Human Resource Management and Labour Relations Study Guide
This guide covers the fundamental principles and practices of Human Resource Management (HRM), including strategic planning, talent acquisition and development, performance management, compensation and benefits, and navigating the legal landscape of employment. It also addresses the dynamics of labor relations and collective bargaining within organizations.
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Analyzing Business Environments and International Trade
The Environment of Business
This document explains the concepts of multiple organizational environments including the economic, technological, political-legal, and sociocultural environments.
- External Environment
- Economic Environment
- Business Cycle
- Economic Stability
- Unemployment
- Technological Environment
- Political-legal Environment
- Sociocultural Environment
Understanding the External Business Environment
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Analyzing the External Business Environment
An examination of the technological, political-legal, socio-cultural, and industry environments that impact how a company creates value and manages corporate boundaries.
- Technological Environment
- Political-Legal Environment
- Socio-Cultural Environment
- Porter’s Five Forces Model
- Outsourcing
- Acquisitions and Mergers
- Divestitures and Spinoffs
- Friendly and Hostile Takeovers
- Strategic Alliances
- Subsidiary and Parent Corporations
- Economic Indicators
- Fiscal and Monetary Policy
Analyzing the Business Environment and Industry
The business environment involves analyzing the industry environment using Porter’s five forces model, core competencies, outsourcing, and redrawing corporate boundaries.
- Porter’s five forces model
- Industry environment
- Core competencies
- Outsourcing
- Social media
- Acquisitions and Mergers
- Horizontal, vertical or conglomerate mergers
- Friendly or hostile takeovers
- Divestitures and Spinoffs
- Strategic Alliances
- Joint venture
The Global Context of Business
Globalization involves the integration of markets globally, creating an interdependent system influenced by emerging markets, competitive advantages, and foreign exchange rates.
- Globalization
- Imports
- Exports
- Major world marketplaces
- Emerging markets
- BRICS nations
- Absolute advantage
- Comparative advantage
- Foreign exchange rate
- Currency depreciation
- Currency appreciation
International Business Management and Organizational Structures
International business management involves exporters, importers, international firms, and multinational firms using various organizational structures to conduct business abroad.
- Exporter
- Importer
- International Firm
- Multinational Firm
- Independent Agent
- Licensing Arrangement
- Franchising
- Branch Office
- Strategic Alliance
- Joint Venture
- Foreign Direct Investment
Barriers to International Trade
Social, cultural, economic, legal, and political differences create barriers to international trade.
- Social and cultural differences
- Language
- Population demographics
- Religious differences
- Social beliefs
- Shopping habits
- Economic differences
- Planned vs. market economies
- Legal and political differences
- Quotas
- Embargo
- Tariffs
- Subsidy
- Protectionism
- Local-content laws
- Business practices
- Bribes
- Dumping
- Cartels
- General Agreement on Tariffs and Trade
Human Resource Management and Labour Relations
Managing Human Resources and Labour Relations
This chapter covers human resource management, including human resource planning, recruiting, selecting, developing, and evaluating employee performance.
- Human resource management
- Human resource planning
- Job analysis
- Job description
- Job specification
- Internal recruiting
- External recruiting
- Recruitment vs selection
- Selection methods
- Training and development
- On-the-job training
- Off-the-job training
- Management development training
- Team building
- Performance appraisal
- Performance feedback
- Ranking methods
- Rating methods
Managing Human Resources and Labour Relations
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Compensation, Benefits, and Hiring Costs
This topic covers basic compensation, performance-based compensation, benefits, and the various expenses involved in the total cost of hiring someone.
- Basic Compensation
- Wages
- Salaries
- Pay Surveys
- Job Evaluation
- Performance-Based Compensation
- Individual Incentives
- Piece-rate plan
- Bonus
- Pay-for-performance
- Pay-for-knowledge
- Team and Group Incentives
- Profit-sharing
- Gainsharing
- Mandated protection plans
- Optional protection plans
- Paid time off
- Wellness programs
- Cafeteria-style benefits plan
- Recruitment costs
The Legal Context of HRM
This material explores the legal context of HRM including equal employment opportunity, employment equity, comparable worth, sexual harassment, and managing workforce diversity.
- Equal Employment Opportunity
- Canadian Human Rights Act of 1977
- Bona fide occupational requirement
- Employment Equity Act
- Comparable Worth
- Pay Equity
- Sexual Harassment
- Quid pro quo harassment
- Hostile work environment
- Health and Safety Programs
- Retirement
- Managing Workforce Diversity
- Managing Knowledge Workers
Challenges in the Changing Workplace
This content explores managing contingent workers, working with organized labour, and the legal environment for unions in Canada.
- Managing Contingent Workers
- Labour Unions
- Collective Bargaining
- Unionism Today
- Union–Management Relations
- Canadian Labour Code
- Union Organizing Strategy
- Union Security Levels
- Closed Shop
- Agency Shop
- Open Shop
- Bargaining Zone
- Collective Agreement
- Impasse
- Union Tactics
- Management Tactics
- Conciliation
- Mediation
- Arbitration
- Reverse Mentoring
Employee Training and Performance Management
This document covers performance appraisal methods, reverse mentoring, and labour management negotiation processes.
- reverse mentoring
- critical incident method
- 360-degree feedback
- bona fide occupational requirement
- mediation
Fundamentals of Management and the Management Process
Management, Corporate Culture, and Planning
This material explores management processes including corporate culture, contingency planning, crisis management, tactical planning, and the SMART guideline for effective goal setting.
- contingency planning
- crisis management
- corporate culture
- communicating the culture
- managing change
- tactical planning
- management process
- human relations skills
- conceptual skills
- time management skills
- decision-making skills
- SMART guideline
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