Midterm Flashcards
What is strategy?
Formulation of orgs mission, goals, objectives and action plans for how it will achieve goals
Diamond E model analysis
-Management preferences (are the managing effectively?)
-Organization (is org designed to support strategy?)
-Strategy
-Environment
-Resources
What is the 4/5 rule?
If the rate of a group passing the test is less than 4/5 (80%) than the test has an adverse impact on that group
With regards to a protected group, what should the selection process not do?
Not have an adverse impact at any step of the process unless employer can establish a BFOR
When are employees a competitive advantage?
VRIO model
Valuable- superior employees add value through performance
Rare - skills are in short supply
Imitability - superior employees are hard to imitate
Organizational support - well designed systems contribute to success
Porter competitive level strategies
-Cost leader (low cost provider)
- Differentiator (broad differentiation)
- Cost leader focus (focus on market niche based on low cost)
- Differentiator focus (focus on market niche based on differentiation)
- Best cost
Cost leader strategy
Lower costs below competition but still remain profitable while maintaining a reasonable level of quality
Sources for cost leader strategy
- economies of scale (the more you produce the lower unit cost)
- reduce labour costs
- automation
- demotivate unionization
- cheaper materials
- tight control on costs (inventory, energy, etc)
Differentiator strategy
Stand out in the market in some way that is unique and valuable to the customer. Allows a charge of premium prices, increased market share, retain customer loyalty
Best cost strategy
Offering a product or service at a lower cost while maintaining a high level of quality or upscale features
What is job analysis?
Process of gathearing info on all jobs in an org, organizing into a useable database where the info can be used for organizational and HR decisions
Uses of job analysis
- orientation of new employee
- work redesign
- recruiting and selection
- compensation
- training needs
- setting performance standards
- career planning
- establish BFOR
Collection methods for job analysis
- observation
- interviews
- questionnaires
- diary/ logs
- video taping
- electronic monitoring
- production reports
What is a competency?
KSAO, and behaviours, that identify a successful employee. Can be learned
Three types of competencies
Core: necessary for all jobs in an org
Functional: applicable to all jobs in a job family or group
Job: necessary for a specific job
What is necessary for a competency to be valid?
- can be used to compare superior employees to average employees
- based on actual job performance
- can be taught or developed
- linked to org goals
What is diamond E analysis used for?
To assess the effectiveness of an organizations strategy and whether the org has in place sufficient resources to carry out strategy
Can help indicate where problems are occurring and what might need to be changed
What are the effects of unionization on: base pay, profit sharing, job descriptions, flexibility in management, and work culture?
- base pay: will push for higher compensation
- profit sharing: will push away from profit sharing to more stable benefits
- job descriptions: push for more clarity and certainty
- flexibility in management: reduce flexibility
- work culture: due to tensions between management and union, unlikely to have a “family feeling” culture
