HRM200 Lecture Notes - Lecture 1: Internal Combustion Engine, Human Capital, Succession Planning

• School: University of Waterloo
• Department: Human Resources Management
• Course: HRM200
• Professor: William Peckham

Document Summary

Human resources management managing people in organizations to drive successful organizational performance and achievement of organization"s strategic goals. Combustion engine, semi conductor, gps, internet, plastics, telephone, television, etc. But the most imp invention is management (the group of people responsible for controlling and direction the affairs of the business, the institution, planning, budgeting, etc) Management and leadership different- (leadership is more about inspiring and how you coach) Hr is about the strategic use of people. 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. Hr dept. is being viewed as an equal partner in strategic planning process. Hr specialists are expected to be change agents. Hr trends that are changing the face of business: Management challenges: greater diversity, faster industry life cycle, environmental considerations, obsolesces of knowledge, emergence of new competencies.