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- 1HUMAN RESOURCE MANAGEMENTHUMAN RESOURCE MANAGEMENT
- 2What is human resource management?The purpose of HRM is to ensure that a business achieves the maximum benefit from its employees at minimum cost.
- 3What are HR objectives?1.Matching the workforce to the businesses needs (skill level, par/full time diversity e.g. age race)
2.Helping employees reach their full potential (through training, promotion, pleasant environment)
3.Supporting employees / employer relations (through good communication,advising managers,trying to reduce absenteeism and morale) - 4What internal factors affect HR objectives?The culture in the business - high turnover ok? e.g. McDonalds
Other departments needs
Finance available - 5What external factors affect HR objectives?The economy
Employment law
Environmental/ethical issues
Technology -might need employees who can use certain software - 6What are the two HR approaches?Hard and Soft
- 7What is hard HRM?Employees are seen as a resource
hired on a short term basis
Believed to be motivated by money
Appraisals are judgemental
Little training - 8What is soft HRM ?Employees are the most important resource
Managed on a long term basis, through empowerment
Appraisals are developmental
Lots of training - 9What costs do HRM calculate?Labour productivity
Labour cost per unit
Employee costs as a percentage of turnover
Labour turnover - 10Why would staff leave a business?Growth of competition
Poor internal motivation
No opportunities for promotion
Competitors offering better training, money,job satisfaction - 11Benefits of high staff turnover?New ideas come in from new staff
Employees might have been trained by competitors
Natural wastage might stop the need for redundancy
New staff may be really enthusiastic - 12Disadvantages of high staff turnover?New staff don't know the business
Lose trained staff
Productivity may drop as new staff are trained
Recruitment is expensive and time consuming
Customer relations - lose staff lose customers - 13What is a tall business structure?One with lots of levels of hierarchy -shop workers/supervisors/team leaders/managers /board of directors
- 14What are the problems with tall structures?Communication can be difficult
More paperwork to deal with -more staff
Decisions can take a long time
People might be micromanaged which demotes them. - 15What are the problems with flat structures?Managers can be overwhelmed -too many reporting to them
Span of control is too wide - 16What is delayering?Creating a flatter structure to reduce costs, enhance roles and improve communication
Can cost in the short term to retrain staff, managers can end up stressed - 17What are the advantages of a centralised structure?Business leaders have a lots of experience in making decisions
Decisions are consistent
They are not biased towards one department
Make decisions quickly - 18What are the disadvantages of a centralised business structure?Not many people are expert enough to make decisions about all aspects of the business
Excluding employees could be demotivating
Organisations react slowly so the competition could get in first - 19What are the advantages of a decentralised business structure?Involving employees in decision making motivates them
Employees have expert knowledge in their sectorDay to day decisions can be made quickly - 20What are the disadvantages of a decentralised business structure?Junior employees may not have enough experience to make decisions
Inconsistencies may develop
Junior employees may not be able to see the overall situation - 21What are the advantages of internal recruitment?Candidates know the business
short and cheap process
motivates workers to go for promotion - 22What are the disadvantages of internal recruitment?Leaves a vacancy in another department
Can cause resentment amongst staff - 23What are the advantages of external recruitment?Brings fresh ideas
Brings new experience
Large number of applicants - 24What are the disadvantages of external recruitment?Long and expensive process
Longer induction process
Don't really know candidate - 25What are recruitment processes?social media -linked in
selection processes - interviews
assessment centres
panels
aptitude tests
group exercises - 26What are the advantages and disadvantages of on the job training?Easy to organise, lower cost and job specific, BUT
staff member not productive during training, bad practices are passed on,no new ideas are brought to the business. - 27What are the advantages and disadvantages of off the job training?Trainers are specialists, new ideas brought to the business, no job distractions BUT
can be expensive,no benefit to the business whilst training, training might not be specific to day to day job. - 28Which internal and external factors affect HR plans?Internal - business,marketing and production plans
External - new technology, -need less staff,
Employment law
Economy
Competition
Demographic changes -migration and ageing population - 29Why do businesses want to motivate workers?More loyal
Work harder -more productive
Satisfies customers
Good reputation
Easier to find staff - 30TaylorThought workers were motivated by money
Believed they would do the minimum if left to own devices
He wanted to figure out the most efficient way of doing a job and make sure each task was done by the right worker (scientific management) - 31Taylor (2)He favoured division of labour -managers doing bigger tasks and workers same repetitive tasks.
