Business Management - Competency #1 (PHR)

Which best describes corporate social responsibility?

A. Corporate social responsibility is a policy mandated by the government to coerce corporations to improve their communities
B. Corporate social responsibility refers to the responsibility that corporations have toward shareholders
C. Corporate social responsibility is an issue of ethics, pursued by corporations that see the health of their business as contingent upon the health of their community
D. Corporate social responsibility refers to the social climate of the organization and the policies created to sustain the strength of that climate
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Terms in this set (30)
Which best describes corporate social responsibility?

A. Corporate social responsibility is a policy mandated by the government to coerce corporations to improve their communities
B. Corporate social responsibility refers to the responsibility that corporations have toward shareholders
C. Corporate social responsibility is an issue of ethics, pursued by corporations that see the health of their business as contingent upon the health of their community
D. Corporate social responsibility refers to the social climate of the organization and the policies created to sustain the strength of that climate
C
CSR can be evaluated on which three P's of the "triple bottom line"?

A. People, prizes, and proxy
B. Planet, profit, and projects
C. People, profit, and prizes
D. People, planet, and profit
D
What's the purpose of a vision statement?

A. A vision statement is a memo drafted by management that articulates that if company policy is breached, there will be severe consequences
B. A vision statement is a succinct explanation of how an organization plans to deliver quality products/services
C. A vision statement is a lengthy and detailed speech given by a CEO to shareholders and other investors
D. A vision statement is a short address that low-level employees give to management
B
In regard to corporate social responsibility, the most common ways for a corporation to assimilate into a community includes all of the following EXCEPT?

A. Establish alliances with respected members of the community and outside organizations
B. Deliver inexpensive goods and services for the community
C. Hiring as many locals as possible
D. Maximizing their profits despite any consequences to the surrounding environment
D
What's the primary purpose of organizational branding?

I. The intent of organizational branding is letting customers know when they walk into a store
II. One purpose of organizational branding is to establish a distinctive image for consumers to automatically recognize
III. Organizational branding allows entities to create a perception of the values and ethics for which it stands
IV. Organizational branding focuses on promoting the benefits of the company in order to appeal to a target audience

A. I, II, and IV
B. I, III, and IV
C. I and III
D. I, II, and III
D
What is the main purpose of a cost-benefit analysis?

A. When evaluating a policy or program, a cost-benefit analysis empirically tests its efficacy to ensure that resources aren't squandered
B. Cost-benefit analyses are rarely conducted because they are expensive and unreliable
C. When evaluating a policy or program, a cost-benefit analysis is conducted that rationally tests its efficacy to ensure that resources aren't squandered. However, because cost-benefit analyses are antiquated, management typically decides on the policy or program based on its organizational popularity
D. A cost-benefit analysis is the empirical testing of a policy or program. However, management is typically disdainful of them because of a belief that the testers are inherently biased
A
What are business metrics?

A. Business metrics are quantifiable measures that describe the productive capacity of a policy, program, or product
B. Business metrics are informal activities that management occasionally conducts in order to discover the feasibility of a policy, program, or product
C. Business metrics are typically utilized to weed out underperforming employees
D. Business metrics are meetings with representatives from each department to voice concerns and establish harmonious, firm-wide standards and practices
A
All of the following are part of the core meaning of competitive advantage EXCEPT?

A. Competitive advantage is the practice of constantly attempting to increase market share by exploiting advantages
B. By constantly developing a labor force and technology, competitive advantage is pursued by all corporations in order to edge out competitors in the market
C. It's mandatory that organizations pursue policies of competitive advantage because they all want to maximize output and increase market share
D. Competitive advantage is a type of benefit that customers believe they could not get anywhere else
D
Which of the following statements LEAST describes corporate governance?

A. Corporate governance is the established policies, rules, and standards that organizations follow in order to fulfill its vision and goal as a for-profit entity and a stakeholder in the broader community
B. Public policy influences corporate governance, i.e., the Sarbanes=Oxley Act
C. Corporate governance addresses rules, practices, and institutions that protect and manage ecosystems in relation to the environment
D. Corporate governance is necessary to establish an organization's self-image and can be used as an instrument to restore institutional trust
C
Which of the following is true about corporate restructuring?

