sTRIVE final.pdf

People are assets whose value can be
enhanced through investment. As with any
investment, the goal is to maximize value
while managing risk.
An organization’s human capital approaches
should be designed, implemented and
assessed by the standard of how well they
help the organization achieve results and
pursue its mission.
Quite a number of principles related to
human capital management were put forth
by various organizations, aimed at managing
human capital efficiently. GAO in April
1995 sponsored a 2-day symposium of 32
leaders from leading private and public
organizations, to discuss the approaches of
these organizations towards managing
people. The principles – Value people as
assets rather than coasts; hold managers
responsible for achieving results instead of
imposing rigid, process-oriented rules and
standards; choose an organizational structure
appropriate to the organization, rather than
trying to make ‘one size fit all’; integrate
human resource management into the
mission of the organization; provide
sustained leadership that recognizes change
as a permanent condition were put across by
the participating organizations as principles
for effective human resource management.
The human capital practices have to be
evaluated and the process has to be
continuous in order to achieve the
organization’s strategic objectives.
Strategic Flexibility – In
Uncertain Times
To succeed in today’s competitive
environment, a set of robust strategies that
can respond to any scenario that challenges
a business or a corporation, is needed.
However, formulating strategies for a
business, to withstand disruptions is a
herculean task and this does not come easily.
Though strategies for maintaining flexibility
is different for different businesses,
depending upon the various factors that
bring about change, few steps like –
challenge complacency, employee
empowerment, open lines of
communication, collaboration through cross
functional teams, transparency in
information sharing, will by and large stand
valid.
Global Sourcing – Globalization at
its Best
Global sourcing, which is a way of sourcing
goods and services from the global market,
is one of those strategies that is drawing
increasing attention from organizations. It
aims at exploiting global efficiencies in
delivering goods and services at reduced
cost and it shouldn’t come as surprise that it
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NOVEMBER 2012