Q.Explain the managerial functions of HRM.

(a) HRM's operative functions are procurement, development, compensation, integration and maintenance of employees. (b) Women entrepreneurs struggle with finance, family duties, low confidence, social attitudes, limited mobility and risk-bearing.

(a) Operative Functions of HRM

1. Procurement (Employment) — obtaining the right number and kind of people through human resource planning, recruitment, selection, placement and induction.
2. Development — improving the skills, knowledge and abilities of employees through training, development and performance appraisal.
3. Compensation — determining and providing fair and adequate wages, salaries, incentives and benefits for the work done.
4. Integration — reconciling the goals of employees with those of the organisation, and maintaining good industrial relations, so both work in harmony.
5. Maintenance — protecting and promoting the physical and mental well-being of employees through health, safety, welfare and social-security measures, so that they stay with the organisation.

OR

(b) Challenges Faced by Women Entrepreneurs (any 5)

1. Shortage of finance — women often find it hard to raise capital and obtain loans, as they may lack property in their own name to offer as security.
2. Family responsibilities — the dual burden of managing home and business leaves them less time and energy for the enterprise.
3. Lack of confidence and education — limited education, skills and training reduce their self-confidence in running a business. …

(a) HRM's operative functions are procurement, development, compensation, integration and maintenance of the workforce. (b) The New Issue Market handles fresh securities and channels funds to the company; the Secondary Market handles existing securities traded among investors and provides liquidity.

This is a 5-mark Part-IV question with an internal OR choice; both alternatives are answered as required by the contract.

(a) Operative functions of HRM (from the Fundamentals of HRM chapter of the Tamil Nadu HSC Class-12 Commerce syllabus):

• Procurement (employment) function: ensuring the right number and kind of people. It includes human-resource planning, recruitment, selection, placement and induction of employees.
• Development function: improving employees' skills and knowledge through training, executive/management development, performance appraisal and career planning.
• Compensation function: rewarding employees fairly through job evaluation, wage and salary administration, incentives, bonus and fringe benefits.
• Integration function: reconciling the interests of individual employees with the goals of the organisation, through grievance handling, collective bargaining, discipline and good employee relations.
• Maintenance function: retaining efficient employees by looking after their health, safety, welfare and social-security needs (medical care, provident fund, insurance, etc.).

(b) New Issue Market vs Secondary Market (any five differences):