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