COMMERCE 2BC3 Chapter Notes - Chapter 2: Cost Leadership, Hierarchical Organization, Human Capital
4 Mar 2014
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Human resources chapter 2: strategic human resource management. The goal of strategic management in an organization is to deploy and allocate resources in a way that gives it a competitive advantage. Two of the three classes of resources are directly tied to the hr management function. The role of hr management is to ensure that a company"s human resources provide a competitive advantage. A business model is a story of how the firm will create value for customers and more importantly, how it will do so profitably. Contribution margins or margins are the difference between what to charge for your product and the variable costs of that product. They are called contribution margins because they are what contributes to your ability to cover your fixed costs. The gross margin is the total amount of margin you made and is calculated as the number of units sold times the contribution margin.
