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UARK - MGMT 2103 Exam 1 Questions and Answers
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UARK - MGMT 2103 Exam 1
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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
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