In this video, learn about environmental scanning and its impact on strategic decision-making.
- [Educator] Economist Michael Porter once said,…"Strategy is about setting yourself apart…"from the competition.…"It's not a matter of being better at what you do,…"it's a matter of being different at what you do."…This quote explains why companies engage…in a strategic planning process…to determine how they can do what they do differently…than the competition.…The strategic planning process begins…by gathering information about the business environment…and identifying themes.…This is referred to as Environmental Scanning.…
Two commonly used Environmental Scanning techniques…are a SWOT analysis and a PESTLE analysis.…A SWOT Analysis explores the strengths, weaknesses,…opportunities, and threats to the business.…When evaluating a company's strengths,…senior leadership considers…the organization's value proposition…and what the organization does better than its competitors.…When analyzing a company's weaknesses,…the senior leadership team may uncover unethical practices…or other areas to address.…
For example, in the late 1990s,…
- Determine which of the three organizational structures are most often used with different types of project.
- Explain how HR professionals establish trust with employees.
- Define the concept of “managing up.”
- Recognize the key elements of the Uniform Guidelines of Employee Selection Procedures.
- Summarize the four steps of the Kirkpatrick Model.
- Identify the characteristics of an entitlement compensation philosophy.
- Name another term used to describe a benefits needs assessment.
- List two things required for leaders when they provide feedback during a performance review.
Skill Level Advanced
Introduction to the PHR Certification Examwith Joanne Simon-Walters58m 16s Intermediate
1. Exam Topics: Business Management
2. Exam Topics: Talent Planning and Acquisition
3. Exam Topics: Learning and Development
4. Exam Topics: Total Rewards
5. Exam Topics: Employee and Labor Relations
6. Study Plan
Conclusion and Farewell
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