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MindMap Gallery Gaining a competitive edge

Gaining a competitive edge

This mind map will explore the various strategies and tactics that can be employed to achieve a competitive advantage. It will delve into the key factors that can help businesses stand out from their competitors. Join us as we navigate through the essential elements of gaining a competitive edge and discover the pathways to success in the competitive business landscape.

Edited at 2022-10-04 08:18:14

Long Tran Bao

Recent works View more works>>

Gaining a competitive edge
This mind map will explore the various strategies and tactics that can be employed to achieve a competitive advantage. It will delve into the key factors that can help businesses stand out from their competitors. Join us as we navigate through the essential elements of gaining a competitive edge and discover the pathways to success in the competitive business landscape.

Gaining a competitive edge

Long Tran Bao

Recent works View more works>>

Gaining a competitive edge
This mind map will explore the various strategies and tactics that can be employed to achieve a competitive advantage. It will delve into the key factors that can help businesses stand out from their competitors. Join us as we navigate through the essential elements of gaining a competitive edge and discover the pathways to success in the competitive business landscape.

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Chapter 1: Gaining A Competitive Edge

INTRODUCTION

Definition

Human resource management (HRM): refers to the policies, practices, and systems that influence employees’ behaviour, attitudes, and performance to accomplish organizational goals

New Opening Vignette: Public's HRM

Determining

Survival

Effectiveness

Competitiveness

Refers to a company’s ability to maintain and gain market share

Helping

Support the strategy

Provide services the customer values.

ROLES OF HRM

Main Responsibilities

Analyse and design of work

Recruitment, interviewing, testing, training and develop employees

Measure employees performance, manage employees compensation and benefits

Employee relations, employee data and information systems

Legal compliance and Personnel policies

Support for business strategy

Roles depends on

Size and value system of the company

Characteristics of the workforce and the industry

3 productlines of Human resource

Administrative services and transactions

Business partner services

Strategic partner role

FUNCTIONS OF HRM

Human resources management department

Primarily an administrative expert and an employee advocates

Challenges of HR

Shifting focus from current operations to strategies for the future

Preparing non-HR managers to develop and implement HR practices.

Developing, attracting, and retaining talented employees and finding employees with the necessary skills .

Breaking down cultural barriers to create a global company

Outsourcing

The pracctice of having another company (a vendor, third party, or consultant) provide services

Reasons

Saving cost

Increased ability to recruit and manage talent

Improved HR service quality

Protection of the company from potential lawsuits by standardizing processes

Self-service

Giving employees online access to, or apps that provide information aboutHR issues

Enrolling online in programs and services

Completing online attitude surveys

Focus more time on consulting with managers on importantemployee issues

Shared service model

Away to organize the HR function that includes centers of expertise orexcellence, service centers, and business partners.

Centers of expertise or excellence

HR specialists in areas such as staffing or training who provide theirservices companywide

Service centers

Acentral place for administrative and transactional tasks

Business partners

HR staff members who work with business- unit managers on strategicissues

Ensure that HRM contributes to the company’s competitive advantage

HRM PRACTICES

DIMENSIONS

Managing the HR environment

Strategic HRM: Linking HRM practices to the company’s business objectives

Ensuring that HRM practices comply with federal, state, and local laws

Designing work that motivates and satisfies employees as well as maximizes customer service, quality, and productivity

Acquiring and preparing HR

Identifying HR requirements

Training employees to have the skills needed for their jobs

Assesment and development of HR

Measuring employees’ performance

Preparing employees for future work roles

Creating an employment relationship and work environment that benefits both the company and the employee

Compensating HR

Creating pay systems

Rewarding employee contributions

Providing employees with benefits

Ensure employees contributing to productivity, quality, and customer service.

Other issues

Labor–management relations

International HRM and managing the HR function

Help companies deal with the competitive challenges

GAINING COMPETITIVE EDGE

Sustainbility

Deal with the workforce and employment implications of the economy

Understand and enhance the value of intangible assets and human capital

Meet the needs of stakeholders, shareholders, customers, employees, andthe community

Emphasise customers, employees, community as well as customer serviceand quality

Recognise and capitalise on the demogrphics and the diversity of theworkforce

Deal with legal and ethical issues

Globalisation

Enterning international market

Offshoring and reshoring

Technology

Consider social networking

Use HRIS, mobile devices, cloud computing, HR dashboards,..

Considering high-performance work systems and virtual teams