Chapter 1 &2 Exam
You have been hired by senior management at the Proton Corporation to advise them on how to pursue a corporate strategy that will enable the company to differentiate its products and services from its competitors. When meeting with management, what would you say to them?
Companies achieve above-average returns if they succeed in their differentiation strategy.
Which of the following acts sets strict rules for businesses, especially for accounting practices that require more open and consistent disclosure of financial data and CEOs' assurance that the data is completely accurate?
Sarbanes Oxley Act
The _________blank imposes criminal penalties for corporate governing and accounting lapses.
Sarbanes—Oxley Act
With technology constantly changing and employers attempting to keep talented employees away from their competition, which legal issue may be on the rise in the United States?
Security of intellectual property will receive more attention.
Which of the following is an important change that is projected in the demographics and diversity of the workforce?
The average age of the workforce will increase
Which of the following is one of the four characteristics of an ethical, successful company?
The company emphasizes mutual benefits in its relationship with customers, clients, and vendors.
Which of the following is a core value of TQM?
The company promotes cooperation with vendors and customers to hold down costs.
Which of the following is true of one-way linkage?
This level often leads to strategic plans that the company cannot successfully implement.
Untapped labor pools are an example of
a strategic opportunity for an organization's operating environment.
Traditionally, the human relations management (HRM) department was primarily a(n)
administrative expert
Linda Chu, an applicant for the HR rotational program at the CMX Corporation, has extensive previous work experience using business and HR analytics to drive improvements in organizational performance and results. Linda appears to possess a high level of which HR competency?
business acumen
The Dream Corporation, an exercise and fitness company, believes that customers today will prefer to work out at home. Therefore, it will produce exercise equipment and online-based exercise classes so that people won't need to go to a health club. This is an example of a(n)
business model
The basic premise behind strategy implementation is that
choice of organizational processes and structural forms makes an economic difference.
Pay structure and benefits are a part of the _________blank function of HR.
compensation
In Your Eyes Incorporated, a high-end eyewear manufacturer, has training programs to ensure that its current employees always design and manufacture eyewear in keeping with its high quality standards. Which of the following directional strategies has In Your Eyes adopted?
concentration
Tinory Incorporated supplies widgets to specific tools used by mechanical engineers. There was talk of expanding its product line, but the company has chosen to focus on creating the best widgets possible for its market. Tinory also is ensuring that all employees maintain the requisite skills to develop and create these widgets. The company is using a(n) _________blank strategy.
concentration
An HR dashboard is a series of indicators that
enables workforce analytics and evidence-based HR.
From a training perspective, HR practices for supporting workforce diversity include
ensuring that training enables workers to learn about the damaging effects of stereotyping.
Which competency is an HR professional said to have if he is able to act personally and professionally with integrity and accountability?
ethical practice
The HR Department at the Empire Corporation spends a lot of time and resources on collecting, analyzing, and evaluating data to demonstrate that HR practices have a positive influence on the company's bottom line or key stakeholders. This is an example of
evidence-based HR.
Cakes Galore, a new bakery in town, is attempting to maximize profits but knows the company cannot charge too much for its cakes and pastries in this market. As the company explores locations, the owner notes rent, property taxes, and parking. These are examples of _________blank costs.
fixed costs
When an HR professional is evaluated on how well she embraces inclusion and how effectively she works with diverse populations, she is being evaluated on her competency in
global and cultural effectiveness
The _________blank margin is calculated as the number of units sold times the contribution margin.
gross margin
he Octagon Corporation, an electric vehicle manufacturer, recently conducted a review of its operations and performance to determine where it has been performing well and where it needs to improve in the future. This is an example of a(n
internal analysis
A start-up manufacturing company is planning to hire new resources. As a first step, it has identified the various tasks that will be needed to be performed to manufacture the products. It then defines the way that work will be performed and groups the tasks into various jobs. This scenario describes
job design
Many companies today are having to redo their personnel policies to address the issue of social networking. This is due to a fear of
lower productivity
Sampson Lighting was struggling to make a quality product and meet its payroll. The costs for labor were too high. They visited several countries and then decided to move the production side of the business. This is called
offshoring
The one-way linkage level
often leads to strategic plans that companies cannot successfully implement.
