2-2 Model of the Strategic Management Process Strategy FormulationStrategy Implementation HR Practices Recruiting, Training, Performance management, Labor relations, Employee relations, Job analysis Job design, Selection, Development, Pay structure, Incentives, Benefits Firm Performance Productivity, Quality, Profitability Human Resource Actions Behaviors, Results Human Resource Capability Skills, Abilities, Knowledge Human Resource Needs Skills Behavior Culture Strategic Choice Goals Mission External Analysis Opportunities Threats Internal Analysis Strengths Weaknesses Forecasts of Labor Demand
2-3 Strategy Implementation Product market strategy Reward systems Selection, training, and development of people Types of Information Organizational structure Task Design Performance
2-4 HRM Needs in Strategic Types Different strategies require different types of employees. Role Behaviors: –Cost strategy firms seek efficiency and therefore carefully define the skills they need in employees and use worker participation to seek cost-saving ideas. –Differentiation firms need creative risk takers.