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TEMPLE / Human resource management / HRM 1101 / In business strategies, what is vertical integration?

In business strategies, what is vertical integration?

In business strategies, what is vertical integration?

Description

School: Temple University
Department: Human resource management
Course: Introduction to Human Resource Management
Professor: Katherine nelson
Term: Fall 2016
Tags: HRM
Cost: 50
Name: HRM 1101, Study Guide (Oct 16 test)
Description: These notes cover what is going to be on the next test. More can be seen on the notes that I have posted for Weeks 5-7.
Uploaded: 10/13/2017
3 Pages 41 Views 2 Unlocks
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Week 5 


In business strategies, wwhat is the vertical integration?



Daniel Pink’s answer to “What motivates us?” 

Self-direction, Mastery, Purpose 

High performance work attributes ???? Job satisfaction & Employee engagement What makes work meaningful?

- Being self-aware, Hope, Resonant environment, Inspirational leadership, Ethical  organization

Employee Engagement:

- Ranges from engaged to actively disengaged

- Critical when it comes to customer satisfaction!  

- Theories of motivation – how workers became productive and happy – were created Motivating behavioral change:

- Helps explain how people can change their behavior

- Helps us understand how we can motivate people to change their behavior Motivation Theories:


Adhocracy culture, concentrate on what?



Maslow’s Hierarchy of Needs, The Two-Factor, Three-Needs, Equity

Week 6 

SMART goals ???? essential in business

• Specific, Measurable, Attainable, Relevant, Time-based

• Discussed in the “Organizational Planning” video

Strategic Planning Don't forget about the age old question of What is the annexation of crimea?

• Process of defining strategy and making decisions on allocation of resources • SWOT Analysis ???? type of strategic planning 

o Looking inside ???? strengths and weaknesses

o Looking outside ???? opportunities and threats Don't forget about the age old question of What is the amortization of intangible assets?

Business Strategies


What are the major factor in business success?



1. Differentiation ???? Providing unique products, services, or features 2. Cost Leadership ???? Most competitive and low-priced when it comes to costs 3. Niche ???? Focusing on a specific section of the market If you want to learn more check out Who are the first people in north america to make pottery?

4. Vertical Integration ???? Improving cost and efficiency through effect management of  supply chainIf you want to learn more check out What is the subtropical jet stream?

Types of plans

1. Long-term (1-5 years)

2. Short-term (1 year or less)

3. Single-use ???? For something that is going to happen just one time If you want to learn more check out What is oxymercuration?

4. Standing ???? On-going plans for tasks that happen repeatedly

5. Contingency ???? Plans to handle emergencies, weather, etc. (something that happens  suddenly)

Mission statement ???? characterizes the company right now

• How companies differ from one another

Vision statement ???? the future of the company; the dream

• Must be inspirational, clear, and compelling

Organization levels:

Board of Directors ???? Top Executives ???? Team leaders & managers ???? Operating workers ???? customers

Organizational Structure:

• Traditional hierarchy

o Decisions made at top

o “command and control” model

o Information flows from top to bottom

• Flat organization

o Fewer levels and empowered employees

o Wider spans of control

• Silo Mentality

o Departments don’t communicate

o Efforts aren’t coordinated

• Matrix Structure

Centralization

Decentralization

Decisions made at the top

Pros:

- Easy to control

- More consistency

- Less duplication

Cons:

- Slow

Decisions made all over

Pros:

- Employees close to problems decide - Fast  

Cons:

- More duplication

- Less consistency

Don't forget about the age old question of What is the top cause of death from 1900 to 1998?

Week 7 

Performance Management Process:

1. Set goals at every level

2. Track progress against goals

3. Measure end results

4. Reward efforts

Competency: 

- Capability or ability  

o Can link to excellent job performance

- Kinds of competencies:

o Threshold ???? bare minimum required

o Differentiating ???? abilities that set people apart

o Technical

o Cognitive ???? seeing the “big picture”

o Relational

Keys to Effective Leadership:

Emotional competence (EQ), Power, Ethics

Emotional Intelligence: 

- How well we handle ourselves and others

- Not fixed at birth; grows over time as you mature

- Major factor in business success 

o Key to managing people, Key to success in teams, Essential for leadership - Improving EQ 

o Become emotionally literate

o Take responsibility for your feelings

o Use your feelings to help make decisions

o Show respect for other people's feelings

o Validate what other people are feeling

Model of Organizational Culture

- Clan culture ???? values collaboration among organizational members.  - Hierarchy culture ???? internal focus and encourages stability and control. - Adhocracy culture ???? concentrate on innovation and creativity, respond well to changes  in the environment.

- Market culture ???? has an external focus and encourages stability and control.

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