Correct Answer: Correct answer is: (D) Only 2, 3.
Exam Relevance: HRM exams, Management exams, Organizational Behavior exams
Difficulty: Moderate
Concept notes: Human resources management is relevant to small business organizations, making the first statement false. Environmental scanning involves monitoring and evaluating external and internal environments, which is accurate. People are often considered the most valuable asset in an organization, making the third statement true.
Common Mistakes: Students may incorrectly assume that human resources management is only relevant to large organizations, leading them to believe the first statement is true.
Explanations: The first statement is false because human resources management is relevant to small business organizations as well. Small businesses also need to manage their employees, ensure compliance with labor laws, and maintain a positive work environment. The second statement is true as environmental scanning involves monitoring and evaluating both external and internal environments to provide key information to the organization. The third statement is true because people are often considered the most valuable asset in an organization, as they contribute to the organization's success through their skills, knowledge, and efforts.
Option Analysis: - Option A: Incorrect because the first statement is false.
- Option B: Incorrect because the first statement is false.
- Option C: Incorrect because the first statement is false.
- Option D: Correct because only the second and third statements are true.
Mnemonic: HRM not small, scan and people true