Question 1

Which of following is true about 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. As a result of lean thinking, machines were moved so that operators could make a bolt or fastener complete from start to finish, resulting in a decrease in the time it takes to make a finished product. Quality is near perfect, and inventory has been reduced 54%.

Question 2

Trade secrets is an example of _____ capital.

Accepted Answer

Intellectual capital includes:• Patents• Copyrights• Trade secrets• Intellectual property

Question 3

A(n)_____ contract describes what an employee expects to contribute and what the company will provide to the employee for these contributions.

Accepted Answer

The psychological contract describes what an employee expects to contribute and what the company will provide to the employee for these contributions. Unlike a sales contract, a psychological contract is not written.

Question 4

Which of the following corresponds to a technological competitive challenge that influences a U.S company?

Accepted Answer

Competing through technology includes:• Change employees' and managers' work roles• Create high-performance work systems through integrating technology and social systems• Development of e-commerce and e-HRM• Use of social networking tools• Development of HR dashboards and use of HR analytics in problem solvingRefer To: Figure 1.4

Question 5

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

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. As a result, the skills and motivation of a company's internal labor force are influenced by the composition of the available labor market.

Question 6

According to the financial perspective of the balanced scorecard, which of the following questions should be answered?

Accepted Answer

According to the financial perspective of the balanced scorecard, the question should be answered is "How do we look to shareholders?" The managers should be able to identify critical indicators or metrics related to human resources.

Question 7

Mentoring relationships is an example of _____ capital.

Accepted Answer

Examples of social capital include:• Corporate culture• Management philosophy• Management practices• Informal networking systems• Coaching/mentoring relationships

Question 8

Increasingly, companies are trying to meet shareholder and general public demands that they be more ethically, and environmentally responsible. Thus, companies are recognizing the importance of _____.

Accepted Answer

Increasingly, 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 general public demands that they be more socially, ethically, and environmentally responsible.

Question 9

Which of the following is true about the balanced scorecard?

Accepted Answer

The 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 10

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

Accepted Answer

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

Question 11

_____ refers to the ability of a company to survive and succeed in a dynamic competitive environment.

Accepted Answer

Sustainability refers to a company's ability to make a profit without sacrificing the resources of its employees, the community, or the environment.

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

Empowering is defined as:

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 14

Tacit knowledge is an example of _____ capital.

Accepted Answer

Tacit knowledge, education, work-related know-how, and work-related competence are the examples of human capital.

Question 15

The way senior executives create and sustain vision, values, and mission: promote legal and ethical behavior, is the definition for which Malcolm Baldrige National Quality Award criterion?

Accepted Answer

Malcolm Baldrige National Quality Award is an award established in 1987 to promote quality awareness, to recognize quality achievements of U.S. companies, and to publicize successful quality strategies. Leadership is one of the categories for the award examination.

Question 16

Which of the following corresponds to a sustainability competitive challenge that influences a U.S company?

Accepted Answer

Competing through sustainability includes:• Provide a return to shareholders• Provide high-quality products, services, and work experience for employees• Increased value placed on intangible assets and human capital• Social and environmental responsibility• Adapt to changing characteristics and expectations of the labor force• Legal and ethical issues• Effectively use new work arrangementsRefer To: Figure 1.4

Question 17

Distribution channels is an example of _____ capital.

Accepted Answer

Customer capital includes:• Customer relationships• Brands• Customer loyalty• Distribution channels

Question 18

Which of the following corresponds to a global competitive challenge that influences a U.S company?

Accepted Answer

Competing through globalization includes:• Expanding into foreign markets• Preparing employees to work in foreign locationsRefer To: Figure 1.4

Question 19

_____ refers to the degree to which employees are fully involved in their work and the strength of their job and company commitment.

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 to give companies competitive advantage including higher productivity, better customer service, and lower turnover.

Question 20

_____ 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. This means recognizing that all HR practices are inter-related, aligned with business needs, and help the organization manage talent to meet business goals.

Quiz 1: Human Resource Management: Gaining a Competitive Advantage