HUMAN RESOURCE MANAGEMENT

● Personnel management: administrative activities related to acquiring workers,

preparing them for work, overseeing their performance and providing
compensation
● Human resource management: expansion of personnel management to include
strategic planning
❖ The process of human resource management
Every Human resource staff must perform this series of activities: planning,
recruiting and selecting employees, training and developing workers, and
appraising employee performance.
● Human resource planning: “people on hand at the right time and in the right
place to make a thing go.”

- Forecasting: demand? supply

+ Demand for workers: the numbers and kinds of workers that will be
needed at various points nhu cầu nhân lực -> cần bao nhiêu nhân lực và
cần cho vị trí nào
+ Supply of workers:
➢ Within the company already? or hired in the workforce?
➢ whether enough skilled people are available in the workforce?
- Job analysis: process by which jobs are studied to determine the tasks and
dynamics involved in performing them
Several questions that must be included in job analysis:
➢ What tasks are involved in the job?
➢ What qualifications and what skills are needed to do the job?
➢ What kind of settings does the job take place in?

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 ➢ Does the job entail much time pressure or little time pressure?
+ Job description: Statement of the tasks involved in a given job and the
conditions under which the job holder will work.
+ Job specification: statement describing the kind of person who would be the
best for a given job - including the skills, education, and experience required.
● Recruiting and selecting new employees
+ Recruiter: a member of the HR staff who are responsible for obtaining new job
candidates
+ Résumé: summary of education, experience, interests, and other personal data
compiled by the applicant for a job
+ Application form: questions about experience, however, in some cases, it
might have some less strictly job-related questions
+ headhunter: a person whose job is to find people with the necessary skills to
work for particular companies and to persuade them to join those companies
10 steps in the hiring process

● Training and development

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 - mục đích: để biết về company’s goals and values, policies and procedures
- orientation: session or procedure for familiarizing a new employee to the
organization. Common topics included in orientation:
+ Company background and structure (including the chain of command)
+ Employment policies (including overtime requirements, paydays,
termination procedures, and the like)
+ Standard of employee conduct (such as dress codes and smoking
policies)
+ Benefits program (including insurance program and vacation policies)
+ Job duties and responsibilities
orientation vs training???
+ orientation: introducing new employees to the workplace, its culture, and its
policies.
+ training: teaching employees the skills and knowledge required to perform their
job tasks effectively. It is often more task-oriented and hands-on, providing
employees with the practical skills they need to excel in their roles
● Appraising employee performance
- Performance appraisal: Evaluation of an employee’s work according to
specific criteria -> the crucial step in giving them raises, promoting, demoting,
and transferring
❖ Accommodating changes in employment status
● Promoting and reassigning workers
● Terminating workers
+ lay off: stop employing sb because there is not enough work for
them to do or because of company’s current situation (econmic
crisis)
- seniority: longevity in a position or a company
- outplacement: job-hunting and other assistance that a company provides to
laid-off workers
+ fire (đuổi việc): force sb to leave their job (for not having
finished tasks or poorly performing)

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 ● Retiring workers
- mandatory retirement: required dismissal of an employee who reaches a certain
age
- worker buyout: distribution of financial incentives to workers who voluntarily
depart
❖ Compensation: payment of employees for their work
● Wage and salary administration
+ Wage vs salary
Wage: cash payment based on a calculation of the number of hours the
employee has worked or the number of units they have produced
Salary: weekly, monthly or yearly cash compensation for work

+ Incentives: Cash payments to workers who produce at a desired

level or whose unit (often the company as a whole) produces at a
desired level.
➢ bonus: cash payment in addition to the regular wage or
salary, which serves as a reward for achievement
➢ commission: payments to workers who achieve a certain
level of sales

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 ➢ profit sharing: system for distributing a portion of the
company’s profit to employees; employees are rewarded
for staying with a company and encouraged to work harder
➢ production sharing: plan for rewarding employees not on
the basis of overall profits but in relation to cost savings
resulting from increased output; for operating-level
workers

● Employee benefits and services

on-site nurseries: Where employees can visit their children during breaks during the
work day; only a few companies offer
perks (perquisites): special class of fringe benefits made available to a company's
most valuable employees
fringe benefits: compensation or financial benefits other than wages, salary
and incentive programs
+ Insurance plans and unemployment benefits
➢ unemployment insurance: goverment-sponsored program for
assisting workers who are laid off
+ Retirement benefits
➢ pension plans: company-sponsored programs for providing
retirees with income
+ Employee stock ownership plans: program enabling employees to become
(part) owners of a company
+ “Cafeteria” benefits: a newer approach that allows employees to pick their
benefits, up to a certain amount of money, to meet their particular needs
+ Health and safety programs

