COMMERCE 2BC3 Lecture Notes - Lecture 7: Expert System, Learning Organization, Transaction Processing

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2BC3
• Professor: Dr Schat

Document Summary

Strategic human resource management (shrm): pattern of planned human resource developments and activities to help company achieve its goals. Strategy formulation: de ning a company"s direction by de ning mission, goals, external opportunities and threats, and internal strengths and weaknesses. Strategy implementation: allocation of resources to support chosen strategy. External analysis: examining company"s working environment to nd opputuities and threats. Internal analysis: process of examining an organization"s strengths and weakness. Strategic choice: organization strategy to achieve mission and long term goals. Role behaviours: behaviour required by the employee in their position. External growth strategy: company expanding into new markets by buying or acquiring business. Downsizing: elimination of large numbers of personnel. Concentration strategy: strategy that increases markets share, reducing costs or creating and maintaining a market niche for products and services. Internal growth strategy: focusing on new market and product development.