Management and Organizational Studies 1021A/B Lecture Notes - Lecture 1: Competitive Advantage, Human Resource Management, Business Partner

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 1021A/B
• Professor: Sarah Ross

Document Summary

Great employers: strongest: google, people practices + employee-first culture directly contributes to its success, they offer a chill environment for their employees. Effective hmr = satisfied customers, innovative company, greater productivity and better reputation. Economic value = associated with capital: equipment, technology, facilities. Barriers to business expansion: availability to financial capital, access to talent (human capital) Hr leaders make decisions which are listed below, this affects an employee"s motivation, engagement and ability to provide goods and services: whom to hire, what to pay, what training to offer, how to evaluate performance. The necessary qualities to have in order to have a sustainable competitive advantage include: valuable human resources, rare human resources, human resources which cannot be imitated, human resources have no good substitutes. Administrative services and transactions: handling administrative tasks (requires expertise) and answering questions efficiently and with commitment and quality.