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

• School: Ryerson University
• Department: Human Resources
• Course: MHR 523
• Professor: unavailable

Document Summary

Human resource management: the management of people in organizations to strategic goals. Human capital: the knowledge, education, training, skills and expertise of an drive successful organizational performance and achievement of the organization"s organization"s workforce. Scientific management: the process of (cid:498)scientifically(cid:499) 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: business acumen (business intelligence, understanding of employment law and legislation, talent management, broad hr knowledge, employee-labour 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 company"s plan for how it will balance its internal strengths and weaknesses with external opportunities and threats to maintain a competitive advantage.