UARK - MGMT 2103 Exam 1 Questions And Answers Verified 100% Correct!!
1. Porter's Strategy competitive advantage results from creating value in one of 2 ways
Typology -low cost strategy
-ditterentiation strategy
2. Low Cost Strategy create value by reducing cost and charging less than competitors (Walmart)
3. Differentiation create value by convincing the market that your product/service is ditterent from
Strategy competitors and charging a premium
4. Core Capabilities the strategic resources leveraged to achieve strategic objectives: "a harmonized
combination of multiple resources and skills that distinguish a firm in the mar-
ketplace"
-valuable, rare and diflcult to imitate by competitors
5. Core Capabilities -firm specific skills vs general skills
to Become Sources -teams vs individuals
of Sustained Com- -entire system of HRM practices vs. individual practices
petitive Advantage
6. 2 Demensions of -Value of Human Capital
Human Capital -Uniqueness of Human Capital
7. Value of Human "potential to contribute to...human capital"
Capital
8. Uniqueness of Hu- are the skills and knowledge needed to perform firm-specific or general?
man Capital
9. 4 Types of Human 1. Strategic Knowledge Workers
Capital Workers 2. Supporting Labor
3. Core Employees
4. Collaboration/Complementary/Alliance Partners
10.
, Strategic Knowl- employees have unique skills that are directly linked to the company's strategy
edge Workers -ex: top management
11. Supporting Labor employees whose skills are of less strategic value and generally available in the
labor market
-ex: clerical workers
12. Core Employees employees with skills to perform a predefined job that are quite valuable to a
company, but not particularly unique or diflcult to replace
-ex: sales people
13. Collabora- individuals and groups with unique skills, but those skills are not directly related
tion/Complemen- to a companies core strategy
tary/Alliance -ex: consultants
Partners
14. Workers in the Hu- -*Strategic Knowledge Worker* =high uniqueness/ strategic value, internaliza-
man Capital Archi- tion, relational
tecture Square -*Collab. Partners* = high uniqueness, low strategic value, externalization, rela-
tional
-*Supporting Worker* = low uniqueness/strategic, externalization, transaction-
al
-*Core Worker* = low uniqueness, high strategic, internalization, transactional
15. 2 Generic HR -Control
Strategies -Commitment
16. Control
1. Porter's Strategy competitive advantage results from creating value in one of 2 ways
Typology -low cost strategy
-ditterentiation strategy
2. Low Cost Strategy create value by reducing cost and charging less than competitors (Walmart)
3. Differentiation create value by convincing the market that your product/service is ditterent from
Strategy competitors and charging a premium
4. Core Capabilities the strategic resources leveraged to achieve strategic objectives: "a harmonized
combination of multiple resources and skills that distinguish a firm in the mar-
ketplace"
-valuable, rare and diflcult to imitate by competitors
5. Core Capabilities -firm specific skills vs general skills
to Become Sources -teams vs individuals
of Sustained Com- -entire system of HRM practices vs. individual practices
petitive Advantage
6. 2 Demensions of -Value of Human Capital
Human Capital -Uniqueness of Human Capital
7. Value of Human "potential to contribute to...human capital"
Capital
8. Uniqueness of Hu- are the skills and knowledge needed to perform firm-specific or general?
man Capital
9. 4 Types of Human 1. Strategic Knowledge Workers
Capital Workers 2. Supporting Labor
3. Core Employees
4. Collaboration/Complementary/Alliance Partners
10.
, Strategic Knowl- employees have unique skills that are directly linked to the company's strategy
edge Workers -ex: top management
11. Supporting Labor employees whose skills are of less strategic value and generally available in the
labor market
-ex: clerical workers
12. Core Employees employees with skills to perform a predefined job that are quite valuable to a
company, but not particularly unique or diflcult to replace
-ex: sales people
13. Collabora- individuals and groups with unique skills, but those skills are not directly related
tion/Complemen- to a companies core strategy
tary/Alliance -ex: consultants
Partners
14. Workers in the Hu- -*Strategic Knowledge Worker* =high uniqueness/ strategic value, internaliza-
man Capital Archi- tion, relational
tecture Square -*Collab. Partners* = high uniqueness, low strategic value, externalization, rela-
tional
-*Supporting Worker* = low uniqueness/strategic, externalization, transaction-
al
-*Core Worker* = low uniqueness, high strategic, internalization, transactional
15. 2 Generic HR -Control
Strategies -Commitment
16. Control
