Human Resources Management: Key Concepts Summary
Chapter 6: Consumer Behaviour
Process of choosing, using & disposing products + influencing factors. Four key influences:
Cultural
Culture = values, beliefs, customs. Subculture = group within culture. Social class = income + occupation + education.Social
Membership groups (friends, school). Aspirational groups (celebs/influencers). Opinion leaders & family.Individual
Income, age, gender, family life cycle. Personality, lifestyle, self-concept.Situational
Store mood, crowding, promotions, salespeople. Temporary (ex. Shopping when tired/hungry).Psychological Factors
Learning, beliefs, attitudes, perception.Cialdini’s 7 Persuasion Principles
Reciprocation – give to get. Liking – we say yes to people we like. Social Proof – we follow others. Authority – we trust experts. Consistency – act consistent w/ values. Scarcity – want what’s rare. Unity – “us” > “them”.Product Life Cycle (PLC)
Intro: high failure, educate market. Growth: sales rise, profits peak. Maturity: saturated, max competition. Decline: sales drop — either harvest, divest, or reinvent.Chapter 7: Hiring Process & Group Assignment Cheat Sheet
Steps for hiring
Job Analysis: Define tasks, KSAOs. Output: Job description (what job is) vs. Specification (what kind of person is needed). Recruitment: Internal: promotions, HRMS, postings. External: job boards, social media, fairs. Plan staffing needs & create pool of qualified applicants. Selection: Choose best candidate from applicants. Interviews: structured, situational, behavioral. Tests: knowledge, work samples, cognitive, assessment centers. Orientation/Training/Onboarding: Orientation = intro to job/org. Training = skills/knowledge. Onboarding = fit into culture.
Class 8: Performance Management Cheat Sheet
Performance Management (PM)
= Creating work environment for optimal employee performance to meet goals. Purpose: Benefits employees (feedback, growth) + employers (goal alignment).
SMART Goals
Specific, Measurable, Achievable, Relevant, Timely. Example: “Complete onboarding by Q3 to boost retention.” Non-example: “Increase social media engagement.” Performance Review Methods:Trait: Personality/subjective (e.G., “leadership potential”). Behavioral: Job actions (best for development). Results: Measurable outcomes (e.G., sales targets).
Rating Errors
Recency: Overweighting recent behavior. Contrast: Bias from comparing employees. Similar-to-me: Inflation due to personal connection.Factors Affecting Performance
Controllable by manager: Resources, training, feedback. Employee-controlled: Effort, skill application.Academic Argument Cheat Code
Opinion → Case facts → Theory → Recommendation.Class 9: Performance Management Part 2 & Firing
Why Performance Reviews Matter
Align roles with business goals. Clarify job expectations. Enable feedback/development. Reward performance (beyond $).
Reward System Tips
Beyond money: Training, recognition, flexible work. Motivate all: Link rewards to SMART goals + team incentives.Firing Process
Terminology: Dismissal: Termination for cause (incompetence, misconduct). Costs: Separation, vacancy, replacement, training. Types: Just Cause (e.G., dishonesty). Wrongful (illegal termination).Termination Interview (6 Guidelines)
Plan the discussion. Be direct; avoid small talk. Explain briefly (e.G., “role not met”). Listen actively. Review severance. Outline next steps (e.G., returning equipment).Employee Reactions
Hostile → Defensive → Stoic → Emotional.Class 10: Managing Your Career
Career Stages
Establishment: Characteristics: Entry-level, high uncertainty, needs guidance. Needs: Training, mentorship, feedback. Tips: Seek mentors, build foundational skills, be proactive. Advancement: Characteristics: Growth-focused, independent contributor. Needs: Challenging projects, visibility, sponsorship. Tips: Network actively, showcase leadership, seek senior sponsors. Maintenance: Characteristics: Established role, focuses on mentoring. Needs: Autonomy, mentoring opportunities, continuous learning. Tips: Mentor juniors, pursue ongoing education, work-life balance. Withdrawal: Characteristics: Transition to retirement. Needs: Recognition, consultative roles, lifestyle adjustment. Tips: Plan retirement, share expertise, explore hobbies.
Managing Relationships
Subordinate Needs: Task-related: Clear goals, feedback. Personal: Career guidance, skill development. Superior Needs: Loyalty, task support, technical/psychological assistance.Giving Feedback
DO: Describe behaviors (not evaluate). Use specific examples. Offer actionable steps. Listen actively.Receiving Feedback
DO: Avoid defensiveness. Rephrase/summarize feedback. Ask for clarification. Take responsibility.Managing Yourself
Self-Assessment: Evaluate career stage + set SMART goals. Networking/Mentorship: Build peer/mentor networks for support. Career Planning: Create short/long-term plans + align opportunities.Chapter 6: Consumer Behaviour
Process of choosing, using & disposing products + influencing factors. Four key influences:
Cultural
Culture = shared values/beliefs/customs shaping preferences. Subculture = distinct groups (religious/ethnic) with specialized needs. Social class = hierarchical groups based on income/occupation/education influencing buying power.
