OD_Strategy Management._Day 1 2022.pptx

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25 Mar 2022

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OD_Strategy Management._Day 1 2022.pptx

  1. Day One Laurence Yap Strategic Management of HR
  2. The Significance of Strategy Management in your organization
  3. Objectives • Understand the Corporate and HR Strategic Management Process and Components • Review the Past, Current and Brainstorm the Future Strategy Plan • Develop the fundamental of the Department : Vision, Mission, Values and Future Plan • Apply the Balance Scorecard Method to conduct HR Strategic Planning • Establish Communication Methods to inform Your Employees • Review the Strategy by using the traffic light system and Appreciative Inquiry • Apply facilitation skills to manager conversation • Develop the Annual HR Strategic Plan 3
  4. Outline Day One A. Introduction to Strategy Management B. HR Strategy Intent C. HR Strategy Situation Analysis D. HR Strategy Focus 4 Day 2 E. HR Strategy Formulation F. HR Strategy Implementation G. HR Strategy Evaluation H. Drafting Your Annual HR Strategic Plan
  5. Strategy Management Process A. Introduction to Strategy Management A1. Background and Different Ways of Managing Strategies A2. The Full Cycle of Strategy Management B. Strategic Intent B1. Developing Department Fundamental: Vision, Mission, Values B2. Crafting Future Plan C. Strategic Insight: Situation Analysis C1. Review the Past and Current Situation C2. Brainstorm the Future Scenario D. Strategic Focus D1. Link HR Strategies to Corporate Strategies D2. Develop HR Strategies D3 Theme of the Year D4. Four Perspectives 5
  6. E. Strategy Execution F1. Establish Communication Methods to inform Your Employees F2. Formulate Implementation Plan WWW Plan and A3 F3. Change Management: McKInsey7s, John Kotter Management and Performance Consulting F. Strategy Renewal G1 Review Strategy Plan Regularly by using the traffic light system and Appreciative Inquiry G2. Analyse and concluding the Annual HR Strategic Plan Measure, Report and Celebrate G. Drafting Your Annual HR Strategic Plan 6 Strategy Management Process
  7. Know Your Team Name Birthplace Hobbies Drinks Foods Sports Best Place you have ever been Laurence Yap Tawau Traveling Reading Margarita Aglio Olio Swimming New York
  8. Questions 1. What is the definition of Strategies? 2. What are the components in strategic management? 3. In a annual cycle, what strategy activities in the beginning of the year, middle of the year and end of the year? 8
  9. Strategy Planning Successful business Organizations need a comprehensive strategy planning to align the resource, people and energy to achieve business goals
  10. The Pyramid Strategic Management of HR
  11. Focus on HR Strategies HR strategies Align to Corporate Strategies
  12. Benefits Alignment • There needs to be clear alignment between the: Needs of the marketplace Organizational strategy Organization system and structural design Other key human resource processes Choice and Prioritization. • There are always more good things to do than resources to do them. Organization development work includes helping the organization understand its priorities and what choices follow from those priorities. Clear Vision/Aspiration. • Since seeing the past is easier than seeking anidealfuture,organizations tendtofixateonwhathas been, rather than on what can be. Organization development work includes helping the organization envision the ideal and the steps necessary to get there. 12
  13. A. Introduction A1. Background and Different Ways of Managing Strategies A2. The Full Cycle of Strategy Management 13
  15. Strategic Management Process 16
  16. Strategy Management Process Strategic Intent Develop Fundamental Create the Future Strategic Insight: Situation Analysis Review the Past and Current Situation Brainstorm the Future Scenario Strategic Focus Link HR Strategies to Corporate Strategies Develop HR Strategies Theme of the Year Four Perspectives 17
  17. Strategy Alignment Establish Communication Methods to inform Your Employees Team Leaders align to Departmental Strategies Strategy Execution Formulate Implementation Plan WWW Plan and A3 Manage Change: McKInsey7s, John Kotter Management Coaching and Mentoring: One on one Meeting Strategy Evaluation Review Strategy Plan Regularly by using the traffic light system and Appreciative Inquiry Analyse and concluding the Annual HR Strategic Plan Measure, Report and Celebrate 18 Strategy Management Process
