• Unit 4: Managing Human Capital

    This unit reviews the purpose and process of management and then extends into the function of managing people. Modern stakeholder theory is addressed as the manager considers the ethical responsibilities of managing people.

    Completing this unit should take you approximately 7 hours.

    • 4.1: Managing People

      Managing people occurs within several contexts. You may only be responsible for managing a team for one particular project. You may have a virtual team. You may manage a more traditional team within a business environment (such as retail, office, or healthcare). As a manager, you will be responsible for coaching them to reach their highest potential and ensuring that the team works together to accomplish the company's strategic goals. Managers and leaders must recognize the value of the employees in fulfilling the organization's mission. This represents a shift in the culture from a more autocratic management style. Companies that invest in their people have been shown to reap positive results on the bottom line. The materials in this section will show some current research on the value of human capital and the value of investing in employees.
    • 4.2: Management Processes

      In addition to the behaviors we need to understand and manage in the workplace, there are also processes used when managing people. The resources in this section will help you develop processes for managing human resources and their work as groups. As managers and leaders, we have to keep performance at high levels, and we need to use modern processes as much as our skill sets to achieve the organization's goals and grow people.
    • 4.3: Forces Affecting Human Capital Management

      No company operates in an isolated environment. As you learned earlier in the course, internal factors affect people management, such as time, budget, infrastructure, and human resources (HR) practices. Additionally, external pressures may affect the management of people, such as lockdowns during a pandemic. Today, high-performing organizations operate much differently than they did in the past and may even be different than they were ten years ago. This section will explore modern trends in managing human capital.
    • 4.4: Business Ethics in Human Capital Management

      In the context of this unit, we will explore business ethics in terms of how it affects managerial decision-making. We may all think we know right from wrong, but decisions are not made in a sterile environment. Most frequently, decisions have to be made when there are competing interests and the path to the decision is unclear. Additionally, it can be easy to confuse what is legal with what is ethical. Earlier, we looked at some decision-making models. Using a decision-making process can help managers when they have to weigh their ethical decision choices. This section will not tell you what is best because there is no one way to resolve an ethical decision. However, it will introduce the idea of business ethics and differing points of view on approaches that we might take in our decision-making.
    • 4.5: Managing People Ethically

      The manager represents the face of the company to their subordinates. The company is, of course, held to particular legal standards when dealing with employees. However, just meeting legal requirements does not form a relationship with the employees nor ensure that the company is acting ethically regarding their treatment of employees. The resources in this section will address the regulations affecting the employee relationship and ways to foster a satisfied workforce.
    • 4.6: Discriminatory Practices

      At this point in your career, you probably know that discrimination is against the law besides being morally and ethically wrong. We have also addressed the benefits and challenges of diversity in the workplace. However, how do we identify discriminatory practices? Given the civil unrest in the United States in 2020 with Black Lives Matter and other global civil movements on gender and racial equality, we need to question the behaviors at work that may be discriminatory. After we look at these practices, we will consider ways to manage workplace diversity and discrimination.
    • Study Guide: Unit 4

      We recommend reviewing this Study Guide before taking the Unit 4 Assessment.

    • Unit 4 Assessment

      • Receive a grade