BU354 Midterm: HR notes
Document Summary
Chapter 1 the strategic role of human resources management. Human resources management the management of people in organizations to drive successful organizational performance and achievement of organization"s strategic goals. Human capital the knowledge, education, training, skills, and expertise of an organization"s workforce. Scientifically analyzing manufacturing processes to reduce costs and compensating employees based on performance. Emphasis on contribution and proactive management of people. Every line manager must possess basic hr skills. New roles: activist, change steward, talent manager/organizational designer, operational executor and business ally. For example: number of candidates interviewed, cost per hire. Focus on productivity, quality, sales, market share, and profits. Balanced scorecard a measurement system that translates organization"s strategy into a comprehensive set of financial and operational performance measures. External economic conditions, labour market issues, technology, government, globalization, environmental concerns. Internal organizational culture, organizational climate, management practices. Growth of the primary, secondary, and tertiary (service) sectors.
