Mana 3320 Test 1 Questions with
Complete Answers
Managing Talent, or Human Capital - ANSWER-The knowledge, skills, and
capabilities of individuals that have economic value to an organization. It is valuable
because capital is based on company-specific skills, it is gained through long-term
experience, and can be expanded through development.
Responding to the Market - ANSWER--Total Quality Management (TQM): A set of
principles and practices whose core ideas include understanding customer needs,
doing things right the first time, and striving for continuous improvement.
- Six Sigma: A process used to translate customer needs into a set of optimal tasks
that are performed in concert with one another
Influence of Technology in HRM - ANSWER-Introduction of Human Resources
Information Systems (HRIS)- a computerized system that provides current and
accurate data for purposes of control and decision-making. HRIS lowers admin
costs, increases productivity, speeds up response times, and improves decision
making for employees and managers. "Self Service" systems have become popular,
allowing employees to access and change benefits and other personal information.
Cost Containment - ANSWER-As companies see rising costs for transportation,
health care, and other benefits, they might have to adopt some drastic cost savings.
Downsizing is a popular choice since labor is one of the most expensive costs.
Outsourcing and offshoring by contracting labor outside of their companiy is popular
because of reduced labor costs overseas and by contract workers. Companies can
also reduce costs by employee leasing. Larger companies will take over HR control
of the smaller company, reducing costs and giving employees better benefits.
Strategic Human Resources Management (SHRM) - ANSWER-The pattern of
human resources developments and activities that enable an organization to achieve
its strategic goals.
Strategic Planning and Human Resources - ANSWER-Strategic Planning-
Procedures for making decisions about the organization's long-term goals and
strategies.
Human Resources Planning- Process of anticipating and making provision for the
movement (flow) of people into, within, and out of an organization.
Human Resources Competency Model - ANSWER-A set of competencies that
managers need to acquire.
Human Resources Competency Model- Business Mastery - ANSWER-HR
professionals need to know the business of their organization thoroughly. This
, require understanding of its economic and financial capabilities so that they can
become a key member of the team of business managers in order to develop the
firm's strategic direction.
Human Resources Competency Model- HR Mastery - ANSWER-HR Professionals
are the organizations behavioral science experts. They should develop expert
knowledge in the ares of staffing, development, appraisals, rewards, team building,
and communication.
Human Resources Competency Model- Change Mastery - ANSWER-HR
Professionals have to be able to manage change processes so that their firms' HR
activities are effectively merged with the business need of their organization.
Human Resources Competency Model- Personal Credibility - ANSWER-HR
Professionals must establish credibility in the eyes of their internal and external
customers.
Strategic Planning - ANSWER-Procedures for making decisions about the
organization's long-term goals and strategies. The plans especially on how the
organization will position itself relative to its competitors in order to ensure long-term
survival, create value, and grow. It is a strong external orientation that covers major
portions.
Human Resources Planning (HRP) - ANSWER-The process of anticipating and
providing for the movement of people into, within, and out of an organization.
Overall, its purpose is to help manager deploy their human resources as effectively
as possible, when and where they are needed, in order to accomplish the
organization's goals. It's position depends a lot on the organization's competitors.
Environmental Scanning - ANSWER-Systematic monitoring of the major external
forces influencing the organization. These include Economic factors, industry and
competitive trends, technological advances, government and legislative issues,
social concerns, and demographic and labor market trends. By scanning the
environment for changes, managers can anticipate their impact and make
adjustments early.
Forecasting - ANSWER-Involves forecasting demand for labor, supply for labor, and
balancing supply and demand considerations.
Forecasting Labor Demand- Quantitative - ANSWER-Trend Analysis- forecasting
labor demand based on an organizational index such as sales.
First, companies choose a business factor (sales or value added).
Second, plot a historical trend of business factor in relation to the number of
employees. This will product a labor productivity ratio.
Third, Compute the productivity ratio over the past 5 years.
Forth, Calculate human resources demand by multiplying the business factor by the
productivity ratio.
