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KEY TERMS of MGT501 - Human Resource Management 1. Human Resource Management The staffing functions of the management process. Or the policies and practices needed to carry out the “people” or human resource aspects of a management position, including recruiting, screening, training, rewarding, and appraising etc. Manager Individuals in an organization who direct the activities of others. Member of the organization performing the management function Motivation: Motivation means to influence performance of others and to redirect the efforts in desirable direction by using different motivational tools that can help in fulfilling the mission of organization Organization A systematic arrangement of people to accomplish some specific purpose. Competitive Advantage Any factor that allows an organization to differentiate its product or service from those of its competitors to increase market share. Stakeholders All individuals and groups that are directly or indirectly affected by an organization’s decisions Controlling: Specific activities are to set performance standards that indicate progress toward long-term goals Decisional roles included those of entrepreneur, disturbance handler, resource allocator, and negotiator activities. Disseminator is a conduit to transmit information to organizational members Disturbance handlers take corrective action in response to unforeseen problems Effectiveness: A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved Efficiency measure of how well resources are used to achieve a goal Entrepreneur: managers initiate and oversee new projects that will improve their organization’s performance Figurehead: duties that are ceremonial and symbolic in nature Informational roles included monitoring, disseminating, and spokesperson activities Interpersonal roles included figurehead, leadership, and liaison activities Leadership: hires, train, motivate, and discipline employees Leading: Leading is stimulating people to be high performers It is directing, motivating, and communicating with employees, individually and in groups. Liaison: contact outsiders who provide the manager with information. These may be individuals or groups inside or outside the organization. Line manager: Authorized to direct the work of subordinates—they’re always someone’s boss. In addition, line managers are in charge of accomplishing the organization’s basic goals. Management: Management is the process of working with different resources to accomplish organizational goals. Manager: The member of the organization who participates in the management process by planning, organizing, leading, or controlling the organization's resources Monitor: collect information from organizations and institutions outside their own Negotiator role: discuss issues and bargain with other units to gain advantages for their own unit Organizing is assembling and coordinating the human, financial, physical, informational, and other resources needed to achieve goals. Planning: Planning is specifying the goals to be achieved and deciding in advances the appropriate actions taken to achieve those goals. Resource allocators: responsible for allocating human, physical, and monetary resources vu.ysapak.com Spokesperson: represent the organization to outsiders Staff manager: Authorized to assist and advise line managers in accomplishing these basic goals. Diverse Workforce: A diverse workforce refers to two or more groups, each of whose members are identifiable and distinguishable Effectiveness: A measure of the appropriateness of the goals chosen (are these the right goals?), and the degree to which they are achieved Efficiency: Efficiency is the ratio of outputs to inputs Organization: Organization is a managed system designed and operated to achieve a specific set of objectives. Stakeholders: Stakeholders are those who have interests in the organization Structure: Structure is the basic arrangement of people in the organization. Synergy: This concept states that the whole is greater than the sum of its parts System: A system is an entity with a purpose that has interdependent parts Task: This component can be defined as a mission or purpose of the existence of organization Organizational Behavior: OB is concerned specifically with the actions of people at work Cognitive component: The cognitive component consists of a person’s beliefs, opinions, knowledge, and information held by a person. Skills & Abilities: Mental and physical capacities to perform various tasks. This comes from knowledge, learning, and experiences. Personality: The unique combination of psychological traits that describes a person. OR behaviors or trends that influence other people. Perceptions: Perception is the mental process to pay attention selectively to some stimuli and cues in our environment. Attitudes: Attitudes are comprised of feelings, beliefs, and behaviors. Values: Basic convictions about what is right and wrong. Ethics: Rules and principles that define right and wrong conduct. Individuals: Individuals are important units of any organization Group: A group is defined as two or more interacting and interdependent individuals who come together to achieve particular objectives. Team: A team is a mature group with highly independent members who are completely committed to a common goal Role: A role refers to a set of expected behavior patterns attributed to someone who occupies a given position in a social unit. Self Esteem: Self-esteem conveys people's feelings of self-worth. Brain Drain: the loss of intellectual property that results when competitors lure away key employees. Downsizing: Periodic reductions in a company's work force to improve its bottom line-often called downsizing Ethics and Social Responsibility: Corporate social responsibility refers to the extent to which companies should and do channel resources toward improving one or more segments of society other than the firm’s owners or stockholders. Ethics is the bedrock of socially responsible behavior. Outsourcing Firms: The process of transferring responsibility for an area of service and its objectives to an external provider Restructuring: A number of firms are changing the way the functions are performed. OR Restructuring is the corporate management term for the act of partially dismantling and reorganizing a company for the purpose of making it more efficient and therefore more profitable. It generally involves selling off portions of the company and making severe staff reductions Re-engineering is the radical redesign of an organization's processes, especially its business processes. Rather than organizing a firm into functional specialties (like production, accounting, marketing, etc.) and looking at the tasks that each function performs, we should, according to the reengineering theory, be looking at complete processes from materials acquisition, to production, to marketing and distribution. The firm should be reengineered into a series of processes. vu.ysapak.com Affirmative Action: Steps that are taken for eliminating the present effects of past discrimination Cohesiveness: Refers to how tightly knit the group is and the degree to which group members perceive, interpret and act on their environment in similar or mutually agreed upon ways Corporate Culture The system of shared values, beliefs, and habits within an organization that interacts with the formal structure to produce behavioral norms Mission: The organization’s continuing purpose or reason for being. Policies: A predetermined guide established to provide direction in decision-making The Labor Force: The labor force is a pool of individuals external to the firm from which the organization obtains its workers Unions: Union is a group of employees who have joined together for the purpose of dealing collectively with their employer. Authority: Authority is the right to make decisions, to direct the work of others, and to give orders. Executives: Executives are top-level managers, who report directly to the corporation’s chief executive officer or the head of a major division. Generalists: Generalists are people who perform tasks in a wide variety of human resource-related areas. The generalist is involved in several, or all, of the human resource management functions. Line Authority: Line authority entitles a manager to direct the work of an employee. Specialist: Specialist may be a human resource executive, manager, or non-manager who typically is concerned with only one of the functional areas of human resource management. Affirmative Action: An approach that an organization with government contracts develops to demonstrate that women or minorities are employed in proportion to their representation in the firm’s relevant labor market Employment discrimination: To make an employment decision, not on the basis of legitimate job-related factors Plans Plans are methods for achieving a desired result. Simulation A technique for experimenting with a realworld situation through a mathematical model representing that situation. A model is an abstraction of the real world. Strategic planning is the process by which top management determines overall organizational purposes and objectives and how they are to be achieved. Layoffs At times, the firm has no choice but to actually lay off part of its workforce. Human Resource Information System: HRISs are systems used to collect, record, and store, analyze, and retrieve data concerning an organization's human resources. Job Analysis: Studying and under-standing jobs through the process known as job analysis is a vital part of any HRM program Job Specification: A job specification is a document containing the minimum acceptable qualifications that a person should possess in order to perform a particular job Job Description: A job description is a written statement of what the jobholder actually does, ho