But our dilemma is really:
A BSTRACT A demonstration of Investigation of existing strategysimilarly development of new strategy expressing strategic change and change process with creative and innovative human resource Plan and Management, besides that how it works with organisational structure and culture for to achieve the organisational goals, moreover measures the effectiveness of human resource management followed with justified recommendations.
K market in and takeover the Abbey National Bank plc, similarly transformed the entire management systems and structure for the better profitability as well as broaden its brands of value for money products.
The formulation of the strategy depend the background of the organisational strategic change and issues behind the strategic change.
However the stakeholders even have a role and participation in system planning development. The creative and innovative way of management of precious human resource asset and strategic management of Human Resources reduces the distance to organisational objectives. Obviously the dynamic change depends and demands the robust human capital with fullyengaged and responsive, mean while assertively developed and deployed.
A well defined and executed H. Development Plan contributes to develop and sustain a sprightly and flexible collaborative organization.
Certainly it refers to where is the organization trying to get in future, which market to compete and what kind of activities to involve in and focused market, besides that how the performance can made better than the other competitors and what skills, assets, finance, relationships, technical competence and facilities required to compete and what external environmental factors affect to compete and what are the values and expectations of it have power in and around the business.
So the strategy works at different levels of the organization not only of overall business or groups but also the individuals working on it. After that the Operational Strategy concerned with how can organize each and every part of the business based on the corporate and business level directions with focus on the issues of resources, processes and human resource.
Strategic Management refers the broad sense of strategic decisions and it has components of Strategy Analysis, Strategic Choice and Strategy Implementation. Strategy analysis focused to analyze the strengths of business position and examining the main external factors that may cause to influence the organization and it can done various tools as follows.
Certainly the changes sinceSantander bank reached the position of largest bank in Euro Zone with a market presence of 10 Crore in Europe and North and South America, besides that the position of Fourth largest bank in the World by profit basis in K and made Acquisitions, agreements and finally made rebranding.
K based Abbey National Bank formerly begins with Building societies Act and incorporated insince acquisition by Santander Bank it has come over through transformation of changes. Acquisition by Santander Bank Ltd3. Mean while it consists of not only resources but also performance in external environments.
It specify the vision, mission and objectives, besides that developing policies and plans in terms of the projects and programs those developed to achieve the objectives and follows the allocation of resources for implement the policies, projects, plans and programs.
The strategic performance measure of Balanced score card method is used to access the overall performance of the organisation and its progress to objectives.
Norton The strategic choice depend various circumstances and it based on under limited growth, substantive growth and retrenchment, besides that there is other methods of growth in building up new business from scratch and develop, acquire existing businessmerger or joint venture.
The new opportunities of growth and value creation depends the selection of alternate approach of strategic model. The growth depend the selection of path, for instance; The heavy investment in product development leads to new and best offerings.
Development of deep consumer insights to offer customers new and better ways to satisfy needs of customers. New strategy formulation to grow by acquisition and extended markets.
Those are, translate the strategy into operational terms, align the organization in to the strategy, make strategy everyones everyday job, make strategy a continual process and mobilize change through strong effective leadership.
Norton, The Balanced Score card known as the integrated system of managing strategies and it connected the long term objectives of the organisation with short term actions, besides that connected with senior management with frontline employees and organizational vision with organisational activities.
This disciplined frame work leads to different components of the strategic planning as well as management.
There is a visible contact with the projects and programs and the measurement can used to track success of that the organization trying to attain, besides that the vision, mission and strategy of the Organization.
It should be informed throughout the period of design and implementation, moreover the support from the management is vital for any type of operational change, besides that the information should be available easily and testing out options is time consuming process especially if it has to be built and tested.
The strategic issues occurred in different areas of the strategic plan and ongoing implementation, just as: The unclear priorities between the competing initiatives cause to loss focus and resources. If the assessment of the impact of external changes on existing plan not measures correctly it result in it back end expenses.
The wrong strategic alignment between units caused in duplication of effort. If not deciding all projects important to attain objectives cause in waste of time.
Chance to allocate resources on projects for the reason why ever changing priority, and it cause lost of energy, time and money. The wrong interpretation of key words results in inefficiency in management and miscommunication.
(Strategic Change In Organizations – Creative & Innovation-Strategic – HRM) CONCLUSION To recapitulate, “there is no change for changes”, since the knowledge starts sparks and move to optimization of every status of universal dealings, especially the challenging changes emerging in globally for the organizations, it is vital to change. Managing Innovative Strategic HRM: The Balanced Score Card Performance management system at ITC Hotels there are two strategic roles: strategic partner and change agent; and. Strategic human resource management is a link that connects strategic goals of an organization with its human resources in order to promote the culture of innovation, and flexibility in the organization.
If failure to address the prioritize projects of IT and Marketing. If not establish clear priorities, what is important and what gets done. Inability to keep focus on what really dealt with.The primary principle of SHRM is to improve business performance and uphold a culture that inspires innovation and works unremittingly to gain a competitive advantage.
There are organizations, like the American College of The Role of Strategic Human Resource Management in Strategic Change. The primary goal of change management is to. The Impact of Strategic Human Resource Management on Organizational Performance Luftim CANIA1 How much organizations appear competitive in the market through achieving the Strategic HRM has a clear focus on implementing strategic change .
The role of HRM in innovation processes Nurturing or constraining creativity Master thesis in Strategic Human Resource Management and Labour R elations. Strategic human resource management is a link that connects strategic goals of an organization with its human resources in order to promote the culture of innovation, and flexibility in the organization.
Innovative Strategic Human Resource Management Adoption in Indian Organizations: Indian Economy, after decades of confinement, has experienced a revolutionary change. Innovation springs from the minds of creative individuals working in an environment that spawns and encourages innovation.
HR leaders need to understand the critical importance of innovation today and how to contribute to your organization’s Innovation mandate by attracting and keeping the most innovative people, constantly improving .