COMMERCE 1E03 Study Guide - Final Guide: Brainstorming, Piece Work, World Trade Organization

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 1E03
• Professor: Rita Cossa

Document Summary

The six elements are: legal economic technological competitive social global: explain why the business environment is important to organizations. Nations should trade globally because: no country is self sufficient, other countries need products that prosperous countries produce, natural resources and technological skills are not, what is the theory of competitive advantage? distributed evenly around the world. Explain the importance of human resource management as a strategic contributor to organizational success, and summarize the five steps in human resource planning: human resource management is the process of evaluating human resource need, finding people to fill those needs, and getting the best work from each employee by providing the right incentives and job environment. After assessing the needs of the organization and the skills of the employees, training programs are made and could include the following: employee orientation, on the job training, apprenticeship programs, off the job training, online training, vestibule training, and job stimulation.