International human resource management (IHRM) manages the international business with the efficiency of utilization of the human resources. IHRM is mainly denoted as the set of activities that are managing the organization at an international level. The importance of the IHRM is to have a look on the core competency. In this course work, it is discussed regarding the corporate strategy that is helpful for the Myer organization in terms of tier strategy. Moreover, there is the organizational strategy that is helpful for the company.
The thesis statement of the study is both the corporate and organizational strategy that is implemented in employees of the company regarding the landscape of human resource.
The corporate strategy is denoted as the long term vision regarding that is set by the organization as well as to seek the values of corporate and motivating the workplace for implementing a proper action for achieving the goals. As per Al Ariss, Cascio & Paauwe (2014), this strategy is the continuous process that is required for the engaging the investor in order to trust their company for providing their money for increasing the equity of a company. As asserted by Clark et al. (2016), the corporate strategy mainly provides the overall direction for managing the business as well as the products. The corporate strategy of Myer is mainly helping for providing a guide in terms of the performance of the business in Myer. Moreover, it helps for identifying of the strength as well as opportunities that are required in the future for the company of Myer. It provides a clear goal that is focused by the organization.
Without the use of corporate strategy, it is not possible for having a long terms plan in terms of achieving the goals. In the corporate strategy, both tactics and strategy are the important parts that are required at the time of achieving the goals. As commented by Cooke, Saini & Wang (2014), the formal corporate strategy is an important tool because it mainly allows focusing on the multiple resources. When there is no clearance of corporate strategy the company loses the sights that provide the result of loss while achieving the goal of the Myer. The strategy is a benchmark in order to achieve the success of Myer. The proper corporate strategy allows the company for creating a plan that helps for the growth in the longer period. Moreover, the corporate strategy makes sure that the company is whole than the sum of their arts in Myer. In the corporate strategy is mainly made with the help of employees for gaining the goals of the organizations. The corporate strategy is of three types. As opined by Alfes et al. (2013), they are value creating strategy, value neutral strategy and value reducing strategy. In addition to that, all of this types of corporate strategy will help for gaining a position in the competitive advantage in the retail industry.
In a corporate strategy, there are nine essential elements that are required. The corporate strategy is mainly helpful for the marching towards the future with a determination. The nine elements are the mission, customers, analysts, competitors, investors, vendors, and media. The first element of corporate strategy that is the mission which denotes the employees of the organizations that helps to gain the objectives. As opined by Cristiani & Peiró (2015), the employees help for increasing the growth of an organization for a long time. The employees help to implement the Coppertone strategy in their proper place. The employees provide an insight look of the strategy that is implemented. As per Armstrong & Taylor (2014), the second element is the customer the corporate strategy is made in order to gain customer to be on the top of the competitive advantage. In the corporate strategy, the employees are the first to look because they implement whereas as the customer is the second.
In the corporate strategy, the third element is the analyst that provides an analysis of the implementation of the corporate strategy that has been made in terms of being in the top position. The fourth element is the competitors that include the mapping and analyzing of the competitors by the firm which focuses on the innovations. As per Festing & Schäfer (2014), the important step that can be focused is to make the competitors as the partners or vendors in order to implement the corporate strategy.
The fifth element is the investors that are denoted as the members of a firm those are investing their money to achieve their goals. The employees by providing proper information regarding the investor will help for the implementation of the strategy properly. The sixth element is the vendor that helps for the equal partnering at the time of delivering. As stated by Brewster et al. (2016), the seventh element is the Media that helps for the growth of the organization by the medium of public relations.
The eighth elements are the partners that are the important elements because the partner becomes a chain regarding the business while implementing the corporate strategy. The ninth element is the consultant that is denoted as the employees those are having problems can simply consult for resolving the problem. The employees are having full information regarding the implementation of the corporate strategy.
