Types of Board Members
149 Questions
1 Views

Choose a study mode

Play Quiz
Study Flashcards
Spaced Repetition
Chat to lesson

Podcast

Play an AI-generated podcast conversation about this lesson

Questions and Answers

What role does the board play in relation to integrity within a company?

  • Setting the ethical tone for the company (correct)
  • Overseeing risk exposures
  • Communicating executive compensation decisions
  • Implementing policies related to talent management

    • What distinguishes the shareholder model from the stakeholder model of corporate governance?

  • Number of customers involved
  • Employees' ownership percentage
  • Community engagement level
  • Return on investment priority (correct)

    • In corporate governance, what does a shareholder typically own?

  • The strategic plan of the company
  • A percentage of the company's employees
  • At least one share of a company's stock (correct)
  • A stake in multiple companies

    • Which aspect of corporate governance deals with strategic, operational, financial, and compliance risk exposures?

    <p>Risk oversight</p> Signup and view all the answers

    What is the primary focus of the board when overseeing talent programs in a company?

    <p>Identifying potential CEO successors</p> Signup and view all the answers

    What is the primary goal of strategy according to the text?

    <p>Creating value for shareholders and stakeholders</p> Signup and view all the answers

    In strategic planning, what is the purpose of a SWOT analysis?

    <p>To evaluate internal strengths and weaknesses, and external opportunities and threats</p> Signup and view all the answers

    Why might stakeholder expectations vary in a global organization?

    <p>As a result of societal differences and norms</p> Signup and view all the answers

    Which aspect of strategic planning involves deciding on the countries or industries an organization should participate in?

    <p>Market selection strategy</p> Signup and view all the answers

    How does strategic management differ from strategic planning?

    <p>Strategic management is about operational decisions, while strategic planning is about setting overall goals</p> Signup and view all the answers

    What is the primary role of inside directors on a board?

    <p>Implementing and monitoring business strategy</p> Signup and view all the answers

    How do independent directors impact governance within a board?

    <p>Dilute the concentration of power</p> Signup and view all the answers

    What is a key responsibility of the board chairman?

    <p>Formulating the company's business strategy</p> Signup and view all the answers

    How are inside directors different from independent directors?

    <p>Independent directors do not have ties to insiders</p> Signup and view all the answers

    Which category of board members is responsible for maintaining strong communication with executives?

    <p>Chairman</p> Signup and view all the answers

    What is the primary role of the board of directors in corporate governance?

    <p>To set the objectives of the company and monitor performance</p> Signup and view all the answers

    How does corporate governance help in decision-making within a company?

    <p>By providing a structure for setting objectives and determining means to attain them</p> Signup and view all the answers

    Which stakeholder group is responsible for electing or appointing directors to a company's board?

    <p>Shareholders</p> Signup and view all the answers

    In corporate governance, what is emphasized when shareholder resolutions prioritize social or environmental concerns?

    <p>Setting objectives beyond financial aspects</p> Signup and view all the answers

    Which statement best describes the system of corporate governance?

    <p>It provides a structure for setting company objectives and monitoring performance.</p> Signup and view all the answers

    What is a common criticism of the stakeholder model?

    <p>It involves too many competing interests.</p> Signup and view all the answers

    In the context of high tech companies, what unique situation do they present?

    <p>They tend to mirror the market stage they are in.</p> Signup and view all the answers

    How does the stakeholder model impact industrial relations, as seen in Germany?

    <p>It fosters a relatively peaceful industrial relations environment.</p> Signup and view all the answers

    What does the long-term approach in the stakeholder model encourage management to do?

    <p>Develop training programs for labor.</p> Signup and view all the answers

    How do high tech companies tend to develop their structure in relation to the market stage they are in?

    <p>Their structure mirrors the market stage they are in.</p> Signup and view all the answers

    Under the shareholder model, what tends to happen to social protection?

    <p>It weakens or gets privatized</p> Signup and view all the answers

    What is one of the negative consequences mentioned in the text regarding the emphasis on short-term gains for shareholders?

    <p>Discouragement of long-term human capital development</p> Signup and view all the answers

    What impact does the shareholder model have on labor market flexibility, according to the text?

    <p>It discourages labor market flexibility</p> Signup and view all the answers

    How does management's speculative behavior influence stock prices, as per the text?

    <p>It can cause stock prices to rise or fall</p> Signup and view all the answers

    Who are considered stakeholders based on the provided text?

    <p>Anybody who can affect or is affected by an organization, strategy or project</p> Signup and view all the answers

    What is the main purpose of having outside directors on a board?

