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This 2 page Class Notes was uploaded by Kimberly Scott on Tuesday January 19, 2016. The Class Notes belongs to MGT 361 at a university taught by Mr. Pendel in Spring 2016. Since its upload, it has received 41 views.
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Date Created: 01/19/16
Management 361 1/19 Week One Notes Stakeholders of the organization: Organizational members Owners and investors Society Customers Other organizations Organizations must satisfy stakeholders Human Resource Management (HRM) contributes to stakeholder satisfaction Stakeholders Individuals/groups that are interested in, or have rights or ownership in in an organization and its activities Primary Stakeholders Those whose concerns the organization must address in order to ensure its own survival Success is defined by how these groups are served Tangible assets Investors focus on measuring tangible assets to determine a firm’s value Includes: Inventory, equipment, real estate, etc. New economy Intangible assets can be just as valuable as tangible . Includes: Reputation, employee talent/loyalty, etc. Customers Engaged employees have direct impact on customer satisfaction Society Type of employees the company decides to hire (“rare”) Suppliers Physical and human resources Organizational members Employees Pay and benefits Quality of work life Win- win situations = HRM goals External environments: Trends Laws and regulations Unions Cultural differences Globalization of business Organizational environment: Business strategy Culture Leadership approach Technology What does HRM do? Policies: Planning Job analysis Training/ recruiting Motivate Promote safety and health Unionization/ bargaining Roles: Business partner Consultant Innovator Change master Employee champion Challenges: Ethics Teams Globalization Metrics Multicultural workforce HRM Triad: Professionals Line managers All other employees