8) This book covers four human resource management practices: managing the human resource environment, acquiring and preparing human resources, assessment and development of human resources, and compensating human resources. Which area do you believe contributes most to helping a company gain a competitive advantage? Which area do you believe contributes the least? Why? Each student’s answer will vary to this question based on opinion. An example can be: Acquiring and preparing human resources is the most important HRM practice because well trained employees are the most important aspect of a business. On the other hand, compensating human resources is not at all important because money is not what drives all employees. However, contradictory arguments can be made for each of these points as well. 9) What is the balanced scorecard? Identify the four perspectives included in the balanced scorecard. How can HRM practices influence the four perspectives? The balanced scorecard gives managers an indication of the performance of a company based on the degree to which stakeholder’s needs are satisfied. This gives managers the opportunity to look at the company from the perspective of internal, external, employees, and shareholders. Communicating the scorecard to employees gives them a framework that helps them see the goals and strategies of the company, how these goals are measured, and how they influence the critical indicators. 10) Is HRM becoming more strategic? Explain your answer. Technology is allowing the typical HRM to steer away from everyday tasks to focus more on the strategic side. Self-service, empowerment, and outsourcing is also increasing strategic roles. There is an increase in managers in charge of human
resource function being included on high-level committees that are shaping the strategic direction of the company. 11) What is sustainability? How can HR practices help a company become more socially and environmentally conscious? Sustainability is the ability of a company to survive in a dynamic competitive environment. It is based on an approach to organizational decision making that considers the long-term impact of strategies on stakeholders.HR can help by championing, implementing and managing programs, including community volunteer programs, and raise employee awareness and encourage a spirit of social consciousness 12) Explain the implications of each of the following labor force trends for
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