Intro to HRM Final Exam UPDATED
ACTUAL Questions And CORRECT
Answers
Human Resource Management - CORRECT ANSWER - The policies, practices, and
systems that influence employees behavior
Primary HRM Activities - CORRECT ANSWER - Administrative Services and
transactions, Business partner services, Strategic partner
Administrative Services and Transactions - CORRECT ANSWER - Compensation, hiring,
staffing
Human Capital: An organization's employees, described in terms of their training, experience,
judgment, intelligence, relationships and insight.
Focuses on efficiency and quality
Strategic Partner - CORRECT ANSWER - Contribute to company strategy by
understanding what HR practices give the organization a competitive advantage
Have to understand the business, industry, and competitors
Business Partner Services - CORRECT ANSWER - Talent Management, developing
effective HR systems
Encouraging and motivating employees to perform in appropriate ways to contribute to
organizational goals
Social Capital
HRM responsibilities - CORRECT ANSWER - Primary activities are NOT mutually
exclusive
Everything is intertwined, one will affect the other
Several of these responsibilities will affect more than one activity
,HR Strategy - CORRECT ANSWER - A company's plan for achieving a competitive
advantage over its rivals
-Influences how employees add value to the organization
-Impacts the type of jobs employees perform
-Affects attitudes and behaviors of employees
-Must be aware of overall organizational strategy
Strategy flow - CORRECT ANSWER - Business strategy --> Primary HR Activities -->
Employee Contributions --> Competitive Advantage
-Not just what we are doing, but HOW they are being done; ideal HR strategy
Competitive Advantage - CORRECT ANSWER - The favorable position an organization
seeks in order to attain leverage over its competitors
- Are you using your resources (physical and human) correctly?
- Do you do what you do better than others?
Strategic Positioning - CORRECT ANSWER - Attempts to achieve sustainable
competitive advantage by preserving what is distinctive about a company
- "Performing different activities from rivals, or performing similar activities in different ways"
Cost Leadership Strategy - CORRECT ANSWER - Offering the lowest costs for products
and services
- Focus on efficiencies and cost reductions
- Minimize overhead costs
- Economies of scale are realized
- Only one cost leader in an industry
Differentiation Strategy - CORRECT ANSWER - Providing something unique for which
customers are willing to pay
, - Unique product or services may include features, location, innovation, reputation, status,
customer service or quality
- Offering something competing firms do not provide and customers value
Low-Cost strategy and Managing Employees - CORRECT ANSWER - Jobs are narrow in
focus and emphasize standardized and repetitive actions
-Behaviors are fairly well understood
-Individuals are hired with basic skills
-Employees trained to understand expectations
-Employees paid based on jobs they perform
Differentiation Strategy and Managing Employees - CORRECT ANSWER - -Jobs geared
toward creativity or customer service
-Employees hired with specific skills and new perspectives
-Jobs require cooperation creativity and knowledge sharing
-Pay based on individual potential or team accomplishments
Porter's Five Competitive Forces - CORRECT ANSWER - -Threat of new entrants
-Bargaining power of buyers
-Threat of substitute products or services
-Bargaining power of suppliers
-Competitive Rivalry
SWOT analysis - CORRECT ANSWER - Internal aspects - controllable
(Organization strengths: skills and capabilities that help establish competitive advantages)
(Organizational weaknesses: decisions and internal factors that hinder an organization)
External aspects - uncontrollable
(Organizational opportunities: Environment factors that organizations can take advantage of to
enhance competitive advantages)
ACTUAL Questions And CORRECT
Answers
Human Resource Management - CORRECT ANSWER - The policies, practices, and
systems that influence employees behavior
Primary HRM Activities - CORRECT ANSWER - Administrative Services and
transactions, Business partner services, Strategic partner
Administrative Services and Transactions - CORRECT ANSWER - Compensation, hiring,
staffing
Human Capital: An organization's employees, described in terms of their training, experience,
judgment, intelligence, relationships and insight.
Focuses on efficiency and quality
Strategic Partner - CORRECT ANSWER - Contribute to company strategy by
understanding what HR practices give the organization a competitive advantage
Have to understand the business, industry, and competitors
Business Partner Services - CORRECT ANSWER - Talent Management, developing
effective HR systems
Encouraging and motivating employees to perform in appropriate ways to contribute to
organizational goals
Social Capital
HRM responsibilities - CORRECT ANSWER - Primary activities are NOT mutually
exclusive
Everything is intertwined, one will affect the other
Several of these responsibilities will affect more than one activity
,HR Strategy - CORRECT ANSWER - A company's plan for achieving a competitive
advantage over its rivals
-Influences how employees add value to the organization
-Impacts the type of jobs employees perform
-Affects attitudes and behaviors of employees
-Must be aware of overall organizational strategy
Strategy flow - CORRECT ANSWER - Business strategy --> Primary HR Activities -->
Employee Contributions --> Competitive Advantage
-Not just what we are doing, but HOW they are being done; ideal HR strategy
Competitive Advantage - CORRECT ANSWER - The favorable position an organization
seeks in order to attain leverage over its competitors
- Are you using your resources (physical and human) correctly?
- Do you do what you do better than others?
Strategic Positioning - CORRECT ANSWER - Attempts to achieve sustainable
competitive advantage by preserving what is distinctive about a company
- "Performing different activities from rivals, or performing similar activities in different ways"
Cost Leadership Strategy - CORRECT ANSWER - Offering the lowest costs for products
and services
- Focus on efficiencies and cost reductions
- Minimize overhead costs
- Economies of scale are realized
- Only one cost leader in an industry
Differentiation Strategy - CORRECT ANSWER - Providing something unique for which
customers are willing to pay
, - Unique product or services may include features, location, innovation, reputation, status,
customer service or quality
- Offering something competing firms do not provide and customers value
Low-Cost strategy and Managing Employees - CORRECT ANSWER - Jobs are narrow in
focus and emphasize standardized and repetitive actions
-Behaviors are fairly well understood
-Individuals are hired with basic skills
-Employees trained to understand expectations
-Employees paid based on jobs they perform
Differentiation Strategy and Managing Employees - CORRECT ANSWER - -Jobs geared
toward creativity or customer service
-Employees hired with specific skills and new perspectives
-Jobs require cooperation creativity and knowledge sharing
-Pay based on individual potential or team accomplishments
Porter's Five Competitive Forces - CORRECT ANSWER - -Threat of new entrants
-Bargaining power of buyers
-Threat of substitute products or services
-Bargaining power of suppliers
-Competitive Rivalry
SWOT analysis - CORRECT ANSWER - Internal aspects - controllable
(Organization strengths: skills and capabilities that help establish competitive advantages)
(Organizational weaknesses: decisions and internal factors that hinder an organization)
External aspects - uncontrollable
(Organizational opportunities: Environment factors that organizations can take advantage of to
enhance competitive advantages)
