Navigating Human Resources in the Globalized 21st Century Business Environment

2. Chapter 1 Human Resources in the Globally Competitive Business Environment

3. 21st Century Corporations • Global • The timeline for the globalization of companies is as follows: • Early days: a company that sold goods overseas • Middle period: a company that held manufacturing and sales of good in other countries • 21st Century: a company that recruits a countries local talent and most of all the acquisition of overseas “intellectual property.” • Speed • Speed in the 21st century company is a business strategy that operates in a virtual network of suppliers, manufacturers, and delivery

4. People Driven Enterprises • The successful 21st century company is one that realizes that it is the people that make-up the business • The key ingredients of the 21st century are as follows: • The understanding of Challenge • The seizure of Opportunity • The management of Frustration

5. Managing People • Considerations of an affective manager • Staffing • Retention • Development • Adjustment • Managing Change

6. Key Features of the Competitive Business Environment • Globalization • Technology • E-Commerce • Understanding of Changing Demographics • Understanding of increasing cultural diversity

7. New Competitive Realities • Emergence of smaller companies with fewer employees • Decline of management hierarchies with an increase of networks of specialists • Increase of technicians to keep computers running, etc • Decline of the importance of seniority shifted to compensation and company standing based on the market value of a given position

8. Competitive Strategies • Competitive strategies of the 21st century company • Innovation • Quality Enhancement • Cost-Reduction • Speed

9. Achieving Competitive Strategies through HRM • Innovation Strategy Requires • Highly Skilled Employees • Higher Employee Discretion • Higher Investment and risk • Quality Enhancement Requires • Repetitive behaviors from management through production • Long-term focus • Modest amount of independent employee discretion • Highest emphasis on Quality

10. Achieving Competitive Strategies through HRM • Cost Reduction Strategy Requires • Tight fiscal and management controls • Minimization of overhead • Pursuit of strict economies of scale (overall company size and focus control) • Speed Requires • Highly skilled employees who are time-focused • Managers and employees must support change • Company culture must mirror fast-paced model

11. The Importance of Productivity • Companies must give employees a higher stake in its success • Companies must convince employees that rewards are derived from productivity • Companies must recognize that no productivity problems have a “quick fix” • Companies must embrace the philosophy of constant learning and improvement

12. The Emergence of QWL • Quality of Work Life has distinct structures • Driven by employee understanding of company practices, management democracy, and employee evolvement • Driven by employee overall satisfaction and safety

13. Business Trends and Human Resource Competencies • Human Resource Managers must embrace the following principles in alignment with the following business trends: • Strategic Partnerships • Innovation • Collaboration • Change Facilitation