Human Resource Management: Performance and Rewards

What is one reason companies may limit their pollution beyond what is required by law?

To disclose financial statements
To feel a sense of social responsibility (correct)
To abide by labor laws
To avoid restrictive trade practices

What type of practices are companies prohibited from engaging in?

Labor laws
Fair trade practices
Restrictive trade practices (correct)
Financial disclosure

What is one reason companies are required to disclose financial statements?

To assist in implementing socio-economic policies
To avoid corruption
To abide by labor laws
To make ownership of shares widely available (correct)

Why is it important for companies to help earn foreign exchange?

To import valuable and vital goods (B) Signup and view all the answers

What is one way companies can assist the government?

By advising the government (B) Signup and view all the answers

What is one role of the business sector in implementing socio-economic policies?

To collaborate and assist the government (D) Signup and view all the answers

What is the outcome of a company fulfilling its obligations to the government?

The government works more efficiently (C) Signup and view all the answers

Why is the acquisition of new knowledge and skills necessary for business success?

To maintain a competitive edge (C) Signup and view all the answers

What is the purpose of paying taxes and fees to the government?

To operate a business legally (D) Signup and view all the answers

What is the principle behind the phrase 'What gets measured gets done'?

Measuring performance leads to increased productivity (B) Signup and view all the answers

What is the primary reason for a company to observe laws, rules, and regulations?

To avoid legal penalties (A) Signup and view all the answers

What is the purpose of giving rewards and benefits to employees?

To attract and retain top talent (D) Signup and view all the answers

What is a consequence of failure to investigate a matter concerning shareholders' rights?

A violation of ethical and legal duty of care (C) Signup and view all the answers

Why is maintaining professional relationships among employees a challenge for employers?

Due to the difficulty of preventing harassment and discrimination (B) Signup and view all the answers

What is a common issue in family-run businesses?

Conflicts of interest (A) Signup and view all the answers

What is an example of a personnel relations distribution dilemma?

Mistreating employees (A) Signup and view all the answers

Why is it important to prevent harassment and discrimination in the workplace?

To promote a positive and respectful work environment (D) Signup and view all the answers

What is a consequence of threatening or firing whistleblowers?

Legal and reputational consequences (B) Signup and view all the answers

What is commonly anticipated by the public from businesses today?

Giving back to the society (C) Signup and view all the answers

Why do some businesses give to society?

For ethical reasons (B) Signup and view all the answers

What is the four-part CSR definition based on?

Economic, legal, ethical, and philanthropic expectations (B) Signup and view all the answers

What is the focus of the Environmental Integrity and Community Health Model?

Environmental integrity and human health (A) Signup and view all the answers

According to the Environmental Integrity and Community Health Model, what is a result of corporate contribution to environmental integrity and human health?

More opportunities for growth (A) Signup and view all the answers

What is the advantage of CSR according to the Environmental Integrity and Community Health Model?

CSR is advantageous to the corporate sector (D) Signup and view all the answers

What is the foundation of a true business vision?

Both purpose and values (B) Signup and view all the answers

What is one reason a business with a strong sense of purpose is more likely to succeed?

It stands for something more than just increased profits (C) Signup and view all the answers

What do purpose and values provide for a company?

A solid foundation for decision-making, a compass for all aspects of the business, and more (A) Signup and view all the answers

What is one benefit of having a strong sense of purpose and values for customers?

They will have more to engage with and buy into (A) Signup and view all the answers

What is one role of business ethics in a company?

To assist owners, managers, and professional advisers in meeting standards (C) Signup and view all the answers

What is the result of a business having a strong culture and ethos?

Employee and customer loyalty (C) Signup and view all the answers