    <p>To provide unbiased and impartial perspectives</p> Signup and view all the answers

    How does the board's strategy element ensure alignment with company strategy?

    <p>By advising management on strategic priorities aligned with company mission</p> Signup and view all the answers

    What is a key responsibility of the board under the performance governance element?

    <p>Approving company strategy and financial plans</p> Signup and view all the answers

    In the context of governance, what does the board consider when fulfilling its responsibilities?

    <p>Perspectives of investors, regulators, and management among others</p> Signup and view all the answers

    What is a primary focus of the board when advising management in strategic development?

    <p>Aligning with the organization's mission and stakeholder interests</p> Signup and view all the answers

    How does the board ensure transparency in strategic plan communication?

    <p>By actively monitoring internal and external communication of plans</p> Signup and view all the answers

    What is the primary responsibility of the HR forecaster?

    <p>Estimating numbers of people and jobs needed by an organization</p> Signup and view all the answers

    In the context of HR forecasting, what is the purpose of skills profiling?

    <p>To assess the skills and competencies of current employees</p> Signup and view all the answers

    What is a key benefit of utilizing internal sources of information for HR forecasting?

    <p>Higher accuracy in predicting future workforce needs</p> Signup and view all the answers

    How do computerized HR systems aid in workforce supply analysis?

    <p>By providing real-time data on employee turnover rates</p> Signup and view all the answers

    In HR forecasting, what is the purpose of personnel replacement charts?

    <p>To plan for unexpected departures or vacancies within the organization</p> Signup and view all the answers

    What is a key purpose of personnel replacement charts in HR management?

    <p>To show present performance and promotability for potential replacements</p> Signup and view all the answers

    How do computerized information systems contribute to HR management?

    <p>By tracking the qualifications of hundreds or thousands of employees</p> Signup and view all the answers

    What is a primary benefit of using computerized HR systems compared to manual systems?

    <p>Increased feasibility of keeping information provided up-to-date</p> Signup and view all the answers

    Which statement best describes the purpose of position replacement cards in HR management?

    <p>To show possible replacements along with their performance and potential</p> Signup and view all the answers

    How do personnel replacement charts differ from position replacement cards in HR management?

    <p>Personnel replacement charts show promotability, while position replacement cards track qualifications</p> Signup and view all the answers

    What is the primary purpose of strategic workforce planning according to the text?

    <p>To match the right skills with the right positions</p> Signup and view all the answers

    Why is integrating business planning with human resource planning becoming more important for organizations?

    <p>Due to changes in business, economic, and social environments creating uncertainties</p> Signup and view all the answers

    How does a HR executive describe the role of Human Resources in the strategic planning process?

    <p>Part of policy development, line extension planning, and merger and acquisition processes</p> Signup and view all the answers

    What is a key component of business planning that strategic workforce planning helps in developing?

    <p>Developing a workforce action plan</p> Signup and view all the answers

    How does having the right skills matched with the right positions impact a company's long-term success?

    <p>It makes meeting long-term objectives easier</p> Signup and view all the answers

    What is a key benefit of using employee onboarding software, as described in the text?

    <p>Personalized onboarding experiences</p> Signup and view all the answers

    What function does employee engagement software primarily serve within an organization?

    <p>Facilitating employee feedback and recognition</p> Signup and view all the answers

    Which tool is NOT typically provided by computerized HR systems based on the information provided?

    <p>Budget creation support</p> Signup and view all the answers

    What is a primary advantage of utilizing branded careers websites in the recruitment process?

    <p>Enhanced candidate communication management</p> Signup and view all the answers

    What distinguishes qualitative forecasting methods from quantitative forecasting methods in human resource demand assessment?

    <p>They focus on future expectations rather than desired outcomes.</p> Signup and view all the answers

    In workforce supply analysis, individuals are matched to positions based on which criteria?

    <p>Career aspirations and tenure in existing jobs</p> Signup and view all the answers

    What is a chief advantage of linear programming, goal programming, and assignment models in HR forecasting?

    <p>Facilitating cost control</p> Signup and view all the answers

    Which category of internal sources of information is used in skills profiling for HR purposes?

    <p>Performance reviews</p> Signup and view all the answers

    What role do computerized HR systems play in personnel replacement charts?

    <p>Provide real-time access to employee information</p> Signup and view all the answers

    What is a key advantage of giving new hires access to training systems or an online portal before they start working?

    <p>Helps new hires prepare questions in advance</p> Signup and view all the answers

    How does utilizing modern HR tech tools impact traditional recruitment strategies?

