The Nature of Staffing
following are its essential parts:
Staffing [Human Resource Management]
- It involves acquiring and developing human resources that
will carry out and perform the various activities of the
organization
- it includes human resource planning, recruitment, selection,
induction and orientation, training and development,
performance appraisal, employment decision, and separations.
- It is a managerial functions by which a manager attracts,
maintains and develops the company’s human resources or
workforce so that they can perform their tasks efficiently and
effectively.
-It is a continuous process
Effective human resource management helps the company
achieve its goals and maximize productivity since managers are
able to select quality employees.
The Human Resource Department (HRD) is tasked with
implementing human resource management in the company.
The HRD is also responsible for ensuring that the company
complies with the workplace safety standards and labor and
employment laws.
The Eight Steps Staffing Process
1. Human Resource Planning
2. Recruitment
3. Selection
4. Induction and Orientation
5. Training and Development
6. Performance Appraisal
7. Employment Decision
8. Separation
I. Human Resource Planning
- ensuring that in consideration of the organization's plans, the
right number and the right kind of people at the right time are
available and capable of effectively and efficiently performing
assigned tasks.
- critical component in determining the organization’s
manpower complement or the number of people that are
currently employed in the organization.
The process involved in the HRP are the following:
1. Environmental Scanning
It is crucial for a manager to find out the factors currently
affecting the labor market because this can affect the
company’s recruitment.
2. Forecasting and estimating the firm’s manpower
complement
Forecasting is done to identify the demand for and supply of
employees while considering the manpower requirement, the
internal supply of employees, and possible external sources of
employees.
3. Gap analysis
This is done to determine if there is a gap or difference between
demand and supply in human resources. If there is a shortage of
workers, the firm may opt to allow or encourage overtime work
or hire temporary or contractual workers.
Job Description - a written summary of duties,
responsibilities, reporting relationships, and the job
specifications for each job or position in the company, the
A. ) Job title or position - this describes the exact name
of the job like Human Resource Manager, Production Manager,
etc
B. ) Reporting Relationships - this includes the job
title for the position’s immediate supervisor. And also includes
the subordinates under the employee’s supervision.
C. Job classification - in large companies job titles
have different job classes or levels. Classification provides the
rank of the job in comparison to the overall importance of other
jobs.
D. General Description of the job - This portion
Provides a description of the job and an overview of its duties
and responsibilities.
E. Specific Duties and Responsibilities - this describes
the functions of the job in details.
F. Job Specification - it provides the minimum
qualifications for a particular job such as educational
background, experience, skills, and personal qualities.
II. Recruitment
- refers to attracting qualified persons to apply for vacant
positions in the company so that those who are best suited to
serve the company may be selected
Sources of Applicants
A. Internal Applicants - they are company employees who are
considered for promotion to higher positions. Incurs lesser
III. Selection
- refers to the act of choosing from those that are available the
individuals most likely to succeed on the job.
- the purpose of selection is to evaluate each candidate and to
pick the most suited for the position available
Ways of Determining Qualifications of a Job Candidate:
1. Application Blanks - it provides information about the
persons characteristics such as age, marital status, address,
education, etc.
2. References - are those written by previous employees, c0-
workers, teachers, club officers, etc.; there statement may
provide some vital information on the character of the
applicant.
3. Interview - information may be gathered in an interview by
asking a series of relevant questions to the job candidate.
4. Testing - this involves an evaluation of the future behaviour
or performance of an individual.
Types of Test
* Psychological Test - is an objective, standard measure of a
sample behaviour, it is classified into: aptitude test, IQ Test,
personality test.
* Physical Test - a type of test given to assess the physical
health of an applicant.
IV. Induction and Orientation
Induction - a process takes place to welcome newcomer to the
organization to make them ready for their job.
Orientation - socialization process, which involves
assimilation of new joiner into the organization, to rehabilitate
them at the new workplace and provide with basic information
about the company.
