HRM 2600 Chapter Notes - Chapter 1: Six Sigma, Human Capital, Strategic Management

• School: York University
• Department: Human Resources Management
• Course: HRM 2600
• Professor: Christa Wilkin

Document Summary

Human resources management process of managing human talent to achieve an orga(cid:374)izatio(cid:374)"s o(cid:271)je(cid:272)ti(cid:448)es. Great business strategies, plans, and products/services can be easily copied by your competitors, great personnel cannot. Human capital e(cid:272)o(cid:374)o(cid:373)i(cid:272) (cid:448)alue of e(cid:373)ployees" k(cid:374)o(cid:449)ledge, skills, a(cid:374)d (cid:272)apa(cid:271)ilities. If valued employees leave a company, they take their human capital with them and any investment the company has made in training and developing in these people is lost. Hrm must deal with competitive challenges discussed below as well as employee concerns such as family concerns, employee rights, retirement issues, etc. With global competition and continuous innovation, adaptability is required for organizations to survive. Six sigma set of principles and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement. Reengineering fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed.