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CHRP - Labour Relations > HR Planning - Definitions > Flashcards

HR Planning - Definitions Flashcards

1
Q

Emergent Strategy

A

Subtly redirecting strategy to respond to changes in the business environment

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2
Q

Turnaround Strategy

A

An attempt to increase the validity of an organization by making an organization profitable again

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3
Q

Divestuture

A

The sale of a division or part of an organization

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4
Q

Liquidation

A

The termination of a business and sale of its assets

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5
Q

Incremental Growth

A

Involves expanding the product base, distribution networks or new technology

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6
Q

International Growth

A

Involves seeking new customers or markets by expanding internationally

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7
Q

Mission Statement

A

An articulation of the purpose of the organization and the value it creates for the customer

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8
Q

Vision Statement

A

A clear and compelling goal that unites an organization’s efforts

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9
Q

Values

A

The basic beliefs that govern individual and group behaviour

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10
Q

Hard Goals

A

Include a measurable way to assess the goal

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11
Q

Soft Goals

A

Define targets for the social conduct of the business

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12
Q

Competitive Advantage

A

The characteristics of a firm that enable it to earn higher rates of profit than its competitor

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13
Q

Core Competencies

A

Resources and capabilities that serve as a firm’s competitive advantage

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14
Q

Dynamic Capabilities

A

The ability to adapt and renew competencies in accordance with the changing business environment

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15
Q

Value Proposition

A

A statement of the fundamental benefits of the products or services being offered in the marketplace

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16
Q

Overreaching HR philosophies

A

Philosophy that specify the values that inform an organization’s policies and practices

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17
Q

Formal HR Policies

A

Policies that direct and partially constrain the development of specific practices

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18
Q

Strategic HRM

A

The interrelated philosophies, policies and practices that facilitate the attainment of the organizational strategy

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19
Q

Human Capital Theory

A

The human capital of an organization is a resource that requires investment

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20
Q

Environmental Scanning

A

The systematic monitoring of the major factors influencing the organization to identify trends that might affect the formulation and implementation of both organizations and HR strategies

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21
Q

Stakeholders

A

Groups of people who have an interest in the projects, policies or outcomes of an organization’s decisions

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22
Q

Outsourcing

A

A contractual relationship for the provision of business services by an external provider. In HR it means transferring high volume transactional work from the HR department to an outside contractor (Human Resources Offshoring)

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23
Q

Downsizing Strategy

A

A strategy to improve an organization’s efficiency by reducing workforce, redesigning the work, or changing the systems of the organization

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24
Q

Survivors (of Downsizing)

A

Employees remaining with an organization after downsizing

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25
Q

Downsizing

A

Activities undertaken to improve the organizational efficiency, productivity, and/or competitiveness that affect the size of the workforce, its costs, and its work processes

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26
Q

Workforce Reduction

A

Cutting the number of employees through programs such as attrition, early retirement or voluntary severance packages, layoffs and terminations

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27
Q

Work Redesign

A

Organizations focus on work processes and asses whether specific functions, products and/or services should be changed or eliminated

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28
Q

Systematic Change

A

Changing the organization’s culture, attitudes, and employee values with the goal of reducing costs and enriching quality

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29
Q

Portfolio Restucturing

A

Changes to the organizations business portfolio

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30
Q

Financial Restructuring

A

The financial changes to an organization, like reducing cash flows or increasing debt levels

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31
Q

Organizational Restructuring

A

A reconfiguration of an organization’s administrative structure associated with an intentional management change

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32
Q

Outplacement

A

Providing a program of counselling and job search assistance for workers who have been terminated.

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33
Q

Inplacement

A

Reabsorbing excess or inappropriately placed workers into a restructured organization

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34
Q

Procedural Justice (Downsizing)

A

The procedures or rules used to determine which employees were downsized, and which stayed

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35
Q

Interactional Justice (Downsizing)

A

The type of interpersonal treatment employees receive during the implementation of the downsizing decision

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36
Q

Distributive Justice (Downsizing)

A

The fairness of the downsizing decision

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37
Q

Serial Downsizer

A

When there are 2+ downsizes in a 5 year period

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38
Q

Rightsizing

A

Establishing a shared vision of the organization and a clearly stated strategy supported by management, understood by employees, and involving a new sense of ownership by members of the firm

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39
Q

Strategic International HR Planning

A

Projecting global competence supply, forecasting global competence needs, and developing a blueprint to establish global competence pools within companies.