V. Training and Development
These are two distinct processes in employee
development:
* Training - refers to learning that it provided in order to
improve their skill and performance on the present job.
* Development - the enhancement of the competencies of
employees by giving them opportunities for greater
responsibilities as well as challenging tasks that will help them
achieve their total growth.
Various Training Techniques and Programs
1. Lecture - the oldest and most popular method of teaching
where the trainer or speaker gives a speech explaining a topic
or concept.
2. Demonstration Method - showing how something is works
or how to perform a task.
3. Computer-based Training - utilizes computer programs to
teach knowledge and skills, and does not requires face-to-face
interaction with a trainer.
4. Programmed Instruction - a form of computer-based
training that uses an instructional program that employs a
variety of content such as text, graphics and multimedia.
5. Virtual Reality Method - a method that allows the
participants to experience a 3D environment.
6. Case Study Method - a method that presents a particular
situation and trainees discuss and decide on a solution to an
organizational problem highlighted in the case.
7. Role-playing Method - presents actual work situations for
analysis and participants are asked to act out specific roles.
8. Teambuilding - a training program that utilizes activities
that encourage employees to work in a groups.
Compensation and Wages
Compensation - any tangible equivalent or reward for services
rendered or for the performance of a task performed in the
organization.
Direct Compensation - monetary in nature given in the
form of: salaries, wages, commissions, etc.
Indirect Compensation - given in the form of services
and non-monetary benefits such as hospitalization, summer
outings, vacation leaves, etc.
Minimum Wage Law - is set to protect manual laborers from
being taken advantage and abuse of the company.
Salary - refers to compensation given to professionals on a
monthly or semi-monthly basis.
Wages - refers to compensation given on a weekly or daily
basis.
Common Modes of Payment
1. Payment for time-worked
a) Across the board increase - pay adjustments
provided to all employees with the same rate
regardless of rank.
b) Merit increase - salary or wage increase given to
employees on the basis of performance.
c) COLA (Cost of Living Allowance) - a monetary
allowance given to employees to help them cope
with the prevailing conditions of the economy related
to the standard of living and increasing prices due to
inflation.
2. Flat rates
- firms with flat rates do not consider skills and seniority
as factors for giving compensation. Companies pay their
employees same amount regardless of rank.
3. Compensation through incentives
- these are payments based on output. Common examples
are the following:
a. Merit pay - is given in recognition of outstanding
performance and based on the results of a performance
evaluation.
b. Piece-rate pay - is given to employees who are paid
a fixed rate per product produced.
c. Commission - is a compensation based on an
achieved sales quota.
d. Group incentives - is given to a team that has
achieved a particular sales or production target.
4. Special Payments
- additional compensation given in special cases. It
includes the following:
a) Overtime pay - this covers work done beyond the
normal schedule of 8 hours a day, and is given on top of
the basic salary.
* 25% of the hourly rate in excess of eight hours
performed on ordinary working days.
*30% of the hourly rate in excess of eight hours
performed on a scheduled rest day, special day, and a
regular holiday.
b) Holiday pay - This is payment for unworked regular
holiday based on the employee’s daily rate.
* paid 100% of his/her daily rate, provided that
he/she was present or on leave with pay on the work day
before the holiday.
* paid 200% of his/her daily rate if he/she works on a
holiday
c) Premium pay - This is payment given to employees
who work during rest days and special holiday.
* additional of atleast 30% of the basic daily rate for
worked performed during these days.
*additional pay of 50% of the basic daily pay if
worked on special day and rest day.
d) Night shift differential payment - an additional 10%
of basic rate for each hour of worked performed between
10:00PM to 6:00AM.
e) Severance or Separation pay - the duty of the firm to
provide separation pay to employees who are terminated
with authorized caused. An authorized cause maybe one of
the following:
1. Retrenchment
2. Closure of the firm
3. Illness that may affect his or her performance or is
highly contagious
- equivalent to half of a month’s pay for every year of
service.
f) Retirement - An employee who is 60 or 65 years old
shall receive on-half month salary for every year of
service provided that he/she rendered five years of
continuous service to the company.
g) Thirteenth Month Pay - All employees are entitled to
thirteenth month pay provided that they have worked for
at least one month in a calendar year.