Watrous & Sons has completed its strategic business plan and informed HR of how many employees it will now need to be hired or retrained. This is an example of
one way linkeage
At least annually, companies evaluate employees based on their activities and outcomes aligned with the organization's objectives. This then leads to discussions of future individual goals and professional development opportunities. This practice demonstrates that a company has a practice of
performance management
Javier, an HR manager at a technology firm, is entrusted with the task of hiring a member for a new team. He has already received information about what the new role will entail as well as the tasks that the new employee will be performing. He is currently using several media to seek applicants for the role. Which of the following human resource management (HRM) practices is Javier performing?
recruitment
Talkin & Company is a large manufacturer of pocketbooks and accessories. It has always lagged behind its closest competitor, SwagBag. It plans to overtake SwagBag by leveraging its strength in women's purses and entering markets in the Midwest that it had traditionally ignored. Talkin & Company is in the _________blank phase.
strategic formulation
Senior management at the QTX Corporation, a major publishing company, has been focusing its efforts on structuring the organization, allocating appropriate resources, ensuring that the firm has skilled employees in place, and developing reward systems that align employee behavior with the organization's strategic goals. The company in this situation is addressing which phase of the strategic management process?
strategic implementation
Strategic planning groups decide on a strategic direction during the _________blank phase.
strategy implementation
COMPX, a major computer hardware manufacturer, has been working to update its strategic plan so that it reflects an emphasis on achieving superior results in terms of the "triple bottom line" of economic, social, and environmental benefits. In doing so, the COMPX business is seen as
sustainable
How does employees' use of mobile devices offer an advantage to companies?
Employees have access to work information at any time or location
Senior management at a software development firm met with its vice president of HR to discuss the implementation of the company's differentiation strategy for its products and services. They asked the vice president of HR what their department could do to support the company's strategy. Based on this situation, what should the vice president of HR recommend to management?
Hire people who are highly creative and cooperative.
Which of the following is true of a balanced scorecard?
It depicts a company from the perspective of internal and external customers
Senior management at the TXM Corporation, a computer software developer, met for its quarterly cabinet meeting. In reviewing the company's performance, management concluded that the company failed to meet its objectives for sustainability. Which of the following is the most likely underlying cause of the company's failure?
The company is unable to meet its business needs without sacrificing the ability of future generations to meet theirs.
Which of the following statements is true about the composition of the U.S. labor force in the next decade?
The median age of the labor force will increase to the highest number ever.
Companies attempting to integrate vertically or horizontally or to diversify exhibit a(n) _________blank strategy.
external growth
The Concord Corporation, a food and beverage conglomerate, are facing severe staffing shortages for many positions in the company. HR leaders at the company are desperately trying to formulate a recruiting strategy to effectively attract high-quality job applicants. According to emerging changes in the employment relationship, which of the following benefits should the company NOT emphasize as something it can offer to employees?
job security
refers to the systematic planned strategic effort by a company to use bundles of human relations management (HRM) practices to attract, retain, develop, and motivate highly skilled employees and managers.
talent management
Buttons Incorporated is evaluating its resources so that it can compete with other companies. They have evaluated their plant, equipment, and geographic location. What other physical resource do they need to evaluate to complete this scan?
technology
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.
VUCA is
Volatile, Uncertainty, Complexity and Ambiguity
Jodannis Incorporated is an online retailer of home and garden products, including furniture and accessories. The company is known for its unique approach to customer support, which is known for going above and beyond in satisfying customer complaints and issues. What kind of a strategy is Jodannis using?
differentiation
Sandra retired from a large, multinational paper company last year. She receives health care benefits as well as a pension from the company. At present, Sandra falls under the category of a
legacy workforce
The Washington Corporation, a traditional auto parts manufacturer with a current workforce of more than 70,000 employees, has a retired workforce of over 50,000 employees to which it must continue to pay generous retirement benefits. This has put the company at a severe competitive disadvantage against other companies that do not have this obligation. The retired individuals for this company are an example of a _________blank workforce.
legacy workforce
The training and development function of an HR department includes
orientation