GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Change in business strategy
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Change in labor relations
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Changes in business finance
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Changes in education
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Detailed explanation-1: -External factors are things or events that influence HRM either directly or indirectly. These external factors can be broadly categorized as the social and cultural, technological, economic, political, and legal environments.
Detailed explanation-2: -External factors affecting human resource management are economic, socio-cultural, technological, political-legal, and professional association. These factors have different types of influences on human resource management.
Detailed explanation-3: -Human resources planning ensures the best fit between employees and jobs while avoiding manpower shortages or surpluses. There are four key steps to the HRP process. They include analyzing present labor supply, forecasting labor demand, balancing projected labor demand with supply, and supporting organizational goals.
Detailed explanation-4: -political-For example, new legislation. economic-For example, inflation and unemployment. social-Changes in taste and fashion or the increase in spending power of one group, for example, older people. technological-For example, being able to sell goods online or using automation in factories. More items
Detailed explanation-5: -External Factor: Available Labor Pool. External Factor: Government Regulations. Internal Factor: Level of Growth. Internal Factor: Use of Technology. 21-Nov-2018