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Module 1: Strategic Business Management

12% PHR (27 questions) 29% SPHR (65 questions)


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HR Roles

Historical: Advice Service Control

Current: Strategic Operational Administrative

Historical roles are still important, but roles have broadened into todays more strategic focus.
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Changes in the HR Profession


Workforce/workplace changes Globalization Emphasis on ethics Flexible organizational boundaries Require:
Clarification of HRs contribution to business outcomes Alignment of human capital and corporate strategy Technology
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Key Trend: Offshoring


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Domestic HR challenges
Displaced workers Changes in work requirements Decline in employee morale Impacts on available skills in domestic job pool

International HR challenges
Recruiting, managing, and motivating the new workforce Ensuring communication and coordination Acculturation of new workforce

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Key Trend: Mergers, Acquisitions, and Divestiture


SPHR only

1. Identify issues, form and train teams, and prepare for change. 2. Investigate structural, technological, financial, legal, and cultural risks. 3. Develop plans to address key issues. 4. Measure activity of new organization against benchmarks.
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Management Functions

Planning

Organizing

Directing

Controlling

Forecast Set goals


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Design Assist

Schedule Implement

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Project Management Steps

Roles
Interpersonal Leader
Liaison

Informational Communicator
Information disseminator

Decisional Conflict resolver


Resource allocator

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Project Planning Tool: Gantt Chart


Also known as horizontal bar chart, milestone chart, or activity chart. Plots the sequential steps of a project against time.

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Project Planning Tool: PERT Chart


An arrow diagram or road map identifying all major events Shows how much time is needed to complete a project.

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Change Management Model

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A company must immediately downsize its workforce by 15% due to shrinking markets. What important role will HR play during the process? A. Form new work teams based on the gaps created by the layoffs. B. Summarize industry trends and communicate them to employees. C. Ensure that top management regularly communicates with employees. D. Launch a new quality initiative to preserve customer satisfaction. Answer: C
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The Outsourcing Process


1. Analyze needs and define goals. 2. Define budget. 3. Create RFP. 4. Send RFPs to contractors. 5. Evaluate contractor proposals. 6. Choose contractor. 7. Negotiate contract. 8. Implement and monitor. 9. Evaluate.

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Managing Technology Trends

E-procurement

Electronic record keeping

Electronic signatures
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Application service providers (ASPs)


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Strategic Planning Process


Defines where the organization is now, where it wants to be, and how it will get there. Gathers internal and external information. Develops alternative strategies. Selects appropriate strategies. Implements a plan. Evaluates and revises the plan as needed.

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Phase 1: Strategy Formulation

Strategy Formulation
Develop vision and mission statements. Define organizational values.

Must understand: What business the company is in. When to change the mission and alter strategy. How and when to communicate the mission.
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Phase 2: Strategy Development

Strategy Development
Conduct a SWOT analysis, including an environmental scan. Establish long-term objectives (three to five years). Identify corporate/ organization, business unit, and functional strategies.

S = W = O = T =

Internal strengths Internal weaknesses External opportunities External threats

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Phase 3: Strategy Implementation

Strategy Implementation
Establish short-term objectives (six months to a year). Develop action plans. Allocate resources. Motivate employees.

Resources needed to achieve objectives: Financial Physical Human Technological

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Phase 4: Strategy Evaluation

Strategy Evaluation
Review strategies at planned intervals. Measure performance. Take corrective action.

Assess strategies by noting changes in:


Internal strengths and weaknesses. External opportunities and threats.

Take corrective action when changes have occurred.


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Which of the following activities best prepares HR to participate in the strategic planning process?
A. Evaluating a new HRIS system B. Restructuring HRs recruiting system C. Training line managers on interviewing techniques D. Reviewing the companys key financial data Answer: D
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Understanding the Internal Environment

Understand the perspective of your business partners. Create communication and collaboration. Identify internal needs and emerging issues.

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Finance and Accounting


Finance helps business units with financial needs.
Pricing products Creating financial models

Accounting balances the checkbook of the company.


Accounts receivable Accounts payable

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Budgeting Methods
Prior budget and newly identified needs are the basis for funding.

Incremental

Formula

Usually stated as a percentage of increase or decrease to general funding.

Zero-based

All objectives and operations are ranked and funds are allocated according to rank. Budgets start at zero; all expenditures must be justified.

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Balance Sheet
Summarizes the firms financial position. Basic form of the sheet is: Assets = Liabilities + Equity. Every financial transaction is an exchange, and both sides are recorded. Only records transactions measured in money.

