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Walecki University’s Institute for the Economy and the Future and the University of Illinois Urbana-Champaign’s Regional Economics Application Laboratory and ACCRA, Jan U.S. Department of Commerce, EDA (2007b) - Unlocking Rural Competitiveness, the Role of Regional Clusters, Report prepared for EDA by the Regional Development Center, Purdue University, Indiana Business Research Center, Kelley School of Business, Indiana University and Strategic Development Group, Inc., Jan U.S. Department of Commerce, National Technical Information Service (1996) - America’s Clusters: Building Industry Clusters, Report prepared by DRI-McGraw Hill, Author: J.O. Gollub, June Walecki, Julius M. (2007) - Changing Business Environments, International Trade and Regional Integration: Who Needs CAFTA?, Economic Affairs, Oxford: Jun, 27(2), 73-77 Walecki, Julius M. (2001) - New Regional Growth Stimulators: Are Trading Blocs and Common Markets Supporting Regional Development? The Case of Mercosul and Brazil, Paper presented at the 40 th Anniversary Conference of WRSA, Palm Springs, CA Welles, Nancy (1981) - What Site-Selection Consultants Are Saying Now, Institutional Investor, New York: Nov, 15(11), 163-171 Wood, Gavin A. and John B. Parr (2005) - Transaction Costs, Agglomeration Economies and Industrial Location, Growth & Change, Winter, 36(1), 1-15 Zook, Matthew A. (2005) - The Geography of the Internet Industry: Venture Capital, Dot-coms, and Local Knowledge, Boston: Blackwell Publishing ASBBS E-Journal, Volume 4, No.1, 2008 196
INNOVATIVE HRM: HOW HR ACTIVITIES CAN BE EMBEDDED INTO THE OVERALL STRATEGIC THRUST OF THE FIRM Asghar Zomorrodian, Ph.D. (Dr. Z) Union Institute and University Asghar.zomorrodian@tui.edu ABSTRACT This paper explores the design and implementation of strategic HR in line with the overall corporate and business strategies of the firm in achieving the competitive advantage. The main thrust in crafting and implementing the business strategies via strategic planning and other means will be presented first. Next the tie between such strategies and effective HR strategic will be explored by focusing on two strategic HR processes of compensation and performance management as outstanding examples. The paper makes clear references to the application of recent models in both areas like “broadbanding”, “36-degree feedback”, and “balanced score cards” The leadership factor and creating a high performance model in the organization as manifested by the significant role that strategic HR plays are the other focus of the paper. STRATEGIC APPROACH TO MANAGEMENT So much has been said, written and preached about strategic management in the past few decades. It seems that Strategic ap proach to manage ment i s now-a-days a modus operandi in most organizations. However, in spite of its pervasiveness, one wonders why so many or ganizations, public, privat e, nonpr ofits, and ot hers fail to achieve their strategic goa ls and objectives the wa y they planned to achieve. Aside f orm the complexity of this management process a nd the nuances involved in its im plementation, there are a few major factors, so common to any effective management approach, that are normally ov erlooked b y m ost organ izations when it com es to pursuin g a strategic approach. Major among them are factors related to strategy implementation and different, mostly new, sy stems that must be put i n place to accommodate the demands raised by new strategies. Factors like different or modified organizatio n structure, team and organizational culture, re ward sy stem, perfo rmance manage ment sy stem and may be most important of all, the “leadership” factor are known culprits. Often top management and executive tea ms take these factors for granted a nd assume that well crafted sets o f strategies, norm ally as manifested by strategic plan , will safeguard the att ainment of strategic goals. In this respect an increasing problem or need that arises relate to the lack of well est ablished holistic as sessment and ev aluation process that can help providing continuous feedback and correction mechanisms during t he strategy im plementation phase. For most part organizations stick to the existing management and business models including old-fashioned performance appraisal system that may not be co mpatible with the new demands for prop er strategy implementation. The thrust of this paper is to focus on Human Resources Policies and Practices, not only as an integral part of the strat egic process, but to highlight their vital role in th e make or break of any strategy and strategic plan of t he firm. The paper thou gh starts with some general overview of the definition and process of strategic management bot h in ter m so strategic planning and ASBBS E-Journal, Volume 4, No.1, 2008 197
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ASBBS eJournal Volume 4, No.1, 2008
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HOUSING INVESTMENT AND PROPERTY TAX
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