Complete Answers
Managing Talent, or Human Capital - ANSWER-The knowledge, skills, and
capabilities of individuals that have economic value to an organization. It is valuable
because capital is based on company-specific skills, it is gained through long-term
experience, and can be expanded through development.
Responding to the Market - ANSWER--Total Quality Management (TQM): A set of
principles and practices whose core ideas include understanding customer needs,
doing things right the first time, and striving for continuous improvement.
- Six Sigma: A process used to translate customer needs into a set of optimal tasks
that are performed in concert with one another
Influence of Technology in HRM - ANSWER-Introduction of Human Resources
Information Systems (HRIS)- a computerized system that provides current and
accurate data for purposes of control and decision-making. HRIS lowers admin
costs, increases productivity, speeds up response times, and improves decision
making for employees and managers. "Self Service" systems have become popular,
allowing employees to access and change benefits and other personal information.
Cost Containment - ANSWER-As companies see rising costs for transportation,
health care, and other benefits, they might have to adopt some drastic cost savings.
Downsizing is a popular choice since labor is one of the most expensive costs.
Outsourcing and offshoring by contracting labor outside of their companiy is popular
because of reduced labor costs overseas and by contract workers. Companies can
also reduce costs by employee leasing. Larger companies will take over HR control
of the smaller company, reducing costs and giving employees better benefits.
Strategic Human Resources Management (SHRM) - ANSWER-The pattern of
human resources developments and activities that enable an organization to achieve
its strategic goals.
Strategic Planning and Human Resources - ANSWER-Strategic Planning-
Procedures for making decisions about the organization's long-term goals and
strategies.
Human Resources Planning- Process of anticipating and making provision for the
movement (flow) of people into, within, and out of an organization.
Human Resources Competency Model - ANSWER-A set of competencies that
managers need to acquire.
Human Resources Competency Model- Business Mastery - ANSWER-HR
professionals need to know the business of their organization thoroughly. This
, require understanding of its economic and financial capabilities so that they can
become a key member of the team of business managers in order to develop the
firm's strategic direction.
Human Resources Competency Model- HR Mastery - ANSWER-HR Professionals
are the organizations behavioral science experts. They should develop expert
knowledge in the ares of staffing, development, appraisals, rewards, team building,
and communication.
Human Resources Competency Model- Change Mastery - ANSWER-HR
Professionals have to be able to manage change processes so that their firms' HR
activities are effectively merged with the business need of their organization.
Human Resources Competency Model- Personal Credibility - ANSWER-HR
Professionals must establish credibility in the eyes of their internal and external
customers.
Strategic Planning - ANSWER-Procedures for making decisions about the
organization's long-term goals and strategies. The plans especially on how the
organization will position itself relative to its competitors in order to ensure long-term
survival, create value, and grow. It is a strong external orientation that covers major
portions.
Human Resources Planning (HRP) - ANSWER-The process of anticipating and
providing for the movement of people into, within, and out of an organization.
Overall, its purpose is to help manager deploy their human resources as effectively
as possible, when and where they are needed, in order to accomplish the
organization's goals. It's position depends a lot on the organization's competitors.
Environmental Scanning - ANSWER-Systematic monitoring of the major external
forces influencing the organization. These include Economic factors, industry and
competitive trends, technological advances, government and legislative issues,
social concerns, and demographic and labor market trends. By scanning the
environment for changes, managers can anticipate their impact and make
adjustments early.
Forecasting - ANSWER-Involves forecasting demand for labor, supply for labor, and
balancing supply and demand considerations.
Forecasting Labor Demand- Quantitative - ANSWER-Trend Analysis- forecasting
labor demand based on an organizational index such as sales.
First, companies choose a business factor (sales or value added).
Second, plot a historical trend of business factor in relation to the number of
employees. This will product a labor productivity ratio.
Third, Compute the productivity ratio over the past 5 years.
Forth, Calculate human resources demand by multiplying the business factor by the
productivity ratio.
