PHR/SPHR - Partial Chapter 3 Quiz
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This quiz covers the material from Anne Bogardus' book; PHR/SPHR Study Guide. The quiz only covers material from the beginning of chapter #3 to pp#113. I will add to this when I can, so all of chapter #3 material is covered. Good luck!
Questions and Answers
- 1.
What are the four Ps of Marketing? This is an essay question. You will not be graded on your answer. When you submit your answer, please click on the view answer link to see the notes.
- 2.
What are the four essential questions strategic planning attempts to answer? This is an essay question. You will not be graded on your answer. When you submit your answer, please click on the view answer link to see the notes.
- 3.
What types of forces effect organizations? Check all that apply.
- A.
External Business Environment
- B.
Internal Business Operations
- C.
Interior Business Forces
- D.
Exterior Forces
Correct Answer(s)
A. External Business Environment
B. Internal Business OperationsExplanation
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.Rate this question:
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- 4.
What are the external forces affecting organizations? Check all that apply.
- A.
Technological developments
- B.
Industry changes
- C.
Economic environment
- D.
Labor pool
- E.
Legal and regulatory activity
Correct Answer(s)
A. Technological developments
B. Industry changes
C. Economic environment
D. Labor pool
E. Legal and regulatory activityExplanation
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.Rate this question:
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- 5.
Typewriters being replaced by computers are an example of what type of external force? Check all that apply.
- A.
Economic environment
- B.
Labor pool
- C.
Technological developments
Correct Answer
C. Technological developmentsExplanation
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.Rate this question:
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- 6.
What are the basic organizational structures? Check all that apply.
- A.
Corporations
- B.
Partnerships
- C.
Sole proprietorships
- D.
Limited liability companies
- E.
Limited slip organizatons
Correct Answer(s)
A. Corporations
B. Partnerships
C. Sole proprietorships
D. Limited liability companiesExplanation
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.Rate this question:
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- 7.
What are the types of Partnerships? Check all that apply.
- A.
Informal partnership
- B.
Limited partnership
- C.
Formal partnership
- D.
Joint venture
- E.
General partnership
Correct Answer(s)
B. Limited partnership
D. Joint venture
E. General partnershipExplanation
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.Rate this question:
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- 8.
Corporations are defined by four characteristics. Please describe one of the four.
Correct Answer(s)
Limited liability
Life of corporation extends beyond original founder
Central management
Ownership transferred through stockExplanation
You only needed to have entered any one of these four possible answersRate this question:
- 9.
What are some of the more common organizational functions?
- A.
Production and Operations
- B.
Sales and Marketing
- C.
Fleet Management
- D.
Research and Development
- E.
Information Technology
Correct Answer(s)
A. Production and Operations
B. Sales and Marketing
D. Research and Development
E. Information TechnologyExplanation
Please check all that applyRate this question:
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- 10.
Can you name any additional organizational functions?
- A.
Finance and Accounting
- B.
Project Management
- C.
People/Employees
- D.
Leadership
Correct Answer(s)
A. Finance and Accounting
C. People/EmployeesExplanation
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.Rate this question:
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- 11.
True or False: Production and Operations are used interchangeably?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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.Rate this question:
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- 12.
True or False: In some organizations R&D may be shared by the Accounting and Finance functions.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
In some organizations the R&D function may be shared by the Marketing and Operations functions.Rate this question:
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- 13.
Fill in the blank by choosing the most correct answer below for the following sentence: HR may work with _________ to help project needed staffing levels for the entire organization.
- A.
Marketing
- B.
Operations
- C.
Information Technology
- D.
Finance
Correct Answer
D. FinanceExplanation
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.Rate this question:
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- 14.
True of False: Accounting is responsible for preparing budget reports that managers use to maintain control of operating costs.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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.Rate this question:
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- 15.
What year was the Securities and Exchange Act created?
- A.
1932
- B.
1934
- C.
1936
- D.
1938
Correct Answer
B. 1934Explanation
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.Rate this question:
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- 16.
What does SEC stand for?
- A.
Secure Exchanged Credits
- B.
Silicon Exchanged Credits
- C.
Securities and Exchange Commission
Correct Answer
C. Securities and Exchange CommissionExplanation
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.Rate this question:
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- 17.
What does AICPA stand for? Please capitalize the beginning of each word.
Correct Answer
American Institute of Certified Public AccountantsExplanation
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.Rate this question:
- 18.
True of False: GAAP stands for Generally Accepted Actuarial Principles.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
GAAP stands for Generally Accepted Accounting PracticesRate this question:
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- 19.
When was FASB established?
- A.
1970
- B.
1972
- C.
1975
- D.
1978
Correct Answer
B. 1972Explanation
The Financial Accounting Standards Board was established by the AICPA in 1972.Rate this question:
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- 20.
What three themes have emerged in the research on Employee Engagement?
- A.
Leadership
- B.
Marketing
- C.
Professional Development
- D.
Accounting
- E.
Employee Recognition
Correct Answer(s)
A. Leadership
C. Professional Development
E. Employee RecognitionExplanation
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.Rate this question:
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- 21.
Employees are more engaged when...? Select the best answer from the following.
- A.
HR provides a training program to enhance employee engagement
- B.
Managers actively groom their subordinates
- C.
The Sales department gets a new microwave for their work area
- D.