  18. Stages of Strategy Management Strategic Insight, Intent, Focus Strategy Formulation Strategy Alignment Strategy Evaluation 1-19 Copyright ©2013 Pearson Education, Inc. publishing as Prentice Hall
  19. Strategy Management Process 20 December Strategy Intent Strategy Situation Analysis Strategy Formulation January Strategy Communication Strategy Alignment Jan-Dec Strategy Execution April, July, October, December Strategy Review Town Hall Meeting
  20. Full Year Cycle – Option 2 21 • July • Strategy Evaluation • September • Strategy Evaluation • Strategy Review and Strategy Formulation • December • Strategy Review • Strategy Formulatio • Strategy Evaluation Q4 Q1 Q2 Q3
  21. Examples
  22. B. Strategic Intent B1. Develop Fundamental: Vision, Mission, Values B2. Crafting Future Plan 23
  23. B1. Develop Fundamental • Vision • Mission • Values 25
  24. Vision, Mission and Values • Vision Statement. A vision statement describes the organization as it would appear in a future successful state. • If the organization were to achieve all of its strategic goals, what would it look like 10 years from now? It creates a mental image of the future state that the organization wishes to achieve. A vision statement should challenge and inspire employees. • Mission Statement. A mission statement explains the company’s reason for existence. • The mission statement supports the vision and serves to communicate purpose and direction to employees, customers, vendors and other stakeholders. • Values. A values statement describes what the organization believes in and how it will behave. Values create a compass for the company and its employees. A values statement defines the deeply held beliefs and principles of the organizational culture. 26
  25. HR Vision & Mission 27 To attract the right talents, enhance people capabilities and employee engagement to cultivate performance driven culture. To Be A Credible Strategic Business Partner Driving People Initiative to Achieve Organization Goals.
  26. HR Core Values Definition for each Core Value # In the Urban dictionary, CRIPT means super cool or awesome We are committed to knowing our customers’ business, anticipating their needs and managing their expectation. C Customer Focus R Resourceful We pursue ideas with vigor and persist in finding solution. I Innovative We are open to possibilities and foster creativity to support continuous improvement . P Passion We show pride, enthusiasm and dedication in making a difference for the betterment of the organization. T Trustworthy We commit to provide HR services with fairness, integrity and respect. 28
  27. Vision ▰ To be an organization which primarily nurtures and carries on profitable and sustainable businesses in line with the Group’s diverse business development and value creation aspirations and interests of all its stakeholders. ▰ Secondly, the organization is to also be maximized the value of human capital through empowerment, growth and a commitment to excellence. 29
  28. Mission The mission of the organization is strived to generate profitable returns for our shareholders from investments in core business activities: ▰ • By providing direction, financial resources and management support for each operating unit ▰ • Through dynamic and innovative management, teamwork and a commitment to excellence ▰ • By providing a cross-functional environment and development and upskilling opportunities for our employees to develop their full potential for both personal and professional advancements 30
  29. How to Create a Vision Statement A vision statement describes what you want your company to become in the future. Keep the following in mind as you create your vision statement: • Inspire. It should be aspirational and inspirational. • Not a How To. Ideally, the statement should be one sentence in length and should not explain how the vision will be met. • Ask Yourself. When developing your vision, keep these questions in mind: What is unique about doing business with your brand? How would your customers describe your brand Where do you want your company to be in five years? 31
  30. How to Create a Mission Statement • A mission statement defines the purpose of the company. Keep the following in mind as you create your vision statement: • Ask Yourself. When crafting your mission statement, keep these tips in mind: – What are the specific market needs the company exists to address? – What does the company do to address these needs? • Purpose. Basically, the mission statement describes the overall purpose of the organization. • Wording. When wording the mission statement, consider the organization's products, services, markets, values, and concern for public image, and maybe priorities of activities for survival. • Does it Make You Unique. Does the mission statement include sufficient description that the statement clearly separates the mission of the organization from other organizations? 32
