Exam 2: Strategy and Human Resources Planning

Which of the following best describes forecasting human resources needs?

Identify and briefly describe three strategies that managers frequently use to cope with a labour shortage.

Manning Logistics laid off 9 employees from data-entry positions in its finance division. Two weeks later it hired 15 employees into data-entry positions in the inventory division. What mistake has the company committed?

Which of the following lists current jobholders and identifies possible replacements?

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

In unionized firms, layoffs are typically based on performance.

Markov analysis is a systematic monitoring of the major external forces influencing an organization.

The mission statement of an organization is a description of the organization's vision and values.

Attrition and early retirement are means for organizations to reduce excess labour.

On the entrance to Mac Pencils' factory are the words "to provide the world with high-quality and dependable pencils." This is an example of 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 at the centre of the 7-S Model?

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?

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?

SWOT analysis includes the strengths only for strategy formulation purposes.

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.

An organization that states that teamwork and working together are important in their strategy but gives bonuses to individuals who excel independently is an example of which of the following?

What is benchmarking?

Economic factors in environmental scanning include general and global conditions.

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