MGMT 486 - EXAM 1 2024 WITH 100%
CORRECT ANSWERS
Types of organizational assets/capital
[Easiest to most difficult to measure] - correct answer✔✔ Financial
Physical
Mental
Operational
Human
Examples of HR metrics - correct answer✔✔ Employee retention/turnover
Corporate morale
Employee satisfaction
Factors influencing an organization's investment orientation - correct answer✔✔ Management values
Attitude towards risk
Nature of employee skills
Utilitarianism
Availability of outsourcing
Common models of strategy - Industrial Organization (O/I) Model - correct answer✔✔ External
environment is primary determinant of organizational strategy rather than internal decisions of
managers
Common models of strategy - Resource-based View (RBV) Model - correct answer✔✔ Organization's
resources & capabilities should be basis for strategic decision (internal resources)
, Strategic management process - correct answer✔✔ a. Mission statement
b. Environmental analysis
c. Organizational self-assessment
d. Establishing goals & objectives
e. Setting strategy
f. Identifying assumptions
Corporate strategy - Growth - correct answer✔✔ Gain economies of scale in operations & functions
Enhance competitive position
Provide opportunities for employee professional development and advancement
Corporate strategy - Stability - correct answer✔✔ Maintain status quo due to limited environmental
opportunities for gaining competitive advantage
Few employees have opportunity for advancement
Identify key employees and develop specific HR retention strategies to keep them
Corporate strategy - Turnaround/Retrenchment - correct answer✔✔ Downsizing/streamlining
organization in cost-cutting attempt to adjust to competitive environment
Individual dimensions of diversity - correct answer✔✔ Personal - Residence, race, religion, gender,
sexual orientation, physical ability
Work-related - Motivation, personality, worth ethic, experience, attitudes, job responsibilities
Diversity - correct answer✔✔ Rich blend of organization & human characteristics, experiences, skills,
and traditions
CORRECT ANSWERS
Types of organizational assets/capital
[Easiest to most difficult to measure] - correct answer✔✔ Financial
Physical
Mental
Operational
Human
Examples of HR metrics - correct answer✔✔ Employee retention/turnover
Corporate morale
Employee satisfaction
Factors influencing an organization's investment orientation - correct answer✔✔ Management values
Attitude towards risk
Nature of employee skills
Utilitarianism
Availability of outsourcing
Common models of strategy - Industrial Organization (O/I) Model - correct answer✔✔ External
environment is primary determinant of organizational strategy rather than internal decisions of
managers
Common models of strategy - Resource-based View (RBV) Model - correct answer✔✔ Organization's
resources & capabilities should be basis for strategic decision (internal resources)
, Strategic management process - correct answer✔✔ a. Mission statement
b. Environmental analysis
c. Organizational self-assessment
d. Establishing goals & objectives
e. Setting strategy
f. Identifying assumptions
Corporate strategy - Growth - correct answer✔✔ Gain economies of scale in operations & functions
Enhance competitive position
Provide opportunities for employee professional development and advancement
Corporate strategy - Stability - correct answer✔✔ Maintain status quo due to limited environmental
opportunities for gaining competitive advantage
Few employees have opportunity for advancement
Identify key employees and develop specific HR retention strategies to keep them
Corporate strategy - Turnaround/Retrenchment - correct answer✔✔ Downsizing/streamlining
organization in cost-cutting attempt to adjust to competitive environment
Individual dimensions of diversity - correct answer✔✔ Personal - Residence, race, religion, gender,
sexual orientation, physical ability
Work-related - Motivation, personality, worth ethic, experience, attitudes, job responsibilities
Diversity - correct answer✔✔ Rich blend of organization & human characteristics, experiences, skills,
and traditions
