Exam 1 Review

Exam 1 Review - HRM1101 Introduction to Organizations &...

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1 HRM1101 Introduction to Organizations & Management Exam #1 Review Temple University Fox School of Business Instructor: Kate Nelson
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2 Sectors Public Private Academia NGOs
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3 Sectors Public Sector Government organizations on any level (state, local, regional, national) Private Sector Corporations, banks, non-profits, etc. Academic Sector Schools, colleges, universities AND NGOs (non-government organizations) Global, belonging to no country International Red Cross, CARE
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4 Public vs. Private Organizations Public companies: Can raise capital with stock offerings and bonds Can offer stock and stock options to management as compensation Goal: to enrich shareholders via dividends and value of stock Public disclosure of performance and financials (10K and annual report) Regulations and regulators - such as Sarbannes-Oxley Private companies: Stock is owned by a few (often family); sometimes offered to employees - NOT publicly traded Not required to disclose much, if any financial information to the public Many regulations do NOT apply, such as Sarbannes-Oxley
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5 For Profit vs. Non-Profit For-Profit Companies Companies are “for profit” unless specifically called non- profit Any commercial enterprise Non-Profit Companies Non-commercial organizations that serve private interests or public concerns - arts, charities, education Usually supported by tax deductible donations Non-profits are tax exempt Lots of regulations governing their operation
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6 The View from 40,000 Feet What are the challenges of the new economy? Intellectual capital Globalization Technology Diversity Ethics Careers
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7 How organizations are changing Preeminence of technology Demise of “command-and- control” Focus on speed Embrace of networking Belief in empowerment Emphasis on teamwork New workforce expectations Concern for work-life balance
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8 Work Evolution 1800s 1930s-1950s 1990s to present • Robber barons No worker “rights” • No unions No benefits • Employment at will • Low wages Factories are new • No corporate governance • Few gov’t regulations No information sharing • Mostly physical labor Owner is key • Customers have few rights • Regulatory orgs established Corporate governance begins • Unions protect many workers • Companies begin benefits • Wages rise • Employment at will for non- union • Workers have “rights” • Manufacturing is huge Managers rarely share information • Hierarchy is key • Customers become important and have “rights” • New regs (SOX, etc.) Increased governance • Unions in decline Wages rise • Benefits change • “Employer of choice” Knowledge work is huge • Information flows “War for Talent” • Network is key Customers service is critical • Employment at will
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9 What’s Hot? The Economy
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Exam 1 Review - HRM1101 Introduction to Organizations &...

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