ORGANIZING FOR BUSINESS

❖ Defining organization

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 ● Internal organization: structural plan of an enterprise, inner structure of
authority, responsibility and accountability

❖ The formal organization: an organization with a formal record describing its

structural plan ( the formal record - organization chart = a diagram showing
how work is divided and where authority lies)

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● Authority: power granted by the organization and acknowledged by the
employees (to make decisions, give orders, and enforce compliance) ->
THẨM QUYỀN
● Responsibility: duty or task assigned to an individual or a position
within the organization
● Accountability: obligation to answer for the outcomes of their actions,
decisions, and the fulfillment of their responsibilities -> TRÁCH
NHIỆM GIẢI TRÌNH
● chain of command: the line of authority from one level of employees to
the next; makes it clear who reports to whom
● delegation: assignment of authority and responsibility to lower-level
employees -> ỦY QUYỀN
● division of labor: by task + by authority
● department: group or section of people within an organization who are
working together in a specific area
● departmentation: dividing a company’s employees into departments

● span of management: number of people a manager directly supervises

● span of control: breadth of a manager’s responsibility
+ wide span: a large number of people report directly to a manager
+ narrow span: a few people report to a manager
● tall organization vs flat organization

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 Tall organization Flat organization

- centralized - decentralized
- many levels of hierarchy -> - fewer levels of workers -> wide
narrow span span of management
- authority and responsibility: - delegation of authority to ppl in
concentrated at the top middle-management positions
● Organizational structures
- line organization: establishes a clear line of authority flowing
from the top downward through every subordinate position

- functional organization: divides employees into groups according

to their job functions + specialists have direct authority in their
area of expertise
- line-and-staff organization: divides employees into those who are
in the direct line of command and includes those who provide
staff services to line managers at various levels but who report
directly to top management
+ staff: those who supplement the line organization by
giving advice and specialized services

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 - project management and matrix organization: each employee is
assigned to both a functional group and a project team either
temporarily (project management) or permanently (matrix
organization)

❖ The changing organization

● intrapreneur: entrepreneurial managers, who are given the opportunity to
pursue new lines of business
❖ The informal organization: Organizational characteristics and relationships that
are not part of formal structure but influence how the organization achieves its
goals; Networks are formed without regard for hierarchy or departmentation

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● Grapevines: unofficial lines of communication in an organization, which
bypass the chain of command; mostly consists of personal gossip
● Office politics: a trendy way of describing the complex struggle for
dominance in organization ; ruthless manipulation of other ppl in an
attempt to gain power within the informal and formal organization
- networking
+ visibility + familiarity + image
- mentors: experienced member of an organization who serves as a
guide to a younger, lower-level employee
● Corporate culture: Organizational climate/set of values guiding and
controlling the atmosphere within a company
- macho/tough-guy culture:
+ demands immediate results and outperforming competitors
+ make quick decisions and adapt swiftly to changing
circumstance
+ win at all cost
-> in unpredictable industries, i.e. entertainment
- work-hard/play-hard culture:
+ rallies around promotions, contests and the image of a
supersalesperson
+ “work-life balance”
-> in sales-oriented firms like retailers
- bet-your-company culture:
+ relies on thorough decision-making
+ based on solid in4 and input from experts -> minimize
failures
-> in high-stakes, slow-feedback industries (oil, aerospace)
- process culture:
+ focus on technical perfection and procedures > results
-> in low-risk, slow-feedback organizations (government,
finance)

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 DISTRIBUTION
❖ The distribution mix
● channel of distribution: route that products follow on their way from the
producer to the end user
- from producer to consumer
- producer to retailer to consumer
- producer to wholesaler to retailer to consumer
- producer to agent/broker to wholesaler to retailer to consumer.
● distribution mix: combination of middlemen and channels that a
producer uses to get the product to end users
● middlemen: business people who channel goods and services from
producers to consumers
- 9 functions of middlemen:
+ Provide a sales force
+ Provide market information
+ Provide promotional support
+ Sort, standardize, and divide
+ carry stock

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 + deliver the product
+ assume risks
+ provide financing
+ buying
● Channels
- Channel alternatives
+ channels for consumer goods
+ channels for industrial goods
+ channels for services
- Channel selection
+ Intensive distribution: approach to distribution that
involves placing the product in nearly every available
outlet.
+ Selective distribution: relies on a limited number of outlets
+ exclusive distribution: middlemen are given the exclusive
right to sell a product within a given geographic area.

