This quiz is based on Human Resource Management, specifically focusing on strategic planning and analysis. It assesses understanding of strategic planning processes, managerial planning, and the alignment of business strengths with market opportunities to maintain competitiveness.
Financial auditing
Strategic planning
Employee benchmarking
Employee testing
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Evaluating the possible alternatives
Implementing a course of action
Setting an objective
Comparing options
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Focusers
Differentiation
Cost leadership
Providing input to top management about industry trends
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The management planning process
Financial auditing
Employee testing
Employee benchmarking
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Evaluation of best options
Establishment of clear objectives
Implementation of the plan
Building corporate hierarchies
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Evaluating the firm's internal and external situation
Asking, "Where are we now as a business?"
Formulating a new business direction
Offshoring low-skill jobs
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Supplier
Department
Executive
Employee
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Competitive advantage
Competitive
Functional
Vertical integration
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Expand by adding new product lines
Reduce the company's size to increase market share
Save money by producing its own raw materials
Increase profits by offering one popular product
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Formulating a strategy
Asking, "Where are we now as a business?"
Evaluating the strategic plan
Implementing an environmental scan
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Strategy map
Business plan
Scanning worksheet
Digital dashboard
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Goal
Plan
Proposition
Assessment
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Consolidation
Geographic expansion
Diversification
Horizontal integration
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Selling unprofitable divisions
Producing raw materials
Aggressively selling a new product
Purchasing a competitor's firm
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Foster a strong organizational culture
Create management opportunities for new hires
Develop a trained, flexible, and self-motivated workforce
Utilize benchmarks to compare personnel skills within an industry
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Vision
Goal
Strategy
Mission
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Functional strategy
Competitive advantage
Distinctive competency
Related diversification
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Technology
Financing
Personnel
Stock prices
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Digital dashboard
Strategy map
HR audit
Mission plan
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A strategic objective
Visionary strategy
Vertical strategy
A strategy map
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Visions and objectives
Policies and practices
Missions and goals
Theories and tools
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Benchmarking
Diversifying
Strategizing
Outsourcing
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Ways to strengthen a firm's long-term competitive position in the marketplace
Tools for diversifying a business portfolio through the acquisition of MNEs
Means to becoming a low-cost leader within a highly competitive industry
Ways to carve out a market niche in order to compete for high-end customers
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Strategic human resource management
Human resource performance systems
High-performance personnel management
Personnel management by objectives
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Employees receive extensive training.
Employee turnover is extremely high.
Only executives are eligible for incentive pay
The majority of jobs are filled externally.
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Workforce requirement matrix
Environmental scan worksheet
External resource system table
Potential globalization network
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Market penetration
Concentration
Vertical integration
Consolidation
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Mission statement
Strategic plan
Vision statement
Marketing plan
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Functional
Business unit
Corporate-level
Competitive
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HR scorecard
Vision statement
Digital dashboard
Benchmarking process
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Exempt workers
Job descriptions
Accounting expenses
Workers' compensation benefits
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Strategy map
HR scorecard
HR feedback scale
Digital dashboard
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Consolidation
Diversification
Geographic expansion
Vertical integration
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5%
30%
50%
75%
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Develop human resource policies that align with industry standards
Integrate a company's strategic plan with its human resource strategies
Create stringent appraisal systems that highlight employee weaknesses
Use offshoring to reduce human resource costs and to initiate globalization
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Human resource audits
Human resource metrics
Management by objectives
Human resource scorecards
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Functional
Corporate-level
Horizontal
Competitive
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Management by objectives
Emergent employee behaviors
Corporate-level strategies
Evidence-based management
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Data mining system
Talent value model
Financial audit
Strategy map
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Use of data
Experimentation
Subjectivity
Prediction
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Computerized applicant tracking systems
Benchmarking
Data mines
Strategy map
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High-performance work system
Scorecard management system
Benchmark and metric analysis
Management by objectives strategy
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Environmental demands
Competitive standards
Natural resources
Hierarchical skills
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Cost leaders
Focusers
Visionaries
Market leaders
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Strategic plans
HR policies
Employee skills
Company norms
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The manager asks, "What employee skills and behaviors will we need to achieve these plans and goals?"
The manager formulates strategic plans and goals
The manager asks, "Specifically what recruitment, selection, training, and other HR policies and practices should we put in place so as to produce the required employee skills and behaviors?"
The manager asks, "How much profit can we make on this?"
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Digital dashboard
HR scorecard
Strategy map
HR audit
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Hiring employees based on validated selection tests
Providing pay increases based on service years
Extensive training of the workforce
Utilizing self-managing work teams
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