MGHB12H3 Final: HRM Exam Notes
Document Summary
The process of managing human talent to achieve organizations objectives. Human capital: the knowledge, skills, and capabilities of individuals that have economic value to an organization great people are hard to copy. Challenges: responding strategically to changes in the marketplace. Total quality management (tqm): quality is the responsibility of all people and functions within an organization. Six sigma: measure of quality; core ideas include understanding customer needs and doing things right the first time includes forming teams, extending processes to include training, performance management, culture, communication and even rewards. Reengineering: rethinking and radical redesign of business processes. Change management: systematic way of bringing about and managing both organization changes and individual changes. Reactive change: change that occurs after external forces have already affected performance. Proactive change: change initiated to take advantage of targeted opportunities: competing, recruiting, and staffing globally. Globalization: trend to opening up foreign markets to international trade and investment. Job candidates are from diverse and international backgrounds.
