HR Study Guide CH2.csv

  1. strategic planning
    The process of defining organizational strategy and allocating resources toward its achievement.
  2. organizational mission
    The core reason for the existence of the organization and what makes it unique.
  3. strategic HR management
    Refers to the use of employees to gain or maintain a competitive advantage.
  4. effectiveness
    The ability to produce a specific desired effect or result that can be measured.
  5. efficiency
    The degree to which operations are done in an economical manner.
  6. environmental scanning
    The assessment of internal and external environmental conditions that affect the organizations.
  7. succession planning
    The process of identifying a plan for the orderly replacement of key employees.
  8. multinational corporation
    A corporation that has facilities and other assets in at least one country other than its home country.
  9. offshoring
    The relocation by a company of a business process or operation from one country to another.
  10. due dilligence
    A comprehensive assessment of all aspects of the business being acquired.
  11. severance benefits
    Temporary payments made to laid-off employees to ease the financial burden of unemployment.
  12. alternate work arrangements
    Nontraditional schedules that provide flexibility to employees.
  13. outsourcing
    Transferring the management and performance of a business function to an external service provider.
  14. electronic human resource management systems (e-HRM)
    The planning, implementation, and application of information technology to perform HR activities.
  15. HR metrics
    Specific measures tied to HR performance indicators.
  16. benchmarking
    Comparing the business results to industry standards.
  17. balanced scorecard
    A framework used to report a diverse set of performance measures.
  18. return on investment
    Calculation showing the value of an investment.
  19. human capital value added
    Calculated by subtracting all operating expenses except for labor expenses for labor expenses from revenue and dividing by the total full-time head count.
  20. human capital return on investment
    Directly shows the operating profit derived from investments in human capital.
  21. human economic value added
    Wealth created per employee.
  22. HR audit
    A formal research effort to assess the current state of HR practices.
Card Set
HR Study Guide CH2.csv