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Process management class lectures_216835877-Strategic-Management-Process

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“Strategic management is the art, science and craft of formulating, implementing and
evaluating cross-functional decisions that will enable an organization to achieve its long-term
objectives.” It is the process of specifying the organization's mission, vision and objectives,
developing policies and plans, often in terms of projects and programs, which are designed to
achieve these objectives and then allocating resources to implement the policies and plans,
projects and programs. Strategic management seeks to coordinate and integrate the activities
of the various functional areas of a business in order to achieve long-term organizational
objectives. Strategic management is the highest level of managerial activity.
STRATEGIC MANAGEMENT AT TRIDENT GROUP
In the HR department of Trident group, prior to Strategic management, first of all let us do
SWOT analysis of the organisation.
SWOT Analysis of Trident group
SWOT analysis involves evaluating a company’s internal environment in terms Of strengths
and weaknesses and the external environment in terms of opportunities and threats and
formulating strategies that take advantage of all these factors.
SWOT analysis means analyzing strengths, weaknesses, opportunities and it is a useful
strategic planning tool and is based on the assumption that if managers carefully review
internal strengths and weaknesses and external threat and opportunities, a useful strategy for
ensuring organizational success can be formulated. It is a simple technique for getting a quick
overview of a strategic situation so that such strategies can be formulated as to produce a
good between the company’s internal competencies (strength and weaknesses) and
environment (opportunities and threats). Such analysis is an essential component of
thinking strategically about a company’s situation.
HUMAN RESOURCE DEVELOPMENT STRATEGIES AT TRIDENT
GROUP
Trident Industries strives to provide the best work environment with ample opportunities to
grow and explore. Trident Industries maintains a work environment that is free from physical,
verbal and sexual harassment. Every initiative and policy of the Company has buy-in of all its
employees. The human resources development function of the Company is guided by a strong
set of values and policies. The details of initiatives taken by the Company for development of
human resources are given in Management Discussion and Analysis Report.
1. Compensation Strategies:
There are set certain compensation strategies for different levels of managements, As the
different levels set in Abhishek Industries Energy Plant are Below M4 level (i.e. Includes
workers, officers and working staff etc.) and Above M4 level (i.e. Includes Supervisors,
managers, VPs etc.). Thus as per the categories compensation strategies are designed, in a
common practice, the rise in the compensation is higher in case of Above m4 level
employees.
Also another strategy being followed is in case of Above M4 level the revision of the
salaries is done every half yearly while for workers strategy is to calculate it weekly and pay

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every month. For the persons with skills and knowledge in TRIDENT salary is not a
constraint.
2. Employee Retention Strategies to retain skillful employees for future Employee
retention is the prime objective of Human Resources department of every organization, As if
the organization cannot stop its skillful and knowledgeable employees from leaving
organization, such organization cannot survive well for the long term. Various Strategies to
retain the good performers in the organization are as follows:
a) High Salary
Higher salaries around 1.5 2 times to the employees are being provided by the trident group
as this is the basic strategy not only to retain but also to attract good employees from other
competitor organizations. Such highly paid employees get automatically attracted towards
better work culture and also for attaining the set targets.
b) Exit Interview Strategy
This is a very recent strategy that has been recently introduced in the organization, as under
this policy, the persons above certain levels in the organization will be interviewed by the
MD himself as to find out the main causes behind this shift of organization for that employee.
Such practice not only help in finding the suitable causes behind employee leaving
organization, but also increase the morale of employees that MD of the organization is very
much interested in handling their grievances.
3. Rewards & Recognition
This strategy is known as R&R Strategy. Trident group guarantee high motivation levels at
Trident through stimulating work environment, growth-oriented job profiles, outstanding
development opportunities, competitive compensation packages and an innovative
recognition mechanism:
• Family Dinner with CEO for Muskaan Centurions
Best SGA Award for promoting a spirit of internal competition across work groups and
fostering teamwork
4. Maintaining the Trident Culture Trident Culture that is basically based upon the idea
“Kuch bhi assambhav nahi hai, sab kuch sambhav hai” is very much prevalent in the whole
organisation. Energy, innovation, performance and joy collectively define the work
environment at Trident, which is based on their core value of teamwork. Spirit of camaraderie
binds them all together, supporting one another to rise further. All members are provided
superior training to explore, develop and sharpen their capabilities and skills for excelling in
their roles.
5. Learning and Development Strategies “Face and Create challenges” Another
strategy of Trident Group is for continuous growth and development of its employees.
Continuous Growth & Development being an integral part of Trident's Vision, learning is
accorded a high priority. Training is provided to members to expose them to new ideas,
concepts and expand their horizons. This equips them to face all kinds of challenges both at
personal and professional front. A special emphasis is laid on growth and development of
their members. Trident group conduct and participate in an array of training programs and
workshops that comprise the technological, managerial and behavioral growth of their
members.

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“Strategic management is the art, science and craft of formulating, implementing and evaluating cross-functional decisions that will enable an organization to achieve its long-term objectives.” It is the process of specifying the organization's mission, vision and objectives, developing policies and plans, often in terms of projects and programs, which are designed to achieve these objectives and then allocating resources to implement the policies and plans, projects and programs. Strategic management seeks to coordinate and integrate the activities of the various functional areas of a business in order to achieve long-term organizational objectives. Strategic management is the highest level of managerial activity. STRATEGIC MANAGEMENT AT TRIDENT GROUP In the HR department of Trident group, prior to Strategic management, first of all let us do SWOT analysis of the organisation. SWOT Analysis of Trident group SWOT analysis involves evaluating a company’s internal environment in terms Of strengths and weaknesses and the external environment in terms of opportunities and threats and formulating strategies that take advantage of all these factors. SWOT analysis means analyzing ...
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