1. Which of the following is a practice of forecasting possible risks to the organization and taking steps to mitigate their impact on operations?
A) Applicant tracking systems B) HR audit C) Timekeeping D) Enterprise risk management
2. Which of the following ensures that the product or service meets acceptable standards?
A) Scheduling B) Facility location C) Inventory management D) Quality management
3. Which of the following is one of the elements of a SMART goal?
A) Action-oriented B) Strength C) Technology D) Threat
4. What is the purpose of an HR budget?
A) To evaluate the effectiveness of HR strategy B) To determine how much cash is required to achieve a goal C) To hold departments accountable for outcomes D) To ensure that the outcomes match the strategic plan
5. Which of the following is similar to a general partnership but is formed for a limited time frame?
A) General Partnership B) Joint Venture C) Limited Partnership D) Corporation
1. Right Answer: D Explanation: Answer option D is correct.Chapter: Business Management and StrategyObjective: Strategic Management
2. Right Answer: D Explanation: Answer option D is correct.Chapter: Business Management and StrategyObjective: Organizations
3. Right Answer: A Explanation: Answer option A is correct.A SMART goal is specific, measurable, action-oriented, realistic, and time-based.Chapter: Business Management and StrategyObjective: Review Questions
4. Right Answer: B Explanation: Answer option B is correct.An HR budget reflects how many and what types of resources are necessary to accomplish a goal. The addition of employees, costs to train, and the purchase of new equipment are all examples of items that require cash to achieve strategic goals.Chapter: Business Management and StrategyObjective: Review Questions
5. Right Answer: B Explanation: Answer option B is correct.Chapter: Business Management and StrategyObjective: Organizations
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