Chapter 2 - Strategy and Human Resources Planning Flashcards
A measurement framework that helps managers translate strategic goals into operational objectives
Balanced Score Card (BSC)
The process of measuring one’s OWN services and practices AGAINST the recognized leaders in order to identify areas for improvement
Benchmarking
Integrated knowledge sets within an organization that DISTINGUISH it form its COMPETITORS and DELIVER VALUE to CUSTOMERS
(Strengths)
Core Capabilities
The strong and enduring BELIEFS and PRINCIPLES that the company uses as a foundation for its decisions.
Core Values
Audits of the culture and quality of WORK LIFE in an organization
Cultural Audits
Systematic monitoring of the MAJOR EXTERNAL forces influencing the organization
(SWOT - THREATS)
Environmental Scanning
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”)
Human Capital Readiness
(HRP)
The process of ANTICIPATING and providing for the movement of people into, within, and out of an organization
Human Resources Planning (HRP)
(TYPE OF FORECAST)
The opinions (judgments) of supervisors, department managers, experts, or others knowledgeable about the organization’ future employment needs
Management Forecasts
A METHOD FOR TRACKING the patter of employee movements through various jobs (Type of Analysis)
Markov Analysis
The basic PURPOSE of the organization as well as its SCOPE of operations
Mission
The capacity of the ORGANIZATION to act and change in pursuit of sustainable competitive advantage
(Type of Capability)
Organizational Capability
A metric designed to measure how well NEW hires that FILL positions are performing on the JOB
Quality of Fill
Listings of current jobholders and people who are potential replacements if an opening occurs.
Replacement Charts
Files of personnel education, experience, interests, skills, and so on that allow managers to quickly match job opening with employee backgrounds
Skill Inventories
Graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs and future (monthly or yearly) employment requirements.
Staffing Tables
(Type of plan)
Procedures for making decisions about the organization’s long-term goals and strategies
Strategic Planning
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.
Strategic Vision
The process of identifying, developing, and tracking key individuals for EXECUTIVE POSITIONS
Succession Planning
A comparison of strengths, weakness, opportunities, and threats for strategy formulation purposes.
SWOT Analysis
A quantitative approach to forecasting labor demand based on an organizational index such as sales
(Type of Analysis)
Trend Analysis
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)
Value Creation
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)
Values-Based Hiring
Environmental Scanning
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
