ADM 2337 Chapter Notes - Chapter 1: Informa, Human Capital, Personal Information Protection And Electronic Documents Act

• School: University of Ottawa
• Department: Administration
• Course: ADM 2337
• Professor: Gebrekiduce Mekonnen

Document Summary

Human capital-the skills, knowledge and capabilities of certain individuals that have economic value to the company. If they leave, they take the human capital with them and all time and money used to train the employee will be lost by the company: competitive challenges human resources employee concerns. Six sigma principles and practices for understanding customer needs, doing things right for the first time, and to have continuous improvement. Reengineering rethinking and design of business processes to improve on all business core qualities including costs, quality, and speed. Downsizing-planned elimination of jobs: could result grievance from fired workers such as lawsuits, pension payoffs, etc. Outsourcing-contracting outside workers that was before done by the employees of the company. Change management: reactive changes changes after the outcome by external factors, proactive changes done before the predicted outcome if no changes were made, to take advantage of opportunities. Globalization opening of foreign markets to make international trades and investments.