HUMAN RESOURCE MANAGEMENT EXAM 1
QUESTIONS AND ANSWERS.
For publicly traded companies, the true owners are the ____________
Correct Answer -shareholders
___________ are required for both publicly traded companies and non
profits
Correct Answer -governing boards
_________- direction of firm in general. Determines what kid of businesses
in which the firm will complete
Correct Answer -corporate strategy
___________- how will firm compete in each market where it conducts
business
Correct Answer -business strategy
___________- how will each functional area be managed- marketing,
finance, legal, and human resources
Correct Answer -functional strategy
What are the three major strategies that influence HR?
Correct Answer -growth, stability, and retrenchment
_________- expansion of products and services. Can be done internally or
externally
Correct Answer -growth
,___________- maintain current level of products and services
Correct Answer -stability
____________- reduce the level of products and services. Current
operations are not effective and major changes must be made.
Correct Answer -retrenchment
recruitment of employees, training of employees, and merging two work
forces are common problems associated with ____________
Correct Answer -growth strategy
___________- Occurs when an organization adds new products and
services.
Correct Answer -Diversification Strategy
Diversification strategies can either be ___________ or _____________
Correct Answer -related or unrelated
_________- will own business or have product lines that are similar
Correct Answer -Related diversification strategy
___________- will own businesses or have product lines that are very
different
Correct Answer -unrelated diversification strategy
________- managers in any organization should try to match the
organization's strategy with the basic condition of its environment
Correct Answer -adaptation model
, What are the four basic strategies of adaptation model?
Correct Answer -defender, prospector, analyzer, and reactor
__________: works best in a stable environment.
-the goal is to create a relatively narrow niche in the market
Correct Answer -defender strategy
__________: works best when environment is dynamic
-firms are on constant alert for new ideas, products, and opportunities
Correct Answer -prospector strategy
________: falls between the defender and prospector strategies
-works best in a relatively stable environment
-will take advantage of new markets while maintaining a nucleus of
traditional core products
Correct Answer -analyzer strategy
________: is seen as a strategic failure
-an organization either ignores its environment or reacts in an
inappropriate way
Correct Answer -reactor strategy
________- provide the best service or product at the lowest prices
Correct Answer -cost leadership strategy
_________- focus on having superior quality or service, even if prices are
higher
Correct Answer -differentiation strategy
QUESTIONS AND ANSWERS.
For publicly traded companies, the true owners are the ____________
Correct Answer -shareholders
___________ are required for both publicly traded companies and non
profits
Correct Answer -governing boards
_________- direction of firm in general. Determines what kid of businesses
in which the firm will complete
Correct Answer -corporate strategy
___________- how will firm compete in each market where it conducts
business
Correct Answer -business strategy
___________- how will each functional area be managed- marketing,
finance, legal, and human resources
Correct Answer -functional strategy
What are the three major strategies that influence HR?
Correct Answer -growth, stability, and retrenchment
_________- expansion of products and services. Can be done internally or
externally
Correct Answer -growth
,___________- maintain current level of products and services
Correct Answer -stability
____________- reduce the level of products and services. Current
operations are not effective and major changes must be made.
Correct Answer -retrenchment
recruitment of employees, training of employees, and merging two work
forces are common problems associated with ____________
Correct Answer -growth strategy
___________- Occurs when an organization adds new products and
services.
Correct Answer -Diversification Strategy
Diversification strategies can either be ___________ or _____________
Correct Answer -related or unrelated
_________- will own business or have product lines that are similar
Correct Answer -Related diversification strategy
___________- will own businesses or have product lines that are very
different
Correct Answer -unrelated diversification strategy
________- managers in any organization should try to match the
organization's strategy with the basic condition of its environment
Correct Answer -adaptation model
, What are the four basic strategies of adaptation model?
Correct Answer -defender, prospector, analyzer, and reactor
__________: works best in a stable environment.
-the goal is to create a relatively narrow niche in the market
Correct Answer -defender strategy
__________: works best when environment is dynamic
-firms are on constant alert for new ideas, products, and opportunities
Correct Answer -prospector strategy
________: falls between the defender and prospector strategies
-works best in a relatively stable environment
-will take advantage of new markets while maintaining a nucleus of
traditional core products
Correct Answer -analyzer strategy
________: is seen as a strategic failure
-an organization either ignores its environment or reacts in an
inappropriate way
Correct Answer -reactor strategy
________- provide the best service or product at the lowest prices
Correct Answer -cost leadership strategy
_________- focus on having superior quality or service, even if prices are
higher
Correct Answer -differentiation strategy
