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December 17, 2018
December 17, 2018
Assignment 1: Discussion—Course Reflection As business leaders, you must determine how to best balance the legal and ethical concerns of talent management with the overall objectives of the organization. Each module of this course covered a different aspect of HRM and provided tips for implementing a range of strategies. Reflect on your work throughout this course and respond to the following: 1. What are the concepts and actions you’ve learned that can be implemented in your current or future career? 2. Are there any current best practices that you disagree with? What changes would you recommend? 3. What is the best, most valuable concept you gained from this course? Explain your choice. COURSE INFORMATION IS BELOW B7426 Strategic Talent Management This course covers research on principles and models that help organizations to scale their human talent globally. It addresses talent management strategy from planning to development. Students learn how to develop and implement effective talent management systems within a multicultural organization. Course Introduction Managers are expected to add value by managing the people in their teams effectively. This course is designed for those of you whose job responsibilities will inevitably involve managing the organization’s people, as well as the capital, material, and information assets. Simply put, managers are ultimately accountable to their organizations for the impact of human resource management (HRM) activities. To effectively manage employees to achieve organizational goals, HRM activities must concentrate on recruiting, hiring, training, improving employees’ quality of life, providing career advancement, and developing top-tier talent. Therefore, as a unifying theme for this course, these activities are linked together to help HRM form a strategic talent management system. This course will cover the following aspects of HRM: · Module 1 begins by defining the roles of HRM and exploring how certain HRM aspects, including technology and diversity, come together to further an organization’s overall strategic goals. · Module 2 will cover how local and national employment laws work to protect the needs and rights of both the company and its employees. · In Module 3, the concept of company and employee needs is further examined. You will learn about unions, organizational policies, and ethics. · Modules 4, 5, and 6 cover the more traditional components of human resources—compensation, recruitment and hiring, and training. In these modules, you will examine current trends in each of these topics. · In Modules 7 and 8, you will research new methods of employment measurement and retention and discuss ways to evaluate and adjust the overall HRM program. You will complete two major required assignments in this course. In Module 4, you will identify the key legal and ethical issues in hiring new employees for a startup manufacturing company. In Module 7, you will identify ways to motivate and retain the current employees of a successful tech company. In addition, you will take part in discussions and complete written assignments as part of this course.
1. The natural rate of unemployment depends on factors that affect the behavior of both workers and firms. Make lists of possible factors affecting workers and firms that you believe are likely to influence the natural rate of unemployment. 2. Suppose that people who previously had held jobs become cyclically unemployed at the same time the inflation rate declines. Would the result be a movement along or a shift of the short-run Phillips curve? Explain your reasoning. Suppose that the greater availability of online job placement services generates a reduction in frictional unemployment during an interval in which the inflation rate remains unchanged. Would the result be a movement along or a shift of the short-run Phillips curve? Explain your reasoning. 3. During the first half of the 1960s, two island countries with nearly identical levels of per capita real GDP—about $2,700—and the same populations—just over 1,700,000 at that time—became independent nations. One was Jamaica, and the other was Singapore. Since that time, Jamaica’s population has grown to 2,700,000 people. Singapore’s population has grown to 3,500,000. Today, Jamaica’s per capita real GDP is about $4,800. In contrast, Singapore’s per capita real GDP exceeds $31,000. Why has Jamaica’s per capita real GDP grown so much less than Singapore’s, even though Singapore’s population has increased at a faster pace? The fundamental answer is that people in Jamaica have considerably less economic freedom. In contrast to Singapore, which has business taxation and regulations rated among the least burdensome in the world, tax rates and regulatory rules in Jamaica rank among the most oppressive. As a consequence, rates of growth of saving, investment, and productivity—and, hence, per capita real GDP—in Jamaica have been far below corresponding growth rates in Singapore. In Jamaica, the cost of registering a business is 13 percent of the value of a firm’s capital, as compared with less than 0.2 percent in Singapore. In which country would you guess that more new companies are started each year? 4. Part A. A nation’s current annual rate of growth of per capita real GDP is 3.0 percent, and its annual rate of population growth is 3.4 percent. What is the nation’s annual rate of growth of real GDP? Part B: Assume that each $1 billion in net capital investment generates 0.3 percentage point of the average percentage rate of growth of per capita real GDP, given the nation’s labor resources. Firms have been investing exactly $6 billion in capital goods each year, so the annual average rate of growth of per capita real GDP has been 1.8 percent. Now a government that fails to consistently adhere to the rule of law has come to power, and firms must pay $100 million in bribes to gain official approval for every $1 billion in investment in capital goods. In response, companies cut back their total investment spending to $4 billion per year. If other things are equal and companies maintain this rate of investment, what will be the nation’s new average annual rate of growth of per capita real GDP?