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Business Administration
BUS 381
Natalie Zhao

BU 354 – Chapter 1 ● Human Resource Management – The management of people in organizations through formulating and implementing human resources management systems that are aligned with organizational strategy in order to produce the workforce competencies and behaviours required to achieve the organization's strategic goals ● Human Captial – The knowledge, education, training, skills, and expertise of an organization's workforce ● Balanced Scorecard – Ameasurement system that translates an organization's strategy into a comprehensive set of performance measures Human Resource Management Responsibilities: ● Operational Responsibilities – include: ○ Serving as in-house consultants to managers ○ Offering advice on HR-related matters ○ Formulating HR policies and procedures ● Strategic Responsibilities: Strategy is the company's plan for how it will balance its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage. 2 key levels: 1. Formulating Strategy: ■ Environmental scanning – Identifying and analyzing external opportunities and threats that may be crucial to the organization's success 2. Executing Strategy: ● Employee Engagement – The emotional and intellectual involvement of employees and their work Environmental Influences on Human Resource Management ● Internal Environmental Influences: ○ 1 - Organizational Culture – The core values, beliefs, and assumptions that are widely shared by members of an organization. Serves a variety of purposes: ■ Communicating what the organization “believes in” and “stands for” ■ Providing employees with a sense of direction and expected behaviour (norms) ■ Shaping employees' attitudes about themselves, the organization, and their roles ■ Creating a sense of identity, orderliness, and consistency ■ Fostering employee loyalty and commitment ○ 2 - Organizational Climate – The prevailing atmosphere that exists in an organization and its impact on employee ○ 3 - Management Practices – Have changed considerably over the last decade with many HRM implications: ■ Empowerment – Providing workers with the skills and authority to make decisions that would traditionally be made by managers ■ Boundaryless Organization Structure –Astructure in which relationships (typically joint ventures) are formed with customers, suppliers, and/or competitors, to pool resources for mutual benefit of encourage cooperation in an uncertain environment ● External Environmental Influences: ○ Economic Conditions – Affect supply and demand for products which impact the number and types of employees required, as well as employers' abilities to pay wages and benefits. ■ Productivity – The ratio of an organization's outputs to its inputs ■ Primary Sector –Agriculture, fishing and trapping, forestry, and mining ■ Secondary Sector – Manufacturing and Construction ■ Tertiary Sector – Public administration, business services, finance, trade, etc ○ Labour Market Issues ■ Labour Unions – Once unions are established, management has less power ■ Contingent Employees – Workers who do not have regular full-time or part-time employment status ○ Demo
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