MGHB12 Final notes.docx

16 Pages

Management (MGH)
Course Code
Sujay Vardhmane

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Chapter 1Human capital the knowledge and skills and capabilities of individuals that have economic value to an organizationCompetitive challengesChanges in the marketplace and economyglobalizationtechnologycost containmentleveraning employee differencesHuman resourcesPlanning recruitment staffing job design training development appraisal communications compensation benefits labour relationsEmployee concernsJob security health care agegenerations retirement issues gender education levels employee rights privacy work attitude family concernsHR managers and business strategysix sigma a set of principles and practices whose core ideas include understanding customer needs doing things right the first time and striving for continuous improvementreengineering fundamental rethinking and radical redesign of business processes to achive dramatic improvements in cost quality service and speeddownsizing planned elimination of joboutsourcing contracting out work that was formerly done by employeeschange management change management is a systematic way of bringing about and managing both organizational changes and changes on the individual levelreactive change change that occurs after the external forces have already affected performanceproactive change change initiated to take advantage of targeted opportunitiesglobalization the trend of opening up foreign markets to international trade and investmentSetting corporate social responsibility and sustainability goalscorporate social responsibility to act in the best interest of the people and communities affected by its activitiesAdvancing with HRM technologiescollaborative software software that allows workers to interfere and share information with one another electronicallyknowledge workers workers whose responsibilities extend beyond the physical execution of work to include planning decision making and problem solvinghuman resources information systems HRIS computerized system that provides current and accurate data for purposes of control and decision makingContaining cost while retaining top talentfurloughingsituations in which an organization asks or requires employees to take time off for either no pay or reduced payoff shoring the business practice of sending jobs to other countriesnearshoring moving jobs closer to homeemployee leasing dismissing employees who are then hired by a leasing company and contracting with that company to lease back the employeesline managers non hr managers who are responsible for overseeing the work of other employeesCompetencies of HR manager1 business mastery business acumen customer orientationER2 hr mastery Staffing appraisals development rewards and team building3 change mastery manage change with interpersonal problem solving and creativity reward systems4 personal credibility trust personal relationships lived values courageChapter 2strategic planning procedure for making decisions about organizations long term goals and strategiesHRP process of anticipating and providing for the movement of people into and out of organizationSHRM pattern of hr deployments and activities that enable an organization to achieve its strategic goalsMission basic purpose of the org as well as scope of operationsstrategic vision statement about where the company is going and what it can become in the futureCore values strong underlying beliefs and principles that the company uses as a foundation for its decisionscore capabilities intergrated knowledge sets within an org that distinguish it from competitersStrategic Planning and HR PlanningMission visionvaluesCapture underlying phylosphyestablish foundation of cultureguide ethical codes of conductExternal
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