BU354 Chapter Notes - Chapter All: Recognition Of Prior Learning, Subfactor, Culture Shock
Document Summary
Human resource management functions: the management of people in an organization to drive successful organizational performance and achievement of the organization"s goals. Operational hrm: management of workers" compensation issues, pay, benefits. Strategic hrm: help companies best meet the needs of their employees while promoting company goals. Human capital: the knowledge, education, training, skills, and expertise of an organization"s workforce. Outsourcing: the practice of contracting with outside vendors to handle specific business functions on a permanent basis. Strategy: the company"s plan for how it will balance its internal strengths and weaknesses with external opportunities and threats to maintain a competitive advantage. Environmental scanning: an assessment of external factors influencing the organizations ability to find and secure talent from the external labour market including economic, competitive, legislative, social, technological and demographical trends. Metrics: statistics used to measure activities and results. Balanced scorecard: a measurement system that translates an organization"s strategy into a comprehensive set of performance measures.
