Exam 2: Strategy and Human Resources Planning

Which of the following best describes the core values of a company?

SWOT analysis includes the strengths only for strategy formulation purposes.

What are the most important factors to consider when scanning the environment in strategic planning?

Which term refers to the integrated knowledge sets within an organization that distinguish it from its competitors and deliver value to customers?

What is benchmarking?

Scenario 2.1 Blockbuster Canada was the first of its kind in Canada in the movie and games rental business and operated for more than 21 years. However, with the advent of more modern technology accessible mainly through Netflix and Rogers On Demand, Blockbuster struggled to stay relevant in a tech-savvy environment where videos and games could now be rented conveniently from the comfort of one's couch via computer or TV. Despite efforts to try to stay relevant they did not leverage technology that had become an important part of their consumer base's daily lives. As a result, Blockbuster was not able to fight off the competition. -Refer to Scenario 2.1. Blockbuster Canada managers could have successfully advanced the company and remained relevant by focusing on which of the following?

Which term refers to the examination of the attitudes and activities of a company's workforce?

Attrition is the fastest way to achieve workforce reduction.

Scenario 2.2 Avie Products Inc. is planning to add a third shift to its production schedule. It currently has 450 workers involved in all aspects of its fertilizer business, best done in Canada. A recent surge in demand from its global customers is driving the need for more workers; however, Simi Meher, the CEO, is concerned that the surge may be temporary, especially in light of the recent economic downturns in the global environment where Avie does business. -Refer to Scenario 2.2. What would assist Avie in determining how many additional workers it would need for the third shift?

Scenario 2.1 Blockbuster Canada was the first of its kind in Canada in the movie and games rental business and operated for more than 21 years. However, with the advent of more modern technology accessible mainly through Netflix and Rogers On Demand, Blockbuster struggled to stay relevant in a tech-savvy environment where videos and games could now be rented conveniently from the comfort of one's couch via computer or TV. Despite efforts to try to stay relevant they did not leverage technology that had become an important part of their consumer base's daily lives. As a result, Blockbuster was not able to fight off the competition. -Refer to Scenario 2.1. To remain competitive Blockbuster Canada needed to systematically monitor the major external forces influencing the movie/game rental business. Which of the following would be important to its success?

Which process refers to the examination of the attitudes and activities of a company's workforce?

Trend analysis is a qualitative approach to labour demand forecasting.

Eldorado Electronics wants to move from the stagnant calculator industry into the smart phone industry. To do so, however, it would have to make significant changes to its approach to product development in order to gain an edge in this competitive industry. What is the smartest next step for Eldorado Electronics?

Internal analysis provides strategic decision makers with an inventory of organizational skills and resources.

Smith Frozen Foods performs a yearly employee survey to assess how its employees feel about safety on the job, the comfort of the working conditions, and their general level of satisfaction with their work, managers, and coworkers. What is Smith Frozen Foods most likely performing?

Human resources planning (HRP)is the conducting of recruitment and selection methods according to a strategic plan.

In what way can HR best help ensure that a strategic alliance or joint venture goes smoothly in the beginning?

Which of the following is the process of identifying, developing, and tracking key individuals so that they may eventually assume top-level positions?

Markov analysis focuses on the number of employees in particular jobs and their skill levels, compensation, and job tenure.

In unionized firms, layoffs are typically based on performance.