netrashetty
Netra Shetty
Anixter International (NYSE: AXE) is a Fortune 500 (#404 [3], Fortune 2009) company based in Glenview, Illinois, USA and founded in 1957. Anixter is a leading global supplier of communications and security products, electrical and electronic wire and cable, fasteners and other small components. Anixter has physical presence in 52 countries and has more than 5,000,000 square feet (460,000 m2) of warehouse space. The Anixter Aerospace Hardware division focuses on the distribution of military and aerospace hardware.
In 2008, the company had $6.2 billion in revenue with a global presence that includes locations in 271 cities in 52 countries.[4] The company operates with four major divisions:
* Enterprise Cable & Security Solutions
* Electrical and Electronic Wire & Cable
* Fasteners
* Aerospace Hardware
Lifelong learning (or continuous learning) provides extensive continuing training, from basic remedial skills to advanced decision-making techniques throughout employees’ careers. Tannenbaum (1997) defines continuous learning as the process by which individual and/or organizational learning is fostered on an ongoing basis. One of the major tenets of continuous learning philosophy is that employees at all levels of the company must actively pursue training and development activities. Continuous learning also requires employees to understand the relationship between their jobs and work units and the company’s mission. Continuous learning is an ongoing acquisition of new skills, which happens as the person senses the need for updating, as opposed to a less frequent, massive reskilling process. Continuous learning focuses on helping the employees to develop and update their knowledge and skills. Just as the current business environment demands that organizations unleash employee potential by empowering them and delegating authority and responsibility for meeting customer needs, employee also needs to be given responsibility, autonomy, and resources for his or her own continuous learning and development (Craig and Hall 2004).
Macquarie maintains a flexible management and organizational set-up so as to be able to change according to the demands of the business environment. During the 1980s and 1990s changes occurred in the environment of Australian financial institutions. These included rapid deregulation of the financial services sector by the Australian Labour Government. The critical moves involved were the floating of the Australian dollar; progressive removal of restrictions on competition between banks, building societies, merchant banks and other institutions which offer financial and financially related services; approval of new banking licences including licences to 16 foreign-owned banks to operate in Australia. Macquarie Bank manages to remain successful by introducing incremental adjustments while operating in a rapidly changing environment.
Question 3: Strategic Performance Management
In the recent years, Strategic Human Resource Management (SHRM) increased in popularity among researchers, practitioners, and managers. SHRM is defined as linking the HRM function to the strategic goals and objectives of the organization to improve business performance and develop organizational cultures that foster innovation and flexibility (Verweire and Berghe 2004). The main objective of SHRM is to strategically improve the way human resources are managed within the organization. The definitive goal of SHRM is to improve organizational performance as judged by its impact on the organization’s declared corporate strategy, the customer or shareholders (Brewster et al 2000, p. 6).
Strategic human resource management (SHRM) is a philosophy of people management based on the belief that human resources are uniquely important to sustain the success of a business. SHRM can be defined as the process of linking the human resource functions with the strategic objectives of the organization in order to improve performance (Ahmed et al, 2006). Strategic human resource management involves the linking of HRM with the strategic goals and objectives of the organization in order to achieve a progressive business performance and achieve an organizational structure that promotes innovation and flexibility (Buyens and de Vos 1991). Strategic HRM according to Burke and Cooper (2004) has emerged as a major approach to improving the competitive advantage of the firm. The goals and objectives of HRM are aligned with the strategic objectives and plans of the organization. The role of HRM is to determine the human resources needed to support strategic objectives and to ensure that employees are selected, trained, evaluated, and rewarded in ways that further the achievement of business objectives. Strategic HRM is frequently described as a linear, balanced process that begins with the identification of goals that will guide human resource practices. The integration of the HR programs with the goals of the organization will result to the organization’s increased value. The recruitment, compensation, performance appraisal, promotion, training and other functions are designed and managed so that they work towards the strategic objectives of the firm (p.92). Strategic HRM has the purpose of improving the way that human resources are managed within firms. The main objective of strategic HRM is to improve organizational performance as judged by its impact on the organization’s declared corporate strategy (Brewster et al 2004, p. 29). Strategic human resources management means accepting the HRM function as a strategic partner in both the formulation of the organization’s strategies and the implementation of those strategies through activities such as recruiting, selecting, training, and rewarding personnel (Sims 2002, p. 27). The enhanced value of innovation in determining competitive advantage requires organizations to attract, train and develop, and retain employees of the highest quality. Over time and throughout rapidly changing circumstances, organizations must be able to sustain the competitive advantage that the knowledge and skills of these employees provide. In the past, competitive advantage could be gained through finding better, cheaper access to financial capital, or marketing a new product, or inventing some new technologies. While cheap and ready access to capital, high-quality products, and new technology remain important components of any organization’s competitive advantage, today’s business environment requires a greater focus on the human resources element in business. Out of this realization has come SHRM
