External
What is the term for comparing ones company to a similar competitor?
Benchmarking
What form of organization structure focuses on a traditional hierarchy with a high level of specialization.
Mechanistic
What is the term for gathering funding for organization endeavors?
Financing
This software is used to manage an organization's human resources data, including payroll, benefits, performance, and recruitment, often integrated into an organization's larger enterprise resource planning (ERP) system.
HR Information System
This management theory suggests that employees are motivated by both extrinsic rewards (like money) and intrinsic rewards (like job satisfaction), and that both must be considered for effective leadership.
What is the Two-Factor Theory (Herzberg’s Motivation-Hygiene Theory)?
What analyses the power of consumer and suppliers in an environment?
Porter's 5 Forces
This methodology, commonly associated with manufacturing and service industries, focuses on reducing process variation and defects through the use of statistical tools and structured problem-solving techniques.
(Lean) Six Sigma
What document gives a snapshot of a companies financial status at a specific point in time?
Balance Sheet
This type of cloud-based technology enables HR departments to provide employees with self-service access to their own HR-related data, such as payroll information, benefits elections, and personal records
Employee Self Service Portal
This management model encourages participative decision-making, where employees are involved in setting goals and making decisions, often resulting in greater engagement and commitment to the organization.
Participative Management Model
Describe each element of the PESTLE acronym
Political, Economic, Social, Technical, Legal and Environmental
This organizational model allows for decisions to be made at various levels throughout the company, leading to greater empowerment and a more flexible work environment.
Decentralized Structure
This metric is used to measure the total cost of employing an individual, including not only salary but also benefits, bonuses, and other associated costs, such as training and development.
Total Compensation Cost
This type of software tool is used by HR departments to manage the entire talent acquisition process, including job postings, applicant tracking, and interview scheduling, often enhancing the efficiency and speed of recruitment.
Applicant Tracking System
This theory, proposed by Chester Barnard, suggests that effective organizational functioning is based on the acceptance of authority by employees, which is necessary for coordination and cooperation.
Acceptance Theory of Authority
This organizational model is driven by external forces and encourages businesses to create flexible structures and processes to respond to unpredictable market shifts, such as technological disruption or consumer behavior changes.
This framework helps organizations improve internal business processes by emphasizing a cross-functional approach to problem-solving, with teams designed to break down silos and promote innovation, efficiency, and collaboration across departments.
Business Process Reingeneering
This type of budgeting approach involves setting financial targets and monitoring HR-related expenditures on a periodic basis, allowing the HR department to ensure that compensation and benefits costs do not exceed allocated budgets.
Zero-Based Budgeting
This type of cloud-based platform is used by HR departments to automate learning and development programs, track employee certifications, and measure training outcomes for career progression and compliance purposes.
Learning Management System (Canvas is an example)
This decision-making tool involves using quantitative methods to analyze potential risks and uncertainties before making strategic decisions, often helping businesses navigate complex environments.
Risk Analysis
This economic indicator is often used by organizations to gauge consumer spending behavior, which directly impacts demand for goods and services, and consequently influences workforce planning and hiring decisions.
Consumer Confidence Index
This concept involves systematically documenting, analyzing, and optimizing business processes to identify inefficiencies and potential areas for improvement, ensuring that the organization’s operations are in alignment with strategic goals.
Process Mapping
This term refers to the financial concept used to evaluate the efficiency of HR programs or strategies by measuring the costs against the benefits or outcomes they produce, especially in performance management or employee retention.
Cost Benefit Analysis
This type of policy ensures that all employee data, whether stored digitally or physically, is managed and disposed of in compliance with legal and organizational privacy standards, often through secure deletion methods.
Data Retention and Disposal Policy
This model describes how businesses can create a competitive advantage by delivering superior value to customers through either cost leadership or differentiation strategies.
Porters generic strategies model