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19 Cards in this Set
- Front
- Back
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Business Plan
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provides a comprehensive view of the firm's situation today and of its company-wide departmental goals and plans for the next 3 to 5 years
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MBO (Management by Objectives)
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a technique in which supervisor and subordinate jointly set goals for the latter and periodically assess progress toward these goals
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strategic plan
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plan for how the company will match its internal strengths and weaknesses with external opportunities and threats in order to maintain competitive advantage
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strategy
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course of action the company can pursue to achieve its strategic aim
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strategic management
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the process of identifying and executing the organizations strategic plan, by matching the company capabilities with the demands of its environment
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vision statement
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general statement of the firms intended directions; shows in broad terms what "we want to become"
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mission statement
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summarizes the answer to the question what business are you guys in?
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corporate level strategy
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strategy that identifies the portfolio of businesses that comprise the organization as a whole and the ways in which these businesses relate to each other
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competitive strategy
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identifies how to build and strengthen the business's long-term competitive position in the market
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functional strategy
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identifies the activities that each department will pursue in order to help the business accomplish its competitive strategy
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offshoring
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exporting jobs from developed countries to low-cost labor countries
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strategic human resource management
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formulating and executing human resource policies and practices that facilitate the employee competencies and behaviors the company needs to achieve its strategic aims
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strategy map
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tool that shows the big picture of how each department's performance contributes to achieving the company's overall strategic goals
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hr scorecard
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assigning financial and non-financial metrics to HRM-related activities required for achieving the company's strategic aim and for monitoring results
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digital dashboard
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presents the line-manager with metrics of the HR related activites of his or her own department (sick-days, performance, etc.)
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high-performance work systems
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hrm policies and practices that promote and facilitate organizational efficiency
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hr metrics
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quantitative measure of some human resource management yardstick such as employee turnover, hours of training per employee or qualified applicants per position
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value chain
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identifies the primary activities that create value for customers and related support
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hr audit
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analysis by which an organization measures where it currently stands and determines what it has to accomplish to improve its HR function
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