People: HR Strategy Flashcards
Quantifiable measures of performance used to gauge progress toward strategic objectives or agreed standards of performance.
Key performance indicators (KPIs)
Type of metric describing an activity or change in performance that has already occured.
Lagging indicator
Scanning process that searches for environmental forces in political, economic, social, technological, legal, and environmental categories.
PESTLE analysis
Process for understanding how seemingly independent units within a larger entity interact with and influence one another.
Systems thinking
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
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
Performance management tool that depicts an organization’s overall performance, as measured against goals, lagging indicators, and leading indicators.
Balanced scorecard
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
Structured conversations with employees for the purpose of determining which aspects of a job encourage employee retention or may be improved to do so.
Stay interviews
State in which an organization’s strategy is consistent with it external opportunities and circumstances and its internal structure, resources, and capabilities.
Strategic fit
Description of what an organization hopes to attain and accomplish in the future, which guides it toward that defined direction.
Vision statement
Actions, processes, or results that are needed to deliver a desired value.
Value drivers
System of actions that leaders take to drive an organization toward its goals and objectives.
Strategic management
Process of setting goals and designing a path toward a competitive position.
Strategic planning
Plan of action for accomplishing an organization’s overall and long-range goals.
Strategy
