Strategic Business Tools for HRER Professionals

Catalog description

This course connects Business Strategy, Financial Tools, and HR to an organization's strategic business objectives. HRER 825 Strategic Business Tools for HRER Professionals (3)Students will learn critical concepts associated with business strategy initiatives, including the application of the experience curve, the growth-share matrix and blue ocean strategies. Students will particularly focus on an analysis that supports the creation of a sustained competitive advantage. This process will expose students to the basic accounting processes from which the statements are built, personalize the understanding of the purpose and use of each of the statements, and address many of the financial concepts which will help students gain credibility with other organizational decision makers. Also, students will address such issues as calculating Return on Investment (ROI), other cost/benefit tools, as well as the conceptual framework around which risk management issues affect financial calculations. HR students will develop a comprehensive understanding of tools that link HR policies and practices to the support of business strategy. In this context the critical concept is the use of metrics designed to provide continuous feedback concerning the efficiency and effectiveness of HR efforts. Students will learn how to identify appropriate metrics based on specific initiatives (e.g., talent management), create metrics that are valid and reliable measures of success, and create dashboard (i.e., balanced score cards) designed to provide comprehensive data to all corporate stakeholders.