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Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-1 Mergers, Acquisitions, and Strategic Human Resource Management Chapter 3

Fall2012 ppt ch03 dessler

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Page 1: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-1

Mergers, Acquisitions, and Strategic Human Resource Management

Chapter 3

Page 2: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-2

What is strategic HRM?

1. Decide on the strategic goals

2. Identify employee skills and behaviors necessary for

success

3. Formulate HR management policies and practices that will produce these required skills

Strategic HRM is developed through three steps:

Page 3: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-3

The Strategic Management Process

The process begins by developing a strategic plan that describes how internal strengths and weaknesses will be matched with external opportunities and threats

Page 4: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-4

Steps in Strategic Management

Page 5: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-5

Step 1: Define the current business

Begin by asking these questions:

– What products do we sell?

– Where do we sell these products?

– How do our products or services differ from our competitors?

Page 6: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-6

Step 2: Perform External and Internal Situational Audits

• The key to success is adaptation• Situational audits require SWOT (strengths,

weaknesses, opportunities, and threats) analysis

Page 7: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-7

Step 3: Formulate a New Business Direction

• What should our new business be in terms of product, placement and competitive advantage?

• The vision statement describes the following: What do we want to become?

• The mission statement explains the following: Where are we now?

Page 8: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-8

Step 4: Translate the Mission into Strategic Goals

• Operationalize the mission for managers

• What does the mission mean to each department?

• What goals follow implementation?

Page 9: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-9

Step 5: Formulate Strategies to Achieve the Strategic Goals

• What is the game plan?

• Decide on a course of action

– Best strategies are concise

– Easily communicated

Page 10: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-10

Step 6: Implement the Strategies

• Get the game plan going

• Do what needs to be done

– Hire or fire people

– Build or close plants

– Adding or eliminating products and product lines

Page 11: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-11

Step 7: Evaluate Performance

• Evaluate, evaluate, evaluate

• Ongoing process vis-à-vis strategic control

• Addresses the following questions:

– Are resources being utilized as planned?

– Are discrepancies explained?

– Do changes in our situation suggest change?

Page 12: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-12

Types of Strategies

Page 13: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-13

Corporate Strategy

• Top-level, company-wide

• Identifies the portfolio of existing business segments

• Strategic possibilities include the following:

– Diversification or vertical integration

– Consolidation

– Geographic expansion

Page 14: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-14

Competitive Strategy

• Identifies how to build upon and strengthen the business’s long-term marketplace position

• Identifies and develops competitive advantage

Page 15: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-15

Competitive Advantage

• Cost leadership indicates that the enterprise intends to become the low-cost leader in the industry

• Differentiation strategies seek to be unique in its industry along dimensions valued by buyers

• Focusers carve out niche markets and compete by providing a product/service that customers can get through no other means

Page 16: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-16

Functional Strategies• Identifies basic courses of action that each

department will pursue to achieve strategic goals – consider Southwest Airlines

Page 17: Fall2012 ppt ch03 dessler

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The Importance of Leverage

• Leverage means supplementing what you have and doing more with what you’ve got!

• Human resources can be a crucial competitive advantage!

Page 18: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-18

HRM Creates Competitive Advantage

Page 19: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-19

Four Important Strategic HR Issues

1. HR must understand that employees play a key role in employers’ performance improvement efforts

2. HR teams should support corporate productivity and performance improvement efforts

Page 20: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-20

3. HR units must be more involved in designing – not just executing – the strategic plan

4. HR managers must understand how to create value

Four Important Strategic HR Issues, cont.

Page 21: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-21

How Involved Is HR in Strategic Management?

Page 22: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-22

What Roles Does HR Play?

• Strategy execution

• Strategy formulation

• SWOT analysis

Page 23: Fall2012 ppt ch03 dessler

Copyright © 2009 Pearson Education, Inc. publishing as Prentice Hall 3-23

Translating Strategy into HR Policy and Practice