Human Resource
This function is a formal system for managing people at work, historically called personnel management.
What is human resource management (HRM)?
This function involves processing of planning, executing, and tracking a company’s strategy to meet customer demand and drive profitability.
What is marketing management?
This function is the process of analyzing money and investments to make short-term and long-term business decisions.
What is financial management?
IT ensures employees can communicate via email, live chat, and video-conferencing systems.
What is communication management?
The HR process that identifies the specific tasks, duties, and responsibilities of a job, as well as the skills and abilities needed to perform it.
What is job analysis?
The actions and decisions consumers make before buying products or services.
What is consumer buying behavior?
Helps the company plan long-term financial goals and maximize profits.
What is strategic financial management?
Updating software, installing new hardware, and assisting users with computer issues are part of this IT function.
What is technical support?
The part of HR planning that increases the pool of potential candidates for a job.
What is recruitment?
Grouping prospective buyers based on similar needs and behaviors to target them effectively.
What is market segmentation?
Focuses on achieving short-term goals by creating actionable steps for departments.
What is tactical financial management?
IT staff handle installing, configuring, and securing an organization’s computer systems.
What is administration?
This HR activity teaches employees how to perform their current jobs and develops broader skills for future roles.
What is training and development?
Creating a unique perception of a brand or product in the minds of customers.
What is market positioning?
Identify one way strategic and tactical financial management differ in terms of purpose or focus.
strategic focuses on long-term goals and overall company direction, while tactical focuses on short-term tasks and current market conditions?
The IT department manages and maintains this aspect of the company’s online presence.
What is the company website?
Explain how HRM helps a business gain a competitive advantage through its people.
by hiring, developing, and organizing employees whose skills, knowledge, and abilities are valuable, rare, difficult to imitate, and effectively deployed to achieve organizational goals
Name one type of market segmentation and briefly explain it.
What is demographic/geographic/behavioral/psychographic segmentation?
Explain why both strategic and tactical financial management are important for a company’s success.
ensures long-term planning, short-term execution, informed decision-making, and alignment of departmental goals with overall company objectives
Creating software applications that enable innovation, efficiency, and competitiveness.
What is application development?