From the course: Human Resources: Leadership and Strategic Impact
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Strategy is choices and optimization
From the course: Human Resources: Leadership and Strategic Impact
Strategy is choices and optimization
- Michael Porter, a leading expert on organizational strategy said, "Strategy is about making choices, trade-offs." A good example of trade-offs is how companies treat their customers. Airlines allow frequent fliers to board early, access preferred seats, and check bags for free. Less frequent fliers board last, sit in middle seats, and pay for checked baggage, but they may also pay very low basic fares. Strategic customer service requires treating customer classes differently. Investing more where the payoff is higher, and less where the payoff is less. Yet, when it comes to HR strategy and people investments, leaders often forget this logic. They often treat all employees the same. If some employees earn performance bonuses, then everyone should. If some employees get innovation training, then everyone should. Ian Ziskin, the former chief HR officer for Northrop Grumman, says, "This is like giving all the plants in a garden "the same amount of sun, nutrients, and water, "and it's…
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