COMMERCE 2BC3 Lecture Notes - Lecture 1: Balanced Scorecard, Offshoring, Absenteeism

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2BC3
• Professor: Dr Schat

Document Summary

Competitiveness: company"s ability to maintain and gain market share in its industry. Human resource management (hrm): policies, practices and systems that in uence employees" behaviour, attitudes and performance: responsibilities. Hr managers face 2 challenges: shifting their focus from current operations to future operations, preparing non-hr managers to develop and implement hr practices. Evidence-based hr: demonstrating that human resources practices have a positive in uence on the company"s bottom line or key stakeholders. Hr or workforce analytics: the practice of using data from hr database and other data sources to make evidence-based human resource decisions. Sustainability: the ability of a company to survive and succeed in a dynamic competitive environment, without sacri cing the resources of its employees, the community or the environment. 2 types of assets: tangible assets: an asset you can physically hold (money, intangible assets: an asset you physically cannot hold (human capital) Knowledge workers: employees who own the intellectual means of producing a product or service.