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HRM 361 (Stephanie) > Chapter 1 > Flashcards

Chapter 1 Flashcards

1
Q

Designing formal systems in an organization to manage human talent for accomplishing organizational goals. (FUNCTIONAL)

A

Human Resources

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2
Q

A unique capability that creates high value for a company or an area of strength.

A

Core Competency

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3
Q

Physical asset - building, land, furniture, computers, vehicles, equip.

Financial asset - cash, financial resources, stocks, bonds, debt.

Intellectual property asset - research, patents, information systems, designs, operating process, copyright.

Human asset - individuals with their talents, capabilities, experiences, professional expertise, relationships.

A

The (4) Organizational Assets

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4
Q

The collective value of the capabilities, knowledge, skills, life experiences, and motivation of an organization’s workforce.

A

Human Capital

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5
Q

Divide the average cost of a worker by their average levels of output. (USED TO MEASURE PRODUCTIVITY)

A

Unit Labor Cost

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6
Q

Measure of the quantity and quality of work done, considering the cost of the resources used.

A

Productivity

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7
Q

Non Traditional schedules that provide flexibility to employees.

A

Alternative Work Arrangements

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8
Q

Shared mind-set of a group of people that distinguished them from others

A

Culture

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9
Q

a person who has responsibility for performing

a variety of HR activities.

A

HR Generalist

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10
Q

A person who has in-depth knowledge and expertise in a specific area of HR.

A

HR Specialist

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11
Q

involves transferring the management and performance of a business function to an external service provider.

A

Outsourcing

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12
Q

occurs when a company relocates a business process or operation from one country to another.

A

Offshoring

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13
Q

the fundamental principles by which employees and

companies interact.

A

Ethics

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14
Q

“Is a set of interrelated policies, practices, and programs whose goal is to attract, socialize, motivate, maintain, and retain an organization’s employees”

A

HRM – functional definition

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15
Q

“aims to improve the productive contribution of individuals while simultaneously attempting to attain other societal and individual employee objectives”

A

HRM – goal-based definition

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16
Q 
HR effectiveness
 HR metrics
 HR technology
 HR planning
 HR retention
A

Strategy and Planning (FUNCTION)

17
Q

Compliance
Diversity
Afrmative action

A

Equal Employment Opportunity (FUNCTION)

18
Q

Job analysis
Recruiting
Selection

A

Talent Acquisition (FUNCTION)

19
Q 
Orientation
 Training
 HR development
 Career planning
 Performance
 management
A

Talent Management (FUNCTION)

20
Q

Compensation
Incentives
Benets

A

Total Rewards (FUNCTION)

21
Q 
Health and wellness
 Safety
 Security
 Disaster and
 recovery planning
A

Risk Management and Worker Protection (FUNCTION)

22
Q 
Employee rights and
 privacy
 HR policies
 Union/management
 relations
A

Employee and Labor Relations (FUNCTION)

23
Q

Advances in technology and reduced costs:
1. Mobile technology.
2. Better access to research and resources.
3. Improved machinery and operation.
4. Telecommuting.
5. Employees being constantly contactable requires
HR to develop more flexible work schedules.

A

The Technology Challenge –Where and How People Work

24
Q

Re-shaped the way we play, communicate, plan our
lives and where we work.
•Impact of the Internet
•The Internet has created new business models -
conducting business transactions and relationships
electronically

A

The Technology Challenge

25
Q
  1. To survive companies must compete in international
    markets.
  2. Be prepared to deal with the global economy. Even
    companies without international operations are
    affected by the global economy.
  3. Competitiveness is being enhanced through
    strategic alliances, mergers and acquisitions.
A

The Global Challenge

26
Q
  1. Exporting products overseas.
  2. Building manufacturing facilities or service
    centres in other countries.
  3. Engaging in e-commerce.
  4. Struggling to find and retain talented employees.
  5. Increasing expatriate assignments.
A

The Global Challenge – Entering International Markets

27
Q

Exporting jobs from developed countries to less
developed countries.

Attractive due to lower labor costs, but…

  1. Will levels of customer service be the same or higher?
  2. Does offshoring demoralize domestic workers?
  3. Are local managers adequately trained?
  4. If there is political unrest, what is the effect?
  5. What is the effect of offshoring on the company’s
    image?
A

The Global Challenge – Offshoring

28
Q

Many nations function under turbulent and varied
legal and political systems

Role of HR professionals:

Conducting comprehensive reviews of the political
environment and employment laws before beginning
operations in a country

A

The Global Challenge - Legal and Political Factors

29
Q 
1. Increased competition (competition, cost 
pressures, and restructuring) 
2. A changing workforce
3. Globalization 
4. Technology
A

Challenges Influencing HRM

30
Q

Employment and occupational growth projections and skill requirements

a. Job Shifts
b. Skills shortage

A

Increased competition

31
Q

Use of part-time employment and alternative work
arrangements:

independent contractors, on-call
workers, temporary workers, and contract company
workers who are not employed full-time by the
company.

A

Increased competition

32
Q

Aging of the Workforce

Large numbers of baby boomers who are approaching
retirement age but there is an increasing tendency for
older workers to keep working

Healthier, longer lives

Well educated

A

A changing workforce

33
Q

Increased Diversity of the Workforce

More women entering the workforce

Non traditional careers paths

Generational differences in the workforce

Employment rate for people with disabilities has
been increasing

A

A changing workforce

34
Q

Company culture that values diversity and is respect-
based

HR systems are free of bias

Ensure all employees have career opportunities

Promote knowledge of cultural differences and the
benefits of diversity

Deal with resistance to diversity

A

A changing workforce - implications for HRM

35
Q

The organization
Individual employees
Society

A

The (3) stakeholder-approach to HRM

36
Q

Primary objective of HRM is to contribute to
organizational effectiveness

HRM practices should aim to increase productivity

A

HRM Organizational Objectives

37
Q

Assist employees in achieving personal goals
◦Short-term performance goals and long-term career
goals

Can be challenging to balance individual and
organizational goals
◦E.g., when training results in employees developing
skills that are attractive to other organizations
21

A

HRM Employee Objectives

38
Q

HRM must be socially responsible

◦Contribute to meeting the needs and challenges of
society

◦Narrowly - legal compliance

◦Broadly - concern with human rights, environmental
and social responsibility, etc.

A

HRM Societal Objectives

39
Q

Administrative: Focusing on clerical administration and recordkeeping, including essential legal paperwork and policy implementation

Operational and employee advocate: Managing HR activities based on the strategies and ­operations that have been identified by management and serving
as “champion” for employee issues and concerns

Strategic: Helping define and implement the business strategy relative to human capital and its contribution to the organization’s results

A

PAST: FUTURE:
Administrative Strategic

Operational/ Operational/
Employee Advocate Employee Advocate

Strategic Administrative

HRM 361 (Stephanie) (4 decks)

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