final exam

Question 1

HR Plan

Answer 1

strategy encompasssing everything related to the ppl in an organization, from recruitment & compensation to performance and training —> outlines everything an organization is doing to manage the ppl side of their business

u dont need an HR practitioner to have one

Question 2

Why is HR plan important

Answer 2

need standard op procedures! clear recruitment and compensation, need workplace with common understanding of how things work & what is expected of each employee, risk management

Question 3

HR plan level 1 (3)

Answer 3

• employee handbook or manual, including: workplace policies, expectations, hours of work, action, compensation, dress code, performance mgmt
• job descriptions: set expectation and create accountability
• org chart: visual representation of the internal structure of an organization, demonstrating hierarchy and communication flow

Question 4

HR plan level 2

Answer 4

talent mgmt and recruitment strategy: need clear integration and onbaording plan

• should include: employee handbook, job description, org chart, all the equipment to do their job, instructions to manager teammates and other departments
• training materials or plan

Question 5

HR plan level 3

Answer 5

performance management: take each employees job description and define success including specific goals

Question 6

HR plan level 4

Answer 6

career development: number one employee retention tactic, develop some employees to roles that allow for more growth and meaning

Question 7

people expertise

Answer 7

its it the knowledge of how to develop motivate and deploy workers to achieve business outcomes and human outcomes throughout the talent life cycle

Question 8

boundaryless HR what is it and what boundaries does it break down (4)

Answer 8

shift in mindset supported by adoption of practices, skill sets, technologies, structural changes embedding people discipline into the fabric of a business by breaking down these boundaries:

1.between HR and other disciplines
2.between HR and workers leaders and managers
3.boundaries that equate the notion of jobs to work and employees to workers
4.boundaries between hr and external orgs customers and outside partners

Question 9

signals u need boundaryless HR (3) ehwwww

Answer 9

1.employee feedback shows that workers arent getting enough support
2.hr talent prefers to gain experience in diverse types of work
3.workforce is composed of talen and distrivbuted workers in remote and physical locations

Question 10

5 major hr shifts

Answer 10

1. from improving productivity to unlocking human performance
2. from improving employee engagement to elevating human sustainability
3. from managing employment to orchestrating work
4. from aligning HR practices to the business strategy to driving business transformation and shared outcomes
5. from ensuring worker compliance to managing and mitigating workforce risk

Question 11

organizations can take the following actions to transform HR from a function to boundaryless discipline
5 RCdc T

Answer 11

1.redefine the role of the manager to be a people leader
2.create new metrics and analytics shared across functional areas
3.democratize people practices and data with AI and other digital tools creating science based processes that unlock performance
4.create cross functional teams or cross functional integrator roles to tackle business problems and people issues
5.transform workers into producers of people practices not just consumers

Question 12

management style def

Answer 12

method path that corporations follow to steer their businesses, excercise authoruty and direct their personnel in order to achieve national and global targets

Question 13

ethnocentric mgmt def, adv disadvantage

Answer 13

when HQ believes their strats are the best and never reveal their secrets to subsidiaries
believe if rules occurred well nationally and were verifi they should succeed in any other market; think their management is th best no matter what culture

ADV: simplicity of org structure, flow of organization and in performing the internal control
DISADV: lack of openness and flexibility, lower efficiency

Question 14

polycentric mgmt def, adv disadvantage

Answer 14

when host country strategies are applied and decision making takes place in subsidiaries
studies aspects of each of the foreign market and embraces philosophy that its better to use local methods to cope and solve local problems rather than force unfamiliar solutions

ADV: freedom and flexibility in all subsidiaires
DIS:; lack of comms can lead to chaos, excessive growth and reluctance of local managers to abide by regs set by HQ

Question 15

geocentric style def, adv, disadvantage

Answer 15

synthesis of ethnocentrism and polycentrismes and makes no special distribution between the domestic and foreign market (identified with local company needs)
encourage comms among subsidiaries, collaborative approach to apply a worldwide appraich
subsidiaries seen as part of a whole focused on local and global targets

ADV: adv on company ROR, HR, g/s quality and globalization levels—creates a stronger international company, better quality of goods and services, utilization of the best resource,s more profit, flecxible
DIS:high costs associated with hr and personnel mgmt, family challenges

Question 16

how pepsico case is geocentric

Answer 16

generalize guidelines, comm with host county, take local needs into consideration, liberty to manager to foster talents, promoting all employees no matter nationality

Question 17

Slalom HR ops and challenges 4

Answer 17

cultural and legal considerations in global context
hr as a business partner
growing pains nd lessons learned
embrace technology

