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Terms in this set (98)A business model is a story of how a company will create value for __________ while making a profit. customers Which of the following labor-related factors made General Motors uncompetitive? (Select all that apply.) the
cost of its legacy workforce Which of the following are integrated when an organization formulates a strategic plan? (Select all that apply.) policies The pattern of planned human resource deployments and activities that are intended to enable an organization to achieve its goals is known as ______. strategic human resource management In order to gain the greatest effectiveness, a company's HRM function needs to be integrally involved in the company's _____ management process. strategic The strategic management process includes which of the following components? (Select all that apply.) strategy
formulation Match the following basic accounting concepts that are important in understanding a company's business (on the left) with their appropriate definitions (on the right). Fixed costs - Costs that are incurred regardless of the number of units produced Which of the following activities would most likely take place during the strategy formulation process? (Select all that apply.) defining a company's external opportunities and threats The former workers who no longer work for a company but to whom the company still owes pensions and other financial obligations are referred to as the company's _______ workforce. legacy Which of the following are part of the strategy implementation process? (Select all that apply.) allocating resources When an organization seeks to address the competitive challenges it faces, it engages in a process known as ______. strategic management Which of the following are strategic issues that a company must consider when deciding how to achieve its mission and goals in a competitive environment? (Select all that apply.) where to compete Which of the following should be evaluated as part of strategic human resource management? (Select all that apply.) employee selection The phases of a strategic management plan are ______. distinct yet interdependent In practice, which of the following are typical ways in which HRM can influence the strategic management process? (Select all that apply.) by limiting strategic options As part of the ______ formulation process, a company determines the company's mission and goals, as well as its external threats, external opportunities, internal strengths, and internal weaknesses. strategy Which are types of linkages that exist between the HRM function and the strategic management function in an organization? (Select all that apply.) two-way strategy _____ is the process of devising the structure and allocating the resources to enact a company's chosen strategy. implementation Which strategic decision is a company addressing when it decides to compete on reliability instead of cost and delivery? how to compete The pattern of planned human resource deployments and activities that are intended to enable an organization to achieve its goals is known as ______. strategic human resource management True or false: The best strategic issue through which HRM can influence the strategic management process is that of "where to compete." false The strategic management decision-making process typically originates with which group in an organization? top executives Which of the following are part of the strategy implementation process? (Select all that apply.) structuring the organization At the ______ level of integration, the HRM department has no influence on a company's strategic business planning function. administrative When a firm's strategic business planners develop the strategic plan before revealing it to the HRM department, there exists a(n) ______ linkage. one-way When using two-way linkage, the strategic planning team informs the HRM function of the strategies under consideration ________ they are implemented. (Remember to type only one word in the blank.) before Which of the following are accurate descriptions of integrative linkage? (Select all that apply.) It's based on continuous interaction. True or false: The organization's mission is relevant to strategy formulation. true Which of the following are major components of the strategic management process that help guide strategy formulation? (Select all that apply.) performing an internal analysis At which level of integration is the attention of the HRM function focused solely on the day-to-day activities of a firm? administrative The danger of one-way linkage is that the resulting strategic plans cannot be successfully _____ implemented The two-way linkage between the HRM function and the strategic management function includes which three of the following steps? (Select all that apply.) - The HRM executive develops programs to implement the strategic plan. True or false: One feature of firms with integrative linkage is that the HRM function of these firms relies on an iterative process of information exchange. false While profit-making companies set various goals, their overarching goal is most often to maximize ______. stockholder wealth When an organization examines its operating environment to identify strategic opportunities and threats, it conducts a(n) _____ analysis