Strategic Management
4th Edition
ISBN: 9781259927621
Author: Frank T. Rothaermel The Nancy and Russell McDonough Chair; Professor of Strategy and Sloan Industry Studies Fellow
Publisher: McGraw-Hill Education
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Textbook Question
Chapter 4, Problem 2ESI
The chapter mentions that one type of resource flow is the loss of key personnel who move to another firm. Assume that the human resources department of your firm has started running ads and billboards for open positions near the office of your top competitor. Your firm is also running Google ads on a keyword search for this same competitor. Is there anything unethical about this activity? Would your view change if this key competitor had just announced a major layoff?
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a. Choose a company you are familiar with and do a resource gap analysis of the current product / service performance of the company
b.Suggest ways of allocating resources to meet the short term and long term demands of that company in other to meet goals, objectives and targets.
You are Rahul, who was recently made in charge of product delivery at Huge Bazar. On one of your assignments, your team failed to deliver on time. You are reflecting on what could be the different reasons for the failure.You would:
Note: Make sure you select all of the correct options—there may be more than one!
Listen to others and gain insights on why the team failed
Give feedback to others on their failure
Do resource evaluation to find what prevented timely delivery of product
Evaluate yourself on what you could have done better to ensure timely delivery
How can organizations ensure that their staffing strategy aligns with their overall business objectives, and what metrics should be used to measure the effectiveness of this strategy?
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- Performance management is a systematic process aimed at improving organizational effectiveness by aligning individual and team performance with strategic goals and objectives. It involves setting clear performance expectations, monitoring progress, providing feedback, and rewarding achievement. Effective performance management encompasses several key components, including goal setting, performance evaluation, development planning, and performance-related rewards and recognition. By establishing measurable objectives and regularly assessing performance against these benchmarks, organizations can identify areas for improvement, address skill gaps, and optimize resource allocation. Moreover, performance management facilitates employee development and career progression, fostering a culture of continuous learning and professional growth. Additionally, linking performance to rewards and recognition reinforces desired behaviors and motivates employees to excel in their roles Ultimately, a…arrow_forwardFranklin Fincowsky states that "how managers manage their workforce may be the single most important factor in sustaining competitive advantage." Based on this statement, how can the workforce provide a competitive advantage for the company? Justify your answer.you should:Define in your own words the strategic role of human resource management.Answer the following: Is the competitive advantage that can be achieved with the labor force something permanent? Yes or no? Why?arrow_forwardYou are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. What type of long-range planning should be considered?arrow_forward
- You are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. What criteria will you use to determine the best plan of action?arrow_forwardYou are the laboratory manager of a medium-sized 120-bed hospital and are called to a hospital leadership meeting by the CEO of the facility. You are told that the hospital is having problems meeting some debt responsibility and there is a possibility that budgetary cutbacks will be needed to alleviate the situation. Each departmental manager is being given one week to plan how to accomplish a cost reduction of 10% within his/her department, should it become necessary. You are also told that this situation is highly confidential because it is not yet known whether the cost reduction will be needed. Identify the steps in developing short-term goals to address the potential reduction in resources described above.arrow_forwardPlease help i need the solutionarrow_forward
- Should the goal is to reduce the number of IT support staff available to students and teachers, then the installation of mobile device management software should have this as one of its primary goals. Is it more beneficial to invest in new services and provide superior care to existing customers, or is it more beneficial to concentrate on improving operational efficacy?arrow_forwardwhy is the statement true??? 1) Epic electronics international is a rapidly growing firm specializing in the production of sophisticated robots. One of the major problems Epic electronics is likely to face is a shortage of qualified workersarrow_forwardLook for an organization that has Enterprise Resource Planning system and state how it impact or benefit the entire business process. In terms of : HUMAN RESOURCE, ACCOUNTING, MARKETING, AND SUPPLY CHAIN.arrow_forward
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