Chapter 1 - Human resources in a globally competitive business environment. In this chapter, the following content will be discussed: 21st-Century corporations, people-driven enterprises, managing people, key features of the competitive business environment,. | Chapter 1 Human Resources in a Globally Competitive Business Environment 21st-Century Corporations Global The timeline for the globalization of companies: Early days: a company that sold goods overseas Middle period: a company that manufactured and sold goods in other countries 21st Century: a company that is able to call on talent and resources around the globe, just as it sells its goods and services around the globe Speed Speed in the 21st century company is a business strategy built on a virtual network of suppliers, manufacturers, and delivery firms People-Driven Enterprises The successful 21st-century company is one that realizes that it is the people that make up the business Some key challenges for managers of 21st-century enterprises: Understanding the challenges the enterprise faces Seizing opportunities Managing frustration Managing People Responsibilities of all managers: Staffing Retention Development Adjustment Managing Change Key Features of the Competitive Business . | Chapter 1 Human Resources in a Globally Competitive Business Environment 21st-Century Corporations Global The timeline for the globalization of companies: Early days: a company that sold goods overseas Middle period: a company that manufactured and sold goods in other countries 21st Century: a company that is able to call on talent and resources around the globe, just as it sells its goods and services around the globe Speed Speed in the 21st century company is a business strategy built on a virtual network of suppliers, manufacturers, and delivery firms People-Driven Enterprises The successful 21st-century company is one that realizes that it is the people that make up the business Some key challenges for managers of 21st-century enterprises: Understanding the challenges the enterprise faces Seizing opportunities Managing frustration Managing People Responsibilities of all managers: Staffing Retention Development Adjustment Managing Change Key Features of the Competitive Business Environment Globalization Technology E-Commerce Changing demographics Increasing cultural diversity 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 networks operating Decline of the importance of seniority in compensation Overall worth based on performance plus the market value of a given position Competitive Strategies Competitive strategies of the 21st century company Innovation Quality Enhancement Cost-Reduction Speed HRM Requirements of Competitive Strategies Innovation Strategy Requires Highly Skilled Employees More Employee Discretion Greater Investment and Risk Quality-Enhancement Strategy Requires Repetitive and predictable behaviors Long-term focus Modest amount of cooperative, interdependent behavior High emphasis on quality, modest concern for quantity HRM Requirements of Competitive Strategies Cost-Reduction Strategy Requires .
