BU354 Study Guide - Midterm Guide: Common Hardware Reference Platform, Human Relations Movement, Outsourcing
Document Summary
Chapter 1: the strategic role of human resources management: human resource management. The st(cid:396)ategi(cid:272) a(cid:374)d (cid:272)ohe(cid:396)e(cid:374)t app(cid:396)oa(cid:272)h to the (cid:373)a(cid:374)age(cid:373)e(cid:374)t of a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s (cid:373)ost (cid:448)alued assets people. Human resource management: management of people in organizations to drive successful organizational performance and achievement of organizational performance. Includes set of inter-related policies, practices, and programs, whose goal is to attract, socialize, motivate, maintain, and retain an organization"s employees. Human capital: the k(cid:374)o(cid:449)ledge, edu(cid:272)atio(cid:374), t(cid:396)ai(cid:374)i(cid:374)g, skills, a(cid:374)d e(cid:454)pe(cid:396)tise of a(cid:374) o(cid:396)ga(cid:374)izatio(cid:374)"s (cid:449)o(cid:396)kfo(cid:396)(cid:272)e. Effective hr practices = better organizational performance: the resource-based view of the firm suggests that human resource practices contribute to the de(cid:448)elop(cid:373)e(cid:374)t of e(cid:373)(cid:271)edded k(cid:374)o(cid:449)ledge of a fi(cid:396)(cid:373)"s (cid:272)ultu(cid:396)e, histo(cid:396)(cid:455), p(cid:396)o(cid:272)esses, a(cid:374)d (cid:272)o(cid:374)te(cid:454)t, (cid:449)hi(cid:272)h a(cid:396)e (cid:374)o(cid:374)- imitable. Three hr practices: profit sharing/ results-oriented performance appraisal/ employment security. Strongly affect on return on assets and return on equity (accounting measures of performance) High-performance hr practices have a +ve relationships with turnover, productivity and corporate financial performance: strategic human resource management.
