Management and Organizational Studies 3383A/B Lecture Notes - Lecture 2: Human Resources, Human Capital, Scaled Composites Tier One

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3383A/B
• Professor: Linda Eligh

Document Summary

Human resources management (hrm) is an umbrella term that encompasses: overarching hr philosophies, specific hr practices. Theories of the strategic management of human resources. Investing in hr became part of business strategy. Typical resources might include: human resources, proprietary knowledge, reputation. Typical capabilities might include: adaptability, flexibility, speed. This theory suggests that the management of resources and capabilities will lead to competitive advantage resulting in superior performance and value creation. Contingency perspective: contingency perspective blends both the human capital and behavioural theories. It refers to the need to modify hr strategies relative to its business and organizational strategies. Human capital theory: classical economists view of the firm as having control over three types of resources in the production of goods and services . Human capital: definition: the collective sum of employees" attributes, experience, knowledge, and commitment invested in the organization.