Key Business Functions (HR, Financial)

Sort the following functions for the HR Department and Financial Department respectively.

Groups:

(a) HR Department

,

(b) Financial Department

• Staffing

• Making decisions about sources of raising funds

• Manpower planning

• Analysis on the company's performance through financial ratios

• Reward management

• Making investment decisions

• Planning and budgeting

• Training and development

• Enhancing employee relations

• Performance appraisal on staff

Why do we need to do manpower planning?

• Decide what types of employees are needed to be hired to achieve the company's objective

• Recruit capable applicants

• Understand the weakness of the company

• Help the boss to hire good-looking applicants only

​ (a)   management is needed from HR department for a ​fair and ​ (b)   ​ (c)   system.

• Reward
• competitive
• compensation
• easy
• harmonious
• penalty
• Appraisal
• Training
• Communication
• Financial

Mr Lee noticed that his subordinates lack the technical skills to carry out their tasks. Which of the following HR management tasks is most relevant to this case?

• Staffing

• Performance appraisal

• Training and development

• Reward management

Mr Chan works at a large bank and is responsible for recruiting and selecting bank tellers. Mr Chan is most likely the bank's

• information manager

• finance manager

• bank clerk management

• human resources manager

Give 2 examples of financial ratios for financial analysis?

Match the respective tasks with the functions of financial management.

• forecasting needs, income and expenses

• making working capital decisions

• use appraisals to assess investments

• making investment decisions

• manage CA & CL to maintain liquidity

• financial planning & budgeting

• assessing company's performance

• making financial decisions

• determining sources of financing

• financial analysis

Which of the following is a main function of financial management?

• renewing contracts for contract staff

• controlling production costs

• obtaining loans from banks

• keeping track of inventory

List ONE importance of HR management.

List ONE importance of financial management.