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Terms in this set (17)
At which step in the strategic management process does a manager review the economic, competitive, and political trends that may affect the company?
Asking, "Are we in the right business?"
Amazing Industries has decided it will add two product lines, close a plant, and expand its production facilities in two locations. Amazing Industries is at what step in the strategic management process?
Executing the strategy
Excellence Enterprises promotes itself as a company that guarantees on-time delivery. Which competitive strategy is Excellence Enterprises using?
Differentiation
A company that provides a product that its customers can't get anywhere else is employing which competitive strategy?
Focuser
Flexible work arrangements that reduce commuting can help a company to reach which type of goals?
Sustainability
Toni is reviewing graphs and charts that show how the company is doing on the metrics from the HR scorecard process. Toni is using which of the following?
Digital dashboard
The HR department at Incredible, Inc. is measuring where it currently stands and determining what it needs to accomplish. This department is performing which of the following?
HR audit
Which of the following uses tools such as statistical analysis to sift through data looking for relationships?
Data mining
In terms of HR practices, which of the following is true of high-performing companies?
They use more selection tests when recruiting.
Providing more training than other companies in the industry is an example of which of the following?
A high-performance work system
In regard to automobile manufacturer Kia Motors, which of the following was a key step in creating Kia's new employee engagement strategy?
Instituting a new employee development program
Companies with engaged employees are likely to experience a(n) _______.
increase in productivity
During a downturn in the hotel industry, Chip Conley, founder of Joie de Vivre Hospitality, dealt with the situation by not taking pay himself and reducing managers' salaries, but not reducing line-level employees' pay. With regard to dealing with this issue, these decisions can be seen as a(n) ______.
strategy
Chip Conley explains that Joie de Vivre Hospitality creates an "experience" for both customers and employees, and he cites this experience as a major reason for the company's success. This ability to create an "experience" could be seen as the company's _________.
competitive advantage
It is important for Joie de Vivre Hospitality to match its internal strengths and weaknesses with external opportunities and threats in the hotel industry. This is accomplished through a(n) _______.
strategic plan
When the hotel industry was in a downturn, Chip Conley made sure that workers felt their jobs would be safe. This could be seen as the management employee engagement activity of _______.
providing support
Chip Conley discusses how he wanted to differentiate his first hotel with a funky vibe and low price that would be accessible to everyone. This describes his intended direction, which is called _______.
a vision statement
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