Tag: organization of commerce and management

Questions Related to organization of commerce and management

State the following statement is True or False:
At the event of loss, insurance policy holders submit a claim.

organization of commerce and management business risks and insurance meaning, importance and principles of insurance features and principles of insurance meaning and definition of insurance

  1. True

  2. False

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Correct Option: A
Explanation:

The policy issued to the policyholder is a promise of assistance at the time of the uncertain incident(s) for which the policy has been issued. Once the event occurs, policyholder lodges a claim to activate the insurer’s response. If the claim is accepted, the insurer will fulfill the promise by reimbursing the money assured. 

The abbreviation "AAR' stands for ______________.

organization of commerce and management business risks and insurance meaning, importance and principles of insurance features and principles of insurance meaning and definition of insurance

  1. Annual Average Risk

  2. Annual All Return

  3. Against All Risks

  4. Against Average Risk

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Correct Option: C
Explanation:

The abbreviation "AAR' stands for Against All Risk. AAR is related with insurance companies. AAR insurance is primarily referred to a health insurance company of Kenya which started its operations in the year of 1984.

HRM is concerned with?

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. Workers

  2. Managers

  3. Field staff

  4. All employees

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Correct Option: D

Which one of the following responsibilities are specifically associated with the HR function of employee relations?

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. Conducting attitude surveys

  2. Work analysis

  3. HR information systems

  4. Job design

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Correct Option: A

HR Managers are generally

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. Staff Managers

  2. Line Manager

  3. Operational Manager

  4. Top Executive

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Correct Option: A

Strategic human resource management aims to achieve competitive advantage in the market through ______.

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. price

  2. product

  3. people

  4. process

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Correct Option: C

A job specification is defined as ______________.

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. scientific vocational selection

  2. catalogue of various qualities which a person doing a job should possess

  3. the right type of men should be put on different positions in a concern

  4. none of the above

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Correct Option: B
Explanation:

When there is a vacancy for any position in the business, the firm intends to fill this position through internal or external source of recruitment. when the employer takes out vacancy, it specifies the kind of work, qualifications, experience and other qualities required in the employee. This is known as job specification. This is made to get the best applications to choose from for the position. 

HR Department maintains ________ records.

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. Employee

  2. Sales

  3. Production

  4. Inventory

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Correct Option: A
Explanation:

Human resource department deals with effective management of the employees. It records everything about the employees, their performance, skills, kind of job performed, contribution to growth, decisions taken, etc. Evaluating these the managers decides about the salary and wages, increment and promotion, requirement of skills for the performing a task. 

Why might there be some difficulty in identifying and applying the best-practice approach to HRM in organizations?

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. Because the best-practice approach tends to be resource-intensive

  2. Because there are many variations in the literature and empirical research as to what constitutes best-practice

  3. Because the best-practice approach would not fit the cost-reduction driven strategies favoured by many short term economies.

  4. Because the best-practice approach does not emphasize the individual business context.

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Correct Option: A
Explanation:

Best practice method claims that there is a certain bunch of activities that the HR performs which is universally accepted for getting a competitive advantage irrespective of the organisational settings. 

In this method common methods are followed which are used by businesses with huge resources, the capacity to arrange for and use such amount of resources is not possible for all the organisations. It works on the principle of "one size fits all" which does not fit the need of the employees and the strategies of the organisation. 

Out of these which is not a function normally performed by the HR department? 

aspects of staffing staffing functions of management organization of commerce and management business studies

  1. Recruitment and selection

  2. Pay and reward

  3. Accounting

  4. Employee relations

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Correct Option: C