A. Corporate restructuring is intended to make a firm more competitive
B. Corporate restructuring is a change in operations, legal code, or ownership inside of a firm
C. Corporate restructuring is only a euphemism for cutting labor and lowering wages
D. The principal purpose of corporate restructuring is to increase profits for senior executives
B
Which of the following best describes enterprise risk management (ERM)? A. Enterprise risk management is when each department crafts its own policies and procedures for handling issues of risk and loss B. Enterprise risk management policies are crafted only by senior executives and then handed down to all department to follow C. Enterprise risk management is the process of establishing a broad but comprehensive protocol for handling issues of risk and loss D. Enterprise risk management is when a company participates in a high-risk situation in order to maximize profits for the good of the companyCAll of the following is true about offshoring EXCEPT? A. Offshoring is typically done to reduce costs of business B. Offshoring involves shifting business operations to a country where business can be conducted at lower costs C. The only beneficiary of offshoring is the company itself D. Offshoring is one aspect of corporate restructuring that permits a company to remain competitiveCAll of the following is necessary for an organization to pay attention to the legislative and regulatory environment EXCEPT? A. To anticipate changes and craft corporate governance policies that address new regulations and legislation B. To engage in lobbying efforts in order to fight proposed changes that could be damaging to the corporation C. To modify and make new legislative and regulatory changes more palatable D. To examine competitors and match their own legislation to that of other corporationsDWhich definition most accurately explains a whistle-blower? A. A whistle-blower is a person who reports any unethical information about an organization B. A whistle-blower is a person hired by an organization to cover up illicit or unethical behavior C. A whistle-blower is a person who reports or publicizes any illegal or unethical information about the institution. Whistle-blower status is only granted when the organization is private D. A whistle-blower reports or publicizes any illegal or unethical information about the institution. Whistle-blower status is only granted when the organization is publicAWhich of the following is NOT a key component of a business plan? A. Annual goals B. Projected growth targets C. Net income expectations D. Bonuses for executivesDA stakeholder is any actor that affects or can be affected by a business but doesn't own property of the business. Which of the following groups of people are NOT stakeholders? A. Employees B. Surrounding businesses C. Shareholders D. The local communityCWhich of the following best describes mergers and acquisitions (M&A)? A. Mergers occur temporarily in order to consolidate resources and beat out a competitor; acquisitions occur permanently B. Mergers occur when one company purchases another without a new company being formed. Acquisitions occur when two companies combine to form a new one C. Mergers occur when two companies combine to form a new one. Acquisitions occur when one company purchases another without a new company being formed D. Mergers and acquisitions often occur temporarily in order to consolidate resources and beat out a competitor; then the actions are rescinded, and the entities disbandCWhen performing a cost-benefit analysis of a proposed project, what is a project worker's salary an example of? A. A stakeholder B. A cost C. A benefit D. A dependent variableBWhen making project proposals to leadership, HR professionals should have a written outline containing everything EXCEPT: A. A timeline B. Milestones C. The fiscal year D. Resources neededCMyra and Angela are two HR professionals who work in the same organization. Recently, Myra successfully implemented a sustainability initiative with the marketing department, where she helped them reduce the amount of paper they use. This led to saved paper, printing, and labor costs as well as reduced physical waste. Angela would like to try this initiative with the finance department, which is welcome to this idea. How can Angela begin to allocate resources for this project? A. Copy Myra's initiative as closely as possible, right down tot eh budget and timeline B. Use her best guess to document what she believes the finance department will need in order to reduce their paper waste, and provide a written copy to the manager C. Set up a meeting with Myra to discuss how she allocated resources and what went successfully, as well as what did not go successfully, and use this data to plan D. Ask the HR intern to devote all of his time to her initiativeCMichael leads and HR department at a federal agency. He is in the planning stage for the new fiscal year and is thrilled that he has created initiatives that are highly detailed and comprehensive and use the resources of contracts his agency currently has in place. He is very attached to the outcomes of these initiatives. However, a presidential election is taking place in one month that will likely affect the contracts that are awarded to his agency. What can Michael do to protect his new fiscal year plans? A. Ensure that there is leftover money from the previous fiscal year to serve as a cushion should he not receive expected contracts B. Create backup plans for all of the contracts that may be affected, while calmly accepting that some changes may be unanticipated and out of his control C. Nothing, he has already distributed them to employees and archived them on the organization's severs D. Find a new jobBLarry manages three HR employees. Jane is in charge of compensation and benefit tasks, Ira is in charge of risk management tasks, and Samir is in charge of recruitment and hiring. Samir has an illness that takes him out of the office for six weeks, and during this time, all recruitment and hiring processes freeze. This majorly impacts two other departments that were waiting on new employees to begin. How could this situation have been prevented? A. Larry should have cross-trained his three employees to fill in for each other should emergencies come up B. Samir should have worked remotely to handle the candidates needed by the other two departments C. Larry should have filled in for Samir's role for the entire duration of his absence D. Ira should have analyzed Samir's workday operations to see if anything at work caused his illnessAWhat is the most crucial aspect of successfully implementing organizational change? A. Work ethic B. Leadership buy-in C. Highly compensated employees D. Terminating employees who do not agreeBAn employee sees a close colleague change numbers in an accounting spreadsheet to reflect incorrect values. The employee feels uncomfortable reporting the colleague, due to their friendship and close working relationship. However, the employee feels very concerned about the situation. What is one feasible resource that could help this employee in a situation like this? A. An anonymous and confidential HR hotline B. A close relationship with a superior C. An in-house coffee shop where the employee can go with the colleague to discuss their feelings about the situation D. Regular communication training sessionsAWhat is the best way for HR leaders to communicate acceptable and ethical behaviors in the workplace? A. Provide written protocols about what constitutes as ethical and unethical behavior B. Relay that employees are continuously monitored with in-house cameras, so they should be especially mindful of their work behavior C. Model acceptable and ethical behavior themselves, as much as possible D. Tell employees at their new hire orientationCThe CEO of a company holds bi-weekly meetings with his entire organization to relay new information about company performance, trends, and personal opinions relating to the industry. What is this an example of? A. Transparency B. Overshare C. Validation D. Process controlAWhere should an employee first encounter an organization's ethical standards and policies? A. At the new hire orientation B. During the first interview C. In the job posting for their role D. By reading a company press releaseCThe vice-president of an organization has noticed that a particular employee, Ben, has been working extremely hard and has made a positive impression on a large majority of the organization's leadership. The vice-president meets with ben and asks him about his work. Ben shared all of the accomplishments that his team has achieved in the last quarter. What is Ben displaying during this meeting? A. Ego B. Individualistic behavior C. Team-oriented culture D. HumilityCDuring a project meeting, Mary creates a table that includes a detailed description of every tasks needed for the project, a deliverable date for each tasks, and the owner of each task. Each member is able to access and update the table with status updated. What is Mary helping her team do? A. Helping each member feel accountable B. Micromanaging C. Modeling ethical beahvior D. Collecting dataASoliciting feedback from stakeholders is an important part of which of the following process stages? A. Evaluation B. Control C. Testing D. DocumentationA