ADM 2337 Lecture Notes - Lecture 3: Protected Group, Chief Operating Officer, Swot Analysis

• School: University of Ottawa
• Department: Administration
• Course: ADM 2337
• Professor: Catherine Elliott

Document Summary

Human resource management: the process of managing human capital to achieve an organization"s objectives. Human capital: the knowledge, skills, and capabilities of individuals that have economic value to an organization. Human capital is intangible and cannot be managed the way organizations manage jobs, products, and technologies because employees (not the organization) own their own human capital. If employees leave a company they take their human capital with them, any investment the company has made in the employee is lost. To build human capital in organizations, managers must continue to develop superior knowledge, skills and experience within their workforces and retain and promote top performers. And find ways to better utilize the knowledge that goes unused. 65% of responding companies believe that their hr groups play a key role in developing human capital. Competitive challenge 1: responding strategically to changes in the marketplace.