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HRM Final > Chapter 2 > Flashcards

Chapter 2 Flashcards

Strategic HRM

1
Q

to deploy and allocate resources in order to a gain a competitive advantage

A

Strategic HRM

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2
Q

story how firm will create value for customers
how it will create value for customers profitbaly

A

2 part business model

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3
Q

Fixed costs

A

never change despite the number of units produced

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4
Q

Vary directly with the number of units produced

A

Variable costs

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5
Q

Price of product minus it variable cost

A

margin

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6
Q

Number of units sold times contribution margin

A

Gross margin

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7
Q

Analyze a company’s competitive situation
Develop strategic goals
Devise a plan of action

A

SHRM

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8
Q

Approach to addressing competitive challenges that organization face

A

shrm

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9
Q

Hr manages the “pattern or plan that intergrates and organizations major goals, policies, and action sequence into a cohesive whole”

A

shrm

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10
Q

Developing strategies for achieving company’s goals based on its current enviornment

A

shrm

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11
Q

strategic planning groups decide on strategy

A

Strategy formulation

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12
Q

Organization follows through on strategy

A

Strategy implementation

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13
Q

Lowest level of interaction focusing on day-to-day activities

A

Administrative linkage

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14
Q

Corporate leader decide and tell HR and don’t consider HR during planning

A

One-way linkage

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15
Q

interdependence, so considers HR during strategic business planning

A

Two-way linkage

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16
Q

HRM built into strategy formulation and implementation processes

A

Integrative linkage

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17
Q

5 major components of Strategy Formulation
states organizations reason for being

A

mission

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18
Q

5 major components of Strategy Formulation
what organization hopes to achieve

A

goals

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19
Q

5 major components of Strategy Formulation
organizations operating environment

A

External analysis

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20
Q

5 major components of Strategy Formulation
Identifies organizations strengths and weaknesses

A

Internal analysis

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21
Q

5 major components of Strategy Formulation
the strategy ; describes the way organization will attempt to fulfill mission and achieve long-term goals

A

Strategic choice

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22
Q

5 Variables Contributing to success or failure
what tasks lead to goal achievement? (HRM task)

A

Organizational structure

23
Q

5 Variables Contributing to success or failure
who possesses necessary skills to do these tasks well (HRM task)

A

selection, training, and development of people

24
Q

5 Variables Contributing to success or failure
How will we motivate those people to perform these tasks well (HRM task)

A

Reward systems

25
Q

5 Variables Contributing to success or failure
information systems

A

types of informations

26
Q

a complex set of values, beliefs, assumptions, and symbols that define the way in which a firm conducts its business

A

Organizational culture

27
Q

A model that breaks up all of the different parts of the organization into a variety of capabilities

A

Value chain

28
Q

combination of people, systems, and processes that create value for customers

A

Capabilities

29
Q

occurs when HR practices and processes address strategic needs of the business

A

vertical alignment

30
Q
  1. Job analysis
    2.recruitment
  2. selection systems
  3. training and development
  4. performance management systems
  5. reward systems
  6. labor relations programs
A

How Hr implements strategy

31
Q

The 6 HRM Practices
1. Process to get detailed information about a job
Determines which tasks should be grouped into a particular job

A

Job analysis and Job design

32
Q

The 6 HRM Practices
2. Process of seeking applicant for potential employment
process to identify which applicant have the necessary KSAs and other characteristics to help organizations to achieve its goals

A

Recruitment and selection

33
Q

The 6 HRM Practices
3. Planned effort in which organizations facilitate employee learning of job-related knowledge, skills, and behavior
Employees acquire the knowledge, skills, and behaviors that improve their ability to meet challenges of jobs

A

Training and Development

34
Q

The 6 HRM Practices
4. Ensures employees activities and outcomes are congruent with the organizations objectives

A

Performance management

35
Q

The 6 HRM Practices
5. High pay and benefits relative to competitors can help company attract and retain high quality employees
Tying pay to performance can elicit specific activities and levels of performance from employees

A

Pay structure, incentives, and benefits

36
Q

The 6 HRM Practices
6. Critical decisions that affect short term and long term goal achievement or extinction

A

Labor and employee relations

37
Q

Competitive advantage from creating value in the production process

A

Porters cost and differentiation strategies

38
Q

created value by reducing costs, creates average return by barring competitors entering the market
1. Efficient large scale facilities
2. Capitalizing on experience curve

A

Overall cost leadership strategy

39
Q

value created by differentiating a product or service in order to charge a premium price

A

differentiation strategy

40
Q

Ensures that employees have required behaviors in role as job holder in social work environment

A

HR’s rol

41
Q

company defines the required skills and invest in training employees in these skills areas
- internal promotions
- internally consistent pay systems with high pay differentials between superiors and sub
- efficiency achieved through employee participation

A

Role of employees in overall cost leadership strategy

42
Q

employees are highly creative and cooperative
moderate concern for quantity

A

role of employees in differentation strategy

43
Q

4 directional (intended) strategies
Emphasize market share or operating costs
- increase market share/reduce cost
-maintain skills
- HRM: skill based training and fair compensation

A

Concentration

44
Q

4 directional (intended) strategies
Focus on market and product development, innovation, joint ventures
- Build on exisiting strengths

A

Internal Growth

45
Q

4 directional (intended) strategies
focus on vertical or horizontal integration
- buy what we need: expand resources or strengthen market position
- HRM: implement challenges of merging or acquiring another company

A

External growth

46
Q

4 directional (intended) strategies
Focus on retrenchment, divestitures, or liquidation
- trying to survive: serious economic difficulties so must pare down operations
- HRM: How to develop an ER of choice reputation and enage employees

A

Downsizing

47
Q

Tends to fall short of meeting financial and organizational objectives
- Negative effect on employee morale

A

Disadvantages of downsizing

48
Q

Can “get rid of dead wood”
-opportunity to change organizational culture
-HRM GOAL: manage process and demonstrate its value in contributing to ultimate success

A

Advantages of down sizing

49
Q
  1. Emergent Strategies
  2. Enhancing Competitiveness
A

2 ways HR provides a strategic competitive advantage

50
Q

HR facilitates communication throughout organization = evolve from grassroots (from bottom-up)

A

Emergent Strategies

51
Q

Develop human capital pool that allows the company to adapt to ever-changing environment

A

Enhancing competitiveness

52
Q

Enhancing competitiveness
a constant state of learning as employees continually expand their capacity to achieve desired results

A

Learning organization

53
Q
A

HRM Final (6 decks)

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