HRM 2

Internal Growth Strategy

A focus on new market and product development, innovation, and joint ventures.

Strategic Human Resource Management

A pattern of planned human resource deployements and activities intended to enable an organization to achieve its goals.

Training

A planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees.

Concentration Strategy

A strategy focusing on increasing market share, reducing costs, or creating and maintaining a market niche for products and services.

External Growth Strategy

An emphasis on acquiring vendors and suppliers or buying businesses that allow a company to expand into new markets.

Role Behaviors

Behaviors that are required of an individual in his or her role as a jobholder in a social work environment.

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

Business Model

With a(n) _____ strategy, a company attempts to focus on what it does best within its established markets and can be thought of as "sticking to its knitting."

Concentration

A company that wants to become the lowest cost producer in an industry should _____.

Construct efficient large-scale facilities

CompX Inc. is an online retailer of electronic products including laptops and tablets. 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 CompX using?

Differentiation

Tokyo Electronics is facing financial difficulties mainly due to losses incurred by its gaming division. As a consequence, it has decided to shut down operations of this division. Which of the following strategies has Tokyo electronics adopted?

Divestment Strategy

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

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

External Analysis

Examining the organization's operating environment to identify strategic opportunities and threats.

Which type of strategy attempts to expand a company's resources or to strengthen its market position through acquiring or creating new businesses?

External Growth Strategy

Companies engaged in a cost strategy require employees to have reduced concern for quantity and a short-term focus.

FALSE

Concentration strategies require that an organization bring radical change to the current skills that exist in the organization.

FALSE

Executives who have extensive knowledge of the behaviors that lead to effective performance tend to focus on evaluating the objective performance results of their subordinate managers.

FALSE

In a two-way linkage, an organization is restricted from considering the human resource issues while formulating their strategic plan.

FALSE

Strategic planning groups decide on a strategic direction during the strategy implementation phase.

FALSE

Strategies emphasizing market share or operating costs are called "external growth" strategies.

FALSE

To be maximally effective, the human resource management function of a company must be isolated from the company's strategic management process.

FALSE

An organization's _____ is what it hopes to achieve in the medium- to long-term future, and it reflects how an organization's reason for being is operationalized.

Goal

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 statements is true of intended and emergent strategies?

Intended strategies are the result of the rational decision-making process used by top managers as they develop a strategic plan.

Which of the following is used by an organization to identify its strengths and weaknesses?

Internal Analysis

Strategies focusing on market development, product development, innovation, or joint ventures make up the _____ strategy of an organization.

Internal Growth

Which of the following addresses what tasks should be grouped into a particular job?

Job Design

A company where employees are in a constant state of assimilating knowledge through monitoring the environment, making decisions, and flexibly restructuring the company to compete in that environment is known as a(n) _____ organization.

Learning

A _____ workforce describes 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 and then informs the Human Resource Management function of the plan.

One-way linkage

Which of the following activities entails specifying those activities and outcomes that will result in the organization successfully implementing the strategy?

Performance Management

_____ is the process through which an organization seeks applicants for potential employment.

Recruitment

External analysis and internal analysis combined constitute the _____.

SWOT Analysis

Which of the following describes the ways an organization will attempt to fulfill its mission and achieve its long-term goals?

Strategic Choice

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 training 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

Mission, goals, external analysis, internal analysis, and strategic choices are the five major components of the _____ process.

Strategy Formulation

Saturn Inc. is a large manufacturer of footwear and accessories. It has always lagged behind its closest competitor Hexagon Inc. It plans to overtake Hexagon by leveraging its strength in women's footwear and entering markets in the Mid-West that it had traditionally ignored. Saturn Inc. is in the _____ phase.

Strategy Formulation

A learning organization constantly monitors its environment, assimilates information, makes decision, and flexibly restructures itself to compete in an ever-changing environment.

TRUE

Downsizing gives an organization the opportunity to change its culture.

TRUE

Employees in companies with a differentiation strategy need to have only a moderate concern for quantity.

TRUE

External analysis attempts to identify an organization's strategic opportunities and threats.

TRUE

Job design addresses what tasks should be grouped into a particular job.

TRUE

Strategic choice describes the way an organization attempts to fulfill its mission and achieve its long-term goals.

TRUE

The goal of strategic management in an organization is to deploy and allocate resources in a way that it provides the company with a competitive advantage.

TRUE

Training refers to a planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees.

TRUE

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

The strategic planning function and the human resource management function are interdependent.

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

These costs change directly with the units produced.

Which of the following statements is true for companies that employ cost strategies?

They are very specific in the skills they require from their employees.

Which of the following statements is true of companies that employ differentiation strategies?

They want their employees to take a balanced approach to process and results.

_____ refers to a planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees.

Training

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 & The President

Strategic Choice

The organization's strategy; the ways an organization will attempt to fulfill its mission and achieve its long-term goals.

Downsizing

The planned elimination of large numbers of personnel, designed to enhance organizational effectiveness.

Selection

The process by which an organization attempts to identify applicants with the necessary knowledge, skills, abilities, and other characteristics that will help it achieve its goals.

Internal Analysis

The process of examining an organizations strengths and weaknesses.

A high level of pay relative to that of competitors can ensure that _____.

The company attracts high-quality employees.

Strategy Formulation

The process of deciding on a strategic direction by defining a company's mission and goals, its external opportunities and threats, and its internal strengths and weaknesses.

Job Design

The process of defining the way work will be performed and the tasks that will be required in a given job.

Strategy Implementation

The process of devising structures and allocating resources to enact the strategy a company has chosen.

Job Analysis

The process of getting detailed information about jobs.

Recruitment

The process of seeking applicants for potential employment.

Goals

What an organization hopes to achieve in the medium-to long-term future.

Development

The acquisition of knowledge, skills, and behaviors that improve an employees ability to meet changes in requirements and in client and customer demands.

Performance Management

The means through which managers ensure that employees' activities and outputs are congruent with the organization's goals.