SHRM

Concept of strategic management

Strategic Human Resource Management Involves aligning initiatives involving how people

are managed with organizational mission and objectives

Strategic Management Process Determining what needs to be done to achieve

corporate objectives, often over 3 - 5 years Examining organization and competitive

environment Establishing optimal fit between organization and

its environment Reviewing and revising strategic plan

Mission statementEnvironmental analysisOrganizational self-assessmentEstablishing goals and objectives

Explains purpose and reason for existence

Usually very broadNo more than a couple of sentencesServes as foundation for everything

organization does

• To achieve international standards of excellence in all aspects of hydro power and diversified business.

• To execute and operate projects in a cost effective, environment friendly and socio-economically responsive manner.

• To foster competent trained and multi-disciplinary human capital.

• To continually develop state-of-the-art technologies through innovative R&D and adopt best practices.

• To adopt the best practices of corporate governance and institutionalize value based management for a strong corporate identity.

Critical components of external environment Competition Industry structure Government regulations Technology Market trends Economic tends

Critical components of external environment Competition Industry structure Government regulations Technology Market trends Economic tends

Identify primary strengths and weaknesses

Find ways to capitalize on strengths Find ways to improve or minimize

weaknesses Examine resources

Physical Human Technological Capital

Examine internal management systems Culture Organization structure Power dynamics and policy Decision-making processes Past strategy and performance Work systems

Examine internal management systems Culture Organization structure Power dynamics and policy Decision-making processes Past strategy and performance Work systems

Goals should be: Specific Measurable Flexible