Paid workers by quantity produced (piece rate) and fewer workers were needed.
Job insecurity and supervisors needed.
Not used today. - 32What is Maslow's hierarchy of needs?You meet the needs at the bottom of the pyramid and only then can you move up.
Self actualisation (meeting potential)
Self esteem (achievement)
Social needs (friendship, teamwork)
Safety (environment safe and job security)
Basic physical needs (food, shelter,water, clothes) - 33What are Herzberg's hygiene and motivating factors?He identified two groups of factors that influenced the motivation of workers
Hygiene factors - good working conditions, pay,relations (demotivate if not there)
Motivating factors - interesting work, recognition, achievement, responsibility)
Motivation comes from individual's needs.
BUT - small sample - 34Motivation Hackman and Oldham -theoryThey thought a job had to be designed and include the following
skill variety
task indentity -do from start to finish
task significance - what they are doing is significant
autonomy- make own decisions
feedback - - 35What are methods of pay?1. Piece rate - per item produced
2. salary - hourly rate, annual wage
3. commision - bonus on top of salary
4. performance related pay -paid on performance - 36How can you motivate employees?Flexible working -flexi time, job sharing,home working
empowerment
teamworking
pleasant environment
job enrichment - 37How can a business improve employer/employee relations?Better communication- prevented by attitudes, tall structures, language barriers, group behaviour
- 38Benefits of good relationsGood reputation -easy to recruit
Productivity improved -more competitive
Employees buy in to objectives
For the employee - job security -feel more involved
Make more money if more productive
Job satisfaction if consulted
develop skills - 39How can employees be represented in decision making processes?Work councils -to discuss work issues
Trade unions -negotiate rates of pay, working conditions, safe working conditions and can put pressure on government e.g. minimum wage. - 40What are the advantages of employee representation (trade unions)?More effective to approach an organisation as a group -bigger influence
Better for management to have a small group to negotiate with rather than everyone
Senior management get a direct insight into the concerns of staff - 41What are the disadvantages of employee representation (trade unions)?Could lead to industrial action
This can get out of hand and turn violent
Can lead to lost profits
Can undermine trust between an employ and employer - 42What factors affect pricing?brand image
cost plus pricing
price elasticity of demand
stage in product life cycle
competitors products - 43What are two promotional pricing strategies used for new products?Price skimming -sold at high prices as first to reach the market - scarcity value
Prices then drop after a while as imitation products enter the market.
Some use price skimming as a constant strategy for brand image - Apple - 44What are two promotional pricing strategies used for new products?(2)Price penetration- launching a product at a low price to attract customers and gain market share. Good in price sensitive markets.
But customers expect the low price to continue and low price can damage brand image. Can be used as an extension strategy or to attract different market e.g. budget airlines - 45Name other pricing strategiesPredatory pricing - to push other companies out of business
Competitor pricing - monitor and compare
Loss leader
Dynamic pricing - seasonal demand - 46What are the different types of promotion?Advertising
Direct mail
Event sponsorship
Personal selling (high value)
TV, print, billboards
Public relations
Branding
ALL USED TOGETHER - 47What are the benefits of branding?Charge a premium price
Loyal customers who buy repeatedly and have confidence in the product
Packaging important
Deters competitors
Price may become inelastic - 48What is place? (distribution channels)This is how we get the product to the customer.
Distribution channels include manufacturer- wholesaler-retailer-customer -down to manufacturer to customer
Can be short or long -short for more expensive.
Remember internet -multi channel - 49What are people, processes and physical environment?People -for services this is all the customer sees. Friendly , personable, knowledgeable, interpersonal skills.
Process- how easy it is to get what you want when you want -appointments/product in stock,after sales
Physical environment- surroundings -decor, cleanliness, appearance of staff, website, layout
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- A-Level Business studies Flashcards on Untitled, created by kkbaker15 on 15/05/2016.
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