COMMERCE 2BC3 Chapter Notes - Chapter 1: Intellectual Capital, Employee Engagement, Global Challenge
30 Jan 2017
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Value of a product/service is determine by its quality and how closely the share in its industry product fits customer needs: related to company effectiveness (cid:498)competitiveness(cid:499) = refers to company(cid:495)s ability to maintain and gain market. Evolution of the hrm function future: shifting their focus from current operations to strategies for the, preparing non-hr managers to make + implement hr practices. Hr was admin expert and employee advocate: requires the use of hr or workforce analytics customers, community, shareholders) 3 competitive challenges: challenge of sustainability, global challenge, technology challenge. The sustainability challenge: (cid:498)sustainability(cid:499) = refers to company(cid:495)s ability to survive and succeed in a dynamitic competitive environment. Adapt to changing environment + labour force. Canada must react to unpredictable range of interruptions ad transformation of external environment (e. g. war, baby boomers) Going forward companies look closely to monitor size of workforce for new operations and growth and monitor hr budgets customer capital, social capital and intellectual capital.