  31. Developing Values Core values are what support the vision, shape the culture and reflect what the company values. They are the essence of the company’s identity – the principles, beliefs or philosophy of values. • They Help Decisions. Core values help companies in the decision- making processes. • They Set Your Identity in the Market. Core values educate clients and potential customers about what the company is about and clarify the identity of the company. • They Set You Apart with Talent. Core values are becoming primary recruiting and retention tools. • They are Timeless. Core values are timeless and do not change; they are sustainable in the longer term. They don't change in an economic downturn or in a change of strategy or with a new set of products. 33
  32. How • So how do you discover core values? Here are some questions that can help: • Are the core values that you hold to be fundamental regardless of whether or not they are awarded? • If you woke up tomorrow morning with enough money to retire for the rest of your life, would you continue to hold on to these core values? • Can you envision these values being as valid 100 years from now as they are today? • Would you want the organization to continue to hold these values, even if at some point, they became a competitive disadvantage? • If you were to start a new organization tomorrow in a different line of work, would you build the core values into the new organization regardless of its activities? 34
  33. Balance Scorecard Perspective Objectives Measurement Target Initiative Budget Financial Customer and Stakeholders Internal Process Organization Capability Strategy Maps & the Balanced Scorecard 35
  34. Visioning
  35. B2. Create the Future: Aspiration & Vision • Create your future • 1, 3 and 5 year plan • Collective Inputs • Review Yearly during offsite meeting 37
  36. Aspirations and Vision Where do we go in the future in year one, year three and year five? Current 2019 2021 2023 Aspirations End in Mind
  37. Process: Write, Post and Share (Flipchart and Post-IT) Finance Customer/ Stakeholders Process Capability Year 1 Year 3 Year 5
  38. Visualization 40 Strategic Perspectives Areas 1. Financial Profit Cost Reduction Training Income Productivity 2. Customer/Stakeholders Business Units Employees Vendors 3. Process Recruitment Training and Development Performance Management Employee Relations PayRoll Compensation and Benefits CSR 4. Capability Learning and Development IT System Leadership Development Continuos Improvement Projects Expert Knowledge
  39. C. Strategic Insight: Situation Analysis C1. Find Your Own Realities C2. External Environment C3. Pulling All Together: Strategic Choices 41
  40. C1. . Review Our Own Realities Strategic Insights: PEST SWOT SOAR 42
  41. SWOT Analysis 43
  42. SWOT 44
  43. SWOT A framework that allows managers to synthesize insights obtained from an internal analysis of the company’s strengths and weaknesses with those from an analysis of external opportunities and threats. Benefits Simple to do and practical to use; Clear to understand; Focuses on the key internal and external factors affecting the company; Helps to identify future goals; Initiates further analysis 45
  44. Perform the Analysis SWOT can be done by one person or a group of members that are directly responsible for the situation assessment in the company. Basic swot analysis is done fairly easily and comprises of only few steps: Step 1. Listing the firm’s key strengths and weaknesses Step 2. Identifying opportunities and threats Step 3. Prioritize the items 46
  45. Tips List between 5-10 items for each category. Prevents creating too short or endless lists. Items must be clearly defined and as specific as possible. For example, firm’s strength is: brand image (vague); strong brand image (more precise); brand image valued at $10 billion, which is the most valued brand in the market (very good). Rely on facts not opinions. Find some external information or involve someone who could provide an unbiased opinion 47
  46. Strengths When you’re looking at your HR’s strengths, you’ll consider • How well your hiring strategy fits your branding, • If your compensation and benefit packages are well received, • How low your turnover rates are, • Whether leadership is supporting HR’s hiring and employee engagement activities, • Your HR staff’s knowledge and experience, and • Anything else you think is a strength. 48
