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CHRP Test Questions & Answers 2024/2025 Strategy - ANSWERSis the formulation of organizational missions, goals, objectives, and action plans for achievement that explicitly recognizes the competition and the impact of outside environmental forces. Strategy defines the organization's int...

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CHRP Test Questions & Answers
2024/2025

Strategy - ANSWERSis the formulation of organizational

missions, goals, objectives, and action plans for

achievement that explicitly recognizes the

competition and the impact of outside

environmental forces.



Strategy defines the organization's intentions.



Strategy Formulation - ANSWERSThe process of conceptualizing the organization's mission, identifying its
strategy, and developing long-range organizational performance goals.



Strategy Implementation - ANSWERSThe act and acts of putting long-, mid- and short-range plans into
place. These are the activities that employees and managers undertake to enact the strategic plan and
achieve performance goals.



The actions HR, Manager and employees undertake



long range could be 8 years

mid range span 5 years

short range could be 1-2 years



Also known as the "doing" launching the plans developed during the strategy formulation process,
launching teams, taking the steps towards the realization of the organizations goals



Three types of resources - ANSWERS

, Restructuring Strategies - ANSWERSrestructuring is the corporate management term for the act of re-
organizing the legal ownership operational or other structures of a company for the purpose of making it
more profitable or better organized for its present needs



Turnaround strategy - ANSWERSa strategy that reverses a firm's decline in performance and returns it to
growth and profitability.



An attempt to increase the viability of an organization.



Increase the viability of the corporation for business unit turnaround strategies examine individual
business processes and what the corporation is looking to undertake overall from those examinations we
then try to determine the best HR solutions to increase the viability or sustainability of the business
and/or corporation free example we may undertake a swot analysis that examines the corporations
strengths weaknesses opportunities and threats turnaround strategies ask us to look at the larger
perspective



Divestiture Strategy - ANSWERSThe sale of a division or part of an organization



Divestiture is where apart of the business or corporation is sold for example if the corporation sells or
investigates selling the sales department in one or all of its businesses then HR will need to seek the
means of outsourcing and sales reps similarly instead of divesting the sales department HR may
investigate changing the pay levels or structure of the department or recruit different talent or solution
divestiture are typically enacted in order to maximize profit either by eliminating underperforming
aspects of the company or by maximizing savings that I can be offered by outsourcing aspect of the
company sometimes corporations will change direction making a service or department either
redundant or a necessary diversity off of that service or department will allow the company to
streamline its operations and focus resources on the core business where it will better impact overall
corporate



liquidation - ANSWERSthe termination of a business and the sale of its assets



Liquidation refers to terminating a business and selling its assets liquidation does not mean the
organization has it altogether gone bankrupt just at the decision has been made to sell parts of the
business of the corporation does not need or want anymore possibly in a piecemeal fashion liquidating
parts of the company for example may allow the corporation to obtain the resources necessary to fund
another part of the corporation or to fund the activities of another part of the business that is showing

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