MBA Pla: PREPARATION MATERIAL IIM KASHIPURDear Aspirants, Congratulations on successfully clearing the CAT 2023 examination. By this time, you would be aiming for specific colleges based on your interests, To get into those colleges, personal interview preparation should be the priority. To help you upon this final hurdle of your dream journey, we present you with PI KIT 2024. This compact yet resourceful kit covers major topics in each domain of the MBA, which would come in handy in your personal interview preparation. We extend our warm hands to help you clarify doubts at any stage of the admissions process. For any admission-related queries, kindly reach out to us: Facebook: https://www.facebook,com/IMKashipurlnsite?mibextid=zLoPMf. Instagram: https://instagram.com/team insite iimksp?igshid=OGQSZDc20Dk2ZA== LinkedIn: https://www linkedin com/showease/teaminsite-iimkashipur/ To know more about life at IM Kashipur, kindly visit: Website: https://www.iimkashipur.ac.in/ Instagram: https://instagram.comviimkashipur?igshid=OGQSZDc2ODk2ZA== Warm Regards, ‘Team Insite, IIM KashipurTABLE OF CONTENTS S.NO TOPIC PAGE NO. 1 Personal Interview Preparation 3 2 Economics 6 3 Finance 12 4 Human Resources 19 5 Information Systems 26 6 Marketing 31 7 Consulting and Strategy 39 , Operations and Supply x Chain Management 9 Current Affairs SIREFERENCES 1. https://en, wikipedia org/wiki/Ansoff matrix hittps://fluxbranding.com/intro-to-brand-archetypes/ hittps://www.investopedia com/terms/m/microeconomics.asp 2 3 4, https://www. basic-concept.comy/ finan: -ounting 5. https:/Avww.investopedia.com/terms/fifinancial-statements.asp 6, https://www. britannica.com/topic/information-system 7. hittps://www.ibm.com/topics/business-intelligence##:~:text=Business%20intelligence%20 gives%20organizations%20the,chain%2C%20customers%20or%20market20trends, 8. https://www.aihr.com/blog/hr-concepts-hr-terms! 9. https://www.aihr com/blog/human-resource-basies/#:~:text=What’20are%20the%/20basi s%200f consic [420cornerstones%200f%20effective.20HRM. 10, https://www investopedia.com/ask/answers/111414/what-difference-betwee deflation.asp 11. https://www investopedia.com/ask/answers/0304 1 5/what-functional-difference-between- gdp-and- nflation-an d- gnp.asp 12. hitps.//www investopedia conv/terms/Maw-of-supply= demand.aspi#:~: nd%20holds,ones’ 1/42010%20diminishA20it 13, https://brandmasteracademy.com/what-is-brand-positioning/#:~:text=But%20unlike%20y. our%20brand%206 our%20brand%20from20the%20rest 14. https://www investopedia.com/terms/m/marketing-mix.asp 15, https:/;www.toppr.com/bytes/marketing-management-notes-basics/ 16, https://www.investopedia,com/terms/p/porter.asp. 17. https://pestleanalysis,com/what-is-pestle-analysis/ 18, https://corporatefinanceinstitute.com/resources/management/ansoff-matrix/ 19 20. https://hellonimbly.com/10-essential-decisions-in-operations-management-and-its-role-in- business/PERSONAL INTERVIEW PREPARATION The basic goal of a personal interview is for the interviewers to assess and judge the candidate on different aspects of their personality, As a result, a candidate must convey their best comprehensive perspective, both orally and nonverbally. Personal interviews can be further classified into three different types: 1, Structured Interview Structured interviews encompass a predetermined set of questions posed by the panel, This will be the format if the interview is to hire for a job with a special skill set or will be a subset of the CAT interview if you mention that you are interested in any specialization. 2. Unstructured Interview Unstructured interviews depend on the candidate and are often customized to them. This type is more of a conversational style where cues are picked up from what is already spoken and are very dynamic, Every sentence that is uttered by the candidate matters, 3. Behavioral Interview A behavioral-based interview is an interviewing technique that employers use to evaluate a candidate's past behavior in different situations to predict their future performance. It's easier to predict success based on a candidate's past experiences than on speculation, For the B-School interviews, the candidate can expect Unstructured and Behavioral types of interviews and must be prepared for them. Things To Keep in Mind Before Appearing for An Interview: + Dress Nicely: Even the basic things are noticed, so it is important that you take some time out to focus on the way you dress. Your whole-body attire matters a lot, so you should be well-groomed, and rightly dressed. Strictly avoid wearing jeans and a T-shirt. + Body Postures and Gestures: Your body speaks a lot for you, We must keep an eye on our body language. Also, there are some postures and gestures which need to be kept in mind. Greeting with a smile, sitting straight, and making good eye contact are some of the considerable aspects. + Revision of Topics: A little homework before sitting in an interview is a good