Question

The role of HRM in formulating is implementing strategies is crucial”. Elaborate.

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Answer 1

Role in Strategy Formulation: HRM is in a unique position to supply competitive intelligence that may be useful in strategy formulation. The challenge is to develop a configuration of HR practice choices that help implement the organization's strategy and enhance its competitiveness. ..

Answer 2

Answer:

HRM is in a unique position to provide competitive intelligence that can help with strategy development. The goal is to create a set of HR practice options that will assist the company implement its plan and improving its competitiveness.

Explanation:

• Scanning the environment is always done before formulating a strategy. Scanning aids in the identification, analysis, and balance of a company's external opportunities and threats, as well as its internal strengths and weaknesses. HR plays a critical role in this situation.

• HR can also provide details about the company's internal strengths and problems. Some businesses even plan their strategy around gaining a competitive advantage through human resources. For example, a company built a staff that was particularly talented and knowledgeable about factory automation during the process of automating its factories. As a result, the company began to offer automation services to other countries.

• The functional strategy of a company should complement its competitive strategies. HRM provides the organization with a capable and willing workforce that is in charge of putting strategies into action. Maruti Udyog and Hindustan Motors, for example, manufacture automobiles using virtually the same technology. Maruti's employees are the key to the company's success.

• HR also assists with plan implementation in other ways. It can assist the company in restructuring and downsizing without offending employees, for example, by outpacing employees, connecting rewards to performance, lowering welfare expenses, and retraining staff. HR can also make systematic efforts to improve employee skill levels so that the company can compete on quality.