MGT 365 Chapter 2

Internal Growth Strategy

A focus on new market and product development, innovation, and joint ventures.

Training

A planned effort to enable employees to learn job-related knowledge, skills, and behavior

Concentration Strategy

A strategy focusing on increasing market share, reducing costs, or creating and maintaining a market niche for products and services.

External growth strategy

An emphasis on acquiring vendors and suppliers or buying businesses that allow a company to expand into new markets.

Strategic HR Management

Pattern of planned HR deployment and activities intended to enable an organization to achieve its goals

Performance Management

The means through which managers ensure that employees' activities and outputs are congruent with the organization's goals.

Strategy Implementation

The process of devising structures and allocating resources to enact the strategy a company has chosen.

Role Behaviors

behaviors that are required of an individual in his or her role as a job holder in a social work environment

External Analysis

examining the organization's operating environment and to identify strategic opportunities and threats

Internal Analysis

process of examining an organization's weaknesses and strengths

Development

the acquisition of knowledge, skills, and behaviors that improve an employee's ability to meet changes in job requirements and in customer demands

Strategic Choice

the organization's strategy, the ways an org will attempt to fulfill its mission and achieve its long term goals

Downsizing

the planned elimination of large numbers of personnel with the goal of enhancing the organization's competitiveness

Selection

the process by which the organization attempts to identify applicants with the necessary knowledge, skills, abilities, and other characteristics that will help the organization achieve its goals

Strategy Formulation

the process of deciding on a strategic direction by defining a company's mission and goals, its external opportunities, and threats, and its internal weaknesses and strengths

Job Design

the process of defining the way work will be performed and the tasks that a given job requires

Job Analysis

the process of getting detailed information about jobs

Recruitment

the process of seeking applicants for potential employment

Goals

what an organization hopes to achieve in the medium to long term future