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Exam 2: Strategy-Driven Human Resource Management

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Question 1

Multiple Choice

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B & A Steel has endeavored to drive out all unnecessary business expenses in their steel industry operations.B&A is likely following a _________ strategy.

A) Niche
B) Cost leader
C) Focus leader
D) Differentiation
E) Price leader

F) A) and E)
G) A) and D)

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Question 2

Multiple Choice

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What four components are required when writing an objective?

A) Singular,specific,trackable performance,realistic
B) Scientific,singular,target date,short
C) Singular,specific,measurable,target date
D) Specific,trackable performance,measurable,achievable
E) Specific,singular,measurable,achievable

F) B) and D)
G) A) and C)

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C

Question 3

Multiple Choice

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Ferrari is well-known for following this generic strategy type:

The Board of Directors makes employment decisions,such as hiring and firing top managers.

__________ have more power to affect today's businesses today,partly due to purchasing power.

HRM is a critical component of meeting organizational goals.

What major external business force to a significant extent determines what acceptable business practices for the organization are?

According to the textbook,there are three general strategy types for businesses.Identify each strategy and explain the distinction of each strategy.

When a company decides to follow a cost leadership strategy,HRM is mostly concerned with _______________.

Coca-Cola is an example of a cost leader.

Provide a detailed summary of the purpose of visions and mission statements in organizations.How do they work,and what is the outcome of successfully crafting visions and missions?

__________ are the resource that gives us a powerful competitive advantage over our rival firms.

Influences from outside the organization are easily controlled.

There is only one "best" structure.

An analysis of the power of buyers will determine if a company has bargaining power with its suppliers from which they buy.

In today's business world,worldwide industries have more competition and more capability than ever before.

Strategic management's success requires a commitment to a defined set of objectives by managers.

William,the HR director,has begun to review his company's HPWS alignment with the overall company strategy in order to determine what value HR is providing to the firm.William is most likely working on a(n) :

The "implementing,monitoring and evaluating" step in strategic management uses the process of _______,which creates mechanisms to ensure that objectives are achieved.

In the past few years,the Acme Global Corporation has been fortunate to have a strong talent pool available from which it can draw employees.This represents the influence of _______ in the external environment on the organization.