Definition for final exam.doc

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Woodsworth College Courses
Ted Mock

Term Definition Succession The process of ensuring that ‘pools’ of skilled management employees are available to meet the strategic objectives of the firm. The process of identifying employees who have the potential to assume key positions and preparing them for these roles – this creates overlap with employee/management development. It also might be viewed as part of the talent management process of an organization that focuses on the flow of employees, starting from selection to career management to exit, through the organization. Succession chart Identify potential replacement- with readiness code and performance code. The VP and HR will provide the names with HRIS. It is important for the short term perspective (6 months) Talent management the future leadership of the organization Replacement planning The process finding replacement employees for key managerial positions Mentors Executive who coach, advise and encourage junior employees Survivors Employees remaining with an organization after a downsizing Survival sickness It is a syndrome known for people who survive the downsizing. They are dealing with difficult time. The issue is insecurity because the concern that they will be the next to be fired. The feel stress and burn out because they need to do the old job plus the job of people who left. They feel anger, anxiety, cynicism and mistrust, resentment and guilt. Downsizing strategy Strategy to improve an organization’s efficiency by reducing the workforce, redesigning the work, or changing the systems of the organization Downsizing Activities undertaken to improve organizational efficiency, productivity, and/or competitiveness that effect the size of the firm’s workforce, its costs and its work process Workforce reduction A short- term strategy to cut the number of employees through attrition, early retirement or voluntary severance packages and layoffs or terminations Work redesign A medium- term strategy in which organizations focus on work processes and assess whether specific functions, products, and/or services should be eliminated. Using Enterprise Resource Planning (ERP) or Business process re-engineering (BRP) Systematic change A long-term strategy that changes the organization’s culture and attitudes, and employees’ values, with the goals of reducing costs and enhancing quality Inplacement Reabsorbing excess or inappropriately placed workers into a restructured organization Outpalcemet Providing a program of counselling and job-search assistance for workers who have been terminated Psychological contract An unwritten commitment between employers and their employees that historically guaranteed job security and rewards for loyal service High- involvement A commitment to human resources management human resources practices that treat people as assets management Consolidation The joining of two or more organizations to form new organization. The combining of separate companies, functional areas, or product lines, into a single one. Differ from a merger in that a new entity is created in the consolidation Take over One company acquiring another company Acquisition One company acquire the other company Merger Mergers of two companies Hostile takeover This is an unfriendly takeover attempt by a company or ‘raider’ that is strongly resisted by the management and the board of directors of the target firm. Target firm need to convince the shareholders, that the offer is not in their interest and not benefit from the. Dawn raid During a ‘dawn raid’ , a firm or investor aims to buy a substantial holding in the takeover-target company’s equity by instructing brokers to buy the share as soon as the stock markets open. Saturday Night special It is a sudden attempt by one company to take over another by making a public tender offer. Shark repellent Types of strategies that aimed at affecting the value of the target’s stock in some way. Golden parachute A golden parachute discourages an unwanted takeover by offering lucrative benefits to the current top executives, who may lose their job if their company is taken over by another firm Green mail A spin- off of the term blackmail- occur when a large block of stock is held an unfriendly company or raider, who then forces the target company to repurchase the stock at a substantial premium to destroy any takeover attempt. Macaroni defense This is a tactic by which the target company issues a large number of bonds that come with the guarantee that they will be redeemed at a higher price if the company is taken over. Because if a company in danger, the redemption price of the bonds expends, kind of like macaroni in a pot. People pill The management threatens that in the event of a takeover, the management will resign at the same time. This is useful if they are a good management team. However, of it is a hostile takeover, the management being fired anyways, so the effectiveness depends on the situation. Poison pill With this strategy, the target company aims at making its own stock less attractive to the acquirer. There are two types of poison pills. The ‘flip-in’ poison pill allows existing to the acquirer (except the bidding company)
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