MGMT 383 Exam 1 ~Ole Miss~ Latest Update
Human Resource (HR) Management - ANSWER designing management systems
to ensure that human talent is used effectively and efficiently to accomplish
organizational goals.
human assets - ANSWER "glue" that holds all the other assets, such as financial
and physical ones, together and guides their use to better achieve results
You're an HR manager if... - ANSWER people are reporting to you (head of
departments, supervisors).
All departments are in a sense "small businesses"
(firing, hiring,pay systems)
Core competency - ANSWER a unique capability that creates high value and
differentiates an organization from its competition
Human Resources as Successful competencies - ANSWER Productivity,
quality/service, employee skills, innovative operations
Human capital - ANSWER Sometimes referred to as "intellectual capital"
collective value of the capabilities, knowledge, skills, life experiences, and
motivation of an organizational workforce
Organizational Assets - ANSWER Physical, Financial, Intangible, Human
Physical Assets - ANSWER Tangible things...Ex. Chairs, Desks, etc.
Financial Assets - ANSWER Cash stocks & bonds
Intangible - ANSWER Licenses
Ex. Ole Miss t-shirts sold at Walmart or Rebel rags...money comes back to
University
Human - ANSWER The ability to produce an intellectual property
HR Functions - ANSWER 1) Strategic HR Management
2) Equal Employment Opportunity
, 3) Staffing
4) Talent Management
5) Total Rewards
6) Risk Management & Worker Protection
7) Employee & Labor Relations
Strategic HR Management - ANSWER As a part of maintaining organizational
competitiveness, strategic planning for HR effectiveness can be increased
through the use of HR metrics and HR technology.
Equal Opportunity - ANSWER Compliance with equal employment opportunity
(EEO) laws and regulations affects all other HR activities
Staffing - ANSWER The aim of staffing is to provide a sufficient supply of
qualified individuals to fill jobs. Workers, job design and job analysis lay the
foundation for staffing by identifying what diverse people do in their jobs and
how they are affected by them. Through HR planning, managers anticipate the
future supply of and demand for employees and the nature of workforce issues,
including the retention of employees. These factors are used when recruiting
applicants for job openings. The selection process is concerned with choosing
qualified individuals to fill those jobs.
Total Rewards - ANSWER Compensation in the form of pay, incentives and
benefits rewards people for performing organizational work. To be competitive,
employers must develop and refine their basic compensation systems and may
use variable pay programs such as incentive rewards. The rapid increase in the
cost of benefits, esp health care benefits, will continue to be a major issue for
most employers.
Risk Management and Worker Protection - ANSWER Employers must address
various workplace risks to ensure protection of workers by meeting legal
requirements and being more responsive to concerns for workplace health and
safety. Also, workplace security has grown in importance along with disaster
and recovery planning.
Employee and Labor Relations - ANSWER The relationship between managers
and their employees must be handled legally and effectively. Employer and
Employee rights must be addressed. It is important to develop, communicate
and update HR policies and procedures so that managers and employees alike
know what is expected. In some organizations, union/management relations
must be addressed with employee rights and labor/management relations.
Human Resource (HR) Management - ANSWER designing management systems
to ensure that human talent is used effectively and efficiently to accomplish
organizational goals.
human assets - ANSWER "glue" that holds all the other assets, such as financial
and physical ones, together and guides their use to better achieve results
You're an HR manager if... - ANSWER people are reporting to you (head of
departments, supervisors).
All departments are in a sense "small businesses"
(firing, hiring,pay systems)
Core competency - ANSWER a unique capability that creates high value and
differentiates an organization from its competition
Human Resources as Successful competencies - ANSWER Productivity,
quality/service, employee skills, innovative operations
Human capital - ANSWER Sometimes referred to as "intellectual capital"
collective value of the capabilities, knowledge, skills, life experiences, and
motivation of an organizational workforce
Organizational Assets - ANSWER Physical, Financial, Intangible, Human
Physical Assets - ANSWER Tangible things...Ex. Chairs, Desks, etc.
Financial Assets - ANSWER Cash stocks & bonds
Intangible - ANSWER Licenses
Ex. Ole Miss t-shirts sold at Walmart or Rebel rags...money comes back to
University
Human - ANSWER The ability to produce an intellectual property
HR Functions - ANSWER 1) Strategic HR Management
2) Equal Employment Opportunity
, 3) Staffing
4) Talent Management
5) Total Rewards
6) Risk Management & Worker Protection
7) Employee & Labor Relations
Strategic HR Management - ANSWER As a part of maintaining organizational
competitiveness, strategic planning for HR effectiveness can be increased
through the use of HR metrics and HR technology.
Equal Opportunity - ANSWER Compliance with equal employment opportunity
(EEO) laws and regulations affects all other HR activities
Staffing - ANSWER The aim of staffing is to provide a sufficient supply of
qualified individuals to fill jobs. Workers, job design and job analysis lay the
foundation for staffing by identifying what diverse people do in their jobs and
how they are affected by them. Through HR planning, managers anticipate the
future supply of and demand for employees and the nature of workforce issues,
including the retention of employees. These factors are used when recruiting
applicants for job openings. The selection process is concerned with choosing
qualified individuals to fill those jobs.
Total Rewards - ANSWER Compensation in the form of pay, incentives and
benefits rewards people for performing organizational work. To be competitive,
employers must develop and refine their basic compensation systems and may
use variable pay programs such as incentive rewards. The rapid increase in the
cost of benefits, esp health care benefits, will continue to be a major issue for
most employers.
Risk Management and Worker Protection - ANSWER Employers must address
various workplace risks to ensure protection of workers by meeting legal
requirements and being more responsive to concerns for workplace health and
safety. Also, workplace security has grown in importance along with disaster
and recovery planning.
Employee and Labor Relations - ANSWER The relationship between managers
and their employees must be handled legally and effectively. Employer and
Employee rights must be addressed. It is important to develop, communicate
and update HR policies and procedures so that managers and employees alike
know what is expected. In some organizations, union/management relations
must be addressed with employee rights and labor/management relations.
