Chapter 2 - Strategy and Human Resources Planning

Question 1

A measurement framework that helps managers translate strategic goals into operational objectives

Answer 1

Balanced Score Card (BSC)

Question 2

The process of measuring one’s OWN services and practices AGAINST the recognized leaders in order to identify areas for improvement

Answer 2

Benchmarking

Question 3

Integrated knowledge sets within an organization that DISTINGUISH it form its COMPETITORS and DELIVER VALUE to CUSTOMERS

(Strengths)

Answer 3

Core Capabilities

Question 4

The strong and enduring BELIEFS and PRINCIPLES that the company uses as a foundation for its decisions.

Answer 4

Core Values

Question 5

Audits of the culture and quality of WORK LIFE in an organization

Answer 5

Cultural Audits

Question 6

Systematic monitoring of the MAJOR EXTERNAL forces influencing the organization

(SWOT - THREATS)

Answer 6

Environmental Scanning

Question 7

The process of evaluating the availability of CRITICAL TALENT in a company and COMPARING it to the FIRM’S SUPPLY

(using other workers to put on other projects, but must assess if “ready”)

Answer 7

Human Capital Readiness

Question 8

(HRP)

The process of ANTICIPATING and providing for the movement of people into, within, and out of an organization

Answer 8

Human Resources Planning (HRP)

Question 9

(TYPE OF FORECAST)

The opinions (judgments) of supervisors, department managers, experts, or others knowledgeable about the organization’ future employment needs

Answer 9

Management Forecasts

Question 10

A METHOD FOR TRACKING the patter of employee movements through various jobs (Type of Analysis)

Answer 10

Markov Analysis

Question 11

The basic PURPOSE of the organization as well as its SCOPE of operations

Answer 11

Mission

Question 12

The capacity of the ORGANIZATION to act and change in pursuit of sustainable competitive advantage

(Type of Capability)

Answer 12

Organizational Capability

Question 13

A metric designed to measure how well NEW hires that FILL positions are performing on the JOB

Answer 13

Quality of Fill

Question 14

Listings of current jobholders and people who are potential replacements if an opening occurs.

Answer 14

Replacement Charts

Question 15

Files of personnel education, experience, interests, skills, and so on that allow managers to quickly match job opening with employee backgrounds

Answer 15

Skill Inventories

Question 16

Graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs and future (monthly or yearly) employment requirements.

Answer 16

Staffing Tables

Question 17

(Type of plan)

Procedures for making decisions about the organization’s long-term goals and strategies

Answer 17

Strategic Planning

Question 18

A statement about where the company is going and what it can be in the future; clarifies the long-term direction for the company and its strategic intent.

Answer 18

Strategic Vision

Question 19

The process of identifying, developing, and tracking key individuals for EXECUTIVE POSITIONS

Answer 19

Succession Planning

Question 20

A comparison of strengths, weakness, opportunities, and threats for strategy formulation purposes.

Answer 20

SWOT Analysis

Question 21

A quantitative approach to forecasting labor demand based on an organizational index such as sales

(Type of Analysis)

Answer 21

Trend Analysis

Question 22

What the firm ADDS to a product or a service by virtue of making it; the amount of benefits provided by the product or service once the costs of making it are subtracted (-COGS)

(TYPE OF BUSINESS STRATEGY)

Answer 22

Value Creation

Question 23

The process of outlining the behaviors that exemplify a firm’s corporate culture and then hiring people who are fit for them (fitting into corporate culture)

Answer 23

Values-Based Hiring

Question 24

Environmental Scanning

Answer 24

Systematic monitoring of the major EXTERNAL FORCES (economic factors, technology, government, industry, demographic and labor market trends, social concerns (such as the elderly)

(OPPORTUNITIES AND THREATS) - Strategic Management Process