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[MHR 523] - Final Exam Guide - Everything you need to know!..
[MHR 523] - Final Exam Guide - Everything you need to know! (43 pages long)

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Ryerson University
Human Resources
MHR 523

Ryerson MHR 523 FINAL EXAM STUDY GUIDE find more resources at CHAPTER 1: Human Resource Management: The management of people in organizations to drive successful organizational performance and achievement of the organizations strategic goals. Human Capital: The knowledge, education, training, skills and expertise of an organizations workforce. Scientific Management: The process of scientifically analyzing manufacturing processes, reducing production costs, and compensating employees based on their performance levels. Human Resources Movement: A management philosophy focusing on concern for people and productivity. Outsourcing: The practice of contracting with outside vendors to handle specified business functions on a permanent basis. 5 Critical Pieces of Knowledge Required by HR Professionals: 1. Business acumen (Business intelligence) 2. Understanding of Employment Law and Legislation 3. Talent Management 4. Broad HR Knowledge 5. EmployeeLabour Relations Knowledge Employee Engagement: The emotional and intellectual involvement of employees in their work, such as intensity, focus and involvement in his or her job and organization. Strategy: The companys plan for how it will balance its internal strengths and weaknesses with external opportunities and threats to maintain a competitive advantage Change Agents: Specialists who lead the organization and its employees through organizational change. Environmental Scanning: Identifying and analyzing external opportunities and threats that may be crucial to the organizations success. The HR Role Continues to Evolve 1. Changing Technology 2. New Rules 3. Succession Planning 4. Identifying Top Talent 5. A New Breed of HR Leaders find more resources at
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