1. Strategic Management BHRM 31124 R.A.Ishanka Chathurani Lecturer (prob) Department of Human Resource Management Faculty of Commerce & Management Studies University of Kelaniya

14. Cont… Summery Functional area Comment marketing Diversifying products and services pricing, promoting and distributing them, in order to satisfy customer needs at a profit. Marketing and corporate strategies are interrelated Production Factory location, manufacturing techniques, outsourcing and so on Finance Ensuring that the firm has enough financial resources to fund its other strategies by identifying sources of finance and using them effectively HRM Secure personnel of the right skills in the right quantity at the right time, and to ensure that they have the right skills and values to promote the firm’s overall goals Information systems A firm’s information systems are becoming increasingly important, as an item of expenditure, as administrative support and as a tool for competitive strength. Not all information technology applications are strategic, and the strategic value of IT will vary from case to case

20. Strategic Drift Environment Change Strategic change