MGI 301 Study Guide - Midterm Guide: Equal Employment Opportunity, Reasonable Accommodation, Equal Employment Opportunity Commission
7 Oct 2017
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Human capital: knowledge, skills, and capabilities of individuals that have economic value to an organization. Intangible and cannot be managed the way organizations manage jobs, products, and technologies. Organizations should utilize employee knowledge and invest in their development. Labor force adjustments-> cost cutting, improve quality, expand market share&product lines. Offshoring: sending jobs/work to other countries ->skills and labor, raw mat (*wage arbitrage) Outsourcing: hiring outside the company to perform processes previously done within the firm. Firm"s demand requirement, strategic decision, competition/ hiring part-time. Homeshoring: relocating jobs back to home/ domestic market. Furloughing: practice of requiring employees to take time off for either no pay or reduces pay. Strategic planning: procedures for making decisions about the organization"s long-term goals and strategies human resources planning (hrp): process of anticipating and providing for the movement of people into, within, and out of an organization. Strategy formulation - provides input as to what is possible given the types and numbers of people available.
