Prepare and present a report and contribute to a discussion that demonstrates mastery of the course material and its relevance to Human Resources Management. Report should analyze why a tool(s) is used in Human Resources Management why a tool(s) is at the level of HR management specializations rather than the organizational level. Final reports must not discuss the importance of strategic management in general and must include a composite table (created from member tables) depicting member specializations and tools used.
Members will prepare and share with their team a brief (maximum 500 – 750 word) report that examines whether, how, and why strategic management is/could/should be relevant and important for the Human Resources Management
Strategic Management Tools
Discipline:
Concept/Tool/Framework
Description
Used in Discipline (Yes or No)?
How Used
Should be adopted or dropped? Why?
Vision, mission and strategic and financial objectives
Statements describing the organizations purpose, long-term aspirations and near term (quantitative) objectives.
Resource based view and VRIO test
Assessment of the sustainable competitive advantage of a firm’s internal resources (tangible and intangible) based on their value, rarity, imitability, and organization.
SWOT analysis
Analysis of a firm’s capabilities based on its internal strengths and weaknesses and its environment based on its external opportunities and threats.
Value Chain Analysis
Review of the internal architecture of an organization, based on decisions made on primary and secondary tasks to complete in-house or outsource and how that helps to gain a cost or differentiation advantage.
PESTEL Framework
Study of political, economic, social, technological, environmental, and legal factors in the macro-environment to determine opportunities and threats in achieving a competitive advantage, acquiring needed resources, building essential capabilities etc.
Five Forces Model
Analysis of an organization’s competitive strategy based on the five forces (suppliers, rivals, substitutes, buyers, and new entrants) that impact profitability (private sector) or access to resources (especially financial, in the public and not for profit sectors).
Strategic Group Map
Identification of competitors that employ similar competitive strategies to determine an organization’s closest rivals, alternative paths to success, and untapped opportunities.
Strategic position
Basis on which the organization competes, manages costs and raises revenues (budgets in the public sector, donations for non-profits). Could be differentiation, low cost, focus or a combination strategy.
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