❖ Types of middlemen
● wholesalers: Firms that sell products to other firms that buy them for
resale or for industrial use >< retailers: Firms that sell directly to the
public
- merchant wholesalers: Independent wholesalers that take legal
title to products
+ rack jobbers: Merchant wholesalers that are responsible
for setting up and maintaining displays in a particular store
area.
- agents and brokers
+ agents: wholesalers that do not take title to products, but
that receive a commission for selling products
+ brokers: agents that specialize in a particular commodity.
- producer-owned wholesalers

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 + branch office: wholesale operation, owned by the producer
that carries stock and sells products
+ sales office: wholesale operation owned by the producer
that doesn't carry stock but takes orders
● retailers: firms that sell directly to the public
- department stores: Large retail stores that carry a wide variety of
high quality merchandise
+ scrambled merchandising: policy of carrying merchandise
that is ordinarily sold in a different kind of outlet
- bargain stores
+ discount stores: retailers that sell a variety of goods below
the market price by keeping their overhead low
wheel of retailing: process by which stores that feature low prices are gradually
upgraded until they forfeit their appeal to price-sensitive shoppers and are replaced by
competitors
+ off-price stores: retailers that offer bargain prices by
maintaining low overhead and acquiring merchandise at
below-wholesale costs
+ gray market outlet: retail establishment that obtains
products at a steep unauthorized discount and then resells
them at a bargain price
trans-shipping: Purposely ordering far more of a given product than is needed
in order to obtain the producer’s volume discount and pass along the excess to gray
marketer
+ warehouse clubs: low-priced stores that sell memberships
to small retailers and members of employee groups
+ catalog showrooms: retail stores in which customers
browse through catalogs and then receive the items they
select from an on-premises warehouse.
+ variety stores: Stores that sell a wide selection of
low-priced items

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 + factory outlets
- specialty stores: stores that carry only particular types of goods
- supermarkets: large departmentalized food stores
- convenience stores: food stores that offer convenient locations
and hours, but stock a limited selection of goods
- nonstore retailers
+ mail order firms: companies that sell products through
catalogs and ship them directly to customers by mail
+ vending machines
+ door-to-door retailers
❖ Physical distribution: All the activities required to move finished products from
producer to consumer
● In-house operations
- order processing: functions involved in receiving and handling an
order

- warehousing
warehouse: Facility for storing backup stocks of supplies
or finished products.
distribution center: warehouse facilities that specialize in
collecting and shipping merchandise
+ materials handling: the movement of goods within and
between physical distribution facilities. The main concern
is storage methods

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 + inventory control: manage stock levels to have adequate
supplies and finished goods without incurring excessive
costs
containerization: use of large, standard-sized sealed
containers for shipping merchandise

● Transportation

Modes of
transportation
👍👍👍 ❌❌❌
Trucks 🚚 - Most frequently used
- door-to-door delivery from
- cannot carry all types of
cargo ( xx heavy, bulky
manufacturer to commodities: steel, and
customer coal)
- operate on public highways, do
not require expensive
terminals

Railroads 🚂 - carry heavier, more diversified, - seldom deliver directly

larger volume of cargoes to the customer
- slower than road or air
transport

Airplanes ✈️ - fastest
- for small, valuable, perishable
- least dependable and
most expensive
products - many areas are still not

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 served by conveniently
located airports
- carry only certain types
of cargo

Ships ⛴️ - cheapest
- for low-cost bulk items
- slow
- service is infrequent
- reload may add
substantial cost

Pipelines - provide dependable, - little use for other types

continuous delivery for liquid, of goods
and natural gas - build and maintain
pipelines involves
substantial investment and
maintenance costs

MARKETING and CONSUMER BEHAVIOR

❖ A definition of marketing
● Marketing: the process of planning and executing the conception, price,
promotion, and distribution of ideas, goods, and services to create
exchanges that satisfy individual and organizational objectives
● The evolution of marketing

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 + marketing concept: belief that a business must determine and
satisfy customer needs in order to make a profit
+ competitive advantage: quality that makes a product more
desirable than those offered by the competition
+ product differentiation: features that distinguish one company’s
product from another company’s
● The utility of marketing
- utility: the usefulness of a product to customers

+ Form utility: consumer value created by transforming

inputs into product
+ place utility: consumer value added by making a product
available in a convenient location
+ time utility: consumer value added by making a product
available at a convenient time
+ possession utility: consumer value when sb owns a
product
● Marketing functions: 8

❖ Marketing strategy: overall plan for marketing a product or service

● Types of markets

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 -
market: the group of people who might need or want a product
and who have the money and authority to buy it
+ consumer market: population of individuals who buy
goods and services for personal use or household use
+ industrial/organizational market: customers who buy
goods and services for resale or for use in conducting their
own business
- market segments: groups of individuals or organizations within a
market that share certain common characteristics
- target market: specific groups of customers a company want to
sell their products and services to
● The marketing mix: blend of marketing elements that satisfies the
demands of a chosen market segment
- The 4Ps

