Flashcards: Foundations of HRM: Theories, Economics, and Power — 20 cards

Theories in HRM — foundation?

Built on paradigms, definitions, and testable claims.

Personal Economics — market process?

Matches labour demand with supply amid risks and asymmetries.

Strategic HRM — focus?

Aligns HR practices with organizational strategy and motivation.

Human Capital Theory — key asset?

Skills and knowledge that increase productivity and value.

Principal-Agent Theory — main issue?

Aligning agent effort with principal interests amid information asymmetry.

Transaction Cost Analysis — goal?

Reduce costs of contracting, monitoring, and resource allocation.

Power Resources — define?

Assets like control rights and information that influence relations.

Political Perspective — workplace view?

A space of conflicting interests and power struggles.

Work — Marx’s view?

Activity transforming resources into goods or services.

Labour Power — Marx?

Worker’s capacity to work, sold as a commodity.

Latent conflicts — description?

Hidden disagreements that can escalate if unnoticed.

Manifest conflicts — description?

Open disputes like strikes or protests.

Conflict management — purpose?

Handle disputes to maintain stability and promote cooperation.

Paradigm in HRM — role?

Guides understanding with broad perspectives and assumptions.

Falsifiable claims — importance?

Allow empirical testing to validate or reject theories.

Labour market — characteristic?

Dynamic process with asymmetries and bounded rationality.

Work as a commodity — Marx?

Labour power sold temporarily, not as property.

Unilateral employer authority — reason?

Due to incomplete contracts and information gaps.

Power resources — Weber?

Means to enforce will, including ownership and info advantage.

Actor interests in HR — influence?

Shape policies through power, negotiations, and societal norms.