Strategic Managenment

In: Business and Management

Submitted By hossan603
Words 4559
Pages 19
FACULTY OF BUSINESS, ENTERPRISE AND LIFELONG LEARNING

INTERNATIONAL PROGRAMME ACADEMIC YEAR 2013/14

Module Code: BU7205

Module Title: Managing Human Capital
Level: 7 (MBA 2)

NAME: MD JAHED HOSSAN STUDENT ID: 1326892

MODULE TUTOR: David Hall/Rajendra Kumar

SUBMISSION DATE 23rd JUNE 2014

Table of Contents

Introduction 4 Literature Review: 5 Human Capital strategy 7 Critical analysis: 9 Conclusion 14

Recommendations 15 Reference 17

Introduction

Human capital is established of awareness, proficiencies, capability, and aptitude and prospective than an employee has in order to undertake the objectives of the organization. The most important impartial of a company is classified the Human capital. (Heckman, 2004). A high-quality of Human capital have to more qualified to review the entail endowment for an organization and they must recruit the right talent at right time within minimum cost by using formulating their strategy in away that guides them. The business that has been taken into explanation for considerate the HR strategies and it affiliation with organization strategy is Wal-Mart.
The most popular retail chain in America is Wal-Mart. It resides of warehouse and discount departmental stories. It measured being prime chain of stores in the world according to Fortune 500.In 1962,Sam Walton was originator of Wal-Mart and it was enumerated in1972 and also in 1969 it was incorporated. The United States, the headquarter of Wal-Mart and it is known as leading grocery store in the world. It operates in 27 countries with 11000 stores and using 55 altered names all over the world. Wal-Mart is positioned in 50 states of America. (Simon.2005).
Wal-Mart global stores are 6337 in number and having 800,000 operatives in 27 countries. The merchandise and groceries are…...

Similar Documents

Strategic

...Strategic Initiatiative FIN/370 Strategic Initiative Whether the example is a sports team, small convenience store or major franchise, organizations generally adhere to several common practices in an effort to succeed. The first of these actions usually starts with a game plan for the future. The game plan is named differently depending on the organization establishing it. However, in the end, it is a strategic plan initiative that identifies how the organization plans to achieve its goals in the future. These goals not only include financial but also community, environmental, and charitable goals. The following data will cover Wal-Mart’s latest strategic initiative while answering several key questions concerning the initiative, which include: 1. How the initiative affects the organizations financial plan 2. How the initiative affects costs and sales 3. Risks and affects associated with the initiative Strategic Planning Initiative for Wal-Mart and Initiative Identified in Annual Report A strategic planning initiative Wal-Mart implemented to help grow the company is the “Save Money, Live Better” initiative. To ensure the initiative was a success, the company identified several components that needed to be addressed. For example, one of the “Save Money, Live Better” initiative’s objectives is to achieve price leadership for Wal-Mart. The company’s plan to achieve price leadership is to do everything in its power to...

Words: 1335 - Pages: 6

Strategic

...Introduction: Using strategic management and strategic planning has many advantages as it increases the overall performance and assists in improving management efficiency, which will translate in the ability of identifying and capitalizing on market opportunities and will encourage employees as they will have a higher positive attitude such acceptance to change. SMEs have high importance in the economy accordingly strategic management has lots of benefits for their survival and obtaining high performance. Strategic management process: Strategic Management Can be defined as the art and science of formulating implementing and evaluating cross functional decisions that enable the organization to achieve its objectives Strategy is a plan of action and the main way to achieve organization goals and objectives the will lead to improve long term performance of the company. Strategic management process involves four main components which is a model of dynamic strategic management process illustrated as follows: Strategic analysis: It involves internal and external environment analysis to identify strategic factors that will affect the future of the company. Strategy formulation: To establish vision, mission and long term objectives also to generate and identify strategic options to strengthen the competitive edge of the company. Strategy implementation: It requires building an organization that is capable of performing a successful strategy , setting budgets , building......

Words: 437 - Pages: 2

Strategic

...changes, and analyze the supply chain operations. By identifying the major issues or opportunities that the company faces with the synopsis, the author can generate a hypothesis surrounding each issue and research questions. The author will conclude by identifying the circumstances surrounding each issue, classifying the circumstances; attributing the importance of each classification; and test the accuracy of the importance for each classification. Strategic Planning is a tool the organizations use to concentrate its energy, to ensure that the workforce and all members of the company are working towards the same goal previously establish. The primary purpose of strategic planning is to assess and adjust the organization’s direction in response to a changing environment. Strategic planning is necessary to allow the firm to keep its competitive advantage, and that is what makes the difference on successful companies. For Lusti Laundromat, a coin laundry store in South Florida, the administration understand the importance of strategic planning to pursue the goals previously set and to make sure the workforce meets the standards of the organization. Given the success achieved so far Lusti Laundromat management decided to expand and open more stores throughout South Florida. The main tool in order to get started with this expansion is a SWOTT analysis, which helps give a picture of the internal and external forces and trends. SWOTT is a short term for Strengths, Weaknesses,......

