When Evaluating the Effectiveness of HRM Practices,organizations Have the Choice

question 35

Essay

When evaluating the effectiveness of HRM practices,organizations have the choice of using two approaches: fit or best practice.Briefly describe the difference between the two approaches.

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Definitions:

IFRS 8

An International Financial Reporting Standard that requires particular types of companies to disclose information regarding their operating segments, products and services, and geographical areas of operation.

Geographic Areas

Refers to specific locations or regions in which a company operates, often used for segment reporting or analyzing market performance.

Operating Segments

Components of a business that engage in distinct economic activities, generating revenues and incurring expenses, whose results are reviewed regularly by the entity’s decision-makers.

Consolidated External Revenues

The total revenue generated by a parent company and its subsidiaries, excluding transactions among them, reported in the consolidated financial statements.