HRM 3440- Midterm Exam Guide - Comprehensive Notes for the exam ( 38 pages long!)
11 Oct 2017
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Document Summary
Chapter 1: the world of human resource management. Main source of competitive advantage is how an org. acquires, treats, develops and rewards their employees. Human resource management (hrm): successful org. are good at bringing together different kinds of people to achieve a common purpose. Must analyze the environment, make good positions so that it beats the competition. The train, motivate, appraise them with competitive compensation to keep them. Hr is good for managers, entrepreneurs not just hr. Compete through people, which means achieving success depends on the ability to manage human capital: the economic value of human"s knowledge, skills, capabilities. Employees own their human capital, not the organization. Often, human capitals have knowledge that is unused, so orgs. Need to find better ways to use this knowledge they have over investing in employees. Generating new ideas x"s generalizing them (dave ulrich) Key to focus on everyone"s talent rather than a few people.
