Exam (elaborations)
SHRM-SCP Exam Study Prep Questions and Answers
- Course
- Institution
SHRM-SCP Exam Study Prep Questions and Answers
[Show more]
Content preview
SHRM-SCP Exam Study Prep Questionsand Answers
Shareholder (Workplace) - Answer -An owner of shares in a company.
A person who invests in a corporation by buying stock and is a partial owner.
Stakeholder (Workplace) - Answer -Stakeholder is Everyone.
Someone other than a stockholder or creditor who potentially has a claim on the cash
flows of the firm.
A person or organization with an interest in a particular place or issue.
Strategy (Workplace) - Answer -A long term plan. Are long term, are things that are long
term goals.
Strategies Do Not change that much.
A plan of action or policy designed to achieve a major or overall aim. Plan of action for
accomplishing an organization's overall and long-range goals.
Strategy
~Larger, overall plan that can comprise several tactics.
~Broad, "big picture"
~Over time, long periods of time, future-oriented.
~A year of advertising and marketing plans for a company
Stakeholder theory - Answer -A theory that holds that social responsibility is paying
attention to the interest of every affected stakeholder in every aspect of a firm's
operation.
Tactics (Workplace) - Answer -Short term steps on the way to long term plan/objectives.
Are short term. Are the companies short term goals.
Changes are made often.
,An action or strategy carefully planned to achieve a specific end.
The methods and actions taken to accomplish strategies.
Tactic
~Plans, tasks, or procedures that can be carried out; may be part of a larger strategy.
~Narrow, "close-up"
~Soon or present.
~One of the ads from the planned marketing strategy.
The difference between a strategy and a tactic: (Workplace) - Answer -A strategy is a
larger, overall plan that can comprise several tactics, which are smaller, focused, less
impactful plans that are part of the overall plan.
Engaging and Preparing Stakeholder - Answer --SWOT
-Multi Criteria
-Cost benefit
-Force field analysis
Compa-ratio - Answer -Pay rate divided by the midpoint of the pay range.
i.e. Given a pay range with a minimum of $16.00 per hour and a maximum of $20.00
per hour, the midpoint is $18.00 per hour. The Compa Ratios for employees A, B, C,
and D would be as follows:
$16/$18 = .89 or 89% - Employee A earns $16.
$16.50/$18 = .92 or 92% - Employee B earns $16.50
$18/$18 = 1.00 or 100% - Employee C earns $18.00
$19/$18 = 1.06 or 106% - Employee D earns $19
Yield Ratio - Answer -a ratio that expresses the percentage of applicants who
successfully move from one stage of the recruitment and selection process to the next.
Yield ratio in HR shows the percentage of candidates from the recruitment sources that
were selected for the next stage of a hiring process. In simple words yield ratios show
the efficiency of the certain recruitment method. Information about yield ratio allows HR.
KPI-Key Performance Indicator
Yield ratio = Number of leads from Recruitment Method/Number of candidates invited to
interview x 100%
Qualified Applicants/Total Applicants
Female Applicants/Total Applicants
Offers Extended/Final Interviews
Minority Applicants/Total Applicants
,ROI - Answer -Return on investment
Gain from Investment - Cost of Investment/Cost of Investment
ROI ex: Loaned $250.00
$500 - $250 = $250.00
You made 50% ROI
Profitability ratio for a specific investment, such as a capital expense project. Its usually
used to compare options.
ROI - Answer -
Globalization (Workplace) - Answer -Status of growing interconnectedness and
interdependency among countries, people, markets and organizations worldwide.
The process by which businesses or other organizations develop international influence
or start operating on an international scale.
Growth to a global or worldwide scale.
Globalization (Workplace) - Answer -Actions or processes that involve the entire world
and result in making something worldwide in scope.
The process by which businesses or other organizations develop international influence
or start operating on an international scale.
Others characterize the dimensions of globalization as a web of interconnectedness of
the movement of people (labor) and knowledge (technology) across borders.
Thomas L. Friedman calls it Globalization 3.0, when PESTLE, political, economic,
social, technological, legal and environmental all converged.
Global organization (Workplace) - Answer -A global organization is one whose every
process, action, and decision is firmly rooted in a carefully conceived global strategy.
The new global enterprise may be a corporation, a governmental agency, a
nongovernmental organization, a nonprofit, an association or an educational institution.
An organization that chooses to locate a facility based on the ability to effectively,
efficiently, and flexibly produce a product or service, using cultural differences as an
advantage.
An organization that operates and competes in more than one country.
, A global HR professional from a low power distance culture is planning to conduct a
needs assessment in a high power distance country. What is the global HR professional
likely to discover? (HR Competencies) - Answer -Skill deficiencies may not be
discussed openly.
Culture will play a key role in the needs assessment. In a high power distance country,
individuals may be reluctant to share skill deficiencies for fear of losing face. Needs
analyses may be less effective if conducted participatively, and decisions regarding who
should participate in training may be based on group membership.
Which growth strategy is commonly used to accelerate the path to globalization?
(Workplace) - Answer -Alliances
Alliances, partnerships, and acquisitions are vehicles that can accelerate the path to
globalization.
Alliances (Workplace) - Answer -An agreement between 2 or more countries to help
each other out in war.
Alliances, partnerships, and acquisitions are vehicles that can accelerate the path to
globalization.
Which growth strategy is commonly used to accelerate the path to globalization? -
Answer -Alliances
Pull factors (Workplace) - Answer -Factors that induce people to move to a new
location/another location.
Positive conditions and perceptions that effectively attract people to new locales from
other areas.
Which of the following is a "push factor" for global expansion? (Workplace) - Answer -
Need for new markets
Organizations are pushed toward globalization in reaction to changes in the business
environment (such as limited market opportunities in their home countries). The other
factors listed here are "pull factors." Organizations are pulled toward globalization
through the promise of achieving greater organizational value.
Which of the following is considered a "pull factor" in attracting organizations toward
globalization? (Workplace) - Answer -Greater strategic control
A "pull" globalization factor is an attribute of globalization that an organization wants to
achieve--in this case, greater control over strategic goals. The other factors are "push"
factors, ones that oblige an organization to go global to remain competitive.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller millyphilip. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $15.49. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
53022 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now