EXAM NEWEST VERSION QUESTIONS AND CORRECT
DETAILEDANSWERS |ALREADYGRADED A+
Business Strategy - Answer ✔✔ - The collection of decision, approaches, and activities that
allow an organization to complete and win.
Cost Leadership Strategy - Answer ✔✔ - Focusing business priories on providing a lower-
cost product or service.
Differentiation Strategy - Answer ✔✔ - Providing innovative, exceptional, and high quality
products and/or services to customers.
Niche-Focused Strategy - Answer ✔✔ - Targeting business priorities toward addressing a
specific section of the market
Hybrid Strategy - Answer ✔✔ - Employing a combination of cost-leadership,
differentiation and niche-focused business strategies.
Critical Success Factors - Answer ✔✔ - Capabilities, activities, customer perceptions and
market positions that allow an organization to out-compete its rivals.
Total rewards strategy - Answer ✔✔ - The combination of pay forms, plans, policies and
practices that enable long-term organizational performance.
Total Reward Content Strategy - Answer ✔✔ - Specifies the type, level and combination of
rewards offered to employees.
, Reward Form Combinations Strategy - Answer ✔✔ - The reward forms offered (cash,
benefits, etc.) and the way in which they relate to each other.
Reward Level Strategy - Answer ✔✔ - How much is being offered?
Absolute level - Answer ✔✔ - The reward can be defined.
Relative Level - Answer ✔✔ - States the rewards strategy as greater than, equal to, or less
than some labor market reference point.
Centralized approach - Answer ✔✔ - Human Resources makes all the decisions
Decentralized approach - Answer ✔✔ - Decisions are made by the employee's immediate
supervisor or manager.
Job Analysis - Answer ✔✔ - The process of systematically analyzing positions that result
in completed work in organizations.
Traditional interview method - Answer ✔✔ - The job analyst asks the job incumbent
preset questions about the content, skills needed and time spent on activities in the job.
Panel Interview - Answer ✔✔ - Multiple job incumbents (and sometime multiple job
analysts) all meet together to analyze the job.
Custom Questionnaires - Answer ✔✔ - A series of questions that job incumbents complete
on their own.