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Study Guide

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


Department
Human Resources
Course Code
MHR 523
Professor
unavailable
Study Guide
Final

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Ryerson
MHR 523
FINAL EXAM
STUDY GUIDE

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CHAPTER 1:
Human Resource Management: The management of people in organizations to
drive successful organizational performance and achievement of the organization’s
strategic goals.
Human Capital: The knowledge, education, training, skills and expertise of an
organization’s 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. 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
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 organization’s 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
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Balance scorecard: A measurement system that translates an organization’s
strategy into a comprehensive set of performance measure.
6 Major External Environmental Influences on HRM:
1. Economic conditions
2. Labour market issues
3. Technology
4. Government
5. Globalization
6. Environmental concerns
Productivity: The ratio of an organization’s outputs goods and services to its
inputs (people, capital, energy and materials)
Primary Sector: Jobs in agriculture, fishing and trapping, forestry and mining
Secondary Sector: Jobs in manufacturing and construction
Tertiary or service sector: Jobs in public administration, personal and business
services, finance, trade, public utilities, and transportation/communications.
Traditionalists: Individuals born before 1946
Baby Boomers: Individuals born between 1946-1964
Generation X: Individuals born between 1965-1980
Generation Y: Individuals born since 1980
Contingent/non-standard workers: Workers who do not have regular full-time
employment status
Globalization: The emergence of a single global market for most products and
services
Organizational Culture: The core values, beliefs and assumptions that are widely
shared by members of an organization
Organizational Climate: The prevailing atmosphere (internal weather) that exists
in an organization and its impact on employees
Empowerment: Providing workers with the skills and authority to make decisions
that would traditionally be made by managers
Every Profession has Several Characteristics:
1. A common body of knowledge
2. Benchmarked performance standards
3. A representative professional association
4. An external perception as a profession
5. A code of ethics
6. Required training credentials
7. Ongoing need for skill development
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