-
What are the Four types of resources a firm has?
1.Humans,
2.Finance,
3.Machines, and
4.Materials.
- of these four, the humans cause the other resources to achieve the objectives of
- the firm.
-
The achievement of the firm’s objectives will be guaranteed if the humans present
fulfill the following conditions;-
1.Optimal number;
2.Have relevant competencies
3. Staff correctly deployed;
- 4. Motivation
- correctly addressed;
- 5. Compensation
- adequately addressed;
- 6. Staff
- capacity continuously improved and
- 7. Performance
- correctly managed.
-
What are Responsibilities of Human
Resource Management?
- 1.Human Resource Planning to ensure optimal number and relevant competencies
-
- 2.Recruitment to fill vacancies;
- 3.Deployment to ensure staff do what is suitable for them;
-
- 4.Motivation to ensure optimal performance;
-
- 5.Compensation to ensure equittable pay for all staff;
6.Staff development to ensure continuous improvement
- 7.Performance correctly managed to ensure
- efficiency and productivity
-
What is Human resource Management?
Human Resource Management is the function that deals with staff issues such as
compensation,
hiring,
safety,
wellness,
benefits,
employee motivation,
communication,
administration,
and training.
-
What are the Functions of Human Resource Management?
There are two broad categories of functions of HRM namely;-
1. Managerial functions
2. Operative functions
-
What are Functions required of any manager
- 1. Planning:
- Determining the firm’s goals and formulating policies and strategies of
- achieving them. For HRM planning is
- referred to as Manpower Planning.
- 2.Organising:
- Organising is the process of allocating specific roles to specific positions.
- Includes organization chart.
- 3.Directing:
- This is the process ensuring group or individuals efforts are geared towards
- the desired goals. Includes issuing directives.
- 4. Controlling:
- Setting performance standards and monitoring to ensure they are met and taking action incase they met.
-
What are the Operative Functions in Human Resource Management?
- These are human resource–specific functions
- which include:
- 1.Procurement:
- this is recruitment and
- selection and includes manpower planning, job analysis, recruitment, selection,
- induction and placement.
- 2.Development:
- Strategies to ensure that
- the knowledge, skills of the staff are continuously improved.
- 3.Compensation:
- this involves determination of salary and
- wage levels to ensure equity and competitiveness of the firm in the job market.
- 4.Maintenance:
- this is protecting and promoting employees
- while at work by availing benefits e.g. medical insurance, housing, education,
- transport, social securities, pensions etc.
-
What is Strategic Management?
Strategic Management is It is the process of
- identifying organization's objectives,
- -developing policies and plans to
- achieve these objectives,and
- allocating resources to implement the policies and plans to achieve the organization's objectives.
-
What are the Two Phases in Strategic Management
- 1. Strategy formulation
- This is decision about the vision and mission of the firm, long and short term
- objectives and selecting the strategies and activities to be implemented to
- achieve these objectives.
- 2. Strategy implementation
- involves using the firms resources,
- structures, systems, processes to implement the strategies. It involves
- providing leadership and monitoring the effectiveness of the strategies
-
What is Strategic Human Resource Management (SHRM)?
- SHRM
- Is the conscious application of human resource functions inorder to to
- achievement of the organizational goals. A deliberate move by the HR Department
- to ensure that all its activities lead to the achievement of organizational
- goals.
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