1. Applications and Best Practices Take a moment to reflect on your knowledge of human resource management prior to taking this course and what you have learned during the 10 weeks of the course. Choose one of the concepts below and explain how you plan to apply it to your current or future position: The Human Resource Management processThe legal HR environment How HR fits into the overall business level strategy of the organization?2. Two of the main topics we studied in this economics class were opportunity cost and incentives. Choose one of the two topics below and respond to the questions. The humorist, P.J. O’Rourke, said (tongue in cheek) that if we want to stop drivers from tailgating we should weld 6” steel spikes in the center of steering wheels pointing back at the driver. Why does he think this would reduce tailgating?Is his analysis based on opportunity cost or incentives? Explain. Someone once said that economics tells us that disease should not be 100% eliminated from the earth. Why would anyone think that disease should not be completely eliminated?Is this analysis based on opportunity cost or incentives? Explain3.The Nature of Human Resource Management Human Resource Management (HRM) takes a strategic approach in developing and maintaining a qualified workforce to gain a competitive advantage. The role of a Human Resource Manager in the strategic process is to focus on the specific areas that will contribute to the overall effectiveness of the organization. If you were an HR Manager, on which would you focus? Give a rationale for your choice(s). Knowledge workers — Seeking individuals who have the skillset to perform the specific functions of the jobFinancial Crisis — Ensuring the organization can meet financial obligations when the external environment (economy, laws) negatively affects the organization and prevents it from meeting forecasts for annual sales.Ethically and socially responsible to the needs of society.Work life balance for all employees.The Nature of Human Resource Management Human Resource Management (HRM) takes a strategic approach in developing and maintaining a qualified workforce to gain a competitive advantage. The role of a Human Resource Manager in the strategic process is to focus on the specific areas that will contribute to the overall effectiveness of the organization. If you were an HR Manager, on which would you focus? Give a rationale for your choice(s). Knowledge workers — Seeking individuals who have the skillset to perform the specific functions of the jobFinancial Crisis — Ensuring the organization can meet financial obligations when the external environment (economy, laws) negatively affects the organization and prevents it from meeting forecasts for annual sales.Ethically and socially responsible to the needs of society.Work life balance for all employees.