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Balance Sheet
Assets
Current assets Fixed assets Investments Total assets
310,000 $

$70,000 $20,000 $400,000

Liabilities and equity


Current liabilities Equity Total liabilities and equity
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$145,000 $255,000 $400,000


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Income Statement
Explains revenues, expenses, and profits over a specified period of time.
Basic form of the statement is: Revenues Expenses = Net income. Some expenses are never cash outflows (depreciation). Some expenses may be paid partly in one period and partly in another (cost of goods sold). Owner withdrawals are distributions, not operating expenses.
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Income Statement
Gross sales (revenues) Less cost of goods sold Gross profit Less expenses: Salaries Rent Utilities Depreciation Interest Subtotal of expenses: Income less expenses Income tax expense Net income
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$360,000 $240,000 $120,000 $50,000 $20,000 $18,000 $7,200 $1,800 $3,000 $50,000 $70,000 $28,000 $42,000
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Marketing and Sales


Marketing: Plan, price, promote, and distribute goods and services.
Place

Product

Promotion

Key elements

Price

Sales: Sell the organization's product to the marketplace.


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Operations
Goal: To provide goods and services to customers. Focuses on productivity, quality, cost, delivery, and performance. Affected by supply chain management.
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Capacity

Control Key concepts

Standards

Inventory

Scheduling

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A company commits to answering all phone calls within 15 seconds. Which operational concept deals with observing and documenting actual results?
A. B. C. D. Capacity Inventory Scheduling Control

Answer: D
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Information Technology
Enables an organization to use information to support its strategic objectives.
Strategic information systems are designed to achieve competitive superiority.
Airline reservation systems

Operational systems focus on reducing costs or improving productivity.


Remote access systems that allow telecommuting

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Employees

Engagement
Employees willingness to go the extra mile How employees describe the organization Whether employees choose to remain How employees work

Human Capital
Combined knowledge, skills, and experience of employees Leads to creativity and competitive advantage

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Evolution of Organizations

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Cost Leadership Strategy


Goal: To be the low-cost producer.
Requires: Exploitation of all sources of cost advantage. Efficiency and productivity. Sharing of information. Centralized decision making. Cross-training and job rotation. Process improvements.
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Differentiation Strategy
Goal: Attempt to set the product apart from its competition by giving it unique characteristics for which customers will pay a premium price. Requires:
Reduced costs in areas not related to differentiation. Strong research and development and marketing. Product knowledge and quality training. Decentralized decision making for quicker speed to market.

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Other Strategies
Another generic Porter strategy that places emphasis on a buyer group, a segment of the product line, or a specific market within an industry

Focus

Human capital advantage

Investment in people

Customer intimacy

Emphasis on understanding customer needs and helping them get the most out of their products

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Specialization and Departmentalization Specialization: Degree to which processes are divided into tasks and grouped into jobs
Balances need for productivity with employee satisfaction

Departmentalization: The way an organization groups jobs so work can be coordinated


Functional, divisional, or matrix
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Functional Structure

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Divisional Structure

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Matrix Structure

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Authority and Reporting Issues


Chain of Command
Line of authority within an organization Defines the boundaries within which a manager can make decisions

Span of Control
Number of individuals who report to a supervisor
Narrow span (tall organization) Wide span (flat organization)

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Centralization and Decentralization

Formalization: Degree of discretion individuals have over how to perform their work.
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Environmental Scanning
Interprets data related to external opportunities and threats. Prepares HR to participate in strategic planning. Examines seven key factors:
Demographic Economic Employment International Political Social Technological

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Demographic Factors
Age Gender Generational differences Population shifts Ethnicity Unskilled labor Nontraditional labor force

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Economic Factors

GDP

Interest rates

CPI

Economic Factors

Inflation

Disposable income
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Employment Factors
Attitude toward careers Immigration Occupational and industry shifts Recruitment Unions Unemployment Turnover Relocation

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International Factors
European Union Wage comparisons Trade agreements International labor law Globalization

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Other Factors

Political Legislation and regulatory guidelines

Social Changing definition of families Strain on health-care systems

Technological Advances Skills Digital divide Process changes

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ROI
Measures the economic return on a project or investment. ROI =

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Cost-Benefit Analysis
Determines the financial impact that programs have on company profitability. Presents data as a ratio.

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Break-Even Analysis
Determines the point in time at which total revenue associated with an HR program is equal to the total cost of the program.

* Time = The period of time most relevant to the analysis.


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HR is launching a company-wide training initiative. How can HR determine when the anticipated revenue return will exceed the cost of developing the program? A. B. C. D. Calculate gross margin. Calculate return on investment. Conduct a cost-benefit analysis. Conduct a break-even analysis.

Answer: D
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Balanced Scorecard

Customers

Finance

Mission Vision Values

Business processes

Learning and growth

Aligns business function measures with organizational strategies. Measures the effectiveness of a department or the entire company. Considers perspective of all stakeholders.
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For a balanced scorecard system to be implemented effectively, it should


A. be introduced simultaneously to all divisions and departments. B. start at the bottom of the organization and work its way to the top. C. focus on specific measures that support business strategies. D. concentrate on tracking and reporting financial results. Answer: C
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HR Audit
Analyzes effectiveness and efficiency of HR programs. Keeps executives current on HR activities. Allows HR managers to cut or enhance programs and address noncompliance. Conducted by HR staff or a third-party contractor.

