test_tem_file_ch03.docVIP

Chapter 3: Strategic HRM and the HR Scorecard Multiple Choice A _____ is the company’s plan for how it will match its internal strengths and weaknesses with external opportunities and threats to maintain a competitive advantage. strategic plan situation analysis environmental scan SWOT analysis tactical plan (a; easy) Which of the following is not part of strategic planning? evaluating the firm’s internal and external situation defining the business and developing a mission translating the mission into strategic goals crafting a course of action implementing strategies (e; moderate) The purpose of a strategic plan it to identify ways to create or maintain a(n) _____. differential advantage competitive advantage instrumental advantage success factor all of the above (b; moderate) What is the first step in the strategic management process? perform external and internal audits define the business and its mission translate the mission into strategic goals formulate a strategy implement the strategy (b; easy) A _____ is a general statement of intended direction that evokes emotional feelings in organization members. mission strategic plan code of ethics vision none of the above (d; easy) Vision statements focus on the _____. past present future all of the above none of the above (c; easy) A _____ lays out what a business strives to be while the _____ lays out what it should be now. mission; vision vision; mission dream; vision goal; accomplishment CEO; CFO (b; easy) Defining the business and its mission is the _____ step in the strategic management process. first second third fourth fifth (a; moderate) Performing external and internal audits is the _____ step in the strategic management process. first second third fourth fifth (b; moderate) The third step in the strategic management process is _____. perform external and internal audits define the business and its mission translate the mission into strategic goals formulate a strategy implement the