MGT 345 (HUMAN RESOURCE
MANAGEMENT) EXAM 1 2025/2026
QUESTIONS AND ANSWERS 100% PASS
A _________ is a story of how the firm will create value for customers and, more important,
how it will do so profitably. - ANS business model
Which of the following is an example of a variable cost for a firm?
a. rent
b. property tax
c. raw materials
d. insurance
e. machinery depreciation - ANS c. raw materials
During which phase of the strategic management process does a strategic planning group use
the company's mission and goals, external threats and opportunities, and internal strengths and
weaknesses to generate strategic alternatives? - ANS strategy formulation
T/F: The HRM function needs to be involved in each component of a firm's strategic
management process. - ANS true
-a firm's strategic mgt decision-making process usually takes place at its top levels, with a
strategic planning group consisting of the CEO, CFO, the president, and various VP's; however,
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, each component of the process involves people-related business issues, therefore all
components need to be involved
H&N Corp., an online book retailer, has been the market leader for the last three years.
However, a new firm, Booksie Inc., recently set up its own online store and is eating into H&N's
market share. In the context of strategic factors, Booksie represents what? - ANS a threat
___________(s) include potential labor shortages, new competitors entering the market,
pending legislation that might adversely affect the company, and competitors' technological
innovations. - ANS threats
______________ analysis consists of examining the organization's operating environment to
identify the strategic opportunities and threats. - ANS external analysis
-opportunities examples: customer markets that are not being served, technological advances
that can aid the company, and labor pools that have not been tapped
Define training: - ANS refers to a planned effort to facilitate the learning of job-related
knowledge, skills, and behavior by employees
Define development: - ANS involving acquiring knowledge, skills, and behavior that improve
employees' ability to meet the challenges of a variety of existing jobs of jobs that do not yet
exist
Sol Tech, an alternative energy company, recently introduced a new line of solar energy
equipment. The company wants all of its employers to be familiar with the features of the new
equipment as well as its maintenance requirements. Which HRM practice will help Sol Tech's
employees acquire the knowledge and skills needed to make their solar energy products a
success? - ANS Training and development
__________ alignment means that HR practices and processes are aimed at addressing the
strategic needs of a business. - ANS vertical alignment
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
MANAGEMENT) EXAM 1 2025/2026
QUESTIONS AND ANSWERS 100% PASS
A _________ is a story of how the firm will create value for customers and, more important,
how it will do so profitably. - ANS business model
Which of the following is an example of a variable cost for a firm?
a. rent
b. property tax
c. raw materials
d. insurance
e. machinery depreciation - ANS c. raw materials
During which phase of the strategic management process does a strategic planning group use
the company's mission and goals, external threats and opportunities, and internal strengths and
weaknesses to generate strategic alternatives? - ANS strategy formulation
T/F: The HRM function needs to be involved in each component of a firm's strategic
management process. - ANS true
-a firm's strategic mgt decision-making process usually takes place at its top levels, with a
strategic planning group consisting of the CEO, CFO, the president, and various VP's; however,
1 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
, each component of the process involves people-related business issues, therefore all
components need to be involved
H&N Corp., an online book retailer, has been the market leader for the last three years.
However, a new firm, Booksie Inc., recently set up its own online store and is eating into H&N's
market share. In the context of strategic factors, Booksie represents what? - ANS a threat
___________(s) include potential labor shortages, new competitors entering the market,
pending legislation that might adversely affect the company, and competitors' technological
innovations. - ANS threats
______________ analysis consists of examining the organization's operating environment to
identify the strategic opportunities and threats. - ANS external analysis
-opportunities examples: customer markets that are not being served, technological advances
that can aid the company, and labor pools that have not been tapped
Define training: - ANS refers to a planned effort to facilitate the learning of job-related
knowledge, skills, and behavior by employees
Define development: - ANS involving acquiring knowledge, skills, and behavior that improve
employees' ability to meet the challenges of a variety of existing jobs of jobs that do not yet
exist
Sol Tech, an alternative energy company, recently introduced a new line of solar energy
equipment. The company wants all of its employers to be familiar with the features of the new
equipment as well as its maintenance requirements. Which HRM practice will help Sol Tech's
employees acquire the knowledge and skills needed to make their solar energy products a
success? - ANS Training and development
__________ alignment means that HR practices and processes are aimed at addressing the
strategic needs of a business. - ANS vertical alignment
2 @COPYRIGHT 2025/2026 ALLRIGHTS RESERVED