    <p>Automates tedious and time-consuming processes</p> Signup and view all the answers

    Why is it important for new hires to have a schedule of what their first week might look like before they start?

    <p>To help them settle faster and reduce anxiety</p> Signup and view all the answers

    What is a potential consequence of not providing new hires with the handbook and contract well ahead of starting?

    <p>Increase in questions from new hires</p> Signup and view all the answers

    How do programmatic recruitment marketing platforms differ from traditional 'spray and pray' recruitment strategies?

    <p>Reduce the cost of recruitment marketing</p> Signup and view all the answers

    What is the primary purpose of personnel replacement charts in HR forecasting?

    <p>To track employee turnover rates</p> Signup and view all the answers

    How do computerized HR systems assist in workforce supply analysis?

    <p>By comparing current and future workforce headcounts</p> Signup and view all the answers

    What is the main benefit of utilizing internal sources of information for HR forecasting?

    <p>Reduced costs associated with external data collection</p> Signup and view all the answers

    In the context of HR forecasting, what is the purpose of skills profiling?

    <p>To identify training needs for current employees</p> Signup and view all the answers

    How does the projection of matching headcount requirements to availabilities impact staffing levels?

    <p>Leads to full staffing in the organization</p> Signup and view all the answers

    What does an FTE of 1.0 signify?

    <p>The person is equivalent to a full-time worker</p> Signup and view all the answers

    In staffing quantity planning, what does being 'fully staffed' mean?

    <p>Matching headcount requirements with availabilities</p> Signup and view all the answers

    What is the main focus of person/organization match in staffing quality?

    <p>Assessing how well an individual fits into the organization</p> Signup and view all the answers

    What is the purpose of comparing workforce quantity requirements to availabilities in organizations?

    <p>To determine likely staffing levels</p> Signup and view all the answers

    What type of worker does the headcount in organizations typically exclude?

    <p>Independent contractor</p> Signup and view all the answers

    In HR forecasting, what does staffing quality refer to?

    <p>Aligning individual characteristics with job requirements</p> Signup and view all the answers

    What is the primary purpose of staffing strategy in organizations?

    <p>To identify and address the staffing implications of change</p> Signup and view all the answers

    Why is long-term human resource planning becoming critical in organizations?

    <p>To meet the demands of the rapidly changing marketplace</p> Signup and view all the answers

    What is a key challenge faced when staffing the upper echelons of organizations?

    <p>Limited pool of people and jobs involved</p> Signup and view all the answers

    How does long-term human resource planning differ from short-term planning?

    <p>Short-term planning is reactive while long-term planning is proactive</p> Signup and view all the answers

    Why is it difficult logistically to orchestrate developmental experiences for a large number of employees?

    <p>Because development is best accomplished through job rotation</p> Signup and view all the answers

    What is essential for effective human resource planning to ensure the right people are in the right place at the right time?

    <p>Integration with strategic organizational plans</p> Signup and view all the answers

    How does a two-way linkage between business plans and human resource planning benefit organizations?

    <p>It allows human resource considerations to influence business plans</p> Signup and view all the answers

    What can happen if a company does not have a strong linkage between business and human resource planning?

    <p>Performance goals may not be met</p> Signup and view all the answers

    Why do some organizations recognize the need for a two-way linkage between business and human resource planning?

    <p>To align business objectives with people-planning activities</p> Signup and view all the answers

    What is one way in which the board can influence business plans according to modern practices?

    <p>By considering human resource costs and availability during planning</p> Signup and view all the answers

    What is the main purpose of classifying employees by age in HR forecasting?

    <p>To project expected numbers of retirements</p> Signup and view all the answers

    When positions are categorized by level, what is the main purpose according to the text?

    <p>To relate positions to decision-making authority</p> Signup and view all the answers

    In HR planning, what is one common approach used by managers to estimate staffing needs?

    <p>Relying on intuitive estimates of people needed</p> Signup and view all the answers

    What is the importance of identifying predictors that are proportionate in forecasting HR needs?

    <p>Changes in production levels must affect staffing levels and vice versa</p> Signup and view all the answers

    How do HR planners typically arrive at forecasts of HR needs according to the text?

    <p>By surveying managers at each level</p> Signup and view all the answers

    What is the primary role of organization charts and budget documents in HR forecasting?

    <p>To provide a snapshot of present conditions</p> Signup and view all the answers

    In HR planning, why are individualized career profiles considered important?

    <p>To summarize information relevant to individual performance</p> Signup and view all the answers

    What is the primary challenge highlighted in determining predictors for HR forecasting according to the text?