In 2008, the company had $6.2 billion in revenue with a global presence that includes locations in 271 cities in 52 countries.[4] The company operates with four major divisions:
* Enterprise Cable & Security Solutions
* Electrical and Electronic Wire & Cable
* Fasteners
* Aerospace Hardware
Lifelong learning (or continuous learning) provides extensive continuing training, from basic remedial skills to advanced decision-making techniques throughout employees’ careers. Tannenbaum (1997) defines continuous learning as the process by which individual and/or organizational learning is fostered on an ongoing basis. One of the major tenets of continuous learning philosophy is that employees at all levels of the company must actively pursue training and development activities. Continuous learning also requires employees to understand the relationship between their jobs and work units and the company’s mission. Continuous learning is an ongoing acquisition of new skills, which happens as the person senses the need for updating, as opposed to a less frequent, massive reskilling process. Continuous learning focuses on helping the employees to develop and update their knowledge and skills. Just as the current business environment demands that organizations unleash employee potential by empowering them and delegating authority and responsibility for meeting customer needs, employee also needs to be given responsibility, autonomy, and resources for his or her own continuous learning and development (Craig and Hall 2004).
Macquarie maintains a flexible management and organizational set-up so as to be able to change according to the demands of the business environment. During the 1980s and 1990s changes occurred in the environment of Australian financial institutions. These included rapid deregulation of the financial services sector by the Australian Labour Government. The critical moves involved were the floating of the Australian dollar; progressive removal of restrictions on competition between banks, building societies, merchant banks and other institutions which offer financial and financially related services; approval of new banking licences including licences to 16 foreign-owned banks to operate in Australia. Macquarie Bank manages to remain successful by introducing incremental adjustments while operating in a rapidly changing environment.
Question 3: Strategic Performance Management
In the recent years, Strategic Human Resource Management (SHRM) increased in popularity among researchers, practitioners, and managers. SHRM is defined as linking the HRM function to the strategic goals and objectives of the organization to improve business performance and develop organizational cultures that foster innovation and flexibility (Verweire and Berghe 2004). The main objective of SHRM is to strategically improve the way human resources are managed within the organization. The definitive goal of SHRM is to improve organizational performance as judged by its impact on the organization’s declared corporate strategy, the customer or shareholders (Brewster et al 2000, p. 6).
Strategic human resource management (SHRM) is a philosophy of people management based on the belief that human resources are uniquely important to sustain the success of a business. SHRM can be defined as the process of linking the human resource functions with the strategic objectives of the organization in order to improve performance (Ahmed et al, 2006). Strategic human resource management involves the linking of HRM with the strategic goals and objectives of the organization in order to achieve a progressive business performance and achieve an organizational structure that promotes innovation and flexibility (Buyens and de Vos 1991). Strategic HRM according to Burke and Cooper (2004) has emerged as a major approach to improving the competitive advantage of the firm. The goals and objectives of HRM are aligned with the strategic objectives and plans of the organization. The role of HRM is to determine the human resources needed to support strategic objectives and to ensure that employees are selected, trained, evaluated, and rewarded in ways that further the achievement of business objectives. Strategic HRM is frequently described as a linear, balanced process that begins with the identification of goals that will guide human resource practices. The integration of the HR programs with the goals of the organization will result to the organization’s increased value. The recruitment, compensation, performance appraisal, promotion, training and other functions are designed and managed so that they work towards the strategic objectives of the firm (p.92). Strategic HRM has the purpose of improving the way that human resources are managed within firms. The main objective of strategic HRM is to improve organizational performance as judged by its impact on the organization’s declared corporate strategy (Brewster et al 2004, p. 29). Strategic human resources management means accepting the HRM function as a strategic partner in both the formulation of the organization’s strategies and the implementation of those strategies through activities such as recruiting, selecting, training, and rewarding personnel (Sims 2002, p. 27). The enhanced value of innovation in determining competitive advantage requires organizations to attract, train and develop, and retain employees of the highest quality. Over time and throughout rapidly changing circumstances, organizations must be able to sustain the competitive advantage that the knowledge and skills of these employees provide. In the past, competitive advantage could be gained through finding better, cheaper access to financial capital, or marketing a new product, or inventing some new technologies. While cheap and ready access to capital, high-quality products, and new technology remain important components of any organization’s competitive advantage, today’s business environment requires a greater focus on the human resources element in business. Out of this realization has come SHRM
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