HRM 431 – Chapter 2 – Flashcards

A _____ is a story of how the firm will create value for customers and, more important, how it will do so profitably. A) SWOT analysis B) business model C) process D) proposition E) goal

Which of the following is an example of a variable cost for a firm? A) Rent B) Property tax C) Raw materials D) Insurance E) Machinery depreciation

During which of the following phases of the strategic management process does a strategic planning group use the company's mission and goals, external threats and opportunities, and internal strengths and weaknesses to generate strategic alternatives? A) Strategy formulation B) Strategy evaluation C) Strategy implementation D) Strategy execution E) Strategy analysis

During the strategy _____ phase of the strategic management process, the company follows through on the chosen strategy. A) formulation B) development C) implementation D) evaluation E) analysis

Which of the following activities is performed during the strategy implementation phase of the strategic management process? A) Defining the company's mission B) Discovering external opportunities C) Identifying internal weaknesses D) Setting the company's goals E) Allocating resources

Which of the following statements is true about the role of HRM in strategy formulation? A) A firm's strategic management decision-making process takes place at its lower levels. B) The strategic planning group usually consists of subordinates and regional business heads. C) Five levels of integration exist between the strategic management function and the HRM function. D) The HRM function needs to be involved in each component of a firm's strategic management process. E) Administrative linkage is the highest level of integration between the HRM function and the strategic management function.

In which level of linkage does a company's strategic business planning function exist without any input from the HRM department? A) Administrative linkage B) One-way linkage C) Two-way linkage D) Integrative linkage E) Executive linkage

In which of the following integration levels is a company's HRM functions built right into the strategy formulation and implementation processes? A) Administrative linkage B) One-way linkage C) Two-way linkage D) Three-way linkage E) Integrative linkage

H Corp., an online book retailer, has been the market leader for the last three years. However, a new firm, Booksie Inc., recently set up its own online store and is eating into H's market share. In the context of strategic factors, Booksie represents a(n) _____. A) opportunity B) threat C) weakness D) strength E) capital scarcity

_____ consists of examining the organization's operating environment to identify the strategic opportunities and threats. A) External analysis B) Job analysis C) Human resource planning D) Strategy implementation E) Internal analysis

_____ alignment means that HR practices and processes are aimed at addressing the strategic needs of a business. A) Matrix B) Normative C) External D) Vertical E) Diagonal

Sol Tech, an alternative energy company, recently introduced a new line of solar energy equipment. The company wants all of its employees to be familiar with the features of the new equipment as well as its maintenance requirements. Which of the following HRM practices will help Sol Tech's employees acquire the knowledge and skills needed to make their solar energy products a success? A) Job analysis and design B) Recruitment and selection C) Labor and employee relations D) Performance management E) Training and developmen

_____ is used to ensure that employees' activities and outcomes are congruent with the organization's objectives. A) Job analysis B) Performance management C) Employee relations D) Training E) Recruitment

Which of the following strategies focuses on increasing market share, reducing costs, or creating and maintaining a market niche for products and services? A) Divestment B) Internal growth C) External growth D) Concentration E) Liquidation

The new focus on strategic HRM has tended to focus primarily on _____ strategies that are the result of the rational decision-making processes used by top managers. A) intended B) emergent C) generic D) non-directional E) enhancement