Business Essay

37693 Words151 Pages
CHAPTER 1 Human Resource Management: Gaining a Competitive Advantage LO LEARNING OBJECTIVES After reading this chapter, you should be able to: LO1 LO2 LO3 LO4 LO5 LO6 LO7 Discuss the roles and activities of a company’s human resource management function. page 5 Discuss the implications of the economy, the makeup of the labor force, and ethics for company sustainability. page 14 Discuss how human resource management affects a company’s balanced scorecard. page 27 Discuss what companies should do to compete in the global marketplace. page 43 Identify the characteristics of the workforce and how they influence human resource management. page 48 Discuss human resource management practices that support high-performance work systems. page 49 Provide a brief description of human resource management practices. page 56 Enter the World of Business Starbucks: Refocusing on the Brew Using HR Practices Starbucks, the Seattle-based coffee store, has experienced incredible growth in the past several years by opening more than four stores and adding 200 employees each day. However, Starbucks has had to change its strategy and reposition its brand to cope with the recession that has caused consumers to save more and spend less. Because of its growth goals, the company made poor selection for new stores, cluttered the stores with merchandise, and lost its focus on coffee. Howard Schultz, who returned to the Starbucks chief executive officer (CEO) position in 2008, has supported refocusing the company on coffee by ordering a phaseout of breakfast sandwiches and cutting the number of new store openings. The company has had to change its human resource policies and emphasize certain practices more than others while still trying to preserve its value-and-treatemployees-right approach that is part of the company culture. One of the company’s six guiding principles is “to

More about Business Essay

Open Document