Exam Questions and Answers for Human Capital Management
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Course
Business commerce
Institution
Business Commerce
competitive advantage - Answers doing something differently from the competition that leads to outperformance and success
human resource management - Answers the organizational function responsible for attracting, hiring, developing, rewarding, and retaining talent
total rewards - Answers the sum...
Exam Questions and Answers for Human Capital Management
competitive advantage - Answers doing something differently from the competition that leads to
outperformance and success
human resource management - Answers the organizational function responsible for attracting, hiring,
developing, rewarding, and retaining talent
total rewards - Answers the sum of all of the rewards employees receive in exchange for their time,
efforts, and performance
direct financial compensation - Answers compensation received in the form of salary, wages,
commissions, stock options, or bonuses
non-financial compensation - Answers rewards and incentives given to employees that are not financial
in nature including intrinsic rewards received from the job itself or from the work environment
business strategy - Answers defines how the firm will compete in its marketplace
talent philosophy - Answers a system of beliefs about how an organization's employees should be
treated
human resource strategy - Answers links the entire human resource function with the firm's business
strategy
employee handbooks - Answers print or online materials that document the organization's HRM policies
and procedures
shared service center - Answers centralizes routine, transaction-based HRM activities
outsourcing - Answers hiring an external vendor to do work rather than doing it internally
professional employer organization - Answers a company that leases employees to companies that need
them
HRM influences - Answers 1. what employees should do
2. what employees can do
3. what employees will do
2 broad areas HRM is responsible for - Answers 1. Talent/ Employees
2. Employement related legal compliance
Functions of HRM - Answers 1. Staffing
2. Health and Safety
, 3. Employee Management relations
4. Benefits and Rewards
5. Training and Development
6. Performance Management
Staffing - Answers process of planning, acquiring, deploying, and retaining employees to support
organizations mission.
Health and Safety - Answers wellness, fire and food safety, ergonomics, injury management, disaster
preparedness, etc.
Employee Management Relations - Answers reflects societal beliefs about relationships between
employees and capital owners
Benefits and Rewards - Answers need to be adequate and equitable and reward employees for their
contribution to the organization.
3 types:
1. direct financial
2. indirect financial
3.non-financial
Training and Development - Answers developing employees capabilities through formal and informal
activities
Performance Management - Answers aligning individual employees goals and behavior with
organizations goals and strategies.
David Lewin - Answers Developed the "dual theory of HRM and business performance"
Determined that it was a mutually beneficial relationship.
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