HRM 3490 Lecture Notes - Lecture 15: Walmart, Vertical Integration, Piece Work
5 May 2019
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A tale of two firms: koch foods, chicken processing, minimum wage, no fringe benefits, they manufacture chicken, the chicken comes in, and someone/something has to kill it. Its because it is achieving the goals of the organization. Compensation systems employees: what works one place may not work in others, and what works well in that company given its context is what we judge. Step 1: mission/vision/values: we are developing a strategic compensation model. Some organizations come up with value statements. well, it was the process by which they got to the mission statement. They figured out who they actually were. gathered data, and they developed a mechanism to determine what is a good mission/vision statement. They develop criteria used to judge a mission statement. What: at mcmaster they were doing research they wanted to know the essence of vmv. Step 2: organizational/corporate strategy: how do we realize that the strategy is getting more concrete as you go lower down.
