1. Human Resources
2. Human Capital
3. Intellectual Assets
4. Talent Management

• Used by Human Capital Managers
• A set of principles and practices whose core ideas include understanding customer needs, doing things

Outsourcing: contracting outside the organization to have work done that formerly was done by internal employees

Offshoring:the business practice of sending jobs to other countries

opening foreign markets to international trade and investment

Impacts of Globalization

• "anything, anytime, anywhere" markets
• partnerships with foreign firms
• lower trade and tariff barriers

a computerized system that provides current and accurate data for purposes of control and decision-making

• carefully managing employees' benefits
• downsizing, outsourcing, offshoring
• layoffs

• more diverse workforce
• aging workforce
• more educated workforce

• Wagner Act (National labor Relations act) of 1935
• Taft-Harley Act (Labor management relations act) of 1947; amendment to Wagner Act
• Landrum-Griffin Act (Labor-management disclosure act) of 1959; amendment to Wagner Act

• Protects employee rights to organize and bargain collectively through representatives of their choice.
• Created National Labor Relations Board (NLRB)

• Balances rights and duties of labor and management in collective bargaining by defining unfair union practices
• Created the Federal Mediation and Concilation Service (FMCS) to help resolve negotiating disputes

• as a result of their economic needs (wages and benefits)
• dissatisfaction with managerial practices
• to fulfill social and status needs
• social and leadership concerns

• Pay fairness
• Promote more employees from within
• Conduct cultural audits
• Offer job rotations and training programs
• share information with employees
• have desirable working conditions

• challenges to management prerogatives
• loss of supervisory authority

• the process of negotiating a labor agreement, including the use of economic pressures by both parties
• Bargaining zone

• The market demand curve for labor is downward sloping
• The market labor supply curve is upward sloping
• The point of intersection betweem these two labor curves determines the equilibrium wage

1. Increases in labor productivity
2. Changes in the output price of a good

• immigration and population growth
• the number of hours workers are willing to work at a given wage
• non wage income
• amenities

the amount that an extra input adds to the firm's total costs

In competitive labor market, its market wage

The firm will hire additional labor as long as doing so adds more to revenue than cost

Firms hire workers up til marginal revenue product equals the wage rate (MRC)

the inability of labor force participants to find paid employment

1. without a job
2. would be able to take a job
3. has seeked work for 4 weeks

• Seasonal
• Frictional
• Structural
• Cyclical

Prohibits employment discrimination on the basis of race, sex, color, religion, or national origin

Established the Equal Employment Opportunity Commission (EEOC) to protect this

• Title VII of the Civil Rights Act of 1964
• Executive Order 11246
• Age Discrimination in Employment Act of 1967
• Americans with Disabilities Act of 1990
• Fair Labor Standards Act of 1938
• Equal Pay Act of 1963
• Family and Medical Leave Act of 1993
• Occupational Safety and Health Act of 1973

 Quid Pro-using sexual desires as a part of employment

Hostile Environment Harrassment-an uncomfortable work environment