ADMS 2600 Study Guide - Midterm Guide: Canadian Human Rights Act, Delphi Method, Markov Chain

• School: York University
• Department: Administrative Studies
• Course: ADMS 2600
• Professor: Wai Ming Ho

Document Summary

Human resource management: the process of managing human talent to achieve an. Human capital: the knowledge, skills and capabilities of individuals that have economic. The real strategic advantage for an organizations is high quality hrm system (selection and. To build human capital in organizations managers must continue to develop superior knowledge, skills, and experience withing their workforces and retain and promote top performers. Responding strategically to changes in the marketplace. Given the pace of commerce, organizations can rarely stand still. Competition is global and innovation is continuous, being able to adapt has become the key to survival. Six sigma: a set of principles and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement. Reengineering: the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service and speed. Outsourcing: hiring someone outside the company to perform business processes that were previously done within the firm.