SHRM-Business Acumen Questions and Answers Latest (2024 / 2025) (Verified Answers by Expert)
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Course
SHRM-Business Acumen
Institution
SHRM-Business Acumen
SHRM-Business Acumen Questions and Answers Latest (2024 / 2025) (Verified Answers by Expert) Business Acumen Competency
ANS The Business Acumen competency allows HR professionals to apply knowledge of an
organization's business model and competitive situation when solving workforce problems. It
...
ANS This model is used to identify opportunities andthreats, foresee possible changes in the
competitive landscape, and plan strategy.
-threat of substitution, bargaining power of suppliers, bargaining power of buyers,threat of
entry, rivalry among competitors
10. MP 5 forces -Threat of Substitution
ANS How easy is it for a competitor to capturecustomers by offering a similar product or a
product that satisfies the same need but perhaps in a different way? If the threat is high, an
organization may be forcedinto competing on price, and HR will need to develop a strategy that
promotes costefficiency. If the threat is low, the organization will have more capital to invest. HR
may focus on developing an entrepreneurial culture.
11. MP 5 Forces - Threat of Entry
ANS How easy is it for a new competitor to enter the industry? If the threat of entry is high,
management and the workforce must benimble. HR professionals must examine the
organization's structure to support rapiddecision making and response.
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