Study Guide for Exam 1
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This 7 page Study Guide was uploaded by Joanne Notetaker on Wednesday September 21, 2016. The Study Guide belongs to 301 at Rutgers University taught by Sargam Garg in Fall 2016. Since its upload, it has received 69 views. For similar materials see Introduction to Human Resources in 533 at Rutgers University.
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Date Created: 09/21/16
Introduction to Human Resource Management Professor. Sargam Garg Section 05 Some information about the exam: o 40 questions o All multiple choice Example questions: 1. Your company is currently faced with a labor shortage. You need to correct the situation, but want to choose an option that is fast, yet can be “undone” when the shortage goes away (revocability). Of the following options, which one does NOT meet both of these conditions? A. Overtime B. New external hires C. Temporary workers D. Outsourcing Answer: B. New external Hires HRM Overview Three methods to assess whether HRM matters ● Conceptual Arguments First Tactic: A Conceptual Analysis Resourcebased view (RBV) focus on internal resources Firm resources: ? Valuable ? Rare ? Inimitable ? Nonsubstitutable ● Case Studies Examine companies that do well financially and see if they do a good job managing HRM. Examine companies that struggle financially and see if they do a poor job managing HRM. ● Quantitative Analysis Look at companies who have been recognized for their HRM quality, to see if their practices have seemed to create a sustainable competitive advantage. Introduction to Human Resource Management Professor. Sargam Garg Section 05 The “resourcebased view” of the firm o What are some kinds of “resources”? o What is a competitive advantage? ● When a company implements a value creating strategy that is not being implemented by current and potential competitors, the company has competitive advantage. o What factors contribute to making resources valuable and that, in turn, give companies a competitive advantage? q Study of 968 firms regarding their HRM practices conducted by Huselid (1995), Know the results specific amounts/percentages. ● one standard deviation increase in high performance work practices was associated with a 7.05% decrease in turnover q What is psychological contract? ● set of promises & expectations exchanged between employer and employee regarding their obligations toward each other. HR Challenges q The two general HR challenges that we discussed q Strategy as an organizational demand o The two types of strategies Cost Leadership Strategy Differentiation Strategy o Their implications for managing employees Introduction to Human Resource Management Professor. Sargam Garg Section 05 Company characteristics as an organizational demand: Compare concerns between companies in different stages of development (young versus old companies) Young companies: tend to focus more on growth and wealth Old companies: tend to focus more on career growth, training, Organizational culture as an organizational demand: o Definition o Factors that shape culture Possible responses to injustice What are the implications of conducting the business in an ethically and socially responsible way Job Analysis The components that comprise job descriptions The components that comprise job specifications ● KSAO (Knowledge, Skills, Abilities, Other factors) ???? What is job analysis ● The process of getting detailed information about jobs in organizations. Knowledge, Skills, Abilities, and Other characteristics o Definitions o What characteristics are trainable and which ones are not (or, less trainable) o Be able to apply this information to an example about who to hire Introduction to Human Resource Management Professor. Sargam Garg Section 05 Tools for job analysis o Types of tools Job Element Inventory Position Analysis Questionnaire Occupational Information Network (O*NET) Dictionary of Occupational Titles (DOT) o Pros and cons of each tool Job Element Inventory Pro’s: Con’s: Position Analysis Questionnaire: Pro’s: ● dimensions are linked to a general aptitude test ● Dimensions are broad (covers input, output, processes, and work context) Con’s: ● Requires a reading level of a college graduate to complete the test ● Standard format leads to an abstract characterization of jobs Why is job analysis information important for example: compensation, training, etc.? What is an organization chart? Job Design The four broad approaches to job design o Goals of each o How each is conducted Within the motivational approach, the Job Characteristics Model (JCM) Introduction to Human Resource Management Professor. Sargam Garg Section 05 o The five core job characteristics o The three critical psychological states o The goal of the motivational approach o Tradeoffs of the motivational approach o The name of the survey used to compute a “satisfaction” score using the JCM From the article “Why Silicon Valley is Rethinking the Cubicle Office,” what job design is MOST applicable to Intel’s switch from cubicles to an open office design Planning q Planning process ● Forecasts of labor demands ● Forecasts of labor supply ● Forecasts of labor surplus or shortage ● Goal setting and strategic planning ● Program implementation and evaluation Definition of labor demand and labor supply ● Labor demand: number and types of employees the company needs. ● Labor supply: current or potential employees to perform jobs. What is transition matrix What is productivity ratio q Specific options for how to correct a surplus Introduction to Human Resource Management Professor. Sargam Garg Section 05 o Which options are faster Downsizing Pay reduction Demotions Work sharing o Which options result in human suffering Hiring freeze Natural attrition Early retirement Retraining q Specific options for how to correct a shortage o Which options are faster Overtime Temporary workers Outsourcing o Which options are revocable (can be “undone” when the shortage is corrected) Overtime Temporary workers Outsourcing Retrained transfers Turnover reduction (?) Moderately revocable Recruitment q Four factors that make organizations more or less attractive to candidates ● Vacancy characteristics ● Personnel policies ● Recruitment sources ● Recruiter characteristics q With regard to vacancy characteristics, three potential decisionmaking strategies that candidates might use to decide which job to accept q The three policies that affect vacancy desirability ● Yield ratios ● Costperhire ● Timetofill Introduction to Human Resource Management Professor. Sargam Garg Section 05 q The outcome upon which recruiter characteristics has an impact q What are advantages and disadvantages of using internal and external recruitment sources q Realistic job previews o What are they o What can they help improve q What is succession management
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