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40
Q

Strategic International Human Resources Management (SIHRM)

A

Human resources management issues, functions, policies, and practices that result from the strategic activities of multinational enterprises and that affect the international concerns and goals of those enterprises

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41
Q

Domestic Strategy

A

Internationalizing by exporting goods abroad as a means of seeking new markets

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42
Q

Multi-domestic Strategy

A

A strategy that concentrates on the development of foreign markets by selling to foreign nationals

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43
Q

Multinational Strategy

A

Standardizing the products and services around the world to gain efficiency due to other MNC entering the same market

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44
Q

Exportive IHRM Approach

A

Transferring home HRM systems to foreign subsidiaries without modifying or adapting to the local environment

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45
Q

Integrative IHRM Approach

A

Combining home HR practices with local practices and selecting the most qualified people for the appropriate positions no matter where these candidates come from

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46
Q

Frequent Flyers

A

Employees who make frequent trips to the Host Country (HC)

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47
Q

International Commuters

A

Employeers who work in the Host Country (HC), but live in the home country

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48
Q

Short-Term Assignment

A

When an employees lives in the Host Country (HC) for less than a year, and may or may not bring their family with them for the assignment

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49
Q

Permanent Transfer

A

Where the employee is permanently moved to the Host Country (HC)

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50
Q

Host Country National (HCN)

A

Individuals from the subsidiary country who know the foreign cultural environment well

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51
Q

Parent Country Nationals (PCN)

A

Individuals from headquarters who are highly familiar with the firm’s products and services, as well as with its corporate culture

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52
Q

Third-Country Nationals (TCN)

A

Individuals from a third country who have intensive international experience and know the corporate culture from previous working experience with corporate branches in a third country

53
Q

Self-Maintenance Competency: (Cross Cultural Competencies)

A

The capability to substitute sources of reinforcement when necessary and deal with alienation and isolation

54
Q

Relationship Competencies (Cross Cultural Competencies)

A

The capability to develop and maintain relationships with home-country nationals (HCNs)

55
Q

Perceptual Competencies (Cross Cultural Competencies)

A

The capacity to understand why foreigners behave the way they do, to make correct attributions about the reasons or causes of HCNs’ behaviour, and to correct those attributions when they prove incorrect

56
Q

Repatriation

A

The process of PCNs, TCNs, or even HCNs returning to their home headquarters or home subsidiaries

57
Q

Merger

A

The consolidation of two organizations into a single organization.8 There are three categories of mergers

58
Q

Horizontal Merger

A

The merging of two competitors, which combine to increase market power

59
Q

Vertical Merger

A

When a buyer and a seller (or supplier) merge to achieve the synergies of controlling all factors affecting a company’s success, from the production of raw goods to manufacturing to distribution and retail sales

60
Q

Conglomerate Merger

A

When one company merges with another but the two companies have no competitive or buyer–seller relationship

61
Q

Consolidation

A

When two or more companies join together and form an entirely new company

62
Q

Takeover

A

When one company seeks to acquire another company—usually a hostile transaction (but can mean a friendly merger as well) . A hostile takeover involves acquisition of a company against the wishes of its management

63
Q

Vertical Integration (Merger)

A

The merger or acquisition of two organizations that have a buyer–seller relationship

64
Q

Horizontal Integration (Merger)

A

The merger or acquisition of rivals

65
Q

Friendly Merger

A

Management of one company contacts another and the BOD are informed and approve the merger

66
Q

Hostile Takeover

A

A dramatic and complex process. Involves the targeted company pushing for “poison pills” and seeking “white knights”

67
Q

Poison Pill (Merger)

A

The right of key players to purchase shares in the company at a discount—around 50 percent—that makes the takeover extremely expensive

68
Q

White Knight (Merger)

