Exam 2: Strategy and Human Resources Planning

Value creation is what the firm adds to a product or service by virtue of making it; it's the amount of benefits provided by the product or service once the costs of making it are subtracted.

When an organization monitors demographic and labour market trends as well as technological and IT changes, it is most likely performing which of the following?

Organizational core values are the strong enduring beliefs and principles that a company uses as a foundation for its decisions.

Benchmarking is the process of comparing the organization's processes and practices with those of other companies.

HR planning is the process of setting major organizational objectives and developing comprehensive plans to achieve those objectives.

Replacement charts are listings of current jobholders who are potential replacements if an opening occurs.

Kappa Technology is a firm in the high-technology sector. It needs to hire individuals with very specific knowledge and abilities, and it needs to do so quickly. Which aspect of employee forecasting will be most important for this company?

What is an important difference between small and large businesses in terms of alignment between organization and people strategies?

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 is the best strategy for Avie to follow with respect to workers on the third shift?

What are the three Cs in strategic planning?

HR managers must be concerned with aligning HR planning and which of the following?

Organization Z is planning its future. In the process, the firm is making decisions such as what type of market it wants to be the leader in and what path to take to achieve this goal. What is Organization Z doing?

What is a major reason why many mergers do not go well?

Trend analysis relies on a single business factor.

Which of the following can be used to classify different skill groups in an organization by the degree to which they create strategic value and are unique?

Human resources planning plays a key role in organizational strategy implementation because organizational leaders must make decisions regarding resource allocations to human capital, among other things.

Which statement best describes the skills of contract labour workers?

National and regional unemployment rates are often considered a general barometer of labour supply.

Over time, organizations may try to reduce their workforce by relying on attrition.

The Delphi technique works best in organizations where dynamic technological changes affect staffing levels.