HR BU354 Midterm Exam UPDATED
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Human Capital - CORRECT ANSWER The knowledge, skills, and capabilities of individuals
that have economic value to an organization.
Corporate Social Responsibility - CORRECT ANSWER The responsibility of the firm to act in
the best interests of the people and communities affected by its activities
Sustainability - CORRECT ANSWER Doing a business in a way that does as little harm to the
environment and depletes as few natural resources as possible
CSR vs Sustainability - CORRECT ANSWER CSR: Broader terms, benefiting all stakeholders
Sustainability: Narrow, talks about resources
Knowledge workers - CORRECT ANSWER Workers whose responsibilities extend beyond the
physical execution of work to include planning, decision-making, and problem-solving
Human resources information system (HRIS) - CORRECT ANSWER A computerized system
that provides current and accurate data for purposes of control and decision-making
Workforce (HR) analytics - CORRECT ANSWER the process of gathering and analyzing data
to improve a firm's human resources management
Downsizing - CORRECT ANSWER the planned elimination of jobs in a company
Outsourcing - CORRECT ANSWER A decision by a corporation to turn over much of the
responsibility for production to independent suppliers.
Furloughing - CORRECT ANSWER a situation in which an organization asks or requires
employees to take time off for either no pay or reduced pay
, Offshoring - CORRECT ANSWER The business practice of sending jobs to other countries
Nearshoring - CORRECT ANSWER The process of moving jobs closer to one's home country
Homeshoring - CORRECT ANSWER The process of moving jobs to work-from-home
domestic independent contractors
Employee leasing - CORRECT ANSWER The process of dismissing employees who are then
hired by a leasing company (which handles all HR-related activities) and contracting with that
company to lease back the employees
Line managers - CORRECT ANSWER Non-HR managers who are responsible for overseeing
the work of other employees
Human resource planning (HRP) - CORRECT ANSWER The process of anticipating and
providing for the movement of people into, within, and out of an organization
Strategic Human Resource Management (SHRM) - CORRECT ANSWER The pattern of
human resources deployments and activities that enable an organization to achieve its strategic goals
Mission - CORRECT ANSWER The basic purpose of the organization as well as its scope of
operations
Strategic vision - CORRECT ANSWER A statement about where the company is going and
what it can become in the future
Core Values - CORRECT ANSWER The strong and enduring beliefs and principles that the
company uses as a foundation for its decisions
Environmental Scanning - CORRECT ANSWER Systemic monitoring of the major external
forces influencing the organization
ACTUAL QUESTIONS AND CORRECT
ANSWERS
Human Capital - CORRECT ANSWER The knowledge, skills, and capabilities of individuals
that have economic value to an organization.
Corporate Social Responsibility - CORRECT ANSWER The responsibility of the firm to act in
the best interests of the people and communities affected by its activities
Sustainability - CORRECT ANSWER Doing a business in a way that does as little harm to the
environment and depletes as few natural resources as possible
CSR vs Sustainability - CORRECT ANSWER CSR: Broader terms, benefiting all stakeholders
Sustainability: Narrow, talks about resources
Knowledge workers - CORRECT ANSWER Workers whose responsibilities extend beyond the
physical execution of work to include planning, decision-making, and problem-solving
Human resources information system (HRIS) - CORRECT ANSWER A computerized system
that provides current and accurate data for purposes of control and decision-making
Workforce (HR) analytics - CORRECT ANSWER the process of gathering and analyzing data
to improve a firm's human resources management
Downsizing - CORRECT ANSWER the planned elimination of jobs in a company
Outsourcing - CORRECT ANSWER A decision by a corporation to turn over much of the
responsibility for production to independent suppliers.
Furloughing - CORRECT ANSWER a situation in which an organization asks or requires
employees to take time off for either no pay or reduced pay
, Offshoring - CORRECT ANSWER The business practice of sending jobs to other countries
Nearshoring - CORRECT ANSWER The process of moving jobs closer to one's home country
Homeshoring - CORRECT ANSWER The process of moving jobs to work-from-home
domestic independent contractors
Employee leasing - CORRECT ANSWER The process of dismissing employees who are then
hired by a leasing company (which handles all HR-related activities) and contracting with that
company to lease back the employees
Line managers - CORRECT ANSWER Non-HR managers who are responsible for overseeing
the work of other employees
Human resource planning (HRP) - CORRECT ANSWER The process of anticipating and
providing for the movement of people into, within, and out of an organization
Strategic Human Resource Management (SHRM) - CORRECT ANSWER The pattern of
human resources deployments and activities that enable an organization to achieve its strategic goals
Mission - CORRECT ANSWER The basic purpose of the organization as well as its scope of
operations
Strategic vision - CORRECT ANSWER A statement about where the company is going and
what it can become in the future
Core Values - CORRECT ANSWER The strong and enduring beliefs and principles that the
company uses as a foundation for its decisions
Environmental Scanning - CORRECT ANSWER Systemic monitoring of the major external
forces influencing the organization
