Human Resource Management Strategy And Emerging Issues 1course Learnin ✓ Solved

Human Resource Management Strategy and Emerging Issues 1 Course Learning Outcomes for Unit I Upon completion of this unit, students should be able to: 1. Explain how the human resources function is affected by the employment trends of the 21st century. 1.1 Explain how technological advances have had an impact on daily work life. 1.2 Formulate methods for reviewing the massive global and economic trends. 1.3 Discuss the multiple U.S. labor force trends that affect competitive advantage.

1.4 Analyze how the increasing complexity of the competitive marketplace affects the organization. 1.5 Assess the structural changes in the economy due to technological advances, increased globalization, and unfavorable demographic trends. Reading Assignment Chapter 1: Welcome to the New Normal Unit Lesson Ask any human resources executive what the major issues facing the success of an organization and the human resources function in the 21st century are, and they will most likely say the following first: the impact of technological advances. Further improvements in computer and communication technologies can change every aspect of our lives. Second are the “massive global population and economic trends that are fundamentally altering the world of business and work†(Castellano, 2014, p.

9). The third is globalization: [With] the global workforce growing and becoming much more educated, putting pressure on white-collar workers’ wages and incentivizing many U.S. businesses to move operations overseas and offshore back office and IT functions. [. . .] Cheap imports from developing countries, have helped to keep inflation and interest rates down, benefitting consumers and businesses. (Castellano, 2014, p. 10) Last is the rapid increase in birth rates that occurred after World War II—now referred to as the baby boom (Castellano, 2014). Baby Boomers (76 million) are seeing 65 years old at a rate of 10,000 people per day, with Generation X (36 million) trying really hard to fill those shoes but lacking the skill sets required for many upper-level jobs.

This unit introduces the concept of an organization in an economic environment like the U.S. has never experienced. Organizations today are exposed to major shifts in the structure of the economy. These global shifts are blamed on technological advances, increased globalization, and unfavorable demographic trends (Castellano, 2014). In addition, any organization on the global stage and in the global marketplace is becoming more and more dependent and affected by minor changes to the world’s economy. The butterfly effect is the belief that if a butterfly flaps it wings in China, changes in the wind current can be felt across the world almost instantly.

That is how closely global economy is connected. One example of the butterfly effect can be found in the film It’s a Wonderful Life. This movie tells the story of George Bailey and how rewriting history so that he was never born would have detrimentally affected the lives of almost everyone in his hometown. Another example is the changing standard of living around the world. UNIT I STUDY GUIDE Welcome to the New Normal Human Resource Management Strategy and Emerging Issues 2 UNIT x STUDY GUIDE Title Today, China has a 300-million-person middle class, and the pay standards continue to rise.

When pay goes up in China with just a small variation, it impacts the global marketplace for the costs of goods and services. The human resources function must evolve from a narrowly focused business function where personnel and payroll were the major activities to a human resources function that can design formal systems. These systems will support and enhance an organization’s ability to be successful in the 21st century where the marketplace can be chaotic and changing. Systems should ensure the effective and efficient use of human capital to accomplish organizational goals. Effective human resources add value by providing leadership and essential functions for organizations that seek to remain competitive and fulfill their organizational missions.

The successful organization in the 21st century will have a competitive advantage when it is effective at harnessing the innovation and creativity of the 21st-century knowledge worker. Reference Castellano, W. G. (2014). Practices for engaging the 21st century workforce: Challenges of talent management in a changing workplace. Upper Saddle River, NJ: Pearson Education.

Suggested Reading The following article can be found in the Waldorf Online Library (Business Source Complete database): Mishra, A. (2014). Getting a good break. Business Today, 23(7), . Learning Activities (Non-Graded) After reading the Suggested Reading article, think about your own role as a future human resource executive. How will you be sure there is equity in the workplace of the 21st century?

Please discuss this in the Student Break Room. Non-graded Learning Activities are provided to aid students in their course of study. You do not have to submit them. If you have questions, contact your instructor for further guidance and information. Instructions In order to complete your case analysis successfully · identify the role you are playing, · assess the financial reporting landscape considering the user needs, constraints, and business environment, · identify the issues, · analyze the issues (qualitatively and quantitatively), and · provide a recommendation and conclusion.

An average grade will result from answering all questions with basic coverage and accuracy, showing all your work. Additional points come from including greater detail, astute, informed commentary where appropriate and connections to readings and other content. Respond in a single Word doc (or comparable text editor). Background You are a Consultant for the professional service firm, BUSI 2083 LLP. Your firm specializes in providing a wide variety of internal business solutions for different clients.

One of the partners in your practice is impressed with the work you have completed to date and would like to give you additional responsibility. She has asked you to take the lead on this engagement with the hope that a successful outcome may lead to your promotion to Senior Consultant. You take the background files from the partner and get started. Perfect Stitch Replica’s Limited, a nationwide distributor of low-cost imitation clothing, has an exclusive agreement for the distribution of the clothing. Sales have grown so rapidly over the last few years that it has become necessary to add new members to the management team.

To date, the company's budgeting practices have been minimal, and at times, the company has experienced a cash shortage. You have been given responsibility for all planning and budgeting. Your first assignment is to prepare a master budget for the next three months, starting April 1. You are anxious to make a favourable impression and have assembled the information below. Additional Information The clothing is sold to retailers for an average price of each.

Recent and forecasted sales in units are as follows: Recent and forecast sales: January (actual) 20,000 February (actual) 26,000 March (actual) 40,000 April 65,000 May 100,000 June 50,000 July 30,000 August 28,000 September 25,000 Ending inventories should be equal to 40% of the next month's sales in units. The average cost of the clothing is each. Purchases are paid for as follows: 50% in the month of purchase and the remaining 50% in the following month. All sales are on credit, with no discount, and payable within 15 days. The company has found, however, that only 20% of a month's sales are collected by month-end.

An additional 70% is collected in the following month, and the remaining 10% is collected in the second month following sale. Bad debts have been negligible. The company's monthly operating expenses are given below: Variable: Sales commissions (percentage of sales) 4% Fixed: Advertising 0,000 Rent ,000 Wages and salaries 6,000 Utilities ,000 Insurance