COMMERCE 2BC3 Lecture Notes - Lecture 3: Strategic Planning, Strategic Management, Society For Human Resource Management
22 Sep 2017
School
Department
Course
Professor
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What%are%the%main%responsibilities%of%HRM?
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What%are%the%three%main%challenges%facing%Canadian%organizations?
Sustainability,%globalization,%technology%
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What%are%the%four%types%of%capital%included%in%intangible%asses?
Human,%social,%customer,%intellectual%
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What%is%the%fastest%growing%occupation%in%Canada?
Service%sector%
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Are%statistical%models%in%HR%analytics%always%right?
No,%introduce%unwanted%or%unnecessary%bias%
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3+-.(,--)4$5,6)74$(,8)4'&&,%-9:)
A%business%model%is%a%story%of%how%the%firm%will%create%value%for%customers%and,%
more%importantly,%how%it%will%do%so%profitably%
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Basic%accounting%concepts%
Fixed%costs:%the%cost%incurred%regardless%of%the%number%of%units%produced%
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Variable%costs:%costs%that%vary%directly%with%the%units%produced%
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Contribution%margins%or%margins:%what%you%charge%-the%variable%costs%of%
the%product%
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Gross%margins%=%the%number%of%units%sold%x%the%contribution%margin%
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•
0;'&).-)<&%'&,=.>)4'('=,",(&?
Definition%of%(general)%strategic%management%
An%approach%for%creating%and%managing%a%patter%or%plan%that%integrates%an%
organization's%major%goals,%policies,%and%action%sequences%into%a%cohesive%
whole%
Align%different%parts%of%the%organization%to%achieve%common%goals%
§
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0;'&).-)<&%'&,=.>)@A4?
Definition%
The%pattern%of%planned%HR%deployments%and%activities%intended%to%enable%
an%organization%to%achieve%its%goals%
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Lecture'3
Thursday,% June%22,%2017
12:00%PM
find more resources at oneclass.com
find more resources at oneclass.com
Document Summary
A business model is a story of how the firm will create value for customers and, more importantly, how it will do so profitably. Fixed costs: the cost incurred regardless of the number of units produced. Variable costs: costs that vary directly with the units produced. Contribution margins or margins: what you charge - the variable costs of the product. Gross margins = the number of units sold x the contribution margin. An approach for creating and managing a patter or plan that integrates an organization"s major goals, policies, and action sequences into a cohesive whole. Align different parts of the organization to achieve common goals. The pattern of planned hr deployments and activities intended to enable an organization to achieve its goals an organization to achieve its goals. A system that aligns different hr practices to achieve common goals. Integration of hrm systems to the overall mission, strategy and success of the firm.
