11.12.2012 Views

stock repurchase announcements: a test of market ... - Asbbs.org

stock repurchase announcements: a test of market ... - Asbbs.org

stock repurchase announcements: a test of market ... - Asbbs.org

SHOW MORE
SHOW LESS

Create successful ePaper yourself

Turn your PDF publications into a flip-book with our unique Google optimized e-Paper software.

strategy implementation best. It seems the main factor have to do with situational factors<br />

as they determine the fit between a given leader ship style and factors like, the nature <strong>of</strong><br />

task, technology , size <strong>of</strong> the <strong>org</strong>anization, industr y, etc,., am ong them the ty pe do the<br />

followers is the most i mportant one. Beer and Eisenstat h owever, considerer the<br />

following as main ingredients that the le adership team must incorporate in the leadership<br />

process for strategic success:<br />

• Clear strategy, clear priorities. The t op team formulates the strat egy as a group<br />

and spends significant amounts <strong>of</strong> time discussing it with lower levels.<br />

• An effective top team , whose me mbers posse ss a genera l-management<br />

orientation. T hrough const ructive confli ct, the team arrives at a common voic e<br />

and creates a nd m aintains the <strong>org</strong>aniza tional context needed to im plement the<br />

strategy.<br />

• Open vertical communication. The top team and lower levels are engaged in an<br />

open dialogue about the <strong>org</strong>anizations effectiveness.<br />

• Effective coordination. Effective teamwork integrates activities around<br />

customers, products or m arkets across diverse functions, localities and<br />

businesses.<br />

• Down-the-line leadership. Mid-level ma nagers with the potent ial to develo p<br />

leadership skills and a general-mana gement p erspective are given cl ear<br />

accountability and authority.<br />

(Beer and Eisenstat, 2000)<br />

Innovative HRM<br />

STRATEGIC MANAGEMENT: HR IMPLICATIONS<br />

Like any other aspect <strong>of</strong> strategic approach to management, HR strategic approach is considered<br />

as a process <strong>of</strong> developing HR strategies in such a way to support the business strategies. Wright<br />

et. al., based on some 20 companies study describe the generic approach to Strategic HR as<br />

somewhat consist with process for developing business strategies (Right, 2001) Noe et.al.<br />

depict 5 basic stages in identifying the HR strategy beginning from Scanning the external<br />

environment to identifying strategic business issues leading to identification <strong>of</strong> peoples issue and<br />

then developing and communicating HR strategies, (See Figure 2)<br />

Scan the<br />

external<br />

environment<br />

Basic Basic Process Process for HR Strategy Strategy<br />

Identify<br />

strategic<br />

business<br />

issues<br />

Identify<br />

people<br />

issues<br />

Develop<br />

HR<br />

strategy<br />

Communicate<br />

the HR<br />

strategy<br />

McGraw-Hill/Irwin © 2006 The McGraw-Hill Companies, Inc. All rights reserved.<br />

ASBBS E-Journal, Volume 4, No.1, 2008 201

Hooray! Your file is uploaded and ready to be published.

Saved successfully!

Ooh no, something went wrong!