Strategic planning is the procedure and decisions made about an organisation’s long term goals and strategies. The company formulates a strategy on how to sustain their position in a very competitive environment. Human resource planning, by comparison, is the process of providing management with effective manpower, at the right time and place to achieve the organisation’s goals. The human resource planning is an ongoing process which looks to insure flexible re-sourcing connected to internal and external environmental pressures. Strategic human resource management is a combination of strategic planning and HR planning, it utilizes human resource and human resource activities in the achievement of strategic goals.
Companies go international for a variety of reasons but the typical goal is company growth or expansion (Katarzyna Twarowska, 2013). The company expansion brings challenges to accountant profession. They need the skill and knowledge in order to face and deal with the global business environment. Global business environment include the foreign market entry, managing segmentation supplier, supply chain management and human resources. Several factors are considered to be important in assessing the potential attractiveness of a foreign market: market size and market growth.
Background Strategic leadership represents a process used by leaders with an aim to achieve a desirable and well-understood vision through influencing organizational culture, resource allocation, and providing policy directive (Schwartz & Castelli, 2014). The process also includes building consensus in complex and uncertain situations that exists in business environments where there are great opportunities and increased levels of risks (Bibu & El-Moniem, 2011). According to Honore (2009) employee motivation encompasses a host of factors that are either extrinsic or intrinsic which cause employees to pursue organizational goals and act in certain ways. Extrinsic factors emanate from aspects related to an organization such as the provision
Developing Human Resources strategy: Developing HR strategy can identify potential threats and opportunities in the quantity and quality of human resources required by the organization by gaining deep knowledge and understanding of the organizational mission and vision. Performance management: it is meant to help the organization to train, motivate and reward workers. It is also meant to ensure that the organizational goals are met with efficiency. The process not only includes the employees but also be for a department, product, and service or customer process, all toward adding value to the organization. Organizational Design and Structure: Organizational design is the shape, size and structure of the organization required to meet customer
RODUCTION Achieving a competitive advantage position and enhancing firm performance relative to their competitors are the main objectives that business organizations in particular should strive to attain. A well designed organizational strategic plan and strategic human capital plan is essential. Raduan C. et al (2009) contends that Strategic planning helps determine the direction and scope of an organisation over the long term, matching its resources to its changing environment and, in particular, its markets, customers and clients, so as to meet stakeholder expectations (Johnson and Scholes, 1993). The business environment is constantly changing and being associated with
As mentioned by Hicks (2002), global leadership efficiency has turned out to be one main issue within the literature of social issues, human resource development and management and world business etc. To efficiently perform the role of global leadership in progressively complex global market it important to workforce management and international business. Leadership is considered to be main element of all firms however its capacity and function are getting difficulty with increased engagement in technology and globalisation development. Technological advances extend the probability of global economy that has changed the approach people communicate and do business (Kochan & Thomas, 2003). Managing diversity is related to acknowledging each employee’s differences and understanding theses diversity as valuable factor, this lead to motivate and improve effective managerial practice by stimulating extensiveness and preventing
They have achieved such a success based on the way they have organized their operations. Competencies are very important for an organization to build up on their own. Competencies can be of two aspects namely core competencies and threshold competencies. A core competence can be identified as a unique set of skills or production techniques that deliver a particular value to the customer. A threshold competence can be identified as a quality that need to maintain by the organization in order to remain competitive in the market (Rohwedder & Johnson,
Generally, strategic management is based on setting an organization‘s long-term development direction. The main business objective of this is to achieve a competitive advantage over other organizations by properly controlling resources and maximizing competencies within the organization. The culture of the business, the skills
It provides information particularly on job fit and leadership and highlights the potential employees.Bussey, Cathy (2009) described the HR department to maintain the knowledge and skills of the employees. Talent data is competitive advantage of the organization. The researcher concluded that talent data drives the growth of the corporate world. To know the capabilities of employees those are needed in the future and mold the employees to achieve the organization goal. Korn Ferry (2014) launched talent analytics that helps organization to identify the top performer, assess the employees’ performance and competency gaps, measure the effectiveness of employee engagement and compare the organization improvement with the corporate world.