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SWOT analysis (or SWOT matrix) is a strategic planning and strategic management technique used to help a person or organization identify Strengths, Weaknesses, Opportunities, and Threats related to business competition or project planning.
The execution/implementation phase ensures that the project management plan's deliverables are executed accordingly. This phase involves proper allocation, coordination, and management of human resources and any other resources such as materials and budgets. The output of this phase is the project deliverables.
This enables more informed and data-driven decision-making processes across the organization, leading to improved strategic planning, resource allocation, and overall business performance. Moreover, ERP systems facilitate better forecasting and trend analysis, helping businesses anticipate market changes, identify opportunities, and mitigate ...
Competence is the set of demonstrable characteristics and skills that enable and improve the efficiency or performance of a job. Competency is a series of knowledge, abilities, skills, experiences and behaviors, which leads to effective performance in an individual's activities.
The most significant advantage of adopting E-HRM practices is the release of HR personnel from intermediary functions, allowing them to focus on strategic planning and growth within the human resources department. [12]
Maintaining the human resources (recruiting and retaining talented employees and executives) Ensuring the availability of required materials (e.g. raw resources used in manufacturing, computer chips, etc.) Ensuring that the firm has one or more unique competitive advantages
Competence-based strategic management is a way of thinking about how organizations gain high performance for a significant period of time. Established as a theory in the early 1990s, competence-based strategic management theory explains how organizations can develop sustainable competitive advantage in a systematic and structural way.
A contingency theory is an organizational theory that claims that there is no best way to organize a corporation, to lead a company, or to make decisions.Instead, the optimal course of action is contingent (dependent) upon the internal and external situation.