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People Domain Flashcards

1
Q

What are the three levels of strategy?

A

Organizational
Business Unit
Operational

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2
Q

Strategic planning vs. management

A

Planning: Process of setting goals and designing path towards competitive position vs. Management: the actions leaders take to move their org towards that competitive position

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3
Q

What is strategic drift

A

Org fails to respond to the external environment - org culture with “this is the way we’ve always done it”

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4
Q

Four steps in strategic planning process

A

Formulation
Development
Implementation
Evaluation

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5
Q

Where in the strategic planning process does strategic management take place?

A

Within the implementation phase - implementation of the tactics

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6
Q

The three critical success factors for strategic planning and management

A

Alignment
Control of drift (most common when stuck in the past)
Core Competencies

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7
Q

Beer Game by MIT

A

Shows systems complexity across organization - what would their actions do in the larger system

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8
Q

When is a SWOT analysis particularly helpful

A

Often used for new markets, global expansion or strategic alliance

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9
Q

Four ways to conduct environmental scanning for strategic planning

A

SWOT
PESTLE
Growth-Share Matrix
Scenario Analysis

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10
Q

Four areas in balanced scorecard

A

Finance
Customers
Efficiencies
Learning & Growth

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11
Q

Outcome of strategic development

A

Strategic fit - ensuring an organizations strategy fits with its internal and external environments

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12
Q
A
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13
Q

What are the two ways in organization can create competitive advantage

A

An organization can either change and it’s external environment or within the organization itself

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14
Q

What are Porters two competitive strategies?

A

Cost leadership and differentiation

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15
Q

What is the competitive advantage strategy of differentiation?

A

Charge a higher price by offering something different or in a different way for example Warby Parker or Mercedes 

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16
Q

What is a growth strategy?

A

How an organization intends to grow

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17
Q

What is needed to have effective implementation of strategy?

A

The communication loop

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18
Q

What is the purpose of a critical path analysis?

A

A critical path analysis is a type of project schedule that looks at start and end dates the relationship between tasks to find the earliest completion date possible it is focused on the time of tasks

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19
Q

What is the value add of a Gantt chart?

A

The primary way to communicate expectations to a team and coordinate activity. It represents the scheduling of tasks in a visual way. 

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20
Q

What is the focus of lean project management?

A

Efficiency and eliminating waste

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21
Q

What is six Sigma project management

A

Focus on quality

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22
Q

When do you use critical chain project management?

A

You use critical chain project management when resources are limited and cannot be increased. You must build in buffers. 

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23
Q

Who is at the center of the project in design thinking

A

The customer because they focus on the projects intended and user

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24
Q

What is the purpose of workforce planning?

A

It identifies the mix of the workforce that can implement the organizations, goals and strategies 

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25
What does staffing act on?
Staffing acts on the needs identified in workforce planning
26
I what are job specifications
The minimum qualifications necessary to perform a job it is not about what the ideal candidate should have to be the ideal candidate 
27
What are essential functions?
The duties of a job that someone must be able to carry out with or without reasonable accommodation 
28
29
How often should a job analysis be conducted
Anytime there’s a vacancy or every two years
30
What is headcount
Number of people on payroll at a given time
31
Another term for unstructured interviews
Non directive interviews
32
Psychomotor tests
Candidate to show minimum degree of strength physical dexterity or coordination
33
What is an assessment center assessment
Assesses higher level management and supervisory competencies- face tasks on the job that they are interested in
34
What is trait engagement
Personality traits that make someone predisposed to be engaged
35
State engagement
Engagement that’s influenced by workplace conditions and can be improved by management
36
Transactional engagement
Employees appear engaged but they actually arent
37
Four drivers of engagement
Work itself, career dev, rewards and recognition, confidence and trust in leadership
38
Phases of employee lifecycle
Recruiting integration development departure
39
What’s an RJP
Realistic job preview
40
Management by objectives
Employees set objectives for themselves defining what they intend to achieve in a specific time. Period management by objective assumes that there is a strategic plan in place.
41
MBO
Management by objectives
42
BARS
Behaviorally anchored rating scale.
43
What are some benefits of the BARS method?
Clearer standards of performance, feedback, more accurate gauge of performance.
44
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When does the BARS method work best?
When there are many employees performing the same tasks
47
What is the downside of using critical incidents as an appraisal tool
You cannot rate or rank employees relative to one another
48
What is primacy bias?
When the appraiser gives more weight to an employees early performance and miss opportunities for more recent occurrences
49
50
What are two employee engagement metrics
Revenue per employee and monthly voluntary turnover rate
51
What is another word for retention rate?
Stability index 
52
What is the 70 2010 ratio?
To develop managers, 70% of their work should be in challenging assignments, 20% comes from developmental relationships, and 10% comes from actual training
53
What is task migration
When traditionally higher-level leadership responsibilities are transferred to leaders at lower levels - a product of wanting to have flatter organizations, and tasks have become more complex and more frequent challenges
54
What is a learning organization?
An organization that can act quickly to changes and lessons of the experience through their behavior. This is a system level concept.
55
What is organizational learning?
Learning that will occur at several levels of the organization, individual learning, group learning, or organizational learning. Organizational learning is about institutional knowledge.
56
What is tacit knowledge? 
Knowledge that is personal inexperienced based difficult to qualify, can get lost, and represents a single point of failure 
57
How do we have knowledge retention?
Technology base systems for explicit knowledge and softer systems for task knowledge.
58
What are two examples of softer systems within knowledge management?
Knowledge maps, and knowledge Caffe 
59
Andragogy versus pedagogy
How adults learn versus how children learn. 
60
Successive approximation model version of Addie model
Iterative design and development change as we go
61
Action mapping L&D technique
Create activity stream based on goal with essential information and practice activity
62
What are the two parts of career development
Career planning and career management
63
What subset of career development is my responsibility
Career planning
64
What is the focus of career management
The needs of the organization
65
What is the first thing to do in regard to total rewards
Develop compensation philosophy that outlines guiding principles and core values related to total rewards
66
What is the lead lag approach to compensation
Leads the market first half of the year and then lags the second half of the year
67
What is another word for tactile learners?
Kinesthetic learners
68
What job evaluation method is the most analytical and includes process documentation to create an audit trail?
Point factor method
69
What is a fiduciary duty?
A legal obligation of employer to act in best interest of EE
70
What is broadbanding?
Combines two or more salary grades to create larger ranges and gives wider latitude to move without growing pay scale
71
When is broadbanding most effective
When org wants to flatten org structure and remove levels of management
72
What is external equity
External equity refers to employees’ perceptions that they are being fairly compensated in terms of what employers in the same labor market would offer.
73
what is NQDC?
Nonqualified Deferred Compensation (NQDC) plan is an agreement between an employer and employee where the employer promises to pay the employee's compensation at a future date.
74
What is advantage of NQDC
Executives can get payment at retirement for example but if ER goes under, the EE may lose their investment
75
How can an organization evaluate ROI on labor costs?
a P4P program that measures perf compared to company goals
76

SHRM-CP (13 decks)

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