Chapter 1 (Managing Human Resources) Flashcards
Human Resources Management(HRM)
The process of managing human talent to achieve an organization’s objectives.
Human Capital
The knowledge, skills, and capabilities of individuals that have economic value to an organization
Six Sigma
A set of principals and practices whose core ideas include understanding customer needs, doing things right the first time, and striving for continuous improvement.
Reengineering
The fundamental rethinking and radical redesign of business processes to achieve dramatic improvement in cost, quality, service and speed
Downsizing
Planned elimination of jobs
Outsourcing
contracting out work that was formally done by employees
Change Management
Change management is a systematic way of bringing about and managing both organizational changes and changes on the individual level.
Reactive Change
Change that occurs after external forces have already affected performance
Proactive Change
Change initiated to take advantage of targeted opportunities
Globalization
The trend to opening up foreign markets to international trade and investment
Corporate Social Responsibilities
The responsibility of the firm to act in the best interest of the people and communities affected by its activities
Collaborative Software
Software that allows workers to interface and share information with one another electronically
Knowledge Workers
Workers whose responsibilities extend beyond the physical execution of work to include planning, decision making and problem solving
Human Resources Information System
A computerized system that provides current and accurate data for purposes of control and decision making
Furloughing
A situation in which an organization asks or requires employees to take time off for either no pay or reduces pay
