What is the primary role of a 'functional strategy' in the strategic planning process?
Explanation
Functional strategies are the most specific level of strategy, detailing the actions each department (like HR, marketing, finance) must take to support the business's overall competitive strategy.
Other questions
What is the primary purpose of a strategic plan in human resource management?
According to the text, what is the first step in the seven-step strategic management process?
A SWOT chart is a strategic planning tool used to organize a company's strengths, weaknesses, opportunities, and threats. Which of the following would be an example of an 'Opportunity' for a company?
Which type of strategy answers the question, 'How many and what kind of businesses should we be in?'
What is the defining characteristic of a 'cost leadership' competitive strategy?
What is the primary goal of strategic human resource management?
Which strategic HRM tool summarizes how each department's performance contributes to achieving the company’s overall strategic goals and helps employees see their 'line of sight'?
What is a digital dashboard in the context of strategic HRM?
What does the term 'benchmarking' mean in the context of HR metrics?
What is a high-performance work system (HPWS)?
What is the key difference between a company's vision statement and its mission statement?
According to the HR as a Profit Center feature about KeyBank, what was the estimated cost savings in teller turnover in one year after implementing a new candidate-assessment screening tool?
What does a 'human resource metric' quantify?
Based on the data in Table 1 on High-Performance Work Systems, what is the average number of qualified applicants per position for higher-performance companies?
What is the key principle behind 'evidence-based human resource management'?
According to the text, a company's 'business model' primarily describes its method for what?
In the context of the HR Strategy Model shown in Figure 6, what is the direct outcome of implementing specific HR policies and practices like recruitment and training?
What is the purpose of an HR audit?
Which of these is NOT listed as a typical area audited in a human resource audit?
According to the Southwest Airlines strategy map example, what is the direct requirement for achieving 'low fares' and 'on-time flights'?
What type of corporate strategy involves a firm expanding by adding new product lines, as exemplified by PepsiCo adding Frito-Lay and Quaker Oats?
When using computerized business planning software like CheckMATE, what common strategic planning tool does it often utilize?
In the context of the basic managerial planning process, what is a plan?
What is the primary difference between policies and procedures?
How do strategy-based metrics differ from general HR benchmarking metrics?
What is the purpose of using workforce or talent analytics?
In the example of Google's talent analytics, what did the analysis identify as a factor likely to lead to an employee leaving?
What is data mining in an HR context?
In the Best Buy example cited in the 'HR as a Profit Center' feature, what was the financial impact of a 0.1 percent increase in employee engagement?
What does being 'scientific' in the context of evidence-based HR require, besides objectivity?
According to the study of high-performance work systems mentioned on page 71, what was a key difference in pay practices between high-performance plants and other plants?
What is the primary function of the HR Scorecard?
In the hierarchy of goals, where do strategic goals, such as 'double sales revenue to 16 million dollars in fiscal year 2012,' typically originate?
What is the final step in the seven-step strategic management process?
According to Table 1, what percentage of the workforce in Lower-Performance Companies is eligible for incentive pay?
What is competitive advantage?
What is a major advantage of using an HR Scorecard and digital dashboard for performance management?
In the example of the Shanghai Portman Hotel, what was the first step management took in its strategic human resource management process?
Which of these is NOT a characteristic of a high-performance work system according to Table 1?
What is the manager's primary role in strategic planning?
What is the primary objective of a 'vertical integration' corporate strategy?
What does a budget represent in the context of business planning?
What is the first step in the basic budgeting process described in the chapter's appendix?
In the appendix, what is a 'profit center'?
What is the primary role of a 'competitive intelligence' supply from the HR manager during strategic planning?
What is the primary purpose of conducting a 'strategy execution' step in the strategic management process?
What kind of information is found in a 'Personnel Salary Plan' as depicted in the appendix?
Which of these is NOT a question answered by the Global Competencies Inventory (GCI) for testing assignments abroad?
In the Patagonia video case synopsis, what is a key element of the company's mission?