Lp1.1 Assignment: Strategic Plan Paper

LP1.1 Assignment: Strategic Plan PaperName:Institutional affiliationHuman Resource Management and Strategic ManagementBusiness organizations need three classes of resources to achieve their objectives which are; the financial, technological and human resources. Human resource is under the Human Resource (HR) Department. There is a common misconception that HR departments are where employees come to air their problem. This leads to the underutilization of the department. However, for successful organization, HR plays a lead role in the formulation of the company’s strategy. Roles of the department are often split into Human Resource Management (HRM) and Human Resource Development (HRD). Strategic management on the other hand is concerned with the setting and implementation of organizational goals. These goals are implemented by the employees. Employee development is therefore a key role of the HR department towards strategic management. Adding Value to Human ResourceAll resources, including the Human Resources must be allied with the organizational goals. Human Resource Development enables an organization to make full utilization of its employee’s potential (McGuire, 2014). One duty of HRD is to train employees. Training ensures that the employees have the right knowledge and skills to meet