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Terms in this set (69)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 To be maximally effective, the human resource management function of a company must be isolated from the company's strategic management process. FALSE Strategic planning groups decide on a strategic direction during the strategy implementation phase. FALSE In a two-way linkage, an organization is restricted from considering the human resource issues while formulating their strategic plan.
FALSE External analysis attempts to identify an organization's strategic opportunities and threats. TRUE Strategic choice describes the way an organization attempts to fulfill its mission and achieve its long-term goals. TRUE Job design addresses what tasks should be grouped into a particular job. TRUE Training refers to a planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees. TRUE 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 Concentration strategies require that an organization bring radical change to the current skills that exist in the organization. FALSE Companies engaged in a cost strategy require employees to have reduced concern for quantity and a short-term focus. FALSE Employees in companies with a differentiation strategy need to have only a moderate concern for quantity. TRUE Strategies emphasizing market share or operating costs are called "external growth" strategies. FALSE Downsizing gives an organization the opportunity to change its culture. TRUE A learning organization constantly monitors its environment, assimilates information, makes decision, and flexibly restructures itself to compete in an ever-changing environment. TRUE A(n) _____ typically charts how a firm will create value for customers and how it will do so profitably.
Business Model Which of the following statements is true of variable costs incurred by firms? These costs change directly with the units produced. The _____ margin is calculated as the number of units sold times the contribution margin. Gross 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 _____ is a process that primarily addresses the competitive challenges an organization faces. Strategic Management 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 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 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 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. 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 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. 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 The one-way linkage level: Often leads to strategic plans that companies cannot successfully implement. Which of the following statements is true of two-way linkages? The strategic planning function and the human resource management function are interdependent. Mission, goals, external analysis, internal analysis, and strategic choices are the five major components of the _____ process. Strategy Formulation 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 Which of the following is used by an organization to identify its strengths and weaknesses? Internal Analysis 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 _____ is the process through which an organization seeks applicants for potential employment. Recruitment Which of the following addresses what tasks should be grouped into a particular job? Job Design _____ refers to a planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees. Training Which of the following activities entails specifying those activities and outcomes that will result in the organization successfully implementing the strategy? Performance Management A high level of pay relative to that of competitors can ensure that _____. The company attracts high-quality employees. 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 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. 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 Strategies focusing on market development, product development, innovation, or joint ventures make up the _____ strategy of an organization. Internal Growth 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 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 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. 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 Strategic Human Resource Management A pattern of planned human resource deployements and activities intended to enable an organization to achieve its goals. 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.
Strategy Implementation The process of devising structures and allocating resources to enact the strategy a company has chosen. Strategic Choice The organization's strategy; the ways an organization will attempt to fulfill its mission and achieve its long-term goals. Job Design The process of defining the way work will be performed and the tasks that will be required in a given job. 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. Development The acquisition of knowledge, skills, and behaviors that improve an employees ability to meet changes in requirements and in client and customer demands. Role Behaviors Behaviors that are required of an individual in his or her role as a jobholder in a social work environment. Concentration Strategy A strategy focusing on increasing market share, reducing costs, or creating and maintaining a market niche for products and services. Downsizing The planned elimination of large numbers of personnel, designed to enhance organizational effectiveness. Goals What an organization hopes to achieve in the medium-to long-term future. External Analysis Examining the organization's operating environment to identify strategic opportunities and threats. Internal Analysis The process of examining an organizations strengths and weaknesses. Job Analysis The process of getting detailed information about jobs. Recruitment The process of seeking applicants for potential employment. Training A planned effort to facilitate the learning of job-related knowledge, skills, and behavior by employees. Performance Management The means through which managers ensure that employees' activities and outputs are congruent with the organization's goals. External Growth Strategy An emphasis on acquiring vendors and suppliers or buying businesses that allow a company to expand into new markets. Internal Growth Strategy A focus on new market and product development, innovation, and joint ventures. Sets with similar termsHR Chapter 245 terms maryclaireee2 MGMT 3241 Chapter 219 terms thawk321 HR Ch 235 terms meredithclayton HMR Chapt 234 terms Stew66 Sets found in the same folderHRM 182 terms a_boots ch298 terms abellalynn HR - Ch 2 Connect84 terms aliladd HR - Chapter 3 Connect60 terms aliladd Other sets by this creatorVirtual SLII6 terms a_boots Operations Management Ch5 (MBA)19 terms a_boots Operations Management Ch2 (MBA)29 terms a_boots 4030 Critical Concepts19 terms a_boots Other Quizlet setsMGMT 343 Exam 1 - Ch. 254 terms cathrenyoung HMGT 4860 - Business Strategies Final116 terms Abuaamer_Assewailem Principles of Management Test 2: Ch. 535 terms jessikadunn Isom 125 #219 terms Anna_Pemberton Related questionsQUESTION The use of deception, trickery or other dishonest means in order to deprive another of their money, property or other resources is known as: 7 answers QUESTION When reviewing the R = T x V for any given scenario, and examining a previous employee (T) with a (V) of interactive accounts that are not deleted, what is an effective counter measure? 4 answers QUESTION Incentive plans based on productivity can reduce labor costs 6 answers QUESTION ) Why would a small firm most likely assign key accounts to top sales executives rather than set up a separate department for key accounts? 7 answers Which of the following describes the ways an organization will attempt to fulfill its mission?(5) Strategic choice: The strategic choice is the organization's strategy. It describes the ways the organization will attempt to fulfill its mission and achieve its long-term goals.
What do you call the strategies used by the organization to achieve its goals?Strategic management is the management of an organization's resources to achieve its goals and objectives.
Are what the organization hopes to achieve in the medium to longstrategic 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. what the organization hopes to achieve in the medium- to long-term future; they reflect how the mission will be operationalized.
What is organization strategy?Strategy can be defined as “The direction an organisation takes with the aim of achieving future business success.” Strategy sets out how an organisation intends to employ its resources, including the skills and knowledge of its people as well as financial and material assets, in order to achieve its mission or overall ...
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Is the organizations strategies which describes the ways of the organization will attempts to fulfill its mission and achieve its long
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