People: HR Strategic Planning Flashcards
Method for assessment of an organization’s strategic capabilities through use of the environmental scanning process, by which internal and external factors affecting achievement of organizational goals are identified and considered.
SWOT analysis
All financial returns (beyond any tangible benefits payments or services), including salary and allowances.
Compensation
System of actions that leaders take to drive an organization toward its goals and objectives.
Strategic management
Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators, and leading indicators.
Balanced scorecard
Concise outline of an organization’s strategy, specifying the activities the organization intends to pursue and the course its management has charted for the future.
*i.e. priorities
Mission statement
Process by which an organization identifies performance gaps and sets goals for performance improvement by comparing its data, performance levels, and/or processes against those of other organizations.
Benchmarking
Actions, processes, or results that are needed to deliver a desired value.
Value drivers
Process of setting goals and designing a path toward a competitive position.
Strategic planning
Process that involves a systematic survey and interpretation of relevant data to identify external opportunities and threats and to assess how these factors affect the organization currently and how they are likely to affect the organization in the future.
Environmental scanning
State in which an organization’s strategy is consistent with its external opportunities and circumstances and its internal structure, resources, and capabilities.
Strategic fit
Plan of action for accomplishing an organization’s overall and long-range goals.
Strategy
Process for understanding how seemingly independent units within a larger entity interact with and influence one another.
Systems thinking
Scanning process that searches for environmental forces in political, economic, social, technological, legal, and environmental categories.
PESTLE analysis
Description of what an organization hopes to attain and accomplish in the future, which guides it toward that defined direction.
Vision statement
*The purpose is to inspire and motivate. It can be aspirational.
Type of metric describing an activity that can change future performance and predict success in the achievement of strategic goals.
Leading indicator
