Question

1. What do you think are the current and potential challenges and opportunities in the human resources management area?

2. Describe vividly breakeven analysis and explain what a breakeven point is.

Identify and explain at least 4 non-store retailing businesses. What advantages may non-store retailers have over store retailers?

Answer 1

A1. The human resource management is facing new challenges in the current times. There are new issues that can hinder the success of the company if not addressed and hence, human resource management must evolve to meet the growing challenges and to turn them into opportunities.

• Many business organizations face legal battles because of wrongful termination of employees and violating several laws and acts which are in place to ensure the rights of the employees. To meet this challenge, the human resource management can consult a legal agency which can help it in understanding various laws and local regulations which are required to ensure the employees' rights. This will help the management in designing its employee program to meet those guidelines.
• Due to the advent of technology, the skills required from the workforce are rapidly changing. There is a need for constant skills development programs and specific training courses to develop the skills and abilities of the staff. This will help the company in meeting the new-age challenges of the business world by developing an efficient workforce.