Explain the key stages in strategy formulation and implementation and the role of HR

Running Head: HRM
HRM
Name of the Student
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Author Note

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2.1- Explain the key stages in strategy formulation and implementation and the role of HR
The strategy formulation is the process of selecting the most proper course of action for
realizing organizational goals along with the objectives for achieving the organizational vision.
There process of the strategy formulation has six main steps which are very rational. Two
approaches that can be adopted by HR to strategy formulation: deliberate and emerging
strategies.
A deliberate strategy is a top-down process driven by company’s mission and goals. Richard and
Thompson (1999) commented that a strategy’s success turns on combining vertical (external)
and horizontal (internal) fit. Vertical alignment ensures an alignment between company’s
policies and activities. Horizontal fit is achieved when the different HR strategies, plans and
actions are mutually supporting and harmonious.
Emergent strategies are not as carefully planned and more flexible. They are about learning what
works in practice and changing to meet those needs. This allows companies to adapt to changes.
The steps are:
 Setting the objectives for the organization
 Evaluating the environment of the organization
 Setting the quantitative targets
 Aiming on divisional plans
 The performance analysis
 The selection of strategy
For having and effective and successful strategy implementation, there are certain steps to be
followed:

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 Evaluation and the communication of the strategic plan( there are sub-parts such
as aligning the initiatives with the strategies, aligning the budget with the objectives and
the annual goals, communicating the strategies, objectives and goals to the staffs )
 Development of an implementation structure
 Development of the implementation –support programs and policies
 Budgeting and resources allocation
 Discharging the activities and functions
According to the views of Dave Ulrich, the human resource management is an important
business arm without which any enterprise cam function. The Ulrich model serves as the
benchmark for various HR professionals in their attempt to mobilize their multifaceted roles in
the HR, administrative and business partnership. The model specifically serves to organize the
human resource functions (Noe et al. 2015). As per this model, the functions must be
compartmentalized into four segments such as strategic partner, change agent, administrative
expert and the employee champion. The role of HR is simplified below:
 Ensuring the alignment of the business goals and the HR strategy
 Observing the HR strategy in Action throughout various departments
 Reviewing the goal-setting
 Deciding the requirement of an HR policy
 Establishing the HRM department
2.2 Examine HR’s contribution to business ethics and accountability
The significance of ethics in the workplaces is increasing every day and it is being
acknowledged too. The outcome is that the organizations have identified the need for guarding