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Chapter 1

COMMERCE 2BC3 Chapter Notes - Chapter 1: Knowledge Management

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Chapter 1
-Human-resource management: refers to the policies, practices, and
systems that influence employees behaviors, attitudes, and
-HRM practices include analyzing and designing work, determining
human resource needs, attracting potential employees, choosing
employees, teaching employees how to perform their jobs and
preparing them for the future, rewarding employees, evaluating their
performance, and creating a positive work environment
What responsibilities and roles do HR departments perform?
- training and development, compensation, benefits, employee services, employee and
community relations, personnel records, health and safety, and strategic planning
Six competencies of HR profession:
- the challenge
sustainability, the global challenge, and the technological challenge are big in
terms of things companies now face
- sustainability: company’s ability to survive and succeed in a dynamic competitive
environment, without sacrificing the resources of its employees, community, and
ability to deal with economic and social changes, engage in
responsible and ethical business practices, provide high-quality
products and services
Economic Changes
- Canadian employers are concerned not with survival in the economy, but rather
sustainable growth
- Increase value placed on intangible assets (intellectual capital) and human capital
(used for competitive advantage)
- Changes in employment expectations: as a result of new technologies,
competitors, and customer demands. Employees are expected to take more
responsibility for their careers and lives and be more productive and in return
companies provide flexible work schedules, comfortable working conditions
- Concerns with employee engagement: engagement to their job
- Talent management: systematic planned strategic effort by companies to attract,
retain, develop, and motivate highly skilled employees and managers
- Use of part-time employment and alternative work arrangements
- Demanding work, but with more flexibility
Meeting the Needs of Stakeholders, Customers, Employees and Community
- a balanced scorecard: means of performance measurement that gives managers an
indication of the company’s performance based on the satisfaction of stakeholders
Changing demographics of workforce
- the average age of the workforce will increase
- workforce will become more diverse in terms of gender, rage of abilities, and
racial composition
- e-HRM: processing and transmission of digitized information used in HRM
- human resource info system: system used to acquire, store, manipulate, analyze,
retrieve and distribute information related to a companys human resources
Categories of HRM Activities and time spent on them
Transactional activities: day-to-day transactions such as benefits administration, record
Traditional activities: performance management, recruiting, training, selection, and
Transformational activities: long-term capability and adaptability for the firm (knowledge
management, cultural change)