SHRM-SCP EXAM STUDY PREP QUESTIONS AND ANSWERS 2024

hareholder (Workplace) An owner of shares in a company. A person who invests in a corporation by buying stock and is a partial owner. Stakeholder (Workplace) 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. Brainpower Read More Previous Play Next Rewind 10 seconds Move forward 10 seconds Unmute 0:00 / 0:00 Full screen Strategy (Workplace) 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 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) 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) 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 -SWOT -Multi Criteria -Cost benefit -Force field analysis Compa-ratio 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 Yield Ratio a ratio that expresses the percentage of applicants who successfully move from one stage of the recruitment and selection process to the next. Yield ratio in HR shows the percentage of candidates from the recruitment sources that were selected for the next stage of a hiring process. In simple words yield ratios show the efficiency of the certain recruitment method. Information about yield ratio allows HR. KPI-Key Performance Indicator Yield ratio = Number of leads from Recruitment Method/Number of candidates invited to interview x 100% Qualified Applicants/Total Applicants Female Applicants/Total Applicants Offers Extended/Final Interviews Minority Applicants/Total Applicants ROI Return on investment Gain from Investment - Cost of Investment/Cost of Investment ROI ex: Loaned $250.00 $500 - $250 = $250.00 You made 50% ROI Profitability ratio for a specific investment, such as a capital expense project. Its usually used to compare options. ROI Globalization (Workplace) Status of growing interconnectedness and interdependency among countries, people, markets and organizations worldwide. The process by which businesses or other organizations develop international influence or start operating on an international scale. Growth to a global or worldwide scale. Globalization (Workplace) Actions or processes that involve the entire world and result in making something worldwide in scope. The process by which businesses or other organizations develop international influence or start operating on an international scale. Others characterize the dimensions of globalization as a web of interconnectedness of the movement of people (labor) and knowledge (technology) across borders. Thomas L. Friedman calls it Globalization 3.0, when PESTLE, political, economic, social, technological, legal and environmental all converged. Global organization (Workplace) A global organization is one whose every process, action, and decision is firmly rooted in a carefully conceived global strategy. The new global enterprise may be a corporation, a governmental agency, a nongovernmental organization, a nonprofit, an association or an educational institution. An organization that chooses to locate a facility based on the ability to effectively, efficiently, and flexibly produce a product or service, using cultural differences as an advantage. An organization that operates and competes in more than one country. A global HR professional from a low power distance culture is planning to conduct a needs assessment in a high power distance country. What is the global HR professional likely to discover? (HR Competencies) Skill deficiencies may not be discussed openly. Culture will play a key role in the needs assessment. In a high power distance country, individuals may be reluctant to share skill deficiencies for fear of losing face. Needs analyses may be less effective if conducted participatively, and decisions regarding who should participate in training may be based on group membership. Which growth strategy is commonly used to accelerate the path to globalization? (Workplace) Alliances Alliances, partnerships, and acquisitions are vehicles that can accelerate the path to globalization. Alliances (Workplace) An agreement between 2 or more countries to help each other out in war. Alliances, partnerships, and acquisitions are vehicles that can accelerate the path to globalization. Which growth strategy is commonly used to accelerate the path to globalization? Alliances Pull factors (Workplace) Factors that induce people to move to a new location/another location. Positive conditions and perceptions that effectively attract people to new locales from other areas. Which of the following is a "push factor" for global expansion? (Workplace) Need for new markets Organizations are pushed toward globalization in reaction to changes in the business environment (such as limited market opportunities in their home countries). The other factors listed here are "pull factors." Organizations are pulled toward globalization through the promise of achieving greater organizational value. Which of the following is considered a "pull factor" in attracting organizations toward globalization? (Workplace) Greater strategic control A "pull" globalization factor is an attribute of globalization that an organization wants to achieve--in this case, greater control over strategic goals. The other factors are "push" factors, ones that oblige an organization to go global to remain competitive. An employee has been selected for an international assignment. This first-time assignment is expected to last two to three years and involves full relocation. Why is a well-crafted global letter of assignment a key part of the assignment plan? (Workplace) It addresses the terms and conditions of the assignment. A letter of assignment evolves from the assignment plan and addresses the business aspects of the assignment as well as compensation, benefits, and local work rules. Taking the time to ensure that the information provided is clearly articulated, thorough, consistent, and unambiguous sets clear and reasonable expectations between the employer and the employee. In turn, this information sets the stage for a successful first-time international assignment. A letter of assignment does not address culture shock or repatriation specifics (although it may include information about termination policies). Third-party vendors may still be needed through various phases of deployment, repatriation, or redeployment. What critical role does HR need to assume in light of today's globalization forces? (Workplace) Balancing policy standardization to reflect an organization's global strategy with policy localization to reflect national cultures and laws Globalization has made the role of HR more critical and more complex. In developing and implementing global strategies, global HR must constantly balance