Question

 

11- One distinguishing feature of organizations in the professional service industry is the difficulty in measuring the quantity and quality of their output

True

False

12- Effective cash management is not an objective of the financing process

True

False

13- The human resources management process is the same thing as the payroll process

True

False

Answer 1

(11) One distinguishing feature of organizations in the professional service industry is the difficulty in measuring the quantity and quality of their output

Answer : True; This i can substantiate with the help of an example. Suppose i take the example of a call centre. There quantity of output can be measured by the number of calls the service representatives take or average minutes they spend per call. Bothe of these might motivate very short calls to increase the number of calls attended without providing complete answers to customers or they may encourage long time wasting calls. This makes really hard to measure the quantity and quality of output

(12) Effective cash management is not an objective of the financing process

Answer: False; Effective cash management is one of the objective of financing process because unless and until a healthy cash flow is maintained , an organisation cannot meet its day to day expenses. Effective cash management ensures survival , success and stability of an organisation.

(13)The human resources management process is the same thing as the payroll process

Answer: False; both the process are not the same. Payroll is the process by which employees recieve salary and the functions involve balancing and reconciling payroll data and depositing and reporting taxes, recording wage deductions, calculating reimbursements, bonuses, overtime and holiday pay.

The human resource process on the other hand refers to managing people within the organisation and the functions are hiring new employees, motivating them, rewarding them by designing compensation packages and develop training programs.