Chapter 13 Functional Strategies Flashcards
1
Q
What are the 7 key functions of a business
A
Finance Marketing Information technology R&D Procurement Operations HR
2
Q
Define Human Resource management
A
Human resource management is the strategic and coherant approach to the management of an organisations most valued asset: the people.
3
Q
What must HRM strategies consider
A
Recruitment
Training
Rewards
Appraisals
4
Q
What is HR Planning
A
Recruitment plan - forecasts
Training plan - maintaining the right skill set
Productivity - how improve productivity and performance
Redevelopment - staff retrained and transferred internally
5
Q
What is innovations
A
Innovation is concerned with the generation of new ideas of how to business
6
Q
What factors to consider for innovation
A
Leadership - encourage new ideas Culture - failure is a learning process People - team based approach encourages participation Structure - flexible organisation Communication - openness sharing ideas
