[COMMERCE 2BC3] - Midterm Exam Guide - Comprehensive Notes for the exam (36 pages long!)

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2BC3
• Professor: Willi Wiesner

Document Summary

Make money (provide living wages + doing things we wished to do) Make more money than they spend must generate sufficient income. Hrm is the application of principles discovered and theories developed in ob to help organizations solve problems and address needs concerning people at work. Primary objective of hrm is to contribute to organizational effectiveness. Hrm is not an end in itself: its role is to help organization achieve its primary goals, this is accomplished through interactive with employees (e. g. through. Influenced by many factors selection, training, managing, h&s: industry characteristics, organization"s product, competitive strategy. Assist employees in achieving personal goals: short-term performance goals and long-term career goals. Can be challenging to balance individual + organizational goals: e. g. when training results in employees developing skills that are attractive to other organizations. Hrm must be socially responsible: contribute to meeting the needs and challenges of society, narrowly legal compliance, broadly concern w/ human rights, social responsibility, etc.