HRIR 3021 EXAM 1 QUESTIONS AND ANSWERS WITH
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
Critical Role of HRM
How do we hire, promote, develop, and compensate people to achieve company
mission, vision, values, value proposition, strategy, and overall goals?
Human Resource Management (HRM)
- Policies, practices, and systems that influence employees' behavior, attitudes, and
performance.
- Aligns people with company strategy to make work better and deal with difficult
business challenges.
Human Capital
Value of employees' training, experience, judgement, intelligence, insight, and networks.
Challenges for Today's HR Managers
- Recruit and retain diverse talent in changing conditions.
- Help employees manage the fast changing environment of work.
- Create and manage self-directed teams with autonomy and empowerment.
- Navigate the changing demographics, age, diversity, and employment types.
- Maintain high ethical standards in a global environment.
- Align employees with overall goals through people management policies.
- Identify how to keep independent contractors engaged.
People Management Philosophies
,- People strategies are best designed and implemented for a particular job or set of
jobs.
- Your philosophy may differ across company, differ for employee segments, or be
applied differently within one job.
- Few firms manage all of their employees the same way.
- These strategies will have a direct impact on the culture or the organization and the
ability for a company to recruit and retain good talent.
People Management Philosophy: Commitment
- Broadly defined tasks.
- High employee participation.
- Highly skilled workers.
- Extensive training.
- High wages.
- High benefits.
People Management Philosophy: Control
- Narrowly defined jobs.
- Low participation.
- Low skill requirements.
- Intense supervision.
- Limited training.
- Low wages.
- Low benefits.
Three Basic Paths to Competitive Advantage
,1. Operational Excellence
2. Product Leadership
3. Customer Intimacy
Operational Excellence
- Low cost provider via operational systems that continually reduce price/cost while
offering a quality product that consistently adds greater value than its competitors.
- Objective is to lead industry in both price and convenience.
- Ex. Fed Ex, UPS, Military, etc .
Product Leadership
- Requires innovation in product and/or services to create its competitive advantage.
- Objective is the fast commercialization of new ideas.
- Ex. 3M, Nike, Glaxo, Apple, etc.
Customer Intimacy
- Firms following a customer strategy offer unique solutions that enable their products or
services to be readily customized at the lowest level of customer interface.
- Objective is long-term customer loyalty and long-term customer profitability.
- Ex. Four Seasons, McKinsey & Co, PWC, etc.
Central Responsibility of HR
To deliver workforce behaviors needed to execute business strategy.
Internal Labor Force
- Consists of the organization's workers- its employees and the people who have
contracts to work at the organization.
- Drawn from the external labor market.
, External Labor Market
- Individuals who are actively seeking employment
- The number and kinds of people in this market determine the kinds of human
resources available to an organization and their cost.
How has HR evolved over the last century?
- Employee screening in China (1500 - 2000 B.C.).
- Industrial Revolution (1800-1910).
- First HR departments in the U.S. (1900-1910).
- Industrial Welfare (late 1890s - 1900s).
- Growth of HR Departments (1915-1929)
- Hawthorne Studies and Human Relations Movement (1927 - 1932).
- WWII (1939 - 1945).
- Civil Rights Era (1960-1970).
- Continuation of Scientific Studies at Major Research Institutions (1970-1990).
- Present (1990-2022)
Industrial Revolution
- 1800 - 1910
- The origin of the modern concern with managing workers.
- Started in Britain and then spread throughout Europe before moving to the U.S. and
Japan.
- Working class made up 80% of society and had little power.
- Supervisors had ultimate authority and few to no worker protections were in place.
- Limited autonomy.
COMPLETE SOLUTIONS GRADED A++ LATEST UPDATE
Critical Role of HRM
How do we hire, promote, develop, and compensate people to achieve company
mission, vision, values, value proposition, strategy, and overall goals?
Human Resource Management (HRM)
- Policies, practices, and systems that influence employees' behavior, attitudes, and
performance.
- Aligns people with company strategy to make work better and deal with difficult
business challenges.
Human Capital
Value of employees' training, experience, judgement, intelligence, insight, and networks.
Challenges for Today's HR Managers
- Recruit and retain diverse talent in changing conditions.
- Help employees manage the fast changing environment of work.
- Create and manage self-directed teams with autonomy and empowerment.
- Navigate the changing demographics, age, diversity, and employment types.
- Maintain high ethical standards in a global environment.
- Align employees with overall goals through people management policies.
- Identify how to keep independent contractors engaged.
People Management Philosophies
,- People strategies are best designed and implemented for a particular job or set of
jobs.
- Your philosophy may differ across company, differ for employee segments, or be
applied differently within one job.
- Few firms manage all of their employees the same way.
- These strategies will have a direct impact on the culture or the organization and the
ability for a company to recruit and retain good talent.
People Management Philosophy: Commitment
- Broadly defined tasks.
- High employee participation.
- Highly skilled workers.
- Extensive training.
- High wages.
- High benefits.
People Management Philosophy: Control
- Narrowly defined jobs.
- Low participation.
- Low skill requirements.
- Intense supervision.
- Limited training.
- Low wages.
- Low benefits.
Three Basic Paths to Competitive Advantage
,1. Operational Excellence
2. Product Leadership
3. Customer Intimacy
Operational Excellence
- Low cost provider via operational systems that continually reduce price/cost while
offering a quality product that consistently adds greater value than its competitors.
- Objective is to lead industry in both price and convenience.
- Ex. Fed Ex, UPS, Military, etc .
Product Leadership
- Requires innovation in product and/or services to create its competitive advantage.
- Objective is the fast commercialization of new ideas.
- Ex. 3M, Nike, Glaxo, Apple, etc.
Customer Intimacy
- Firms following a customer strategy offer unique solutions that enable their products or
services to be readily customized at the lowest level of customer interface.
- Objective is long-term customer loyalty and long-term customer profitability.
- Ex. Four Seasons, McKinsey & Co, PWC, etc.
Central Responsibility of HR
To deliver workforce behaviors needed to execute business strategy.
Internal Labor Force
- Consists of the organization's workers- its employees and the people who have
contracts to work at the organization.
- Drawn from the external labor market.
, External Labor Market
- Individuals who are actively seeking employment
- The number and kinds of people in this market determine the kinds of human
resources available to an organization and their cost.
How has HR evolved over the last century?
- Employee screening in China (1500 - 2000 B.C.).
- Industrial Revolution (1800-1910).
- First HR departments in the U.S. (1900-1910).
- Industrial Welfare (late 1890s - 1900s).
- Growth of HR Departments (1915-1929)
- Hawthorne Studies and Human Relations Movement (1927 - 1932).
- WWII (1939 - 1945).
- Civil Rights Era (1960-1970).
- Continuation of Scientific Studies at Major Research Institutions (1970-1990).
- Present (1990-2022)
Industrial Revolution
- 1800 - 1910
- The origin of the modern concern with managing workers.
- Started in Britain and then spread throughout Europe before moving to the U.S. and
Japan.
- Working class made up 80% of society and had little power.
- Supervisors had ultimate authority and few to no worker protections were in place.
- Limited autonomy.