Employee Benefits
- are divided into two main groups:
* government-mandated benefits are those required by law
* voluntary benefits are those that are voluntarily given by
the company.

The following are the government-mandated benefits:
1. Social Security System (SSS)/Government Service
Insurance System (GSIS) benefits - All income earners and
workers, particularly employees working in private firms, are
required to give monthly contributions to the Social Security
System. Government employees avail of benefits from the
Government Service Insurance System or GSIS.
2. Employees' compensation (EC) program - This is given to
private and government employees in case of work-related
injury, disability, sickness, or death.
3. Pag-ibig (Home Development Mutual Fund) benefits -
Employees also contribute to Pag-ibig, which is the
government-established housing finance program.
4. Philhealth (Philippine Health Insurance Corporation)
benefits - This is a government-established health insurance
program that gives members and their dependents financial
assistance for hospitalization
6. Maternity leave - This is given to all female SSS members
whether married or unmarried. The maternity leave period is
105 days for female workers with an option to extend for an
additional thirty (30) days without pay, an additional fifteen
(15) days for solo mothers.
7. Paternity leave - This is granted to all married male
employees working in private firms, for the first four deliveries
of the male employee's lawful wife. Paternity leave can last up
to seven days after the wife's delivery
The following are examples of voluntary benefits:
1. Vacation leaves - The number of vacation days given to
employees varies from one company to another. Companies
may grant a vacation leave consisting of five (5), ten (10) or
fifteen (15) days.
2. Sick leaves - Companies provide more than the allowed
number of days for the service incentive leave as sick leaves.
Sick leaves are convertible to cash at the end of the vear.
3. Emergency leaves - Some companies provide emergency
leaves of three days or more for reasons not applicable to sick
and vacation leaves
4. Summer outings - Companies may organize exclusive
summer outings for their employees and bring them to resorts
or beaches.
5. Sportsfest - Companies organize sportsfests where their
employees engage in sports
6. Rice subsidy - Regular employees are provided one sack of
rice per month.
7. Meal subsidy - Employees are given meal stubs with
corresponding values that can be spear in the cafeteria. The
food expenses are later deducted from the employee's bill.
8. Shuttle service - Employees who live in locations that are
far from the office or plant are provided transportation services
where shuttle buses pick them up at designated points and bring
them to the company premises.
9. Hospitalization - Apart from health benefits provided by the
SSS, Philhealth, and the ernployee compensation program,
there are companies that extend hospitalization benefits to
employees and their dependents.
11. Bonuses - Aside from the 13th month pay, some companies
also give 14th month up to 17th month pay to their employees.
14. Christmas parties and packages - Christmas benefits are
extended to employees in the form of Christmas parties that
include exchange gifts, raffles, and gift basket giveaways
15. Cash bonuses - Companies provide cash bonuses to
employees at the end of the
VI. Performance Appraisal
Performance appraisal refers to the process where employee
performance is documented and evaluated. This is also known
as performance review or performance evaluation. An
appraisal determines whether employee performance is
effective and conforms to company Standards and expectations.
The following are the purposes of performance
appraisal:
1. Needs assessment - Performance evaluation provides
relevant information about the specific training needs of
employees.
2. Employee movements - It helps management decide who
will be promoted by providing proof of meritorious
performance.
3. Basis for merit increase - Performance appraisal gives
strong proof for merit increases.
4. Legal concerns - If there are questions regarding certain
decisions like termination, the appraisal becomes the basis for
justifying such action. The results of appraisal is also used to
address issues on rewards, layoff, and employee transfer.
5. Development - A series of performance appraisals tracks the
growth of employees. The appraisals serve as evidence for
identifying career paths and determining personnel
development.
