chapter1 - BUS*3000- Human Resources Management Exam...

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BUS*3000- Human Resources Management Exam Review- chapters; 1,2, 4,5,6,7,8,9,10,11,12,13,14,15 CHAPTER 1- THE STRATEGIC ROLE OF HUMAN RESOURCES MANAGEMENT Human resources management (HRM): the management of people in organizations to drive successful organizational performance and achievement of the organization’s strategic goals. - HRM responsible for ensuring that organization attracts, retains and engages diverse talent required to meet operational and performance commitments made to customers and shareholders - Creates productive work environment, continuously building , monitoring and managing human assets - Takes on such tasks as ; recruitment, performance, appraisal and compensation- all inline with companies strategic plan - Firms workers present human capital Human capital: the knowledge, education, training, skills, and expertise of an organization’s workforce - past research shows positive correlation between effective HR practices and better organizational performance - high performance HR shown to be linked with; low turnover, productivity, and corporate financial performance. Human Resources Management Responsibilities - HR responsibilities and activities falls under two categories; operational ( administrative) and strategic category - Operational (administrative) includes; hiring and maintenance and employee separations - Requires HR staff to be administrative experts and employee champions - Strategic strategy includes HR focus on ensuring most effective human capital is staffed to achieve organizations strategic goal - Requires HR staff to be strategic partners and change agents Operational Responsibilities - line manager has different responsibilities in relation to employees as they move through stages of human- capital life cycle - the human-capital cycle consists of; selection, assimilation into organization, development of capabilities while working within organization, and transition out of organization - recent years, trend is to outsource majority of operational activities so HR focus on strategic strategy outsourcing: the practice of contracting with outside vendors to handle specified functions on a permanent basis. - though outsourcing common, it is ever increasing in HR functions that include; pension, benefits administration, recruitment, management development and training.
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Strategic responsibilities - focus on strategic responsibilities increasing – as to traditional administrative responsibilities - involves balancing internal strengths and weaknesses with external opportunities and threats to maintain competitive advantage ( a company’s strategy) strategy: the company’s plan for how it will balance its internal strengths and weaknesses with external opportunities and threats in order to maintain a competitive advantage. -
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This note was uploaded on 02/13/2012 for the course BUS 3000 taught by Professor Onyura during the Spring '11 term at University of Guelph.

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chapter1 - BUS*3000- Human Resources Management Exam...

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