A

Buyers who will be more acceptable to the targeted company

69
Q

Pac-Man Scenario (Merger)

A

Where the targeted firm makes a counteroffer for the bidding firm

70
Q

Cultural Pluralism (M&A Culture)

A

The two company’s cultures co-exist

71
Q

Cultural Integration (M&A Culture)

A

The two company’s blend cultures together

72
Q

Cultural Assimilation (M&A Culture)

A

One company culture absorbs the other

73
Q

Cultural Transformation (M&A Culture)

A

The partner companies abandon key elements of their current cultures and adapt new norms

74
Q

Due Diligence

A

A process through which a potential acquirer evaluates a target firm for acquisition. HR has a role to evaluate compensation data

75
Q

HR Forecasting

A

The process of ascertaining the net requirement for human capital by determining the demand for and supply of human resources now and in the future

76
Q

HR Gaps

A

A shortage of human capital such that the organization is unable to meet its current or forecasted human capital requirement

77
Q

HR Surpluses

A

A situation in which the organization has more human capital than it requires in order to meet its current or forecasted human capital requirement

78
Q

HR Demand

A

The organizations projected requirements for human capital

79
Q

HR Supply

A

The source of human capital to meet demand requirements, obtained either internally or externally

80
Q

Generic Human Capital

A

The knowledge, skills, and abilities that are held by employees and that are useful to the firm. It is called generic human capital because these types of skills are of equal value to most any company, and so this value can be priced in the labour market

81
Q

Firm-Specific Human Capital

A

The skills that employees have based on their tacit knowledge and learned from experience in the firm and through mentorship

82
Q

Human Capital Stock

A

The amount of human capital within the firm at any given time

83
Q

Human Capital Flow

A

How human capital stock changes over time

84
Q

Demand Forecasting

A

The process of determining the organization’s requirement for specific forms of human capital

85
Q

Supply Forecasting

A

The process of determining the organization’s requirement for specific forms of human capital

86
Q

Envelope (HR Forecasting)

A

Projections or multiple-predictor estimates, of future demand for personnel predicated on a variety of deferring assumptions about how future organizational events will unfold

87
Q

Employee Segments

A

The grouping of employees based on characteristics that are relevant to the employee experience such as career preferences, demographics, work–life preferences, or benefit

88
Q

Skills Gap

A

A situation in which the supply of a particular form of human capital available to the firm is inadequate to address the demand

89
Q

Skills Inventory

A

An individualized personnel record held on each employee except those currently in management or professional position

90
Q

Management Inventories

A

An individualized personnel record for managerial, professional, or technical personnel that includes all elements in the skills inventory with the addition of information on specialized duties, responsibilities, and accountabilities

91
Q

Markov Model

A

A model that determines the pattern of employee movement using a set of mutually exclusive states for movement into or out of a particular job. It produces a series of matrices that detail the various patterns of movement to and from the wide variety of jobs in the organization.

92
Q

Transitional Probabilities

A

The likelihood that an individual in a specific job will be promoted, terminated, moved laterally, be demoted, or stay in the job, normally one year into the future

93
Q

Linear Programming (HR Supply)

A

Determines an optimum or best-supply mix solution to minimize costs or other constraints (such as staffing ratios)

94
Q

Movement Analysis

A

A technique used to analyze the chain or ripple effect that promotions or job losses have on the movements of employees

95
Q

Bullwhip Effect

A

When errors in estimating the supply of human capital are amplified along the supply chain, resulting in large overestimates of hiring needs

96
Q

Vacancy Model

A

Analyzes the flows of employees throughout the organization by examining inputs and outputs at each hierarchical or compensation level

97
Q

HRIS

A

A comprehensive across-the-board software system for HRM that includes subsystems or modules

98
Q

Enterprise Resource Planning (ERP)

A

Commercial software systems that automate and integrate many or most of a firm’s business processes

99
Q

HR Metrics

A

Summary measures of HR outcomes that are relevant to the performance of the HR function

100
Q

HR Dashboard

A

Summary measures of HR outcomes that are relevant to the performance of the HR function

101
Q

Key Performance Indicators

A

A snapshot measure of system performance that demonstrates the success of strategy implementation in terms of cost, quality, or time

