Question 1

Jake, the CEO of a company, appraises his managers based on how well they empower their employees. Which of the following managers is Jake likely to rate the highest in this regard?

Accepted Answer

Empowering means giving employees responsibility and authority to make decisions regarding all aspects of product development or customer service. Employees are then held accountable for products and services; in return, they share the rewards and losses of the results.

Question 2

Tacit knowledge is an example of _____ capital.

Accepted Answer

Tacit knowledge, education, work-related expertise, and work-related competence are examples of human capital.

Question 3

A company whose employees have high engagement is likely to have _____ when compared to a company with low employee engagement.

Accepted Answer

Employee engagement refers to the degree to which employees are fully involved in their work and the strength of their commitment to their job and the company. Employees who are engaged in their work and committed to the company they work for give companies competitive advantage including higher productivity, better customer service, and lower turnover.

Question 4

Which of the following people would be categorized as part of the external labor market with regards to Phoenix Inc.?

Accepted Answer

The labor force of current employees is often referred to as the internal labor force. Employers identify and select new employees from the external labor market through recruiting and selection. The external labor market includes persons actively seeking employment. Keith is the only person in the above scenario that is not currently employed by Phoenix Inc. and is seeking a new job.

Question 5

_____ refers to a systematic planned strategic effort by a company to attract, retain, develop, and motivate highly skilled employees and managers.

Accepted Answer

Talent management refers to the systematic planned strategic effort by a company to use bundles of human resource management practices including acquiring and assessing employees, learning and development, performance management, and compensation to attract, retain, develop, and motivate highly skilled employees and managers.

Question 6

Which of the following is true of a balanced scorecard?

Accepted Answer

A balanced scorecard gives managers an indication of the performance of a company based on the degree to which stakeholder needs are satisfied; it depicts the company from the perspective of internal and external customers, employees, and shareholders. The balanced scorecard differs from traditional measures of company performance by emphasizing that the critical indicators chosen are based on the company's business strategy and competitive demands.

Question 7

When companies are trying to meet the shareholders' and the general public's demands to act more ethically and environmentally responsible, they are recognizing the importance of _____.

Accepted Answer

Companies are recognizing that social responsibility can help boost a company's image with customers, gain access to new markets, and help attract and retain talented employees. Companies thus try to meet shareholder and the general public's demands that they be more socially, ethically, and environmentally responsible.

Question 8

Trade secrets are an example of _____ capital.

Accepted Answer

Intellectual capital includes patents, copyrights, trade secrets, and intellectual property.

Question 9

_____ is a companywide effort to continuously improve the ways people, machines, and systems accomplish work.

Accepted Answer

Total quality management is a companywide effort to continuously improve the ways people, machines, and systems accomplish work. It refers to a cooperative form of doing business that relies on the talents and capabilities of both labor and management to continually improve quality and productivity.

Question 10

When a corporate organization competes through globalization, as opposed to technology, it is likely to put most of its efforts on _____.

Accepted Answer

A company that competes through globalization is likely to focus on expanding into foreign markets and preparing employees to work in foreign locations.

Question 11

Sustainability refers to the ability of a company to:

Accepted Answer

Sustainability refers to a company's ability to meet its needs without sacrificing the ability of future generations to meet their needs. Organizations pursuing a sustainable strategy pursue the "triple bottom line": economic, social, and environmental benefits.

Question 12

Which one of the following is true about the Six Sigma process?

Accepted Answer

The Six Sigma process refers to a process of measuring, analyzing, improving, and then controlling processes once they have been brought within the narrow Six Sigma quality tolerances or standards. The objective of Six Sigma is to create a total business focus on serving the customer, that is, to deliver what customers really want when they want it.

Question 13

Distribution channels are an example of _____ capital.

Accepted Answer

Customer capital includes customer relationships, brands, customer loyalty, and distribution channels.

Question 14

According to emerging changes in the employment relationship, which of the following benefits do employees typically not expect to be provided by employers?

Accepted Answer

New or emergent business strategies have resulted in changes in the employment relationship. Employees realize that companies cannot provide job security, so they want employability-that is, they want their company to provide training and job experiences to help ensure that employees can find other employment opportunities. In exchange for top performance and working longer hours without job security, employees want companies to provide flexible work schedules, comfortable working conditions, and more autonomy in accomplishing work.

Question 15

When considering a balanced scorecard that depicts a company from a(n)_____ perspective, the critical HR indicators are employee satisfaction with HR department services and employee perceptions of the company as an employer.

Accepted Answer

A balanced scorecard gives managers an indication of the performance of a company based on the degree to which stakeholder needs are satisfied. When considering a balanced scorecard that depicts a company from a customer perspective, the critical HR indicators are employee satisfaction with HR department services and employee perceptions of the company as an employer.

Question 16

Organizations that pursue a _____ strategy pursue the "triple bottom line" of economic, social, and environmental benefits.

Accepted Answer

Sustainability refers to a company's ability to meet its needs without sacrificing the ability of future generations to meet their needs. Organizations pursuing a sustainable strategy pursue the "triple bottom line": economic, social, and environmental benefits.

Question 17

A company competing through sustainability is likely to _____.

Accepted Answer

When a company competes through sustainability, it is likely to provide a return to shareholders and provide high-quality products, services, and work experience for employees. Such companies also place increased value on intangible assets and human capital, be socially and environmentally responsible, and adapt to the changing characteristics and expectations of the labor force.

Question 18

Mentoring relationships are an example of _____ capital.

Accepted Answer

Corporate culture, management philosophy, management practices, informal networking systems, and coaching/mentoring relationships are examples of social capital.

Question 19

A company competes for the Malcolm Baldrige National Quality Award. If it is evaluated based on how senior executives create and sustain vision, values, and mission, it is likely that the company is being judged on the criterion of _____.

Accepted Answer

Leadership is one of the categories for the Malcolm Baldrige National Quality Award examination. It is evaluated based on how senior executives create and sustain vision, values, and mission.

Question 20

Which of following is true of lean thinking?

Accepted Answer

Lean thinking is a way to do more with less effort, time, equipment, and space, but still provide customers with what they need and want. Part of lean thinking includes training workers in new skills or how to apply old skills in new ways so they can quickly take over new responsibilities or use new skills to help fill customer orders.

Quiz 1: Human Resource Management: Gaining a Competitive Advantage