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In addition, there has been intensification in the level of competition at domestic as well as international levels resulting in an increased emphasis on developing strategies that can ensure maximization of return on investments made on the human resources of a firm.
In order to study the concept and best practices for ensuring an effective alignment of the two strategies, study has been conducted for three multinational firms, each belonging to a different industrial sector: namely, Information Technology (IT), Manufacturing and Retail.
An analysis of these different sectors will answer the question of whether it is necessary to align business strategy and corporate strategy with human resource strategy and if so, what the benefits achieved from such a linkage are.
As explained by Greer (2000), there is greater recognition of the fact that a competitive advantage and distinguished competency can be achieved through developing employee skills, developing unique organizational culture and developing effective management systems.
This paper targets some key multinational enterprises to get clarity over the alignment of corporate and business strategy with the human resource of the firm.
The field of international human resource management has been characterized by three broad approaches.
Early work in this field emphasized cross-cultural management issues.
Parallel to the development of research on strategic HRM issues, international HRM researchers and practitioners have paid increasing attention to more macro-level issues, such as the strategic nature of international HRM and implications for organizational performance.
This work raised awareness of the emergence of strategic international HRM, which has been defined as: “Human resource management issues, functions, and policies and practices that results from the strategic initiatives of multinational enterprises and that impact the international concerns and goals of those enterprises” (Schuler, 1993) Human resource management can play a vital role in environmental scanning i.e.
Thus, achieving and maintaining competitiveness of the organization is a key element of strategic human resource management.
This paper looks into the concept of integration of corporate and business strategy with human resource strategy and investigates the issue in some key multinational corporations.