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SHRM-CP > SHRM CP Prep Part II > Flashcards

SHRM CP Prep Part II Flashcards

1
Q

What is a skills gap analysis?

A

identifies gaps between employee’s current skills and future competencies needed

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2
Q

What is a 180-degree assessment?

A

ratings done by peers and superiors

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3
Q

What is a 360-degree assessment?

A

ratings done by people all around employee

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4
Q

What is an assessment center?

A

interview with simulated exercises and role plays

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5
Q

What is a pro of an assessment center?

A

holistic, comprehensive

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6
Q

What is a con of an assessment center?

A

time-consuming, costly, nerve-wracking

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7
Q

What are Trompenaar’s 4 corporate cultures?

A

incubator, guided missile, family, eiffel tower

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8
Q

What is the incubator corporate culture?

A

flat structure, chaotic, power comes from innovation

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9
Q

What is the guided missile corporate culture?

A

short-term goal attainment, result-oriented, power comes from expertise

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10
Q

What is the family corporate culture?

A

value placed on getting along, only a few people allowed to have power

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11
Q

What is the eiffel tower corporate culture?

A

established hierarchies, power comes from position

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12
Q

What are frequency distributions?

A

organizing a data set chronologically

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13
Q

What is central tendency (in terms of data)?

A

data set including the mean, mode, median, quartiles, and percentiles

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14
Q

What is variance analysis?

A

difference between expected and actual performance

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15
Q

What is ratio analysis?

A

comparing organizational standards to financial data to measure financial health

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16
Q

What is trend analysis?

A

measures variance over time to determine if results identify trends

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17
Q

What is regression analysis?

A

determines degree to which variables are related to each other

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18
Q

What is root cause analysis?

A

used to determine fundamental root cause of a problem

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19
Q

What is a pareto chart?

A

a chart with bars and a trend line

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20
Q

What are the 4 pillars of emotional intelligence?

A

self-awareness, self-regulation, awareness, managing others

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21
Q

What are the 5 components of the emotional intelligence quotient?

A

self-regulation, self-awareness, motivation, empathy, social skills

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22
Q

What are the 7 stages of the employee lifecycle?

A

attracting, recruiting, onboarding, developing, retaining, separating, alumni

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23
Q

What is most important during the attracting stage of the ELC?

A

employer brand

24
Q

What is most important during the recruiting stage of the ELC?

A

total rewards package

25
Q

What is most important during the onboarding stage of the ELC?

A

modeling, employee value proposition

26
Q

What is most important during the developing stage of the ELC?

A

career and professional development programs, succession planning

27
Q

What is most important during the retaining stage of the ELC?

A

company culture, motivation, engagement

28
Q

What is most important during the separating stage of the ELC?

A

feedback, adjustment

29
Q

What is most important during the alumni stage of the ELC?

A

referrals, employee networks

30
Q

What is zero based budgeting?

A

every line item starts at zero

31
Q

What is incremental budgeting?

A

prior budget used as starting point

32
Q

What is formula budgeting?

A

units receive different budget percentages

33
Q

What is activity based budgeting?

A

based on value of product or service

34
Q

What is a balance sheet?

A

snapshot in time of financial position

35
Q

What is another name for the income statement?

A

profit/loss statement

36
Q

What reports on a company’s liquidity?

A

statement of cash flows

37
Q

What is profit margin?

A

revenues-expenses

38
Q

What is earnings per share?

A

net income-dividends on preferred stock divided by average outstanding shares

39
Q

What is ROI?

A

investment gains-losses divided by investment cost

40
Q

What are the 3 focus group techniques?

A

mind mapping, nominal group, delphi

41
Q

What is mind mapping technique?

A

start with central idea and add to it, make connections

42
Q

What is nominal group technique?

A

suggests idea to discuss ad nauseum until all ideas exhausted

43
Q

What is delphi technique?

A

ideas generated via survey, commented on until clear themes emerge

44
Q

What are Porter’s Five Forces?

A

threat of substitution, threat of entry, bargaining power of buyers, bargaining power of suppliers

45
Q

What is threat of substitution?

A

how easy it is for competitors to attract your customers

46
Q

What should you do when there is a high threat of substitution?

A

cost leadership

47
Q

What should you do when there is low threat of substitution?

A

invest more

48
Q

What is threat of entry?

A

how easy it is for a competitor to enter the market

49
Q

What should you do when there is high threat of entry?

A

promote nimble, flexible workforce

50
Q

What is bargaining power of suppliers?

A

vulnerability to change in supply chain

51
Q

What should you do when there is high bargaining power of suppliers?

A

focus on vendor relationships, make workforce flexible and risk tolerant

52
Q

What is bargaining power of buyers?

A

vulnerability to changes in consumer behavior

53
Q

What should you do when there is high bargaining power of buyers?

A

invest more in sales, marketing, and customer relations

54
Q

What do all of Porter’s Five Forces affect?

A

rivalry among competition

55
Q

What are the company competitive positions according to Porter?

A

weak, tenable, favorable, strong, dominant

SHRM-CP (5 decks)

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