Chapter 1-The Strategic Role of Human Resource Management Flashcards
Human Resources Management (HRM)
The management of people in organizations to drive successful organizational performance and achievement of the organization’s strategic goals.
Human Capital
The knowledge, education, training, skills, and expertise of an organization’s workforce.
Scientific Management
The process of “scientifically” analyzing manufacturing processes, reducing production costs, and compensating employees based on their performance level.
Human Resources Movement
A management philosophy focusing on concern for people and productivity
Outsourcing
The practice of contracting with outside vendors to handle specified business functions on a permanent basis.
Employee Engagement
The emotional and intellectual involvement of employees in their work such as intensity, focus, and involvement in his or her job and organization.
Strategy
The company’s plan for how it will balance its internal strengths and weaknesses with external opportunities and threats to maintain a competitive advantage.
Change Agents
Specialists who lead the organization and its employees through organizational change.
Environmental Scanning
Identifying and analyzing external opportunities and threats that may be crucial to the organization’s success.
Metrics
Statistics used to measure activities and measure activities and results. Measures the value of HR.
Balanced Scorecard
A measurement system that translates an organization’s strategy into a comprehensive set of performance measures.
Productivity
The ratio of an organization’s outputs (goods and services) to its inputs (people, capital, energy, and materials)
Primary Sector
Jobs in agriculture, fishing and trapping, forestry, and mining.
Secondary Sector
Jobs in manufacturing and construction.
Tertiary or Service Sector
Jobs in public administration, personal and business services, finance, trade, public utilities, and transportation/communications.