HR Importance

Question 1

What is ‘HRM?’

Answer 1

integrated set of processes/practices/programs/systems for effective deployment + development of employees

Question 2

What does HRM have an impact on? (3)

Answer 2

organizational success
individual well being
society

Question 3

main role of the line manager:

Answer 3

manage/lead employees so they contribute efficiently

Question 4

Relation of HR professional to the line manager:

Answer 4

equip line managers with best people practices

Question 5

Line manager is responsible for: (6)

Answer 5

determine work/job design
make hiring decision
coach/develop employees
supervise
evaluate
employee performance

Question 6

Who is responsible for the employee performance?

Answer 6

line manager

Question 7

HR professional is responsible for: (5)

Answer 7

align HR strategy w/ business strategy
deliver service (ex: recruiting)
develop/implement HR policies
recommend, influence, advise, advocate for employees

Question 8

True/False: the HR professional is usually not in direct contact with employees

Answer 8

True

Question 9

____ acts as the link between HR and employees

Answer 9

line manager

Question 10

6 current business issues:

Answer 10

1. global economy
2. evolution of firms/sectors
3. technology + quality
4. sustainability
5. developing human capital/talent management
6. demographic and employee concerns

Question 11

pros and cons of globalization?

Answer 11

pros: business opportunities in global markets (export), more partnerships
cons: global competition, complicates legal, cultures, business practices

Question 12

What is globalization

Answer 12

opening of international trade -> more movement of people, goods, capital

Question 13

What is involved in the evolution of firms and sectors? (5)

Answer 13

slow economy
consolidate/amalgamate businesses
increased competition
US companies entering and leaving
manage costs thru outsourcing or contractors

Question 14

In the evolution of firms and sectors, ____ costs are a large expenditure and cutting costs will lead to ____ and ____

Answer 14

labor

downsizing (planned job elimination)
outsourcing (contract outside rather than internally)

Question 15

Effect of technology on businesses: (6)

Answer 15

improve processes + quality
reduce costs
changes customer requirements and needs
demand for knowledge workers
more virtual work
more training required

Question 16

___ ___ are the key to customer retention

Answer 16

quality initiatives

Question 17

4 types of innovation skills:

Answer 17

1. creativity, problem solving, continuous improvement skills
2. risk assessment and risk taking skills
3. interpersonal skills
4. implementation skills

Question 18

implications of sustainability for companies:

Answer 18

less demands for some products
new opportunities
require new ‘environmental’ skills

Question 19

What is human capital

Answer 19

set of knowledge, skills, capabilities of INDIVIDUALS that have economic value to an organization

Question 20

What are core competencies?

Answer 20

Combination of knowledge, skills, characteristics needed to effectively perform role in organization

Question 21

what is HRM’s role in human capital and talent management?

Answer 21

1. need to build human capital (retain and develop)
2. reinforce competencies
3. talent management (use competencies effectively)

Question 22

What are some changes in the composition of the workforce? (6)

Answer 22

diverse backgrounds
diverse generations (aging pop)
skills/labor shortage
gender distribution (more women)
more educated workers
more part-time/temp workers

Question 23

What are some changes in expectations of employees, from cultural changes? (5)

Answer 23

1. more rights, and more awareness of their rights
2. ethics concerns
3. privacy concerns
4. different attitudes towards work
5. work/life balance

Question 24

What is ‘corporate strategy?’

Answer 24

overall scope/direction of organization - “what business are we in, what do we do, where are we going?”

Question 25

What is ‘business strategy?’

Answer 25

value creation through development of sustainable competitive advantage - “how will we compete? how do we improve the business?”

Question 26

What is ‘HR strategy?’

Answer 26

Developing /implementing people processes + systems to stay competitive
identify key HR practices -> link to overall business strategy