PHR/SPHR - Partial Chapter 3 Quiz

The answer here is true, but that only tells part of the story. While HR's role is moving from advisory to more strategic, HR is also taking on administrative and operations roles as well.

The correct answer is Securities and Exchange Commission. The Securities and Exchange Commission (SEC) is a government agency responsible for regulating and overseeing the securities industry in the United States. It ensures that investors are protected and that the markets operate in a fair and efficient manner. The SEC enforces securities laws, regulates the activities of financial professionals and institutions, and provides investors with information to make informed decisions.

See page #102 in Anne Bogardus' book.

Typewriters being replaced by computers is an example of technological developments. This refers to the advancements and innovations in technology that lead to the introduction and adoption of new tools and systems. In this case, the typewriters were replaced by computers, indicating a shift in technology and the use of more advanced devices for writing and communication purposes.

The research on Employee Engagement has identified three main themes. The first theme is Leadership, which focuses on the role of leaders in creating an engaged workforce. The second theme is Professional Development, which highlights the importance of providing opportunities for employees to grow and develop their skills. The third theme is Employee Recognition, which emphasizes the significance of acknowledging and appreciating employees' contributions. These three themes are crucial in understanding and promoting employee engagement in organizations.

During the evaluation phase, the organization determines how well the action plans are working, or not, and adjust short range goals if needed, but they do not change the long range components; vision, mission, values. P#111 in Anne Bogardus' book.

The AICPA stands for the American Institute of Certified Public Accountants. This organization is responsible for setting ethical standards and providing guidance for the accounting profession in the United States. They also administer the Uniform CPA Examination and offer various resources and support for CPAs.

You only needed to have entered any one of these four possible answers

In some organizations the R&D function may be shared by the Marketing and Operations functions.

And, those questions are where are we now, where do we want to be, how will we get their, and how will we know when we arrive?

The external forces that affect organizations include technological developments, industry changes, economic environment, labor pool, and legal and regulatory activity. Technological developments refer to advancements in technology that can impact how organizations operate and compete. Industry changes involve shifts in market trends, competition, and consumer preferences. The economic environment encompasses factors like inflation, interest rates, and economic growth that can impact the overall business climate. The labor pool refers to the availability and quality of the workforce, including factors like labor market trends and demographics. Legal and regulatory activity includes laws and regulations that organizations must comply with, such as employment laws, environmental regulations, and industry-specific regulations.

Accounting is responsible for preparing budget reports that managers use to maintain control of operating costs. Budget reports provide crucial information about the financial performance of a company, including revenue and expenses. By analyzing these reports, managers can identify areas where costs can be reduced or controlled, ensuring that the company operates within its budgetary constraints. Accounting plays a vital role in collecting and organizing financial data, creating budget reports that enable effective cost management and decision-making. Therefore, the statement "Accounting is responsible for preparing budget reports that managers use to maintain control of operating costs" is true.

A Human Capital Management Plan (HCMP) is also known as a strategic hr plan. This plan outlines the strategies and initiatives that an organization will undertake to effectively manage and develop its human capital. It involves activities such as talent acquisition, performance management, training and development, and succession planning. By creating a strategic hr plan, organizations can align their human resource practices with their overall business goals and objectives, ensuring that they have the right people in the right positions to drive success.

The basic organizational structures include corporations, partnerships, sole proprietorships, and limited liability companies. These structures represent different legal forms in which businesses can operate. Corporations are separate legal entities owned by shareholders. Partnerships involve two or more individuals who share the profits and liabilities of the business. Sole proprietorships are businesses owned and operated by a single individual. Limited liability companies combine the characteristics of both corporations and partnerships, providing limited liability for its owners. Limited slip organizations are not a recognized organizational structure, hence they are not included in the correct answer.

With all of the action plans in place, the organization will have the information it needs to know if any additional resources will be needed to implement the strategy. Budgeting is the tool used to determine the cost of implementing the strategy.

GAAP stands for Generally Accepted Accounting Practices

During the decline phase of an organization, there is typically plenty of bureaucracy and inefficiencies. As the organization struggles to maintain its operations, it may also reduce the workforce and close plants in an effort to cut costs. Additionally, the general trend in sales during this phase is downward, indicating a decline in demand for the organization's products and services.

