Podcast
Questions and Answers
What is the primary outcome of an organization’s work processes and activities?
What is the primary outcome of an organization’s work processes and activities?
- Profit generation
- Employee satisfaction
- Market share
- Accumulated results (correct)
What is the primary purpose of control in organizational activities?
What is the primary purpose of control in organizational activities?
- To increase production costs
- To create new activities
- To ensure activities achieve organizational goals (correct)
- To enhance employee satisfaction
All businesses aim to maximize their operating costs.
All businesses aim to maximize their operating costs.
False (B)
Control processes aim to correct deviations from planned activities.
Control processes aim to correct deviations from planned activities.
What is the primary function of control systems in management?
What is the primary function of control systems in management?
What does the control process monitor?
What does the control process monitor?
What term describes the coordination of the work of employees in an organization?
What term describes the coordination of the work of employees in an organization?
Control processes ensure that activities are completed in ways that lead to the accomplishment of __________ goals.
Control processes ensure that activities are completed in ways that lead to the accomplishment of __________ goals.
Control systems do not play a role in empowering employees.
Control systems do not play a role in empowering employees.
Financial controls are primarily concerned with ___ in a business.
Financial controls are primarily concerned with ___ in a business.
Match the following terms related to control with their definitions:
Match the following terms related to control with their definitions:
Match the following terms with their definitions:
Match the following terms with their definitions:
What aspect of planning do controls help managers monitor?
What aspect of planning do controls help managers monitor?
Control systems provide managers with information and feedback on employee ______.
Control systems provide managers with information and feedback on employee ______.
Match the following functions with their descriptions:
Match the following functions with their descriptions:
Which of the following is a reason why human resource management (HRM) is considered important?
Which of the following is a reason why human resource management (HRM) is considered important?
What is the main purpose of Human Resource (HR) planning?
What is the main purpose of Human Resource (HR) planning?
HRM is only a functional department and does not play a strategic role in organizations.
HRM is only a functional department and does not play a strategic role in organizations.
HR planning involves ensuring employees are able to perform their tasks effectively.
HR planning involves ensuring employees are able to perform their tasks effectively.
What is one key function of the HRM process?
What is one key function of the HRM process?
What are the key aspects that HR planning aims to address?
What are the key aspects that HR planning aims to address?
HRM improves __________ performance by aligning human resources with strategic goals.
HRM improves __________ performance by aligning human resources with strategic goals.
Match the following HRM benefits with their descriptions:
Match the following HRM benefits with their descriptions:
HR planning ensures that managers have the right number and types of people in the right ______.
HR planning ensures that managers have the right number and types of people in the right ______.
Match the HR planning objectives with their descriptions:
Match the HR planning objectives with their descriptions:
What is liquidity?
What is liquidity?
Leverage involves buying more of an asset using only cash on hand.
Leverage involves buying more of an asset using only cash on hand.
What is the primary purpose of financial controls for managers?
What is the primary purpose of financial controls for managers?
The process of determining whether a company's management is effectively generating __________ is known as activity assessment.
The process of determining whether a company's management is effectively generating __________ is known as activity assessment.
Match the following financial concepts to their definitions:
Match the following financial concepts to their definitions:
Flashcards
HRM as a Competitive Advantage
HRM as a Competitive Advantage
HRM can give a company an edge over its competitors by attracting, developing, and retaining top talent.
HRM as a Strategic Tool
HRM as a Strategic Tool
HRM helps align HR strategies with overall business goals, ensuring that people are a key part of achieving success.
HRM's Impact on Performance
HRM's Impact on Performance
Effective HRM practices can lead to higher productivity, employee satisfaction, and improved financial performance.
