Exam (elaborations)
MGMT 2103. Exam 1 Questions and Answers 100% correct
- Course
- Institution
Exam of 8 pages for the course UARK MGMT 2103 at UARK MGMT 2103 (MGMT 2103. Exam 1)
[Show more]
Content preview
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
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 julianah420. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $12.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
75391 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now