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HRM - Chapter 2

Vocabulary / key term - By Ian McGonigal

Strategic planning Procedures for making decisions about the organization's long-term goals and strategies.
Human resources planning The process of anticipating and providing for the movement of people into, within, and out of an organization.
Strategic human resources management The pattern of human resources deployments and activities that enable and organization to achieve it strategic goals.
Mission The basic purpose of the organization as well as it's scope of operations
Strategic vision A statement about where the company is going and what it can begome in the future; clarifies the longterm direction of the company and its strategic intent.
Core values The strong and enduring beliefs and principles that the company uses as a foundation for its decision.
Enviromental scannin Systematic monitoring of the major external forces influencing the organization.
Cultural audits Audits of the culture and quality of work life in an organization.
Core competencies Intergrated knowledge sets within an organization that distinguish it from its competitors and delvier value to customers.
Trend analysis A quantitive approach to forecasting labor demand based on an organizational index such as sales.
Management forecasts The opinions (jusdgements) of supervisors, department managers, experts, or other knowledgeable about the organization's future employment needs.
Staffing tables Graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs and future employment requirements.
Markov analysis A method for tracking the pattern of employee movements through various jobs.
Skill inventories Files of personnel educatio, experience, interests, skills, and so on that allow managers to quickly match job openings with employee backgrounds.
Replacement charts Listings of current hob holders and people who are potential replacements in an opening occurs.
Succession planning The process of identifying, developing, and tracking key individuals for executive positions.
SWOT analysis A comparison of strengths, weaknesses, opportunities, and threats for strategy formulation purposes.
Value creation What the firm adds to product or service by virtue of making it; the amount of benifits provided by the product or service once the costs of making it are subtracted.
Benchmarking The process of comparing the organization's processes and practices with those of other companies
Balanced scorecard A measurement framework that helps managers translate strategic goals into operational objectives.
Organizational capability The capacity of the organization to act and change in pursuit of sustainable competitive advantage.
Five forces framework Suppliers, new entrants, customers, substitutes, rival firms.
Organizations can acheive competitive advantage through people if they mee these criteria The resources must be valuable, rare, difficult to imitate, organizaed.
The 7-S model Structure, system, shared values, style, staff, skills, strategy.
Created by: maunderingcabal
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