HRM Legal Environment & Motivation Theories

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Questions and Answers

What is the primary focus of Herzberg's motivation-hygiene theory?

Hygiene factors are the same as motivation factors.

Satisfaction and dissatisfaction are separate dimensions. (correct)

Motivation comes solely from external rewards.

Job satisfaction and dissatisfaction are interrelated.

Which of the following is considered a hygiene factor in the workplace?

Recognition for good performance

Opportunities for growth

Challenging work tasks

Salary and compensation (correct)

What function in marketing involves selecting the mode of transport for goods?

Transporting (correct)

Selling

Storing goods

Buying

Which right do all South Africans have under the Constitution concerning labor practices?

Right to fair labor practices Signup and view all the answers

What is the role of financing in the marketing functions?

To facilitate the acquisition of necessary resources. Signup and view all the answers

Which of the following accurately describes a motivating factor in the workplace?

Personal achievement Signup and view all the answers

What major marketing function involves the sale of products directly to consumers?

Selling Signup and view all the answers

Which right allows workers to form and participate in trade unions?

The right to form trade unions Signup and view all the answers

What is the main goal of inventory management?

To minimize inventory costs Signup and view all the answers

Which activity is NOT part of warehousing?

Marketing goods Signup and view all the answers

What term describes the expenses associated with storing products until they are sold?

Holding costs Signup and view all the answers

What defines a common carrier in transportation?

A business whose services are available to all shippers Signup and view all the answers

Which type of advertising focuses on increasing demand for all brands of a product?

Primary-demand advertising Signup and view all the answers

What is unit loading in the context of materials handling?

The method of combining smaller packages into a single load for transport Signup and view all the answers

What is the main characteristic of a contract carrier?

It is limited in the number of businesses it can serve by law Signup and view all the answers

Which of the following is NOT a benefit of effective order processing?

Reduction of marketing costs Signup and view all the answers

What is the primary purpose of institutional advertising?

To enhance a business's image or reputation Signup and view all the answers

Which step involves identifying important selling points for an advertising campaign?

Creating the advertising platform Signup and view all the answers

What is meant by advertising appropriation?

The total amount of money designated for advertising Signup and view all the answers

What is the purpose of sentiment analysis in qualitative social media measurement?

To categorize opinions and beliefs about a brand Signup and view all the answers

What is a function of a media plan in an advertising campaign?

To outline an advertisement timetable and chosen media Signup and view all the answers

Which of the following best describes a podcast?

A downloadable digital audio or video file Signup and view all the answers

What does quantitative social media measurement involve?

Counting numerical metrics like website visitors and followers Signup and view all the answers

Which step follows the creation of the advertising message in an advertising campaign?

Execute the campaign Signup and view all the answers

What is a corporate bond?

A company's written promise to repay a specified amount with interest. Signup and view all the answers

Which type of bond is solely backed by the reputation of the issuing company?

Debenture bond Signup and view all the answers

What determines the interest rate for corporate bonds issued by a company?

The financial health of the issuing company. Signup and view all the answers

What is a registered bond?

A bond that is registered in the owner's name by the issuing company. Signup and view all the answers

Which option describes a convertible bond?

A bond that can be exchanged for a specified number of the company’s common stock. Signup and view all the answers

What is e-business primarily focused on?

Producing and selling goods and services for profit via the internet Signup and view all the answers

Which of the following is NOT a type of resource used specifically in e-business?

Customer relationship managers Signup and view all the answers

Which component is NOT part of the five areas of management in a business?

Public Relations Signup and view all the answers

What is one of the goals of proper financial management?

To establish financing priorities in line with organizational goals Signup and view all the answers

What does mobile marketing primarily focus on?

Communicating and selling through mobile devices Signup and view all the answers

Which of the following is a key aspect of financial management?

Ensuring timely payment of bills to maintain credit rating Signup and view all the answers

Which resource is classified as material in e-business?

Software and computers Signup and view all the answers

What is a common responsibility of human resources in e-business?

Designing and maintaining websites Signup and view all the answers

Study Notes

The Legal Environment of HRM

All South Africans have the right to fair labour practices.
All workers have the right to form, join and participate in trade unions and strike.
Employers have right to form, join and participate in employer organizations.
Unions and employers’ organizations can organize themselves as they see fit.
Unions, employer organizations and employers have the right to engage in collective bargaining.

Herzberg's Motivation-Hygiene Theory

Motivation-hygiene theory separates satisfaction and dissatisfaction.
Motivation factors increase motivation but their absence does not necessarily lead to dissatisfaction.
Motivation factors act as satisfiers when present.
Hygiene factors reduce dissatisfaction when present but do not necessarily lead to high levels of motivation.
Hygiene factors act as dissatisfiers when absent.