    <p>The lack of available research on predictors being used</p> Signup and view all the answers

    How do HR planners determine the relationship between people, positions, and organizational outputs?

    <p>By identifying proportionate predictors that relate changes in production levels to staffing levels</p> Signup and view all the answers

    What can happen in very small firms operating in a stable environment where labor demand equals labor supply?

    <p>No action need to be taken.</p> Signup and view all the answers

    In large organizations facing dynamic conditions, what is the likelihood of labor demand equaling labor supply?

    <p>Low likelihood</p> Signup and view all the answers

    What is a potential method that may be used to equate labor demand and labor supply during a situation where demand is less than supply?

    <p>Reduced working hours</p> Signup and view all the answers

    What type of strategies help fill the remaining staffing gap after demand-side strategies have been implemented?

    <p>Supply-side strategies</p> Signup and view all the answers

    What does workforce development aim to achieve in the context of staffing gaps?

    <p>Grow future applicant pools by supporting schools and apprenticeship programs</p> Signup and view all the answers

    What impact does reorganization have on staffing needs according to the text?

    <p>Reduces staffing needs by expanding supervisory control</p> Signup and view all the answers

    Which factor may drive the loss of staff in an organization according to the text?

    <p>Competitive wage inflation</p> Signup and view all the answers

    "Retention incentives and employee engagement strategies" are associated with which type of staffing strategy?

    <p>Demand-side strategies</p> Signup and view all the answers

    What does environmental scanning focus on according to the text?

    <p>Content changes over time</p> Signup and view all the answers

    What do supply-side strategies help with in relation to staffing gaps?

    <p>Fill the remaining staffing gap after demand-side strategies</p> Signup and view all the answers

    What is the responsibility of the HR forecaster in estimating HR needs?

    <p>Forecast demand based on future HR requirements</p> Signup and view all the answers

    How does the HR forecaster estimate HR needs in the simplest sense?

    <p>By subtracting HR supplies from expected HR demands</p> Signup and view all the answers

    What is the primary role of a HR planner in the forecasting process?

    <p>Forecast demand by analyzing current HR requirements</p> Signup and view all the answers

    How does the HR forecaster assess internal labor supply?

    <p>By examining current employee appraisal information</p> Signup and view all the answers

    What is emphasized in the final step of the forecasting process according to the text?

    <p>Comparison of supply and demand</p> Signup and view all the answers

    In the context of human resources planning, what is the purpose of assessing external labor supply?

    <p>To forecast expected demand</p> Signup and view all the answers

    What aspect does the scholar indicate as consisting of six steps in the forecasting process?

    <p>Forecasting demand</p> Signup and view all the answers

    What is an essential step in human resources planning according to the text?

    <p>Analyzing current employee appraisal information</p> Signup and view all the answers

    What is a key function of the HR forecaster when assessing external labor supply?

    <p>Evaluate turnover patterns and skills utilization</p> Signup and view all the answers

    What is a crucial aspect addressed in the comparison of supply and demand during forecasting?

    <p>The expected demand compared to desired demand</p> Signup and view all the answers

    What is the main difference between qualitative and qualitative/normative forecasting?

    <p>Intent is different</p> Signup and view all the answers

    Why are many mathematical methods less often used in practice for Human Resource Planning (HRP)?

    <p>Managers are skeptical of quantitative forecasts</p> Signup and view all the answers

    What is a common reason why not all HR planners apply all forecasting methods?

    <p>Lack of appropriate skills</p> Signup and view all the answers

    What method can be used by qualitative/normative forecasting that relies on the judgment of experts and aims to achieve consensus?

    <p>Delphi technique</p> Signup and view all the answers

    What is the purpose of demand forecasting in HR planning?

    <p>To estimate future staffing requirements and match them with supply.</p> Signup and view all the answers

    Why is reliance on specific forecasting approaches sometimes rendered inappropriate?

    <p>Problems confronting organizations change</p> Signup and view all the answers

    What factors can contribute to changes in labor demand according to the text?

    <p>Economic conditions, organizational objectives, and productivity levels.</p> Signup and view all the answers

    Which step in HR forecasting involves analyzing the supply of labor in the workforce?

    <p>Step Five</p> Signup and view all the answers

    What is the driving force in HR planning according to the text?

    <p>Demand forecasting.</p> Signup and view all the answers

    How do staffing requirements vary in response to seasonal changes or fluctuating workloads?

    <p>They increase temporarily during busy periods.</p> Signup and view all the answers

    What is a key benefit of conducting demand forecasting in HR planning?

