Human Resource Management MCQ

1181. In the unfortunate event of death of any employee due to Covid 19, the Bank provides ..... amount as financial assistance/ex-gratia amount to the dependents of such employees

Correct Answer: Correct answer is: (D) Rs. 30 lacs.

Exam Relevance: Bank PO, SSC, UPSC

Difficulty: Easy

Concept notes: The question pertains to the financial assistance provided by the Bank to the dependents of employees who have died due to Covid-19. The correct amount is Rs. 30 lacs.

Common Mistakes: Students may confuse the amount with other financial assistance schemes or benefits provided by the Bank, leading to incorrect selection of options.

Explanations: The Bank has established a policy to provide financial assistance to the dependents of employees who have died due to Covid-19. The specific amount provided is Rs. 30 lacs. This is a fixed policy and does not vary based on other factors.

Option Analysis:

Option A: Rs. 5 lacs is incorrect as it is significantly lower than the actual amount provided.
Option B: Rs. 10 lacs is incorrect as it is still lower than the actual amount provided.
Option C: Rs. 20 lacs is incorrect as it is also lower than the actual amount provided.
Option D: Rs. 30 lacs is the correct amount provided by the Bank.

1182. Which two elements make up an Approval Policy? (select 2)

Correct Answer: Correct answer is: (D) Only (A) & (B).

Exam Relevance: Certified Information Systems Auditor (CISA), Certified Information Security Manager (CISM), Project Management Professional (PMP)

Difficulty: Easy

Concept notes: An Approval Policy typically consists of two main elements: the condition (If) and the action (Then).

Common Mistakes: Students may mistakenly believe that an Approval Policy includes additional elements such as "How" or other conditions.

Explanations: An Approval Policy is structured around two primary components: the condition (If) and the action (Then). The condition specifies the criteria that must be met, and the action specifies what happens when the condition is satisfied. The element "How" is not a standard component of an Approval Policy.

Option Analysis:

Option A: "If" is a valid component of an Approval Policy, representing the condition.
Option B: "Then" is a valid component of an Approval Policy, representing the action.
Option C: "How" is not a standard component of an Approval Policy.
Option D: This option correctly identifies that only "If" and "Then" are components of an Approval Policy.

1183. Why human capital is important to organisation?

Correct Answer: Correct answer is: (C) Human has the knowledge, skills and capabilities values to organisation.

Exam Relevance: MBA, HRM, Organizational Behavior exams

Difficulty: Moderate

Concept notes: Human capital refers to the skills, knowledge, and capabilities of employees that contribute to an organization's productivity and success.

Common Mistakes: Students may mistakenly believe that human capital is solely about the cost of hiring and training employees, rather than the value they bring through their skills and knowledge.

Explanations: Human capital is important to an organization because employees bring unique knowledge, skills, and capabilities that are essential for the organization's operations and growth. These attributes are not easily replaced and are critical for maintaining a competitive edge. The value of human capital lies in the ability of employees to innovate, solve problems, and adapt to changing environments, which directly contributes to the organization's success.

Option Analysis:

Option A: This option is incorrect because while human capital can be expensive to replace, the primary value lies in the skills and knowledge employees bring, not just the cost.
Option B: This option is incorrect because while human capital is valuable, it is not priceless in the sense that it cannot be quantified or replaced, though it is difficult to do so.
Option C: This option is correct because human capital is valued for the knowledge, skills, and capabilities that employees bring to the organization, which are essential for its success.
Option D: This option is incorrect because one of the provided options (Option C) is correct.

Mnemonic: KSC - Knowledge, Skills, Capabilities

1184. ..... functions involve assisting and advising line managers.

Correct Answer: Correct answer is: (A) Staff.

Exam Relevance: HRM exams, Management exams, Organizational Behavior exams

Difficulty: Moderate

Concept notes: Staff functions involve providing support, advice, and assistance to line managers in various areas such as human resources, finance, and marketing.

Common Mistakes: Students may confuse staff functions with line functions, which are directly involved in the core business activities.

