10 Questions
Which of the following statements is true about human resource management in small firms?
Owners must personally deal with HR issues in small firms
What is one of the risks associated with micro management?
Delegation and team building
According to the longitudinal study mentioned, when does formal HR policy typically emerge in start-up firms?
When turnover exceeds US$10 million
What is the significance of higher levels of group culture in a firm?
It strengthens a firm's ability to adopt HRM practices
When does formal HRM become necessary in firms?
When the firm has 100+ staff
Which of the following is responsible for ensuring that the goods they supply comply with mandatory safety standards?
Suppliers
Which type of insurance covers the liability of a business for injuries or damage caused to third parties?
Public liability insurance
Which firms are generally exempt from the Privacy Act if their turnover is less than $3 million?
Small firms
Which of the following is NOT a condition for a contract to be legally binding?
Both parties are competent
Which type of insurance covers the liability of professionals for any errors or omissions in their work?
Professional indemnity insurance
Test your knowledge on human resource management in small firms and the challenges associated with rapid growth. Learn about the importance of dealing with HR issues personally, the informal nature of HRM in small firms, and the difficulties faced by family-owned firms. Understand how HR complexity increases as employee size grows and the necessity of formal HRM in larger firms. Discover the HR traps that SMEs may encounter in legal environments. Perfect your understanding of when formal HRM becomes necessary in firms of 100+ staff. Take
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