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Strategic Management

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Describe the differences between the directional, portfolio, and parenting strategies. In addition, describe when you would use these major types of strategies.

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The response addresses the queries posted in 869 words with references.

// This document will throw light on the differences between the three types of Corporate Level Strategies namely; Directional, Portfolio and Parenting. This will also help in understanding the cases and situations in which these strategies can be taken into use in an organization. //

The Corporate Level is the level that involves the strategy formulation for the corporation as a whole. One of the key functions of the corporate level strategy is to make prior plans regarding the decisions on how many, what types, and which specific lines of business the company should invest in. It also pursues the ways to identify the valuable and suitable cross- business strategies in order to turn them into competitive advantage for the organization. And, for accomplishing so, it takes the help of three major kinds of strategies namely; Directional strategy, Portfolio strategy and Parenting strategy (Dobson, Starkey & Richards, 2004).

Directional strategy possesses the directions that turn into the most appropriate directions for the company to move forward. The easiest way to decide upon the direction is in terms of the products made by the firm and the market in which the firm operates. It includes the following three options:

L Growth- Growth can be concentrated or diversified. Concentrated growth is again classified into Vertical growth, which is good if the ...

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The response addresses the queries posted in 869 words with references.

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1. What s strategic human resource management?

2. What are the key objectives of Human Resource Planning?

3. Describe the two major models of strategy for strategic management discussed in the text. Compare and contrast the models

4. Describe how human resource planning (HRP) is integrated with strategic planning.

5. How does strategic HR differ from traditional HR?

6. What implications do the anticipated changes in age of the workforce have for the management of human resources?

7. What are the barriers to strategic HRM?

8. What is the Balanced Scorecard?

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