Chapter 2 Flashcards
Strategic Planning
Procedures for making decisions about the organization’s long-term goals and strategies.
Human Resources Planning (HRP)
The process of anticipating and providing for the movement of people into, within, and out of an organization.
Strategic Human Resources Management
The pattern of human resources deployments and activities that enable an organization to achieve its strategic goals.
Mission
The basic purpose of the organization as well as its scope of operations.
Strategic Vission
A statement about where the company is going and what it can become in the future; clarifies the long-term direction of the company and its strategic intent.
Core Values
The strong and enduring beliefs and principles that the company uses as a foundation for its decisions.
Environmental Scanning
Systematic monitoring of the major external forces influencing the organization
Business Environment
External factors in the general environment that a firm cannot directly control but that can affect its strategy.
Remote Environment
Forces that generally affect most, if not all firms, such as the economy and technological, demographic, and legal and regulatory changes.
Competitive Environment
Consists of a firm’s specific industry, including the industry’s customers, rival firms new entrants, substitutes and suppliers.
Core Capabilities
Integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to customers.
Value Creation
What the firm adds to a product or service by virtue of making it; the amount of benefits provided by the product or service once the costs of making it are subtracted.
Cultural Audits
Audits of the culture and quality of work life in an organization.
Values-Based Hiring
The process of outlining the behaviors that exemplify a firm’s corporate culture and then hiring people who are a fit for them.
Trend Analysis
A quantitative approach to forecasting labor demand based on an organizational index such as sales.