6. Channel of communication - Appraisal provides good
venue for discussion regarding performance and other issues
between an employee and his or her immediate supervisor.
7. Source of motivation - Performance evaluation is one of the
best ways to keep employees motivated. It is one way to boost
employee morale and in courage them to make a good
impression and give an outstanding performance in their job.
Performance Appraisal Methods
Performance appraisal is done through objective or
judgmental methods.
* Objective methods include measures of actual output
and performance test. Ex: include volume of sales or number of
orders processed.
- Performance test - this test evaluates an employee
using a set of standardized conditions.
* Judgmental methods include ranking and rating
techniques.
-Ranking technique - employers are compared to
other employees. Drawbacks to this technique method where
employees are compared to other employees. Ranking also does
not provide sufficient information for feedback as evaluate
focus on the general performance of employees
-The rating technique is an appraisal method that
compares an employee to a fixed standard. A rating scale is
used to measure the characteristics of an employee, as well as
his or her job performance.
VII. Employee Movements
An organization can move its employees either vertically or
horizontally.
* Vertical movement entails the movement of an employee
from a lower position to a higher one.
* Horizontal movement involves the transfer of an employee
to another department or position with similar responsibilities
or status.
 Promotion is a movement to a higher level or position.
 The usual criterion promotion is a combination of
tenure and meritorious performance. Tenure refers to
 the number of years in Service of an employee while
meritorious performance refers to an excellent or
outstanding performance of an employee.
 Demotion is a movement to a lower level or position. A
common reason for an employee's demotion is
inefficiency or poor performance.
 Transfer is a movement to another position but with the
same level or scope of responsibility. It can also mean a
transfer to another branch or location but the employee
still occupies the same tasks.
VIII. Separation
- or an employee's departure from the organization.
It may take the following forms:
1. Resignation - This is an employee's voluntary decision
to leave the organization. The usual reasons for employee
resignation is to look for better opportunities in other
companies and avail of higher salaries and benefits.
2. Separation with authorized cause - More commonly
known as layoff, this is the company's decision to terminate
employees due to business reasons. One of the more common
reasons is redundancy, wherein the introduction of a new
technology will duplicate some of the existing functions of
certain jobs.
3. Separation with just cause - This occurs when an
employee is terminated due to theft, fraud, and other serious
offenses. In this case the employee does not receive any
severance pay from the company. Apart from being terminated
from the company, an employee who was found to have
committed grave offenses may also be subjected to legal
sanctions.
4. Retirement - This refers to the end of a worker's
employment with the company due to old age, illness, or
infirmity. There is no prescribed age for retirement, although
many companies set the normal retirement age for employees at
60 years old.
Employee Relations
Effective employee relations management is an essential
component that contributes to the success of a company. The
following elements are considered in establishing and
maintaining good employee relations.
1. Drive for commitment - When a company fosters good
relationship between management and employees, the latter is
more likely to become loval and committed to the organization.
It is very important to always win employees over and gain
their loyalty to the organization.
2. Harmonization of terms and conditions of employment -
Management should ensure that employees are provided good
work conditions and benefits as stated in their employment
contracts. In doing so, the general satisfaction of employees is
assured as well as their continued motivation to do well in their
jobs.
3 Emphasis on mutuality - Management must be inclusive
and employees must feel that managers are also a part of the
work team. )
4. Policies and practices for communication - Clear and
honest communication between employees and management is
a vital component of labor relations that will ensure continuous
and harmonious relationship among members of the company.
Good communication is key in resolving conflict between
employees and management. The company must ensure that
there is constant dialogue between employees and management.
Labor Unions and Collective Bargaining
Employees have the option to form labor unions, also known as
labor organizations, for the purpose of collective bargaining or
mutual aid, interest, cooperation and protection.
Labor unions in the Philippines are classified as either public
sector unions or private sector unions.
* Public sector unions or government employees unions
are organized by employees of government agencies.
* Private sector unions are those whose members are
employed in commercial, industrial and agricultural enterprises,
including non-profit or charitable organizations, and medical,
religious, and educational institutions.
