Exam (elaborations)
UARK - MGMT 2103 Exam 1 Questions and Answers
- Course
- Institution
UARK - MGMT 2103 Exam 1
[Show more]
Content preview
UARK - MGMT 2103 Exam 1Porter's Strategy Typology - answercompetitive advantage results from creating value in
one of 2 ways
-low cost strategy
-differentiation strategy
Low Cost Strategy - answercreate value by reducing cost and charging less than
competitors (Walmart)
Differentiation Strategy - answercreate value by convincing the market that your
product/service is different from competitors and charging a premium
Core Capabilities - answerthe strategic resources leveraged to achieve strategic
objectives: "a harmonized combination of multiple resources and skills that distinguish a
firm in the marketplace"
-valuable, rare and difficult to imitate by competitors
Core Capabilities to Become Sources of Sustained Competitive Advantage - answerV-
Is the resource Valuable?
R- Is the resource Rare?
I- Is the resource Inimitable
O- Are there Organizational processes in place to support the valued resources?
"Organized to exploit"
2 Demensions of Human Capital - answer-Value of Human Capital
-Uniqueness of Human Capital
Value of Human Capital - answer"potential to contribute to...human capital"
Uniqueness of Human Capital - answerare the skills and knowledge needed to perform
firm-specific or general?
4 Types of Human Capital Workers - answer1. Strategic Knowledge Workers
2. Supporting Labor
3. Core Employees
4. Collaboration/Complementary/Alliance Partners
Strategic Knowledge Workers - answeremployees have unique skills that are directly
linked to the company's strategy
-ex: top management
, High Uniqueness High Value
Supporting Labor - answeremployees whose skills are of less strategic value and
generally available in the labor market
-ex: clerical workers
Low Uniqueness Low Value
Core Employees - answeremployees with skills to perform a predefined job that are
quite valuable to a company, but not particularly unique or difficult to replace
-ex: sales people
Low uniqueness High Value
Collaboration/Complementary/Alliance Partners - answerindividuals and groups with
unique skills, but those skills are not directly related to a companies core strategy
-ex: consultants
Hugh Uniqueness Low Value
Workers in the Human Capital Architecture Square - answer-*Strategic Knowledge
Worker* =high uniqueness/ strategic value, internalization, relational
-*Collab. Partners* = high uniqueness, low strategic value, externalization, relational
-*Supporting Worker* = low uniqueness/strategic, externalization, transactional
-*Core Worker* = low uniqueness, high strategic, internalization, transactional
2 Generic HR Strategies - answer-Control
-Commitment
Control - answera specific combination of HR practices, work structures, processes that
minimizes employee knowledge and skill requirements and seeks to limit the variability
of performance across people
Commitment - answerfocus on developing a workforce that identifies with the firm,
enhances attachment
Principles of a Control Oriented Work System of the 2 Generic HR Strategies - answer-
Egalitarianism/Engagement
-Knowledge Development
-Shared Information
-Performance-Reward Linkage
Egalitarianism/Engagement (HR Strategies) - answervery little employee influence over
"management" decisions, no formal employee complaint and grievances management,
intense supervision/control
Knowledge Development (HR Strategies) - answerlow skill requirements, limited training
efforts, job tasks narrowly defined or standardized
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $13.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
81989 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now