exam 1 - MANAGEMENT 303 EXAM 1 1. Human Resource...

Info iconThis preview shows pages 1–3. Sign up to view the full content.

View Full Document Right Arrow Icon
MANAGEMENT 303 EXAM 1 1. Human Resource Management: policies, practices, and systems that influence employees’ behavior, attitudes, and performance. HRM is strategic. Effective HRM enhances company performance by contributing to employee and customer satisfaction, innovation, productivity, and development of favorable reputation in the firm’s community. 2. HR Practices: - Analysis and design of work - HR planning: determining HR needs - Recruiting - Selection - Training and Development - Compensation - Performance Management - Employee Relations: creating a positive work environment HR Functions (Responsibilities?): - Employment and recruiting - Training and development - Compensation - Benefits - Employee services - Employee and community relations - Personnel records/Health and safety - Strategic planning 3. Changing nature of HR: only recently have companies looked at HRM as a means to contribute to the profitability, quality, and other business goals through enhancing and supporting business operations. - The amount of time that the HRM function devotes to administrative tasks is decreasing - Technology self service: employees can access HR info online - Outsourcing hiring a third party vendor to perform certain services. Why? To save money and time so that HR can focus on strategic business issues - Taking on roles such as strategic business partner, change agent, and employee advocate - Strategic business issues tackled by HR – identifying new business opportunities, assessing possible merger, acquisition, or diversity strategies, recruiting and developing talent - HR has changed from reactive to proactive. In the past HR was used to deal with specific issues employees had 4. Environment of HR Economic changes impacting HR - The recession has caused organizations to downsize, delay plans for new operations and growth, and revisit HR budgets to cut unnecessary costs/programs. Employees are delaying retirement and recently retirees are returning to work. - Ebusiness taking over administrative and transactional tasks
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
- Growth in professional and service occupations raising the demand for skill and knowledge - Increased value on intangible assets and human capital in order to gain a competitive advantage. Intangible assets: human capital, customer capital, social capital, and intellectual capital. Human capital: tacit knowledge, education, work related know how, work related competence. Selection and training directly impact human capital; how companies treat their employees matters. Knowledge workers are people who know the customers or specific information that must be shared and brought to the group so people can collaborate; knowledge labor rather than manual labor. Empowering employees by giving them authority to make decisions makes
Background image of page 2
Image of page 3
This is the end of the preview. Sign up to access the rest of the document.

This document was uploaded on 10/27/2011 for the course MKT 291 at Miami University.

Page1 / 6

exam 1 - MANAGEMENT 303 EXAM 1 1. Human Resource...

This preview shows document pages 1 - 3. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online