102
Q

Succession Management

A

The systematic process of determining critical roles with the organization, identifying and evaluating possible successors, and developing them for these roles. The first priority of any succession management program is to have a plan to replace its leaders

103
Q

Replacement Planning

A

The process of identifying short-term and long-term emergency backups to fill critical positions

104
Q

Promotion

A

An employee’s upward advancement in the hierarchy of an organization

105
Q

Job Rotation

A

A process whereby an employee’s upward advancement in the hierarchy of an organization is achieved by lateral as well as vertical moves

106
Q

Open System (Organizational Change)

A

A system that receives inputs from its external environment

107
Q

Single-Loop Learning (Organizational Change)

A

The attempt to solve a problem using a single strategy, without examining the validity of the problem itself

108
Q

Double-Loop Learning (Organizational Change)

A

A method of learning that involves questioning current assumptions, examining a problem from different perspectives, and questioning the validity of the problem

109
Q

The Planned Model of Change (Organizational Change)

A

Change that comprises four elements in total:

  • Field theory
  • Group dynamics
  • Action research
  • The three-step model
110
Q

Field Theory (Planned Model of Change)

A

An approach to understanding and changing individual or group perceptions and behaviours by seeking to understand the interdependent forces that act on individuals or groups and that motivate them toward certain courses of action and restrain them from others

111
Q

Action Research (Planned Model of Change)

A

An iterative trial-and-error process of discovery that involves:

  • Diagnosing a problem
  • Planning a solution
  • Acting on the solution
  • Evaluating the results of the actions
  • Learning from the outcomes
112
Q

Three-Step Model (Planned Model of Change)

A
  1. Unfreezing
  2. Moving
  3. Refreezing
113
Q

Unfreezing (Three-Step Model)

A

As the initial stage of organizational change, unfreezing involves the development of a shared understanding among stakeholders that a particular change is necessary

114
Q

Moving (Three-Step Model)

A

As the second stage of a change process, the moving stage involves the trial-and-error process of taking action to move the firm through the intended change

115
Q

Refreezing (Three-Step Model)

A

The third and final stage of a change initiative, refreezing involves putting policies, practices, and structures in place to establish new norms around the change

116
Q

Chaos Theory

A

Complex systems are based on some form of order but can behave in unpredictable ways. The unpredictability of these systems results from the many interactions of the system variables and the consequences of differences in the initial states of those variables

117
Q

Organizational Learning

A

An approach to learning that applies double-loop learning and an attempt to understand how the entire system may be affected by change. Organizational learning allows knowledge from any individual in the organization to become incorporated into the firm’s culture and processes

118
Q

Personal Mastery (Organizational Learning)

A

The understanding of one’s purpose and the development of a personal vision

119
Q

Mental Models (Organizational Learning)

A

An internal representation of the way things work. Mental models influence the causal attributions that we make

120
Q

Team Leading (Organizational Learning)

A

The interaction of individual ideas and efforts toward a team objective that results in outcomes that exceed the capabilities of any individual on the team

121
Q

Systems Thinking (Organizational Leardning)

A

Systems thinking views change issues within the framework of the entire organization. This view helps to understand the underlying causes of problems and the potential outcomes of change initiatives

122
Q

Workforce Analytics

A

How HR metrics, such as turnover and employee engagement, are used to describe the workforce

123
Q

HR Analytics

A

An evidence-based approach for making better decisions about employees and HR policies, using a variety of tools to report HR metrics and to predict outcomes of HR programs

124
Q

Business Strategy

A

Plans to build a competitive focus on one line of the business

125
Q

HR Forecasting

A

Ascertaining the net requirement for personnel by determining the demand for, and the supply of human resources, both now and in the future

126
Q

Transaction-Based Forecasting

A

Ascertaining the net requirement for personnel by determining the demand for, and the supply of human resources, both now and in the future

127
Q

Event-Based Forecasting

A

Forecasting that is concerned with changes in the external environment.

128
Q

Process-based Forecasting

A

Focuses on the processes used that impact the flow of work

CHRP - Labour Relations (9 decks)

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