Final Exam Study Set-SHRM-CP Questions and Answers 2023, Graded A+

Final Exam Study Set-SHRM-CP Questions and Answers 2023, Graded A+ Blake-Mouton Theory Highest to lowest (R to L, Top to Bottom): 1: Team Leader 2. Country Club 3. Middle of the Road 4. Authoritarian 5. Improverished Leader Hersey-Blanchard's Situational Leadership -No ideal leadership type, but style should match maturity of employees. -Flex to situation or to people involved. Fiedler's Contingency Theory -Certain leaderhip styles more favorable for certain situations. -Don't train/change leaders style-change situations. -leader-member relations -Task structure -Position power John Adair-Action Centered Leadership Effective leader accomplishes tasks through the efforts of the team. Dispersed Leadership AKA "Emergent leadership" Given a certain task a leader will emerge. Budget Types 1. Zero Based Budget 2. Incremental Budget 3. Formula Budgeting 4. Activity Based Budget Zero Based Budgeting -Justify entire budget and show how funding meets Org's goals. -Budget starts at 0 and all expenditures justified each new period. -Goals/units ranked by priority, then $ given. Incremental Budgeting Line Item Budgeting. Prior year budget basis for the next. Increased incrementally by a set %. Additional funds must be requested based on need. Formula Based Budgetting -Different units or operations receive varying %'s. -General funding is changed by specific amount units, budgets adjusted accordingly. Activity Based Budgetting -Not how much to divide $, but how much it costs to perform enterprise activities. -Funding may be allocated in strategic significance. Balanced Scorecard Measurement approach that provides an overall picture of an organization's performance in the following ways: Metrics from 4 organizational perspectives 1) Financial 2) Customer 3) Internal Business processes 4) Learning + Growth HR Strategic Process 1) Get the big picture 2) Conduct HR SWOT analysis 3) Develop HR Mission & Vision Statements 4) Conduct detailed HR analysis 5) Determine critical people issues. 6) Develop HR goals, metrics, consequences, & solutions. 7) Develop an implementation & evaluation plan. ADDIE Model A-Assess D-Design D-Develop I-Implement E-Evaluate (A)DDIE Assess-Difference between present and desired and what is contributing to the gap? A(D)DIE Design-Intervention-targets, audiences, objectives, and how will be measured. AD(D)IE Develop-The solution, who should be involved and how it will be delivered. ADD(I)E Implement- ADDI(E) Evaluate- TQM Top Quality Management W. Edwards Deming -Poor products essentially the fault of top managers and no one else. -Popular in Japan. -Deming award -Scored on 14 point system Joseph M. Juran -"Fitness to use" Reliability of product or service. -Trilogy-quality planning, quality control, quality ipmrovement Phillip B. Crosby -14 point program (Similar to Deming) -4 Absolutes: -Definition of quality -Prevention system -Peformance Standard (Zero Defects) -Measurement of quality (Cost of non-conformance) Systems Theory Inputs-Process-Outputs TOC Theory of Constraints-Elijah Goldratts book-The Goal Six Sigma Eliminates defects -not more than 3.4 defects per million opportunities DMAIC For EXISTING processes. Define, Measure, Analyze, Improve, Control DMADV For NEW processes. Define, Measure, Analyze, Design, Verify Workforce Analysis 1) Supply Analysis 2) Demand Analysis 3) Gap Analysis 4) Solution Analysis Supply Analysis The skill mix in an organization Future needs based on attrition and org. growth. Where are we now? What do we have? Demand Analysis Where do we want to be? What do we need? Gap Analysis What's lacking? What will we need in the future? (KSA's) Solution Analysis What can we afford? How will we get what we need? Delphi Technique Progressively collects info from a group on a preselected issue. Idea-survey, refine-repeat. Don't have to actually meet. Nominal Group Technique Accesses a variety of individuals to forecast ideas + assumptions, then prioritize issues -Face to face -Led by moderator. -Write down, round robin ideas. Replacement planning Short Term, Snapshot Succession planning Longer team, keeping talent in the pipeline Radicalism Believe that management-labor conflict is inherent in capitalism and resolved only change in the economic system. Pluralist Multiple forces at work in labor relationships, each with their own agenda. Unitarist Employers and employees can work together for common good. ILO 8 core standards UN Global Impact 10 Standards OECD Org for Economic Cooperation and Development. Addresses globalization. WTO World Trade Organization 4 Core standards Diaspora Global remittance Money sent "home" from migrants working in other countries. $414 billion in 2013. Demographic Dichotomy Workforce in emerging countries becoming disproportionately young, but in developing countries, aging rapidly. "Push" factors 1) Need for new markets 2) Increased cost pressures and competition. 3) Short falls in natural resources and talent supply. 4) Government policies 5) Trade agreements 6) Globalized supply chain. "Pull" Factors 1) Greater strategic control 2) Government policies that promote outward foreign investments. 