Human Resources Management (HRM)deals with Formal Systems for the Management

question 74

Multiple Choice

Human resources management (HRM) deals with formal systems for the management of

• A)raw materials for production.
• B)the public image of the company.
• C)people at work.
• D)stockholder relations.
• E)board of director selection.

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Definitions:

Efficiency

The extent to which resources are used optimally to achieve a specific outcome with minimal waste.

Incentives

Factors, usually financial or material rewards, that motivate individuals or firms to act in a certain way.

OPEC

The Organization of the Petroleum Exporting Countries (OPEC) is an intergovernmental organization of oil-producing countries that coordinates and unifies the petroleum policies of its member states.

Efficient Allocation

The distribution of resources in a way that maximizes the net benefit to society or achieves a desired outcome effectively.