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Lecture

MHR 523 Lecture Notes - Human Resource Management, Human Resources, Balanced Scorecard


Department
Human Resources
Course Code
MHR 523
Professor
Margaret Yap

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Chapter 1 ± The Strategic Role of Human Resources Management
Human resources management (HRM) ± management of people in organizations to drive successful
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Human capital ± NQRZOHGJHHGXFDWLRQWUDLQLQJVNLOOVH[SHUWLVHRIRUJDQL]DWLRQVZRUNIRUFH
Operational (administrative) responsibility ± offer advice & HR services, consulting, hire & maintain
employees, separation
Strategic Responsibility ± ensuring organization staffed with most effective human capital to achieve
goals
Outsourcing ± practice of contracting with outside vendors to handle specified functions on permanent
basis
Strategy ± FRPSDQVplan for how it will balance its internal strengths & weaknesses with external
opportunities & threats in order to maintain competitive advantage
Environmental scanning ± identifying & analyzing external opportunities & threats that may be crucial to
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Metrics ± statistics used to measure activities & results
Balanced scorecard ± PHDVXUHPHQWV\VWHPWKDWWUDQVODWHVRUJDQL]DWLRQVVWUDWHJ\LQWRFRPSUHKHQVLYH
set of performance measures
External Environmental Influences ± economic, workforce issues, technology, government, globalization,
environment
Productivity ± UDWLRRIRUJDQL]DWLRQVRXWSXWVJRRGVVHUYLFHVWRLWVLQSXWVSHRSOHFDSLWDOHQHUJ\
materials)
Primary sector ± agriculture, fishing, trapping, forestry, mining
Secondary sector ± manufacturing & construction
Tertiary/service sector ± public admin, personal & business services, finance, trade, public utilities,
transportation/communications
Traditionalists/Silent Generation ± born before 1946 Baby Boomers ± born 1946-1964
Sandwich Generation ± responsibility for rearing young dependants, assisting elderly relatives who no
longer capable of functioning totally independently
Generation X ± 1965-1980 Generation Y ± born since 1980
Contingent/non-standard workers ± ZRUNHUVZKRGRQWKDYHUHJXODUIXOO-time employment status
Globalization ± emergence of single global market for most products & services
Internal Environmental Influences ± 1) organizational culture, 2) organizational climate, 3) management
practices
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