CHAPTER 3: MANAGING PEOPLE Flashcards
What are intangible people resources?
Intangible people resources refer to the non-physical assets that contribute to a company’s competitive advantage, such as employee skills, relationships, and organizational culture.
Why can intangible resources provide a competitive advantage?
Intangible resources can provide a more competitive advantage than tangible resources because they are often unique, difficult to replicate, and can enhance customer loyalty and employee engagement.
What is servant leadership?
Servant leadership is a leadership philosophy where the primary responsibility of an employee is to be of service to others, emphasizing the importance of supporting and empowering team members.
How do employees and customers relate as profit drivers?
Both employees and customers are considered profit drivers because their satisfaction and engagement directly impact the profitability and success of a business.
What is the significance of empowerment in managing people?
Empowerment involves giving employees the authority and responsibility to make decisions, which can lead to increased motivation, job satisfaction, and overall performance.
What are some examples of supplemental benefits that can enhance employee satisfaction?
Examples of supplemental benefits include employee discounts, insurance and retirement benefits, child care, and push money.
What is the first step in obtaining the right people for an organization?
The first step is to identify and define the specific skills and qualities needed for the roles within the organization.
What are employee sources?
Employee sources refer to the various channels through which potential candidates can be recruited, such as job postings, recruitment agencies, and employee referrals.
What is customer relationship management (CRM) in the context of obtaining the right people?
CRM involves strategies and tools used to manage interactions with potential and current customers, ensuring that the right customers are engaged and retained.
Why is screening and selecting employees important?
Screening and selecting employees is crucial to ensure that the candidates not only possess the necessary skills but also fit the company culture and values, leading to better retention and performance.
What role do customer sources play in obtaining the right people?
Customer sources involve identifying and targeting the right customer segments that align with the business’s goals, ensuring a mutually beneficial relationship.
What is the significance of screening and selecting customers?
Screening and selecting customers helps businesses identify those who are most likely to contribute positively to the company’s success and profitability, fostering long-term relationships.
What is the primary goal of managing people in an organization?
The primary goal is to maximize employee performance and satisfaction while aligning their contributions with the organization’s objectives.
What are some key components of employee management?
Key components include recruiting, training, motivating, evaluating, and compensating employees effectively.
How does training and developing employees contribute to management?
Training and developing employees enhance their skills and knowledge, leading to improved performance and job satisfaction, which benefits the organization.
