Strategy and Human Resource planning (chapter 2)

Question 1

Core capabilities

Answer 1

Integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to customers

Question 2

Organizational capability

Answer 2

The capacity of the organization to act and change in pursuit of sustainable competitive advantage

Question 3

Staffing tables

Answer 3

Graphic representations of all organizational jobs, along with the numbers of employees currently occupying those jobs and future (monthly or yearly) employment requirements

Question 4

Balanced Scorecard

Answer 4

A measurement framework that helps managers translate strategic goals into operational objectives

Question 5

benchmarking

Answer 5

The process of measuring one’s own services and practices against the recognized leaders in order to identify areas for improvement

Question 6

strategic planning

Answer 6

Procedures for making decisions about the organization’s long-term goals and strategies

Question 7

strategic human resources management

Answer 7

The pattern of human resources deployments and activities that enable an organization to achieve its strategic goals

Question 8

trend analysis

Answer 8

A quantitative approach to forecasting labor demand based on an organizational index such as sales

Question 9

values-based hiring

Answer 9

The process of outlining the behaviors that exemplify a firm’s corporate culture and then hiring people who are a fit for them

Question 10

business environment

Answer 10

External factors in the general environment that a firm cannot directly control but that can affect its strategy

Question 11

remote environment

Answer 11

Forces that generally affect most, if not all, firms, such as the economy and technological, demographic, and legal and regulatory changes

Question 12

value creation

Answer 12

What the firm adds to a product or service by virtue of making it; the amount of benefits provided by the product or service once the costs of making it are subtracted

Question 13

human capital readiness

Answer 13

The process of evaluating the availability of critical talent in a company and comparing it to the firm’s supply

Question 14

replacement charts

Answer 14

Listings of current jobholders and people who are potential replacements if an opening occurs

Question 15

skill inventories

Answer 15

Files of personnel education, experience, interests, skills, and so on that allow managers to quickly match job openings with employee backgrounds

Question 16

Human resources planning (HRP)

Answer 16

The process of anticipating and providing for the movement of people into, within, and out of an organization

Question 17

Markov analysis

Answer 17

A method for tracking the pattern of employee movements through various jobs

Question 18

SWOT analysis

Answer 18

A comparison of strengths, weaknesses, opportunities, and threats for strategy formulation purposes

Question 19

succession planning

Answer 19

The process of identifying, developing, and tracking key individuals for executive positions

Question 20

environmental planning

Answer 20

Systematic monitoring of the major external forces influencing the organization

Question 21

quality of fill

Answer 21

A metric designed to measure how well new hires that fill positions are performing on the job

Question 22

cultural audits

Answer 22

Audits of the culture and quality of work life in an organization

Question 23

management forecasts

Answer 23

The opinions (judgments) of supervisors, department managers, experts, or others knowledgeable about the organization’s future employment needs

Question 24

mission

Answer 24

The basic purpose of the organization as well as its scope of operations

Question 25

strategic vision

Answer 25

A statement about where the company is going and what it can become in the future; clarifies the long-term direction of the company and its strategic intent

Question 26

core values

Answer 26

The strong and enduring beliefs and principles that the company uses as a foundation for its decisions

Question 27

competitive environment

Answer 27

Consists of a firm’s specific industry, including the industry’s customers, rival firms, new entrants, substitutes, and suppliers