3) Trade agreements. Greenfield Operation New operation from the ground up. Brownfield Operation Repurposing old operation Upstream Strategies Decisions made at HQ-workforce alignment, organizational development, knowledge and experience sharing. Downstream Strategies Decisions make at local level. GI - LR Matrix Global Integration - Local Responsiveness Driven by four factors: -Market Drivers -Cost Drivers -Governmental Drivers -Competitive Drivers Vertical Axis is Integration Horizontal Axis is LR Top L: Global-Strong links btwn HQ and subsidiaries. Top R: Transnational-Strong links between HQ and subsidiaries and amoung subsidiaries. Bottom L: International-Weak links between HQ and dependent subsidiaries. Bottom R: Multidomestic-Weak links between HQ and autonomous subsidiaries. Extent to which underlying operations such as IT, Finance, or HR integrate across locations. Global in GI-LR Matrix Strong links btwn HQ and subsidiaries -The firm view the world as a single, global market, and offers global products that have little or no national variation or that have been designed with customizable elements. Strategy, ideas, and processes emanate from HQ. Transnational in GI-LR Matrix Strong links between HQ and subsidiaries and amoung subsidiaries. -The firm locates its value chain activities in the most advantageous geographic locations. Subsidiaries are allowed to adapt global products and services to local markets. Best practices and knowledge are shared throughout the organization. International in GI-LR Matrix Weak links between HQ and dependent subsidiaries. -A firm exports products or services to foreign countries. The company may open production facilities or service centers, but the product/service, processes, and strategy are developed in the home country. Multidomestic in GI-LR Matrix Weak links between HQ and autonomous subsidiaries. -Organization is a decentralized portfolio of subsidiaries. Goals and strategies are developed locally because of competitive demands. Knowledge is shared on a local, rather than global level. Market Drivers in GI-LR -Homogeneity of customer needs. -Availability of global distribution networks. -Opportunities for shared marketing. Cost Drivers in GI-LR -Economies of scale -Transportation Cost -R&D costs -Transferrable technology advantanges Governmental Drivers in GI-LR -Trade policy -Technical standards and requirements -Regulatory climates Competitive Drivers in GI-LR Extent and methods of globalization by industry competitors. Ethnocentric -HQ keeps tight control -"One right way" -Management usually shares one ethnic background, which is different than subsidiaries. Polycentric -"Many best ways" -Subsidiaries allowed large amount of control as long as possible. Regiocentric Communication within Region are increased, but not as high as region to HQ. Geocentric -"Team way" -Transcends national borders. Schein's Model Cultures multiple layers -Artifacts and Products -Norms and values -Basic Assumptions Schein's Artifacts and Products Food, dress, architecture, humor, music -Obvious differences. Schein's Norms and Values -a cultures shared and stated sense of acceptable behaviors. Right and wrong. -a countrys rules and regulations or a companys mission and vision statements. Schein's Basic Assumptions -Cultures core beliefs about how the world ought to be. -"success, freedom, doing good" might mean different meanings. Hall's Theory -Low Context-What you say is what you mean. Not personal, just business. United States, UK, Canada. -High Context-What you say is not necessarily what you mean. No business until I get to know you personally. Require a great deal of background, complex, long standing. EX: China, Japan, France, many Latin American countries. Hofstede's Dimension of Culture Derived from research of IBM in 64 countries. 1) Power Distance 2) Individualism/Collectivism 3) Uncertainty avoidance 4) Masculine/Feminine 5) Short term/long term Trompenaar's & Hampden-Turner's Dilemmas 7 Dilemmas -Universal-particular -Individual to collectivist -Neutral-affective -sequential to synchronic -specific to diffuse -achieved to ascribed -internal to external Laissez Faire The employee is responsible for any taxes incurred. -May discourage candidates for high tax countries. Ad-Hoc Each expat employee negotiates own tax approach with company Tax Protection Org calculates assignee's hypothetical tax if they had remained home, compares with taxes abroad, and reimburses disparity. Tax Equalization Org ensures assignees tax is not better or worse than if they had stayed home. Civil Law Based on written codes (laws, rules, regulations) Common Law Based on judicial decisions over time Religious Law Based on religious belief and codes Totalization Agreements Designed to prevent double taxations ISO Internal Organization for Standardization ISO 9000 standards-standards that define, establish, and maintain a quality assurance system for manufacturing and service industries. ISO 31000 Released in 2009 Definitions related to risk More proactive, applies to broader range of orgs. COSO ERM Committee of Sponsoring Org -Created in US primarily for financial advising -Compliance oriented -COSO defines risk as having negative effect. -4 Categories of Risk -Strategy -Operations -Financial Reporting -Compliance Kaplan & Mike 3 categories of risk: -Internal and Preventable. -Strategy -External How risk is perceived The degree to which it can be managed