PHR Exam Module 1 Business
Management-Graded A
What are SMART Goals? - ANS-S= Specific - you should be able to say how you will
know when a goal has been accomplished and how you might go about reaching out
M= Measurable- if a goal is measurable, then you'll have a sense of how close you are
to reaching it, and it will be obvious when you have met it.
A= Attainable. Setting unrealistic goals is demoralizing and ultimately wastes time.
R=Relevant. Should be relevant to an organizations long-term aspirations.
T= Time-bond - realistic time constraints should be used
Line Manager - ANS-Is the face of the company when it comes with dealing with
employees. Line managers HR Responsibilities include:
-Implementing the organizations HR programs for their direct reports- performance
appraisals, merit increases, disciplines, discharges
-Employing HR programs to motivate and reward people
-Contributing suggestions for process improvements in HR
Strategic Planning - ANS-- process typically includes an assessment of those attributes
it may have or would like to have to compete and differentiate itself from its rivals.
-HR is an important part of this for recruiting, hiring, retaining, training and development.
-HR needs to be integrated into this
Organizational Audit - ANS-Assess six significant organizational characteristics:
- shared mindset
- competence (KSAs)
- Consequence (performance mang)
- Governance (structure, systems, policies)
- Work process/ capacity for change
- Leadership
, After assessing HR determines how modifications will affect the organization and
implement changes
SWOT Analysis - ANS-(Strength, Weakness, Opportunities, Threats)
analysis focuses on identifying factors both within and outside of an organization that
will affect its performance
Internal:
Strengths: are things within the organization that will help the company achieve its goals
Weaknesses: are obstacles to reach those goals within the organization
External:
Opportunities: include things like good economic conditions, increase consumer
demand, lackluster competition.
Threats: low demand, high competition, poor economic conditions, low unemployment
PEST Analysis - ANS-Performed as part of a SWOT Analysis
- Political, Economic, Social and Technological
- focus on external part of the SWOT- threats and opportunities and organization will
face
Porter's Five Forces - ANS-Also known as Industry and Competitive Analysis. A
framework considering the interplay between (1) the intensity of rivalry among existing
competitors, (2) the threat of new entrants, (3) the threat of substitute goods or services,
(4) the bargaining power of buyers, and (5) the bargaining power of suppliers.
Vision Statement - ANS-This should be a concise assertion of what the company is,
who it serves, and where it is going.
should be an inspiring piece that provides everyone involved in the organization—from
employees to shareholders to customers—insight into the organization's future.
Mission Statement - ANS-elaborate on vision statements by providing additional details
about how the organization plans to achieve its vision of the future.
- Should also differentiate an organization from its competitors.
Core Competencies - ANS-- Things that an organization does best
- are essential to differentiate one organization from its competitors
-Could be related to technology, production, culture and community, knowledge
management, etc.
Management-Graded A
What are SMART Goals? - ANS-S= Specific - you should be able to say how you will
know when a goal has been accomplished and how you might go about reaching out
M= Measurable- if a goal is measurable, then you'll have a sense of how close you are
to reaching it, and it will be obvious when you have met it.
A= Attainable. Setting unrealistic goals is demoralizing and ultimately wastes time.
R=Relevant. Should be relevant to an organizations long-term aspirations.
T= Time-bond - realistic time constraints should be used
Line Manager - ANS-Is the face of the company when it comes with dealing with
employees. Line managers HR Responsibilities include:
-Implementing the organizations HR programs for their direct reports- performance
appraisals, merit increases, disciplines, discharges
-Employing HR programs to motivate and reward people
-Contributing suggestions for process improvements in HR
Strategic Planning - ANS-- process typically includes an assessment of those attributes
it may have or would like to have to compete and differentiate itself from its rivals.
-HR is an important part of this for recruiting, hiring, retaining, training and development.
-HR needs to be integrated into this
Organizational Audit - ANS-Assess six significant organizational characteristics:
- shared mindset
- competence (KSAs)
- Consequence (performance mang)
- Governance (structure, systems, policies)
- Work process/ capacity for change
- Leadership
, After assessing HR determines how modifications will affect the organization and
implement changes
SWOT Analysis - ANS-(Strength, Weakness, Opportunities, Threats)
analysis focuses on identifying factors both within and outside of an organization that
will affect its performance
Internal:
Strengths: are things within the organization that will help the company achieve its goals
Weaknesses: are obstacles to reach those goals within the organization
External:
Opportunities: include things like good economic conditions, increase consumer
demand, lackluster competition.
Threats: low demand, high competition, poor economic conditions, low unemployment
PEST Analysis - ANS-Performed as part of a SWOT Analysis
- Political, Economic, Social and Technological
- focus on external part of the SWOT- threats and opportunities and organization will
face
Porter's Five Forces - ANS-Also known as Industry and Competitive Analysis. A
framework considering the interplay between (1) the intensity of rivalry among existing
competitors, (2) the threat of new entrants, (3) the threat of substitute goods or services,
(4) the bargaining power of buyers, and (5) the bargaining power of suppliers.
Vision Statement - ANS-This should be a concise assertion of what the company is,
who it serves, and where it is going.
should be an inspiring piece that provides everyone involved in the organization—from
employees to shareholders to customers—insight into the organization's future.
Mission Statement - ANS-elaborate on vision statements by providing additional details
about how the organization plans to achieve its vision of the future.
- Should also differentiate an organization from its competitors.
Core Competencies - ANS-- Things that an organization does best
- are essential to differentiate one organization from its competitors
-Could be related to technology, production, culture and community, knowledge
management, etc.