standardization of policies influenced by the organization's values and global strategy with the need to localize these policies through programs and practices that reflect organizational and national cultures and local laws. What impact an organization's Local Responsiveness (LR) globalization strategy have on the HR staffing strategy? More emphasis on mentoring and talent management. An LR strategy commits an organization to greater reliance on local expertise. This would call for increased in vestment in developing local talent and a new class of local leaders. What HR task is typically required by a multidomestic corporation? (Workplace) Coordinating HR activities between the home and host countries. A multidomestic corporation is similar to a portfolio of independent businesses. Headquarters is in the home country, but over time the divisions achieve more autonomy. At this stage, HR is involved in coordinating HR activities with the goal of consistency while remaining flexible with local law and culture. A global task force is behind schedule on its project. Members from different regions and disciplines seem unable to understand one another's perspectives or priorities. Which component of emotional intelligence can best help the team leader understand the root problem? (HR Competencies) Empathy Empathy enables one to acknowledge and understand others' emotions. In a diverse organization, where one person's emotional response may be inexplicable to someone with a very different background, this is a critical skill. The other components listed can be of help in arriving at and implementing a solution, but empathy is the starting point for determining the problem. What is one thing an organization can do to help ensure a global assignment's success for both the individual and the organization? (Workplace) Provide well-planned, ongoing training and support. Ongoing training and support is critical throughout the assignment, not just before. Both expatriation and repatriation require equal attention. Assignments should be viewed as a process, not an activity. All criteria, not just functional and communication skills, should be considered in candidate selection. A Taiwanese manufacturer of electronic components for major global brands has sites in several emerging economies, including Vietnam, Turkey, and Mexico, and in the U.S. What offshoring trend does this exemplify? Multidirectional shift in the flow of offshoring jobs to and from developed and emerging economies. The motivations for offshoring, and, consequently, where it is taking place and which firms are adopting it as a global strategy, are changing as a result of new globalization forces, principally the shift from developed to emerging economies. The flow of offshoring jobs is now going in both directions or, rather, in many directions at once. KNOW THESE TERMS: What critical role does HR need to assume in light of today's globalization forces? (Workplace) Balancing policy standardization to reflect an organization's global strategy with policy localization to reflect national cultures and laws. Globalization has made the role of HR more critical and more complex. In developing and implementing global strategies, global HR must constantly balance standardization of policies influenced by the organization's values and global strategy with the need to localize these policies through programs and practices that reflect organizational and national cultures and local laws. Which company illustrates a geocentric global orientation as described by Perlmutter? (Workplace) Senior management personnel from all countries are considered to be part of a single global resource pool. In a geocentric global orientation, the organization is viewed as a single international business with a global orientation. Global assignments based on business strategy Domestic: - none Multi-Domestic: - average performer/home country national (expatriate) to transfer technology/maintain control; no job back home Multinational: - best performer/expatriate sent abroad; inpatriate brought to headquarters -highly integrated but learn little about local culture -re-entry a bit easier Global: - transpatriates who understand world; organizational development is key -experience helps career! Global assignments Based on business strategy How has the sustainability movement changed organizations' relation to their stakeholders? (Workplace) Organizations now consider a broader range of stakeholders and give them a more active role in shaping their policies and goals. Sustainability has expanded both who the significant stakeholders are and how the organization interacts with them. Instead of just those with a direct financial stake in the organization, "stakeholders" now also includes those affecting or affected by an organization's social and environmental value. Sustainability also expands the ways in which the organization interacts with its stakeholders, who now play a more active role in helping it define and implement everything from individual projects to larger corporate social responsibility strategy and goals. What HR task is typically required by a multidomestic corporation? (Workplace) Coordinating HR activities between the home and host countries. A multidomestic corporation is similar to a portfolio of independent businesses. Headquarters is in the home country, but over time the divisions achieve more autonomy. At this stage, HR is involved in coordinating HR activities with the goal of consistency while remaining flexible with local law and culture. Four-Layer Model of Diversity (Gardenswartz & Rowe) (Workplace) FOUR LAYERS OF DIVERSITY ORGANIZATIONAL DIMENSIONS (Outer layer) -Functional level/Classification -Work content/Field -Division/Department Unit/Group -Seniority -Work location -Union Affiliation -Management status EXTERNAL DIMENSIONS (Third layer) -Geographic Location -Income -Personal habits -Recreations habits -Religion -Educational background -Work Experience -Appearance -Parental Status -Marital Status INTERNAL DIMENSIONS (Second layer) -Age -Gender -Sexual orientation -Physical ability -Ethnicity -Race PERSONALITY (Middle/Center) What is the underlying rationale for devising the four-layer model of diversity? (Workplace) It provides a framework for understanding the range and complexity of diversity issues. Gardenswartz and Rowe's model attempts to provide a thorough, inclusive definition of diversity. It offers a useful framework for understanding the range and complexity of the issue of diversity. Perhaps the greatest benefit of this model is that it underscores the fact that we are all multidimensional.