Words: 335 - Pages: 2

Sm Strategic Managenment

...yields a difficult-to-understand or imitate competitive advantage. A firm develops a CA through an acquisition strategy only when a transaction generates private synergy. Private synergy occurs when the combination and integration of acquiring and acquired firms' assets yields capabilities and core competencies that could not be developed by combining and integrating the assets with any other company. Because of its uniqueness, PS is difficult for competitors to understand and imitate but also difficult to create for company. 5. Too much diversification Diversified firms must process more information of greater diversity. Scope created by diversification may cause managers to rely too much on financial rather than strategic controls to evaluate performance of business units. Acquisitions may become substitutes for innovation. 6. Managers overly focused on acquisitions A considerable amount of managerial time and energy is required for AS to be used successfully. Necessary activities with an acquisition strategy involving Search for viable acquisition candidates; Complete effective due-diligence processes; prepare for negotiations and Managing the integration process after the acquisition. Diverts attention from matters necessary for long-term competitive success (I.e., identifying other activities, interacting with important external stakeholders, or fixing fundamental internal problems). A short-term perspective and greater risk......

Words: 3697 - Pages: 15

Strategic

...Strategic leadership: ability to anticipate, envision, maintain flexibility, think strategically – work with others to initiate changes that will create a vision future for organization – create and articulate an inspiration vision reflecting the future of organization – monitor internal & external – build company resource & capability – track industry & competitive trends – spot market opportunities – identify business threat & develop a vision for business future – involve top management. Analysing the environment: SWOT, assessing an organisation’s market strength, financial position capability, core competencies, culture & structure – influence by the degree of fit or alignment between internal capability and external opportunity.Role of leadership in change: identify and analyse the needs for change before – clear and accurate assessment to adapt internal and external – recognise the needs to communicate new mission & priority – real change doesn’t start until the org in experiencing some external threat of significant loss due to an internal weakness – ability to inspire follower to transcend their interest – effective manage the new strategy – having a plan deal with resistance – eliminate policy, products & behaviours undermine the change efforts – see & understand followers behaviours in change. Unfreezing: replace old habit, value, attitude, mindset – new behaviours, attitude - complete when the design change in behaviours become......

Words: 684 - Pages: 3

Strategic

...BMGT500 – Strategic Management Review: Chapter 1-2 Class: ________________________ Student: ________________________ C 1. A company's strategy is most accurately defined as  A. management's approaches to building revenues, controlling costs and generating an attractive profit. B. management's concept of "who we are, what we do, and where we are headed." C. management's action plan in responding to economic and market conditions, competing successfully, conducting operations, and improving the company's financial and market performance. D. the business model that a company's board of directors has approved for outcompeting rivals and making the company profitable. E. the choices management has made regarding what financial plan to pursue. 2. A company's mission statement typically addresses which of the following questions?  A. "Who are we and what do we do?" B. "What objectives and level of performance do we want to achieve?" C. "Where are we going and what should our strategy be?" D. "What approach should we take to achieve sustainable competitive advantage?" E. "What business model should we employ to achieve our objectives and our vision?" c3. A winning strategy is one that  A. results in a company becoming the dominant market leader. B. produces exceptionally high levels of customer satisfaction and is both ethical and highly profitable. C. fits the company's internal and external situations, builds sustainable competitive advantage, and......

Words: 559 - Pages: 3

Strategic

...Not Enough Management Support: Quite often a strategic plan is created just for the sake of creating it. The management team creates this plan in order to show to stakeholders that they have a clear mission and vision about the company’s future. However no efforts are put in place to enforce the strategic objectives upon the employees. Employees are not explained how their individual contributions will contribute to the overall effectiveness of the company and ultimately help them to achieve strategic objectives. Once the plan is put in place, no follow up is done whether or not if they are on track and aligned to achieve those objectives. Management may be side tracked with other initiatives and totally skips the process of monitoring. In today’s dynamic environment where things are changing on the daily basis, it is critical to monitor your strategic plan more frequently than ever and modify the plan accordingly. You simply cannot create a plan and forget about it. Overall objectives may be realistic or too vague: Sometimes the strategic objectives are not SMART (Specific, Measurable, Attainable, Realistic, Timely). Management may set up an objective to double their revenue in the current fiscal year without analyzing the external and internal factors such as economy, resources, competition etc., which may be impossible to achieve no matter how many resources are put on that initiative. No buy in from the......

