page 1 (chapter 1) Flashcards
what is an organization
people with formally assigned roles that work together to achieve the organization’s goals
what is human resources
people who make up the workforce of an organization
what is the management process
5 functions of an organization; controlling, leading, organizing, planning, staffing
what is human resource management
the management of employees in an organization to drive successful organizational performance
what is a strategic function consist of
strategic plan and strategic management
what is a strategic plan
match internal strength/weakness with external opportunities to maintain a comparative advantage
what is strategic management
identifying and executing organizations strategic plan by matching companies strengths/weaknesses with demands of its enviorments
what is human capital
skills that employees can bring to a company, such as knowledge, education, training, skills, expertise of an organization
operational function
administrative day to day operations
example of operational function
paying employees, tracking vacation days, tracking clocking in and out
what strategic function
align employee efforts with organizations strategic goals
strategic goals
specific results an organization aims to achieve in order to maintain a competitive advantage
example of strategic goals
increase revenue
improve customer satisfaction
increase environmentally sustainable practices
improve employee retention
what is employee retention
ability of an organization to keep its employers
what is organization culture/corporate culture
firms core beliefs/values
developed intentionally through HR systems
identity of the organization
