Flashcards in Chapter 1 Deck (23)
How can companies gain a competitive advantage through human resources?
By managing their people in ways that add value to the organization but are difficult for other companies to duplicate.
How do organizations use an integrative framework for managing human resources?
Organizations use a strategic approach that involves creating HR policies and practices that are consistent with each other and integrate with the external and organizational environments.
What is the HR Triad?
Line managers, HR professionals, and all other employees in the organization
What is the strategic importance of managing human resources?
The more effectively a firm manages its human resources, the more successful the firm is likely to be.
What are the five special themes in managing human resources?
Managing teams, managing the multicultural workforce, managing globalization, managing ethics and corporate social responsibility, managing with metrics
What are two current issues in managing human resources?
Social media: how can it be monitored or controlled; how can it be used to the company's advantage?
Complexity and uncertainty: HR professionals can make a positive difference by ensuring the process of managing human resources is efficient and effective as possible.
Individuals or groups with interests, rights, or ownership in an organization and its activities
Relatively easy to measure - include assets such as inventory, equipment, real estate, and financial assets
Intangible human assets
Comparatively social in nature and include such organizational characteristics as an employer-of-choice reputation, the depth of employee talent and loyalty, and the ability to innovate and change
Multinational corporations (MNCs)
Firms with operations in multiple countries
Sustainable competitive advantage
A company's advantage in the market is difficult for competitors to understand and copy
All of the people who currently contribute to doing the work of the organization, as well as those people who potentially could contribute in the future, and those who have contributed in the recent past
Human resource (HR) activities
The formal HR policies developed by the company as well as the actual ways these policies are implemented in the daily practices of supervisors and managers
Human resource management (HRM) system
Created by an organization when they systematically understand, create, coordinate, align and integrate all of their policies and practices
Consists of HR professionals, line managers, and all of the other employees who are affected by HR policies and practices
Human resource (HR) professionals
People with substantial specialized and technical knowledge of HR issues, laws, policies, and practices
Human Resource Certification Institute (HRCI)
Best known certification provider for HR professionals
The World Federation of Personnel Management Associations (WFPMA)
links country- and region-specific professional associations around the world
Society of Human Resource Management (SHRM)
an association for HR professionals in the United States that has local chapters in most cities as well as many student chapters
HR Profession's code of ethics
states that HR professionals must regard the obligation to implement public objectives and protect the public interest as more important than blind loyalty to an employer's preferences
refers to a process in which companies in countries around the world are increasingly linked by their activities and the opportunities they provide each other
refers to a set of technologies and communication channels targeted at forming and enabling a potentially massive community of participants to productively collaborate