MGT 361 Week 1 Notes
MGT 361 Week 1 Notes MGT 361
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This 2 page Class Notes was uploaded by Jaclyn Barker on Friday August 28, 2015. The Class Notes belongs to MGT 361 at Ball State University taught by Pendel in Summer 2015. Since its upload, it has received 60 views. For similar materials see Managing Human Resources in Business at Ball State University.
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Date Created: 08/28/15
MGT 361 Week 1 Notes 828 Ch 1 Managing Human Resources Stakeholders of the Organization and examples of their concerns Organization Members Good pay and benefits Good quality of work life Longterm employability Owners and Investors Financial returns Corporate reputation Longterm survival Society Legal compliance Social responsibility Ethical practices Other Organizations suppliers unions alliance partners Reliability Trustworthiness Collaborative problem solving Customers Quality Speed and responsiveness Low prices Innova on Convenience Anytime you hear strategy or strategic think top management Tangible Assets Investors focus on measuring tangible assets in order to determine a firm39s value Inventory equipment real estate financial assets New Economy Investors recognize that intangible assets can be just as valuable as tangible assets Suppliers physical and human resources Unions Adversarial to collaborative problem solving relationship with management Alliance Partners Achieve common goals Establish joint ventures Win Win Situations HRM can create synergies from the diverse concerns of various stakeholders Property managing human resources can provide solutions A competitive advantage Core employees who are a source of added value Employees who are rare A culture that can39t be copied The external environment Globalization of business Labor market conditions and trends Economic and political trends Laws and regulations Cultural differences Unions The organizational environment Characteristics that shape HRM practices Business strategy The management39s leadership approach Technology Formal Policies of HRM activities Statements of expectations and aspirations Are modified and influenced by daily practices HR Policies and Practices HR planning for alignment and change Job analysis and competency modeling Recruiting and retaining qualified employees Selecting employees to fit the job and the organization Training and developing a competitive workforce Conducting performance management Using performancebased pay to enhance motivation Providing benefits and services Promoting workplace safety and health Unionization and collective bargaining Continue Ch 1 next week
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