MGMT 355 MIDTERM EXAM ACCURATE STUDY GUIDE
Understand what is meant by the idea of human capital. - Answers - An organization's
employees are resources of the employer. Described in terms of training, experience,
judgment, intelligence, relationships, insight. Companies
compete with human capital (competitive advantage)
Understand the 8 HR practices and responsibilities identified in chapter 1. Be fluent in
the
terminology used to describe HR practices and responsibilities - Answers - Analysis and
design of work:
HR planning
Recruiting
Selection
Training and development
Compensation
Employee Relations
Understand the HR responsibilities of supervisors. - Answers - Help define jobs,
forecast HR needs, provide training, interview candidates, appraise performance,
recommend pay increases and promotions, communicate policies, motivate with
support from pay, benefits and other rewards.
Trends - Answers - Aging Workforce, Diverse Workforce, and Skill Deficiencies.
Internal Labor Force - Answers - organizations workers like employees and the people
who have contracts to work with the company
External Labor Force - Answers - individuals actively seeking employment. HR needs to
be aware of trends because it affects the options of creating well-skilled, motivated
internal workers
Understand what is meant by high performance work systems. - Answers - When
technology, organizational structure, people and processes work together to give an
organization a competitive advantage. Relies on knowledge, empowerment and
teamwork for gaining human capital.
Major strategic issues - Answers - Mergers and Acquisitions
Re engineering
International Expansion
Downsizing
Outsourcing
, Total Quality Management
Mergers and Acquisitions. - Answers - the merger is when 2 companies join and
become one. An acquisition is when one company buys another one.
Reengineering - Answers - rethinking the way work is done to become more efficient
and able to deliver higher quality or save money.
Downsizing - Answers - job cuts because of reduced activities. Cut workers who aren't
as valuable first or oDer early retirement. HR needs to inform employees of what is
happening and
why
Outsourcing: - Answers - Having another company provide services to save money.
Requires a contract
Total Quality Management - Answers - a company-wide effort to continuously improve
the ways people, machines and systems accomplish work. High quality standards. Meet
the needs of
internal and external customers
HR Information Systems (HRIS): - Answers - a computer system to acquire, store,
manipulate,
analyze, retrieve, and distribute information related to an organization's HR
Psychological Contract - Answers - what an employee expects to contribute in an
employment relationship and what the employer will provide in exchange. These are
unspoken expectations like time, effort, skills, abilities and loyalty.
Declining Union Membership - Answers - changing with technology. Data found online
to negotiate salary, benefits, and employees' own career paths.
Flexibility - Answers - flexible starting levels and work schedules. Independent
contractors, on-call workers, temporary works, contract workers.
Legislative Branch: - Answers - enacts many laws in response to a social need
Executive Branch: - Answers - regulates agencies and enforces the laws passed
Judicial Branch: - Answers - influences employment law by interpreting the law and
holding trails concerning violations of the law. Supreme court
"Equal Employment Opportunity." - Answers - All individuals have an equal chance for
employment, regardless of their race, color, religion, sex, age, disability, or national
origin
Understand what is meant by the idea of human capital. - Answers - An organization's
employees are resources of the employer. Described in terms of training, experience,
judgment, intelligence, relationships, insight. Companies
compete with human capital (competitive advantage)
Understand the 8 HR practices and responsibilities identified in chapter 1. Be fluent in
the
terminology used to describe HR practices and responsibilities - Answers - Analysis and
design of work:
HR planning
Recruiting
Selection
Training and development
Compensation
Employee Relations
Understand the HR responsibilities of supervisors. - Answers - Help define jobs,
forecast HR needs, provide training, interview candidates, appraise performance,
recommend pay increases and promotions, communicate policies, motivate with
support from pay, benefits and other rewards.
Trends - Answers - Aging Workforce, Diverse Workforce, and Skill Deficiencies.
Internal Labor Force - Answers - organizations workers like employees and the people
who have contracts to work with the company
External Labor Force - Answers - individuals actively seeking employment. HR needs to
be aware of trends because it affects the options of creating well-skilled, motivated
internal workers
Understand what is meant by high performance work systems. - Answers - When
technology, organizational structure, people and processes work together to give an
organization a competitive advantage. Relies on knowledge, empowerment and
teamwork for gaining human capital.
Major strategic issues - Answers - Mergers and Acquisitions
Re engineering
International Expansion
Downsizing
Outsourcing
, Total Quality Management
Mergers and Acquisitions. - Answers - the merger is when 2 companies join and
become one. An acquisition is when one company buys another one.
Reengineering - Answers - rethinking the way work is done to become more efficient
and able to deliver higher quality or save money.
Downsizing - Answers - job cuts because of reduced activities. Cut workers who aren't
as valuable first or oDer early retirement. HR needs to inform employees of what is
happening and
why
Outsourcing: - Answers - Having another company provide services to save money.
Requires a contract
Total Quality Management - Answers - a company-wide effort to continuously improve
the ways people, machines and systems accomplish work. High quality standards. Meet
the needs of
internal and external customers
HR Information Systems (HRIS): - Answers - a computer system to acquire, store,
manipulate,
analyze, retrieve, and distribute information related to an organization's HR
Psychological Contract - Answers - what an employee expects to contribute in an
employment relationship and what the employer will provide in exchange. These are
unspoken expectations like time, effort, skills, abilities and loyalty.
Declining Union Membership - Answers - changing with technology. Data found online
to negotiate salary, benefits, and employees' own career paths.
Flexibility - Answers - flexible starting levels and work schedules. Independent
contractors, on-call workers, temporary works, contract workers.
Legislative Branch: - Answers - enacts many laws in response to a social need
Executive Branch: - Answers - regulates agencies and enforces the laws passed
Judicial Branch: - Answers - influences employment law by interpreting the law and
holding trails concerning violations of the law. Supreme court
"Equal Employment Opportunity." - Answers - All individuals have an equal chance for
employment, regardless of their race, color, religion, sex, age, disability, or national
origin
