Human Resource Management and Competitive Advantage

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What is the primary reason why human resource management (HRM) is considered the most happening function as of now?

Because HRM is expert at aligning human resources plans to business plans

Because HRM is responsible for managing people and people offer competitive advantage to a firm (correct)

Because HRM is the only function that can offer competitive advantage to a firm

Because HRM has the ability to craft strategies and execute them effectively

In what way do people lend competitive advantage to a firm, according to the text?

By being strategic partners with line managers in HR planning

By initiating innovation to revise company fortunes

By providing physical resources such as technology and materials

By offering skills, capabilities, systems, practices, speed, language, bonding, and behaviors (correct)

What role do HR managers play in aligning human resources plans to business plans?

They identify and implement HR practices that accomplish business strategy (correct)

They work independently to develop HR practices that best suit the business strategy

They focus on crafting business strategies and executing them effectively

They oversee the integration of technology and materials into business decisions

What is cited as an instance of a company revising its fortunes thanks to innovation?

Mahindra & Mahindra Signup and view all the answers

Why is strategy implementation considered to be a task for people rather than physical resources?

Because physical resources do not have the speed and language capabilities required for strategy execution Signup and view all the answers

What was the unique way in which Google promotes innovation?

By allowing employees to spend 70% of their time on their own job Signup and view all the answers

How did Sandesh Dahanukar contribute to Mahindra & Mahindra's cost-saving and innovation?

By developing a prototype and a new manufacturing process Signup and view all the answers

What was the focus of the new HR function mentioned in the text?

Converting adverse situations into opportunities and tailoring roles based on strengths Signup and view all the answers

What did Mahindra, CEO of the group, give to Sandesh Dahanukar to develop stronger chassis for utility vehicles?

A starting budget of 600,000, complete autonomy, and a commitment to increase the budget in small doses Signup and view all the answers

What did the Wall Street Journal Asia conduct a survey on?

The innovativeness of Indian companies Signup and view all the answers

What is the primary focus of the HRM function 'Staffing'?

Obtaining people with appropriate skills and experience Signup and view all the answers

Which function of HRM involves negotiating contracts and administering collective agreements in a union environment?

Managing relationships Signup and view all the answers

What does the HRM function 'Managing change' primarily involve?

Helping others envision the future and communicate the vision Signup and view all the answers

Which HRM function is related to the administration and monitoring of workplace safety, health, and welfare policies?

Maintaining Signup and view all the answers

Which HRM function is primarily concerned with preparing forecasts of future HR needs based on an organization's environment, mission, objectives, and internal strengths?

Planning Signup and view all the answers

What is the primary focus of the 'Personnel Management' functions mentioned in the text?

Routine administrative and supportive tasks Signup and view all the answers

In the context of HRM, what does 'human capital' primarily refer to?

The skills, knowledge, and capabilities of employees Signup and view all the answers

What is the significance of aligning HR policies and practices with the organization’s strategies?

It helps in formulating and implementing business strategies Signup and view all the answers

How does HRM elevate the role of HR executives from an administrative level to that of the board?

By involving them in decision making and strategy formulation Signup and view all the answers

What distinguishes the 'doables' from the 'deliverables' in HRM, as per the text?

Doables are administrative and supportive tasks, while deliverables relate to building human capital Signup and view all the answers