Exam 1 - Chapter 1 Flashcards
Competitive Advantage
People as a source of competitive advantage
If people are your source of competitive advantage, then what do you need to do?
You need to invest in them
_____ can be defined as a specific combination of HR practices, work structures, and processes that maximizes employee knowledge, skill, commitment, and flexibility.
HPWS (High Performance Work System)
HPWS
can be defined as a specific combination of HR practices, work structures, and processes that maximizes employee knowledge, skill, commitment, and flexibility.
“Management by measurement” system—
ensuring all functional business units subscribe to guidelines for sound, strategic measurement
“Management by measurement” system—
What are the criteria to measure? (5)
- performance (e.g., 2. individual, team, unit)
- quantity, quality
- Timeliness
- Error rate
- productivity
What are the four layers of Diversity
- Personality
- Internal Dimensions
- External Dimensions
- Organizational Dimensions
What are the 3 Specific Diversity Initiatives
- Accountability Practices
- Development Practices
- Recruitment Practices
• Sustainable competitive advantage (VRIO)
◦ Valuable:
◦ Rare: Knowledge, skills, and abilities (KSAs)
◦ Inimitable: Difficult to copy
◦ Organized: teamwork and cooperation
What are the 3 things in Rare:
Knowledge, skills, and abilities (KSAs)
Inimitable:
Difficult to copy
Organized:
teamwork and cooperation
Horizontal fit is also called
internal fit
Vertical first is also called
external fit
What are the 4 things included in Horizontal Fit?
- Supporting Technology
- Workflow Design
- Leadership practices
- HRM Practices