    <p>Matching recruitment strategies with organizational needs.</p> Signup and view all the answers

    How do changes in productivity levels affect labor demand?

    <p>Labor demand increases when productivity increases.</p> Signup and view all the answers

    What is one of the reasons for conducting demand forecasting according to the text?

    <p>Preventing shortages of staff where needed.</p> Signup and view all the answers

    What is the primary source of dissatisfaction with traditional methods of addressing demand forecasting?

    <p>Applying well-established methods.</p> Signup and view all the answers

    How can demand forecasting help control costs associated with human resources?

    <p>By ensuring recruitment matches organizational needs.</p> Signup and view all the answers

    What is a key aspect of the moving average method mentioned in the text?

    <p>It projects data from recent periods into the future by taking simple means.</p> Signup and view all the answers

    What is a disadvantage of using the moving average method for forecasting HR demand?

    <p>It ignores seasonal or cyclical patterns.</p> Signup and view all the answers

    In the context of exponential smoothing, how is the forecast error computed?

    <p>Present demand minus present forecast</p> Signup and view all the answers

    What is a distinguishing feature of trend projections in HR forecasting?

    <p>They rely heavily on past data.</p> Signup and view all the answers

    What distinguishes regression models from trend projections in HR forecasting?

    <p>Regression models relate staffing and output variables using mathematical regression formulas.</p> Signup and view all the answers

    How do flow models, specifically Markov models, contribute to HR forecasting?

    <p>By estimating probabilities of transitions between different states based on past trends.</p> Signup and view all the answers

    What is a key aspect that the time horizon for strategic business plans should coincide with in HR forecasting?

    <p>Planning horizon desired</p> Signup and view all the answers

    How does the number of states impact the effectiveness of Markov models in HR forecasting?

    <p>An optimal number of states avoids overlap and considers all possible categories.</p> Signup and view all the answers

    What is a disadvantage of both exponential smoothing and moving averages for HR planning?

    <p>Their basis is the past rather than the future.</p> Signup and view all the answers

    In what way do regression models differ from trend projections in HR forecasting?

    <p>Regression models relate multiple variables to forecast outcomes.</p> Signup and view all the answers

    How does flow modeling contribute to HR forecasting?

    <p>By estimating probabilities of transitions between different states.</p> Signup and view all the answers

    What is a key difference between quantitative/descriptive and quantitative/normative demand forecasting methods mentioned in the text?

    <p>Quantitative/descriptive methods focus on future expectations, while quantitative/normative methods optimize numbers of people and positions.</p> Signup and view all the answers

    Linear programming is considered appropriate when managers seek a single, well-defined objective. What other condition must exist for linear programming to be suitable?

    <p>A non-linear relationship exists between the objective and constraints.</p> Signup and view all the answers

    What distinguishes assignment models from linear programming, goal programming, and Markov analysis in HR forecasting?

    <p>Assignment models match individuals to job vacancies based on job tenure.</p> Signup and view all the answers

    What is one of the disadvantages mentioned in the text regarding the use of quantitative/normative demand forecasting methods?

    <p>They require sophisticated mathematics, causing skepticism among managers.</p> Signup and view all the answers

    How do qualitative/descriptive forecasting methods differ from quantitative/normative methods in assessing HR demand?

    <p>Qualitative methods do not focus on what is expected in the future, unlike quantitative methods.</p> Signup and view all the answers

    What is a primary advantage of using goal programming in HR forecasting?

    <p>It pinpoints attainable and optimal goals by comparing discrepancies between targets and results.</p> Signup and view all the answers

    Why are some managers skeptical about using methods like linear programming, goal programming, and assignment models in HR forecasting?

    <p>Managers often struggle to comprehend the complex mathematics behind these methods.</p> Signup and view all the answers

    'Qualitative/descriptive' methods differ from 'quantitative/normative' methods mainly in that _____

    <p>'Qualitative/descriptive' methods are future-oriented while 'quantitative/normative' methods rely on past data.</p> Signup and view all the answers

    More Like This

    Independent Directors
    3 questions

    Independent Directors

    ExcellentUvite avatar
    ExcellentUvite
    Corporate Governance and Shareholder Rights Quiz
    118 questions

    Corporate Governance and Shareholder Rights Quiz

    RealisticElbaite avatar
    RealisticElbaite
    Unit 5 Quiz - Association Elections
    10 questions

    Unit 5 Quiz - Association Elections

    FirmerBinary9836 avatar
    FirmerBinary9836
    Use Quizgecko on...
    Browser
    Open
    Browser
    Browser