Collective bargaining refers to the process by which the labor
union negotiates a labor contract with management. This labor
contract or collective bargaining agreement contains
agreements on compensation, benefits, duties of employees and
management, work hours, job security, promotion, layoffs,
vacation and rest periods, and the grievance procedure should
there be violations to the labor contract.
Employee Code of Conduct
The code of conduct defines the acceptable behavior of
employees within the workplace. The code of conduct is
considered a legal agreement between the company and the
employee that he or she will observe ethical workplace conduct
at all times. Codes of conduct vary from one industry to
another, but some of its essential contents are as follows:
1. Prohibition of illegal activities such as gambling, smoking,
or drinking
2. Prohibition of discrimination against gender, race, religion,
and civil status
3. Sexual harassment
4. Confidentiality and disclosure of confidential information
5. Dress code and appearance
6. Punctuality (tardiness and absences)
7. Procedures for sick leaves and emergency leaves
8. Sanctions for violations of the code of conduct
General Steps in the Disciplinary Process through HRD
Disciplinary actions are taken to address misconduct in the
workplace or any type of violations against company rules.
Due Process
Any disciplinary issue involving employee violations of the
code of conduct must go through due process. This ensures that
the disciplinary process is conducted in a fair and impartial
manner with due regard for the rights of the employee. Due
process ensures a fair and impartial hearing on employee's
violations or a management decision which threatens an
employee's tenure or status of employment.

Chapter 6 Leading
Chapter Summary Essential Ideas
 Leading is a management function that involves the
inspiring and influencing of people in the organization to
achieve a common goal.
 Successful leadership begins by focusing on the
psychological well-being of both the employer/leader and
the employee/subordinate.
The Big Five Personality Traits that ensure success/efficiency
in the workplace are:
* extra version, * agreeableness, * conscientiousness, *
emotional stability, and * openness to experience
 Motivation refers to psychological processes that arouse
and direct goal-directed behavior.
Theories of Motivation
Early theories of motivation revolved around the idea that
motivation is brought the employees desire to fulfill their
needs.
1. Maslow's Hierarchy of Needs Theory refers to
physiological, safety, social, esteem, and self-actualization
needs.
Other Theories related to need satisfaction are:
* McGregor's Theory X and Theory Y - two approaches of
leadership in the workplace:
- Theory X assumes workers inherently dislike work and
avoid it as much as possible.
- Theory Y assumes workers take initiative
* Herzberg's Two Factor Theory - states that employee
satisfaction is defined by two important factors:
- motivators fsactors - include the nature of job itself,
recognition, personal growth, etc.
- hygiene factors - include rules and policies, salaries and
benefits, relationship among coworkers, work condition, etc.
* McClelland's Three Needs Theory - the theory defines
three motivators which are learned and shaped by a person’s
life experience
- learned needs are achievement, affiliation, and power
* Alderfer's ERG Theory - three major types of needs: ERG
(existence, relatedness, growth):
- existence - comprised of physiological and safety needs
- relatedness- combines love and belongingness
- growth needs - include self- esteem and self actualization
Modem Theories of Motivation are:
- Goal-setting Theory
- Reinforcement Theory,
- Job Design Theory,
- Equity Theory
- Expectancy Theory
Early leadership theories include the following:
* Trait Theory which is based on a leader's personal
characteristics and
* Behavioral Theory which focuses on the leader's conduct,
and demeanor as a leader
Modern leadership views include the following theories:
* 1. Transactional - considers the relationship between
followers and leaders as key to achieving goals.
- leaders should give equal treatment and due recognition
to their members..
* 2. Transformational - it emphasizes the concept of change
and believes that leaders are tasked to provide direction and
implement changes through performance and attainment of
goals.
- transformational leadership wherein the leader
transforms the followers,
* 3. Charismatic
* 4 Visionary,
* 5. Team Leadership
* 6. Servant Leadership
 Communication is the interpersonal exchange of
information and understanding among organization
members.
