. The formulation of the strategies will help in deciding the ventures that the business wants to get in along with the diversification that it can make on the local and in the international markets (Eden & Ackermann, 2013).
Corporate strategy attempts to secure competitive advantage
The Human Resources department helps in gaining competitive advantage for the business by providing necessary programs, which will help in the learning and development of the employees. The systematic training model will help in self-development through approaches that are based on actions. These new developments will help in increasing the new insights and the techniques through which the employees can carry out the responsibilities. The employees will slowly try to reject the old techniques and will result in a whole paradigm shift towards the new developments so that the companies can achieve its level of production at a faster rate (Gallliers & Leidner, 2014).
The training and the process of development will help in the development of the employees, which will help the human resources department of the companies to be recognized. The employees will become interested within the workplace, as the new process of learning will help them in working less and achieving more. The process of learning and development can be achieved by training or educating the employees with respect to the duties that they are carrying within the office. This will help them the firms in gaining a competitive advantage over the other firms that are present within the local or the international market (Wagner III & Hollenback, 2014).
The skilled workforce within the organizations will get help if the equipments that will help in increasing the production of the organizations can be installed within the company. the internal face of the employees will help them in getting critically reflected and sharing the knowledge with each other, which will help in collective learning within the organization. The scanning of the external environment will help in applying new technologies within the organization so that the employees get motivated and the problems in the production can be sorted in an efficient manner (Galliers & Leidner, 2014).
The role of HR department in the development of corporate strategy
It can be seen that the human resources department can influence the organization with respect to the changes in its strategies and the structure, which will help in implementing it. They also play an important role in the development of the strategies so that the companies can decide on the mergers and the acquisitions over other companies. The HR of the company needs to see that the strategies they are adopting are in line with the strategies of the business. They need to focus on the development of talent as well, which will help in recruiting the right employees for the job. The HR department needs to provide the advance technologies that will help in training and development of the employees (Rao, 2014).
The setting and implementing of the strategies by the human resources department will help the organization in developing and assessing the capital needs with respect to labour so that the organization is capable to support the strategies. This will help the company in providing the perspectives by acquiring knowledge about the present market conditions and the behaviour of the humans (Galliers & Leidner, 2014).
Issues surrounding the impact of topical and relevant strategic management development
There are many arguments that are present with respect to the strategic approach in the process of learning and development. It can be seen that the main issues that arise are in context to the business environment that is present on a global scale and the need for using human resources, as a strategical tactic. The common set may include the new levels of technologies, the opportunities, and the threats that are associated with it, which will help in increasing the competition with the help of continuous improvement. It may create an impact on the relationships between the employees and the uncertainty and the level of ambiguity that needs to be confronted within the organization. The core competencies of the organizations may adapt the internal processes in an effective manner where the issues within the companies need to be dealt in an agile and flexible manner (Sung & Choi, 2014).
The problems at the managerial level cause hindrances in the company, as it hinders the process of manufacturing the products and services within the company. This causes problems in following the corporate strategies that has been set by the company and the HR department faces challenges in recruiting the employees and providing proper training to them. The companies are getting involved in multiple channels to market their products and services where the customers are facing problems in getting access to the products (Wright, Coff & Moliterno, 2014).
Thus, it can be concluded that the companies need efficient human resources department, which will help in formulating and implementing the corporate strategies of the company. They will help in recruiting the employees who are suited for the responsibilities to be carried out within the company. The department also has a duty of providing better training facilities to the employees so that they can continue to develop themselves and increase their productivity within the firm. The strategic use of the process of learning and development will help the employees in learning in an collective manner so that the companies may gain a competitive advantage over the other companies that are in the same line of business. The issues surrounding with respect to the development of the strategic management needs to be eliminated so that the organizations can work in an effective manner.
Armstrong, M., & Taylor, S. (2014). Armstrong's handbook of human resource management practice. Kogan Page Publishers.
Eden, C., & Ackermann, F. (2013). Making strategy: The journey of strategic management. Sage.
Galliers, R. D., & Leidner, D. E. (Eds.). (2014). Strategic information management: challenges and strategies in managing information systems. Routledge.
Peppard, J., & Ward, J. (2016). The strategic management of information systems: Building a digital strategy. John Wiley & Sons.
Rao, T. V. (2014). HRD audit: Evaluating the human resource function for business improvement. SAGE Publications India.
Sung, S. Y., & Choi, J. N. (2014). Multiple dimensions of human resource development and organizational performance. Journal of Organizational Behavior, 35(6), 851-870.
Wagner III, J. A., & Hollenbeck, J. R. (2014). Organizational behavior: Securing competitive advantage. Routledge.
Wright, P. M., Coff, R., & Moliterno, T. P. (2014). Strategic human capital: Crossing the great divide. Journal of Management, 40(2), 353-370.