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Chapter 1 - Strategic Human Resource Management
1) What are two of the most important management problems businesses
face today?
• recruitment and training
• Training is often very expensive and can be a huge waste of resources if
companies fail to recruit and hire people who can succeed and contribute
to the organizational goals.
2) What type of feedback reinforces ethical behavior?
• Performance feedback is an important step in performance management
wherein an employee is given frequent feedback about what they should
be doing and how well they are doing it. Reinforcing ethical behaviors is
a critical component of this type of feedback.
3) The sum of all the rewards an employee receives in exchange for their
time, efforts, and performance is referred to as .
• Total rewards are comprised of direct financial compensation, indirect
financial compensation, and nonfinancial compensation. In other words,
total rewards are all forms of compensation that a company may give to
their employees. When evaluating a job offer, it is important for
employees to take into account the total rewards being offered for that
position as the salary is only one component of the total package.
4) Workplace health and safety topics include disaster preparedness,
ergonomics, and .
• Mental health is a topic related to overall health. Reduced job stability and
increased workload demands can increase stress and increase
employees’ risk for physical and mental illness.
5) Employee-management relations ultimately determine the employment
rights of .
• Employee-management relations reflect societal beliefs about the
relationship between employees and the capital owners of the
organization.
6) Each of the functional areas of HRM must be consistent .
• in what they reinforce
• functional areas of HRM are designed to maximize the efficiency and
effectiveness of an organization’s talent to meet the organizational goals.
All functional areas must be consistent in what they reinforce so they do
not undermine each other.
7) HRM influences organizational performance through its influence on
, .
• efficient systems and processes
• With efficient systems and processes in place, HRM is able to improve
organizational efficiency, promote the efficient and effective utilization of
, employees’ skills, and increase the organization’s ability to manage
change.
8) Which type of risk management encompasses the HRM initiatives to
strengthen ethical awareness and company culture?
• Strategic risk involves all aspects of company culture, ethics, investments
in people, and the implementation of change.
9) Which type of risk management involves the speed and effectiveness of
talent acquisition, development of employee skills, and retention of top
performers?
• Operational Risk as it encompasses everything to do with talent
acquisition and development.
10) Which type of risk management is associated with the reduction of costs in
hiring employees?
• Financial risk is associated with all workforce and productivity costs.
11) Which type of risk management involves consideration of legal issues in
terms of diversity, health and safety, union relations, whistleblowers, and
harassment?
• Compliance risk involves the decisions related to legal matters made by
the organization.
12) What type of competitive strategy does a firm have to determine its place in
the market?
• business
• A company’s business strategy reflects customer needs, firm goals, and a
realistic forecast of what the firm can deliver, and also determines how
competitive the company will be in its marketplace.
13) An organization’s is a system of beliefs about how its
employees should be treated.
• talent philosophy
• An organization’s talent philosophy is a system of beliefs about how its
employees should be treated, including the value placed on diversity;
ethics; whether the firm would like employees to stay for a limited time or
for their entire careers; and whether employees are viewed as assets to
be managed or as investors choosing where to allocate their time and
effort.
13) and are a way for organizations to achieve growth,
expand internationally, and respond to industry deregulation.
• mergers and acquisitions
• Mergers and acquisitions are a common way for companies to grow and
expand internationally and to acquire the talent needed to execute their
business strategy.
14) Mergers and acquisitions often fail because of .
• culture issues
, • Mergers and acquisitions often fail due to culture issues when there is a
mismatch between the values and organizational structures of the two
merging organizations
15) Managing organizational change is the responsibility of which type of
manager?
• human resource
• HRM professionals are responsible for managing organizational change,
including business expansion, restructuring, and downsizing.
16) between HR and employees is extremely important.
• Communication should be welcomed between employees and HR.
17) What is best used to help employees understand the HR policies and
procedures?
• Employee handbooks document the organization’s HRM policies and
procedures, and they are very important in helping employees learn about
the company’s HRM policies. Further, handbooks allow employees to
research topics they need more information on later.
18) What two broad areas does HRM manage?
• People related issues
• Employment-related legal compliance
19) There are many laws and regulations that affect the employment
relationship. Why is this a primary concern of HRM?
• Because it decreases an organization's legal liability for compliance with
employment laws
20) What is indirect financial compensation?
• All the tangible and financially valued rewards that are not included in
direct compensation, including free meals, vacation time, and health
insurance.
21) What is operational risk?
• Risk related to the speed and the effectiveness of talent acquisition,
development of employees’ skills, and the identification and retention of
top performers.
22) What are rewards & benefits>
• The HR function that refers to the sum of all the rewards employees
receive in exchange for their time, efforts, and performance.
23) How can HRM create value within an organization?
• by making the company better at executing its strategy
• order to effectively execute the organization’s strategy, effective staffing is
needed. The people within the organization create value by supporting the
mission and objectives as well as the business strategy.
24) The purpose of the organizational function of HRM is to .
• attract, hire, develop, reward, and retain talent
• HRM is responsible for all people-related issues.
25) Taking workplace health and safety seriously helps to reduce
risk.