BU354 Chapter Notes - Chapter 1: Strategos, Balanced Scorecard, Employer Branding
Document Summary
The management of people in organizations to drive successful organizational performance and a(cid:272)hie(cid:448)e(cid:373)e(cid:374)t of the orga(cid:374)izatio(cid:374)"s strategi(cid:272) goals. Human capital is the k(cid:374)o(cid:449)ledge, edu(cid:272)atio(cid:374), trai(cid:374)i(cid:374)g, skills, a(cid:374)d e(cid:454)pertise of a fir(cid:373)"s (cid:449)orkers. The pro(cid:272)ess of (cid:862)s(cid:272)ie(cid:374)tifi(cid:272)all(cid:455)(cid:863) a(cid:374)al(cid:455)zi(cid:374)g (cid:373)a(cid:374)ufa(cid:272)turi(cid:374)g pro(cid:272)esses, redu(cid:272)i(cid:374)g produ(cid:272)tio(cid:374) (cid:272)osts, and compensating employees based on their performance levels. A management philosophy focusing on concern for people and productivity, arriving at this join focus on people and productivity involved 4 evolutionary phases. Phase 1) personnel administrators assumed responsibility for hiring and firing, ran the payroll department and administered benefits. Phase 2) scientific management movement gained momentum; operational efficiency increased but wage increases did not keep up, causing workers to distrust management. Orientation, performance appraisal and employee relations responsibilities were added to the job. Phase 3) dire(cid:272)t result of go(cid:448)er(cid:374)(cid:373)e(cid:374)t legislatio(cid:374) passed affe(cid:272)ti(cid:374)g e(cid:373)plo(cid:455)ees" hu(cid:373)a(cid:374) rights, (cid:449)ages and benefits, working conditions, health and safety and established penalties for failure to meet them.
