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Corporate strategy: corporate-level strategy identifies the rationale for the portfolio of business that, in total, comprise the company as well as the ways in which these businesses relate to each other

Competitive Strategy: Next level down, a competitive strategy identifies how to build and strengthen the business's long-term competitive position in the marketplace

Functional strategy: Functional strategies are the basic courses of action that each of the business's department pursues to help the business attain its competitive goals.

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Ten Best Practice HR Tips - Human Rescource Best Practise | MeetTheBoss

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The Return on Investment of Human Resources | Best practices video by the Top Employers Institute

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CEOs often claim that "Our Human Capital is our most important asset...." But if human capital truly is an asset, why doesn't it appear on the balance sheet of organisations? Given the rather intangible character of human capital, HR is often seen as software rather than hardware.

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Definition

A contingency approach to management is based on the theory that management effectiveness is contingent, or dependent, upon the interplay between the application of management behaviors and specific situations. In other words, the way you manage should change depending on the circumstances. One size does not fit all.

Theory

The contingency approach to management finds its foundation in the contingency theory of leadership effectiveness developed by management psychologist Fred Fielder. The theory states that leadership effectiveness, as it relates to group effectiveness, is a component of two factors: task motivation, or relation motivation, and circumstances. You measure task motivation, or relation motivation, by the least preferred co-worker (LPC) scale.

The LPC scale asks the manager to think of the person they least like working with and then rate that person on a set of questions, each involving an 8-point scale. For example, a score of one would be uncooperative, and a score of eight would be cooperative. Fielder believed that people with a higher LPC score try to maintain harmony in their work relationships, while people with a lower LPC score are motivated to focus on task accomplishment.

The theory states that task or relations motivations are contingent upon whether the manager is able to both control and affect the group's situational favorability, or outcome. According to the theory, you can assess situational favorability by three factors:

1. Leader-member relations - This factor addresses the manager's perception of his cooperative relations with his subordinates. In other words, is the cooperation between you and your employees good or bad?

2. Task structure - This factor relates to whether the structure of the work task is highly structured, subject to standard procedures, and subject to adequate measures of assessment. Certain tasks are easy to structure, standardize and assess, such as the operation of an assembly line.

3. Position power - This factor asks if the manager's level of authority is based on punishing or rewarding behavior. For example, does the manger derive his authority from providing bonuses for meeting sales goals or terminating employees for failure to meet the goals?

The combination of leader-member relations, task structure and position power create different situations that have been coined octants one through eight. You can divide these eight situations into three broad categories: favorable situations, intermediate situations and unfavorable situations. According to the theory, each situation is handled the best by either high or low LPC managers. The theory argues that high LPC managers are most effective at influencing employee group behavior in intermediate situations, while low LPC managers are most effective in favorable or unfavorable situations.

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contingency approach of management: definition & example - video & lesson transcript | study.com

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Contingency Approach of Management: Definition & Example - Video & Lesson Transcript | Study.com

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A contingency approach to management is based on the theory that management effectiveness is contingent, or dependent, upon the interplay between the application of management behaviors and specific situations. In other words, the way you manage should change depending on the circumstances. One size does not fit all.

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Expressing and performing policies that produce the employee abilities and behaviors that the company needs to achieve its strategic aims.

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blahhhhhhh-- Created using PowToon -- Free sign up at http://www.powtoon.com/ . Make your own animated videos and animated presentations for free. PowToon is a free tool that allows you to develop cool animated clips and animated presentations for your website, office meeting, sales pitch, nonprofit fundraiser, product launch, video resume, or anything else you could use an animated explainer video.

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Work in the 21st Century: The Changing Role of Human Resources Jan 98

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· Job Analysis and Design:

· Recruitment and Selection

· Training and Development

· Performance Appraisal and Management

· Pay Structure, Incentives, and Benefits

· Industrial Relations

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• HR practices should complement and mutually reinforce each other

• Practices need to mesh with each other and reinforce the kinds of behaviour needed to implement strategy, and not send mixed and incompatible messages to employees

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• Selection practices

• Training practices

• Pay practices

• Appraisal practices

• Industrial relationships

• Job analysis and design

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Three Types of Strategic HR Fit

• Vertical Fit = Congruence between each HR practice individually and the organisation’s overall strategy

