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23 Cards in this Set
- Front
- Back
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A plan an organization follows for how to compete successfully, survive, and grow.
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Strategy
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The process of defining organizational strategy and allocating resources toward its achievement.
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Strategic Planning
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The core reason for the existence of the organization and what makes it unique.
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Organizational Mission
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Entails providing input into organizational strategic planning and appropriate use of HR management practices to gain competitive advantage.
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Strategic HR Management
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A corporation that has facilities and other assets in at least one country other than its home country.
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Multinational Corporation (MNC)
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The relocation of a business process or operation by a company from one country to another.
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Offshoring
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The process of analyzing and identifying the need for and availability of people so that the organization can meet its strategic objectives.
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Human Resource Planning
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Using information from the past and the present to identify expected future conditions.
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Forecasting
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Temporary payments made to laid-off employees to ease the financial burden of unemployment.
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Severance Benefits
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Transferring the management and performance of a business function to an external service provider.
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Outsourcing
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Nontraditional schedules that provide flexibility to employees.
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Alternate Work Arrangements
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A comprehensive assessment of all aspects of the business being acquired.
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Due Diligence
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The ability to produce a specific desired effect or result that can be measured.
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Effectiveness
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The degree to which operations are done in and economical manner.
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Efficiency
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Specific measures of HR performance indicators.
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HR Metrics
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An evidence-based approach to making HR decisions on the basis of quantitative tools and models.
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HR Analytics
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Comparing the business results to industry standards.
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Benchmarking
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A framework used to report a diverse set of performance measures.
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Balanced Scorecard
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Calculation showing the value of an investment.
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Return on Investment (ROI)
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Calculated by subtracting all operating expenses except for labor expenses from revenue and dividing by the total full-time head count.
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Human Capital Value Added (HCVA)
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Directly shows the operating profit derived from investments in human capital.
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Human Capital Return on Investment (HCROI)
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Wealth created per employee.
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Human Economic Value Added (HEVA)
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A formal research effort to assess the current state of HR practices.
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HR Audit
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