Explanations: Staff functions are designed to assist and advise line managers. These functions include departments like human resources, finance, and marketing, which provide support to ensure the smooth operation of the organization. Line managers rely on staff functions for specialized knowledge and guidance, making staff functions crucial for managerial support.

Option Analysis:

Option A: Correct. Staff functions provide support and advice to line managers.
Option B: Incorrect. Advocacy functions are not typically associated with assisting and advising line managers.
Option C: Incorrect. Line functions are directly involved in the core business activities, not in providing advice to managers.
Option D: Incorrect. Coordinative functions involve managing and integrating different parts of the organization, not specifically advising line managers.

Mnemonic: S.A.F.E: Staff Advises For Excellence

1185. Who coined the term 'informal sector'?

Correct Answer: Correct answer is: (D) Keith Hart.

Exam Relevance: UPSC, GRE, GMAT, Economics Olympiad

Difficulty: Moderate

Concept notes: The term 'informal sector' was coined by Keith Hart in the context of economic studies focusing on non-standard employment and economic activities.

Common Mistakes: Students often confuse the term 'informal sector' with other economic concepts or mistakenly attribute its origin to other economists.

Explanations: Keith Hart introduced the term 'informal sector' in his work to describe economic activities that are not regulated by the formal institutions of a country. This concept is crucial in understanding the economic dynamics of developing countries where a significant portion of the workforce is engaged in informal activities.

Option Analysis:

Option A: Keith Davis is not associated with the term 'informal sector'.
Option B: Amartya Sen is a renowned economist but is not credited with coining the term 'informal sector'.
Option C: Mahabub Ul Haq is known for his work in human development but did not coin the term 'informal sector'.
Option D: Keith Hart is the correct attribution for the term 'informal sector'.

Mnemonic: Hart's Informal Insight

1186. Which of the following is a disadvantage of using an executive recruiter?

Correct Answer: Correct answer is: (C) Unfamiliar with company perceptions of ideal candidate.

Exam Relevance: HR Management Exams, Recruitment Specialist Exams, MBA Exams

Difficulty: Moderate

Concept notes: An executive recruiter's disadvantage is their potential unfamiliarity with the specific company's perceptions and requirements for an ideal candidate.

Common Mistakes: Students may mistakenly believe that executive recruiters are always well-versed in the company's needs, overlooking the potential gap in understanding.

Explanations: Executive recruiters often have extensive networks and are skilled at identifying and contacting potential candidates, even those not actively seeking new positions. However, they may lack detailed knowledge of the specific company culture, values, and unique requirements for an ideal candidate. This unfamiliarity can lead to mismatches between the candidates they present and the company's actual needs, making it a significant disadvantage.

Option Analysis:

Option A: Many contacts in field. This is an advantage, not a disadvantage, as it allows the recruiter to access a wide pool of potential candidates.
Option B: Adept at contacting candidates who are not on the job market. This is also an advantage, as it expands the pool of potential candidates beyond those actively seeking new positions.
Option C: Unfamiliar with company perceptions of ideal candidate. This is the correct disadvantage, as it highlights a potential gap in the recruiter's understanding of the company's specific needs.
Option D: Ability to keep identity of firm confidential. This is an advantage, as it can protect the company's confidentiality during the recruitment process.

1187. Below are the Human Resource Management Functions except:

Correct Answer: Correct answer is: (D) Financial Stability.

Exam Relevance: HRM Exams, Management Exams, MBA Exams

Difficulty: Easy

Concept notes: Human Resource Management (HRM) functions include activities such as staffing, safety and health, and human resource development. Financial stability, while important for an organization, is not a core function of HRM.

Common Mistakes: Students may mistakenly believe that financial stability is a core HRM function because it is a critical aspect of organizational management.

Explanations: Human Resource Management focuses on managing the workforce, including recruitment, training, and ensuring a safe and healthy work environment. Financial stability, although crucial for the overall health of an organization, is typically managed by the finance department and not directly by HRM.

Option Analysis:

Option A: Staffing is a core HRM function involving the recruitment and selection of employees.
Option B: Safety and Health are part of HRM to ensure a safe working environment and compliance with health regulations.
Option C: Human Resource Development includes training and development programs to enhance employee skills and knowledge.
Option D: Financial Stability is not a core HRM function but rather a responsibility of the finance department.

