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HRM exam 1 part 2 questions & answers 2024/2025
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HRM exam 1 part 2 questions & answers 2024/2025 What are the three methods to assess whether HRM matters? - ANSWERSconceptual arguments: resource based view organizations have a lot of resources available (financially, physically, and interpersonally) Case studies: examine companies that do w...

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  • October 25, 2024
  • 10
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers

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  • hrm exam 1 part 2 questions answers

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HRM exam 1 part 2 questions & answers
2024/2025

What are the three methods to assess whether HRM matters? - ANSWERSconceptual arguments:
resource based view organizations have a lot of resources available (financially, physically, and
interpersonally)

Case studies: examine companies that do well/struggle to see how it connects to HR.

Quantitive Analysis: look at companies and determine if they are doing well by how they treat their
employees to create a good environment.



What is HRM? - ANSWERSa strategic approach to management of an organization's most valued assets,
focusing on the people working there, and having the goal of improving their attitudes and behaviors.



The "resource-based view" - ANSWERSThe value of the resource depends on if it is rare and inimitiable



what are some kinds of "resources" ? - ANSWERSFinancial

Physical

Interpersonal



What is a competitive advantage? - ANSWERSthe quality of employees that the company has who can
not be copied, (one up on the competition)



What two factors contribute to making resources valuable and have a competitive advantage? -
ANSWERSRare & inimitable



the article, "Uber is finally realizing HR isn't just for recruiting," what business function should HR be
treated like to demonstrate its priority in an organization? - ANSWERSFinance



In the article, "putting people first," in a study of 968 firms regarding their HR practices resulted in what
outcomes with regard to turnover, sales, and stock price? - ANSWERS- 7.05% decrease in turnover

, -$18,000 increase in stock market value per employee

-$27,044 increase in sales per employees



What is the 1/8 rule? - ANSWERS-1/2 of the organizations won't believe the connection between how
they manage people and the profits earned

-1/2 that do see the connection will make one single change to solve problems, not realizing that the
effective management of people requires more approaches

-1/2 will persist with practices long enough to derive economic benefits

1/8 (12%) of organizations will do what is required to build profits by putting people first.



The two general categories of HR challenges - ANSWERS-organizational demands: factors within the
company that influences employees managed

-Environmental demands: pressures that are outside that impact



Strategy as an organizational demand - ANSWERS-plan for achieving competitive advantage

-employees add value

-impacts types of jobs performed

-affects attitudes and behaviors employees show

-business strategy---> primary HR activities ------> contributions--->

COMPETITIVE ADVANTAGE



the two types of strategies - ANSWERScost leadership strategy(lowest costs, prices)

-focus on efficiencies and cost reductions

-minimize overhead and costs

-economies of scale are realized

-only one cost leader in an industry

Differentiation Strategy (selling unique features, willing pay more)

-includes features, location, innovation, reputation, status, and quality

-offering something competing firms do not and customer values

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