  47. Weaknesses When you’re looking at your weaknesses, consider • Whether your company has a bad reputation in the job market, • Any budget constraints, • Whether your employees have low morale, • If you have high turnover rates, • If you lack training and/or onboarding resources, and • Anything else you consider a weakness. Remember, when you’re looking at your company’s weaknesses, don’t just compare yourself to other companies. You have your own standards, so make sure your HR practices are held up to those standards 49
  48. Opportunities When you’re looking at potential opportunities for your company’s HR department, consider • Any new technology available, • Beneficial changes in federal, state, and local employment laws, • The possibility of workforce growth due to company growth, • The possibility of higher wages due to company growth (making you a more appealing company to work for), community growth (allowing you to have a larger talent pool to choose from). 50
  49. Threats • You need to consider the threats to your company so you can have action plans in place and be prepared. When looking into threats, consider • Stricter federal, state, and local employment laws, • Whether any other companies in the area are hiring for similar positions and skills, and • Any market reduction that could lead to layoffs in the company. 51
  50. Then What? Use what you learned to select few crucial issues to create an action plan. • Figure out how you can use your strengths to take advantage of opportunities. • Create contingency plans in case any of your threats become a reality. • Figure out how to improve on your weaknesses to turn them into strengths. 52
  51. SOAR 53
  52. SOAR • SOAR stands for Strengths, Opportunities, Aspirations and Results. • A strengths, opportunities, aspirations, results (SOAR) analysis is a strategic planning tool that focuses an organization on its current strengths and vision of the future for developing its strategic goals. • This tool differs from the commonly used SWOT (strengths, weaknesses, opportunities, and threats) analysis. SOAR engages all levels and functional areas of an organization, while SWOT is typically a top-down approach. With SOAR, the focus is on the organization and enhancing what is currently done well, rather than concentrating on perceived threats and/or weaknesses. 54
  53. 4 Questions When conducting a SOAR analysis, the basic questions to be answered are: • S = Strengths: What an organization is doing really well, including its assets, capabilities, and greatest accomplishments. • What are our greatest strengths? • O= Opportunities: External circumstances that could improve profits, unmet customer needs, threats or weakness reframed into possibilities. • What are our best opportunities? • A= Aspirations: What the organization can be; what the organization desires to be known for. • What is our preferred future? • R=Results: The tangible, measurable items that will indicate when the goals and aspirations have been achieved. • What are the measurable results that will tell us we’ve achieved that vision of the future? 55
  54. Benefits • Engages representatives from every level of the organization to have shared conversations and input on strategy and strategic planning. Resistance to change is minimized and employees are more likely to commit to goals and objectives they helped create. • Flexible and scalable, so planning and decision making can be adjusted to fit an organization’s needs and culture. • Building on the organization’s strengths produces greater results than spending time trying to correct weaknesses. 56
  55. PEST 57
  56. PEST • A PEST analysis is a strategic business tool used by organizations to discover, evaluate, organize, and track macro-economic factors which can impact on their business now and in the future. The framework examines opportunities and threats due to Political, Economic, Social, and Technological forces. Outputs from the analysis inform strategic planning processes and contribute to market research. 58
  57. Benefits • Helps to evaluate how your strategy fits into the broader environment and encourages strategic thinking • Provides an overview of all the crucial external influences on the organization • Supports more decisive and knowledgeable decision making • Assists planning, marketing, organizational change initiatives, business and product development, project management, and research papers 59