Identifying and Selecting Competent Employees
Identifying and Selecting Competent Employees
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Functions of the HRM Process
Functions of the HRM Process
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Control in Management
Control in Management
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Control Process
Control Process
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Monitoring Activities
Monitoring Activities
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Correcting Deviations
Correcting Deviations
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Purpose of Control
Purpose of Control
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HR Planning
HR Planning
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Right Number of People
Right Number of People
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Right Types of People
Right Types of People
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Right Time
Right Time
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Effective and Efficient Performance
Effective and Efficient Performance
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Control Systems Purpose
Control Systems Purpose
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Control Systems for Employees
Control Systems for Employees
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Control Systems and Future Actions
Control Systems and Future Actions
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Control Systems and Goal Alignment
Control Systems and Goal Alignment
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Control Systems and Strategy Adjustment
Control Systems and Strategy Adjustment
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Liquidity
Liquidity
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Leverage
Leverage
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Activity
Activity
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Financial Controls
Financial Controls
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Organizational Performance
Organizational Performance
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Performance Management
Performance Management
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Employee Coordination
Employee Coordination
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Traditional Control
Traditional Control
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Study Notes
HRM Importance and Functions
- HRM is a significant source of competitive advantage
- HRM is an important strategic tool
- HRM improves organizational performance
HRM Process Functions
- Identifying and selecting competent employees
- Providing employees with up-to-date knowledge and skills
- Ensuring the organization retains competent and high-performing employees
Human Resource Planning (HRP)
- HRP is the process managers use to ensure the right number and type of people are in the right places at the right times
- HRP helps avoid sudden talent shortages and surpluses
Steps in HR Planning
- Assessing current human resources
- Assessing future needs for human resources
Human Resource Inventory
- A review of the organization's current resource status
- Inventory includes information such as employee names, education, training, prior employment, language, skills, and capabilities
Job Analysis
- An assessment that defines a job and the necessary behaviors to perform it
Job Description
- A written statement describing a job
Job Specification
- A written statement of the minimum qualifications needed to perform a specific job successfully
Recruitment
- The process of locating, identifying, and attracting qualified applicants
Decruitment
- Reducing the surplus of employees in an organization's workforce
Selection
- Screening job applicants to ensure the most suitable candidates are hired
- Predicting applicant success in performing job criteria
Selection Errors
- Rejecting potentially successful applicants
- Accepting ultimately poor performers
Selection Tools
- Written tests
- Application forms
- Performance-simulation tests
- Interviews
- Physical examinations
Realistic Job Preview (RJP)
- Relating to applicants both the positive and negative aspects of a job
- Encouraging mismatched applicants to withdraw
- Aligning successful applicants' expectations with actual job conditions
Orientation
- Educating new employees about their jobs and the organization
- Work unit orientation: Familiarizing with unit goals, job contributions, and coworkers
- Organization orientation: Informing about company goals, history, philosophy, procedures, rules, and relevant HR policies
Training Methods
- Traditional training methods: On-the-job training, job rotation, mentoring and coaching, experiential exercises, workbooks/manuals, classroom lectures
- Technology-based training methods: CD-ROMs, DVDs, videotapes, audiotapes, videoconferencing, teleconferencing, satellite TV, e-learning
Work-Life Balance
- Prioritizing work (career and ambition) and lifestyle (health, pleasure, leisure, family, spiritual development)
- Employees maintaining personal lives
- Organizations offering family-friendly benefits (on-site childcare, summer day camps, flex-time, job sharing, leave for personal matters, flexible job hours)
Controlling
- Monitoring activities to ensure they are accomplished as planned and correcting deviations
- Ensuring activities lead to achieving organizational goals
- Planning: Controls help managers determine if goals and plans are on target and what future actions to take
- Empowering employees: Control systems provide information and feedback on employee performance
- Protecting the workplace: Controls enhance physical security and minimize disruptions
The Process of Control
- Measuring actual performance
- Comparing actual performance against a standard
- Determining variation between actual performance and standard
- Taking corrective action (doing nothing, immediate corrective action, basic corrective action) including changing strategy, structure or compensation schemes, redesigning jobs or firing employees
- Revising the standard (examining whether the standard is realistic, fair and achievable)
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Description
Explore the critical role of Human Resource Management (HRM) in gaining a competitive advantage and enhancing organizational performance. This quiz covers key functions and processes, including HR planning, job analysis, and employee development. Assess your understanding of how HRM contributes strategically to businesses.
