BUS 381 Exam Questions with CORRECT
Answers
Human Resource Management (HRM)
The management of people (holders of human capital) in organizations to drive successful
organizational performance and achieve strategic goals.
Human Capital
The total knowledge, skills, creative abilities, talents, aptitudes, values, attitudes, approaches,
and beliefs of an individual.
Who controls capital?
Employees control their own capital, not employers
Why is HRM hard?
because it deals with people who have largely unpredictable contributions requiring close
management, whereas money is predictable, returns, and requires less supervision
Why capitalize on human capital?
To gain competitive advantage
Organization
A group of people with formally assigned roles who work together to achieve organizational
goals.
Managers
, Individuals responsible for accomplishing company goals by managing the efforts of
organizational people.
5 Functions of Management
1. Planning
2. Organizing
3. Staffing
4. Leading
5. Controlling
HRM Involves
-Finding and hiring talent
- developing employees talent
- creating productive workplaces, and
- continually building and monitoring organization's workforce.
Planning (Management Function)
Establishing goals, standards, rules, procedures, plans, and forecasts.
Organizing (Management Function)
Assigning tasks, creating departments, establishing authority, and coordinating work.
Staffing (Management Function)
Recruiting, selecting, training, evaluating, counselling, and compensating employees.
Leading (Management Function)
Answers
Human Resource Management (HRM)
The management of people (holders of human capital) in organizations to drive successful
organizational performance and achieve strategic goals.
Human Capital
The total knowledge, skills, creative abilities, talents, aptitudes, values, attitudes, approaches,
and beliefs of an individual.
Who controls capital?
Employees control their own capital, not employers
Why is HRM hard?
because it deals with people who have largely unpredictable contributions requiring close
management, whereas money is predictable, returns, and requires less supervision
Why capitalize on human capital?
To gain competitive advantage
Organization
A group of people with formally assigned roles who work together to achieve organizational
goals.
Managers
, Individuals responsible for accomplishing company goals by managing the efforts of
organizational people.
5 Functions of Management
1. Planning
2. Organizing
3. Staffing
4. Leading
5. Controlling
HRM Involves
-Finding and hiring talent
- developing employees talent
- creating productive workplaces, and
- continually building and monitoring organization's workforce.
Planning (Management Function)
Establishing goals, standards, rules, procedures, plans, and forecasts.
Organizing (Management Function)
Assigning tasks, creating departments, establishing authority, and coordinating work.
Staffing (Management Function)
Recruiting, selecting, training, evaluating, counselling, and compensating employees.
Leading (Management Function)
