Human Resource Strategy and Planning Flashcards
strategy
A plan an organization follows for how to compete successfully, survive, and grow.
Strategic planning
The process of defining organizational strategy and allocating resources toward it achievement.
Organizational mission
The core reason for the existence of the organization and what makes it unique.
Strategic HR management
Entails providing input into organizational strategic planning and appropriate use of HR management practices to gain competitive advantage.
Multinational corporation (MNC)
A corporation that has facilities and other assets in at least one country other than its home country.
Offshoring
The relocation of a business process or operation by a company from one country to another.
Human resource planning
The process of analyzing and identifying the need for availability of people so that the organization can meet its strategic objectives.
Environmental scanning
The assessment of external and internal environmental conditions that affect the organization.
Succession planning
The process of identifying a plan for the orderly replacement of key employees.
Forecasting
Using information form the past and the present to identify expected future conditions.
Severance benefits
Temporary payments made to laid-off employees to ease the financial burden of unemployment.
outsourcing
Transferring the management and performance of a business function to an external service provider.
Alternate work arragements
Nontraditional schedules the provide flexibility to employees.
Due diligence
A comprehensive assessment of all aspects of the business being acquired.
Effectiveness
The ability to produce a specific desired effect or result that can be measured.
