Mgt Midterm Study Guide

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MGT 303 MIDTERM STUDY GUIDE
Christopher Rhodes

Starbucks:
·      New growth model that tries to get customers to purchase more coffee regardless of its form, venue, or name on the beans ·      Calls all employees “Partners”
o   Coffee knowledge, product expertise, great customer service o   Treated with dignity and respect
·      Greet regular customers by name
·      Baristas slow down make no more than two drinks at a time

HRM plays key role in determining survival, effectiveness, and competitiveness of US businesses

Competitiveness: a companys ability to maintain and gain market share in its industry ·      Related to company effectiveness
o   Satisfies needs of stakeholders

HRM help support business strategy and provide services the customers value.

Value of a product: determined by its quality and how closely the product fits customers needs.

HRM: policies, practices, and systems that influence employees behavior attitudes, and performance ·      “People practices”

Strategic HRM consists of:
HR Planning: analyzing and designing work, determining HR needs

Recruiting: attracting potential employees
·      Interviewing, testing
Selection: choosing employees

Training and Development: teaching employees how to perform their jobs and preparing them for the future·      Orientation, productivity enhancement

Compensation: rewarding employees

Performance Management: evaluating their performance

Employee Relations: creating a positive work environment

Effective HRM practices are strategic
·      enhances companies performance by contributing to employee and customer satisfaction, innovation, productivity

Typically 1 HR employee for every 93 employees

HR departments are considered a business within the company with three product lines: 1) Adminstrative Services and Transactions:
o   Compensation, hiring, staffing
o   Resource efficiency and service quality
2) Business Partner Services:
o   Developing effective HR systems
o   Helping implement business plans, talent management
o   Knowing the business and exercising influence
o   Problem solving, desiging effective systems to ensure needed competencies 3) Strategic Partners:
o   Contributing to business strategy based on human capital, business capabilities o   Knowledge of HR and of the business competition, the market and business strategies

Strategic Role of the HRM Function
·      Amount of time HRM devotes to administrative tasks is decreasing and its role as a strategic business partner, change agent, and employee advocate are increasing.

HR managers face two important challenges:
·      Shifting their focus from current operations to strategies for the future AND
·      Preparing non-HR managers to develop and implement HR practices

Shared Service Model: way to organize the HR function
·      helps control costs and improve business relevance and timeliness of HR practices ·      Centers of expertise
o   HR specialists in areas of staffing or training
·      Service Centers
o   Central place for administrative and transaction tasks o   Enrolling in training programs or changing benefits that emploees can acess online ·      Business Partners
o   HR staff members who work with business-unit managers on strategic issues such as new compensation plans

Self-Service:  refers to giving employees online access to info about HR issues such as training, benefits, compensation, and contracts

Outsourcing: having another company provide services
·      Conduct important but admin. HR functions such as payroll processing as well as provide expertise in strategically important practice areas such as recruiting

·      Cost Savings
·      Increased ability to recruit and manage talent
·      Improved HR service quality

Most commonly outsourced activities are those related to benefits administration, relocation, and payroll.

Bottom line for evaluating the relationship between HR management and...
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