Terms of the Day Human Capital and Strategic Planning

For those of us who have Read Steven Covey and “Begin with an End in Mind” – Strategic Planning comes Easy.

strategic planning
 
Term of the Day

Strategic planning

systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps toachieve them. In contrast to long-term planning (which begins with the currentstatus and lays down a path to meet estimated future needs), strategic planning begins with the desired-end and works backward to the current status.

  • At every stage of long-range planning the planner asks, “What must be done here to reach the next (higher) stage?”
  • At every stage of strategic-planning the planner asks, “What must be done at the previous (lower) stage to reach here?”

Also, in contrast to tactical planning (which focuses at achieving narrowly defined interim …

Learn more about this term
Usage Example Unlike other types of planning, strategic planning starts with the desired-end result and works backwards to find out ways to meet the desired goal.
I find these Terms of the Day Quotes useful. I subscribe to this Newsletter from businessdictionary.com which send me:
1. Term of the Day and
2. Investor Words of the Day.
IMHO, both are great Refreshers in the morning for a C Suite Player.  See another example below about a Much Over-used Term:
Term of the Day

Human capital

The set of skills which an employee acquires on the job, through training andexperience, and which increase that employee’s value in the marketplace.
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Usage ExampleHuman capital is like any other type of capital; therefore, it should be invested in through education and additional training.
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Term of the Day public relations

Term of the Day

public relations

The profession or practice of creating and maintaining goodwill of anorganization’s various publics (customersemployeesinvestorssuppliers, etc.), usually through publicity and other non paid forms of communication. These efforts may also include support of arts, charitable causeseducation, sporting events, and other civic engagements.
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Usage Example
Many large companies have a public relations department to ensure that the company doesn’t have any scandals and looks positive in the eyes of the consumers.

Term of the Day negligence

Breach of duty of care which results in loss or injury to the person or entity theduty is owed. Negligence usually includes doing something that an ordinary,reasonable, and prudent person would not do, or not doing something such a person would do considering the circumstances, situation, and the knowledgeof parties involved. In civil liability (see tort), an aggrieved person or entity isentitled to claim damages in a court. In criminal liability, it is usually an unacceptable defense to claim that one was doing one’s best to avoid injury or loss if his or her conduct or performance falls below the expected orrequired level.
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Usage Example
The company was convicted of negligence after leaving dangerous machinery unattended and someone got serious injured.

Term of the Day consensus


Term of the Day

consensus

Middle ground in decision making, between total assent and total disagreement. Consensus depends on participants having shared values andgoals, and on having broad agreement on specific issues and overall direction. Consensus implies that everyone accepts and supports thedecision, and understands the reasons for making it. See also collective responsibility.
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Usage Example
Reaching a consensus can sometime be difficult because everyone in the group may not see eye-to-eye on the topic.

Term of the Day Santa Claus rally

Term of the Day

Santa Claus rally

The rise in stock prices that sometimes occurs in the week after Christmas, often in anticipation of the January effect.
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Usage Example
End-of-the-year market optimism was high and many investors believed that corporate profits would rise in January, creating a Santa Claus rally.

Term of the Day negotiable

Term of the Day

negotiable

  1. The ability to be sold or transferred to another party as a form of payment. Something which is negotiable is transferable by endorsement anddelivery. A negotiable instrument could be a check made out to you, because you could endorse it for payment to you or transfer it to someone else as payment to them.
  2. For a price or other terms of a contract or agreement, the ability to be adjusted. For example, when a price is said to be negotiable, it means that the seller is open to the possibility of reducing the price.
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Usage Example
When shopping at most retail stores items are typically not negotiable as they are listed at a set price.