Question 1

Benchmarking and copying best practices does not lead to competitive advantage.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is not a test of whether a pay strategy is a source of competitive advantage?

Accepted Answer

A)  Alignment with business strategy 
B)  Cost effectiveness 
C)  Differentiation 
D)  Adding value 
A)  Alignment with business strategy 
B)  Cost effectiveness 
C)  Differentiation 
D)  Adding value

Question 3

An organization's strategy is defined by the tradeoffs in choices of what to do and what not to do.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements is not true?

Accepted Answer

A)  The effect of performance incentives depends on the context 
B)  Embedding compensation strategy in HR strategy affects results 
C)  Focusing on employee contributions vs other objectives is a best practice 
D)  The effect of paying more than competitors depends on the context 
A)  The effect of performance incentives depends on the context 
B)  Embedding compensation strategy in HR strategy affects results 
C)  Focusing on employee contributions vs other objectives is a best practice 
D)  The effect of paying more than competitors depends on the context

Question 5

Most firms do not have generic strategies but use a blend of cost and innovation.

Accepted Answer

A) True 
 B)False

Question 6

According to the Hudson survey,__________ is the single thing that would make them happier.

Accepted Answer

A)  more personal days and family leave 
B)  a more flexible work schedule 
C)  more money 
D)  better health insurance 
A)  more personal days and family leave 
B)  a more flexible work schedule 
C)  more money 
D)  better health insurance

Question 7

Which of the following is not one of the tests to determine if a pay strategy is a source of competitive advantage?

Accepted Answer

A)  Alignment of the pay system with the organization's business strategy 
B)  Differentiation of an organization's strategy from its competitors 
C)  Internal alignment of the pay strategy with the organization's strategy 
D)  External competitiveness of the pay system 
A)  Alignment of the pay system with the organization's business strategy 
B)  Differentiation of an organization's strategy from its competitors 
C)  Internal alignment of the pay strategy with the organization's strategy 
D)  External competitiveness of the pay system

Question 8

Trying to measure an ROI for any compensation strategy implies that

Accepted Answer

A)  it is possible to align and differentiate and still fail to add value. 
B)  people are "human capital," similar to other factors of production. 
C)  adding value is the most difficulty test. 
D)  value created as a result of costs is difficult to specify. 
A)  it is possible to align and differentiate and still fail to add value. 
B)  people are "human capital," similar to other factors of production. 
C)  adding value is the most difficulty test. 
D)  value created as a result of costs is difficult to specify.

Question 9

Flexible-generic job descriptions would most likely be used with a _____ strategy.

Accepted Answer

A)  innovator 
B)  customer-focused 
C)  differentiated 
D)  cost-cutter 
A)  innovator 
B)  customer-focused 
C)  differentiated 
D)  cost-cutter

Question 10

Research on the effects of pay level showed that pay level affects financial performance while how employees are paid has no effect.

Accepted Answer

A) True 
 B)False

Question 11

How an organization positions its total compensation against competitors is part of external competitiveness strategic choices.

Accepted Answer

A) True 
 B)False

Question 12

Compensation systems can be tailored to general business strategies.List and explain these strategies.

Accepted Answer

Compensation systems can be tailored to

Question 13

What is the first step in assessing total compensation implications?

Accepted Answer

The first step in assessing total compen

Question 14

The second step of developing a total compensation strategy is to:

Accepted Answer

A)  implement strategy. 
B)  assess total compensation implications. 
C)  estimate the cost of the strategy. 
D)  map a total compensation strategy. 
A)  implement strategy. 
B)  assess total compensation implications. 
C)  estimate the cost of the strategy. 
D)  map a total compensation strategy.

Question 15

_______ is to increasing variable pay as innovator is to market based pay.

Accepted Answer

A)  Cost-cutter 
B)  Customer-focused 
C)  Efficient 
D)  Competitive 
A)  Cost-cutter 
B)  Customer-focused 
C)  Efficient 
D)  Competitive

Question 16

Which of the following relationships within a pay system is accurate?

Accepted Answer

A)  Compensation objectives shape pay policies. 
B)  Pay policies determine the objectives of the pay system. 
C)  Organization strategies determine employee pay needs. 
D)  Pay policies form the compensation strategy of the organization. 
A)  Compensation objectives shape pay policies. 
B)  Pay policies determine the objectives of the pay system. 
C)  Organization strategies determine employee pay needs. 
D)  Pay policies form the compensation strategy of the organization.

