Business Management I 201 key Terms

What are "Benefits" in the context of employment?

• A project organized and sponsored by a company to help its employees

• Advantages or payments employees receive in addition to their wages

• Human resources management tasks that must be performed when a new employee joins the company

• The most common method of training; the employee learns by actually performing the job

What does "Compliance" refer to in a business setting?

• The process of planning, staffing, leading, and organizing the employees of the business

• Fulfilling the requirements of the law

• A significant change to a business’s structure or operations

• Acquiring assistance from outside organizations/consultants to accomplish business objectives

What is the purpose of an "Exit interview"?

• To provide job preparation or induction training for new employees

• To discuss responsibilities and tasks associated with a specific job

• To gain feedback for the business from employees who are leaving

• To explain the skills, knowledge, and characteristics required for a job

What is "Globalization" in the context of business?

• The rapid and unimpeded flow of capital, labor, and ideas across national borders

• The most common method of training in the workplace

• A project organized to help employees

• The explanation of responsibilities and tasks associated with a specific job

What is the main focus of "Human resources management"?

• The process of acquiring assistance from outside organizations to accomplish business objectives

• The process of planning, staffing, leading, and organizing the employees of the business

• The explanation of the skills, knowledge, and characteristics required for a job

• The process of job preparation or induction training for new employees

What is a performance review?

• A process where employees discuss their career aspirations with their managers.

• A formal assessment by the supervisor of a worker's job performance.

• A casual feedback session with colleagues about workplace performance.

• A yearly meeting where company goals and objectives are set.

What does professional development involve?

What is the goal of recruiting in human resources management?

• To provide training for current employees.

• To manage the company's financial resources.

• To seek out and attract qualified potential employees.

• To enforce company policies and regulations.

What is involved in staffing as a human resources management activity?

• Planning company events and managing office supplies.

• Recruiting, interviewing, hiring, orienting, and dealing with job changes for a company's employees.

• Setting up the company's IT infrastructure and maintaining databases.

• Conducting performance reviews and assigning salaries.

What is strategic management?

• The process of hiring and firing employees.

• The method of conducting performance reviews.

• The process of planning, controlling, and organizing an organization or department.

• The steps taken to resolve customer complaints.