COMMERCE 2BC3 Lecture Notes - Lecture 6: Costco, Intellectual Capital, Social Capital
19 Oct 2020
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Historical view of hr: everything hr does should be integrated into everything that a company does, though historically that was not the case, hr wasn"t seen as a source of competitive advantage. Changing view of hr: every part of a company must work in unison, including hr. All segments must be integrated due to the increasing global competition: hr ensures a quality workforce, which contributes to a company"s competitive advantage, $ put towards hr should be seen as an investment. What is strategic management: addressing the challenges that companies face. "an approach for creating and managing a pattern or plan that integrates an organization"s major goals, policies, and actions into a cohesive whole" What is strategic hrm: the integration of hrm systems to the overall mission, strategy, and success of the firm. 4 necessary conditions: hr must : understand the organization"s mission.
