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CHAPTER 3 : PERFORMANCE MANAGEMENT AND STRATEGIC PLANNING - Coggle Diagram
CHAPTER 3 :
PERFORMANCE MANAGEMENT AND STRATEGIC PLANNING
DEFINITION
Process
Describe organization’s destination
Assess barriers
Select approaches for moving forward
STRATEGIC PLANNING : GOAL
Allocate resources to provide organization with competitive advantage
PURPOSE
Help define the organization’s identity
Help organization prepare for the future
Enhance ability to adapt to environmental change
OVERVIEW
Environmental 2. Analysis
Mission
Vision
Goals
Strategies
MISSION
Information on organization’s
Basic product/service to be offered
Primary market/customer groups
Unique benefits and advantages of product/services
Technology to be used
Concern for survival through growth and profitability
ENVIRONMENTAL ANALYSIS
Identifies external and internal trends
To understand broad industry issues
To make decisions using “big picture” context
EXTERNAL
Opportunities
environmental characteristics that can help the organization succeed
Threats
environmental characteristics that can prevent the organization from being successful
Factor to consider
Economic
Political/Legal
Social
Technological
INTERNAL
Strengths
internal characteristics that the organization can use for its advantage
Weaknesses
internal characteristics that can hinder the success of the organization
Factor to consider
Organizational structure
Organizational culture
Politics
Processes
Size
Strategic Plan 6 Choices in PM System Design
Level of Criteria (Individual vs. Team/Group)
System Orientation (Developmental vs. Administrative)
Temporal Dimension (Short Term vs. Long Term)
Participation (Low vs. High)
Rewards (Pay for Performance vs. Tenure/Position)
Criteria (Behavior vs. Results)
VISSION
8 Characteristic a good vission
Current
Focused
Bound by a Timeline
Understandable
Verifiable
Inspiring
Brief
A stretch
HOW HR FUNCTION CONTRIBUTES
Communicate knowledge of strategic plan
Provide knowledge of KSAs needed for strategy implementation
Propose reward systems