The First Step in the Human Resource Management Process Is

question 36

True/False

The first step in the human resource management process is planning, which includes recruitment and decruitment.

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Definitions:

Logistics Approach

An overarching strategy in managing the complete process of planning, implementing, and controlling procedures for the efficient and effective transportation and storage of goods from origin to consumption.

Push Strategy

A marketing approach where a business takes its products to the consumer, typically through promotions and sales channels, to ensure product awareness.

Economies of Scale

A cost advantage that arises with increased output of a product, where fixed costs are spread out over more units of production, reducing the cost per unit.

Inventory Carrying Costs

Inventory carrying costs include the total expenses associated with holding and storing unsold goods, such as warehousing, insurance, depreciation, and opportunity costs.