SHRM-SCP Exam Study Prep exam with complete solutions.
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Course
SHRM
Institution
SHRM
Shareholder (Workplace)
An owner of shares in a company.
A person who invests in a corporation by buying stock and is a partial owner.
Stakeholder (Workplace)
Stakeholder is Everyone.
Someone other than a stockholder or creditor who potentially has a claim on the cash flows of the fi...
SHRM-SCP Exam Study Prep exam with
complete solutions
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%
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
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