ADM 2337 Study Guide - Midterm Guide: Six Sigma, Markov Chain, Canada Day
2 Jun 2020
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What is strategy: unique competitive advantage/position, what is it about you or your company that provides unique value, kryscynski: 4 key questions, what resources/capabilities do we utilize, relates to hr, companies say that our strength is our people . Strategic planning and hr: planning: process for making decisions about org"s long-term goals and strats, hr needs to be linked to the strategic planning process. It"s based on an organizational index: select a factor (index) that is a good predictor of hr needs, plot historical trend, ex. Sales: you can do this monthly: calculate ratio and multiply by index, hospital: how many patients there are and how many nurses you would need. Gap analysis: comparing current performance with potential or desired performance. Finally: determine human capital readiness: gap analysis, demand for employees (quantity + quality, supply of employees (quantity + quality, gap, this info feeds/integrated with the strategic plan.
