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Briefcase

Unit 2 - Human Resource Management - QB

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Chart Increasing

Unit 1 - Introduction To Business Management - QB

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Money Bag

Unit 3 - Finance & accounts - QB

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Direct Hit

Unit 4 - Marketing - QB

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Factory

Unit 5 - Operations management - QB

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Bar-Chart

Unit 6 - Assessment

<ul>
	<li>Definition: Novel ideas leading to valuable solutions.</li>
	<li>Innovation vs. Inertia: Inertia is the opposite of innovation; it means resistance to change.</li>
	<li>Why it&#39;s crucial
	<ul>
		<li>💡 Innovations come from people. So, to be innovative, businesses must
		<ul>
			<li>Hire the right talent.</li>
			<li>Retain the right talent.</li>
		</ul>
		</li>
		<li>🌟 Real-World Example: Think of Apple! Their innovation came from the minds of people like Steve Jobs. They fostered a creative environment, leading to products like the iPhone.</li>
	</ul>
	</li>
</ul>

<ul>
	<li>Ethics: Morally right or acceptable behavior.</li>
	<li>Connection with HR
	<ul>
		<li>HR processes are relationship-driven, meaning how businesses treat their employees is paramount.</li>
		<li>With the Internet, unethical treatment can quickly become public.</li>
	</ul>
	</li>
	<li>🌟 Real-World Example: After the global financial crisis, some banking executives were criticized for massive salaries despite poor performance. Due to public outcry, many had their compensation packages revised.</li>
</ul>

<ul>
	<li>Impact on HR
	<ul>
		<li>A diverse workforce means varied cultural backgrounds. Businesses that tailor their HR plans to these differences are more successful.</li>
		<li>This is especially true for MNCs or even local businesses hiring migrant workers.</li>
	</ul>
	</li>
	<li>Power Distance 🎩💼
	<ul>
		<li>Concept: Developed by Geert Hofstede, it signifies societal acceptance of inequality.</li>
		<li>What it means
		<ul>
			<li>High power distance: People accept unequal distribution of power without expecting consultation in decision-making.</li>
			<li>Low power distance: People expect a more egalitarian approach.</li>
		</ul>
		</li>
	</ul>
	</li>
	<li>🌟 Real-World Example: In some countries, a CEO might never be questioned. In others, employees expect to have a say in decisions.</li>
	<li>Benefits of understanding cultural differences:
	<ul>
		<li>Minimize misunderstandings and conflicts.</li>
		<li>Boost innovation and creativity.</li>
	</ul>
	</li>
</ul>

🌟 Real-World Example: Teams at Google come from diverse backgrounds. Their varied perspectives lead to innovative solutions, like Google Maps or Google Translate. 
&nbsp;

✨ Tip for success: Embracing and understanding innovation, ethics, and cultural differences can propel a business&#39;s HR processes to excellence, ensuring a happier and more productive workforce! 🌐🚀 
&nbsp;

Study fun challenge! 🎉 Find a multinational company and see if you can identify how they&rsquo;ve adapted their HR processes due to cultural differences in the countries they operate in!

Innovative HR: Balancing Ethics, Culture, And Creativity

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Standard Level

Business Management SL

Unit 2 - Human Resource Management - QB

Innovative HR: Balancing Ethics, Culture, And Creativity

Table of content

Innovation & HR 🚀

Ethical considerations in HR 🌍

Unlock the Full Content!

Unit 2 - Human Resource Management - QB

Innovative HR: Balancing Ethics, Culture, And Creativity

Table of content

Innovation & HR 🚀

Ethical considerations in HR 🌍

Unlock the Full Content!