Chapter 1_1

Chapter 1_1 - WCOB 2033 ACQUIRING AND MANAGING HUMAN...

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WCOB 2033 ACQUIRING AND MANAGING HUMAN CAPITAL
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Course Objectives This course prepares students to: Recognize the importance of human capital in society and in business organizations Understand the challenges inherent to managing human capital effectively Critically assess their knowledge about human capital and the limitations of that knowledge
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Course Objectives (cont’d) Be proactive in seeking broader knowledge regarding human capital Develop frameworks for taking action when faced with ambiguous human capital challenges Critically assess themselves as human capital and use this information for self development
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Competitive Advantage A firm has a competitive advantage when all or part of the market prefers the firm’s products and/or services Because competition is the name of the game, companies seek ways to compete that can last a long time and cannot be easily imitated or copied by competitors. That is known as a “sustainable competitive advantage”
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Competitive Advantage through People Sustained competitive advantage through people is achieved if these human resources: Have value Are rare and unavailable to competitors Are difficult to imitate Are organized for synergy What are some sources of a SCA?
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Human Capital Human capital is: The knowledge, skills, and capabilities of individuals that have economic value to an organization Why is what we just talked about important? What activities are included in HRM?
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HRM Activities HR planning Recruitment and retention Staffing Selecting employees to fit the job and organization Job design Training/development Performance appraisal Measuring performance and providing feedback Communications Compensation To motivate employees Benefits Labor relations
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Competitive Challenges and HRM The most pressing competitive issues facing firms: Going global Embracing technology Managing change Developing human capital Responding to the market Containing costs
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Going Global Globalization The trend toward opening up foreign markets to international
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Chapter 1_1 - WCOB 2033 ACQUIRING AND MANAGING HUMAN...

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