INSEAD Library

Includes bibliographical references and index

Digitized

The Essential of Strategy Contents Introduction xiii 1 Strategy and the HR Professional Why Strategic HR Management Is Vital What Is Strategic HR Management? HR's Role as a Strategic Business Partner Essential Competencies Summing Up Leveraging Chapter Insights: Critical Questions 1 2 8 10 18 19 2 SWOT Analysis I Looking Outside for Opportunities and Threats Spotlight on External Analysis Workstyle and Lifestyle Trends Customers Price Sensitivity and Elasticity of Demand The Competitive Arena Emerging Technology Porter's Five Forces Framework Summing Up Leveraging Chapter Insights: Critical Questions 21 23 25 28 31 34 37 38 40 41 3 SWOT Analysis II Looking Inside for Strengths and Weaknesses Core Competencies Financial Strength 43 44 49 Management and Culture A Method for Evaluating Internai Strengths and Weaknesses Evaluating Your HR Department's Strategic Readiness Summing Up Leveraging Chapter Insights: Critical Questions 51 53 57 63 64 4 Types of Strategy Which Fits Your Business? Low-Cost Leadership Differentiation Customer Relationship Network Effect The Trade-offs of Selecting a Strategy Selecting a Business Strategy: Implications for HR Summing Up Leveraging Chapter Insights: Critical Questions 65 67 72 74 78 80 81 87 88 5 Strategic Moves The Mechanisms of Success Gaining a Market Beachhead Entering a New Market Through Process Innovation Applying Judo Strategy Entering a New Market Through Product Differentiation Creating and Dominating a New Market Buying Your Way In Summing Up Leveraging Chapter Insights: Critical Questions 89 90 93 94 96 98 100 103 104 6 From Strategy to Implementation Seeking Alignment Starting with the Right People Defining Supportive Activities Crafting the Right Organizational Structure Assessing Culture and Leadership Summing Up Leveraging Chapter Insights: Critical Questions 105 109 111 113 115 120 120 7 Aligning Your HR Strategy Key Practices Understanding the HR Strategy Alignment Process Developing Your HR Strategy: Crucial Considerations Structuring Your HR Function Strategically Making the Case for Your HR Strategy Summing Up Leveraging Chapter Insights: Critical Questions 123 125 127 133 138 141 142 8 Action Plans The Architecture of Implementation From Strategic Plan to Action Plans Set Unit Goals Agree on Performance Measures Formulate Action Steps Determine Needed Resources Identify Interlocks Estimate the Financial Impact A Sample HR Action Plan Summing Up Leveraging Chapter Insights: Critical Questions 145 146 149 150 152 153 155 157 159 162 163 9 How to Stay on Course Sensing and Responding to Deviations from Plan A Model for Staying on Course Progress Review Informal Checks Common Causes of Implementation Failure Contingency Plans Summing Up Leveraging Chapter Insights: Critical Questions 165 166 168 171 172 176 178 179 10 The People Side of Implementation Getting the Right People on Board Enlist the Support and Involvement of Key People Support the Plan with Consistent Behaviors and Messages 181 182 185 Develop Enabling Structures Celebrate Milestones Communicate Relentlessly Understand HR's Unique Role in the People Side Summing Up Leveraging Chapter Insights: Critical Questions 187 188 190 193 198 199 11 Implementing Human Capital Initiatives The Rubber Meets the Road Workforce Planning Recruiting and Selection Retention Compensation Training and Development Evaluating an HR Initiative's Strategic Impact Summing Up Leveraging Chapter Insights: Critical Questions 201 202 208 212 218 223 227 231 232 12 Strategy as Work in Progress Keep Looking Ahead How Well Is Your Strategy Working? Financial Analysis The Balanced Scorecard Market Analysis Warning Signs Leading Strategic Change Summing Up Leveraging Chapter Insights: Critical Questions 233 235 235 239 243 244 249 251 252 13 Developing and Leveraging Your Strategic Mind-set Next Steps forYou and Your HR Department The Advantages of a Strategic Mind-set in HR Sharpening Your Strategic Focus How Strategic Is Your HR Department? 256 261 267 255 Summing Up Leveraging Chapter Insights: Critical Questions 275 275 277 281 287 291 Appendix: Useful Implementation Tools Notes Glossary For Further Reading Additional Titles from the Society for Human Resource Management (SHRM) Index About the Subject Adviser About the Series Adviser About the Writers About the Society for Human Resource Management 303 305 317 319 321 323