Management and Organizational Studies 3342A/B Chapter Notes -Human Capital, Workflow, Cost Leadership

• School: Western University
• Department: Management and Organizational Studies
• Course: Management and Organizational Studies 3342A/B
• Professor: Linda Eligh

Document Summary

All 3 of their strategies emphasize outstanding employee performance and commitment. Google offers generous stock options and very good benefits packages; downplays cash compensation. Medtronic"s pay strategy is total well being ; emphasis on performance based pay opportunity to earn more. Merrill lynch is focused on attracting, motivating and retaining the best talent; competitive base pay, aggressive bonuses and stock awards. Aggressive approach may lead to too much risk taking and unethical behaviours. When different units in same company have different compensation. Strategic perspective: focus on compensation decision that help the organization gain/sustain competitive advantage. Strategy: decisions an organization has made to achieve its strategic objectives. Competitive advantage: a practice/process that results in better performance than competitors. Innovator stresses new products; incentive based on innovation. Make pay system align with strategy; firm strategy with hr strategy. Cost cutter focus on efficiency; focus on productivity. Michael porter - cost cutting= cost leadership.