Social:
Membership groups = direct influence from friends/colleagues. Aspirational groups = idealized figures (celebrities/influencers) driving emulation. Opinion leaders = experts shaping category decisions. Family = most fundamental influence unit.
Individual
Income/age/gender/family life cycle = objective demographic factors. Personality/lifestyle/self-concept = psychological profile affecting brand alignment.
Situational
Physical environment = store atmosphere/crowding/promotions. Temporary states = fatigue/hunger/urgency altering decision patterns.
Psychological Factors
Learning = experience changing behavior. Beliefs = brand perceptions. Attitudes = consistent evaluations. Perception = information filtering.
Cialdini’s 7 Persuasion Principles
Reciprocation = obligation to repay favors. Liking = affinity for similar people. Social Proof = conformity to crowd behavior. Authority = deference to expertise. Consistency = commitment to past actions. Scarcity = fear of missing out. Unity = shared identity (“we” mentality).
Product Life Cycle (PLC)
Intro = high R&D costs, focus on early adopters. Growth = rapid sales increase, competitors emerge. Maturity = market saturation, price wars. Decline = innovation or discontinuation.
Princess Polly Case
Gen Z targeting via SMS (98% open rate → 73x ROI). Key tactics: Hyper-personalization, urgency messaging, UGC integration.
Chapter 7: Hiring Process & Group Assignment Cheat Sheet
Steps for hiring
Job Analysis = Task/KSAO identification via observation/surveys. Outputs: Job description (duties) vs. Specification (candidate requirements like “CPA certification”).
Recruitment = Sourcing pools: Internal (promotions/databases) reduces onboarding time; External (LinkedIn/job fairs) brings fresh skills.
Selection = Assessment tools: Structured interviews (fixed questions), behavioral interviews (“Tell me a time…”), work samples (real-task simulation), cognitive tests (problem-solving).
Orientation/Training/Onboarding = Orientation = policy overview (1-2 days). Training = skill-building (weeks). Onboarding = cultural integration (3-6 months).
Class 8: Performance Management Cheat Sheet
Performance Management (PM)
= Continuous cycle: Goal setting → Monitoring → Review → Feedback. Purpose: Aligns individual output with organizational strategy.
SMART Goals
Specific (unambiguous), Measurable (quantifiable), Achievable (realistic stretch), Relevant (strategy-linked), Timely (deadline-driven). Critical error: Vague goals like “Improve customer service” vs. “Reduce response time to 24hrs by Q4.”
Performance Review Methods
Trait = subjective ratings (risks bias). Behavioral = critical incidents method (observable actions). Results = OKR/KPI-focused (sales targets).
Rating Errors
Recency = overvaluing last-month performance. Contrast = unfair peer comparisons. Similar-to-me = favoring clone employees.
Margaret Jefferson Case
Hiring Gary Hart without SMART goals → role ambiguity → performance failure. Lesson: Define expectations upfront.
Academic Argument Cheat Code
Opinion → Case facts (e.G., “Gary missed 3 deadlines”) → Theory (e.G., Goal-Setting Theory) → Recommendation (e.G., “Implement SMART goals”).
Class 9: Performance Management Part 2 & Firing
Why Performance Reviews Matter
Prevent “I didn’t know” excuses. Document progress for promotions/terminations. Turn feedback into development plans.
Zero Wage Increase Case (Mark)
Option A (all raises): ✅ Boosts morale short-term; ❌ Demotivates top performers long-term.
Option B (no raises): ✅ Cost savings; ❌ Talent drain risk.
Option C (selective raises): ✅ Rewards merit; ❌ Requires transparent criteria to avoid resentment.
Reward System Tips
Non-monetary motivators: Development opportunities (training), recognition (employee of month), flexibility (WFH options).Firing Process
Just Cause = provable misconduct (theft/harassment). Wrongful Dismissal = illegal termination (discrimination). Always document warnings!Termination Interview
Script example: “Gary, your role required $50K quarterly fundraising (Specific), but results averaged $22K (Measurable). We’ll review severance including 4 weeks pay.”Employee Reactions
Hostile = stay calm, repeat facts. Emotional = offer tissues, avoid false sympathy.
Class 10: Managing Your Career
Career Stages
Establishment = Skill-building phase: Seek stretch assignments, request monthly feedback.
Advancement = Visibility phase: Volunteer for cross-departmental projects, cultivate executive sponsors.
Maintenance = Legacy phase: Reverse mentoring (learn from juniors), job crafting (redesign role).
Withdrawal = Transition phase: Phased retirement (3-day weeks), knowledge transfer sessions.
Managing Relationships
Superior tip: “Manage up” by anticipating needs (e.G., preparing briefing docs before meetings).Feedback Techniques
Giving = “Situation-Behavior-Impact” framework (“In yesterday’s meeting (S), you interrupted clients (B), which appeared disrespectful (I)”). Receiving = Ask: “One thing I should start/stop/continue?”
TED Talk Tactics (LeeAnn Renniger): 1. “Micro-yes” question (“Can I share feedback?”). 2. Data point (“Over 3 weeks, deadlines missed by 2+ days”).Self-Management
Quarterly “career audits”: Assess skills gaps, network reach, goal progress. Use SWOT analysis.