Question 18

what are business ops

Answer 18

activities that businesses engage in on a daily bases to inc the value of the entreprise and earn a profit.

the activities can be optimized to generate sufficient revenues to cover expenses and earn a profit for the owners of the business.

employees help accomplish the business goals by performing certain functions such as marketing accounting manufacturing

Question 19

business ops of manufacturing firm vs retail firm

Answer 19

business ops of manufacturing firm: SERVICE, SALES, MANU, R&D, RAW MATERIAL PROCURMENT
business ops of retail firm: SERVICE, SALES, MARKETING, BUYING DIVISION

Question 20

why worry about op efficiency?

Answer 20

improved performance, stronger employee engagement, higher profits

Question 21

continuous improvement cycle

Answer 21

1) kpis set 2) targets set 3) waste identified and eliminated 4) targets achieve 5) targets measured

Question 22

critical steps towards op efficiency

Answer 22

benchmark
identify and eliminate waste
monitor and manage performanc

Question 23

waste vs added value activity

Answer 23

what is waste? -> any activity that adds cost without creating value for the customers
vs added value activity -> activity that improves product or service, clients are willing to pay for, work done right the first time

Question 24

8 sources of waste

Answer 24

overproduction, waiting, transport, inefficient ops, inventory, motion, poor design, poor quality

Question 25

3 essential optimization projects

Answer 25

1. create performance dashboards (always measure and track perf to evaluate) a.choose KPIs b.set targets c.make ur dashboard (tells u how far u have come and where ur headed) 2. improve supervisor performance (free supervisors to lead/active supervision) PLAN, DO, CHECK, ACT active supervision! use daily monitoring routine, checklist 3. clean up and standardize workspaces with 5S (efficiency excercise) Sort, Set in order, Shine, Standardize, Sustain -> 5S

Question 26

KPIs

Answer 26

focus on your important priorities and see what u need to change to strengthen ur operations, dont focus on problems, discuss with team, not only set also monitor

Question 27

projects ex and efficient solutions =

Answer 27

projects: organize workspace, optimize office processes, manage bottlenecks, optimize inventory mgmt EFFICIENT SOLUTIONS = QUALITY OF IDEAS * DEGREE OF BUY IN * AMOUNT OF DILLIGENCE

Question 28

continuous improvement

Answer 28

structure to constantly improve a company’s ops and products with incremental steps —> rooted in op efficiency methods especially the Kaizen methodology (change for the better

Question 29

continuous improvement achieves these 4 goals

Answer 29

reduce / eliminate waste in business processes reduce / eliminate variation (6 sigma) reduce / eliminate inflexibility increase digitalization (accelerates the three other improvements)

Question 30

benefits of continuous improvement

Answer 30

increased profitability sales and competitiveness, reduced costs and greater productivity, enhanced product/service quality deliver cust sat and brand rep, fewer errors and accident, greater employee engagement, compliance with regulations, culture of innovation, better resilience and adaptability to changing conditions

Question 31

explain Lean cont improvement

Answer 31

focused on reducing waste, often associated with manufacturing but can be used for any kind of company, 3 steps 1. go and see take tour of facility, identify 8 types of waste (from above one tool for the walk through is the gemba walk 2. ask why ask why a process or task is done a certain way, break down processes into individ tasks and ask if its optimal 3. analyze with ur team

Question 32

explain 6 sigma cont improvement

Answer 32

focussed on improving quality control and reducing production variability, reduce errors and costs and boost customer sat (limit to 6 standard deviations) define measure analyze approve implement control

Question 33

theory of constraints cont improvement

Answer 33

methodology geared towards identifying and addressing constraints or bottlenecks in a business (5 steps) 1. identify constraints use process mapping to visualize ur system and identify by theres a delay then determine causes of the delay, can use tools like five whys or fishbone diagram 2. improve output 3. subordinate other processes (reduce pile up) 4. elevate constraint (if problem remains invest in eliminating the constraint) 5. monitor and repeat

Question 34

explain agile cont improvement

Answer 34

has roots in software development, operational efficiency methodology revolving around these principles; incremental improvement cross functional teams customer centric continuous feedback visual tools sprints ownership