In the administrative theory, it is mostly based on the principles of the company such as the gaining profits, equal distribution of work and much more. In the company Myer with the implementation of the administrative theory, it is believed that the employees are treated naturally in order to have a friendly environment in the workplace. As asserted by Morgeson et al. (2013), the sharing of the objectives in the working environment between the employees is helpful for international aspect. Myer by innovating the products as well as making the employees independent in order to share their views for attaining objectives in the international aspect. The HR manager in the Myer will be motivating the employees by providing them training for growing their capabilities. The administrative theory also stated that providing of the rearwards and recognition by HR manager will help for achieving the goals. The company has the various division that is created by the HR manager to have a positive side in the international aspect. The division is marketing, financial and much more. Each of the division is based on the responsibility of employees in the international aspect. The employees of the company are distributed on each level to maintain their responsibilities.
The administrative theory has five basic elements that are helpful for the HR manager of a company in the international aspects. The first element is the planning that denotes the forecasting of the future and making of a plan for attaining a goal. As asserted by Nolan & Garavan (2016), in the company in terms of the international aspects there is a work division between the employees for providing their effectiveness in their experience field. The organizing is referred as the creation of the structure were determined which employee tackle which department. In Myer, the work is distributed according to their experience. The commanding is determined as the process of managing the employees. In Myer, this responsibility is done by HR manager in order to tackle the employees whether is any confusion of understanding the strategy that is implemented in the company. The coordinating showcases the efforts in order to fulfill the goals of an organization. At last, is the controlling that shows the performance of the organization at the international level with the help of the HR manager.
The International market is a huge area where the business has to be properly executed so that there is enough profit in the competitive level. In the international country, there is a huge change of demand found so HR has the responsibility to take over the workload and manage all the employees. In the opinion of Paillé et al. (2014), there are various challenges in the international level so to overcome those challenges the HR policies are helpful for handling the problems at the international level. The main thing is to focus on the identification of the employees as well as the selection that required the skills of the business. The cost projection also helps for the sending of an employee in order to have a local employee or not for the process of budgeting. The HR manager is also responsible for the proper documentation of all the information of the company that has some importance in the business in the international aspects.
The HR manager has the responsibility for compensating the employees those are effective in the abroad regarding their job purpose and it also includes the expenses of the employees that is tackled by the HR manager. As opined by Reiche, Mendenhall & Stahl (2016), the practice of training is another practice of the international assessments. The staffing is under the responsibility of the manager. In the internal level, most of the staff are employed with local employees because the local people have the immense idea regarding the culture of the races so it is beneficial for the international aspects of the company. The training is also provided by the HR in order to have an obedient level of employees with proper knowledge of the business.
The key elements of HR strategy in the company are mainly for the imperatives in terms of their strategy that is the core of the policy of HR as well as merging with the need of the company. As asserted by Renwick, Redman & Maguire (2013), HR makes sure that the goals of the company are achieved and the manpower is effectively achieved while gaining the profits in the international aspect. It also focuses on the role as well as to conduct a meeting for the employees of the company for proper implementation. The HR also focuses on the implementation of the strategy that is conducted in international aspects of the venture of the cost as well as to look after the performance of employees regarding their work.
The main key elements of the HR strategy are to design the structure of the organization is efficient and if it is helpful for making it in a systematic way. As opined by Sparrow, Brewster & Chung (2016), the structure of company helps for setting a comfortable climate in order to work properly. In addition to that, it also makes sure that the employees are acquainted with the organization towards achieving the goal. In Myer the HR strategy has been developed in three level they are group, individual and team. The HR strategy of the company makes sure that the training of the stores is effective in order to have better service for others. Another key element that is focused on the HR strategy of the company is to provide rewards and compensation to the employees for motivating them to work properly in the international aspects of the company. At last, the setting of the culture of the organization that is denoted as a plus point in the Meyer Company.
From the above discussion, it has been identified that the thesis statement is proved. The statements are provided with the concept of the corporate strategy with the agent of the company as the HR being the main head that tackles all the problems at the international level. Moreover, the company also focuses on the employees that help for the implementation of the international target. In addition to that, it is found that the HR in the company in the international levels handles all the problems regarding the cost differentiation as well as a focus of the company also. Moreover, the elements of the HR help in the international level of a company.
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