practice. You must introspect and be well-versed in your area of interest, your strengths, and weaknesses.Revising the topics prepared for CAT exams might come in handy while attending the interview. One can also prepare himself by giving mock interviews before the final examination. + Good Internet Connection: In the MBA interview process if conducted online, it is advisable to have a good Wi-Fi connection and a good camera. Using the internet through the router is advisable, but kindly keep a backup internet connection as well in case of any failures. + System and Surrounding: While attending online interviews, having a good-performing laptop with camera and audio requirements is mandatory. Kindly attend the interview in an empty room such that there is no hindrance from friends or family. Also, keep your background clear. Also, keep a government ID card handy for verification, + Knowledge of Current Trends: Having a good knowledge of recent national and international issues will help to answer the questions of interviewers as sometimes they will ask scenario-based questions on how you will solve this situation. + Avoid Technical Jargon: Avoid using highly technical words that interviewers are not aware of while having a nice vocabulary leaves a good impression. + Be Positive and Keep Calm: Keep a positive attitude towards every situation. No need to panic even if you are stuck somewhere. While most of the topics are covered, it is however not possible to be perfectly aware of everything. Tackling the situation smartly and calmly gives you a plus point, Important Questions Asked for MBA Admission Given below are the top questions to prepare for the CAT Personal Interview: 1. Why MBA? 2. Tell us about your strengths and weaknesses. 3. What do you think is your best achievement? 4, Where do you see yourself in the next five years? 5. Tell us about your career goals. 6. Why do you want to specialize in marketing/finance/HR? 7, Tell us about your hobbies and interests. 8. Who is your role model? 9. What is your biggest challenge so far? 10. How do you think you will contribute to the batch and the institute if we select you?11, What expectations do you have with this MBA program? 12, Have you ever demonstrated leadership? Share the situation, 13. Which other MBA colleges have shortlisted you for final selection? Which one do you propose to choose and why Abstract Questions Abstract questions test candidates! ability to think innovatively and quickly respond to situations These questions do not come with a right or wrong answer and are just asked to check your thought process and ability to communicate effectively. Some of the examples are: . If you were a book, what genre would you be and why? . Left or right? black or white? friend or enemy? . What is the color of money? How would you explain entrepreneurship to a 5-year-old? . Do you believe in second chances? When should they be given and why? . Would you rather be best at your least preferred domain or worst at your preferred domain? . Would you instead go back in the past or travel in time to the future? . Ifyou could have one power, what would it be and why? Se ranean n What would you prefer, being able to talk to animals or converse in every language? 10, How many coins can you fit in this room? Behavioral Questions These questions test your behavior and help the interviewer judge your critical thinking skills and problem-solving styles. To answer such types of questions, the STAR (Situation, Task, Action, and Result) approach is recommended, whereby one can start answering by giving the context for the situation, the task you had to carry, and the steps you took for that and finally the outcome of that action. Some of these behavioral questions are listed below: - 1. How would you resolve a conflict in your team as a future manager? 2. Describe a time when you had to convince your team members to accept your idea, And how did you go about it? 3. Have you ever faced an ethical dilemma? How did you resolve that? Explain briefly. 4, How do you deal with criticism?5, Briefly describe a time when you had to work with limited resources. How did you achieve the targets with the constraints? 6. Do you prioritize the tasks as per deadlines? 7. Have you ever missed a deadline? When and why? 8, Share an experience where you had to adapt to a significant change. How did you cope with the change, and what did you learn from the experience? 9. Can you share an example of a leadership role you took on? What strategies did you use to motivate and guide your team toward a successfull outcome? 10. Describe a situation where you faced a challenge while working on a team project. How did you handle it, and what did you learn from the experience? 11, Discuss an accomplishment you are proud of. What challenges did you overcome, and how did this achievement contribute to your personal growth? 