HRM 1101 Study Guide - Midterm Guide: Self-Awareness, Gross Domestic Product, Adhocracy

• School: Temple University
• Department: Human Resource Management
• Course: HRM 1101
• Professor: Kate Nelson

Document Summary

Private sector- public and private corporations, banks, non- profits. Investors- people who buy stock of publicly traded companies. Shareholders are a public company"s owner recession(economy contracts)- 6 months to 2 years. Turonver- employees who leave for any reason (voluntary, involuntary, retire, die) very expensive for company lose of productivity, experience recruiting, hiring, training cost (time and 25970) costs about 150% of someones annual salary. Corporate culture- how the business runs, their values, beliefs, hard to change culture once it is entrenched. Usually reflects on personality of the founder/important leaders in the company. Usually the vision of the founder and then it"s the tone and feeling the company has. Observable artifacts ->values and attitues -> basic assumptions. Cultural drivers: myths, heroes, taboos, sacred symbols and language. Globalization- businesses are not only state wide, but nation wide and globally wide. Today"s challenges- balance of world economic and political power is shifting. Human population is growing at an unprecedented rate.