SHRM-SCP Exam Study Prep Questions With Correct Verified Answers A+ Graded

SHRM-SCP Exam Study Prep Questions With Correct Verified Answers A+ Graded Shareholder (Workplace) - ANS An owner of shares in a company. A person who invests in a corporation by buying stock and is a partial owner. Stakeholder (Workplace) - ANS Stakeholder is Everyone. Someone other than a stockholder or creditor who potentially has a claim on the cash flows of the firm. A person or organization with an interest in a particular place or issue. Strategy (Workplace) - ANS A long term plan. Are long term, are things that are long term goals. Strategies Do Not change that much. A plan of action or policy designed to achieve a major or overall aim. Plan of action for accomplishing an organization's overall and long-range goals. Strategy ~Larger, overall plan that can comprise several tactics. ~Broad, "big picture" ~Over time, long periods of time, future-oriented. ~A year of advertising and marketing plans for a company Stakeholder theory - ANS A theory that holds that social responsibility is paying attention to the interest of every affected stakeholder in every aspect of a firm's operation. Tactics (Workplace) - ANS Short term steps on the way to long term plan/objectives. Are short term. Are the companies short term goals. Changes are made often. An action or strategy carefully planned to achieve a specific end. The methods and actions taken to accomplish strategies. Tactic ~Plans, tasks, or procedures that can be carried out; may be part of a larger strategy. ~Narrow, "close-up" ~Soon or present. ~One of the ads from the planned marketing strategy. The difference between a strategy and a tactic: (Workplace) - ANS A strategy is a larger, overall plan that can comprise several tactics, which are smaller, focused, less impactful plans that are part of the overall plan. Engaging and Preparing Stakeholder - ANS -SWOT -Multi Criteria -Cost benefit -Force field analysis Compa-ratio - ANS Pay rate divided by the midpoint of the pay range. i.e. Given a pay range with a minimum of $16.00 per hour and a maximum of $20.00 per hour, the midpoint is $18.00 per hour. The Compa Ratios for employees A, B, C, and D would be as follows: $16/$18 = .89 or 89% - Employee A earns $16. $16.50/$18 = .92 or 92% - Employee B earns $16.50 $18/$18 = 1.00 or 100% - Employee C earns $18.00 $19/$18 = 1.06 or 106% - Employee D earns $19