Performance and strategic management Essay Example | Topics and Well Written Essays - 15000 words

Performance and strategic management - Essay Example Strategic human resource provides effective management of the staff, including retention, and turnover processes, selection of employees that fit with both the organisational strategy and culture, and cost effective utilisation of employees through investment in identified human capital. Studies revealed that executives and managers put more importance on strategic management than any other subject of interest in the organisation. Also discussed in the literature are the models of strategy: the Industrial Organization (I/O) and Resource-Based View (RBV) models, first formulated by University of London Professor of Economics Edith Penrose. Penrose states that firms are heterogeneous and there is money to be made from exploiting the differences. Resources should meet the criteria of value, rarity, imperfect imitability and non-substitutability. RBV assumes that each organization forms each own data base, a collection of unique resources and capabilities from customers, employees, and competitors. And this uniqueness is the basis for a firm’s strategy. The subject of the research for this paper is the organisation Oman India Fertiliser Company, a global based in Oman. This is a partnership cooperation between the government of Oman and the India Company to manufacture ammonia and urea fertiliser. The study is conducted through a review of the literature, focusing on various aspects of performance and strategic management, HRM functions, including knowledge economy, the information revolution, and other related subjects. Qualitative research using questionnaires and interviews were used in the research. I wish to convey my gratitude to the people who have helped in the completion of this paper. To my†¦ who gave me the patience and courage to read and digest the voluminous literature from the library. To my†¦ who provided extra time in typing what have been researched. And to my tutor who