From the course: Certification Prep: SHRM-CP

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HR strategic planning: Formulation

HR strategic planning: Formulation

From the course: Certification Prep: SHRM-CP

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HR strategic planning: Formulation

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- Strategy without process is little more than a wish list. That quote from Robert Filek captures the essence of HR strategic planning. Strategic planning takes place in four stages, and in this video, we're going to talk about the first stage, formulation. Formulation is when the organization determines its current state and its potential market opportunities and constraints. And formulation takes place in three phases. The first is information gathering. When you're gathering information, you need to have a broad perspective and recognize that organizations are complex systems. Systems thinking is viewing systems from a broad perspective. It includes seeing overall structures and patterns and cycles and systems rather than seeing only specific events in the system, and systems are dynamic. For example, if the sales team is asked to generate revenue from new sources, it will change the way they market the company's products. So they'll create new collateral and product pitches. Let's…

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