12, Share an experience where you had to delegate tasks to others. How did you ensure effective communication and collaboration within the team? 13. Can you provide an example of a time when you had to navigate a cultural or language barrier? How did you ensure effective communication and understanding in such a situation? 14, Share an experience where you had to work with someone with a different perspective or background, How did you navigate the differences, and what did you learn from the collaboration? 15. Discuss a time when you had to decide with incomplete information, How did you approach the situation, and what factors did you consider in making your decision?ECONOMICS The social science of economics examines how goods and services are produced, distributed, and consumed, It examines the distribution of resources among people, organizations, governments, and societies to meet their needs and desires. Microeconomics and macroeconomics are the two main branches that make up the field of economics. Microeconomics Microeconomics focuses on the choices made by individual consumers as well as businesses concerning the fluctuating cost of goods and services in an economy. Microeconomics covers several aspects, such as — 1. Supply and demand for goods in different marketplaces. 2. Consumer behavior, as an individual or as a group. 3, Demand for service and labor, including individual labor markets, demand, and determinants like the wage of an employee One of the main features of microeconomics is that it focuses on casual situations when a marketplace experiences certain changes in the existing conditions. It takes a bottom-up approach to analyze the economy, Different Components of Microeconomics ‘The different components of microeconomics include: 1. Market demand and supply (For example, Textile) 2. Consumer Behavior (for example, Consumer Choice Theory) 3, Producers are driven by individual preferences. 4, Market-specific labor markets (for example, demand labor wage determination in specific markets). Basic Concepts of Microeconomics: The study of microeconomics involves several key concepts, including (but not limited to): Incentives and beha : How people, as individuals or in firms, react to the situations with which they are confronted.Utility theory: Consumers will choose to purchase and consume a combination of goods that will maximize their happiness, or “utility,” subject to the constraint of how much income they have available to spend. Production theory: This is the study of production—or the process of converting inputs into outputs Producers seek to choose the combination of inputs and methods of combining them that will minimize costs to maximize their profits. Price theory: Utility and production theory interact to produce the theory of supply and demand, which determine prices in a competitive market. In a perfectly competitive market, it is concluded that the price demanded by consumers is the same as that supplied by producers. That results in economic equilibrium. Macroeconomics Macroeconomics studies the economic progress and steps taken by a nation, It also includes the study of policies and other influencing factors that affect the economy as a whole. Macroeconomics is a branch of economics that studies how an overall economy—the markets, businesses, consumers, and governments—behaves. Macroeconomics examines economy-wide phenomena such as inflation, price levels, rate of economic growth, national income, gross domestic product (GDP), and changes in unemployment. Macroeconomics follows a top-down approach and involves strategies like — 1.The overall economic growth of a country. 2, Reasons that are likely to influence unemployment and inflation. 3. Fiscal policies are likely to influence factors like interest rates. 4, Effects of globalization and international trade. 5, Reasons that affect varying economic growth among countries. Another feature of macroeconomics is that it focuses on aggregated growth and its economic correlation. Different Components of Macroeconomies The different components of macroeconomics include: 1. National Output 2. Unemployment 3, InflationThe law of demand holds that demand for a product changes inversely with its price, all else being Law of Demand equal. In other words, the higher the price, the lower the level of demand. Because buyers have finite resources, their spending on a given product or commodity is limited as well, so higher prices reduce the quantity demanded. Conversely, demand rises as the product becomes more affordable. As a result, demand curves slope downward from left to right, as shown in the chart below. Changes in demand levels as a function of a product's price relative to buyers' income or resources are known as the income effect. Law of Supply The law of supply relates price changes for a product to the quantity supplied, In contrast with the law of demand, the law of supply relationship is direct, not inverse. The higher the price, the