Chap 1: Gaining a Competitive Advantage

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Chap 1: Gaining a Competitive Advantage by Mind Map: Chap 1: Gaining a Competitive Advantage

1. Intro

1.1. Competitiveness

1.1.1. Definition: company’s ability to maintain and gain market share in its industry.

1.1.2. Usage: Related to company effectiveness, which is determined by whether the company satisfies the needs of stakeholders

1.2. Value: product's quality and how closely it fits customer needs

1.3. Human Resources Management

1.3.1. What? policies, practices, and systems that influence employees’ behavior, attitudes, and performance

1.3.2. function

1.3.2.1. planning

1.3.2.2. recruiting

1.3.2.3. selection

1.3.2.4. train & development

1.3.2.5. compensation

1.3.2.6. performance management

1.3.2.7. employee ralations

1.3.3. usage: enhance company performance

2. What Responsibilities and Roles Do HR Departments Perform?

2.1. Responsibilities

2.1.1. Analysis and design work

2.1.2. Recruitment and selection

2.1.3. Training and development

2.1.4. Performance management

2.1.5. Compensation and benefit

2.1.6. Employee/labour relations

2.1.7. Personnel policies

2.1.8. Employee data and info system

2.1.9. Legal compliance

2.1.10. Support for business strategy

2.2. Responsibilities as a business

2.2.1. Administrative Services & transactions

2.2.1.1. compensation

2.2.1.2. hiring

2.2.1.3. staffing

2.2.2. Business partner services

2.2.2.1. develop effective HR system

2.2.2.2. help implement business plans

2.2.2.3. talent management

2.2.3. Strategic partner

2.2.3.1. Human capital

2.2.3.2. business capabilities

2.2.3.3. readiness

2.2.3.4. developing HR practises

3. Strategic role of HRM function

3.1. Definition

3.1.1. The amount of time that the human resource management function devotes to administrative tasks is decreasing, and its roles as a strategic business partner, change agent, and employee advocate are increasing.

3.2. Challenges

3.2.1. shifting their focus from current operations to strategies for the future

3.2.2. preparing non-HR managers to develop and implement HR practices.

3.3. Shared service model

3.3.1. a way to organize the HR function that includes centers of expertise or excellence, service centers, and business partners.

3.4. Self-service

3.4.1. giving employees online access to, or apps that provide, information about HR issues, enrolling online in programs and services, and completing online attitude surveys.

3.5. Outsourcing

3.5.1. the practice of having another company (a vendor, third party, or consultant) provide services.

3.6. Demonstrating the strategic value of HRM: HR analytics and evidence-based HR

3.6.1. Evidence-based HR

3.6.1.1. the demonstration that HR practices have a positive influence on the company’s bottom line or key stakeholders

3.6.2. HR or workforce analytics

3.6.2.1. the practice of using quantitative methods and scientific methods to analyze big data.

3.6.2.1.1. Big data

3.7. The HRM profession

3.7.1. Position & Job

3.7.2. Education & Experience

3.7.3. Competencies & Behavior

4. Competitive Challenges Influencing Human Resource Management

4.1. Competing through Sustainability

4.1.1. Deal with the workforce and employment implications of the economy

4.1.2. Understand and enhance the Value laced on Intangible Assets and Human Capital

4.1.2.1. Emphasize Empowerment and Continuous Learning.

4.1.2.2. Adapt to Change.

4.1.2.3. Maximize Employee Engagement.

4.1.2.4. Manage Talent.

4.1.2.5. Consider Nontraditional Employment and the Gig Economy.

4.1.2.6. Provide Flexibility to Help Employees Meet Work and Life Demands.

4.1.3. Meet the Needs of Stakeholders: Shareholders, Customers, Employees, and Community

4.1.3.1. Demonstrate Performance to Stakeholders: The Balanced Scorecard.

4.1.3.2. Demonstrate Social Responsibility.

4.1.4. Emphasize Customer Service and Quality

4.1.4.1. Malcolm Baldrige National Quality Award.

4.1.4.2. ISO (International Organization for Standardization) 9000 Standards.

4.1.4.3. Six Sigma

4.1.4.3.1. a process of measuring, analyzing, improving, and then controlling processes once they have been brought within the narrow Six Sigma quality tolerances or standards.

4.1.4.4. Lean Thinking & Process Improvement.

4.1.4.4.1. way to do more with less effort, time, equipment, and space, but still provide customers what they need and want.

4.1.5. Recognize and Capitalize on the Demographics and Diversity of the Workforce

4.1.5.1. Aging of the Workforce.

4.1.5.2. The Multigenerational Workforce

4.1.5.3. A Workforce of Mixed Gender, Race, and Nationality.

4.1.6. Consider Legal and Ethical Issues

4.1.6.1. Legal Issues.

4.1.6.1.1. will likely be development and debate of new and current employment laws and regulations, as well as increased emphasis on enforcing specific aspects of current laws and regulations such as those related to immigrant employment.

4.1.6.2. Ethical Issues.

4.1.6.2.1. can be considered the fundamental principles of right and wrong by which employees and companies interact.

4.2. Competing through Globalization

4.2.1. Entering International Markets

4.2.2. Offshoring and Reshoring

4.2.2.1. Definition

4.2.2.1.1. Offshoring

4.2.2.1.2. Reshoring

4.3. Copeting through Technology

4.3.1. Consider Applications of Social Networking, Artificial Intelligence, and Robotics

4.3.1.1. Social Networking.

4.3.1.2. Artificial Intelligence & Robotics.

4.3.2. Use HRIS, Mobile Devices, Cloud Computing, and HR Dashboards

4.3.3. Consider High-Performance Work Systems and Virtual Teams

5. Meeting Competitive Challenges through HRM Practices

5.1. Managing the Human Resource Environment

5.1.1. Linking HRM practices to the company’s business objectives—that is, strategic human resource management

5.1.2. Ensuring that HRM practices comply with federal, state, and local laws

5.1.3. Designing work that motivates and satisfies employees as well as maximizes customer service, quality, and productivity

5.2. Acquiring and Preparing Human Resources

5.2.1. Identifying human resource requirements—that is, human resource planning, recruiting employees, and selecting employees

5.2.2. Training employees to have the skills needed to perform their jobs

5.3. Assessment and Development of Human Resources

5.3.1. Measuring employees’ performance

5.3.2. Preparing employees for future work roles and identifying employees’ work interests, goals, values, and other career issues

5.3.3. Creating an employment relationship and work environment that benefits both the company and the employee

5.4. Compensating Human Resources

5.4.1. Creating pay systems

5.4.2. Rewarding employee contributions

5.4.3. Providing employees with benefits

5.5. Special Issues