Jawaharlal Nehru Technological University Hyderabad B.Tech IV Year CONSTRUCTION MANAGEMENT Previous Question Paper (September - 2020 - R15)

Strategic management is the continuous process of planning, monitoring, analysis, and assessment of all necessities an organization needs to meet its goals and objectives. It involves formulating and implementing major goals and initiatives taken by an organization's top management on behalf of owners, based on consideration of resources and an assessment of the internal and external environments.

The implementation phase involves translating strategic plans into action through the following steps:

• Resource Allocation: Distributing financial, human, and physical resources to support the strategic priorities.
• Organizational Structure: Aligning the company hierarchy and reporting lines to facilitate the execution of the strategy.
• Policy Development: Establishing internal rules and standard operating procedures that guide employees toward the strategic vision.
• Culture Alignment: Ensuring the organizational culture supports the new strategic direction through effective communication and leadership.
• Performance Control: Setting key performance indicators (KPIs) to monitor progress and making necessary adjustments to ensure the strategy remains on track.

Human Resource Management (HRM) is the strategic approach to the effective management of people in an organization such that they help their business gain a competitive advantage. It is designed to maximize employee performance in service of an employer's strategic objectives.

Key functions of HRM include:

• Recruitment and Selection: Identifying, attracting, and hiring the right talent to fill organizational roles.
• Training and Development: Enhancing employee skills and knowledge to improve productivity and prepare them for future responsibilities.
• Performance Management: Evaluating employee contributions and providing feedback to ensure alignment with organizational goals.
• Compensation and Benefits: Designing fair reward systems, including salaries, incentives, and welfare measures to retain talent.
• Employee Relations: Maintaining a healthy work environment, managing conflicts, and ensuring compliance with labor laws and safety regulations.