In this video, review the use of Porter's Five Forces in the strategic planning process.
- When it comes to competition in business,…I say bring it on.…Competition forces companies to think creatively…and introduce products and services…that customers may not even know they need.…Can you imagine living without your iPhone or Android?…Yet it was only a decade ago, in 2007,…that these devices were first introduced.…As an HR pro, you should support senior leadership's desire…to outpace the competition.…You can do this by establishing policies.…
In particular, you want to promote an environment…where employees can freely share…and implement entrepreneurial ideas…that financially benefit the organization.…To do so, it's important for HR pros…to understand the business environment…from the standpoint of competition.…A tool used to analyze competition in business…is Porter's Five Forces Framework.…The framework was developed by Michael Porter…of Harvard University.…He suggested that there are five forces…that determine competitive intensity.…
They are threat of entrants, threat of substitution,…bargaining power of buyers, bargaining power of suppliers,…
- 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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