Business Management Flashcards
7 cards from real PHR practice questions. Tap to flip, then mark Knew It or Still Learning — missed cards come back until you master them.
Read the first 7 Business Management flashcards as text
Which concept describes HR's role as a contributor to organizational profitability and strategy?
Answer: Strategic business partner
As a strategic business partner, HR contributes directly to strategy and organizational results.
An organization's culture is best described as:
Answer: Shared values, beliefs, and norms guiding behavior
Organizational culture is the shared values, beliefs, and norms that shape how people behave.
Which financial statement shows a company's assets, liabilities, and equity at a point in time?
Answer: Balance sheet
The balance sheet reports assets, liabilities, and equity as of a specific date.
What does corporate social responsibility (CSR) primarily address?
Answer: Ethical, social, and environmental impact beyond profit
CSR concerns an organization's ethical, social, and environmental responsibilities beyond pure profit.
A project plan that displays tasks against a timeline using bars is called a:
Answer: Gantt chart
A Gantt chart visualizes project tasks and their durations along a timeline.
Which approach to decision-making relies on collecting and analyzing data rather than intuition alone?
Answer: Evidence-based decision-making
Evidence-based decision-making uses data and analysis to guide choices.
Outsourcing an HR function such as payroll is typically done to:
Answer: Reduce cost and focus on core activities
Organizations outsource functions like payroll to cut costs and concentrate on core work.