MGMT 330 Exam #1
What are the different definitions of "HR"? - correct answer ✔✔HR is known for: performance enforcer,
administrative, sexual harassment, the butt of many jokes, rule makers, anonymous person on the other
end of the phone.
Organizations of all types require people to carry out the tasks to achieve organizational goals, the
policies, practices, and systems that influence employees' behavior, attitudes, and performance.
What is the difference between tactical and strategic HR? - correct answer ✔✔Tactical HR focus on small
and specific goals as well as recruitment/selection, training/development, performance management,
compensation. Strategic HR aligns sets of tactics to reach larger, company-wide goals and changes; #8 or
#9 most important function in a company.
Competitive Advantage - correct answer ✔✔A superiority gained by an organization when it can provide
the same value as its competitors but at a lower price, or can charge higher prices by providing greater
value through differentiation.
Opperational Effectiveness - correct answer ✔✔Any kind of practice which allows a business or other
organization to maximize the use of their inputs by developing products at a faster pace than
competitors or reducing defects, shift the productivity frontier outward, raising the bar for everyone, the
more benchmarking companies do the more their paths will converge.
Why operational effectiveness alone is not enough: by ignoring or subordinating strategy to determine
what activities should be done, organizations run the risk of investing significant time, money and
resources into improving operations and processes which are not necessarily the ones needed to create
a differentiated competitive position in the market.
Strategic Positioning - correct answer ✔✔The overall intended objectives and approach to a situation.
Capabilities - correct answer ✔✔A unique ability that a company acquires from its founders or develops
and that cannot be easily imitated.
, Resources - correct answer ✔✔An economic or productive factor required to accomplish an activity, or
as means to undertake an enterprise and achieve desired outcome.
What is the purpose of following the HR function: job design? - correct answer ✔✔Clearly identify the
competencies, requirements, tasks, and structure job for efficiency and employee satisfaction. What
knowledge, skills, abilities are required to perform this job? What competencies are needed? How much
autonomy does this job have?
What is the purpose of following the HR function: recruitment? - correct answer ✔✔Goal: maximize
quantity and quality of applicant pool. Where will we find people to fill this job? What sources do we
teach for employees. How do we attract people to work here? Who represents our company to potential
employees?
What is the purpose of following the HR function: selection? - correct answer ✔✔Goal: select
qualified/best applicant.
How does HR contribute to a sustained competitive advantage? - correct answer ✔✔1. Value: do
practices support strategy?
2. Rareness: cannot be commonly available.
3. Imitability: practices are easy to imitate, systems of practices are difficult to imitate.
What are Porter's Five Forces? - correct answer ✔✔1. Supplier power
2. Buyer power
3. Competitive rivalry
4. Threat of substitution
5. Threat of new entry
http://www.quickmba.com/strategy/porter.shtml
Variety based positioning - correct answer ✔✔Producing a subset of an industry's product or services.
What are the different definitions of "HR"? - correct answer ✔✔HR is known for: performance enforcer,
administrative, sexual harassment, the butt of many jokes, rule makers, anonymous person on the other
end of the phone.
Organizations of all types require people to carry out the tasks to achieve organizational goals, the
policies, practices, and systems that influence employees' behavior, attitudes, and performance.
What is the difference between tactical and strategic HR? - correct answer ✔✔Tactical HR focus on small
and specific goals as well as recruitment/selection, training/development, performance management,
compensation. Strategic HR aligns sets of tactics to reach larger, company-wide goals and changes; #8 or
#9 most important function in a company.
Competitive Advantage - correct answer ✔✔A superiority gained by an organization when it can provide
the same value as its competitors but at a lower price, or can charge higher prices by providing greater
value through differentiation.
Opperational Effectiveness - correct answer ✔✔Any kind of practice which allows a business or other
organization to maximize the use of their inputs by developing products at a faster pace than
competitors or reducing defects, shift the productivity frontier outward, raising the bar for everyone, the
more benchmarking companies do the more their paths will converge.
Why operational effectiveness alone is not enough: by ignoring or subordinating strategy to determine
what activities should be done, organizations run the risk of investing significant time, money and
resources into improving operations and processes which are not necessarily the ones needed to create
a differentiated competitive position in the market.
Strategic Positioning - correct answer ✔✔The overall intended objectives and approach to a situation.
Capabilities - correct answer ✔✔A unique ability that a company acquires from its founders or develops
and that cannot be easily imitated.
, Resources - correct answer ✔✔An economic or productive factor required to accomplish an activity, or
as means to undertake an enterprise and achieve desired outcome.
What is the purpose of following the HR function: job design? - correct answer ✔✔Clearly identify the
competencies, requirements, tasks, and structure job for efficiency and employee satisfaction. What
knowledge, skills, abilities are required to perform this job? What competencies are needed? How much
autonomy does this job have?
What is the purpose of following the HR function: recruitment? - correct answer ✔✔Goal: maximize
quantity and quality of applicant pool. Where will we find people to fill this job? What sources do we
teach for employees. How do we attract people to work here? Who represents our company to potential
employees?
What is the purpose of following the HR function: selection? - correct answer ✔✔Goal: select
qualified/best applicant.
How does HR contribute to a sustained competitive advantage? - correct answer ✔✔1. Value: do
practices support strategy?
2. Rareness: cannot be commonly available.
3. Imitability: practices are easy to imitate, systems of practices are difficult to imitate.
What are Porter's Five Forces? - correct answer ✔✔1. Supplier power
2. Buyer power
3. Competitive rivalry
4. Threat of substitution
5. Threat of new entry
http://www.quickmba.com/strategy/porter.shtml
Variety based positioning - correct answer ✔✔Producing a subset of an industry's product or services.
