Compare And Contrast The Pestle Model And Porter's Five Forces Model
You should refer to the role of HR in each of the stages summarised. You should also highlight HR’s contribution to business ethics and accountability in the above process. You should reference all key models and literature used.
It is difficult to reach your goals without a plan. All forward-looking organisations need to form and implement a strategic plan. A strategic plan considers all the things that the organisation could achieve and narrows it down to what it can be successful and profitable at. It also enables business leaders to determine how to allocate time, human and financial resources.
Strategy formulation and implementation can be broken down into five stages:
The first stage is an analytical one where leaders need to determine where the organisation is at a point in time. They need to take an objective view of the organisation’s position and critically assess its current strengths, weaknesses, threats, and existing opportunities. This stage revolves around research and the gathering of information. HR can contribute to this process by using analytical tools to determine the current position. They can carry out SWOT and PESTLE analysis to establish internal strengths and weaknesses as well as to determine external opportunities and threats. Corporate objectives as well as the mission statement of the business must be clear at this stage. This will ensure that ethical measures are adhered to when collecting required