higher the quantity supplied. Lower prices mean reduced supply; all else is held equal. Higher prices give suppliers an incentive to supply more of the product or commodity, assuming their costs aren't increasing as much. Lower prices result in a cost squeeze that curbs supply. As a result, supply slopes are upwardly sloping from left to right. Equilibrium Price Also called a market-clearing price, the equilibrium price is the price at which demand matches supply, producing a market equilibrium acceptable to buyers and sellers. Price ig Quantity,Indifference Curve: The indifference curve is a curve that represents all combinations of market baskets that provide a consumer with the same level of utility Perfect substitutes: Perfect substitutes refer to identical products, and a consumer is, therefore, indifferent between them. Perfect substitutes have linear indifference curves. Perfect complements: Perfect complements refer to goods that can't be consumed without each other Perfect complements’ indifference curves are right-angled, Price ceilings: Price ceilings prevent a price from rising above a certain level. When a price ceiling is set below the equilibrium price, the quantity demanded will exceed the quantity supplied, and excess demand or shortages will result. Price floors: Price floors prevent a price from falling below a certain level. When a price floor is set above the equilibrium price, the quantity supplied will exceed the quantity demanded, and excess supply or surpluses will result Price Control: When government laws regulate prices instead of letting market forces determine prices, it is known as price control. Sunk Cost: A sunk cost is money that has already been spent and cannot be recovered. A sunk cost differs from future costs that a business may face, such as decisions about inventory purchase costs or product pricing. Sunk costs are excluded from future business decisions because they will remain the same regardless of the outcome of a decision, A manufacturing firm, for example, may have a number of sunk costs, such as the cost of machinery and equipment and the lease expense of the factory. Sunk costs are excluded from a sell-or-process-further decision, which is a concept that applies to products that can be sold as they are or can be processed further. Opportunity Cost: Opportunity cost is a strictly internal measure used for strategic planning; it is not included in accounting profit or reflected in external financial reporting. Opportunity cost analysis can play a crucial role in determining a company's capital structure, A business incurs an explicit cost in taking on debt or issuing equity because it must compensate its lenders or shareholders. And each option also carries an opportunity cost. Gross Domestic Product (GDP) Gross domestic product is the most basic indicator to measure the overall health and size of a country's economy. This metric counts the overall market value of the goods and services produced domestically by a country. GDP is an important figure because it gives an idea of whether the economy is growing or contracting.Calculating GDP includes adding together private consumption or consumer spending, government spending, capital spending by businesses, and net exports—exports minus imports. Gross National Product (GNP) Gross national product is another metric used to measure a country's economic output, Where GDP looks at the value of goods and services produced within a country's borders, GNP is the market value of goods and services produced by all citizens of a country—both domestically and abroad. Net Domestic Product (NDP) Net Domestic Product (NDP) is the monetary value of all goods and services produced within a country's borders, minus depreciation, over a specific time period. Depreciation refers to the wear and tear occurring in the process of production. NDP = GDP - Depreciation Net National Product (NNP) Net National Product (NNP) is the total monetary value of goods and services produced by a country's residents, including income from abroad, minus depreciation, over a specific time period. NNP = GNP - Depreciation Inflation Inflation is a quantitative measure of how quickly the prices of goods in an economy are increasing. Inflation occurs when goods and services are in high demand, thus creating a drop in availability (supply) and a consequential raising of prices. It's sometimes referred to as spending too much on a few goods. Hyperinflation Inflation is often seen as a big threat, mostly by people who came of age during the late 1970s, when inflation ran wild, So-called hyperinflations occur when the increase in monthly prices exceeds 50% over some period of time, These periods of rapid price increases are often accompanied by a breakdown in the underlying real economy. There may also be a sudden increase in the money supply. Deflation Deflation occurs when too many goods are available or when there is not enough