Demonstrate how a company can add value by using Porter’s value chain analysis and use it for measuring customer satisfaction (500 words)

Human Resource Management

short answer questions:

1.Define strategic HRM and how it is linked to an organization’s business strategy. Provide an example.

2. Define and give three examples of one human right legal concept affecting managers and HRMs

3.As the HRM, what six questions would you ask in order to gather job information that would help you write a job description?

4.What three factors should be considered in designing a job?

5.Three reasons why you are studying a human resource management program?

Explain why government budget deficits crowd out private investment spending in a closed economy, but crowd out net exports in a small open economy. Assume prices are flexible and that factors of production are fully employed in both economies. Use the basic version of the open-economy model that abstracts from foreign debt accumulation.

As poor economies grow, the share of production that passes through formal markets rises as subsistence farmers become more integrated into markets and improved law enforcement reduces black market activity. Would this process tend to raise or lower the measured rate of economic growth? Would the measured rate of economic growth tend to understate or overstate the true rate of economic growth? What is a possible solution?

(a) In the Solow Model, how does the saving rate affect the steady-state level of income? How does it effect the steady-state rate of growth? Discuss.

(b) Why an economic policymaker choose the Golden rule level of capital?

(c) How does the rate of population growth affect the steady-state level of income? Does it affect the steady-state rate of growth?

(d) How can the policy maker influence a nation’s saving rate? Explain

Suppose we know that a policy did not produce any change in a household’s real per capita consumption expenditure. List at least five ways the policy might nonetheless have improved the household’s well-being. That is, suggest at least five stories regarding how the household’s circumstances might have changed, and how the household responded to those changes, that are consistent with the household’s well-being rising even while its per capita consumption expenditure remains constant.

2. Define externality and distinguish between positive and negative externality and their impact on production, using examples where possible.

3. How can a government correct for positive and negative externalities?

The four management functions are planning, organizing, leading, and controlling. Think of a job you have now or one you have had in the past. List the managerial activities you have done or observed. If you have never had a paid job, remember that it takes management skills to manage a home, run a baseball team, and lead a church group. Classify each activity of your job according to whether it involved planning, organizing, leading, or controlling - there should be activities under each of the four functions of management

Why might a U.S. based firm choose not to compete in global markets?

1. You win $10,000 in a lucky draw. You have a choice between spending the money now or putting it away for a year in a bank account that pays 5% interest. What is the opportunity cost of spending the $10,000 now?

Two drivers – Joan and Rob – each drive up to a gas station. Before looking at the price, each places order. Joan says, “ I’d like 40 litres of gas.” Rob says, “I’d like $40 worth of gas.” What is each driver’s price elasticity of demand?

In response to the decline in aggregate income due to the COVID-19 pandemic, Indian central bank has expanded money supply significantly, but the government of India has left its fiscal expenditure unchanged. In the context of IS-LM model, the pandemic had shifted the IS curve to the left, and the central bank’s response has rotated the LM curve downward. This is in contrast with the situation in other countries that launched expansionary fiscal as well as monetary policies. In other words, after experiencing a leftward shift in the IS curve due to the pandemic, other countries employed fiscal policies to shift IS curve to the right at the same time that their monetary policies flattened their LM curve. Assume that the pandemic effects and the policy responses are all temporary. In the following questions, please compare the macroeconomic outcomes of India’s current policies with the hypothetical situation where, like other countries, India had used an expansionary fiscal policy in addition to the monetary policy that it adopted.

(a) How would the interest rate and aggregate income in India have been different from the current outcome if India had added expansionary fiscal policy to its pandemic response?:

(b) How would the rupee exchange rate and net exports in India have been different from the current outcome if India had added expansionary fiscal policy to its pandemic response?

(c) How would investment and household consumption in India have been different from the current outcome if India had added expansionary fiscal policy to its pandemic response?

On the graph below, draw the demand curves for widgets, both before and after the government announces that anyone buying a widget will be subject to a new stiff tax.

On the graph below, draw the demand curves for apples, both before and after a sharp increase in the price of apples.

On the graph below, draw the demand curves for bananas, both before and after a new law requires banana peels to be recycled. Assume that the recycling center is quite inconvenient.

The questions are all related to tool and die manufacturers. The market for the products of tool and die manufacturers is relatively easy to enter and includes a large number of firms that produce a variety of fixtures, dies, molds, machine tools, cutting tools, gauges, and other tools used in other manufacturing processes.

A.

The above information about tool and die manufacturers implies the industry is a:

perfectly competitive industry

monopolistically competitive industry

oligopoly

monopoly

b.

How would a decrease in economic activity leading to a decrease in the demand for a wide range of manufactured products affect the market price of tool and die products?

increase price

decrease price

no impact on price

c.

How would a decrease in economic activity leading to a decrease in the demand for a wide range of manufactured products affect the profit maximizing level of output for individual tool and die manufacturers?

increase output

decrease output

no impact on output

d.

How would a decrease in economic activity leading to a decrease in the demand for a wide range of manufactured products affect firm profit in the short run?

increase profit

decrease profit

no impact on profit in the short run

e.

How would a decrease in economic activity leading to a decrease in the demand for a wide range of manufactured products affect the market in the long run, assuming lower demand persists?

there would be entry

there would be exit

there would be neither entry nor exit

a.

If in this industry, expansion results in increasing demand for the many workers with specialized skills, including cross-company recruitment and bidding up of workers’ wages, this must be:

A decreasing cost industry

a constant cost industry

an increasing cost industry

b.
If firms had been able to hire new workers without increasing wages industry-wide during expansion, the market could have expanded _________ than if wages increased.

More

Less

c.

If firms had been able to hire new workers without increasing wages industry-wide during expansion, the price of tool and die products would have been ________________ than if wages increased.

higher

lower

d.

What would the long run supply curve look like if expansion did not increase wages (or any other input prices)?

upwardly sloping

flat (horizontal)

downward sloping

e.

What would the long run supply curve look like if expansion did not increase wages (or any other input prices)?

upwardly sloping

flat (horizontal)

downward sloping