HR Midterm (BU354) Exam UPDATED
QUESTIONS AND CORRECT ANSWERS
How has the COVID-19 pandemic changed the way that people are managed in organizations? -
CORRECT ANSWER The pandemic has affected how we recruit, select, train, appraise, and
reward employees
What is HRM (Human resource management) - CORRECT ANSWER the process of managing
human talent to achieve an organization's objectives
Why Study Human Resources Management? - CORRECT ANSWER Having a good
understanding of HRM is important for managers and entrepreneurs of all types
Understanding human resources management can help you understand your responsibilities and rights
as an employee
What is human capital - CORRECT ANSWER the knowledge, skills, and capabilities of
individuals that have economic value to an organization
Top trends or competitive issues/challenges: 6 examples - CORRECT ANSWER 1.Responding
strategically to crisis, changes, and disruptions in the local and global marketplace
2. Advancing HRM with technology
3. Setting and achieving corporate social responsibility and sustainability goals
4. Containing costs while retaining top talent and maximizing productivity
5. Responding to the demographic and diversity challenges of the workforce
6. Adapting to educational and cultural shifts affecting the workforce
,What is every managers business - CORRECT ANSWER Managing people is every manager's
business
What does a line manager do - CORRECT ANSWER non-HR managers who are responsible
for overseeing the work of other employees
What can understanding HRM do for you - CORRECT ANSWER can help you better compete
in the current business environment—as an employee, manager, or HR manager
What is HRISs streamline HR process - CORRECT ANSWER make information more readily
available to managers and employees, and enable HR departments to focus on the firm's strategies
What is Strategic planning? - CORRECT ANSWER procedures for making decisions about the
organization's long-term goals and strategies (position relative to its competitor)
What is Human resources planning? - CORRECT ANSWER the process of anticipating and
providing for the movement of people into, within, and out of an organization (human deployment)
What is strategic human resources management? - CORRECT ANSWER the pattern of human
resources deployments and activities that enable an organization to achieve its strategic goals
(combination)
What is High-performance work systems? - CORRECT ANSWER a group of HR practices that
have been proven to increase an
organization's ability to attract, select, hire, develop, and retain high-performing employees
- Engaging employees by bringing to their awareness the organization's vision and providing
employees with a personal stake in the vision and its success
What is the first step strategic planning? - CORRECT ANSWER establishing a mission, vision,
and values for the organization
Define mission - CORRECT ANSWER the basic purpose of the organization as well as its
scope of
operations
,Define strategic vision - CORRECT ANSWER a statement about where the company is going
and
what it can become in the future
Define core values - CORRECT ANSWER the strong and enduring beliefs and principles that
the
company uses as a foundation for its decisions
What is the second step in strategic planning? - CORRECT ANSWER External Analysis -
business environment (Environmental scanning)
Define environmental scanning and give an example - CORRECT ANSWER Environmental
scanning: systematic monitoring of the major external forces influencing the organization
- For example, changes in the labour supply can limit the strategies available to firms
What are factors to consider during the environmental scanning process - CORRECT
ANSWER 1. Economic change
2. Technological change
3. Demographic change
4. Social issue change
5. Legal change
Define stakeholders - CORRECT ANSWER key people and groups that have an interest in a
firm's activities and that can either affect them or be affected by them
What is the third step in strategic planning? - CORRECT ANSWER Internal Analysis
Define core capabilities - CORRECT ANSWER integrated knowledge sets within an
organization that
distinguish it from its competitors and deliver value to customers
, Define Value creation - CORRECT ANSWER what the firm adds to a product or service by
virtue of
making it (cost/benefit)
What goes on during the internal analysis process - CORRECT ANSWER Managers need to
determine whether people are available—internally or externally—to execute an organization's
strategy
Cultural audits examine the values, assumptions, beliefs, and
expectations of workforces
Define Trend analysis - CORRECT ANSWER a quantitative approach to forecasting labour
demand based on an organizational index such as sales
Define management forecasts - CORRECT ANSWER the opinions (judgments) of supervisors,
department managers, experts, or others knowledgeable about the organization's future employment
needs
What is the Delphi technique - CORRECT ANSWER Another qualitative forecasting method,
the Delphi technique, attempts to decrease the subjectivity of forecasts by soliciting and summarizing
the judgments of a preselected group of individuals
What are staffing tables - CORRECT ANSWER graphic representations of all organizational
jobs, along
with the numbers of employees currently occupying those jobs and future (monthly or yearly)
employment requirements
Define Markov analysis - CORRECT ANSWER a method for tracking the pattern of employee
movements through various jobs
What is the equation for turnover rate - CORRECT ANSWER T= (Number of separations
during the month/ Total number of employees at mid-month) * 100