Question 17

What are the different steps in formulating a total compensation strategy? List them in their order of occurrence.

Accepted Answer

There are four steps in formul

Question 18

In a high-performance system,pay strategy plays a lead,as opposed to support role.

Accepted Answer

A) True 
 B)False

Question 19

A compensation system using market-based pay is most likely to be part of a _____ strategy.

Accepted Answer

A)  innovator 
B)  cost-cutter 
C)  global 
D)  customer-focused 
A)  innovator 
B)  cost-cutter 
C)  global 
D)  customer-focused

Question 20

Research investigating high-performance workplaces found that performance-based pay _____ when combined with other high performance practices.

Accepted Answer

A)  improves attitudes and behaviors 
B)  shows large productivity improvements 
C)  reduces labor costs 
D)  has little effect on quality 
A)  improves attitudes and behaviors 
B)  shows large productivity improvements 
C)  reduces labor costs 
D)  has little effect on quality

Benchmarking and copying best practices does not lead to competitive advantage.

Which of the following is not a test of whether a pay strategy is a source of competitive advantage?

An organization's strategy is defined by the tradeoffs in choices of what to do and what not to do.

Which of the following statements is not true?

Most firms do not have generic strategies but use a blend of cost and innovation.

According to the Hudson survey,__________ is the single thing that would make them happier.

Which of the following is not one of the tests to determine if a pay strategy is a source of competitive advantage?

Trying to measure an ROI for any compensation strategy implies that

Flexible-generic job descriptions would most likely be used with a _____ strategy.

Research on the effects of pay level showed that pay level affects financial performance while how employees are paid has no effect.

How an organization positions its total compensation against competitors is part of external competitiveness strategic choices.

Compensation systems can be tailored to general business strategies.List and explain these strategies.

What is the first step in assessing total compensation implications?

The second step of developing a total compensation strategy is to:

_______ is to increasing variable pay as innovator is to market based pay.

Which of the following relationships within a pay system is accurate?

What are the different steps in formulating a total compensation strategy? List them in their order of occurrence.

In a high-performance system,pay strategy plays a lead,as opposed to support role.

A compensation system using market-based pay is most likely to be part of a _____ strategy.

Research investigating high-performance workplaces found that performance-based pay _____ when combined with other high performance practices.

The Pay Model

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Defining Competitiveness

Designing Pay Levels, mix, and Pay Structures

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Benefit Options

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters

Exam 2: Strategy: The Totality of Decisions

Benchmarking and copying best practices does not lead to competitive advantage.

Which of the following is not a test of whether a pay strategy is a source of competitive advantage?

An organization's strategy is defined by the tradeoffs in choices of what to do and what not to do.

Which of the following statements is not true?

Most firms do not have generic strategies but use a blend of cost and innovation.

According to the Hudson survey,__________ is the single thing that would make them happier.

Which of the following is not one of the tests to determine if a pay strategy is a source of competitive advantage?

Trying to measure an ROI for any compensation strategy implies that

Flexible-generic job descriptions would most likely be used with a _____ strategy.

Research on the effects of pay level showed that pay level affects financial performance while how employees are paid has no effect.

How an organization positions its total compensation against competitors is part of external competitiveness strategic choices.

Compensation systems can be tailored to general business strategies.List and explain these strategies.

What is the first step in assessing total compensation implications?

The second step of developing a total compensation strategy is to:

_______ is to increasing variable pay as innovator is to market based pay.

Which of the following relationships within a pay system is accurate?

What are the different steps in formulating a total compensation strategy? List them in their order of occurrence.

In a high-performance system,pay strategy plays a lead,as opposed to support role.

A compensation system using market-based pay is most likely to be part of a _____ strategy.

Research investigating high-performance workplaces found that performance-based pay _____ when combined with other high performance practices.

The Pay Model

Defining Internal Alignment

Job Analysis

Job-Based Structures and Job Evaluation

Person-Based Structures

Defining Competitiveness

Designing Pay Levels, mix, and Pay Structures

Pay-For-Performance: the Evidence

Pay-For-Performance Plans

Performance Appraisals

The Benefit Determination Process

Benefit Options

Compensation of Special Groups

Union Role in Wage and Salary Administration

International Pay Systems

Government and Legal Issues in Compensation

Management: Making It Work

Filters