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The module begins with an overview of the various internal and external environmental contexts which shape organisational actions (PEST forces). You will be involved in reviewing competing ideas about the role and function of management and their implications for your practice. Next, you will be involved in identifying the links between strategic HRM and organisational strategy, followed by reviewing strategic management models. The module then examines the concept of strategic HRM, the variety of ways strategic HR decisions are made within different organisations, the implications for the HR function and critically evaluates the different approaches to aligning organisational strategy with people management practices. In doing so, the module provides you with an opportunity to gain a critical understanding of strategic HR and the implications for your practice as well as your organisation’s. Distinctions are drawn between the different levels of HR strategy and the diverse directions of growth and international strategic choice in a globally competitive environment. The potential ethical issues arising from strategic choices to internationalise the organisation are also considered.

The impact of the increasing use of technology within HR as the function attempts to strategically reposition itself within the organisation is critically evaluated. Mindful of emergent strategies adopted by organisations to quantify the contribution of the HR function to organisational profitability the module also offers you an introduction to Human Capital Management. To support this end and in recognition of the centrality of financial planning to organisational success this module provides you with instruction on the preparation and interpretation of financial statements and data, including profit & loss accounts, balance sheets, cash budgets, capital investment appraisal and break-even analysis.

Upon completion of this module you will be able to
LO1: Critically evaluate the managerial and business environment within which HR professionals work
LO2: Evaluate how organisational and HR strategies are shaped by and developed in response to internal and external environmental factors
LO3: Analyse the impact of political, legal, demographic, social and technological trends on organisational and HR strategies and practices
LO4: Demonstrate a critical assessment of financial statements and their meaning, the budgetary process and the flow of money within an organisation.
LO5: Analyse and apply financial data to improve decision making