BU354 Final: BU354 - Final Exam - Textbook Chapter Notes

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27 Nov 2012

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Bu354 - human resource management final exam chapter notes. Chapter 1: the strategic role of human resource management. Human resource management (hrm) is the management of people in organizations to drive successful organizational performance and achievement of the organization s strategic goals. Hr professionals must manage the workforce by attracting, retaining, and engaging talent. Human capital is the knowledge, education, training, skills, and expertise of an organization s workforce. *effective hr practices are related to better organizational performance. Environmental scanning involves identifying and analyzing external opportunities and threats that may be crucial to the organization s success. *details regarding a successful incentive plan being used by a competitor, impending labour shortages, and information about pending legislative changes are examples: role in executing strategy. Strategy execution is typically the area where hr makes the biggest strategic contribution (i. e. downsizing, flattening the hierarchy, redesigning jobs, etc. )