HR professionals contribute to the business strategy as subject matter experts (SMEs). This means that they possess specialized knowledge and expertise in HR practices and principles. They use this expertise to provide guidance and support in aligning HR strategies with the overall business strategy. By leveraging their knowledge, HR professionals can ensure that the organization's human resources are effectively managed and utilized to achieve the strategic goals. They play a crucial role in areas such as talent acquisition, talent development, performance management, and employee engagement, all of which are essential for the successful implementation of the business strategy.

Please check all that apply

Production and operations are often used interchangeably because they both involve the management and coordination of resources to create goods and services. Both terms refer to the activities involved in transforming inputs into outputs, and they are integral components of any organization or business. However, it is important to note that while production typically focuses on the physical aspects of creating goods, operations encompass a broader range of activities, including planning, organizing, and controlling the entire production process.

The organizational life cycle moves from startup - growth - maturity - decline.

During startup, organizations usually offer below market benefits, have few layers of management and there is little time/money for training. Startups may likely use outsourcing to fill functional needs they can not otherwise afford.

Three key terms used to discuss strategic planning are; strategy, objective and goal. Although the industry for an organization is important in the process it is not one of the key terms used to discuss the process.

Organizations are influenced by both external and internal forces. The external business environment includes factors such as the economy, market trends, competition, and government regulations. These external forces can impact an organization's performance, strategy, and decision-making. On the other hand, internal business operations refer to the internal processes, structures, and systems within an organization that affect its day-to-day functioning. These include factors such as organizational culture, leadership, communication, and employee engagement. Therefore, both the external business environment and internal business operations are types of forces that can affect organizations.

The Financial Accounting Standards Board was established by the AICPA in 1972.

If you picked C, you are very close, as this is a form of non-monetary reward. Still, B would be a more powerful engagement behavior.

In the Growth stage of an organization, it is common for founders to no longer be able to manage the organization on their own. As the organization grows, it becomes necessary to bring in additional management to handle the increased workload and complexity. Additionally, compensation becomes more competitive in order to attract and retain talented employees as the organization expands. Outsourcing may still be needed for some functions, as the organization may not have the resources or expertise in-house to handle all tasks efficiently.

On the contrary, evironmental scanning is key for organizations that are undergoing rapid change. This will enable them to stay up to date on key elements that could affect their strategic planning.

In the Maturity phase, organizations can hire less experienced personnel because they have established processes and systems in place. However, bureaucracy becomes a possible issue at this phase because as organizations grow and become more complex, there is a tendency for decision-making processes to become slower and more bureaucratic.

Finance is the best answer. Although the other functions listed may be able to provide data for their function they will not have access to organization wide data.

The correct answer is 1934. The Securities and Exchange Act was created in 1934 to regulate the securities industry and protect investors. This act established the Securities and Exchange Commission (SEC) to enforce federal securities laws and oversee the securities markets. It was enacted in response to the stock market crash of 1929 and aimed to restore investor confidence and prevent fraudulent activities in the securities industry.

The question asks for the types of partnerships, and the correct answer includes limited partnership, joint venture, and general partnership. These are all recognized forms of partnerships in business. An informal partnership and a formal partnership are not commonly recognized types of partnerships, so they are not included in the correct answer.

The four themes that seem to common to the strategic planning process are: environmental scanning, strategy formulation, strategy implementation, strategy evaluation.

The answer above is almost true, except that corporate goals describe how the organization will "get there" in the mid to long range, not just long range.

At this phase of the strategic planning process, the most short-range goals are developed, and they are used to help business units work toward achieving the longer range goals of the strategic plan.

Vision, Mission and Values are longterm guides used by the organization during the strategic planning process. Core Competencies are identified by organizations to better focus their strategy on what it is they do best.

The hyphenated words may have thrown you off on this one. All that really matters is that you understand this model.

The additional organizational functions mentioned in the question are Finance and Accounting and People/Employees. Finance and Accounting refers to the management of financial resources, including budgeting, financial reporting, and analysis. People/Employees function involves managing and developing the workforce, including recruitment, training, and performance evaluation. These functions are essential for the smooth operation and success of an organization, as they ensure financial stability and the effective utilization of human resources.