Ch2 HR MC

Which of the following statements is true of the strategic implementation stage of the strategic management process?

During this stage, an organization follows through on a strategy chosen in the strategy formulation stage.

Which of the following is an example of a fixed cost?

Factory rent

Which of the following is a physical resource that a company uses to compete with other companies?

Technology

Which of the following statements is true of variable costs incurred by firms?

These costs change directly with the units produced

Which is the level of integration at which the human resource management primarily engages in day-to-day activities unrelated to the company's core business needs?

administrative linkage

Which of the following is the lowest level of integration between the human resource management function and the strategic management function?

administrative linkage

A(n)_______ typically charts how a firm will create value for customers and how it will do so profitably.

business model

During the strategic implementation stage of the strategic management process, an organization

ensures that it has skilled employees in place.

_______ costs are incurred regardless of the number of units produced.

fixed

The ____ margin is calculated as the number of units sold times the contribution margin

gross

Which of the following statements is true of the administrative linkage level between the human resource management function and the strategic management function?

in this level, the human resource management department is completely divorced from any component of the strategic management process

Which of the following is true of one-way linkage?

it precludes the company from considering human resource issues while formulating the strategic plan.

A _____ workforce consists of the former workers to whom a firm still owes financial obligations.

legacy

Jonathan retired from a large, multinational automobile company last year. He receives health care benefits as well as a pension from the company. At present, Jonathan falls under the category of a ____.

legacy workforce

The one-way linkage level

often leads to strategic plans that companies cannot successfully implement.

In ____, a firm's strategic business planning function develops the strategic plan on then informs the human resource management function of the plan.

one-way linkage

____ is what is left after a firm pays its variable costs and fixed costs

profit

When an organization develops integrated manufacturing systems such as advanced manufacturing technology and just-in-time inventory control, it needs to assess the employee skills required to run these systems and train them accordingly. These assessments and train programs intended to enable an organization to achieve its goals fall under.

strategic human resource management

_____ is a process that primarily addresses the competitive challenges an organization faces.

strategic management

During _____, the strategic planning groups decide on a strategic direction by defining the company's mission and goals, its external opportunities and threats, and its internal strengths and weaknesses.

strategy formulation

Pluto Inc., a large manufacturer of desktops and laptops, has decided to enhance revenues by expanding its product line. It has identified the table market as a possible market to expand and has identified Compco Inc. as a potential competitor. Pluto Inc. is currently in the ____ stage of the strategic management process.

strategy formulation

Saturn Inc. is a large manufacturer of a footwear and accessories. It has always lagged behind its closet competitor, Hexagon Inc. It plans to overtake Hexagon by leveraging its strength in women's footwear and entering markets in the Midwest that it had traditionally ignored. Saturn Inc. is in the ____phase.

strategy formulation

The ____ component of the strategic management process consists of structuring the organization, allocating resources, ensuring that the firm has skilled employees in place, and developing reward systems that align employee behavior with the organization's strategic goals.

strategy implementation

The strategic management decision-making process usually takes place at a firm's highest levels, with a firm's strategic planning group, which includes

the chief executive officer and the president

In the two-way linkage level,

the human resources issues are allowed for consideration during the strategy formulation process.

Which of the following statements is true of two-way linkages?

the strategic planning function and the human resource management function are independent