TUTORIAL HRP (CHAP 1 & 2)

What does strategic management aim to provide for organizations?

• Increased product prices

• Overall direction through plans and policies

• A reduction in employee benefits

• Legal compliance with government regulations

Which of the following is a characteristic of a good mission statement?

• Defines the organization's values

• Sets measurable performance targets

• Outlines the organization’s reason for existence

• Lists the competitors' weaknesses

What type of strategy seeks to offer products at a lower price to a specific group of customers?

• Focused low-cost strategy

• Broad differentiation strategy

• Best-cost provider strategy

• Broad niche differentiation strategy

What is the primary purpose of a mission statement in an organization?

• To outline performance standards and metrics

• To articulate the organization's reason for existence and its values

• To specify financial goals and profitability targets

• To promote employee engagement and morale

What is the goal of Human Resource Planning?

• Determine the knowledge, skills, and abilities (KSAs) required within broad organizational outcomes

• Maximize a company's profitability.

• Enhance employee performance towards an organization.

• Determine the demand for and supply of human resources now and in the future.

What does HR forecasting aim to define?

• The cost of employee benefits

• The net requirement for human capital

• The marketing strategy of the firm

• The historical performance of the workforce

What are the two main types of HR forecasting?

• Internal forecasting and external forecasting

• Demand forecasting and supply forecasting

• Operational forecasting and strategic forecasting

• Quantitative forecasting and qualitative forecasting

Which forecasting technique relies on subjective decisions and personal rules of thumb?

• Norm-based rules

• Time series and regression-based models

• Mathematical models and econometric models

• Surveying business lines for anticipated needs

Which forecasting technique is highly data-driven and can incorporate a large number of assumptions and variables?

• Time series and regression-based models

• Qualitative models

• Mathematical models and econometric models

• Surveying business lines for anticipated needs

What is a key factor that reduces the time horizon for HR forecasting?

• High organizational stability

• Reduced levels of uncertainty

• Increased environmental and organizational uncertainty

• Expansion of the workforce