Ch.1 Ashley *done* Flashcards
What is the definition of strategy?
The formulation of organizational missions,goals,objectives and action plans for achievement that explicitly recognize competition and the impact of outside environmental forces.
What is strategic Human Resources Management?
The strategic management of people through HR programs and policies to ensure achievement of strategic objective such as:
- profitability
- customer satisfaction
- employee performance
- organizational survival
What makes you happy?
Chocolate chocolate chocolate
what is an intended strategy?
An intended strategy is planned and deliberate. It is the set of intentional acts that is contemplated and planned to accomplish a goal. An intended strategy is also sometimes called a deliberate strategy.
What is an emergent strategy?
A set of certain consistent actions that form an unintended pattern that was not initially anticipated or intended in the initial planning phase. For example, although unintended, adopting an emergent strategy might help a business adapt more flexibly to the practicalities of changing market conditions.
What is corporate strategy?
Organizational-level decisions that focus on long-term survival.
- restructuring-turnaround, divestiture, liquidation, bankruptcies
- Growth- includes incremental, international and mergers and acquisitions.
- Stability- maintain status quo
Describe Turnaround strategy
a Restructuring strategy, to attempt to increase the viability of an organization.
Describe the divestiture strategy
A restructuring strategy, a sale of a division or part of an organization.
Describe the liquidation strategy
a restructuring strategy, the termination of a business and the sale of it’s assets.
Describe bankruptcy as a restructuring strategy
A formal procedure in which an appointed trustee in bankruptcy takes possession of a business’s assets and disposes of them in an orderly fashion.
Describe incremental growth
A growth strategy that can be attained by expanding the client base,increasing products/services, changing the distribution networks, or using technology
Describe international growth
A growth strategy that can be attained by seeking new customers or markets by expanding internationally.
Describe Acquisition
The purchase of one company by another
Describe merger
2 organizations combine resources and become one.
Define a stability strategy
Maintenance strategies where companies do not wish to see their companies grow and so their strategic hrm practices remain constant aka. status quo,neutral or do-nothing strategies.