external When using two-way linkage, the strategic planning team informs the HRM function of the strategies under consideration _____ they are implemented. (Remember to type only one word in the blank.) before When an organization sets goals, it defines how its mission will be ______. operationalized Which of the following would be considered during an internal analysis? (Select all that apply.) available financial resources Which of the following are major components of the strategic management process that help guide strategy formulation? (Select all that apply.) drafting a mission statement Which of the following are examples of opportunities or threats that might be identified in an external analysis? (Select all that apply.) pending legislation When an organization tries to formally identify its strengths and weaknesses, it conducts a(n) ______ analysis. internal Which of the following are important for establishing a company's strategy foundation? (Select all that apply.) individuals must possess critical skills The HRM function supports an organization's strategic plan in which of the following ways? - by creating systems of control that motivate employees to achieve specified goals The statement, "a complex set of values, beliefs, assumptions, and symbols that define the way in which a firm conducts its business," refers to which of the following? organizational culture Once a strategic planning team has developed and analyzed its strategic alternatives, the strategic managers must make a(n) ______. strategic choice Organizations use a value chain to determine which of the following? - which aspect of the business will create the most customer value The condition in which HR practices and processes are focused on addressing the strategic needs of a business is called ______. vertical alignment Ultimately, the choices an organization makes when implementing a strategy are important because they ______. make an economic difference
Which strategy implementation variables are the primary responsibility of HRM? (Select all that apply.) task design An organization improves its chances of delivering value to customers when its ____ values align with the customer value. cultural Which of the following is a model that categorizes the major operational functions of an organization according to their capabilities? value chain What is meant by "best of all worlds" in relation to delivering maximum value from a firm's capabilities? aligning strategy, culture, and talent around customer value Job analysis and design, recruitment and selection, and training and development are all types of _____________ _______________management practice. human resource Which of the following are among the menus of HRM practices associated with strategy implementation? (Select all that apply.) job analysis Jobs are a combination of ______. tasks The process of determining what tasks should be grouped into a particular job is known as ______. job design During recruitment, an organization seeks applicants ______. for potential employment Decisions about how many and what kind of employees to hire are directly impacted by the company's ______. strategy The process of gathering detailed information about particular jobs is known as ______. job analysis Employee ______ describes the acquiring of knowledge, skills, and behavior in the service of meeting the challenges of existing or nonexistent jobs. development When a company adopts a new strategy, which of the following are often integrated into job design? (Select all that apply.) new tasks As part of strategy implementation, an essential element is the acquisition of ______ skills. strategy-related The process by which applicants are sought for potential employment is known as ______ recruitment To align employees' activities and outcomes with organizational objectives, companies use ______. performance management The process of selection involves identifying applicants with characteristics that will help the company ______. achieve its goals Which of the following are ways in which a pay system plays an important role in implementing strategies? (Select all that apply.) - It can help to attract high-quality employees by offering greater benefits in comparison to those of competitors. Companies must determine which of the following? (Select all that apply.) - employees' rights Employee ______ refers to a planned effort to facilitate the learning of job-related skills and knowledge. training Companies are able to obtain a human-resources pool capable of implementing a strategy through which of the following? (Select all that apply.) development Performance management involves specifying which of the following? (Select all that apply.) employee outcomes According to a study of compensation practices in 33 high-tech and 72 traditional companies, which of the following tended to use compensation systems that were oriented toward incentive pay with a lower percentage of total pay devoted to salary and benefits? high-tech companies in the growth stage Companies can choose to treat their employees as which of the following? (Select all that apply.) an expense Similarities in the ways companies attempt to compete within a single industry are known as ______. generic strategies Depending on a company's ______, it can require different role behaviors.