Words: 325 - Pages: 2

Strategic

...effective Risk Management System with clearly stated procedures, utilizing various committees that constitutes senior management personnel with requisite expertise/experience. 1. Identifying Retail Banking Sector of HNB as a SBU HNB provides a wide array of products and services to its customers. But at a broader level it can be basically divided into two categories i.e Corporate Banking and Retail Banking. This assignment basically analyses about the retail banking category of HNB. Retail banking means providing services to individual customers and small and medium enterprises rather than dealing with big corporate customers. This report explains about the competitive strategy of bank, market analysis in which HNB operates, strategic capabilities and core competencies of HNB. As mentioned earlier HNB has received Best Retailer Bank for six consecutive years for providing vast range of products and services as listed below. • Savings Accounts o Capital Savings o HNB Adhishtana o Money Market Savings Account • Minor Savings Accounts o Singithi Kirikatiyo o Singithi Lama • Youth Savings Accounts o HNB YOU o HNB Teen Account o HNB Yauwanabhimana • Senior Savings Accounts o Senior Citizens Scheme • Current Accounts o Privilege Current Account o Shareline Current Account • Term Deposits o Fixed Deposits o......

Words: 2761 - Pages: 12

Strategic

...CALVARY ACADEMICS STRATEGIC MANAGEMENT Synopsis In the fast moving area of strategy, this course provides the most comprehensive treatment of both rational and creative approaches to the subject. It offers a popular practitioner oriented perspective, focuses on skills building in all major areas of strategy formulation, implementation, monitoring and evaluation, and weaves three very contemporary themes throughout each chapter – globalization, the natural environment and the e-commerce. Outline The following aspects are reflected upon in the course: • • • • • • • • • How to analyse a business policy case The nature of strategic management The business mission The external assessment The internal assessment Strategic in action Strategy analysis and choice Implementing strategies: management issues Implementing strategies: marketing, finance, accounting, R and D, and MIS issues. Strategic management is the art and science of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its objectives. It is the process of specifying the organization's objectives, developing policies and plans to achieve these objectives, and allocating resources to implement the policies and plans to achieve the organization's Strategic Management N.Dhaerah (HBS, MBA, PhD Candidate 2008) 1 CALVARY ACADEMICS objectives. Strategic management, therefore, combines the activities of the various functional areas of a......

Words: 9879 - Pages: 40

Strategic

...Strategic Planning and the Nursing Process Paper HCS/482 Diane Delucia Strategic Planning and the Nursing Process Paper   Strategic Planning and the Nursing Process Healthcare informatics refers to the use of information technology in the healthcare field. Several software applications are used in healthcare informatics. There is a variety of healthcare informatics uses including, but not limited to, electronic record keeping, information distribution, data observation, data investigation, and record keeping. Medical records are now more readily accessible due to healthcare informatics. In the past health care medical records were written and or typed on paper. When patients saw a physician their medical records were ordered, obtained, and sent via courier or interoffice mail to various departments. Healthcare informatics has greatly improved patient care by providing clear legible computerized charting verses the illegible poorly written, unorganized charting health care providers previously used. The Nursing Process According to Definition: Nursing Process (2004), The Nursing process is defined as “a five-part systematic decision-making method focusing on identifying and treating responses of individuals or groups to actual or potential alterations in health”. The Nursing process includes assessment, nursing diagnosis, planning, implementation, and evaluation”. The nursing process is an organized, strong, method of providing nursing care so that the......

Words: 800 - Pages: 4

Strategic

...that organisations are focusing on human resources as “Companies everywhere are changing the way they manage in order to be competitive”. These firms need to find a new competitive advantage, and the implementation of a HRS that is beneficial and supportive in achieving the overall strategic plan is a means of doing so, or put differently, achieving a desirable outcome through a set of processes and activities. In this new business culture of ‘strategic management’, fitting every ‘division’s’ strategy in to the overall strategy has become the norm. Human resource management has developed and ‘integrated’ its processes and activities in strategic management, ‘through the new discipline’ of strategic human resource management. Associated to this point is Barney’s assertion that “Managers must look inside their firms for valuable rare resources and exploit these resources through their organization”. The emergence of HR strategies can therefore be explained by the development of corporate strategies that firms began to implement as a means of gaining that desired competitive advantage, and creating a clear and effective plan in which to operate the business. In the current environment, good strategic management of human resources by developing a competent set of processes and activities will assist in formulating a desired outcome: a fit between HR strategy and the organisation’s overall strategy. A significant value of human resource strategies, as opposed to human......

