Human Resource Management and Business Concepts

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Flashcards covering key terms and concepts from Chapter 10 Human Resource Management and accompanying lecture notes.

Last updated 6:48 PM on 10/4/26
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7 Terms

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Human Resource Management (HRM)

The strategic approach to the effective management of employees so that they help the business gain a competitive advantage.

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Workforce Planning

Planning how many employees, and what skills, are needed for the business in the future.

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Zero Budgeting

A budgeting method where each budget starts from zero and all expenditure must be justified.

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Work Force Diversity

Employees of different backgrounds, characteristics, and experiences.

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Mission Statement

A formal statement of the purpose and aims of a business.

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Public Sector

Consists of businesses owned by the government which aim to maximize social welfare.

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Sharon Yam

Managing Director of TMF Malaysia.