HR's Internal Stakeholders Flashcards
HR uses Relationship Management competency to do what?
Identify and defuse possible conflicts.
What are the Core Business Functions?
Executive Management, human resources, finance and accounting, marketing and sales, research and development, operations, and information technology.
The best way for any organization to become effective in its strategies is through?
Cross-functional collaboration because an organization realizes that not one single function can produce effective strategies.
Executive management is also called?
C-suite
Executive management is ultimately responsible for?
All of the core business functions and their effect on the organization’s performance.
What are the three main responsibilities of the board?
Reviewing and approving strategic plans, appointing and approving compensation of executive management, and overseeing organization governance.
HR leadership interacts directly with?
Executive Management.
Finance and accounting play different roles in an organization. True or False.
True
Finance focuses on how the organization uses its financial assets to operate in the?
Short and long-term
Which core functions (Finance or Accounting) focus on tracking financial transactions and reporting financial information to finance (to support its strategic planning and management decisions) and to external stakeholders (to support compliance and demonstrate governance)?
Accounting
What part of the organization brings in revenue?
Marketing and Sales Functions
What are the 4 Ps that marketing is responsible for?
Price, product, promotion, and place.
Marketing strategies are often characterized as?
Push or Pull
A push strategy focuses on getting products/services in front of customers. Example?
Companies may have showrooms or create a strong point-of-sales presence at the retail level.
A pull strategy attracts customers to the product. Example?
The carbonated drinks industry invests heavily in advertising and promotion to create brands and boost sales.
With the Marketing Function of an organization, HR can ensure that its activities are?
Aligned with the identity that marketing is creating and uses this brand identity to attract future employees.
Sales function may look to HR to design compensation systems that motivate sales behavior and to?
Provide skills and knowledge training.
How can HR protect an organization’s investment in research and Development?
By ensuring that contracts protect intellectual property rights.
What part of the organization develops, produces, and delivers products and services to customers?
Operations Function
The operations function of the organization is responsible for?
Building the products and services that marketing and R&D define and that sales monetize.
HR’s ability to analyze historical data and predict and creatively manage gaps in resources assists what function in the organization?
Operations Function, because operations managers may have complex workforce planning, needs that can only be addressed through the data that HR possesses.
HR collaborates with operations managers to implement?
Union contracts and advises on managing grievances and discipline and performance issues in an organized work environment.
In the _________ Function, HR helps prepare documentation of safety training and reporting and documenting workplace accidents and conditions.
Operations (compliance issues are greater in this function)
What does SaaS stand for?
Software as a service.
The vendor is responsible for maintaining the software and servers on which it is stored, and the user pays only a?
Subscription fee.
What does HRIS stand for?
Human Resources Information System.
When an HRIS is being implemented, HR needs to be an active partner with IT from the beginning of the process, starting with a __________ that informs the rest of the design and implementation process for the HRIS system.
Needs Analysis
