The Essentials of Strategy

by Harvard Business School Publishing

• ISBN13: 9781591398226
• ISBN10: 1591398223
• Edition: 1st
• Format: Paperback
• Copyright: 2006-11-30
• Publisher: INGRAM

Summary

SHRM is the world's largest professional association devoted to human resource management. Representing more than 170,000 individual members, the Society's mission is to serve the needs of HR professionals by providing the most essential and comprehensive resources available. As an influential voice, the Society's mission is also to advance the human resource profession to ensure that HR is recognized as an essential partner in developing and executing organizational strategy.The purpose of the co-branded series of books is to help HR professionals develop the knowledge and skills related to, but outside, the HR domain in order to make more strategic contributions to their organizations. These books will help HR professionals "have a seat at the table" by becoming more proficient and literate in areas such as finance, negotiation, strategy, change management, etc.The reading line for these books, which will appear on the front jacket, is: Develop the Knowledge, Tools, and Capabilities to Become a Strategic Player.The content for the books in this series will be drawn, as much as possible, from existing HBSP sources, particularly the Harvard Business Essentials line of books.

Table of Contents

Introduction	xiii
1 Strategy and the HR Professional	1	(20)
Why Strategic HR Management Is Vital
What Is Strategic HR Management?	2	(6)
HR's Role as a Strategic Business Partner	8	(2)
Essential Competencies	10	(8)
Summing Up	18	(1)
Leveraging Chapter Insights: Critical Questions	19	(2)
2 SWOT Analysis I	21	(22)
Looking Outside for Opportunities and Threats
Spotlight on External Analysis	23	(2)
Workstyle and Lifestyle Trends	25	(3)
Customers	28	(3)
Price Sensitivity and Elasticity of Demand	31	(3)
The Competitive Arena	34	(3)
Emerging Technology	37	(1)
Porter's Five Forces Framework	38	(2)
Summing Up	40	(1)
Leveraging Chapter Insights: Critical Questions	41	(2)
3 SWOT Analysis II	43	(22)
Looking Inside for Strengths and Weaknesses
Core Competencies	44	(5)
Financial Strength	49	(2)
Management and Culture	51	(2)
A Method for Evaluating Internal Strengths and Weaknesses	53	(4)
Evaluating Your HR Department's Strategic Readiness	57	(6)
Summing Up	63	(1)
Leveraging Chapter Insights: Critical Questions	64	(1)
4 Types of Strategy	65	(24)
Which Fits Your Business?
Low-Cost Leadership	67	(5)
Differentiation	72	(2)
Customer Relationship	74	(4)
Network Effect	78	(2)
The Trade-offs of Selecting a Strategy	80	(1)
Selecting a Business Strategy: Implications for HR	81	(6)
Summing Up	87	(1)
Leveraging Chapter Insights: Critical Questions	88	(1)
5 Strategic Moves	89	(16)
The Mechanisms of Success
Gaining a Market Beachhead	90	(3)
Entering a New Market Through Process Innovation	93	(1)
Applying Judo Strategy	94	(2)
Entering a New Market Through Product Differentiation	96	(2)
Creating and Dominating a New Market	98	(2)
Buying Your Way In	100	(3)
Summing Up	103	(1)
Leveraging Chapter Insights: Critical Questions	104	(1)
6 From Strategy to Implementation	105	(18)
Seeking Alignment
Starting with the Right People	109	(2)
Defining Supportive Activities	111	(2)
Crafting the Right Organizational Structure	113	(2)
Assessing Culture and Leadership	115	(5)
Summing Up	120	(1)
Leveraging Chapter Insights: Critical Questions	120	(3)
7 Aligning Your HR Strategy	123	(22)
Key Practices
Understanding the HR Strategy Alignment Process	125	(2)
Developing Your HR Strategy: Crucial Considerations	127	(6)
Structuring Your HR Function Strategically	133	(5)
Making the Case for Your HR Strategy	138	(3)
Summing Up	141	(1)
Leveraging Chapter Insights: Critical Questions	142	(3)
8 Action Plans	145	(20)
The Architecture of Implementation
From Strategic Plan to Action Plans	146	(3)
Set Unit Goals	149	(1)
Agree on Performance Measures	150	(2)
Formulate Action Steps	152	(1)
Determine Needed Resources	153	(2)
Identify Interlocks	155	(2)
Estimate the Financial Impact	157	(2)
A Sample HR Action Plan	159	(3)
Summing Up	162	(1)
Leveraging Chapter Insights: Critical Questions	163	(2)
9 How to Stay on Course	165	(16)
Sensing and Responding to Deviations from Plan
A Model for Staying on Course	166	(2)
Progress Review	168	(3)
Informal Checks	171	(1)
Common Causes of Implementation Failure	172	(4)
Contingency Plans	176	(2)
Summing Up	178	(1)
Leveraging Chapter Insights: Critical Questions	179	(2)
10 The People Side of Implementation	181	(20)
Getting the Right People on Board
Enlist the Support and Involvement of Key People	182	(3)
Support the Plan with Consistent Behaviors and Messages	185	(2)
Develop Enabling Structures	187	(1)
Celebrate Milestones	188	(2)
Communicate Relentlessly	190	(3)
Understand HR's Unique Role in the People Side	193	(5)
Summing Up	198	(1)
Leveraging Chapter Insights: Critical Questions	199	(2)
11 Implementing Human Capital Initiatives	201	(32)
The Rubber Meets the Road
Workforce Planning	202	(6)
Recruiting and Selection	208	(4)
Retention	212	(6)
Compensation	218	(5)
Training and Development	223	(4)
Evaluating an HR Initiative's Strategic Impact	227	(4)
Summing Up	231	(1)
Leveraging Chapter Insights: Critical Questions	232	(1)
12 Strategy as Work in Progress	233	(22)
Keep Looking Ahead
How Well Is Your Strategy Working?	235	(1)
Financial Analysis	235	(4)
The Balanced Scorecard	239	(4)
Market Analysis	243	(1)
Warning Signs	244	(5)
Leading Strategic Change	249	(2)
Summing Up	251	(1)
Leveraging Chapter Insights: Critical Questions	252	(3)
13 Developing and Leveraging Your Strategic Mind-set	255	(22)
Next Steps for You and Your HR Department
The Advantages of a Strategic Mind-set in HR	256	(5)
Sharpening Your Strategic Focus	261	(6)
How Strategic Is Your HR Department?	267	(8)
Summing Up	275	(1)
Leveraging Chapter Insights: Critical Questions	275	(2)
Appendix: Useful Implementation Tools	277	(4)
Notes	281	(6)
Glossary	287	(4)
For Further Reading	291	(12)
Additional Titles from the Society for Human Resource Management (SHRM)	303	(2)
Index	305	(12)
About the Subject Adviser	317	(2)
About the Series Adviser	319	(2)
About the Writers	321	(2)
About the Society for Human Resource Management	323