Organizational Concepts and Theories

What is Forecasting HR Supply?

• Predicting the future availability of employees internally and externally.

• Estimating the number of employees needed for future projects.

• Analyzing current employee performance metrics.

• Determining the budget for employee salaries.

What is Accounting?

• Collecting, analyzing, and sharing financial information.

• Managing employee schedules and payroll.

• Creating marketing strategies for businesses.

• Designing financial software applications.

What is 360-Degree Feedback?

• Evaluation from boss, peers, and subordinates.

• Feedback from only the boss.

• Anonymous surveys from customers.

• Self-assessment by the employee.

What is Training in HR?

• Teaching employees how to perform their current jobs.

• Providing employees with opportunities for advancement.

• Conducting performance evaluations for employees.

• Offering benefits and compensation packages.

What is a Statement of Cash Flows?

• Tracks cash inflows and outflows through operating, investing, and financing activities.

• A report that summarizes a company's revenues and expenses.

• A financial statement that shows the company's assets and liabilities.

• A document that outlines the company's strategic plan for the future.

What is Organizational Structure?

• Specification of jobs and how they relate within an organization.

• A method for increasing employee productivity.

• A framework for managing financial resources.

• A strategy for marketing products effectively.

What is Development in HR?

• Preparing managers/professionals for current and future jobs.

• Conducting performance reviews for employees.

• Implementing payroll systems for staff.

• Recruiting new talent for the organization.

What is Specialization in an organization?

• Assigning the same task to multiple individuals to increase efficiency.

• Breaking down a complex job into smaller tasks assigned to different individuals or groups.

• Encouraging employees to perform a variety of tasks to enhance skills.

• Creating a hierarchy of tasks where only managers make decisions.

What is Financial Accounting?

• Serving external users with general financial reports.

• Preparing internal budgets for management.

• Analyzing market trends for investment decisions.

• Recording daily transactions for personal finance.

What is a Balance Sheet?

• A summary of cash flow over a period of time.

• A report detailing the income and expenses of a business.

• Snapshot of assets, liabilities, and equity at a point in time.

• An analysis of market trends and forecasts.