strategy Which of the following are the two most significant generic strategies, according to researcher Michael Porter? (Select all that apply.) cost leadership When an organization pursues a(n) _______ growth strategy, it attempts to build on existing strengths by channeling its resources, such as product development, in that direction. internal When an organization is pursuing an external growth strategy, it will attempt to ______ or integrate vertically or horizontally. diversify The behaviors required of a person who holds a certain job in a certain social work environment are known as _____ behaviors role An organization that pursues a(n) ______ strategy attempts to pare down its operations, usually because of serious economic difficulties. divestment When pursuing a concentration strategy, a company emphasizes which of the following? (Select all that apply.) retaining skilled staff Which of the following are likely aspects of an "internal growth" strategy? (Select all that apply.) joint ventures Which of the following are typically part of an "external growth" strategy? (Select all that apply.) acquisitions When a company is pursuing concentration strategies, appraisals tend to be more ______. behavioral Which of the following are common aspects of a "divestment" strategy? (Select all that apply.) divestitures When an organization pursues a(n) ______ strategy, it is attempting to focus on what it does best in its established markets. concentration When a company pursues an internal growth strategy, which of the following become increasingly common for employees? (Select all that apply.) promotions Mergers rarely live up to expectations as a result of ______ issues, according to a report by the Conference Board. people When a company seeks to maintain the current skills that exist in the organization by providing training that keeps those skills sharp among organizational members, it engages in a(n) ______ strategy. concentration Which of the following are likely to be found in an organization pursuing an internal growth strategy for product development? (Select all that apply.) - development of interpersonal skills True or false: HRM plays no role in either evaluating or implementing a merger or acquisition. false Which of the following statements is true concerning company downsizing? As a company strategy, it is sometimes called "rightsizing." ______ strategies result from proactive decisions made through the rational decision-making process used by managers developing the organization's strategic plan. intended Organizations that emphasize monitoring the business environment, absorbing and using that information to make decisions and restructuring themselves to compete in the environment they exist in, are known as ______ organizations. learning Companies with a highly developed learning capability have a ______. competitive advantage During the dot-com craze of the 1990s, organizations used which of the following tactics to attract talented employees? (Select all that apply.) trying to become "employers of choice" The strategies comprising what organizations actually do as opposed to what they intend to do are known as ______ strategies. emergent The main component that serves as the "raw material" for a learning organization is ultimately the ______. people Human resource management will likely become increasingly important for companies seeking to maintain a competitive advantage due to the current business world's ______. fast rate of change Sets with similar termsch298 terms abellalynn HR Management Ch. 243 terms brandee_m_wilson MIE 330 Topic 219 terms courteney_sebastian MANA 3319-Chapter 1-Practice Questions56 terms mdson557 Sets found in the same folderOBHR Chapter 3136 terms tnazir04 OBHR Chapter 674 terms star2144 OBHR Chapter 7126 terms star2144 OBHR Chapter 587 terms tnazir04 Other sets by this creatorOBHR Chapter 485 terms tnazir04 HMGT QUIZ33 terms tnazir04 BCOM QUIZ9 terms tnazir04 Finance Chapter 2 , 3, 5, 651 terms tnazir04 Other Quizlet setsChapter 3 Exploration and Colonization Test Review…73 terms aquinteachercoach Phys final - Ch. 1425 terms rahrahrita SLP Test 270 terms mackenzie_burris EC-10325 terms Justice_Ellis3 Related questionsQUESTION T/F? Managers coordinate resources to achieve the firm's goals. 3 answers QUESTION A methodology provides a systematic way to plan, manage, and execute projects. 15 answers QUESTION Ohm Software prompts representatives from its software development team as well as its sales and marketing team to review and monitor the performance of its product and service innovations. This is an example of a 2 answers QUESTION The placing of a cookie on a user's hard drive by one site that is then used by another site to sell that user related products without the knowledge of the user is: 12 answers What is strategy implementation in HRM?Strategy implementation is also defined as the manner in which an organization should develop, utilize, and amalgamate organizational structure, control systems, and culture to follow strategies that lead to competitive advantage and a better performance.
Which of the following components are included in the strategic management process quizlet?The strategic management process has six major components:. Establishment of mission, vision, and goals.. Analysis of external opportunities and threats.. Analysis of internal strengths and weaknesses.. SWOT (strengths, weaknesses, opportunities, and threats) analysis and strategy formulation.. Strategy implementation.. What are the roles of HRM in the strategic formulation & implementation of the organization?Implementation has traditionally been the heart of HR's strategic role. ADVERTISEMENTS: A firm's functional strategies should support its competitive strategies. HRM supplies the company with a competent and willing workforce which is responsible for executing strategies.
Which of the following should be true in order for human resources managers to be integrally involved with the company's strategic management process?Which of the following should be true in order for human resource managers to be integrally involved in the company's strategic management process? They should have input into the strategic plan in terms of people-related issues.
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Which of the following are among the menus of hrm practices associated with strategy implementation?
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