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Other Measurement Methods


Organizations most important issues (e.g., dollar sales per employee or percentage of workforce that is unionized) Human capital ROI Turnover cost Compensation as a percentage of operating expense Training investment factor Time to start Cost per hire

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Inductive and Deductive Reasoning


Inductive (from specific to general)
Looks at a set of observations and designs a rule. Joe, John, and Mary are top salespeople and have accounting backgrounds. Therefore, for this job accounting background indicates success.

Deductive (from general to specific)


Starts with a general rule and deduces specific instances. Research shows that units led by controlling managers have decreased morale. John is a controlling manager. His unit will suffer morale problems.

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Primary and Secondary Research

Primary
(data gathered firsthand) Experimental Pilot projects Surveys/questionnaires Interviews Focus groups Direct observation Testing

Secondary
(data gathered by others) Historical data Benchmarking and bestpractices reports Purchased data Professional publications Secondhand reports

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Scientific Method

1 2 3 4 5
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Problem specification Hypothesis formulation Experimental design Data collection Data analysis
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Step 1: Problem Specification


State the problem as a question. Identify key factors that contribute to the problem.

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Step 2: Hypothesis Formulation


Restate problem as a testable prediction. State the relationship between two factors that can be tested.

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Step 3: Experimental Design (Classic) Subjects are randomly assigned to two equal groups. Experimental group is exposed to the variable; control group is not exposed to the variable.
Experimental group Control group R R O O X O O

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Step 3: Experimental Design (Quasi-Experimental) Subjects are not assigned at random. Experimental group is exposed to the variable; control group is not exposed to the variable.
Experimental group Control group O O X O O

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Steps 4 and 5: Data Collection and Analysis Step 4: Data Collection


Data is gathered through primary and secondary research methods.

Step 5: Data Analysis


Data is analyzed and placed into a useful context.
Quantitative analysis: Based on numeric data that is analyzed with statistical methods Qualitative analysis: Based on research that supplies non-numeric data
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Descriptive Statistics: Measures of Central Tendency

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Given the following data, what is the mode? 2


A. B. C. D. 3 4 5 6

Answer: C
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Descriptive Statistics: Measures of Variation Provide an indicator of variation around central tendency values.
Range: Distance between highest and lowest scores. Percentile: Specific point that has a given percentage of cases below it. Standard deviation: How much scores are spread out around a mean.

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Descriptive Statistics: Measures of AssociationCorrelation Shows the relationship between two variables.

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Descriptive Statistics: Measures of AssociationRegression

Refers to a statistical method used to predict a variable from one or more predictor variables. Determines whether a relationship exists between variables and the strength of the relationship. Causal relationship exists when two variables are related in some way.

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Inferential Statistics
Form a conclusion by studying a sample of the population. Population: Entire group (all employees). Sample: Part of the population (20 random employees). Normal distribution: Expected distribution given a random sampling of a large population.

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Qualitative Analysis
Most useful for:
Depth of information. Brainstorming and idea generation. Discovering underlying motivation, feelings, values, attitudes, and perceptions.

Gathered from:
Interviews. Surveys and questionnaires. Observation, file studies, testing.

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Reliability
Ability of an instrument to measure consistently. Test A scores are more consistent. This test is considered reliable.
Candidate

Test A
90 89 92 92 90 94

Test B
87 79 81 95 86 93

Form 1 Form 2 Form 1 Form 2

1 2 3

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Validity
Ability of an instrument to measure what it is intended to measure. Answers the questions:
What does the instrument measure? How well does it measure it?

A reliable instrument is not always valid. A valid instrument is always reliable.

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Ethics
System of moral principles and values that establish appropriate conduct.
Ethics is not synonymous with legality.

HR assumes a key role in creating an ethical organization by:


Participating in the creation of an ethics policy. Determining supportive procedures and training. Creating a culture that values ethics. Conducting investigations and applying discipline.

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Which of the following would NOT be an ethical violation for an HR manager?


A. Recommending a qualified friend for an open position B. Telling a friend in private that layoffs will occur C. Having ownership in an outside firm under contract to the organization D. Allowing surveillance of locker room areas Answer: A

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Ethical Issues
Board of directors training Workplace privacy Whistleblowing Conflict of interest Bribes, payoffs, and kickbacks Insider trading Cultural clashes Copyrights Corporate responsibility

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Legislative and Regulatory Environment Laws are actions passed by Congress and state legislatures. Regulations reflect how laws will be implemented and often have the force of law.
Regulatory agencies may issue guidelines that interpret how regulations will be enforced.

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Rule-Making Process
Laws are made by legislatures, and rules are made by agencies.

The public may comment via public hearings, conversation, e-mail, or letter for a specified time period.
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