Employees get new calendars each year
Correct Answer
B. Managers actively groom their subordinatesExplanation
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.Rate this question:
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- 22.
True or False: Leadership can be demonstrated when managers effectively communicate organizational goals and the workgroup's role in achieving those goals.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
See page #102 in Anne Bogardus' book.Rate this question:
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- 23.
True of False: Organizations have life cycles, which move in order from Startup to Maturity to Growth to Decline.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
The organizational life cycle moves from startup - growth - maturity - decline.Rate this question:
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- 24.
Some traits of an organization in the Startup phase are...?
- A.
Can offer at or above market salary and benefits
- B.
May engage in outsourcing as an alternative to internal functions
- C.
There are many layers of management
- D.
Training and development is key in this stage
Correct Answer
B. May engage in outsourcing as an alternative to internal functionsExplanation
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.Rate this question:
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- 25.
Traits of organizations in the Growth stage may include...? Check all that apply.
- A.
Founders are no longer able to manage the organization on their own
- B.
Morale gets a boost due to the new management that is hired
- C.
Compensation becomes more competitive
- D.
Outsourcing may still be needed for some functions
Correct Answer(s)
A. Founders are no longer able to manage the organization on their own
C. Compensation becomes more competitive
D. Outsourcing may still be needed for some functionsExplanation
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.Rate this question:
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- 26.
Some traits of the Maturity phase are...? Check all that apply.
- A.
The organization remains nimble, able to change course easily
- B.
Can hire less experienced personnel
- C.
Training and development is not widely used
- D.
Bureaucracy becomes a possible issue at this phase
Correct Answer(s)
B. Can hire less experienced personnel
D. Bureaucracy becomes a possible issue at this pHaseExplanation
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.Rate this question:
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- 27.
Traits during the decline phase are...? Check all that apply.
- A.
There is plenty of bureaucracy and inefficiencies
- B.
Organizations may reduce the workforce and/or close plants
- C.
Products and services are the most competitive in this phase
- D.
The general trend in sales is downward
Correct Answer(s)
A. There is plenty of bureaucracy and inefficiencies
B. Organizations may reduce the workforce and/or close plants
D. The general trend in sales is downwardExplanation
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.Rate this question:
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- 28.
True or False: HR's role in organizations is evolving to be more strategic.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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.Rate this question:
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- 29.
How do HR professionals contribute to the business strategy?
- A.
As Subject Matter Experts (SMEs)
- B.
They develop the organization's strategic plan
- C.
They create the "implementation plan" after the strategic plan is created
- D.
They decide on how to distribute the assets in order the meet the plan's goals
Correct Answer
A. As Subject Matter Experts (SMEs)Explanation
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.Rate this question:
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- 30.
Although there are many different strategic planning models, there are some some common themes among them. Please select all of the elements below that describe the strategic planning process, in general.
- A.
Environmental Planning
- B.
Strategy Implementation
- C.
Strategy Formulation
- D.
Environmental Evaluation
- E.
Strategy Evaluation
Correct Answer(s)
B. Strategy Implementation
C. Strategy Formulation
E. Strategy EvaluationExplanation
The four themes that seem to common to the strategic planning process are: environmental scanning, strategy formulation, strategy implementation, strategy evaluation.Rate this question:
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- 31.
Which of the following are terms are needed to discuss the strategic planning process?
- A.
Strategy
- B.
Industry
- C.
Objective
- D.
Goal
Correct Answer(s)
A. Strategy
C. Objective
D. GoalExplanation
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.Rate this question:
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- 32.
True or False: Environmental scanning is particularly crucial when organizations are in the Maturity phase; experiencing a slow pace of change.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
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.Rate this question:
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- 33.
Strategy formulation requires the creation of ____________, which guide the organization over the long term. Check all that apply.
- A.
Mission statement
- B.
Objective statement
- C.
Vision statement
- D.
Core value statement
Correct Answer(s)
A. Mission statement
C. Vision statement
D. Core value statementExplanation
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.Rate this question:
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- 34.
True or False: Once the Vision and Mission statements are completed, corporate goals need to be created. These goals describe how the organization will get there in the long range.
- A.
True
- B.
False
Correct Answer
B. FalseExplanation
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.Rate this question:
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- 35.
What does the SMART acronym stand for? Please capitalize the first letter of each word, or the computer will mark it as incorrect even if you get the answer correct.
Correct Answer
Smart
Measurable
Action-Oriented
Realistic
Time-BasedExplanation
The hyphenated words may have thrown you off on this one. All that really matters is that you understand this model.Rate this question:
- 36.
With Strategy Implementation, the focus is on which one of the following options?
- A.
Long range goals
- B.
Mid range goals
- C.
Short range goals
Correct Answer
C. Short range goalsExplanation
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.Rate this question:
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- 37.
True or False: Within the Strategy Implementation phase, you may need to develop a budget?
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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.Rate this question:
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- 38.
True or False: During Strategy Evaluation, the organization must be ready to adjust its tactical goals and action plans if they are not working or if market conditions change.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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.Rate this question:
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- 39.
A Human Capital Management Plan (HCMP) is also known as a ___________. Please use all lower case in your answer.
Correct Answer
strategic hr planExplanation
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.Rate this question:
- 40.
True of False: An HCMP answers the same four questions addressed during the strategic planning process.
- A.
True
- B.
False
Correct Answer
A. TrueExplanation
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?Rate this question:
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