Week 2 Flashcards
Core Values
Structure, identity, and values for a business. All decisions made to reflect core values and abide by mission and vision
Influences on HRM can be both (2)
Internal and External
Internal
Organizational culture, climate, and management practice
External
Economic Factors, labour market issues, technology, environmental concerns
Strategic HRM involves formulating and…..
implementing HRM systems aligned with organizations strategy
Strategic plan
company’s plan to match internal strengths and weakness and external opportunities and threats to maintain comparative advantage
Comparative advantage
company achieves higher profits, specialization, low cost production and difficult for others to copy
Strategy
course of action company can pursue to achieve aims
Potters Generic strategies
matrix of 4 corners pertaining to differentiation scope and cost
Scope
Differentiation narrow or broad
Cost
high cost or low cost
Overall cost leadership
low cost to competitors and high scope or differentiation etc Walmart, McDonalds, IKEA
Overall Differentiation
Create unique product or service and recognized industry wide therefore high cost and differentiation etc Apple or Samsung
Focus
Concentrating on group of customers, geo markets and product line (bottom two quadrants) etc ferrari or lululemon
External influences on HRM external: Economic Factors
Employment level and hiring
economic sectors
productivity levels
Employment and hiring 2 systems
Healthy system
Weak system
Healthy System
increase demand for p/s, recruit more and pay well
Weak System
reduced pay and benefits, downsizing, unemployment, competition among high qualified candidates
Economic Sectors
Tertiary (Small Business) > Secondary (Manufac and construc) > Primary (Farm, agriculture)
Productivity Levels
produce more output with less input
Exploitation
workers forced to sell their labour power for less than the full value of commodities they produce with their labour
Marxist Definition and exploitation
Fairness based accounts
non-worseness claim and exploitation
worker at least has job, but an instance needs to be compared to an ideal condition and not worst case scenario
labour and market issues
Diversity
Generational Differences
Visible and Ethnic minorities
Diversity
Attributes that humans use to tell themselves “that person is different than me”
3 protected groups of ethnic minorities and trends
Indigenous: fastest and youngest growing population
Disabilities: Ableism -> discrimination against those with, 1/5 in population with disability
women
Women: gender pay gap, underrepresentation at the top level
Generational differences issue
stereotyping with age, or homogenous age groups
Self-fulfilling prophecy
person’s expectations about another person eventually results in that person to act in ways to confirm expectation
Education Issue with current generation
high population in university and post secondary but literacy(reading) level is very low
Non standard or contingent workers and risk
part-time, term/temp and risks are poorly paid, no job security, no legislation coverage
Technology
makes working easier and more efficient but has benefits and concerns
benefits
speed, convenience, accuracy, efficiency,
concerns
privacy, lack of design, data control, automation
Government environmental concerns (3)
Human Rights, Global Trends, Environmental Trends
Global Trends
firms outsource operations, increased competition, cheap skilled labours seeked
Environmental Trends
Climate change, carbon footprint, pollution, sustainability
Internal issues/concerns (3)
organizational culture, climate and management practice
organizational culture (2) and conveyed through
- core values, beliefs, and assumptions spread
- behaviour expectations that are acceptable and not acceptable
- conveyed through seminars, mission and vision, symbols
Organizational Climate and how is it reflected
- shared perception of organizational attributes such as policies, practices and procedures
- reflected in level of employee motivation, job satisfaction, performance and productivity
Management Practice (3)
Hierarchal vs egalitarian
Empowerment - more employees to manage
provide workers will skills and authority to grow and improve