QUESTIONS AND CORRECT ANSWERS
How has the COVID-19 pandemic changed the way that people are managed in organizations? -
CORRECT ANSWER The pandemic has affected how we recruit, select, train, appraise, and
reward employees
What is HRM (Human resource management) - CORRECT ANSWER the process of managing
human talent to achieve an organization's objectives
Why Study Human Resources Management? - CORRECT ANSWER Having a good
understanding of HRM is important for managers and entrepreneurs of all types
Understanding human resources management can help you understand your responsibilities and rights
as an employee
What is human capital - CORRECT ANSWER the knowledge, skills, and capabilities of
individuals that have economic value to an organization
Top trends or competitive issues/challenges: 6 examples - CORRECT ANSWER 1.Responding
strategically to crisis, changes, and disruptions in the local and global marketplace
2. Advancing HRM with technology
3. Setting and achieving corporate social responsibility and sustainability goals
4. Containing costs while retaining top talent and maximizing productivity
5. Responding to the demographic and diversity challenges of the workforce
6. Adapting to educational and cultural shifts affecting the workforce
,What is every managers business - CORRECT ANSWER Managing people is every manager's
business
What does a line manager do - CORRECT ANSWER non-HR managers who are responsible
for overseeing the work of other employees
What can understanding HRM do for you - CORRECT ANSWER can help you better compete
in the current business environment—as an employee, manager, or HR manager
What is HRISs streamline HR process - CORRECT ANSWER make information more readily
available to managers and employees, and enable HR departments to focus on the firm's strategies
What is Strategic planning? - CORRECT ANSWER procedures for making decisions about the
organization's long-term goals and strategies (position relative to its competitor)
What is Human resources planning? - CORRECT ANSWER the process of anticipating and
providing for the movement of people into, within, and out of an organization (human deployment)
What is strategic human resources management? - CORRECT ANSWER the pattern of human
resources deployments and activities that enable an organization to achieve its strategic goals
(combination)
What is High-performance work systems? - CORRECT ANSWER a group of HR practices that
have been proven to increase an
organization's ability to attract, select, hire, develop, and retain high-performing employees
- Engaging employees by bringing to their awareness the organization's vision and providing
employees with a personal stake in the vision and its success
What is the first step strategic planning? - CORRECT ANSWER establishing a mission, vision,
and values for the organization
Define mission - CORRECT ANSWER the basic purpose of the organization as well as its
scope of
operations
,Define strategic vision - CORRECT ANSWER a statement about where the company is going
and
what it can become in the future
Define core values - CORRECT ANSWER the strong and enduring beliefs and principles that
the
company uses as a foundation for its decisions
What is the second step in strategic planning? - CORRECT ANSWER External Analysis -
business environment (Environmental scanning)
Define environmental scanning and give an example - CORRECT ANSWER Environmental
scanning: systematic monitoring of the major external forces influencing the organization
- For example, changes in the labour supply can limit the strategies available to firms
What are factors to consider during the environmental scanning process - CORRECT
ANSWER 1. Economic change
2. Technological change
3. Demographic change
4. Social issue change
5. Legal change
Define stakeholders - CORRECT ANSWER key people and groups that have an interest in a
firm's activities and that can either affect them or be affected by them
What is the third step in strategic planning? - CORRECT ANSWER Internal Analysis
Define core capabilities - CORRECT ANSWER integrated knowledge sets within an
organization that
distinguish it from its competitors and deliver value to customers
, Define Value creation - CORRECT ANSWER what the firm adds to a product or service by
virtue of
making it (cost/benefit)
What goes on during the internal analysis process - CORRECT ANSWER Managers need to
determine whether people are available—internally or externally—to execute an organization's
strategy
Cultural audits examine the values, assumptions, beliefs, and
expectations of workforces
Define Trend analysis - CORRECT ANSWER a quantitative approach to forecasting labour
demand based on an organizational index such as sales
Define management forecasts - CORRECT ANSWER the opinions (judgments) of supervisors,
department managers, experts, or others knowledgeable about the organization's future employment
needs
What is the Delphi technique - CORRECT ANSWER Another qualitative forecasting method,
the Delphi technique, attempts to decrease the subjectivity of forecasts by soliciting and summarizing
the judgments of a preselected group of individuals
What are staffing tables - CORRECT ANSWER graphic representations of all organizational
jobs, along
with the numbers of employees currently occupying those jobs and future (monthly or yearly)
employment requirements
Define Markov analysis - CORRECT ANSWER a method for tracking the pattern of employee
movements through various jobs
What is the equation for turnover rate - CORRECT ANSWER T= (Number of separations
during the month/ Total number of employees at mid-month) * 100