Question 35

PDCA cycle

Answer 35

to implement cont improvement rec to do PDCA cycle PLAN make sure leadership is committed, create dedicated team or person to lead, define what u want to achieve and make sure it aligns with ur business strategy identify problem areas, bottlenecks, key processes that would benefit most improvement can use these tools to identify priority challenges and solutions: pareto analysis, fishbone diagram, structured problem solving DO create action plan for implementing th most impactful solutions identify who is responsible for each initiative e, a timeline, and milestones or KPIs to gauge progress some KPIs include: labour efficiency, defect rate, on time delivery, product reliability CHECK measure success, meet regularly, monitor and collect data ACT NOT A ONE OFF ACTIVITY, SHOULD BE PART OF UR COMPANY’S CULTURE AND routine, take action to standardize or improve process

Question 36

how to promote a culture of continuous improvement in the workplace

Answer 36

increase employee participation, encourage learning, build trust and transparency, foster engagement, start small

Question 37

Globalization has led to (3) and def of globalization

Answer 37

improved information and communication technologies, decline in transportations costs, reduced barriers to trade ad investment def: growth of international trade and capital flows between integrated world economies

Question 38

def of vc and gvc

Answer 38

value chain: every step a business takes to produce a g/s and deliver it to the customer from its conception to its end use and beyond - all of a firms individual business processes are represented in the value chain - corporate services -> r&d -> inputs -> assembly -> distribution -> sales -> after sales service global value chain: established when firms outsource functions of their company to other countries

Question 39

to reach an international market you can access existing global value chains where you can

Answer 39

provide intermediate input, produce a niche product or service, supply to multiple clients, become a preferred supplier

Question 40

strategies to add international components to existing value chains include

Answer 40

JV or strategic partnership, canadian direct investment abroad, FDI, offshoring, outsourcing (outside the firm)

Question 41

sc changes over 18 months

Answer 41

inflation, rising interest rates, geopolitical tensions

Question 42

disruption in sc

Answer 42

panama the red sea missiles

Question 43

foundational principles in naviagting volatile scenarios before and after pandemic

Answer 43

before pandemic: service, quality and cost, capital after: resilience, agility, sustainability - new model is underpinned by four basic principles: visibility across sc, strong collab with trusted suppliers, sourcing diversification, ability to reach quickly to fast changing conditions

Question 44

future of sc

Answer 44

supply chains wont be driven by products and processes but by customer needs depend on ecosystem of modular capabilities, delivered through a network of trusted third-parties that can be scaled and recombined as needed automous, self-healing and self optimizing

Question 45

where to start with sc of the future (6)

Answer 45

1. put the customer first - custs want seamless transparaent rapid fulfillment - no linear series of inputs and flows, now they are interconnected digitally enabled and predictive networks with the customer at the center - segmenation of need to end scs 2. utilize platforms effectively - use digital platforms, suppliers can do business directly with retailers or customers 3. win the war for talent - exponential inc in volume of available data = need specialist analysts - intelligent automation IA is changing the pace 4. understand the importance of sustainability - sc’s bring to life ethical and sustainable vision of a business - increasing pressure from customers, regulators and investors - need SC transparency , embrace digital platforms - tracking and traceability, integrated system technologies, joining the dots internally, network ecosystems, culture shift, continuing the conversation 5. leverage cross functional data - huge quantities of digital information from sc automation and digitization - control towers r design to look at sc in isolation - invest instead in cognitive decision centers CDC’s which take cross factional view of the supply chain from sales and marketing at one end to finance and procurement at the other 6. exploit micro supply chains - balance demand for variety against costs of complexity, so invest in micro scs, each chain optimized to serve a specific customer segment more effectively without impacting how the org services other segments profitable approach to deriving variety

Question 46

looking ahead sc—understand todays challenges

Answer 46

1. embracing change - disruption is the new norm (new technologies put pressure on sc leaders to innovate) need agile approach 2. overcoming digital overwhelm - hard to know where to start with digitizing - make decisions based on clear understanding of business tragedies 3. building mgmt capability - fluid and collaborative, decentralized - sc are becoming shorter end to end ‘ - orgs lack capability to manage many independent parties moving efficiently - work with optimization specialists

Question 47

6 steps to enhance supply chains (getting there)

Answer 47

1. clarify your strategy (start with clear articulation of business strategy) 2. understand cost of complexity vs value of variety (too wide range of g/s isn’t profitable, SO 1)understand the market 2)build these insights into differentiated targe delivery model you can optimize against 3. leverage data to improve core compenetices and improve supply visibility and transparency (consolidate data) 4. lead with performance not technology (focus on needs of customers u serve, tech should improve performance) 5. upskill ur workforce (success of future sc strat depends on ur people) 6. embrace new partnerships (no single org has full suite of digital capabilities under one roof, outsource!)