midterm prep

Question 1

resource based view

Answer 1

the source for competitive advantage lies in valuable tangible or intangible resources the firm have at their disposal

Question 2

physical capital

Answer 2

money, offices/factories, machines, computers, location etc

Question 3

organizational capital

Answer 3

systems of routines that determine how the work is done

Question 4

human capital

Answer 4

the knowledge and skills employees in the organization possess

Question 5

social capital & social exchange theory

Answer 5

there is a strong evidence regarding the positive impact of social capital on organizational performance

Question 6

contested mobility

Answer 6

the best one will win (individual achievement)

Question 7

sponsored mobility

Answer 7

depends less on individual performance and more on being the elites

Question 8

employability theory

Answer 8

the resources that help person develop the capacities to remain employable

Question 9

employability radius

Answer 9

range of tasks you can do based on current education

Question 10

employability competence

Answer 10

competencies that help you broaden your employability radius

Question 11

contextual constraints & opportunities

Answer 11

workload, economic circumstances, societal expectations

Question 12

flexicurity theory

Answer 12

The goal is to create a balance where businesses can adapt quickly to market changes by hiring and firing more easily, while workers are provided with strong social protections and opportunities for lifelong learning and retraining.

Question 13

temporary labor shortages

Answer 13

seasonal, economic conjectures

Question 14

structural labor shortages

Answer 14

qualitative: mismatch of demand and supply (what is offered by employers and what employees are looking for
quantitative: demographics (shrinking, aging population)

Question 15

domains for HR practices

Answer 15

recruitment
employer branching
compensation
employer segmentation
performance appraisal
talent management
onboarding & socialization

Question 16

classic wage theory

Answer 16

wages determine the balance between supply and demand for labor

Question 17

neo-classic wage theory

Answer 17

no free market=no balance
frictions: information asymmetry, imperfect labor mobility, imperfect labor supply, monopsomy-one person can determine wages

Question 18

efficiency wage theory

Answer 18

higher wages for themselves in better performance
the actual value of employees is incomprehensible and employees can choose how much effort they put into work

Question 19

transactional cost theory

Answer 19

cost of developing and managing resources yourself vs. purchasing these resources ‘ready to use’

Question 20

fairness: equity theory

Answer 20

perception of fair balance between effort and rewards in an exchange relationship
cognitive withdrawal (quiet quitting)
actual withdrawal behavior (voluntary turnover)

Question 21

fairness: justice theory

Answer 21

1. distributive justice=results and outcomes
2. procedural justice =procedures, processes and policies
   3.interactional justice=sensitive to employee needs and well-being
3. informational justice=trust that the information used is correct (often viewed as a part of interactional justice)

Question 22

expectancy theory

Answer 22

individuals determine how much effort to give based on the extent to which they expect to gain a reward that’s of value to them
motivation (performance) =valence * intrumentality and expectancy

Question 23

employee segmentation

Answer 23

s the process of dividing a workforce into distinct groups based on shared characteristics, needs, behaviors, or motivations

Question 24

total reward strategy

Answer 24

an integrated approach to compensation that combines both financial rewards (like salary, bonuses, and benefits) and non-financial rewards (such as career development, work-life balance, and recognition) to attract, motivate, and retain employees.

Question 25

employer branding

Answer 25

the process of creating and promoting a company’s reputation as an attractive employer

Question 26

psychological contract theory

Answer 26

employee’s perceptions of promises made about agreements(what you have to do) and rewards(what you get in return) between employees and employer

Question 27

transactional psychological contracts

Answer 27

minimal, no expectations beyond contractual agreement

Question 28

relational psychological contracts

Answer 28

positive reactions, e.g, job satisfaction, commitment

Question 29

resource dependence theory

Answer 29

organizations depend on resources that originate from an organization’s environment. those who own valuable resources can exert power over the organization that needs this resource

Question 30

conflict theory

Answer 30

critical theories: employers have more power over the employees
unitarist theories: employee voice is important for optimal functioning of the organization

Question 31

industrial relations

Answer 31

politics as a mean to represent the interests of vulnerable groups

Question 32

single channel

Answer 32

union representatives work in the organization and consult with management
conflict: union representatives provide a channel for employees complaints

Question 33

dual channel

Answer 33

works council operates independent of union and cooperates with management
unitarist: improve organization performance to benefit employees and employers

Question 34

structural empowerment

Answer 34

practices take away hindrances and increases access to opportunity, information, support, or resources to take ownership

Question 35

psychological empowerment

Answer 35

process where people feel empowered

Question 36

pluralist perspective

Answer 36

there are multiple stakeholders involved in employment relations who all have different interest
–> the bridge between critical and unitarist perspectives