HRM Knowledge Quiz

The learning objectives include discussing the importance of strategic human resource management, ways to recruit and hire the right people, common forms of compensation, processes used for onboarding and learning and development, effective performance management and feedback techniques, guidelines for handling promotions, transfers, discipline, and dismissals, legal considerations, labor-management issues, and steps for becoming a better receiver of feedback.

Strategic human resource management is important for ensuring the right people are recruited and hired, common forms of compensation are outlined, effective performance management and feedback techniques are discussed, and legal considerations and labor-management issues are addressed.

Ways to recruit and hire the right people include discussing the importance of strategic human resource management, outlining common forms of compensation, and describing the processes used for onboarding and learning and development.

The role of performance management and feedback techniques is to ensure effective management of promotions, transfers, discipline, and dismissals, and to review the steps for becoming a better receiver of feedback.

Managers should be aware of legal considerations related to labor-management issues and ways to work effectively with labor unions, as well as steps for becoming a better receiver of feedback.

Three influential effects on globalization are the collapse of time and distance, competition in the global market, and the rise of the 'global village' and electronic commerce.

The characteristics of a successful international manager include cross-cultural competency, adaptability, strong communication skills, strategic thinking, and global mindset.

Companies can expand internationally through various ways such as exporting, licensing/franchising, strategic alliances, joint ventures, and foreign direct investment.

Barriers to free trade include tariffs, quotas, and non-tariff barriers. Companies try to overcome them through lobbying, negotiations, and seeking preferential trade agreements.

It is valuable for managers to understand cultural differences as it helps in effective communication, building trust, managing diverse teams, and making informed business decisions in a global context.