WEEK 1

Question 1

Human Resource Management definition

Answer 1

a strategic and coherent approach to the management of an organization’s most valued assets (the people working there who individually and collectively contribute to the achievement of its objectives)

Question 2

Human capital

Answer 2

• sum of people’s skills, knowledge, experience and attributes
• human capital can be divided into 3 sub-capitals: intellectual capital, social capital and organizational capital

Question 3

Intellectual capital

Answer 3

• skills and competencies
• intangible resources associated held by people

Question 4

Social Capital

Answer 4

• knowledge generated by networking within and outside the organization
• interactions between people

Question 5

Organizational capital

Answer 5

• knowledge held by the organization (documents, databases, systems)

Question 6

What are the two types of resources

Answer 6

Tangible and intangible

Question 7

Examples of tangible resources

Answer 7

Equipment, property, inventory

Question 8

Examples of intangible resources

Answer 8

Organization’s reputation and culture, relationship with customers, human capital

Question 9

What is human capital?

Answer 9

sum of people’s skills, knowledge, experience and general attributes

Question 10

Competitive advantage

Answer 10

factors that allow a company to produce goods and services better than other companies

Question 11

How can people be used as a source for competitive advantage?

Answer 11

• people part of an organization are the main source of competitive advantage
• the way that HR manages its people will directly influence their performance

Question 12

Goals of HRM

Answer 12

• high performance
• employee wellbeing

Question 13

Human Capital Strategy

Answer 13

Attract and select talent -> align talent to organization -> build capability to perform and lead -> provide competitive salaries -> motivate to perform and excel -> create effective employee relations -> retain critical talent

Question 14

HRM Evolution: what are recent changes experience by organization’s

Answer 14

• growing global competition
• increased demand for individual, team, and organization skills
• management of ethical aspects (harassment)
• higher customer expectations and demands (social media effect)
• rapidly expanding technologies that facilitate jobs

Question 15

Challenges for HRM

Answer 15

• internationalization of business
• important demographic trends (migration, aging population)
• technological developments (extinction of jobs)
• delivering sustainable performance (longer careers)
• managing change (environmental change…)
• AI

Question 16

Strategic role of HRM

Answer 16

1. HR manager must be a partner together with management team
2. must be an expert in the way work is organised and executed
3. must represent employees concerns, ensuring contribution from employees
4. must be an agent of continuous transformation, improving adaptability to change

Question 17

Personnel Management vs HRM: Personnel Management

Answer 17

• employee focused
• operational and administrative
• reactive
• fragmented and necessary policies and practices
• focus on performance measurement

Question 18

Personnel Management vs HRM: HRM

Answer 18

• business partner
• strategic
• proactive
• integrated and coordinated policies and practices
• focus on adding value

Question 19

Traditional HRM

Answer 19

HRM is a responsibility of the specialists (the HR department)

Question 20

Strategic HRM

Answer 20

people management is the responsibility of:
- any individual who is in direct contact with workers
- line managers