money circulating to purchase those goods. As a result, the price of goods and services drops. Companies that find themselves stuck with too much inventory must cut costs, which often leads to layoffs. Unemployed individuals do not have enough money available to purchase items.Economies of Scale Economies of scale refer to the cost advantages that a business can achieve as a result of an increase in its level of production. In other words, as a firm produces more units of a good or service, the average cost per unit decreases. Diseconomies of Scale Diseconomies of scale occur when a firm experiences an increase in average costs as production levels expand beyond a certain point. In other words, the per-unit cost begins to rise as the scale of production becomes too large Average Cost Questions ‘What is the difference between microeconomics and macroeconomics? . GST — success or failure? . What is the law of demand and the law of supply? . Explain the price ceiling and price floor. 1. 2. 3. 4, 5, Impact of opportunity cost in microeconomics? 6. How is GDP calculated? 7. What are inflation and deflation? 8. Keynesian theory 9. Economic forecasts of different countries? 10, What are the essential features of liberalization, privatization, and globalization? 11, What do you mean by normal goods? 12. Your opinion on the public policies of IndiaFINANCE Finance is a broad term associated with managing money and acquiring needed funds, including budgeting, forecasting, lending, saving, investing, and borrowing. Financial concepts and principles, such as the time value of money and intrinsic value, are based on microeconomic and macroeconomic theory. The finance industry consists of three sub-categories: 1.Personal finance involves financial planning for individuals. This can include long-term financial management plans, such as retirement, the purchase of financial products, such as mortgages, and banking. 2. Corporate finance involves the financial activities of running an organization, which can include investment strategy and budgeting. 3.Public (government) finance includes taxes, spending, budgeting, and other policies that relate to how the government allocates resources. Accounting Accounting is identifying, recording, and communicating an organization’s economic results. A vital function for any business, accounting measures business activities, processes the information into reports and communicates the results to decision-makers, 1. Financial accounting includes the generation of financial statements that typically involve a balance sheet, income statement, and cash flow statement. This information is used by external decision-makers, such as investors, creditors, and taxing authorities, 2. Managerial accounting often involves the same data as financial accounting, but it is used by internal stakeholders to make decisions on business operations. This can also include forecasting, budgeting, and other financial analysis tools. 3. Cost accounting involves determining the cost associated with producing a product and helps businesses decide if they should produce the product and what the product should cost, Basic Accounting Equation The basic accounting equation portrays two particulars of a company: its owners and its ownings This equation is the basis of the double-entry accounting concept. The equation mentioned is as follows: Assets = Liabilities + Owner’s EquityThis equation shows that you can get assets by adding the liabilities and owner’s equity, which is meaningful because companies acquire assets by using funds, and liabilities and owner's equity are the sources of this funding, Components of the Basic Accounting Equation Assets The resource controlled or owned by the business for future use or benefit is called an asset. Assets can be tangible, such as cash, or intangible, such as goodwill, etc. Receivables are another type of common asset that implies a promise that a payment will be made from a party to whom a service has been provided or a product has been sold on credit Some common types of assets are mentioned below: 1. Current Assets 2. Fixed Assets 3. Theor Liabilities 1 or Intangible Assets Liabilities refer to the amount of money owed to another institution, company, or person. Payable is the most common form of liability, which is the exact opposite of receivable. It is a promise to pay the other party from whom a service is received or an asset is obtained on credit. Ovner’s Equity The part of the company’s assets owned by the owners, partners, or stockholders refers to the owner’s equity. Owners can expand their share by investing money in the company or reduce their equity by quitting funds of the business. Similarly, revenues expand equity and expenses reduce equity. Equity accounts consist of the following common items: 1, Owner's Capital 2. Owner's Withdrawing 3. Unearned Income 4, Officer's Loan 5. Paid-in Capital 6. Common stock 7. Preferred stock ‘Types Of Financial Statements The financial statements are used by investors, market analysts, and creditors to evaluate a company's financial health and earnings potential.The three major financial statement reports are the balance sheet, income statement, and statement of cash flows. Balance Sheet The balance sheet provides an overview of a company's assets, liabilities, and shareholders' equity as a snapshot in time, The balance sheet is broken into three categories and summarizes the company's assets, liabilities, and shareholders’ equity on a specific date, Example Corporation ‘alan She Propany. pant &equomen at Income Statement crane The income statement provides a summary of a company's revenues, expenses, and profits (or losses) during a given period, such as a quarter or a year. It is divided into several sections: Revenue (Sale: represents the "top line” of the income statement. : This is the total amount of money generated from the sale of goods or services. It Cost of Goods Sold (COGS): This section includes the direct costs associated with the production of goods or services sold by the company. It includes costs such as raw materials, labor, and manufacturing overhead. Gross Profit: Gross profit is calculated by subtracting the cost of goods sold from the revenue. It represents the profit generated from the core operations of the business.Operating Expenses: These are the ongoing costs of running the business that are not directly tied to the production of goods or services. Operating expenses include items such as salaries, rent, utilities, marketing, and administrative ‘penses. Operating Income: Operating income is derived by subtracting operating expenses from the gross profit. It represents the profit or loss generated from the company's normal business operations This Other Income and Expens section includes any additional sources of income or expenses that are not directly related to the core business operations. It may include interest income, interest expenses, gains or losses from investments, and other non-operating items. Net Income (Profit or Loss): Net income is the final line on the income statement and represents the total profit or loss after considering all revenues, expenses, and taxes. It is often referred to as the "bottom line." Cash Flow Statement The cash flow statement is another crucial financial statement that provides information about how cash and cash equivalents move in and out of a business over a specific period. It is divided into three main sections: Operating Acti jes: This section reports the cash generated or used in the company's core operating activities, such as selling goods or services. Investing Activities: This section details cash transactions for the purchase and sale of long-term assets and investments. Financing Activities: Financing activities involve transactions with the company's owners and creditors. Common financing activities include the issuance or repurchase of stock, the payment of dividends, borrowing, and the repayment of debt. The cash flow statement is structured in such a way that the net cash flows from each of these three activities are reported, and the total change in cash and cash equivalents for the period is calculated The beginning cash balance plus the net cash flows equal the ending cash balance. Positive cash flow indicates that a company is generating more cash than it is using, while negative cash flow suggests that more cash is going out than coming in. Financial Market Financial Markets include any place or system that provides buyers and sellers with the means to trade financial instruments, including bonds, equities, various international currencies, and derivatives. Financial markets facilitate the interaction between those who need capital and those who have capital to invest.Some common classifications of financial markets: 1 Primary and Secondary Markets 2, Money Market and Capital Market 3. Equity Market and Debt Market |. Derivatives Market . Forex (Foreign Exchange) Market Commodity Market Spot Market and Futures Market . Organized Exchanges and Over-the-Counter (OTC) Markets a are Mutual Fund A mutual fund is an investment vehicle made up of a pool of money collected from many investors to invest in securities such as stocks, bonds, money market instruments, and other assets. Financial Instruments Financial market instruments are tradable assets that represent a claim to future cash flows, ownership, or contractual rights, These instruments are bought and sold in financial markets, providing investors with a way to invest, trade, and manage risk. Here are some common types of financial market instruments: Equity Instruments Stocks (equity shares): represent ownership in a company. Shareholders are entitled to a portion of the company's profits and may have voting rights at shareholder meetings. Debt Instruments Bonds: Debt securities that represent loans made by investors