1188. A temporary or permanent reduction in the number of employees because of a change in business conditions.

Correct Answer: Correct answer is: (A) Layoff.

Exam Relevance: HR Management Exams, Business Management Exams, Employment Law Exams

Difficulty: Moderate

Concept notes: A layoff is a temporary or permanent reduction in the number of employees due to changes in business conditions.

Common Mistakes: Students may confuse a layoff with discharge, which is the termination of an employee for cause.

Explanations: A layoff occurs when a company reduces its workforce due to changes in business conditions, such as economic downturns or restructuring. This is distinct from discharge, which involves termination for specific reasons like misconduct. Employee turnover refers to the rate at which employees leave and are replaced, and an exit interview is a meeting conducted with an employee who is leaving the company.

Option Analysis:

Option A: Layoff is the correct term for a reduction in workforce due to business conditions.
Option B: Employee turnover refers to the rate of employee departures and replacements, not a reduction due to business conditions.
Option C: Discharge is the termination of an employee for specific reasons, not a reduction due to business conditions.
Option D: Exit interview is a meeting with an employee who is leaving, not a reduction in workforce.

Mnemonic: Layoff: Less Available, Yielding Fewer Opportunities

1189. Which model can be used in tasks based on innovation and creativity?

Correct Answer: Correct answer is: (B) Six thinking hats model.

Exam Relevance: Business Management, Innovation Strategy, Creativity and Design Thinking

Difficulty: Moderate

Concept notes: The Six Thinking Hats model is a framework for group discussion and individual thinking, designed to improve creativity and decision-making.

Common Mistakes: Students may confuse the Six Thinking Hats model with other creativity models like the Blue Ocean Strategy, which focuses on market innovation rather than the process of creative thinking.

Explanations: The Six Thinking Hats model is specifically designed to enhance innovation and creativity by encouraging participants to consider different perspectives and aspects of a problem or idea. Each "hat" represents a different mode of thinking: white (information), red (emotions), black (critical thinking), yellow (optimism), green (creativity), and blue (process control). This structured approach helps in generating and evaluating ideas in a more comprehensive and creative manner.

Option Analysis:

Option A: The Innovation Matrix is not a widely recognized model for creativity and innovation. It is not as structured or specific as the Six Thinking Hats model.
Option B: The Six Thinking Hats model is a structured approach to creative thinking and problem-solving, making it suitable for tasks based on innovation and creativity.
Option C: The Blue Ocean model focuses on creating new market spaces rather than enhancing the process of creative thinking.
Option D: This option is incorrect as the Six Thinking Hats model is a valid and widely used model for creativity and innovation.

Mnemonic: Six Hats, Six Minds, Six Sides

1190. STABILITY, GROWTH , RETRENCHMENT ARE TYPES OF WHICH STRATEGIES?

Correct Answer: Correct answer is: (B) CORPORATE.

Exam Relevance: MBA, CFA, Strategic Management exams

Difficulty: Moderate

Concept notes: Corporate strategies encompass the overall direction and goals of an organization, including stability, growth, and retrenchment.

Common Mistakes: Students may confuse corporate strategies with business strategies, which focus more on specific operational activities rather than the overall direction of the organization.

Explanations: Corporate strategies are high-level plans that determine the overall direction and goals of an organization. Stability, growth, and retrenchment are types of corporate strategies because they define the broad approach an organization takes in terms of its size, market presence, and resource allocation. Stability strategies aim to maintain the current position, growth strategies aim to expand, and retrenchment strategies aim to reduce operations. These are not business strategies, which focus more on specific operational activities and tactics.

Option Analysis:

Option A: Business strategies focus on specific operational activities and tactics, not the overall direction of the organization.
Option B: Corporate strategies encompass the overall direction and goals of an organization, including stability, growth, and retrenchment.
Option C: Stability, growth, and retrenchment are not types of business strategies, but rather corporate strategies.
Option D: Stability, growth, and retrenchment are indeed types of corporate strategies, not business strategies.

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Human Resource Management MCQ - Set 119

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