HR People Flashcards
Define benchmarking
Process by which an organization identifies performance gaps and sets goals for performance improvement by comparing its data, performance levels, and/or processes against those of other organizations.
What is a lagging indicator?
Type of metric describing an activity or change in performance that has already occurred.
What is SWOT Analysis?
Method for assessment of an organization’s strategic capabilities through use of the environmental scanning process, by which internal and external factors affecting achievement of organizational goals are identified and considered. Strengths, Weakness, Opportunities and Treats.
What is strategic planning?
Process of setting goals and designing a path toward a competitive position.
What is a leading indicator?
Type of metric describing an activity that can change future performance and predict success in the achievement of strategic goals.
What is system thinking?
Process for understanding how seemingly independent units within a larger entity interact with and influence one another.
What is PESTLE Analysis?
Scanning process that searches for environmental forces in political, economic, social, technological, legal, and environmental categories.
What is a mission statement?
Concise outline of an organization’s strategy, specifying the activities the organization intends to pursue and the course its management has charted for the future.
What is a strategy?
Plan of action for accomplishing an organization’s overall and long-range goals.
What is strategic management?
System of actions that leaders take to drive an organization toward its goals and objectives.
What is strategic fit?
State in which an organization’s strategy is consistent with its external opportunities and circumstances and its internal structure, resources, and capabilities.
What is balanced scorecard?
Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators, and leading indicators.
What are value drivers?
Actions, processes, or results that are needed to deliver a desired value.
What is organizational values?
Beliefs and principles defined by an organization to direct and govern its employees’ behavior.
Define Vision Statement
Description of what an organization hopes to attain and accomplish in the future, which guides it toward that defined direction.
What is compensation?
All financial returns (beyond any tangible benefits payments or services), including salary and allowances.
What is environmental scanning?
Process that involves a systematic survey and interpretation of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization in the future.
What three generic strategies for success are identified in Michael Porter’s model?
Cost leadership, differentiation, focus
What is recruitment?
Process by which an organization seeks out candidates and encourages them to apply for job openings.
What is orientation?
Process by which new employees become familiar with the organization and with their specific department, coworkers, and job.
What is a job description?
Document that describes a job and its essential functions and requirements (including tasks, knowledge, skills, abilities, responsibilities, and reporting structure).
What is selection screening?
Analyzing candidates’ application forms, curricula vitae, and resumes to locate the most-qualified candidates for an open job.
What is headcount?
Number of people on an organization’s payroll at a particular moment in time.
What is sourcing for an organization?
Process by which an organization generates a pool of qualified job applicants.