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13 02 strategic HrM K e y co n c e P t s a n d t e r m s Best fit Bundling Business model innovation Competitive advantage Contingent determinism High-involvement management High-performance work system Lifecycle model Resource dependence theory Strategic fit Strategic management Best practice Business model Competency framework Configuration High-commitment management High-performance management Human resource advantage Resource-based view Strategic configuration Strategic HRM Strategy L e a r n I n g o u tcom e s On completing this chapter you should be able to define these key concepts. You should also understand: The conceptual basis of strategic HRM The fundamental characteristics of strategy How strategy is formulated The aims of strategic HRM The resource-based view and its implications The meaning of strategic fit The three HRM `perspectives' of Delery and Doty The significance of bundling The significance of the concepts of `best practice' and `best fit' The significant features of strategic HRM The content and formulation of HR strategies