Relationship between strategic management and human resource management
Relationship between strategic management and human resource management
Human
resource is a term that is used to characterize persons in an organization's
workforce, while it is also used in labor economics to define industries and
even entire countries. Human resources are also the name of the role of a body
that is in charge of executing people management plans and policies. The
establishment of a perfect balance of conventional and administrative tasks, as
well as the well-being of all employees in a business, is what human resource
management entails. Employee retention is inversely related to how well
employees are treated in exchange for their expertise and experience
Every
company strives to improve its efficiency and productivity. The ability to grow
more global and technologically advanced is critical to an organization's
success. An organization should focus on the most significant assets of all
other resources, which are human capital or intellectual assets, in order to
become more efficient and achieve its goals. After all, a person or an employee
carries out every success or action in a corporation. As a result, keeping this
asset in excellent working order and managing it to high quality is a time and
financial burden. Having a well-organized and managed human resource, on the
other hand, is more important to an organization's success. This
article will look at how Strategic Management (SM) and Human Resource
Management (HRM) are connected, and then assess how they might help businesses
gain a competitive advantage.
Organizations
can use strategic management techniques to uncover new and more competent ways
of doing business. The strategic management process includes features such as situation
analysis, strategy execution, strategy creation, and strategy assessment.
Companies can review and re-evaluate circumstances as they evolve by dealing
with these parts of the SM process in the order stated, ensuring that the firm
has placed itself appropriately in the business environment. Situation analysis
entails examining the firm's internal and external settings, as well as the
context in which the organization operates. Human resource management
may be defined as a series of actions aimed at improving the performance of a
company. Having a great HR management department is just as crucial as having a
strong financial department. Any business has goals and objectives to meet, and
its personnel is responsible for achieving them. Employees constitute the
entity's labor force, thus managing and sustaining them is critical to the
organization's senior managers
Figure 1: Strategic HRM is....
Figure 2: Strategic management is...
Reviewing strategic goals and objectives, increasing organizational performance, establishing and implementing communication, and modifying, developing, and prioritizing high-performance teams are all functions of strategic management.
The top management of the
A&E continues to plan, monitor, analyze and evaluate all the requirements
that must meet to achieve its goals and objectives. It is the team's job to
move towards these objectives and work for the organization's profitability.
This top management manages the company's cooperate strategies as well as other
strategies. This is how strategic management in A&E works.
Conclusion
When
a company picks a strategy, it must choose among a number of competing options.
The organizational method might be sketched using competitive advantages.
Analytically, the emerging strategy aids senior management's logical
decision-making process and improves the businesses' competitiveness.
Furthermore, the businesses can gain a long-term competitive edge. Strategic
Human Resource Management (SHRM) provides for the customization of HR procedures,
knowledge, and employee behavior in response to the organization's urgent
needs. In summary, SHRM must provide strategic flexibility in order to achieve
an active fit.
References
MBA knowledge base, 2022. MBA knowledge base. [Online]
Available at: https://www.mbaknol.com/strategic-management/relationship-between-strategic-management-and-human-resource-management/
[Accessed 2 April 2022].
UK esseys , 2022. UK
esseys. [Online]
Available at: https://www.ukessays.com/essays/business/relationship-between-top-management-and-human-resource-management-business-essay.php
[Accessed 2 April 2022].
Figure 1: Strategic HRM
is....
Figure 2: Strategic management is...
Appropriate discussion.SHRM can use more sophisticated method improving employee motivation & productivity rather than the traditional HRM.
ReplyDeleteMere HRM does not help to the extend to grow Companies, to grow faster and hold market share and gain competitive advantage Companies has to look into SHRM in more serious way. Good introduction for SHRM
ReplyDeleteAs you have clearly explained, HRM functions like performance evaluation, human resource planning, employee selection, training and development should be designed according to the strategic plans of the organization. Hence these two should be aligned to achieve the company objectives. All the Best!
ReplyDeleteThis article will analyze the connection between Strategic Management (SM) and Human Resource Management (HRM), as well as how they might assist businesses to gain a competitive advantage. Outstanding writing is important for everyone.
ReplyDeleteStrategic Management, HRM and the relationship between the two concepts have been clearly elaborated in your article. Proper evaluation and analysis should be made in all aspects before making any strategic decision relating to HR. It can have a massive impact on the performance of the company.. Good article Kawshi !
ReplyDeleteStrategic Human Resource Management (SHRM) provides for the customization of HR procedures, knowledge, and employee behavior in response to the organization's urgent needs.Strategic Management, HRM and the relationship between the two concepts have been clearly elaborated in your article.
ReplyDeleteAnalytical and decision making through an emerging strategy has a huge impact on the growth of those organizations. It is very important to make informed decisions without thinking about the outward appearance. It also increases or decreases the performance of employees. How to maintain it properly and its importance is well explained in this. All the best!
ReplyDeleteHi, Analytical and decision making through an emerging strategy has a huge impact on the growth of those organizations. It is very important to make informed decisions without thinking about the outward appearance. It also increases or decreases the performance of employees. How to maintain it properly and its importance is well explained in this. All the best!
ReplyDeleteSelecting a HR strategy is very tricky. It may effect to the growth or the downfall of an organisation.
ReplyDeleteyou have well explain about Relationship between strategic management and human resource management. well written...
ReplyDeleteFunctions such as HR planning as well as training and development etc. are crucial areas that need to align with the strategic plan of the organization. It has the potential to have a significant impact on the company's performance. As you have mentioned, HR planning and that is aligned with the strategic plan of the organization will give a competitive advantage to the organization. Great article.
ReplyDelete