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Strategic Human Resource Management: Management

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Question: Write an Eassay on Strategic Human Resource Management?     Answer: Introduction Global marketplace is an area that attracts most of the company to initiate strategies essential for the motivation. This entails use of certain strategies that help the companies to enter the international marketplace. In such case the most important aspect that is necessary is to understand the need of the specific market (Rugman & Collinson, 2009). It is a completely new infrastructure that is framed in order to receive the desired positioning in the global market. In the present study ToolsCorp Corporation in trying to break in the international market after, it’s present location being Tennessee. Strategies required entering the global marketplace The major strategies that could be implemented include the ones like that of the following: To know about the history and customer behavior- It is important to know the customer perception and the particular history of the place. This helped the company to know about the wants of the customer based on the culture. It is the understanding of the cultural aspect that helps the company to enter in the market knowing the desires of the particular customer base (Harness, 2009). The behaviors of the customer are largely dependent on the demographic location and the culture that they retain. Value fluctuation relating to the economic facilities- this is one of the most important aspects that may be dealt with the import export facilities. In this regard some company or organization may need more of time based on the country they are entering. The return of investment in such case may take time if the country has high levels of economic fluctuations. Knowledge of laws- The contract law or the knowledge of the business law of the particular country is important. In this case the major issues that may be related to the consumer law must be known by the company. Modi (2012) opines this helps the company to formulate the strategies and offer service based on the knowledge. Comprehensive ideas about the legal system of the nation are crucial in dealing with the intervention of any company in the market. Understanding the focus group for prospective benefits- In every country or a particular locality there are certain needs and demands. This is specific to the cultural orientation or the preference of the population. There has to be a market analysis that is to be conducted based on a survey. This would help the company to understand the wants of the customers which has been targeted as the audience. To understand the competition- In case of the understanding the competition it is important to make a market survey. This would help in getting the similar products that may be made by the new company. The strategy and the products are to be made in such manner that most of the products must gain the competitive advantage. This would benefit the company with the profit perspectives (Martin, 2009). Managing the network- The management of the entire network has to be effective. This would help in getting the structure of the entire organization. The strategies for the efficient management of the resources are important even in the local area. The network in such case has to be hierarchical and also the entire structure of the company
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