chap 1 (simplified) Flashcards
What is a mission statement?
Defines the core purpose of an organization.
What is a vision statement?
Describes what the organization aspires to become in the future.
What are organizational values?
Core principles guiding behavior, decisions, and actions.
Give an example of a mission statement.
To provide high-quality, innovative tech solutions.
Give an example of a vision statement.
To be the world’s leading provider of technology solutions.
Give three examples of organizational values.
Integrity, Innovation, Customer Focus.
What does efficiency mean in HR?
How well resources (time, money, personnel) are used to achieve HR goals.
What does effectiveness mean in HR?
The ability to achieve desired outcomes and goals.
What is a key question to reflect on workplace satisfaction?
Were you satisfied or dissatisfied? Why?
What is Human Resources Management (HRM)?
An integrated set of systems, practices, and policies to deploy and develop employees effectively.
Why is HRM important?
Ensures an organization has the right people in the right places doing the right things at the right time.
List three key reasons to study HRM.
Career opportunities, understanding people & organizations, developing leadership skills.
What does ‘CARES’ stand for in HRM roles?
Coach, Align, Recruit, Engage, Safeguard.
How does the global economy impact HRM?
Companies operate internationally, requiring global workforce skills.
What are key business changes affecting HRM?
Export needs, environmental concerns, downsizing, outsourcing, independent contractors.
How does technology impact HRM?
Reduces administrative work, enables telecommuting, improves processes.
What is human capital?
The value employees bring to an organization through knowledge, skills, and abilities.
What are innovation skills?
Creativity, problem-solving, adaptability, risk-taking, communication, implementation.
What demographic trends impact HRM?
Diversity, generational differences, labor shortages, gender distribution, education levels.
What is work-life balance?
Maintaining personal and professional responsibilities effectively.
What is the gig economy?
A job market where employees have multiple part-time jobs instead of one full-time job.
