Human Resource Management, Gaining a Competitive Advantage

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  1. Competitiveness
    A company's ability to maintain and gain market share in its industry.
  2. Human Resource Management (HRM)
    Policies, practices and systems that influence employee' behavior, attitudes, and performance.
  3. Strategic HRM
    • 1- Analysis and design of work
    • 2- HR planning
    • 3- Recruiting
    • 4- Selection
    • 5- Training and development
    • 6- Compensation
    • 7- Performance management
    • 8- Employee relations
  4. Three product line of HR as a business
    • Administrative services and transactions
    • Business partner services
    • Strategic partner
  5. Self-Service
    Giving employees online access to HR information.
  6. Outsourcing
    The practice of having another company provide services.
  7. Evidence-Based HR
    Demonstrating that human resource practices have a positive influence on the company's bottom line or key stakeholders (employees, customers, community, shareholders)
  8. Competitive challenges influencing HRM
    • Competing through sustainability
    • Competing through globalization
    • Competing through technology
  9. Sustainability
    The ability of a company to survive in a dynamic competitive environment. Based on a approach to organizational decision making that considers company's ability to make a profit without sacrificing the resources of its employees, the community, or the environment.
  10. Stakeholders
    The various interest groups who have relationships with, and consequently whose interests are tied to the organization (e.g., employees, suppliers, customers, shareholders, community)
  11. Intangible Assets
    A type of company asset including human capital, customer capital, social capital, and intellectual capital.
  12. Knowledge Workers
    Employees who own the intellectual means of producing a product or service.
  13. Empowering
    Giving employees responsibility and authority to make decisions.
  14. Learning Organiztion
    Employees are continually trying to learn new things.
  15. Psychological contract
    Expectations of employee contributions and what the company will provide in return.
  16. Employee Engagement
    The degree to which employees are fully involved in their work and the strength of their job and company commitment.
  17. Common Themes of employee Engagement
    • Pride in employer
    • Satisfaction with employer
    • Satisfaction with the job
    • Opportunity to perform challenging work
    • Recognition and positive feedback from contribution
    • Personal support from manager
    • Effort above and beyond the minimum
    • Understanding the link between one's job and company's mission
    • Prospects for future growth with the company
    • Intention to stay with the company
  18. Talent Management
    A systematic planned strategic effort by a company to attract, retain, develop, and motivate highly skilled employees and managers.
  19. Alternative work arrangements
    Independent contractors, on-call workers, temporary workers, and contract company workers who are nor employed full-time by the company.
  20. Balanced Scorecard
    A means of performance measurement that gives managers a chance to look at their company from the perspectives of internal and external customers, employees, and shareholders.

    • BSC perspectives:
    • Customer, Internal, Innovation and learning, Financial
  21. Total Quality Management (TQM)
    A cooperative form of doing business that relies on the talents and capabilities of both labor and management to continuously improve quality and productivity.
  22. Malcolm Baldrige National Quality Award
    An award established in 1987 to promote quality awareness, to recognize quality achievements of U.S. Companies, and to publicize successful quality strategies.
  23. ISO 9000:2000
    Quality standards adopted worldwide.
  24. Six Sigma Process
    System of measuring, analyzing, improving, and controlling process once they meet quality standards.
  25. lean Thinking
    A process used to determine how to use less effort, time, equipment, and space but still meet customer's requirements.
  26. Internal labor force
    Labor force of current employees.
  27. External labor market
    Persons outside the firm who are actively seeking employment.
  28. Set of skills for managers to manage a diverse workforce
    • 1-Communicating effectively with employees from a wide variety of cultural backgrounds.
    • 2-Coaching and developing employees of different ages, educational background, ethnicity, physical ability and race.
    • 3-Providing performance feedback that is based on objective outcomes rather than values and stereotypes.
    • 4-Creting a work environment that makes it comfortable for employees of all backgrounds to be creative and innovative.
    • 5-Recognizing and responding to generational issues.
  29. Sarbanes-Oxley Act of 2002
    A congressional act passed in response to illegal and unethical behavior by managers and executives. The act sets stricter rules for business specially accounting practices including requiring more open and consistent disclosure of financial data, CEO's assurance that the data is completely accurate, and provisions that affect the employee-employer relationship.
  30. Offshoring
    Exporting jobs from developed to less developed countries.
  31. Onshoring
    Exporting jobs to rural parts of the United States.
  32. High Performnce Work Systems
    Work systems that maximize the fit between the company's social system and technical system.
  33. Work teams
    Involve employees with various skills who interact to assemble a product or provide a service.
  34. Cross-training
    Training employees in a wide range of skills so they can fill any of the roles needed to be formed on the team.
  35. Virtual Teams
    Teams that are separately by time, geographic distance, culture, and/or organizational boundaries and rely exclusively on technology for interaction between team members.
  36. Electronic Human Resource Management (e-HRM)
    The processing and transmission of digitized information used in HRM.
  37. Human Resource Information System (HRIS)
    A system used to a acquire, analyze, retrieve, and distribute HR information.
  38. HR Dashboard
    HR metrics such as productivity, absenteeism that are accessible by employees and managers through the company intranet or human resource information system.
Card Set:
Human Resource Management, Gaining a Competitive Advantage
2013-02-23 17:30:46
Human Resource Management Sarasz

Human Resource Management, Neo/Hollenbeck/Gerhart/Wright, McGraw-Hill Seventh International Edition
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