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19 Cards in this Set

  • Front
  • Back
Business Plan
provides a comprehensive view of the firm's situation today and of its company-wide departmental goals and plans for the next 3 to 5 years
MBO (Management by Objectives)
a technique in which supervisor and subordinate jointly set goals for the latter and periodically assess progress toward these goals
strategic plan
plan for how the company will match its internal strengths and weaknesses with external opportunities and threats in order to maintain competitive advantage
course of action the company can pursue to achieve its strategic aim
strategic management
the process of identifying and executing the organizations strategic plan, by matching the company capabilities with the demands of its environment
vision statement
general statement of the firms intended directions; shows in broad terms what "we want to become"
mission statement
summarizes the answer to the question what business are you guys in?
corporate level strategy
strategy that identifies the portfolio of businesses that comprise the organization as a whole and the ways in which these businesses relate to each other
competitive strategy
identifies how to build and strengthen the business's long-term competitive position in the market
functional strategy
identifies the activities that each department will pursue in order to help the business accomplish its competitive strategy
exporting jobs from developed countries to low-cost labor countries
strategic human resource management
formulating and executing human resource policies and practices that facilitate the employee competencies and behaviors the company needs to achieve its strategic aims
strategy map
tool that shows the big picture of how each department's performance contributes to achieving the company's overall strategic goals
hr scorecard
assigning financial and non-financial metrics to HRM-related activities required for achieving the company's strategic aim and for monitoring results
digital dashboard
presents the line-manager with metrics of the HR related activites of his or her own department (sick-days, performance, etc.)
high-performance work systems
hrm policies and practices that promote and facilitate organizational efficiency
hr metrics
quantitative measure of some human resource management yardstick such as employee turnover, hours of training per employee or qualified applicants per position
value chain
identifies the primary activities that create value for customers and related support
hr audit
analysis by which an organization measures where it currently stands and determines what it has to accomplish to improve its HR function