ADMN2230 Human Resource Management Chapter 1

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Questions and Answers

What is NOT a function of HR and line managers in an organization?

Rewarding employees

Establishing strategic direction (correct)

Designing jobs and teams

Staffing the organization

Which aspect is NOT considered human capital?

Intangible assets like creativity

The physical assets of the organization (correct)

Knowledge acquired through formal education

Company-specific skills developed over time

Which of the following terms describes the knowledge, skills, and abilities of employees that enhance their economic value to a company?

Intellectual Property

Human Resources

Human Capital (correct)

Talent Acquisition

What is a primary reason to study Human Resource Management (HRM)?

To attract and retain top talent Signup and view all the answers

Which characteristic does NOT describe human capital?

It can be managed like physical assets. Signup and view all the answers

Which of the following best describes the role of HR managers in relation to business strategy?

They act as strategic partners with an understanding of competitive business operations. Signup and view all the answers

What is the primary difference between outsourcing and offshoring?

Outsourcing involves contracting work to external companies, while offshoring means sending jobs to other countries. Signup and view all the answers

Which of the following strategies should HR managers be familiar with to improve total quality?

Total quality improvement and Six Sigma methodologies. Signup and view all the answers

What does planned elimination of jobs imply in the context of downsizing?

A deliberate process to reduce the workforce as part of a strategic plan. Signup and view all the answers

How does globalization impact the Canadian economy according to recent trends?

70-85 percent of the economy is influenced by international competition. Signup and view all the answers

Which of the following is NOT a benefit of a no-layoff policy?

Increased employee turnover Signup and view all the answers

What is one hidden cost associated with layoffs?

Loss of institutional memory Signup and view all the answers

Which statement best describes sustainability in corporate social responsibility?

Doing business while minimizing harm to the environment Signup and view all the answers

Which practice is LEAST likely to contribute to lowering labor-related costs?

Increased investment in employee training Signup and view all the answers

The shift from touch labor to knowledge workers indicates a change in which of the following?

The physical execution of work to cognitive responsibilities Signup and view all the answers

What demographic factor is NOT mentioned in relation to changes in the workforce?

Declining educational levels Signup and view all the answers

In responding to demographic changes, what is essential for managing diversity?

Managing employees as individuals Signup and view all the answers

Which of the following statements about the effects of technology on HRM is true?

Technology allows for remote information sharing Signup and view all the answers

Which approach is commonly used by organizations to retain top talent while containing costs?

Implementing a no-layoff policy Signup and view all the answers

What is a common attitude among survivors following a layoff?

Risk aversion and paranoia Signup and view all the answers

What is the percentage weight of the mid-term exam in the overall course evaluation?

30% Signup and view all the answers

What crucial role does Human Resources Management (HRM) serve in an organization?

Managing human talent to achieve objectives Signup and view all the answers

Which of the following expectations is stated from the instructor to the students?

Answer your questions Signup and view all the answers

According to the evaluation breakdown, which component comprises the largest percentage?

Final Exam Signup and view all the answers

What does effective employee management in HRM primarily contribute to?

Higher employee productivity Signup and view all the answers

What lesson did Thomas J. Watson convey regarding personnel management?

People are fundamental to business success Signup and view all the answers

What is the primary restriction regarding the lecture slides posted by the instructor?

Slides will not cover key activities and discussions Signup and view all the answers

How does HRM impact the overall effectiveness of a business according to the provided content?

Via management of human talent to meet goals Signup and view all the answers

Study Notes

Course Information

Course name: ADMN2230 Human Resource Management
Professor: Mahbub Alam, MSc, MBA, PhD
Required text: Managing Human Resources (9th Edition) by Belcourt, M., Singh, P., Snell, S., Morris, S. & Bohlander, G. (Nelson, Toronto)

Course Evaluation

Participation: 10%
Individual Assignment: 20%
Mid-term: 30%
Final: 40%

Expectations

Students should come prepared to class and participate in class activities/discussions
Professor will facilitate learning by explaining key concepts (not the whole chapter) and answering student questions
All assigned readings are examinable, even if not covered in class

Lecture Slides

Lecture slides will be posted on BB approximately 12-24 hours before class
Not all information covered in class will be posted
Information related to activities, exercises, videos etc will not be posted

Chapter Topics (Chapter 1)

Why study HRM?
Competitive Business Issues and HRM

Human Resources Management (HRM)

HRM is the process of managing human talent to achieve organizational objectives
Key purposes of HRM: Employee efficiency and employee wellbeing

Why Study HRM? (Quotes & Points)

One Entrepreneur: Tripling business in a failing company, then losing it due to poor employee relations, highlighting the pivotal role of personnel.
Thomas J. Watson, Founder of IBM: Capital and buildings are insufficient without competent people to build a successful business.
Importance of HRM: Many businesses fail due to overlooking HRM's importance.
Importance to effective workplace relations: regardless if working in HR or not you need an understanding about people, behaviour, and HR systems to effectively motivate and manage employees

Competitive Issues and HRM - Key Issues

Issue 1: Responding Strategically to Changes & Disruptions in the Local & Global Marketplace
Issue 2: Setting & Achieving Corporate Social Responsibility & Sustainability Goals
Issue 3: Advancing HRM with Technology
Issue 4: Containing Costs While Retaining Top Talent & Maximizing Productivity
Issue 5: Responding to the Demographic & Diversity Challenges of the Workforce
Issue 6: Adapting to Educational & Cultural Shifts Affecting the Workforce

Issue 1: Responding Strategically to Changes & Disruptions in the Local & Global Marketplace (Details)

Business Strategy : HR managers need to understand firm's competitive operations/strategies from administrative to strategic partners
Understanding: Total Quality Improvement, Six Sigma, Reengineering, Change Management (Proactive/Reactive)
Responses: Downsizing (planned job eliminations), Layoffs, Outsourcing (external contractor work), Offshoring (job relocation to other countries)
Globalization High percentage (70-85%) of the Canadian economy is affected by global competition. Key impacts include partnerships with foreign firms, and lower trade & tariff barriers.

Issues 2-6 (Summary Points)

Issue 2 : Corporate Social Responsibility & Sustainability: Firm's responsibility to act in the best interest of individuals & communities; Sustainability means managing business in an environmentally responsible manner.
Issue 3 : Importance of Technology: Transition from operational labour to knowledge worker roles; collaborative software enables interactions.
Issue 4 : Controlling Costs/Productivity: Strategies for reducing Labour-related costs (e.g., benefits, downsizing, outsourcing, offshoring, employee furloughing and leasing), highlighting hidden costs ( severance, rehiring etc.) and benefits of a no-layoff policy.
Issue 5: Workforce Changes: Focuses on workforce diversity, aging workforce, and increasing levels of education in the workforce.
Issue 6 : Educational-Cultural shifts: Highlights impact of cultural/societal factors (Millennials), employee rights, job nature changes & work/life balance concerns

HRM Competencies (Issue Summary)

Human Capital & HRM: Concepts for describing the crucial role of people in organizations (Human Resources, Human Capital, Intellectual Assets, Talent Management)
Human Capital Details: Defines human capital as the intangible knowledge, skills & abilities with economic value to an organization. It emphasizes its valuable nature (company-specific skills, gained via experience, expanded via development)
Models: A model for HR competency. Emphasizing mastery of business, personal credibility, and change.

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Description

This quiz covers Chapter 1 of the Human Resource Management course. It focuses on the importance of studying HRM and the competitive business issues related to HRM. Test your understanding of key concepts and prepare for class discussions.