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SHRM-CP > SHRM CP Prep Part III > Flashcards

SHRM CP Prep Part III Flashcards

1
Q

What is a brownfield operation?

A

repurposing a facility that was previously unused

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2
Q

What is contract manufacturing?

A

local company makes product

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3
Q

What is a pro for contract manufacturing?

A

low labor cost

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4
Q

What is equity partnership?

A

company has partial control over another company

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5
Q

What is franchising?

A

investor pays a fee to use a trademark, product, or service

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6
Q

What is a greenfield operation?

A

erecting a brand-new operation

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7
Q

What is a joint venture?

A

two or more companies join to form a new company

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8
Q

What is licensing?

A

buying the right to produce a product or service and sell it

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9
Q

What is a management contract?

A

company has an agreement to manage the daily operations of another company

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10
Q

What is a merger/acquisition?

A

ownership of companies are transferred or combined

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11
Q

What is a strategic alliance?

A

companies share assets to create economies of scale

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12
Q

What is a turnkey operation?

A

facility that is ready to begin operations immediately

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13
Q

What are the different types of growth strategies?

A

brownfield operation, greenfield operation, turnkey operation, equity partnership, franchising, joint venture, licensing, management contract, merger, acquisition, strategic alliance

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14
Q

What is the absence rate?

A

number of days employee did not work divided by total number of employees

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15
Q

What is the applicant yield ratio?

A

percent of applicants who move from one stage of recruiting process to another

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16
Q

What is the human capital return on investment?

A

employment expenses compared to nonemployment expenses

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17
Q

What is the human capital value added?

A

revenue- nonemployment expenses divided by number of full-time equivalents

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18
Q

What is the promotion rate?

A

percent of internal promotions

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19
Q

What is the success ratio?

A

percent of new employees deemed successful in their new job

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20
Q

What is the training return on investment?

A

revenue as a direct result of training

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21
Q

What is the transfer rate?

A

percent of employees entering internal roles

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22
Q

What can the transfer rate tell us?

A

succession planning effectiveness, employee relations concerns

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23
Q

What is the turnover rate?

A

percent of employees leaving the company

24
Q

What is a mission statement?

A

the company’s purpose

25
Q

What is a vision statement?

A

the company’s future state

26
Q

What are SMARTER Goals?

A

specific, measurable, attainable, relevant, timely, evaluated, revised

27
Q

What are the 5 typical HR department structures?

A

centralized, decentralized, functional, dedicated, shared services

28
Q

What is a centralized HR office?

A

centrally located, serves whole company

29
Q

Benefits of centralized HR

A

efficient, standardized

30
Q

Cons of centralized HR

A

inflexible, slower to respond

31
Q

What is a decentralized HR office?

A

each location or area has HR staff dedicated to them

32
Q

Benefits of decentralized HR

A

responsive, efficient communication, timely

33
Q

Cons of decentralized HR

A

inconsistency

34
Q

What is a functional HR office?

A

specialists in corporate, generalists in locations/business units

35
Q

What is a dedicated HR office?

A

corporate HR specialists and generalists, and location/business unit HR

36
Q

Benefits of dedicated HR

A

best where business units or locations have different strategies, adaptation is possible

37
Q

What is shared service HR?

A

business units use a central HR location with specialists

38
Q

Benefits of shared service HR

A

less time spent on admin, reduced admin costs, consistency, more accurate data tracking

39
Q

What is trait theory?

A

people are born with innate attributes

40
Q

What is behavioral theory?

A

people can learn to lead

41
Q

What are the 5 types of Blake-Mouton managers?

A

country club, team leader, authoritarian, impoverished, middle of the road

42
Q

What is a country club leader?

A

relationships>tasks, little to no punishment

43
Q

What is a team leader, according to Blake-Mouton?

A

leads by example, encourages development

44
Q

What is an authoritarian leader?

A

rules by force and position power

45
Q

What is an impoverished leader?

A

delegates but offers no guidance

46
Q

What is a middle of the road leader?

A

gets work done, balanced on task and people scale

47
Q

What is situational theory?

A

leadership style depends on situation

48
Q

What are the 4 aspects of the Hersey-Blanchard situational leadership model?

A

telling, selling, participating, delegating

49
Q

What is telling for Hersey-Blanchard?

A

emphasis on task, employee must be told what to do

50
Q

What is selling for Hersey-Blanchard?

A

emphasis on both task and employee, employee is competent but needs guidance

51
Q

What is participating for Hersey-Blanchard?

A

emphasis on both task and employee, employee is capable and manager lends support

52
Q

What is delegating for Hersey-Blanchard?

A

employee requires little to no intervention by manager

53
Q

What is emergent theory?

A

leaders naturally emerge within a group

54
Q

What is a solo leader?

A

directive, expects conformity, too involved

55
Q

What is a team leader?

A

delegates, creates a vision, appreciates and encourages diversity

56
Q

What are the 4 I’s of transformational leadership?

A

individualized consideration, intellectual stimulation, idealized influence, inspirational motivation

SHRM-CP (5 decks)

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