to governments, municipalities, or corporations. Bondholders receive periodic interest payments and the return of principal at maturity. Treasury Bills (T-Bills): Short-term government debt securities with maturities of one year or less. T- Bills are typically sold at a discount and do not pay periodic interest. Money Market Instruments Commercial Paper: Short-term, unsecured debt issued by corporations to meet short-term funding needs, Certificates of Deposit (CDs): Time deposits with fixed terms offered by banks. Investors receive interest upon maturity.Options: Contracts that give the holder the right (but not the obligation) to buy or sell an underlying Derivative Instruments asset at a predetermined price within a specified timeframe. Futures Contracts: Agreements to buy or sell an asset at a future date and a predetermined price. Foreign Exchange Instruments Spot Contracts: Immediate exchange of one currency for another at the prevailing exchange rate. Currency Futures and Options: Derivative contracts based on the future exchange rates between currencies. Market Risk Premium The market risk premium is the excess return that investors require for choosing to purchase stocks over “risk-free” securities. It is calculated as the average return on the market (normally the S&P 500, typically around 10-12%) minus the risk-free rate (current yield on a 10-year Treasury). Questions: . What are the components of an accounting equation? . What do you know about the Silicon Valley Bank issue? . What is purchasing power parity? Difference between cost, financial, and management accounting? Difference between operating leverage and financial leverage? . Difference between the balance sheet of the company and a bank? . Difference between depreciation and amortization? . What are various activities taken into account in the cash flow statement? Explain. weer aweawene . What are the different types of financial markets? Which will you prefer if you are opening a company and state your assumptions. 10. What do you know about FOREX and how it works? 11. Can you elaborate on various types of financial instruments? 12, Mutual funds are good or bad?HUMAN RESOURCES Human resource management (HRM) is the practice of recruiting, hiring, deploying, and managing an organization's employees. A company’s HR department is usually responsible for creating, putting into effect, and overseeing policies governing workers and the relationship of the organization with its employees. The purpose of HRM practices is to manage the people within a workplace to achieve the organization's mission and reinforce the corporate culture. HR professionals also aid in the training and professional development of employees to meet the organization's objectives. When the HR parts are greater oo than the whole Objectives of Human Resource Management HRM can be broken down into the following four categories of objectives: Societal Objectives, These are measures put in place to respond to the ethical and social needs or challenges of the company and its employees. This includes legal issues such as equal opportunity and equal pay for equal work. Organizational Objectives. These are actions taken to ensure organizational efficiency, including providing the appropriate training, hiring the right number of employees for a given task, and maintaining high employee retention rates.Functional Objectives. These are the guidelines used to keep HR functioning properly within the organization. They include ensuring all HR resources are allocated to their full potential. Personal Objectives. These are the resources used to support the personal goals of each employee They include opportunities for education and career development, as well as maintaining employee satisfaction. HR Analytics HR analytics, sometimes known as "people analytics," is a data-driven strategy. The use of HR analytics enables us to evaluate if and how HR operations contribute to the overall success of the firm. Nature of HR Management Management by Objectives (MBO) Management by Objectives (MBO) is an approach adopted by managers to control their employees by implementing a series of concrete goals that both the employee and the organization aim to accomplish in the immediate future and work accordingly to achieve. The MBO approach is implemented to ensure that the employees get a clear understanding of their roles and responsibilities, along with expectations, so that they can understand the relation of their activities to the overall success of the organization. Corporate Performance Management (CPM) It refers to a tool used by corporations to formulate organizational strategies through prescribed methodologies, data analysis, processing, and reporting to monitor and manage the performance of an enterprise. Information used in the creation of CPM metrics originates from books of accounts such as cash flow statements, balance sheets, and income statements.