MGHB12H3 Lecture Notes - Lecture 1: Human Resource Management, Six Sigma, Human Resources
Document Summary
Human resources management (hrm) the process of managing human talent to achieve an organization"s objectives. Human capital the knowledge, skills, and capabilities of individuals that have economic value to an organization. Intangible and cannot be managed the way organizations manage jobs, products, and technologies. Managers must continue to develop superior knowledge, skills, and experience within their workforces and retain and promote top performers. Learning capability is g times g a business"s ability to generate new ideas multiplied by its adeptness at generalizing them throughout the company. Challenge 1: responding strategically to changes in the marketplace. Being able to adapt has become the key to capturing opportunities and overcoming obstacles. Six sigma a set of principles and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement. Reengineering the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed.
