MGT 3320 : Exam 1 Study Guide
Document Summary
Competitiveness- company"s ability to maintain and gain market share: need an edge over company. Human resource management- the policies, practices, and systems that influence employee"s behavior, attitudes, and performance. Talent management- the systematic planned strategic effort by a company to attract, retain, develop, and motivate highly skilled employees and managers. Intangible assets- can"t touch, not physical human capital. Internal labor force- in the company: external labor force- looking for jobs, us workforce aging rapidly (baby boomers) Influence of immigration- how do they fit: catch 22. Strategy- course of action that allow a firm to gain competitive advantage. Decisions about competition: where to compete, decide the market you want, how to compete, cost, quality, customer service, etc, with what to compete, resources you use. Strategic hrm- pattern of planned hr activities and deployment intended to enable an organization to achieve its goals. Two phases of strategic management: strategy formulation.
