Learning Objectives Master File 8.24.10

Learning Objectives Master File 8.24.10 - Chapter 1 The...

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Chapter 1 – The Challenge of Human Resource Management 1. What is the difference between human capital and human resources management? 2. Explain how globalization is influencing human resource management. 3. Describe the challenges in managing human capital. 4. Discuss the primary social issues in managing people. Chapter 2 – Supply and Demand in Labor Markets 1. Demonstrate basic knowledge of the workings of a labor market by: a. Graphing supply and demand b. Identifying and interpreting the meaning of equilibrium c. Identifying the difference between a shift in the curve and a movement along the curve as well as what factors cause a shift. 2. Identify factors that would cause the labor supply and labor demand curves to shift and how those factors affect the equilibrium level of wages and employment. 3. Describe the ways in which both government and culture can affect both the supply and demand for labor, and analyze the impact on wages and employment. 4. Locate labor supply statistics for a metropolitan area. 5. Identify the various roles that available labor supply has on firm strategies (i.e. location decisions, internal strategic planning, compensation, and benefit policies). 6. Discuss and be able to calculate the following: marginal product (of labor), marginal revenue product, marginal cost, and optimal labor demand for a firm. 7. Describe how and why the marginal product of labor diminishes with the continued addition of labor input. 8. Generate a graph of labor demand using several wage/quantity combinations. 9. Describe how changes in price, technology and decisions about how to organize a firm’s human resources will influence these calculations and shift the demand for labor curve. 10. Describe the concept of “derived demand” as it applies to labor. Chapter 2 – Labor Relations 1. Discuss the benefits and costs of unions to employers and employees. 2. Describe trends in unions organizing in the US 3. Identify economic conditions that facilitate success of unions 4. Describe the role of collective bargaining and its implications for people and organizations. 5. List the major provisions of: a. National Labor Relations Act of 1935
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b. Taft-Hartley Act of 1947 c. Landrum-Griffin Act of 1959 Chapter 3 – Employment Issues 1. Explain how the labor force participation rate is calculated and what it means. Identify factors that affect how individuals choose their level of labor market participation. 2. Explain and differentiate the different types of unemployment. 3. Explain how the unemployment rate is calculated, what it means, and weaknesses to the calculation. 4. Explain education, age, sex, race, and unions as factors of unemployment. 5. Describe discouraged workers, categories of unemployed workers, and underemployment.
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