Eight Major Marketing Functions

Exchange Functions: Buying and selling merchandise.
- Buying: obtaining raw materials, keeping appropriate inventory, choosing suppliers.
- Selling: transfers ownership of a product from seller to customer.
Physical Distribution Functions: Involve transporting goods from producers to customers.
- Transporting: choosing cost-effective and timely transportation methods.
- Storing goods: maximizes sales by storing goods until they are most likely to sell.
Facilitating Functions: Assist other functions in their operations
- Financing: supports all stages of marketing.
- Standardizing and grading: establishes and maintains quality standards for a product.
- Risk taking: assume the risk of ownership and handling of the product.
- Market information: collecting and disseminating information about the product.

Inventory Management

Inventory management: Optimizing inventory to minimize costs, including holding costs and potential stockout costs.
Holding costs: expenses incurred when storing products.
- Include money invested in inventory, storage space, insurance, and taxes.
Stockout costs: lost sales due to a lack of inventory.

Order Processing

Order processing: managing customer purchase orders, including receiving and fulfilling orders.

Warehousing

Warehousing: receiving, storing, and preparing goods for shipment.
- Includes receiving goods, identifying and sorting goods, storing goods, and managing the recall, picking, and assembly of goods.

Materials Handling

Materials handling: physically handling goods within warehouses and during transportation.
- Unit loading: combining various smaller cartons, barrels, or boxes into standardized units for efficient movement by forklifts, conveyors, or trucks.

Transportation

Transportation: shipping products to customers.
Carrier: a company offering transportation services.
- Common carrier: offers services to all shippers (e.g.: railroads, airlines).
- Contract carrier: services a limited number of businesses as per legal restrictions.
- Private carrier: owned and operated by the shipper.

Types of Advertising by Purpose

Primary-demand advertising: aims to increase product demand across all brands within a specific industry (e.g., The South African Sugar Association).
Selective-demand (or brand) advertising: promotes a specific brand (most common type of advertising).
Institutional advertising: enhances a business's image or reputation (e.g., Telkom sponsoring the South African Olympic team).

Major Steps in Developing an Advertising Campaign

Identify and analyze target audience.
Define advertising objectives.
Create the advertising platform: key features and selling points for the campaign.
Determine the advertising appropriation: total budget for advertising within a specific timeframe.
Develop the media plan: advertising timetable and media selection.
Create the advertising message: crafting the message.
Execute the campaign: implementing the plan.
Evaluate advertising effectiveness: assessing campaign performance.

Photos, Videos, and Podcasts

Media sharing sites: platforms for uploading photos, videos, and podcasts.
Photo sharing: allows companies to use photos to create compelling stories about their products or services.
Videos: effective for storytelling.
Podcasts: digital audio or video files accessible online for download.

Quantitative social media measurement: uses numerical data (website visitors, fans/followers, new customers).
Key performance indicators (KPIs): measures that track progress towards organizational goals.
Qualitative social media measurement: assesses opinions and beliefs about a brand, often using sentiment analysis.
Sentiment analysis: analyzes the mood and emotions expressed surrounding social media activities.

Defining E-Business

E-business: using the internet for all business activities and services.
Not to be confused with e-commerce: buying and selling activities conducted online using the internet.
Mobile marketing: engaging with customers and selling through mobile devices.

Combining e-Business Resources

E-businesses use human, material, informational, and financial resources, often in specialized ways.
Human Resources: Website designers, Programmers, Web masters
Material Resources: Computers, Software, High-speed internet connection lines.
Informational Resources: Customer tracking systems, Order fulfillment and tracking systems, Online content-monitoring systems.
Financial Resources: Investors in e-businesses, Electronic payments from customers.

A Business's Information Requirements

Businesses are organized into five areas:
- Finance
- Operations
- Marketing
- Human Resources
- Administration

The Need for Financial Management

Financial management: managing funds efficiently and effectively.
Financial management ensures:
- Funds are available when needed.
- Funds are obtained at the lowest cost.
- Funds are used efficiently.
- Financing priorities align with goals.
- Spending is controlled and planned.
- Customers pay bills on time.
- Bills are paid promptly.
- Funds are available for tax payments.
- Excess cash is invested.
Private placement: selling stocks and corporate securities directly to investors, like insurance companies, pension funds, or mutual funds.

Corporate Bonds

Corporate bond: a company's promise to repay a specific amount of money plus interest.
Interest rates vary depending on the company's financial health.
Factors affecting interest rates:
- The company's ability to pay interest.
- The company's ability to repay the bond at maturity.
Registered bond: a bond registered in the owner's name by the company.
Maturity date: the date when borrowed money is repaid.

Types of Bonds

Debenture bond: backed only by the issuing company's reputation.
Mortgage bond: secured by various assets of the issuing company.
Convertible bond: can be exchanged for shares of the company´s common stock at the owner´s discretion.

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Description

This quiz covers the legal environment of Human Resource Management in South Africa, focusing on workers' rights and collective bargaining. Additionally, it explores Herzberg's Motivation-Hygiene Theory, distinguishing between motivation and hygiene factors. Test your knowledge on these important HRM concepts.