Exam (elaborations)
C202 Managing Human Capital Ch1-4 Exam Questions & Answers
C202 Managing Human Capital Ch1-4 Exam Questions & Answers
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C202 Managing Human Capital Ch1-4Exam Questions & Answers
competitive advantage - -doing something differently from the competition
that leads to outperformance and success
-human resource management - -the organizational function responsible for
attracting, hiring, developing, rewarding and retaining talent
-staffing - -the process of planning, acquiring, deploying and retaining
employees that enables an organization to meet its talent needs and to
execute its business strategy
-total rewards - -the sum of all of the rewards employees receive in
exchange for their time, efforts and performance
-direct financial compensation - -compensation received in the form of
salary, wages, commissions, stock options or bonuses
-indirect financial compensation - -all the tangible and financially valued
rewards that are not included in direct compensation, including free meals,
vacation time and health insurance
-nonfinancial compensation - -rewards and incentives given to employees
that are not financial in nature including intrinsic rewards received from the
job itself or from the work environment
-Strategic risk, Operational risk, Financial risk and Compliance risk - -
Managing human resources strategically helps organizations manage four
types of risk:
-business strategy - -defines how a firm will compete in its marketplace
-talent philosophy - -a system of beliefs about how an organization's
employees should be treated
-human resource strategy - -links the entire human resource function with
the firm's business strategy
-global mindset - -a set of individual attributes that enable you to influence
individuals, groups and organizations from diverse socio/cultural/institutional
systems
, -superior value for their money - -To have a competitive advantage, a
company must ultimately be able to give customers ____________.
-Employee Handbooks - -print of online materials that document the
organization's HRM policies and procedures
-shared service center - -centralizes routine, transaction-based HRM
activities
-outsourcing - -hiring an external vendor to do work rathe than doing it
internally
-professional employer organization - -a company that leases employees to
companies that need them
-organizational culture - -the norms, values, and assumptions of
organizational members that guide members' attitudes and behaviors
-entrepreneurial, bureaucratic, consensual, competitive - -four types of
organizational culture
-performance culture - -focuses on hiring, retaining, developing, motivating
and making work assignments based on performance data and results
-high performance work systems (HPWS) - -high involvement or high
commitment organizations
-ethics - -the standards of moral behavior that define socially accepted
behaviors that right as opposed to wrong
-utilitarian, rights, fairness, common good, virtue - -five types of ethical
standards
-utilitarian standard - -the ethical action best balances good over harm
-rights standard - -this ethical action is the one that best respects and
protects the moral rights of everyone affected by the action
-fairness standard - -the ethical action treats all people equally, or at least
fairly, based on some defensible standard
-common good standard - -the ethical action shows respect and compassion
for all others, especially the most vulnerable
-virtue standard - -the ethical action is consistent with certain ideal virtues
including civility, compassion, benevolence, etc.
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