• Horizontal Fit = Various HR practices complement and mutually reinforce each other

• External Fit = HR practices align with the business, social, and legal environment outside the firm

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The “Fit” or Contingency Approach to HRM

• Organisations have different strategies

• They need to attract different kinds of people, and to elicit different kinds of behaviour form these people, to execute their strategy successfully

• HR policies and practices should be chosen to fit the strategy by procuring the needed people and eliciting the needed behaviours

• HR practices also need to fit with each other, and with the external environment

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Planning for Goal Achievement

Henry is vice president of the human resources department at a company that manufactures office furniture. He and his fellow VPs are meeting with the company's president to strategize for the future. As VP of human resources (HR), Henry is concerned about three different types of organizational planning and how they relate to each other. Let's take a quick look at each.

Strategic planning is a process used by an organization to determine its long-term vision and goals and how to accomplish them. It looks at where the company is, where it wants to be and what it needs to get there.

Human resources planning (HRP) is the process for anticipating the needs of the organization regarding the deployment of human resources in the most optimal manner possible. In other words, it's making sure that the organization has the right people with the right skills in the right places at the right time. Three key areas of focus include forecasting, or predicting, the organization's labor demand, analyzing the organization's current supply of labor and trying to balance the projected future demand against current supply.

Strategic human resource management (SHRM) involves melding strategic planning with human resource planning. It is the process by which human resources planning and activities are integrated into the organization's strategic plan so that human resource management (HRM) is clearly linked, or aligned, with the achievement of the organization's goals.

The company, with Henry's help, wants to effectively link, or align, human resource planning with its overall organizational strategy so they seamlessly fit together. Otherwise, HR planning may not be effective in helping achieve the goals of the company. For example, if the goal is cost cutting and savings and HR is spending buckets on hiring overpriced employees, then there is a misalignment of HR practices and organizational strategy.

As we discussed, strategic human resource planning is about linking human resources planning to the company's strategic planning to ensure that human resource activities are supporting and advancing the organization's strategy. Two key areas where human resources planning and organizational strategy need to be linked are at the time the organizational strategy is formulated and at the time it is implemented. Let's see why.

Human resources should play an important part in strategy formulation because human resources can help the company determine whether a strategy is feasible given current levels of human capital at the company, often referred to as 'inputs.' In other words, Henry can help determine whether the company currently has a sufficient number of employees with the requisite knowledge and skills to realistically pursue a strategy. For example, if the company wants to start its own e-store, Henry can help determine whether there are employees with the necessary skills currently available to implement the strategy.

Human resource planning is also important for strategy implementation. Remember, everything a company does takes resources, whether it is money, machines or people. Henry and HR play a vital role in the allocation of human resources throughout the implementation process. He makes sure the right people with the right skills are in place for successful implementation.

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aligning hrm and organizational strategy - video & lesson transcript | study.com

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Aligning HRM and Organizational Strategy - Video & Lesson Transcript | Study.com

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Henry is vice president of the human resources department at a company that manufactures office furniture. He and his fellow VPs are meeting with the company's president to strategize for the future. As VP of human resources (HR), Henry is concerned about three different types of organizational planning and how they relate to each other.

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In place to recruit, train and development, evaluate employee performance and reward employees along with quality

feedback

This ensures that everyone within the organization is working towards common goals and objectives through the human resource strategy

This also creates cohesion between employees within the firm and creates a more relaxed and motivated environment to increase performance and overall job satisfaction

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In short, HRM is a key component to success in a business, speipcally regards the welfare of employees.

It consists of;

- performance review details and notifications

- Training and certifications

- Position control budgeting

- Developing strategies to motivate employees to greater productivity

Solid HRM stragegy will allow the Organsiaton to;

- Have a strong relations with its workers

- Co exist in a mutually beneficial manner within the community

- Help the company reach its goals

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1. What are our strategic plans and goals?
2. What employee behaviors and skills do we need to achieve our strategic aims?
3. What HR policies and practices will enable us to produce the necessary employee behaviors and skills?
As a human resource manager, he/she needs to be able to answer these three questions in order to succeed in the companies strategic planning.

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The manager’s aim must be to produce the employee skills and behaviors in order for the company reach its strategic plan through these following aspects:

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What's the Function of Human Resource Management :)