72 PART1: 21ST CENTURY RESOURCE MANAGEMENT STRATEGIC PLANNING AND LE GAL ISSUES
ID: 392105 • Letter: 7
Question
72 PART1: 21ST CENTURY RESOURCE MANAGEMENT STRATEGIC PLANNING AND LE GAL ISSUES ·KEYTERMS balanced scorecard (BSC) centralization complexity data analytics economic value added (EVA) formalization organizational HR scorecard human resource information systems (HRIS) mission statement objectives organizational culture return on investment (ROI) strategy vision KEY TERMS REVIEW consists of the values, beliefs, and a Complete each of the following statements using one of9 this chapter's key terms. tions about appropriate behavior that membersof organization share. an is a plan of action to achieve a particular is what we expect to become as an organi- consist of our expectations of what we're 10.is is the process of accessing large amo set of objectives. 2. of data in order to analyze those data and gai insights into significant trends or patterns wi organizations or industries within zation at a 11 are interacting database systems that aim at generating and delivering HR information and that allow us to automate some human resource manage ment functions. 3. going to do in order to become the organization that we envisioned. state what is to be accomplished in is a measure of profits that remain after 12. singular, specific, and measurable terms, with a target refers to the way in which an organization is the degree to which three types of differ- is the degree to which jobs are standard- is the degree to which decision making the cost of capital has been deducted from operating profits. date. 13. is a measure of the financial return we groups its resources to accomplish its mission. receive because of something that we do to invest in our organization or its people. 6. entiation exist within the organization 14 measures financial, customer ser- vice, internal process, and learning and growth (sustainability). ized within an organization 8. 15 identifies HR deliverables, identifies HR system alignment, compares HR alignment with strategy, and measures organizational gains cre ated by HR practices. is concentrated within the organization at a single point-usually at the top of the organization. COMMUNICATION SKILLSExplanation / Answer
1. Strategy is a plan of action to achieve a particular set of objectives
2. Vision is whatwe expect to become as an organization at a particular future point in time.
3. Mission statement consists of our expectations of what we're going to do in order to become the organization that we envisioned
4. Objectives state what is to be accomplished in singular, specific, and measurable terms with a target date
5. Organizational structure refers to the way in which an organization groups its resources to accomplish its mission
6. Complexity is the degree to which three types of differentiation exist within the organization
7. Formalization is the degree to which jobs are standardized within an organization
8. Centralization is the degree to which decision-making is concentrated within the organization at a single point- usually at the top of the organization
9. Organizational culture consists of values, beliefs, and assumptions about appropriate behavior that members of an organization share.
10. Data analytics is the process of accessing large amounts of data in order to analyze those data and gain insights into significant trends or patterns within organisations or industries.
11. Human resource information system(HRIS) are interacting database systems that aim at generating and delivering HR information and allow us to automate some human resource management functions.
12. Economic value added(EVA) is a measure of profits that remain after the cost of capital has been deducted from operating profits
13. Return on investment(ROI) is a measure of the financial return we receive because of something that we do to invest in our organization or its people
14. Balanced scorecard(BSC) measures financial, customer service, internal process, and learning and growth (sustainability)
15. HR scorecard identifies HR deliverables, identifies HR system alignment, compares HR alignment with strategy, and measures organization gains created by HR practices.
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