RSM361H1 Lecture Notes - Lecture 1: Outsourcing, Offshoring, Six Sigma
Document Summary
The process of managing human talent to achieve an organization"s objectives. Economic value of employee"s knowledge, skills, and capabilities. Cannot be managed the way organizations manage jobs, products and technologies. (employees own their own human capital) Competitive challenges and human resources management: responding strategically to changes in the marketplaces. Occurs after external forces have already affected performance. Set of principles and practices whose core ideas include understanding customer needs, doing things right the first time and striving for continuous improvement. The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in cost, quality, service, and speed. Hiring someone outside the company to perform business processes that were previously done within the firm. Link the change to the business strategy. Show how the change creates quantifiable benefits. Engage key employees, customers, and their suppliers early when making a change. Make an investment in implementing and sustaining change: competing, recruiting, and staffing globally.