Words: 5793 - Pages: 24

Strategic

...Basics of Strategy: Strategy decisions are different from other decisions taken for the company. They are distinguished on three levels; Scale: A strategic decision covers the whole circle. Strategy decisions are big decisions and concerns competitors, suppliers as well as customers. Time-span: These decisions mostly impact the medium term and long term objectives of the company although there out come can also be seen in short term. Dedication: This means resources commitment and investment that cannot be undone simply. This is done in the marketing of the company, operation changing etc. (Haberberg A. and Rieple, A. 2008) A company's strategy refers to the when, how and why of its existence and working. It basically entails the efforts that the company's management put in to achieve its objectives that pertains to selection of type of clientele, market situation and market form, what competitive advantage to follow and how to perform successfully in long term with taking into the its implications in short term. (Thompson, A.A. and Strickland, A.J. 2003) Strategic Analysis Strategic analysis is very important for any company, whether operating on small or large scale. If an organization has a vision for long term existence then it has to follow the ground rules. As taken from Business Dictionary, strategic development is an ongoing scheme of things done to have the grip on the environment by obtaining the knowledge in which it is existing and to put......

Words: 2900 - Pages: 12

Managenment

...------------------------------------------------- Course OutlineDepartment of Accounting and FinanceSchool of Business and Economics | ACCT 4250-01 Advanced Management Accounting (3,0,0) MWF 1:30-2:20 PM A&E 208 Instructor: Dr. Laura Jean Kreissl Office: IB 2060 Office Hours: please check office door Email: lkreissl@tru.ca Email is strongly recommended over voicemail as it is checked more frequently Phone/Voice Mail: 250-852-7675 Last Updated: November30, 2015 Calendar Description Building on ACCT 3250: Intermediate Management Accounting, students explore the integrative and interdisciplinary role of management accounting and its contribution to the strategic management process and the provision of quantitative and non-quantitative information for planning, control, and decision making. Topics include management control systems; results controls, action, personnel and cultural controls; control system tightness; control system cost; designing and evaluating management control systems; financial responsibility centers including transfer pricing; planning, and budgeting; incentive systems; financial performance measures; the myopia problem; uncontrollable factors; corporate governance; and ethical issues. | Educational Objectives/Outcomes Upon completing this course, students will be able to: 1. Locate the role of Management Control Systems (MCS) in both strategy and operations. 2. Describe results control and its applications. ...

Words: 7415 - Pages: 30

Managenment of Research

...for Operations Management Research Robert Jacobs and Elliot Bendoly Operations and Decision Technologies, Indiana University, Bloomington, IN 47405 Decision and Information Analysis, Emory University, Atlanta, GA 30322 Abstract Enterprise Resource Planning (ERP) has come to mean many things over the last several decades. Divergent applications by practitioners and academics, as well as by researchers in alternative fields of study, has allowed for both considerable proliferation of information on the topic but also for a considerable amount of confusion regarding the meaning of the term. research two distinct research streams emerge. In reviewing ERP The first focuses on the fundamental corporate capabilities driving ERP as a strategic concept. A second stream focuses on the details associated with implementing information systems and their relative success and cost. This paper briefly discusses these research streams and suggests some ideas for related future research. Published in the European Journal of Operational Research 146(2), 2003 1 Introduction – The many views of ERP Speculation on the future development and success of ERP is the topic of many popular press articles. These articles, typically written by individuals associated with the ERP companies, are often focused on the merits of the featured software. Unfortunately, in order to distinguish the merits of alternate packages, authors find it useful to introduce new terms designed to......

Words: 4826 - Pages: 20

Strategic

...of the evolution of traditional concepts of strategic management and thinking, including models of business-level competitive advantage * Evaluate contemporary challenges to traditional strategic management and thinking models * Apply systems-thinking principles to the framing and analysis of business problems and opportunities * Develop innovative business strategies designed to achieve sustainable solutions * Synthesize principles of sustainable strategic management and thinking into a viable problem statement for use in the Doctoral Study project Course Materials Texts Harvard Business School Press. (2005). Strategy: Create and implement the best strategy for your business.Boston, MA: Author. Senge, P., Smith, B., Kruschwitz, N., Laur, J., & Schley, S. (2010).The necessary revolution: How individuals and organizations are working together to create a sustainable world. New York, NY: Doubleday. Stacey, R. (2011). Strategic management and organisational dynamics: The challenge of complexity (6th ed.). Essex, England: Pearson Education Limited. Required Readings Articles (Unless otherwise noted, from the Walden Library Online Databases) Freemen, R. E., Gilbert, Jr. D.R. & Hartman, E. (1988). Values and the foundations of strategic management. Journal of Business Ethics, 7(11), 821-834. Retrieved from Business Source Premier database. Hamel, G., & Prahalad, C. K. (2005). Strategic intent. Harvard Business Review,......

Words: 5304 - Pages: 22