Exam (elaborations)
MGMT 330 Exam #1 questions with correct answers
- Course
- Institution
MGMT 330 Exam #1 questions with correct answers
[Show more]
Content preview
MGMT 330 Exam #1What 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.
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 BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
83750 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now