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MGT 3320 (22)
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Exam 1 Study Guide

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Louisiana State University
MGT 3320

Management 3320Chapter 1Gaining a competitive advantageCompetitiveness companys ability to maintain and gain market shareoNeed an edge over companyHuman resource management the policies practices and systems that influence employees behavior attitudes and performanceHRM practices for the semesteroAnalysis and design of workDifferent positions have different responsibilities Breaking down each job and determining whats necessary for each joboHR planning and recruitment chapter 5Determine what you need and whoRecruit them oSelection and placement Select a person for the joboTraining and developmentHave to train employees so they know exactly what theyre doingGive them a chance to show what they gotNeed to do this to keep employees on boardoPerformance managementEvaluating and giving feedback for employee performanceoCompensation Gotta pay themEvolution of HRsto1 purpose was administrationCompensation hiring staffingetcoBusiness partnerDeveloping effective HR systemsHelping implement business plansManagement 3320oStrategic partnerContributing to business strategy based on internal and external considerationsNot just administrative anymoreoAdministrative going downBecausetechnology selfservice everything is online outsourcingbenefits payrolloStrategic partner going upBecauseshifting focus from current operations to future strategies and preparing nonHR managers to develop and implement HR practicesTalent management the systematic planned strategic effort by a company to attract retain develop and motivate highly skilled employees and managersChallenges facing HRMoEconomyStructure might have to change the way they do things based on ecomonyGrowth in professional and service occupations less need for manufacturingSkill demands changes skill sets of people are gonna have to changeKnowledge more valuable Intangible assets cant touch not physical human capitalKnowledge workers contribute not through labor but through knowledgeEmpowerment give them more responsibility and authority to make decisionsoEmployee engagement how much employees are fully involved in their work and the strength of their job and commitmentOnly 11 have high levels of thisSelect good employees and provide feedbackoChanging demographicsInternal labor force in the companyExternal labor force looking for jobsUS workforce aging rapidly baby boomersInfluence of immigration how do they fitCatch 22
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