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CHAPTER 3: PERFORMANCE MANAGEMENT & STRATEGIC PLANNING - Coggle Diagram
CHAPTER 3: PERFORMANCE MANAGEMENT & STRATEGIC PLANNING
Strategic planning is a process that involve
Assess barriers
Select approaches for moving forward
Describe organization destination
The main goal of strategic planning is to
Allocate resources
and to provide organization with competitive advantage
STRATEGIC PLANNING PURPOSES
Provides focus and allows better allocation of resources
Produces an organizational culture of cooperation
Enhances ability to adapt to environmental changes
Allow for consideration of new options and opportunities
Helps organizations prepare the future
Provide employees with information to direct daily activities
Help define the organization identity
ALIGNMENT OF STRATEGIC PLAN WITH PERFORMANCE
Units Strategic Plan
Vision
Goals
Mission
Strategies
Job description
Tasks
KSAs
Organization Strategic Plan
Goals
Vission
Strategies
Mission
Individual and team performance
Behaviors
Development plan
Result
Strategic Planning Overview
STRATEGIES
Create strategies or Game Plan or How to procedures to reach the stated objectives
Strategies could address issues of
Turnaround
Stability
Innovation
Leadership
Growth
Survival
Remain discussion of how to fulfil the misison and vison and how to achieve the stated goals
MISSION
A. information on organization
Primary market/ customer groups
Unique benefits and advantage of product
Basic product/ service to offer
technology to be used
Concern for survival through growth and profitability
B. Information on organization values and belief
Public image sought by organization
Self-concept of business adopt by: employee and stockholders
Managerial philosophy
VISION
Description of what the organization would like to become in the future
Several feature that required of useful vision statement
Focused attention on what is important
Provide context of evaluating
Opportunities
Threats
Statement of future aspirations
A good vision statement is
Bound by a timeline
Current
verifiable
Focused
Brief
Understandable
Inspiring
A stretch
GOALS
Purposes for setting goals
Provide tangible targets
Provide basis for good decisions
Provide motivation
Provide basis for performance measurements
Formalize expected achievement
ENVIRONMENTAL ANALYSIS
EXTERNAL TRENDS
OPPORTUNITIES
Environmental characteristics that can help the organization succeed
example: market not currently being served, untapped labor pools, and new technological advances
THREATS
Environmental characteristics that can prevent the organization from being successful
Example: Treats range from economist recession to innovative product of competitors
Factor to consider
Political?Legal
Social
Economic
Technological
Competitors
Customers
Suppliers
INTERNAL TRENDS
WEAKNESSES
Internal characteristics that can hinder the success of the organization
FACTORS TO CONSIDER
Politics
Processes
Organizational culture
Size
Organizational structure
STRENGHTS
Internal characteristics that the organization can use for advantage
example: the organization assets and the staff key skills
STRATEGIC PLAN AT THE UNIT LEVEL
Vison statement
Beneficial for the cascading of strategic planning to first have units agree on common strategies before they agree on what goals will be set to reach those strategies priorities
Mission statement
HOW THE HR FUNCTION CONTRIBUTES
Provide Knowledge of KSAs needed for strategy implementation
Propose reward system
Communicate knowledge of strategic plan
JOB DESCRIPTION
Task and KSAs are congruent with organization and Unit strategic plans
Activities described support mission and vision of organization and unit.
Need to be congruent with the organization and unit mission, vision, goals and strategies
BUILDING SUPPORT
TOP MANAGEMENT
The performance management system, when aligned with organization and units priorities is a critical tool
Help carry out mission
ALL LEVEL
Participation
Understanding
Involvement
INDIVIDUAL AND TEAM PERFORMANCE
Performance management system which
Motivates employee
align development plan with organization priorities
well-design performance management systems define a clear path from organization mission, vision, and goals to individual and team performance