CH 1 - World of Human Resources Management

Question 1

Human Capital -

Answer 1

the knowledge, skills, and capabilites of individuals that have economic value to an organization

Question 2

Human Resource Managment (HRM)

Answer 2

the process of managing human talent to achieve an organization’s objectives

Question 3

HRM - Challenges/issues

Answer 3

1. 1. Disruptions due to Covid-19
2. Corporate Social Responsibility
3. Advancing HRM with Technology
4. Containing costs while retaining top talent and maximizing productivity
5. Demographic and diversity challenges
6. Adpating to Educational and Cultural Shifts Affecting the Workforce

Question 4

Disruptions due to Covid-19

Answer 4

organizations have had to brainstorm, evaluate, and significantly revise their organizations people strategy while attempting to continue to operate efficiently

Question 5

Strategic planning

Answer 5

has become more crucial - orgranizations are increasingly required to be more agile and efficient in adapting their business plan for the future of work

Question 6

HRM business strategies:

Answer 6

1. six sigma
2. reengineering
3. downsizing
4. outsourcing
5. change management

Question 7

Six Sigma

Answer 7

is a set of principals and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement

Question 8

Reengineering

Answer 8

is the fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed

Question 9

Downsizing

Answer 9

planned elimination of jobs

Question 10

Outsourcing

Answer 10

is contracting out work that was formerly done by employees

Question 11

change management

Answer 11

is a systematic way of brining about and managing both organizational changes and changes on the individual level

Question 12

2 Types of change management

Answer 12

• reactive change
• proactive change

Question 13

Reactive changes

Answer 13

changes that occur after external forices have already affected performance

Question 14

Proactive change

Answer 14

change initiated to take advantage of targeted opportunities

Question 15

Globalization

Answer 15

the trend to opening up foreign markets to international trade and investments

Question 16

How Globalization Affects HRM

Answer 16

different cultures, employment laws, and business practices
- gauge knowledge of international workers
- best train
- relocating managers
- deal with culture shock

Question 17

Corporate social responsibility

Answer 17

• the responsibility of the firm to act in the best interests of the people and communities affected by its activities

Question 18

Sustainability

Answer 18

doing business in a way that does little harm to the environment and depletes as few natural resources as possible

Question 19

Green Human Resource Managment (GHRM)

Answer 19

is a growing phenomenon and refers to the unification or environmental HRM policies and sustainable business practices

Question 20

Collaborative softwate

Answer 20

is software that allows workers to interface and share information with one another electronically

Question 21

Tech external -

Answer 21

attract right employees, gather information, build company brand, give face to the company

Question 22

Tech internal

Answer 22

become more engaged and connected to the organizations culture, mission/vision, and overall goals, can be used to manage talent, and allow for greater collaboration among employees

Question 23

Knowledge workers

Answer 23

workers whose responsibilities extend beyond the physical execution of work to include planning, decision making, and problem solving

Question 24

Influence of Technology on HRM

Answer 24

• Human resources information system (HRIS) I
  -Workforce (HR) analytics

Question 25

Human resources information system (HRIS)

Answer 25

is a computerized system that provides current and accurate data for the purposes of control and decision making

Question 26

usefulness of HRIS

Answer 26

Automates routine activities, reduces costs, improves productivity, helps people connect with HR data they need, uses big data which is massive amounts of data that are too large for conventional database tools or statistical software to collect, save, manage, and examine

Question 27

Workforce (HR) analytics

Answer 27

the process of gathering and analyzing data to improve a firm’s human resources management Employment history, skills, education, demographics, hours worked, compensation, performance, training

Question 28

Big data can be used in recruitment and selection -

Answer 28

pre populate demographic questions and factual rather than self-reported experiences and activities such as professional memberships and associations

Question 29

Downsizing - hidden costs

Answer 29

Severance and rehiring costs, accrued vacation and sick-day payouts, pension and benefit payoffs, potential lawsuits from aggravated workers, loss of institutional memory and trust in management, lack of staffers when the economy rebounds, survivors who are risk averse, paranoid, and political

Question 30

Downsizing benefits -

Answer 30

Fierce loyal and more productive workforce, higher customer satisfaction, readiness to snap back with the economy, a recruiting edge, workers who are not afraid to innovate, knowing that their jobs are safe

Question 31

Furloughing

Answer 31

a situation in which an organization asks or requires employees to take time off for either no pay or reduced pay

Question 32

Outsourcing

Answer 32

delegating business processes to a 3rd party

Question 33

Offshoring

Answer 33

the business practice of sending jobs to other countries

Question 34

Homeshoring

Answer 34

the process of moving jobs to work-fromhome domestic independent contractors

Question 35

Nearshoring

Answer 35

the process of moving jobs colder to one’s home country

Question 36

Employee leasing

Answer 36

the process of dismissing employees who are then hired by a leasing company (which handles all HR-related activities) and contradicting with the comnay to lease back the employees

Question 37

Demographic and diversity challenges

Answer 37

Demographic changes, diversity and immigration challenge, age distribution of employees, gender distribution of the workforce

Question 38

Adpating to Educational and Cultural Shifts Affecting the Workforce

Answer 38

Education of the workforce Cultural changes - ones culture affects their behaviour on the job and the environment within the organization, influencing their reactions to work assignments, leadership styles and reward systems Employers have the right to monitor email and internet use at work More self employment, balancing work and family lifestyle

Question 39

Line managers -

Answer 39

non HR managers who are responsible for overseeing the work of other employees

Question 40

HR managers responsibilities

Answer 40

strategic advice and counsel, provide service, polciit formualtion and implementation, employee advociay, business mastery - know the business - financial capabilities, HR mastery - staffing, performance apprasials, rewards, change mastery - problem solving skills, innovation and creativity, personal credibility - trust, personal relationships, limited values, courage