Question 1

Competitiveness is a company's ability to maintain and gain market share in its industry.

Accepted Answer

Competitiveness is defined as the ability of a company to maintain and increase its market share in a particular industry. Therefore, competitiveness is the extent to which a company can compete effectively with its rivals in attracting and retaining customers.

Question 2

A university degree is held by the vast majority of HRM professionals,many of whom also have completed postgraduate work.

Accepted Answer

According to research and surveys, a university degree is a common qualification among HRM professionals, and many also hold postgraduate degrees.

Question 3

Companies are now more and more interested in using intangible assets and human capital as a way to gain an advantage over competitors.

Accepted Answer

This statement is true. Companies are beginning to recognize the importance of intangible assets such as brand reputation and intellectual property, as well as the value of investing in their employees and their skills, knowledge, and experience. By leveraging these intangible assets and human capital, companies can differentiate themselves from competitors and create sustainable competitive advantages.

Question 4

The human resource department is most likely to collaborate with other company functions on outplacement,labour law compliance,testing,and unemployment compensation.

Accepted Answer

The answer of The human resource department is most likely...

Question 5

Evidence-based HR provides managers with data to make decisions,instead of just relying on intuition.

Accepted Answer

Evidence-based HR is based on using data and research to make decisions in the workplace, rather than solely relying on intuition or personal experience. This approach allows managers to make more objective and informed decisions that are likely to have better outcomes.

Question 6

Every business must be prepared to deal with the global economy.

Accepted Answer

In today's interconnected world, businesses cannot operate in isolation and must be prepared to deal with the global economy. Globalization has made it easier for businesses to expand their operations worldwide, but it has also increased competition from international players. Therefore, businesses must have a global perspective and adapt to the ever-changing economic environment to survive and thrive.

Question 7

The use of alternative work arrangements,which include independent contractors,on-call workers,temporary workers,and contract company workers,is shrinking.

Accepted Answer

According to a report by the Bureau of Labor Statistics, the use of alternative work arrangements has been increasing over the years, rather than shrinking.

Question 8

Stakeholders of a company are shareholders,the community,customers,employees,and all of the other parties that have an interest in seeing that the company succeeds.

Accepted Answer

This is the definition of stakeholders, which includes shareholders, the community, customers, employees, and other parties with an interest in the company's success.

Question 9

The skills and motivation of a company's internal labor force determine the need for training and development practices and the effectiveness of the company's compensation and reward systems.

Accepted Answer

The skills and motivation of the internal labor force have a direct impact on the need for training and development practices, as well as the effectiveness of compensation and rewards systems. If employees lack the necessary skills or motivation, it may be necessary to provide training or adjust compensation in order to improve performance and retention. Conversely, if employees are highly skilled and motivated, these practices may not be as necessary, but effective compensation and reward systems may still be important for maintaining employee engagement and loyalty.

Question 10

To be effective,balanced scorecards must be customized by companies to fit different market situations,products,and competitive environments.

Accepted Answer

Balanced scorecards should be tailored to suit the specific needs and challenges of each company, taking into account factors such as market conditions, products, and competition. There is no one-size-fits-all approach to implementing a balanced scorecard.

Question 11

Cultural diversity can provide a company competitive advantage regarding problem-solving.

Accepted Answer

Cultural diversity brings multiple perspectives and solutions to a problem, which can lead to more innovative and effective problem-solving, giving companies a competitive advantage.

Question 12

Smaller entrepreneurial companies are finding that offshoring helps them expand their business.

Accepted Answer

Offshoring allows smaller companies to access a larger pool of talent and resources, reducing costs and increasing flexibility, thus enabling them to expand their business.

Question 13

As the workforce is predicted to become more uniform in terms of age,ethnicity,and racial background,it is likely that one set of values will characterize all employees.

Accepted Answer

While there may be some common values shared among employees, it is unlikely that there will be only one set of values that apply to everyone. People's backgrounds, experiences, and individual beliefs and values will still shape their perspectives and behaviors.

Question 14

Companies have historically looked at HRM as a means to contribute to profitability,quality,and other business goals through enhancing and supporting business operations.

Accepted Answer

Only recently have companies looked at HRM as a means to contribute to profitability, quality, and other business goals through enhancing and supporting business operations.

Question 15

The three product lines of HR include a)administrative services and transactions,B)financial services,and c)strategic partners.

Accepted Answer

The three product lines of HR typically include a) administrative services and transactions, b) business partner services, and c) strategic partners. Financial services are not typically categorized as a primary HR product line.

Question 16

The psychological contract describes what an employee expects to contribute and what the company will provide to the employee in return for these contributions.

Accepted Answer

The statement accurately describes the concept of the psychological contract.

Question 17

The balanced scorecard should not be used to link the company's human resource management activities to the company's business strategy.

Accepted Answer

The balanced scorecard can and should be used to link human resource management activities to the company's business strategy. This helps ensure that HR is aligned with the overall goals of the organization, and that people management practices contribute to the success of the business. The HR perspective in the balanced scorecard should include metrics related to employee engagement, productivity, skills development, and other HR-related factors that are critical to achieving strategic objectives.

Question 18

Corporate cultures within companies that successfully implement TQM typically emphasize individualism,hierarchy,accountability,and profits.

Accepted Answer

Corporate cultures within companies that successfully implement TQM typically prioritize teamwork, collaboration, customer focus, continuous improvement, and employee empowerment over individualism, hierarchy, accountability, and profits.

Question 19

Initially,offshoring involved complex manufacturing jobs with little direction in how the work was to be completed.

Accepted Answer

Initially, offshoring primarily involved simpler, routine tasks or manufacturing jobs that could be easily described and had clear instructions, rather than complex jobs with little direction.

Question 20

The amount of time that the HRM function devotes to administrative tasks is decreasing,and its roles as a strategic business partner,change agent,and employee advocate are increasing.

Accepted Answer

The statement is correct, as it reflects the evolving nature of the HRM function and its increasing focus on strategic initiatives rather than administrative tasks.

Quiz 1: Human Resource Management: Gaining a Competitive Advantage