 Communication may be verbal, non-verbal, formal, and
informal.
 Communication direction and flow may be vertical
(upward or downward), horizontal, lateral. and diagonal
 Barriers to communication filtering, emotions felt by
receiver, information overload, defensiveness, language
used, and national culture.
 Organizational change is any alteration of people
structure or technology in organizations trough by external
or internal forces which they encounter.
To manage resistance to organizational change, the
following are needed: a) education of employees
regarding the reasons and importance of change; b)
participation of members in decision-making related to
bringing about change; c) facilitation and support to
minimize fear of change; by manipulation of information
to avoid damaging information; e) selection of people who
are open to change, to help disseminate beneficial effects
of change, and by f) coercion or the use of force to make
people accept change.
 Organizational culture is a shared set of beliefs, values,
norms, standards of behavior and expectations that
influence the interaction of organization members in order
to achieve their mission, vision, goals, and objectives.
 1. Organizational productivity is the amount of goods or
services produced (output) divided by the input or materials
needed to produce the said output.
2. Organizational effectiveness is a measure of the
organizational goals' suitability to organizational needs and
Chapter 7 Controlling
how well these goals are being attained.
Chapter Summary/Essential Ideas:
3. Ranking in industry is a commonly used way to measure
organizational performance; being ranked high, middle or low
The Nature of Controlling
indicates the company's performance in comparison with
* Controlling is a management function that ensures the work
others.
performance of the organization's members are in-line with the
organization's values and standards.
Control Methods and Systems
* Control techniques are basically the same for controlling
Control methods are techniques used for measuring an
financial resources, office management, quality of service, and
organization's financial stability, efficiency, effectiveness,
quality of goods, among others.
production output, and organization members' attitudes and
* The control process involves establishing standards,
morale.
measuring and reporting actual performance and comparing it
with standards, and taking action.
Control techniques are either quantitative or non-quantitative.
- Quantitative control methods include chart, budget,
The Link Between Planning and Controlling
and audits.
There is a link between planning and controlling.
- Non-quantitative control methods include inspections,
* Planning determines the organization's goods or performance
direct supervision on the spot checking, performance
objectives.
evaluation, and counseling.
* Controlling makes sure that all organization members are
working towards a common direction or towards the previously
Other control methods: feed forward control, concurrent
set goals and plans of the organization.
control, feedback control, employee discipline, and project
management control
Accounting or Financial Control
Financial controls are important tools that determine whether
Management control accounting and finance makes use of a
the company is on track toward achieving financial goals.
balance sheet, income statements, and cash flow statement to
Financial ratios are one control methods utilized in financial
analyze and examine financial statements in order to determine
control. The following are the common financial ratios:
the company's financial soundness and viability; it also uses
* liquidity ratio - measures the company’s ability to meet its
financial ratios to determine the company's stability, whether it
current debt obligation
is strong or weak and about to declare bankruptcy.
* leverage ratio - assesses the organization’s use of debt to
finance its assets and meet the interest payments on debts.
Management control marketing makes use of projected sales or
* activity ratio - measures the efficiency of the company in
forecasts; statistical models and econometric modeling to
using its assets to meet various financial obligations and
achieve growth targets surveys to assess product demands, and
convert its various accounts to cash
historical con and data and actual consumption of their
* profitability ratio - measure efficiency of the company in
products.
generating profits
Strategies control is a systematic monitoring of control points
in strategic plans that leads to the changing of the organization's
The Main Types of Financial Statements
strategies based on assessments.
1. Balance Sheet - is a financial statement showing the
organization's financial condition; it presents the financial
Types of Benchmarking
balances of a particular period and follows an accounting
Benchmarking is an approach and process of measuring a
entry A = L + C or total asset is equivalent to the aggregate
company's services and practices against recognized leaders in
summation of liabilities and capital or owner's equity
industry to identify areas for improvement.
