Foundations of HRM: Theories, Economics, and Power

📋 Course Outline

1. Theories in HRM
2. Personal Economics
3. Strategic HRM
4. Human Capital Theory
5. Principal-Agent Theory
6. Transaction Cost Analysis
7. Power Resources
8. Political Perspective
9. Work and Labor
10. Conflict Management

📖 1. Theories in HRM

🔑 Key Concepts & Definitions

• Paradigms: Comprehensive approaches or perspectives that guide the understanding of phenomena within HRM, providing overarching frameworks for analysis and interpretation (source content).
• Definition of key concepts in theory: Clarified and precise explanations of fundamental ideas and constructs that form the basis for theoretical models, enabling consistent understanding and application (source content).
• Axiomatic assumptions: Fundamental, accepted premises or principles that underpin a theory, which are taken as given and serve as the foundation for deriving further propositions and hypotheses (source content).
• Falsifiable claims about relationships: Hypotheses or assertions within a theory that can be empirically tested and potentially proven wrong, ensuring scientific rigor and validity (source content).
• Theories answering what, how, and why questions about events: Structured explanations that specify the nature of phenomena (what), the mechanisms or processes involved (how), and the underlying causes or reasons (why), facilitating comprehensive understanding (source content).

📝 Essential Points