HRM MODULE 2 Flashcards
can be viewed as a set of coordinated choices and actions.
STRATEGY
two types of strategy
COMPETITIVE BUSINES STARTEGY AND HUMAN RESOURCE STRATEGY
focuses on choices and actions about how to serve the needs of customers
COMPETITIVE BUSINESS STRATEGY
focuses on choice and actions concerning the management of people within the organization
HUMAN RESOURCE STRATEGY
3 STEPS OF STARTEGY FORMULATION PROCESS
- GATHER INFORMATION
- ANALYZE INFORMATION AND MAKE DECISION
- IMPLEMENT THE DECISION
when scanning its external and internal environment, what method to look at
SWOT
strategy formation begins with information gathering?
true
4 steps of effective decision making
- BUILD COLLECTIVE INTUITION
- STIMULATE CONFLICT
- MAINTAIN APPROPRIATE PACE
- DIFFUSE POLITICS
what are the two strategies pursued at the business level?
COST LEADERSHIP STRATEGY AND DIFFERENTIATION STRATEGIES
seek to become low-cost producers of goods and services. their goal is to develop efficient production methods that enable them to sell at a lower price than competitors.
COST LEADERSHIP STRATEGY
seek to produce goods and services that are somehow superior to the goods and services provided by competitors. their goal is to create unique value for which customers are willing to pay a higher price.
DIFFERENTIATION STRATEGY
what are the two basic approaches to human resource strategy?
UNIVERSALISTIC APPROACH AND CONTINGENCY APPROACH
seek to identify a set of human resource practices that is beneficial for all organizations.
UNIVERSALISTICS APPROACH
it also helps ensure that employees have the training and freedom to pursue important job tasks.
UNIVERSALISTICS APPROACH
seek to align human resource practices with competitive business strategies,
CONTINGENCY APPROACH
this approach focuses on cost leadership versus in differentiation
CONTINGENCY APPROACH
internal labor orientation seeks long-term relationships with employees, while organizations with an external labor orientation seek flexibility and do not make long-term commitments to employees.
CONTINGENCY APPROACH
START HR differences
emphasis on group contribution
cost strat
focus on improving processes
cost start
development of general employee skills
cost strat
cooperation among employees
cost strat
efficiency culture
cost strat
clearly prescribed tasks
cost strat
rules and procedures that standarize work
cost strat