Balanced Scorecard Organizations and upper-management often use a Strengths, Weaknesses, Opportunities, Threats, and Trends (SWOTT) analysis model to concentrate on the company’s competitive advantages, their possibilities, evaluate how to improve susceptibilities, and avoid coercion. Organizations depend on SWOTT analysis to remain successful in their industries. For a business to be successful and sustain their performance, the entity is obligated by their external environment to generate strategic objectives and constantly evaluate its vision and mission. Organizations must reflect on their mission and vision frequently to assess each for validity, consistency, and making sure the objectives are components useful to the desired vision. Businesses require a tool to measure the execution of objectives.
14. Which of the following best describes a dynamic organization? A. Creating organizations that continually focus on the internal processes to achieve goals B. Building an organization by grouping jobs into work units and allocating resources C. Identifying business functions and mobilizing leaders D. Being flexible and responsive towards customer needs and the competitive environment Correct!
The resource based view argues that companies posses some unique resources (assets and capabilities) and competitive advantage is acquired by accumulating those strategic assets. Resources are any tangible (equipment, raw material) or intangible (firm image, processes, routines) things that a company owns and can use to carry out its crucial processes. Resource based view focuses on the resources and capabilities possessed by the firm to analyze the profitability and value. According to the view an organization is a bundle of resources, which fall into five general categories of financial resources, physical resources, human resources, knowledge and learning resources, and general organizational resources. The Tootsie Roll Industries efficiency employs further review in tangible resources, intangible resources, capabilities, and core competencies as a strategy to achieve the highest ranking in the candy market.
| b. | This model involves a two-way relationship with the firm's stakeholders. | c. | A company basically produces at a level equal to the amount of input received from investors, suppliers, and employees. | d. | Open communication between employees and management creates the input-output flow in an organization. | e. | In order to create final products or output, an organization must have several different inputs.
Sierra Group also uses assigned dedicated project manager to coordinate customer request while IMS utilizes a single service center to handle all customer requests. Each company has similarities and differences in the organizational structure. Each organizational structure is responsible for different task. The organizational structure of the human resource department is an example. The human resource department has to assure there is recruitment of skilled employees to fit into open positions.
These forces encompass raw materials, instant capital, and people. Other factors PepsiCo faces are labor skills, socioeconomic opportunities, including uniqueness, and division in population, labor costs, gender, race, class, language barriers, trading arrangements, technology, and ambiguous rules (International Business, 2005). Response PepsiCo responds by defining core beliefs by making the utmost of diversity assets and aptitudes to aid corporate success. The organization takes abundant care to interlace diversity and presence into the culture to progress as a global, and multicultural organization adept at serving the world’s societies effectively ("Performance with Purpose" 2011).
Human Resource Management Week 1 Assignment 1. Why do you think is it important for HR to be a strategic partner to the business? HR is an important strategic partner to any business, because it identifies the needs and future needs of the organizations that they are representing. HR is a direct connection to the employee, management and the organization ultimate goals. These ultimate goals are met by the basic functions of HR which are planning, organizing, leading, and controlling.
Goal management is about more than just the assigning goals and reviewing of employee performance. It’s about getting every employee to use and develop their talents, skills and experience to help the organization meet its overarching goals. Goal alignment plays a key role in effective goal management. Every employee's role and every employee goal should be tied to the organization's overall strategy, not just to their manager's success. That way you can rationalize conflicting priorities, based on a higher level common goal.
Job design is met to organize each task of what each employee is supposed to do; this way everyone is working towards the larger goal for an organization (Gomez-Mejia, Balkin, & Cardy, 2010). The reason why it is so important to have job design is because of three important influences; work-flow analysis, business strategy, and organizational structure. With these three, human resources management can than gather the information to perform a job analysis. This determines whether or not everyone in the organization is doing their part to reach the organizational goal. This will also determine if additional staff is needed or if they may have too many staff.
2. Explain the importance of measuring competencies Competencies are what organizations’ need to know and understand. Strategies implement the competent force of employees. Many organizations develop competency representations aligned with organizational strategy and have linked them to Human Resources (HR) processes. A competency ideal describes the combination of knowledge, skills, and qualities needed for employees.