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MGMT 2103. Exam 1 Questions and Answers 100% correct
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Exam of 8 pages for the course UARK MGMT 2103 at UARK MGMT 2103 (MGMT 2103. Exam 1)
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MGMT 2103. Exam 1HR Strategy - answerA system of human resource practices for a particular job or
collection of jobs aimed at the best employee performance possibilities to meet the
firm's ultimate goal
What is a low cost strategy? - answerReduction of cost so you charge less than your
competitors
What is a differentiation strategy? - answerConvincing the market that your product is
different or superior from competitors and charging a premium
What is a core capability? - answerThe strategic resources that give a company a
competitive advantage
How do you gain greater sources of competitive advantage? - answerFirm-specific skills
that are not general skills
Team work instead of individual work
HRM practices instead of individual practices
What does a core capability have to be for you to gain competitive advantage from it? -
answerRIO
Rare
Inimitable
Organizational process support
What two dimensions differentiate human capital? - answerValue of human capital and
uniqueness of human capital
What are the four types of workers based on HR architecture? - answerStrategic
Knowledge Workers
Supporting Labor
Core Employees
Collaborative or Complementary Partners
What are strategic knowledge workers? - answerEmployees who have unique skills
directly linked to the company's strategy
What are supporting labor employees? - answerEmployees who skills are of less
strategic value and are generally available in the labor market
, What are core employees? - answerEmployees with skills to perform a predefined job
that are quite valuable to the company, but not particularly unique or hard to replace
What are collaborative or complementary partners? - answerIndividuals and groups with
unique skills but those skills are not directly related to the company's strategy
What are the two generic human resource strategies? - answerCommitment and control
What is a commitment strategy? - answerDevelops a workforce that identifies with the
firm by providing them with independence and high pay
What is a control strategy? - answerSeeks to limit variability among the firm by
minimizing employee knowledge and skill requirements.
What are the principles of a control strategy? - answerIntense supervision and control,
little engagement, low skills, little training, standardized job tasks, limited
communication, low wages and benefits
What are the principles of a commitment strategy? - answerIncreased collaboration and
teamwork, shared information, learn in real time, greater knowledge and skills, and
rewards for performance
What is a high performance work system an example of? - answerA commitment
strategy
How does a HPWS fit internally? - answerShould work with other systems of the
organization
How does a HPWS fit externally? - answerBy reinforcing the behavior consistent with
company's strategy the strategy supports the strategic mission of the organization
What is the overall goal of selection? - answerTo minimize error in choosing employees
and to improve a company's competitive position
What are the two general selection methods? - answerPerson-job fit and person-
organization fit
What is a person-job fit selection measure? - answerJob analysis identifies required
individual competencies for job success
What is a person-organization fit selection measure? - answerThe degree to which
individuals are matched to the culture and values of the organization
What is reliability? - answerThe degree to which a measure is free from random error
What are some examples of sources of random error? - answerInterviews - distractions
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