  58. Steps It's also important to think about how these changes could undermine your business. If you understand this early enough, you may be able to avoid these problems, or minimize their impact. • Step 1: Brainstorm Factors • Step 2: Brainstorm Opportunities • Step 3: Brainstorm Threats • Step 4: Take Action 60
  59. Political Factors to Consider • When is the country's next local, state, or national election? How could this change government or regional policy? • Who are the most likely contenders for power? What are their views on business policy, and on other policies that affect your organization? • Depending on the country, how well developed are property rights and the rule of law, and how widespread are corruption and organized crime? How are these situations likely to change, and how is this likely to affect you? • How will business regulation, along with any planned changes to it, affect your business? And is there a trend towards regulation or deregulation? • Are there any other political factors that are likely to change? 61
  60. Economic Factors to Consider • How stable is the current economy? Is it growing, stagnating, or declining? • Are key exchange rates stable, or do they tend to vary significantly? • Are customers' levels of disposable income rising or falling? How is this likely to change in the next few years? • What is the unemployment rate? Will it be easy to build a skilled workforce? Or will it be expensive to hire skilled labor? • Do consumers and businesses have easy access to credit? If not, how will this affect your organization? • How is globalization affecting the economic environment? • Are there any other economic factors that you should consider? 62
  61. Socio-Cultural Factors to Consider • What is the population's growth rate and age profile? How is this likely to change? • Are generational shifts in attitude likely to affect what you're doing? • What are your society's levels of health, education, and social mobility? How are these changing, and what impact does this have? • What employment patterns, job market trends, and attitudes toward work can you observe? Are these different for different age groups? • What social attitudes and social taboos could affect your business? Have there been recent socio-cultural changes that might affect this? 63
  62. Technological Factors to Consider • Are there any new technologies that you could be using? • Are there any new technologies on the horizon that could radically affect your work or your industry? • Do any of your competitors have access to new technologies that could redefine their products? • In which areas do governments and educational institutions focus their research? Is there anything you can do to take advantage of this? • How have infrastructure changes affected work patterns (for example, levels of remote working)? • Are there existing technological hubs that you could work with or learn from? • Are there any other technological factors that you should consider? 64
  63. Analysis 65
  64. Relations to SWOT 66
  65. B2C: Linking to Corporate Strategic Plan (Excel Form: No 3) 67 Object ive Measurement Target Initiative Goals Human Resource Finance Volume of Sales Per Year 400 Mil Ritz Carlton RM 400M Custom er Segment of customers Approach customers live in KL >RM 1 Mil Per year Social Media at Tatler Malaysia Embassy Party Facebook 4 Ads in 5 months 5 Parties 30 Postings Process Loan Approval Loan Approval less than one month MayBank Citibank 2 Banks – 15 days approval Capabili ty Learning NLP Sales Social Media Trg Sales Trg Sales Leader Trg 100% Sales 100% Sales leader Corporate Strategies
  66. Pulling Together • List Opportunities 68
  67. Effort Impact Matrix 69
  68. Matrix • An impact effort matrix is a decision-making tool that assists people to manage their time more efficiently. An organization, team, or individual assesses activities based on the level of effort required and the potential impact or benefits they will have. • The result is a visual representation of where best to assign time and resources. Activities fall into one of four categories: • Quick wins – Give the best return based on the effort. • Major projects – Provide long term returns but may be more complex to execute. • Fill ins – Don’t require a lot of effort but neither do they offer many benefits. • Time wasters – Time-consuming activities with low impact that should be avoided. 70
  69. Why? • Rapidly identifies what activities you should focus on, along with the ones you should ignore. • Helps optimize limited time and resources. • Provides time to reflect on a range of strategies and find the most efficient path to achieve goals and reduce wasted time and effort 71
