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CHRP Exam - Strategy| Questions & Correct Verified Answers
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CHRP Exam - Strategy| Questions &Correct Verified Answers
Hard objectives - ✔refer to the goals that express, in measureable terms what
an organizations intend to achieve
Soft objectives - ✔refer to goals that define the targets of social conduct for the
organization and may not be quantifiable
competitive advantage - ✔refer to those organizational characteristics that enable it to
earn higher rates of profits than its competitors
Characteristics of competitive advantage - ✔tangible assets, intangible assets,
capabilities, core compentencies, strategic implementation, program, procedures
Strategic plan process - ✔(1) gather facts (2) SWOT analysis (3) Review Inputs (4)
Strategic Matrix (5) Define Strategies (6) Review and adjust
Strategic HR management - ✔Integrating human resource management strategies and
systems to achieve the overall mission, strategies, and success of the firm while meeting
the needs of employees and other stakeholders
The fundamental aim of strategic HRM - ✔(1) generate strategic capability through
skilled, committed and engaged employees
(2) develop plans of intent which define means to achieve ends
(3) focus on the long term allocation of organizational resources that match those
resources and capabilities to the external environment
Strategic HR Planning - ✔Overall purpose is to:
, 1) Ensure adequate human resources to meet the strategic goals and operational plans of
the organization- the right people with the right skills at the right time
2) Keep current with the working environment, the social, economic, legislative,
and technological trends that impact on human resources
3) Maintain flexibility so that the organization can manage change if the future
How does strategic HR planning seek to predict the future HR management needs? -
✔Analysis of the organizations current human resources, the external labour market and
the future HR environment
PESTD - ✔The POLITICAL, ECONOMIC, SOCIAL, TECHNOLOGICAL and DEMOGRAPHIC analysis
is a framework of macro-environmental factors used in the environment scanning step in the
strategic planning process
Other frameworks in additional to PESTD that can impact the organization's ability to achieve
its mission - ✔Ecological, legal, regulatory
Main reasons for PESTD analysis - ✔1) Enables the organization to identify opportunities
and gives warning of significant threats
2) Reveals significant changes within the organization's environment
Additional Main reasons for PETSD analysis - ✔3) Helps avoid putting resources into
projects that may no longer achieve their benefits for reasons beyond the organization's
control
4) It can help break the unconscious assumptions in the organization as it moves into
new markets, develops new products / services, or enter new countries
PESTD analysis factors - ✔Political factors, economic factors, social factors,
technological factors, demographic factors
Factors that affect organizations today - ✔Changing demographics, global economic
impacts on HR practices, automation and technology, continuous improvement
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