Single/Flate-Rate System Rate System are often used for _____________________ - answer-Task-based jobs
Performance-based merit pay system - answer-Based on an employee's individual job performance
HR Strategy - answer-Involves the activities necessary for developing, implementing, managing, a...
SHRM-CP 2025
Single/Flate-Rate System Rate System are often used for _____________________ -
answer-Task-based jobs
Performance-based merit pay system - answer-Based on an employee's individual
job performance
HR Strategy - answer-Involves the activities necessary for developing,
implementing, managing, and evaluating the strategic direction required to achieve
organizational success and to create value for stakeholders
HR professionals must be able to: - answer-Identify and understand and contribute
to the strategic initiatives, plans, and direction for decision-making, as well as
contribute to the organizational strategy.
What is the role of strategy? - answer-one that aligns all functions in an organization
to "row together" toward defining
what is necessary for strategy? - answer-development of goals, initiatives, and
objectives
Strategy is - answer-the planning of long-range goals and actions to attain those
goals.
What aspects of the organization does strategy look at? - answer-Strengths,
weaknesses, vulnerabilities, competition, opportunities, external issues, and
influence
Henry Mintzberg - answer-"A theorist who argued that a manager in a firm needs to
carry out certain roles. He identified three min roles and these are interpersonal
roles, information roles and decision-making roles."
_________is necessary to set the direction and path for an organization, and
____________is required in leadership of the organization - answer-strategy; strategic
management
Why are 5-year operational and financial forecasts ineffective as strategic planning
tools? - answer-Because they assume there is not significant change in the
environmental, economic, and competitive conditions
it's important to ensure that all functions are aligned with the organization's
___________ - answer-mission and goals
Why is controlling drift important? - answer-Ensures that the organization is not
"coasting" along and is keeping up with the industry.
What does focusing on core competencies entail? - answer-Knowing what the
organization is good at and focusing efforts on those competencies
,What does using culture as a strategic level entail? - answer-Making sure the culture
of the organization aligns with the strategy
What does using structure as a strategic level entail? - answer-Making sure the
structure of the organization aligns with the strategy
The benefits of strategy - answer-1.helps map out allocation of resources
2. helps keep decision making and activities aligned
3. emphasizes that we should prioritize how to deploy resources
How can an organization fail to obtain the benefits of strategy? - answer-
mismanagement of the process or management of the strategy
What are some mistakes organizations can make when implementing strategy? -
answer-1. lack of involvement from management
2. lacking follow-through with the plan
3. Being too comfortable with the status quo
4. lack of communication throughout the organization
What is the organizational level of strategy? - answer-a vision of the future; what
the organization plans to grow into
What is the business unit level of strategy? - answer-how and where the
organization will create value for its stakeholders; the focus is on sectors, divisions,
regions, and product units
What is the operational level of strategy? - answer-the activities, actions, and
functions the organization takes to progress towards its vision.
HR is mainly involved in the ________ level of strategy? - answer-Operational
HR's __________ need to add add value and assist the business units - answer-
policies, programs, and processes
HR's role includes building bridges with both _____________ and _____________
stakeholders - answer-internal; external
The HR professional will need to address conflicting issues and seek a resolution
that is best for the _____________________ - answer-Organization and its strategy
What is the basic premise with strategy and management? - answer-To lead
activities that yield a great value
How is value in regards to strategy? - answer-what causes the organization to be
successful for stakeholders
Value Chain (Michael Porter) - answer-The process by which a business receives
materials and then adds value to the materials
,What is the end goal of the value chain? - answer-Create maximum value for the
least possible cost
HR administration as well as finance and IT are examples of __________ - answer-
secondary activities
Stakeholder Concept (R. Edward Freeman) - answer-Recognizes the different types
of values that an organization creates. Organizations and corporations should strive
to do right by all these stakeholders and that in doing so, the organization will
achieve true lasting success
The biggest role HR has in defining and creating value for its organization is
_____________ - answer-knowing the workforce
What are the 3 critical value-producing activities for HR? - answer-1. Knowing the
core competencies of talent
2. Knowing where to find talent and what is needed
3. Knowing the legal environment
Formulation of the strategy involves ____________ - answer-Gathering the data to
analyze
Development of the strategy involves ____________ - answer-Creating your plan to
gain a competitive advantage
The implementation stage of strategy involves ____________ - answer-Creating
objectives and initiatives that produce outcomes
The evaluation stage of strategy involves ____________ - answer-Accessing metrics
and achievements for stakeholders
Data gathering should be done _________ and ___________ the creation of the
strategic plan - answer-prior to; during
How do we keep an eye on all the critical elements surrounding the organization? -
answer-By asking :What should we be tracking?"
Environmental Scanning - answer-See what is happening in the environment around
you
PESTLE Analysis - answer-Analysis of the external political, economic, social,
technological, legal and environmental factors affecting an organization
Political Factors (PESTLE) - answer-How the government intervenes in the economy
Economic Factors (PESTLE) - answer-How organizations do business and how
profitable they are
Social Factors (PESTLE) - answer-Areas that involve shared belief and attitudes of
the population
, Technological Factors (PESTLE) - answer-How the technological landscape impacts
how we market our products
Environmental Factors (PESTLE) - answer-How the organization reduces its impact
on the environment
Legal Factors (PESTLE) - answer-What is and what is not legal to avoid fines,
embaressment, reputational damage
What are the 4 phases of the industry lifecycle? - answer-Introduction
Growth
Maturity
Decline
Porter's 5 Forces - answer-Industry Rivalry
Threat of new entrants
Threat of substitute products
Bargaining power of customers
Bargaining power of suppliers
Threat of new entrants - answer-When a company does so well that they attract
new competitors
Threat of substitutes - answer-The "knock-offs". Different products for the same
need.
Bargaining power of customers - answer-When customer order are large, they can
force the lowering of price
Bargaining power of suppliers - answer-If there aren't many options for materials,
the supplier can charge whatever they want
Industry Rivalry - answer-Competitors that influence our ability to succeed in the
marketplace
Investments should be evaluated on 3 things, they are: - answer-1. Period of time it
takes to reclaim the investment
2. What the payback amount will be
3. What impact there will be on cash flow
Growth-share matrix - answer-A portfolio method that evaluates a company's
strategic business units in terms of their market growth rate and relative market
share. SBUs are classified as stars, cash cows, question marks, or dogs.
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