Human Resources Management Overview
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Questions and Answers

What is the main purpose of Human Resources Management within a company?

  • To oversee all activities related to financial control
  • To manage the technological development of the firm
  • To handle procurement of goods and services
  • To recruit, develop, and manage personnel (correct)

    • Which of the following activities falls under Infrastructure in a company's operations?

  • Quality assurance and strategic management (correct)
  • Purchase of technological equipment
  • Recruitment and training of staff
  • Acquisition of external goods and services

    • What does Technological Development encompass within a company's structure?

  • The processes of recruiting and hiring employees
  • The financial oversight of company expenditures
  • The leadership and management structure of the company
  • The technical knowledge and equipment used to transform inputs (correct)

    • What is the primary role of Procurement in a company's operations?

    <p>To acquire goods, services, or works from external sources</p> Signup and view all the answers

    Which component is essential for creating value in a company's value chain according to Magretta?

    <p>Basic operations and actions within the industry</p> Signup and view all the answers

    Which factor is primarily associated with management labor in an organization?

    <p>Executive labor</p> Signup and view all the answers

    Which of the following is an indicator of productivity?

    <p>Output per unit of input</p> Signup and view all the answers

    What does allocative efficiency imply according to economic theory?

    <p>It is impossible to improve one party's condition without harming another.</p> Signup and view all the answers

    Which of the following describes productive efficiency?

    <p>Additional output cannot be obtained without increasing inputs.</p> Signup and view all the answers

    In the context of production factors, which is considered a long-term tangible asset?

    <p>Real estate property</p> Signup and view all the answers

    What encompasses the activities related to the storage and movement of the final product?

    <p>Outbound Logistics</p> Signup and view all the answers

    Which primary activity involves converting inputs into final products?

    <p>Operations</p> Signup and view all the answers

    What is the primary goal associated with the optimal combination of production factors?

    <p>Achieving the most significant output for the least input</p> Signup and view all the answers

    Which of the following is NOT considered a component of primary activities in Porter's value chain?

    <p>Human Resources Management</p> Signup and view all the answers

    Which factor is NOT typically referred to as a production factor in business theory?

    <p>Market conditions</p> Signup and view all the answers

    Which process is derived as a result of decision making and goals setting in management?

    <p>Planning</p> Signup and view all the answers

    What is the main focus of the 'Service' primary activity within the value chain?

    <p>Maintaining product performance post-sale</p> Signup and view all the answers

    Which primary activity is primarily responsible for communicating the value of the offerings to potential customers?

    <p>Sales and Marketing</p> Signup and view all the answers

    Identifying the best methods for arranging inbound material logistics falls under which primary activity?

    <p>Inbound Logistics</p> Signup and view all the answers

    What aspect of value measurement is specifically addressed by the pricing function?

    <p>Margin analysis</p> Signup and view all the answers

    Which of the following activities is considered a support activity in Porter's value chain?

    <p>Human Resources Management</p> Signup and view all the answers

    Which statement correctly differentiates between allocative and productive efficiency?

    <p>A market can be allocatively efficient but not productively efficient.</p> Signup and view all the answers

    What is a defining characteristic of technological efficiency (TE)?

    <p>It occurs when output cannot be increased without increasing inputs.</p> Signup and view all the answers

    Which of the following statements is true regarding economic efficiency (EE)?

    <p>If production is economically efficient, it must also be technologically efficient.</p> Signup and view all the answers

    How are current assets classified in an organization's accounting system?

    <p>They consist of stocks, receivables, and financial assets.</p> Signup and view all the answers

    What role does money play in economic activity from an accounting perspective?

    <p>It mediates economic activity but is neither an input nor an output.</p> Signup and view all the answers

    Which of the following is NOT a factor influencing economic efficiency?

    <p>Stakeholder satisfaction.</p> Signup and view all the answers

    What is primarily assessed by the concept of productive efficiency?

    <p>The ability to produce output at the lowest cost possible.</p> Signup and view all the answers

    Which of the following best defines efficiency in an economic system?

    <p>Maximizing desired outputs with minimal input.</p> Signup and view all the answers

    Which of the following factors is NOT considered a source of MURI in the workplace?

    <p>Mental fatigue from overthinking</p> Signup and view all the answers

    What does the 'Seiso' step in the 5S methodology emphasize?

    <p>Logical arrangement of items</p> Signup and view all the answers

    What type of knowledge is described as necessary for designing and engineering a home bread maker?

    <p>Tacit knowledge</p> Signup and view all the answers

    What is a consequence of abusing market power according to the listed organizational challenges?

    <p>Supplier reluctance to negotiate</p> Signup and view all the answers

    Which principle of the Toyota Production System emphasizes the importance of a long-term philosophy over short-term financial goals?

    <p>Principle 1: Base your management decisions on a long-term philosophy</p> Signup and view all the answers

    Which practice is likely to exacerbate wear and tear on machines and tools?

    <p>Driving performance to maximum limits</p> Signup and view all the answers

    Which principle of the Toyota Production System focuses on creating continuous process flow to surface problems?

    <p>Principle 2: Create continuous process flow</p> Signup and view all the answers

    Which of the following is an example of a factor leading to MURI in an organizational context?

    <p>Delivering supplies without notification</p> Signup and view all the answers

    In the Toyota Production System, which principle advocates for visual control to ensure problems are not hidden?

    <p>Principle 7: Use visual control</p> Signup and view all the answers

    Which principle of the Toyota Production System encourages leaders to understand the work and pass on knowledge?

    <p>Principle 9: Grow leaders who understand the work</p> Signup and view all the answers

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