  70. D. Strategic Focus D1. Theme of the Year D2. Four Perspectives 72
  71. Example of Strategic Focus 73 No Measurement Target Champion 1 1.1 Increase Revenues RM 85 Million Paul Thomas 1.2 Increase Sales RM 85 Million Ali Hussin 1.3 Reduce COGS 5.00% Michelle 1.4 Reduces Overhead 10% Ali Husin 1.5 Variation Order 5% Paul Thomas 2 Customer: Business Expansion 2.1 Government Initiatives 1 Bumiputra partners for JV and Tender 5 Gov Projects Rajah Gopah 2.2 Diversity of Business Enter 1 New Market Osman Saiful 2.3 Secure New Clients Secure 5 New Clients Heng Ming 2.4 Retention of Existing Clients 5 Current Clients Heng Ming 2.5 Secure Tenders Average 9.5M per project Osman Saiful 3 Process: Efficient Business Process 3.1 Material Tracking Streamline Material Tracking Process Kent Oh 3.2 Labour Tracking Review and Improve Labor (40%) Mary Kuan 3.3 ISO 9001 Certification Obtain ISO 9001:2015 Paul Thomas 3.4 Process Improvement Review 40 business processes annually Joe Lee 4 People: Continuous Improvement 4.1 Employee Satisfaction Survey 75% score TH Lee 4.2 Critical Organization Learning: Oil and Gas, Hospital and Highway Rating 7 out of 10 TH Lee Finance: Improve Profitability XXX Company Theme of the Year: Expand Customer Base
  72. Strategic Focus Theme of the Year 74
  73. B2D. New Projects and Initiatives of HR 1. Coaching culture 2. HR Strategic Planning 3. Buzz 4. EVP 5. e-Staff 6. Flexi Benefits 7. Recruitment & Selection portal 8. Internal public program 9. Incorporate Toastmasters in B.EDP & B.MDP program. 75
  74. B2E. Major Routine Works 1. Payroll 2. Performance ScoreCard 3. Disciplinary actions 4. Recruitment 5. Berjaya leadership school (B.ALP, B.MDP & B.EDP) 6. Career Fairs 76
  75. E. Strategy Formulation E1. Link HR Strategies to Corporate Strategies E2. Develop HR Strategies 77
  76. Balanced Scorecard • BSC is a strategy management framework. • Objectives are high-level organizational goals. • Measures help you understand if you’re accomplishing your objectives strategically. • Initiatives are key action programs developed to achieve your objectives. • Target The results of the action programs 78
  77. BSC 79
  78. Comparison 80 • Balanced Scorecards for human resources (HR) have a lot in common with enterprise-level Balanced Scorecards, but they also have a lot of differences. • WHAT DO THEY HAVE IN COMMON? • They both have objectives, measures, initiatives, and action items. • They both often use strategy maps. • They both have the four perspectives: financial, customer, internal, and learning & growth. • They are used to describe a specific strategy and execute it.
  79. Comparison: Differences • An HR scorecard usually put customers first while for-profit, organization-wide scorecards traditionally place the financial perspective at the top of the strategy map • HR “Customers” are typically internal to the business. HR customers are both (A) business partners or business units within the organization and (B) employees of the organization • The internal perspective themes in an HR scorecard are unique from traditional scorecards. in a traditional scorecard, business processes are often divided into three areas: innovation, customer intimacy, and operational excellence. But a Balanced Scorecard in HR is more likely to have an internal perspective that revolves around key strategic areas in which the department operates—like recruiting and retaining talent or building a high-performance culture. 81
  80. Link Between Business Strategy and HR 82
  81. Link Between Business Driver and HR 83
  82. Linking Corp Strategies to HR 84 NoObjectives Target Initiatives Target Recruitment Training Performance 1 Finance: Improve Profitability 1.1 Increase Revenues RM 105 Million 1.1.1 Achieve Time line budget RM 105 Million 1.1.2 Tracks Gross Profit of VO Gross Profit 20% of VO based on claims 1.1.3 Cert timely received Target 90% cert received on time 1.1.4 Monthly Claim Target 10.5 Mil Per Month 1.2 Increase Sales RM 90 Million 1.2.1 Provides "A" Leads of Potential Projects RM 500 Million Competency- base Interview Networking, Marketing One on One Meeting 1.2.2 Prepares and Submit Tenders RM 300 Million Tender 1.2.3 Secure Sales RM 70 Million 1.3 Control COGS 80.00% 1.3.1 Manages Material Control - Major Equipment Project Budgetary, Procurement List 1.3.2 Monitors Delivery Order 95% Delivery as per order/Monthly Review
