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.
Traditionalists
Individuals born before 1946
Baby Boomers
Individuals born between 1946-1964
Generation X
Individuals born between 1965-1980
Generation Y
Individuals born between 1980
Contingent/non-standard workers
Workers who do not have regular or full-time employment status
Globalization
The emergence of a single global market for most products and services
Organizational Culture
The core values, beliefs, and assumptions that are widely shared by members of the organization
Organizational Climate
The prevailing atmosphere that exists in an organization and its impact on employees
Empowerment
Providing workers with the skills and authority to make decisions that would traditionally made by the managers
Operational HRM
traditional HRM that includes administrative responsibilities (e.g., payroll, selection, compensation, training, etc.)
Strategic HRM
contemporary HRM that participates in setting up a strategic plan for organizations and executes that plan (e.g., designing strategies to attract top talent to gain competitive advantage!)
Business Ethics
comprises principles, values, and standards that guide behavior in the world of business
Personal Ethics
comprises principles, values, and standards that guide your behavior in the world
Principles
are specific and pervasive boundaries for behavior that universal and absolute.
Values
are used to develop norms that are socially enforced.
Ethical Intelligence
Do not harm, Make things better, Respect others, Be Fair, Be loving
Distributive Justice
Fairness of a decision outcome
Procedural Justice
Fairness of the process used to make a decision
Interactional Justice
Fairness in interpersonal interactions by treating others with dignity and respect
Informational Justice
Was there fairness in information used to justify the change, decision, strategy, outcome, etc.
