Business Management and Information Systems – Page 11

The strategy and structure of compensation programmes have important implications for businesses and their ability to create and sustain competitive advantage.

Required:

(a) What is meant by ‘Compensation’?

(b) State FOUR characteristics of an effective compensation system.

(i) Direct compensation

(ii) Indirect compensation.

Answer

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Tags: Compensation, direct compensation, Employee Benefits, HR Strategy, indirect compensation
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – E18 – HR – Other human resources functions

Define 'employee compensation package' for Kumasi Bank Limited.

Question

Kumasi Bank Limited is a leading financial institution and is well-known for its strength in rendering highly efficient professional services to its customers and keeping ahead of the competitors.

The bank follows a policy of recruiting staff at the entry level after careful evaluation of the qualifications of the candidates, their potential for advancement, professional aptitude and career objectives. Staff are groomed and entrusted with increasing responsibilities after careful career-path planning for each employee.

The bank operates in a highly competitive environment where the skills, knowledge and commitment of its human resources are of critical importance for the success of its business. The competitors are always on the lookout to identify professional staff and hire them at more attractive compensation packages.

Required:

(a) What do you understand by the term ’employee compensation package’?

(b) List and explain the essential steps involved in the formulation and implementation of a well-conceived employee compensation strategy which the bank should incorporate in developing its overall HR strategy.

Answer

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Tags: Banking Industry, competitive environment, employee compensation, HR Strategy, Workforce Management
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – E17 – HR – Other human resources functions

Identify factors for management's indifferent attitude toward workers at Apex Mining.

Question

Apex Mining Corporation Limited owns and operates integrated facilities of mining of coal and iron ore along with power generation and distribution facilities. Although these facilities have been developed at a substantial investment cost, the management has been indifferent to the conditions of its workforce of 1,200 employees.

A major accident in the coal mines, which occurred recently, resulting in the death of 110 workers, has triggered wide-spread resentment and agitation among the workers due to the poor safety conditions and they have demanded strict compliance with the Mine Safety Rules and Regulations. Due to the aggressive attitude of the striking workers and to safeguard its assets, the Company has deployed private armed guards at a considerable cost.

After 28 days of complete closure of all mining and other business activities due to stand-off and strikes, the management and the Workers’ Union have agreed to enter into negotiations through a process of collective bargaining.

Required:

(a) State four factors which, in your opinion, are responsible for the indifferent attitude of the management of Apex Mining Corporation Limited towards its workers.

(b) Briefly describe five different measures that the management should take to satisfy the demands of the workers and help to achieve a conducive working environment.

Answer

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Tags: collective bargaining, employee relations, mining industry, worker satisfaction, Workplace Safety
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – QE16 – HR – Training and Development

State five benefits of training and development for an organization.

Question

There have been many instances where accountants have found themselves in conflict with human resource managers over investing huge financial resources in the training and development of employees. Some accountants consider such investment as wasting of resources.

(a). State FIVE benefits of training and development of employees to an organisation.

(b). State FIVE reasons you believe it would be in the interest of every organisation to remunerate its employees well.

Answer

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Tags: Compensation, Employee motivation, HR Strategy, Productivity, Retention, Talent Attraction
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – QE15 – HR – Other Human Resources Functions

Define job enrichment, job enlargement, and job rotation in HR.

Question

(a). Briefly define:

job enrichment;
job enlargement; and
job rotation.

(b). Which of these might be an objective of a job analysis and job redesign exercise?

Answer

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Tags: HR Functions, Job Analysis, Job Enlargement, Job Enrichment, Job Redesign
Level: Level 1

Topic: HR - Other Human Resources Functions

BMIS – L1 – QE14 – HR – Training and Development

Explain the difference between training and development in HR practices.

Question

Explain briefly the difference between training and development.

Answer

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Tags: Development, Employee Growth, HR Strategy, Skill Enhancement, Training
Level: Level 1

Topic: HR - Training and Development

BMIS – L1 – QE13 – HR – Recruitment

Discuss potential consequences of ineffective interviews in employee selection.

Question

What are the potential consequences of ineffective interviews?

Answer

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Tags: Employee Selection, HR Processes, Interview Effectiveness, Organizational Performance, Recruitment
Level: Level 1

Topic: HR - Recruitment

Subject (SQ): Business Management and Information Systems

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BMIS – L1 – QF3 – Introduction to information technology and information systems

Describe batch processing, listing two advantages and two disadvantages.

BMIS – L1 – QF2 – Introduction to information technology and information systems

Explain client-server computing and describe the use of file-servers and network-servers.

BIMS – L1 – QF1 – Introduction to information technology and information systems

Define and explain key features of primary storage (internal memory).

BMIS – L1 – E19 – HR – Other human resources functions

Define 'Compensation' in the context of employment.

BMIS – L1 – E18 – HR – Other human resources functions

Define 'employee compensation package' for Kumasi Bank Limited.

BMIS – L1 – E17 – HR – Other human resources functions

Identify factors for management's indifferent attitude toward workers at Apex Mining.

BMIS – L1 – QE16 – HR – Training and Development

State five benefits of training and development for an organization.

BMIS – L1 – QE15 – HR – Other Human Resources Functions

Define job enrichment, job enlargement, and job rotation in HR.

BMIS – L1 – QE14 – HR – Training and Development

Explain the difference between training and development in HR practices.

BMIS – L1 – QE13 – HR – Recruitment

Discuss potential consequences of ineffective interviews in employee selection.

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Subject (SQ): Business Management and Information Systems

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Describe batch processing, listing two advantages and two disadvantages.

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Define and explain key features of primary storage (internal memory).

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Define 'Compensation' in the context of employment.

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State five benefits of training and development for an organization.

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Explain the difference between training and development in HR practices.

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