  83. Exercise: Balanced Scorecard 85 Theme of the Year HR Strategic Plan 2019 Objectives Measurement Target Initiative Champion Team Finance: F1. Cost Medical Cost 10% saving Great Eastern Michelle Lee John, Ali, Mary F2. Saving Electricity and Aircon 5% TNB Nicholas Chai Hong Chee, Chris F3. Earning Training Income RM25,000 Berjaya Learning Mariah Kassim Ramesh, Johan 2. Customers C1. Business Units C2.Employees C3 Vendors 3. Internal Process I1. Recruitment I2. Training and Development I3. Performance Management I4. Employee Relations 12 I6. Compensation and Benefits I7. CSR 4. Organization Capability O1. Learning and Development O2. Leadership Development O3. HR Technology O4. Expert Knowledge
  84. Exercise: Incorporate Insights 86 Theme of the Year HR Strategic Plan 2019 Objectives Measurement Target Initiative Champion Team Finance: 2. Customers 3. Internal Process 4. Organization Capability
  85. Steps • The next step to building a strategy map is to • begin identifying the most critical objectives in • each perspective. • Building a strategy map is a team effort that requires real time and discussion, especially at the highest levels of leadership. 87
  86. Assign roles and responsibilities 1. Senior Leadership Team  Reaches consensus on final strategic plan  Strategizes deployment and implementation methods  Chooses what gets published 2. Group Goals  Complete development of strategies and objectives  Share draft plan with mid-level managers  Accept and incorporate appropriate feedback from mid-level managers  Brief senior leadership team on changes 88
  87. Assign roles and responsibilities 3. Mid Level Managers  Share draft plan with employees  Provide feedback to senior leadership team during facilitated feedback sessions 4. Facilitator  Assists the goal groups in their independent work by facilitating their strategy and objective development meetings  Assists the senior leadership team by being the central point of contact for the strategic planning effort  Handles the logistics associated with senior leadership team meetings 5. Finance Plans ways to incorporate strategic plan resource requirements into the budgeting process 89
  88. Exercise: Balanced Scorecard 90 Theme of the Year HR Strategic Plan 2019 Objectives Measurement Target Initiative Champion Team Finance: F1. Cost Medical Cost 10% saving Great Eastern Michelle Lee John, Ali, Mary F2. Saving Electricity and Aircon 5% TNB Nicholas Chai Hong Chee, Chris F3. Earning Training Income RM25,000 Berjaya Learning Mariah Kassim Ramesh, Johan 2. Customers C1. Business Units C2.Employees C3 Vendors 3. Internal Process I1. Recruitment I2. Training and Development I3. Performance Management I4. Employee Relations 12 I6. Compensation and Benefits I7. CSR 4. Organization Capability O1. Learning and Development O2. Leadership Development O3. HR Technology O4. Expert Knowledge
  89. Quarterly Review 91 HR Strategic Plan 2019 Objectives Measurement Target Initiative Q1 Q2 Q3 Q4 Finance: Plan Actual Plan Actual Plan Actual Plan Actual F1. Cost Medical Cost 10% saving Great Eastern 10% 10% 10% 10% F2. Saving Electricity and Aircon 5% TNB 5% 5% 5% 5% F3. Earning Training Income RM25,000 Berjaya Learning RM5,0 00 RM5, 000 #### ## RM5,0 00 2. Customers Plan Actual Plan Actual Plan Actual Plan Actual C1. Business Units C2.Employees C3 Vendors
  90. Strategy Mapping • A Strategy Map is a visual way of representing what the organisation is trying to achieve at a high level. • Strategy maps provide a visual framework for describing and managing corporate strategy so it can be shared, executed and measured beyond the executive level. Robert S. Kaplan, a professor at Harvard Business School, and David P. Norton, president of the Balanced Scorecard Collaborative Inc., introduced the concept in their book "The Strategy-Focused Organization." They conceived of strategy maps as a way to create strategy- driven performance management organizations. Strategy maps consider four qualitative and quantitative perspectives: financial, customer, internal business process and learning and growth. 92
  91. Strategy Map 93
  92. Strategy Map 94
  93. Summary A. Introduction to Strategy Management A1. Background and Different Ways of Managing Strategies A2. The Full Cycle of Strategy Management B. Strategic Intent B1. Developing Department Fundamental: Vision, Mission, Values B2. Crafting Future Plan C. Strategic Insight: Situation Analysis C1. Review the Past and Current Situation C2. Brainstorm the Future Scenario D. Strategic Focus D1. Link HR Strategies to Corporate Strategies D2. Develop HR Strategies D3 Theme of the Year D4. Four Perspectives 95