Chapter 2 Flashcards
(29 cards)
a plan that integrates the company’s goals, policies, and actions. Influences usage of physical / financial / human capital.
Business Strategy
a company that has an enhanced capacity to learn, adapt, and change.
learning organization
a statement of the company’s reason for existing.
mission
the picture of the future the company wants to achieve.
vision
what the company stands for.
values
what the company hopes to achieve in the long run.
goals
consists of an internal analysis of strengths and weaknesses as well as an external analysis of opportunities and threats.
SWOT Analysis
involves examining the operating environment to ID opportunities and threats.
External Analysis
attempts to ID the company’s strengths and weaknesses.
Internal Analysis
represents the strategy believed to be the best alternative to achieve the company goals.
Strategic Choice
are learning related actions that a company should take to help it achieve its business strategy.
- Diversify the learning portfolio
- Expand who is trained
- Accelerate the pace of employee learning
- Improve customer service
- Provide development opportunities and communicate with employees
- Capture and share knowledge
- Align training and development with the company’s direction.
- Ensure that the work environment supports learning and transfer of training.
Strategic Training and Development Initiatives
business level outcomes chosen to measure the overall value of TLD initiates.
Metrics
a means of performance measurement that provides managers with a chance to look at the overall company or department performance from the perspective of internal and external stakeholders.
Balanced Scorecard
refers to the company’s decisions regarding where to find employees and how to select them along with desired mixes of skills and statuses.
Staffing Strategy
refers to the extent to which employees are rare and specialized and not highly available in the labor market.
Uniqueness
refers to employee potential to improve company effectiveness and efficiency.
Strategic Value
includes ID, analysis, forecasting, and planning of changes needed in the HR area to help the company meet changing business conditions.
HR Planning
focuses on increasing market share, reducing costs, or creating and maintaining a market niche for products / services.
Concentration Strategy
focuses on new markets and product development, innovation, and joint ventures.
internal growth strategy
emphasizes acquiring vendors and suppliers or buying businesses that allows the company to expand into new markets.
external growth strategy
emphasizes liquidation and divestiture of businesses.
disinvestment strategy
means that TLD programs, resources, and professionals are primarily housed in one location and that decisions about training investment, programs, and delivery methods are made from that department.
centralized training
differs from other models in that the client group includes not only employees and managers, but also stakeholders outside the company (example: types of schools).
corporate university model
is characterized by 5 competencies:
- strategic direction
- product design
- structural versatility
- product delivery
- accountability for results
business embedded model
