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Strategic Resource Planning

STRATEGIC RESOURCE PLANNING

Strategy implementation is the transformation of chosen strategy into organizational action so as to achieve strategic goals and objectives.  The journey towards success is a saga or penance, where your effort and concentration is focused only on achieving the goal. It can be compared to the blinkers for a horse to give direction and avoid distractions. Proper resource planning is the key factor that gives a practical shape to your strategies. The available resources should be put into optimum use.

strategic resource planning

Corporate Resource Planning:

Resource planning at the corporate level comprehensively covers the planning for physical resources, human resources, financial and intangible or intellectual resources like patents, copyrights, technology, trademark etc., at the macro level of the firm. These are needed for the corporates to achieve their vision and also give direction to the departments at the functional level. These resources are allocated after giving due consideration to the industry’s cycle position, competitor strength, technological changes in the industry, market share and the type of competition in the industry.

Economic Models with Value Additions:

For instance, automobile owners have tapped the customer psychology and are concentrating more on producing bug cars that is very appealing to the upper middle class families, since a four wheeler is more comfortable and safe to drive, well within the budget range, ideal for a nuclear family and at the same time serves the purpose of a status symbol. So, these car manufacturers become direct competitors for two wheeler producers. Even if say, 25 to 30 percent of two wheeler population is shifted to four wheeler usage it is a huge success to the car manufacturers. Tata Nano car, a brain child of Ratan Tata is one of its kind. He has capitalized on the middle class Indian frame of mind to go for economic models with value additions.

“Nothing is permanent except change”, so in this fast moving business arena all business persons are subjected to the necessity of thinking new, if not big. Corporates concentrate more on their strategic business units which serve as functional units and also a part of an organization, say a factory or a showroom. The resources for each of these business units have to be planned. The human resource department has to play its part in a promising way as human personnel are the critical success factors of an organization that manipulate other resources efficiently.

Product and Process Innovations:

Product and process innovations are the need of the hour and corporates are spending huge amounts on research and development of new products and processes. It has to be kept in mind that the innovations have to reach the markets quickly in order have an edge over your competitors.

  • Identify your strength
  • Tap the unidentified needs of the consumer
  • Allocate management responsibility for each task
  • Set your priorities by resource rationing
  • Test your key assumptions
  • Whether your product is acceptable in the market
  • Whether the technology is updated

All of these help you in forming a strategic platform upon which strategic implementation is done. Rational and realistic assumptions are the basic premises on which your decisions have to be based. Adequate finance, machinery and maintenance, labor force, marketing mix, your product strength, critical success factors of your organization, everything has to be thoroughly analyzed and put into action for successful strategic implementation.

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