HR Strategy (Strategic Planning and Management)

 

HR Strategy (Strategic Planning and Management)

Strategy must be developed with awareness of an organization's stakeholders and their unique perceptions of the value the organization delivers and of the organization's context the marketplace forces that affect strategic choices. To know more click here.

Strategic Planning

Strategic planning is the process of setting goals and designing a path toward a competitive position. The strategic plan helps create alignment of efforts and provides a layer of control.

Strategic Management

Strategic management includes the actions that leaders take to move their organizations toward the goals set in strategic planning and to create value for all stakeholders.

It makes incremental adjustments to the plan as needed and to the organization itself. These adjustments often represent the innovative capacity of the organization.

Strategic management provides an organization with:

Consistent, long-term goals. Fewer resources will be wasted on activities that are unrelated to the goals or are ineffective in supporting attainment of the goals.

Consistent decision making by leaders. Strategy provides guideposts throughout the organization, from top to bottom. Each action and each investment of resources must be assessed in light of the organization's long- term goals.

Better competitive and external vision. The process of making decisions and managing risks requires gathering and monitoring information about the external environment. This can help in determining strategic choices and can influence organizational preparation for positive and negative outcomes. We should note here that all organizations, including nonprofits, must be aware of their competitive and external environments. Nonprofits must compete for resources from sources whose priorities and capacities may change. They may need to adjust their own operational priorities and focus in response to client needs.

Better internal vision. Strategic management provides a better internal vision of what resources the organization can apply to its strategic goals and how they may need to be developed or supplemented.

Source: SHRM, Learning system