WGU C202 MANAGING HUMAN CAPITAL EXAM QUESTIONS AND VERIFIED ANSWERS 2024

Human Resource Strategy - ANSWERS Links the entire human resource function with the firm's business strategy. Business Strategy - ANSWERS Defines how the firm will compete in its marketplace. Total Rewards - ANSWERS The sum of all rewards employees receives in exchange for their time, efforts, and performance. The combined intrinsic and extrinsic rewards of a job. Employee Handbooks - ANSWERS Print or online materials that document the organization's HRM policies and procedures. HRM: Human Resource Management - ANSWERS The organizational function responsible for attracting, hiring, developing, rewarding, and retaining talent. Outsourcing - ANSWERS Hiring an external vendor to do work for the company rather than doing it internally. Nonfinancial Compensation - ANSWERS Rewards and incentives given to employees that are not financial in nature including intrinsic rewards received from the job itself or from the work environment. Intrinsic Reward - ANSWERS Non-monetary rewards derived from the work itself. Competitive Advantage - ANSWERS Doing something differently from the competitor thus leading to outperformance and success. Talent Philosophy - ANSWERS A system of beliefs about how an organization's employee should be treated. Shared Service Center - ANSWERS Centralized routine, transaction-based HRM activities. Professional Employer Organization - ANSWERS A company that leases employees to companies that need them. Direct Financial Compensation - ANSWERS Compensation received in the form of salary, wages, commissions, stock options, or bonuses. Virtue Standard - ANSWERS The ethical action is consistent with certain ideal virtues including civility, compassion, benevolence, etc... Common Good Standard - ANSWERS The ethical action shows respect and compassion for all others, especially the most vulnerable. Respect and compassion for all Codes of Conduct - ANSWERS Specifies expected and prohibited actions in the workplace and gives an example of appropriate behavior. Stakeholder Perspective - ANSWERS Considering the interests and opinions of all people, groups, organizations, or systems that affect or could be affected by the organization's actions. Performance Culture - ANSWERS Focuses on hiring, retaining, developing, motivating, and making work assignments based on performance data and results. Organizational Culture - ANSWERS The norms, values, and assumptions of organizational members that guide members' attitudes and behaviors. High-performance Work System - ANSWERS High involvement or high commitment organizations. Code of Ethics - ANSWERS A decision-making guide that describes the highest values to which an organization aspires. Rights Standard - ANSWERS The ethical action is the one that best respects and protects the moral rights of everyone affected by the action. Corporate Social Responsibility - ANSWERS Businesses showing concern for the common good and valuing human dignity. Fairness Standard - ANSWERS The ethical action treats all people equally, or at least fairly, based on some defensible standard. Ethics - ANSWERS The standards of moral behavior that define socially accepted behaviors that are right as opposed to wrong. Utilitarian Standard - ANSWERS The ethical action that best balances good over harm. Protected Classes - ANSWERS Groups underrepresented in employment