ADM 2337 - Midterm review Questions
with Verified Answers
What is Human resources management (HRM)? - ANSWERSThe process of managing
human talent to achieve an organization's objectives
Human Capital - ANSWERSThe knowledge, skills, and capabilities of individuals that
have economic value to an organization
HRM is the responsibility of - ANSWERSAll managers
HRM helps bridge the gap between - ANSWERSbusiness systems and people within
those systems
HRM failures = - ANSWERSbusiness failures
HRM is - ANSWERSdynamic, flexible, adaptable, and strategic
Strategy planning - ANSWERSProcedures for making decisions about the
organization's long-term goals and strategies
Step 1 in linking strategic planning and human resources - ANSWERSMission, Vision,
and values
Step 2 in linking strategic planning and human resources - ANSWERSExternal Analysis
Step 3 in linking strategic planning and human resources - ANSWERSInternal Analysis
Step 4 in linking strategic planning and human resources - ANSWERSStrategy
formulation
Step 5 in linking strategic planning and human resources - ANSWERSStrategy
implementation
Step 6 in linking strategic planning and human resources - ANSWERSEvaluation
Mission - ANSWERSThe basic purpose of the organization as well as its scope of
operations
Strategic vision - ANSWERSA statement about where the company is going and what it
can become in the future; clarifies the long-term direction of the company and its
strategic intent
, Core values - ANSWERSThe strong and enduring beliefs and principles that the
company uses as a foundation for its decisions
Environmental scanning - ANSWERSSystematic monitoring of the major external forces
influencing the organization
Five forces framework of external analysis - ANSWERSRival firms, customers,
substitutes, suppliers, new entrants
core capabilities - ANSWERSIntegrated knowledge sets within an organization that
distinguish it from its competitors and deliver value to customers
Value creation - ANSWERSWhat the firm adds to a product or service by virtue of
making it; the amount of benefits provided by the product or service once the costs of
making it are subtracted
Composition - ANSWERSwho to hire, what jobs do we need to make internal
Forecasting supply of labour(considerations) - ANSWERSDemographic changes,
education of workforce, labour mobility, government policies, unemployment rate
Forecasting supply of labour (techniques) - ANSWERSStaffing tables, markov analysis,
skills inventories, management inventories, replacement charts, succession planning
Forecasting demand of labour (considerations) - ANSWERSProduct/service demand,
economics, technology, financial resources, absenteeism/turnover, organizational
growth, management probability
Forecasting demand of labour (techniques) - ANSWERSTrend analysis, managerial
estimates, delphi technique
Trend analysis - ANSWERSA quantitative approach to forecasting labor demand based
on an organizational index such as sales
Management forecasts - ANSWERSThe opinions (judgments) of supervisors,
department managers, experts, or others knowledgeable about the organization's future
employment needs
Markov analysis - ANSWERSA method of tracking the pattern of employee movements
through various jobs
Replacement charts - ANSWERSListings of current job holders and people who are
potential replacements if an opening occurs
SWOT analysis - ANSWERSA comparison of strengths, weaknesses, opportunities,
and threats that helps executives formulate strategy.
with Verified Answers
What is Human resources management (HRM)? - ANSWERSThe process of managing
human talent to achieve an organization's objectives
Human Capital - ANSWERSThe knowledge, skills, and capabilities of individuals that
have economic value to an organization
HRM is the responsibility of - ANSWERSAll managers
HRM helps bridge the gap between - ANSWERSbusiness systems and people within
those systems
HRM failures = - ANSWERSbusiness failures
HRM is - ANSWERSdynamic, flexible, adaptable, and strategic
Strategy planning - ANSWERSProcedures for making decisions about the
organization's long-term goals and strategies
Step 1 in linking strategic planning and human resources - ANSWERSMission, Vision,
and values
Step 2 in linking strategic planning and human resources - ANSWERSExternal Analysis
Step 3 in linking strategic planning and human resources - ANSWERSInternal Analysis
Step 4 in linking strategic planning and human resources - ANSWERSStrategy
formulation
Step 5 in linking strategic planning and human resources - ANSWERSStrategy
implementation
Step 6 in linking strategic planning and human resources - ANSWERSEvaluation
Mission - ANSWERSThe basic purpose of the organization as well as its scope of
operations
Strategic vision - ANSWERSA statement about where the company is going and what it
can become in the future; clarifies the long-term direction of the company and its
strategic intent
, Core values - ANSWERSThe strong and enduring beliefs and principles that the
company uses as a foundation for its decisions
Environmental scanning - ANSWERSSystematic monitoring of the major external forces
influencing the organization
Five forces framework of external analysis - ANSWERSRival firms, customers,
substitutes, suppliers, new entrants
core capabilities - ANSWERSIntegrated knowledge sets within an organization that
distinguish it from its competitors and deliver value to customers
Value creation - ANSWERSWhat the firm adds to a product or service by virtue of
making it; the amount of benefits provided by the product or service once the costs of
making it are subtracted
Composition - ANSWERSwho to hire, what jobs do we need to make internal
Forecasting supply of labour(considerations) - ANSWERSDemographic changes,
education of workforce, labour mobility, government policies, unemployment rate
Forecasting supply of labour (techniques) - ANSWERSStaffing tables, markov analysis,
skills inventories, management inventories, replacement charts, succession planning
Forecasting demand of labour (considerations) - ANSWERSProduct/service demand,
economics, technology, financial resources, absenteeism/turnover, organizational
growth, management probability
Forecasting demand of labour (techniques) - ANSWERSTrend analysis, managerial
estimates, delphi technique
Trend analysis - ANSWERSA quantitative approach to forecasting labor demand based
on an organizational index such as sales
Management forecasts - ANSWERSThe opinions (judgments) of supervisors,
department managers, experts, or others knowledgeable about the organization's future
employment needs
Markov analysis - ANSWERSA method of tracking the pattern of employee movements
through various jobs
Replacement charts - ANSWERSListings of current job holders and people who are
potential replacements if an opening occurs
SWOT analysis - ANSWERSA comparison of strengths, weaknesses, opportunities,
and threats that helps executives formulate strategy.
