GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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strategic management
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marketing
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budgeting
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financial analysis
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Detailed explanation-1: -HR can put together succession plans that take into account the organization’s strategic goals. This can allow the organization to remain competitive even when there is turnover in key roles. (This is a critical time when a less organized company may falter.)
Detailed explanation-2: -Strategic human resource management (strategic HRM) provides a framework linking people management and development practices to long-term business goals and outcomes. It focuses on longer-term resourcing issues within the context of an organisation’s goals and the evolving nature of work.
Detailed explanation-3: -HR plays a key role in developing, reinforcing and changing the culture of an organisation. Pay, performance management, training and development, recruitment and onboarding and reinforcing the values of the business are all essential elements of business culture covered by HR.
Detailed explanation-4: -Determine compensation. In this aspect of the HRM plan, the manager must determine pay scales and other compensation such as health care, bonuses, and other perks.