Unique Selling Point (USP): a feature of a product that makes it different from and
better than all its competitors

Penetration pricing - sets a low price

Skimming pricing - sets an initial high price and then slowly lowers the price
Competition pricing - setting a price in comparison with competitors

price-sensitive buyer
● A blend of elements
- compatibility of elements
- fit with company capabilities

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 - leverage against competitors
- responsiveness to the environment
+ economic forces
+ social trends
+ legal and regulatory considerations
+ technological forces
❖ The marketing process

● marketing research: process of gathering in4 about marketing problems

and opportunities
❖ Consumer behavior
● Analyze buying motives
- consumer buying behavior
A decision-making process of consumers
Choice = need + ability to buy + attitude toward brand name of that product
➢ rational motives: logical reason for doing sth
+ cost
+ dependability (durability)

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 + usefulness
➢ emotional motives: personal reason for doing sth which satisfies
underlying feelings
+ sensory satisfaction
+ fear (motivate ppl to take care of themselves and avoid
unnecessary risks)
+ pride
+ sociability: the desire to be with other ppl
+ emulation: the desire to imitate others
- industrial/organizational buying behavior: more rational
● Segment the market: divide a market into subgroups
- geographic segmentation
- demographic segmentation
+ demographics: study of the numerical characteristics of a
population
+ disposable personal income: money that a family has to
spend after paying taxes
+ discretionary income: money that can be spent on
nonessentials
- behavioristics segmentation: categorize customers based on their
relationship with products or response to product characteristics
- psychographic segmentation: classify customers based on their
psychological makeup

OTHERS

- front office: work directly with customers

>< back office: rarely see customers

- cost: chi phí bỏ ra

>< price: giá bán

profit = cost - price

⬆️price -> ⬆️ turnover

- turnover (doanh thu): the total value of a company’s sales, calculated by multiplying
the number of units sold by by the price of each unit

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- profit margin (biên lợi nhuận): the difference between the cost of producing a unit
and the price of selling that unit, đc thể hiện dưới con số %

niche market: low turnover / high margin

mass market: high turnover / low margin

- franchise: nhượng quyền (trả tiền thương hiệu, nguyên liệu, …)

- CIF: cost insurance freight (bảo hiểm + chi phí vận chuyển)

- FOB: free on board ( free cho đến lúc hàng đến cảng)

=> dùng cho giao hàng quốc tế, đường biển

- CFR: cost and freight

- net: đã trừ các khoản khác

>< gross: total (chưa trừ)

- specification (quy cách sản phẩm) yêu cầu đối với sp công nghệ
- terms of payment: phương thức thanh toán
- replacement: hàng thay thế

- problem: vấn đề nghiêm trọng

- issue: vđ gây tranh cãi
- matter: vấn đề đang đc bàn đến

- customer: y/c nghiên cứu lý do blabla

- consumer: cần đc giải quyết sự bất mãn của mình

applicant vs candidate???
- applicant: someone who apply for a position by submitting a resume,
cover letter, or a formal application. This is the initial stage of the hiring
process
- candidate: sb who has been shortlisted for interviews or who are
undergoing further evaluation in the hiring process; has progressed

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 beyond the initial application stage and is being considered for a specific
position -> are likely to be selected for a job
job analysis vs performance appraisal???
- Job analysis: process by which jobs are studied to determine the tasks and
dynamics involved in performing them
- Performance appraisal: Evaluation of an employee’s work according to specific
criteria
formal vs informal organization?
- formal organization: an organization with a formal record describing its
structural plan
- informal organization: Organizational characteristics and relationships that are
not part of formal structure but influence how the organization achieves its
goals; (Networks in informal organization are formed without regard for
hierarchy or departmentation)
flat vs tall organization?
- flat organization: the organization that is decentralized, characterized by wider
spans of management and greater delegation of authority to people in
middle-management positions
- tall organization: highly centralized operation, with many levels of workers and
most of the authority and responsibility concentrated at the top
retailer vs reseller?

Retailer Reseller

Who are they? A retailer is basically a A reseller is a person or

store where customers company who simply
come in and buy products, buys products and tries to
the most common type of sell it to people without
business. necessarily having an
establishment.

Receives goods from receive the goods from a buy products from a
wholesaler or producer retailer or a person and
which directly then sell them to someone
manufactures the goods. else at a profit.

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 Goods sold to They sell the goods to the They may resell the
end-user. products to any-one
including the retailer,
wholesaler, consumer, etc

profit vs revenue?
- revenue: the total amount of income generated by the sale of goods or services
related to the company's primary operations
- profit/bottom line: the amount of income that remains after deducting all
expenses from the revenue

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