Mgt Midterm Study Guide

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Mgt Midterm Study Guide

By | April 2013
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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...
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