2. The Income Statement- is also known as the Profit and
a) strategic benchmarking compares various strategies
Loss Statement, and Revenue and Expenses Statement
and identifies the key strategic elements of success;
3. The Cash Flow Statement - summarizes the inflows and
b) operational benchmarking compares relative costs or
outflows of cash during the given period.
possibilities for product differentiation; and
c) management benchmarking focuses on support
functions such as market planning and information systems,
Financial Statements, to be useful in doing financial forecast,
logistics, and human resource management, among others.
must contain the following minimum items: sales or gross
revenues, net income, gross profit, income from continuing
Budgeting
discontinuous operations, usual income statement items, tax
Budgets are plans that monitor control and make use of the
provisions, material changes in financial positions.
resource of the firm on its operation based on its objectives or
goals.
The usual measures of organizational performance control
* Fixed budget allocates a fixed amount of resources for the
are organizational productivity, organizational effectiveness,
specific purpose, while a flexible budget allows allocation of
and rankings in industry.
resources to change depending on firm's activities.
Budget-making improvement involves: a) collaboration and
communication with organization administrators and selected
members; b) practicing flexibility to adapt to organization's
needs; c) relating budget to company goals; d) coordinating
budget with all company departments for them to make full use
of the budget allocations given to their respective units; e)
using computer softwares when needed to facilitate accurate
computations and proper dissemination of information related
to the budget.
Other quantitative control methods:
1. Budgets - an expression in financial terms of a plan for
meeting the organization's
goals for a specific period. It is an instrument of planning,
management, and control.
2 Audit -- an independent review and appraisal of accounting,
financial, and other non-tactical operations. The audit measures
and evaluates the effectiveness of management controls and
provides an independent audit of programs, activities, systems
and procedures.
Chapter 8: Introduction to the Different Functional Areas
of Management
Chapter Summary:
Functional Areas of Management
1. Human Resource Management (HRM)
2. Marketing Management
3. Operations Management
4. Financial Management
5. Information and Communication Technology Management
1. Human Resource Management (HRM) is the process of
attracting, training, developing, and maintaining an excellent
workforce.
HRM functions of management include the following:
a. conducting job analyses:
b. planning labor need and recruitment;
c. selecting candidates for the job;
d. orienting and training new employees;
c. managing compensation or pay:
f providing incentives performance;
g. Evaluating employees' performance,
h. communicating;
i. developing employees;
j building employees' commitment:
k. providing good working conditions; and
1. handling grievances and industrial relations.
b) Improvement of productivity and competitive
advantage; and
c) Managing sequence of activities and information
along the whole course of the value chain
4. Financial management is the management and custody of
the organization's funds, seeing to it that funds are effectively
utilized in order to provide for all the needs of the various
operating units of the organization.
Financial management functions of management includes:
a. taking charge of the company's financial policies and
strategies, investments, capital structures and dividend
policies
b. financial management and control; and
c. financial planning
Financial management facilitates the choice of investments,
financial policies, and operating mechanism of the
organization to effectively achieve its goals and objectives.
5. Information and Communication Technology Management
(ICTM) is the management of information and communication
technology that collects, organizes and distributes data for the
organization's decision-making functions. ICTM functions
include:
A. Developing the organization's hardware, software, and
other computing and communicating technologies,
B. Developing the organization's management information
system tailored to the needs of the firm's units; and
C. Encouraging e-commerce through Internet use
The widespread use of ICTM has brought the emergence of a
Knowledge-based economy due to easy access to information
at low costs through the Internet.
20. Knowledge society are composed of individuals or groups
of people who have acquired much information and
understanding of things due to experience, practical ability, and
easy access to information through the internet.

2. Marketing management is the process of managerial

planning and carrying out the conception, pricing, promotion,
and distribution of ideas, goods and services to bring exchanges
that satisfy individual and organizational goals.
.
3. Operations management is the study of how goods and
services are produced in organizations
5. Operations management functions of management must
include:
a) Overseeing the transformation process that changes
resources into finished goods and services