Name: Dao Mai Lien

ID : 1117260004
QUIZ # 2
1. Give an example of hierarchical planning in an organization.
A planning hierarchy repreen! !he organi"a!ional le#el an$ %ni! in yo%r company &or
'hich yo% 'an! !o plan( A planning hierarchy i a com)ina!ion o&
charac!eri!ic #al%e )ae$ on !he charac!eri!ic o& one in&orma!ion !r%c!%re(
*or e+ample:
,he !hree le#el o& managemen! !ypically &o%n$ in an organi"a!ion are lo'-le#el
managemen!. mi$$le-le#el managemen!. an$ !op-le#el managemen!(
,op-le#el manager are reponi)le &or con!rolling an$ o#ereeing !he en!ire
organi"a!ion(
Mi$$le-le#el manager are reponi)le &or e+ec%!ing organi"a!ional plan 'hich comply
'i!h !he company/ policie( ,hee manager ac! a! an in!erme$iary)e!'een !op-le#el
managemen! an$ lo'-le#el managemen!(
Lo'-le#el manager &oc% on con!rolling an$ $irec!ing( ,hey er#e a role mo$el &or !he
employee !hey %per#ie(
2. What are the main components of a business plan? Describe each briefly.
How woul you set motivational goals?
,he main componen! o& a )%ine plan:
0ompany o#er#ie': 1o%r miion. #iion. #al%e. pro$%c!. %ni2%e a!!ri)%!e. an$ !he
)%ine oppor!%ni!y yo% plan !o ei"e
3%ine en#ironmen!: An analyi o& yo%r in$%!ry. yo%r mar4e!place. yo%r c%!omer.
yo%r compe!i!ion. an$ ho' yo% !ac4 %p
0ompany $ecrip!ion: ,he capa)ili!ie !ha! gi#e yo% a %ni2%e a$#an!age o#er yo%r
compe!i!or 5 incl%$ing yo%r managemen!. !echnology. opera!ion. $i!ri)%!ion. er#ice.
&inance. an$ mar4e!ing
0ompany !ra!egy: 1o%r roa$map !o !he &%!%re 6incl%$ing ho' yo%/ll ei"e oppor!%ni!ie
an$ a#oi$ !hrea!7. yo%r gro'!h plan. yo%r mar4e!ing plan. an$ e#en yo%r e+i! !ra!egy
*inancial re#ie': ,he !a!e o& yo%r &inance. incl%$ing yo%r income !a!emen!. )alance
hee!. cah &lo' !a!emen!. pro&i! pro8ec!ion. an$ )%$ge!
Ac!ion plan: 9!ep yo%/ll !a4e !o implemen! yo%r )%ine plan !o mee! yo%r goal an$
o)8ec!i#e
!. What is the ifference between a strategy" a vision" an a mission? Give one
example of each.
#trategy
A co%re o& ac!ion !he organi"a!ion in!en$ !o p%r%e !o achie#e i! !ra!egic aim(
$ision
A general !a!emen! o& an organi"a!ion: in!en$e$ $irec!ion !ha! e#o4e emo!ional
&eeling in organi"a!ion mem)er(
%ission
9pell o%! 'ho !he &irm i. 'ha! i! $oe. an$ 'here i!: hea$e$(
*or e+ample: ;e are <1Z - company eller o& premi%m can$y
Miion - ,o ma4e !he <1Z company large! eller o& premi%m can$y
=iion: <1Z: can$y > a $eer! &or high-en$ people
9!ra!egy - 0on#ince con%mer !ha! <1Z can$y i !he )e! premi%m can$y )y aocia!ing
'i!h high-en$ people an$ en!i!ie(
&. Define an give at least two examples of the cost leaership competitive
strategy an the ifferentiation competitive strategy.
'ost leaership
;i!h !hi !ra!egy. !he o)8ec!i#e i !o )ecome !he lo'e!-co! pro$%cer in !he in$%!ry(
,he !ra$i!ional me!ho$ !o achie#e !hi o)8ec!i#e i !o pro$%ce on a large cale 'hich
ena)le !he )%ine !o e+ploi! economie o& cale(
*or e+ample:
Ue o& )argaining po'er !o nego!ia!e !he lo'e! price &or pro$%c!ion inp%!
Acce !o !he mo! e&&ec!i#e $i!ri)%!ion channel
?igh capaci!y %!ilia!ion
Differentiation
In !he $i&&eren!ia!ion &oc% !ra!egy. a )%ine aim !o $i&&eren!ia!e 'i!hin 8%! one or a
mall n%m)er o& !arge! mar4e! egmen!( ,he pecial c%!omer nee$ o& !he egmen!
mean !ha! !here are oppor!%ni!ie !o pro#i$e pro$%c! !ha! are clearly $i&&eren! &rom
compe!i!or 'ho may )e !arge!ing a )roa$er gro%p o& c%!omer(
*or e+ample:
9%perior pro$%c! 2%ali!y 6&ea!%re. )ene&i!. $%ra)ili!y. relia)ili!y7
3ran$ing 6!rong c%!omer recogni!ion @ $eireA )ran$ loyal!y7
(. )xplain how human resources management can be instrumental in helping a
company create a competitive avantage.
;e 4no' i& any i$e o& a company i more e&&icien! !han o!her companie in )e!'een a
ame in$%!ry i calle$ compe!i!i#e a$#an!age( 0ompe!i!i#e a$#an!age i ome!hing !ha!
mean. !o achie#e !he goal ho' my in!ernal reo%rce %ppor! me( 0ompe!i!i#e
a$#an!age i rela!e$ !o in!ernal reo%rce o& an organi"a!ion(
Bn !he o!her i$e 'e 4no' h%man reo%rce i !he mo! impor!an! an$ mo! e&&ec!i#e
reo%rce &or any organi"a!ion( ?%man reo%rce i ome!hing !ha! ha no al!erna!i#e &or
achie#ing !he organi"a!ional goal( 3y %ing !hi !ool one organi"a!ion can gain i!: goal
an$ increae i! mar4e! hare( I! i pro#e$ !ha! h%man reo%rce i !he mo! e&&ec!i#e !ool
!o achie#e company: in!ernal goal(
,he precon$i!ion &or achie#ing compe!i!i#e a$#an!age are many )%! lo' co! an$ high
pro$%c!i#i!y are !he mo! impor!an! &or gaining compe!i!i#e a$#an!age( I& a company ha
a e&&icien! 'or4 &orce or h%man reo%rce !ha! i !echnologically a$#ance$ an$ &le+i)le i!:
may )e poi)le &or !ha! company !o gain more compe!i!i#e a$#an!age in!o !he
repec!i#e in$%!ry( 0ompany i! can achie#e i! goal an$ i! can alo increae i!
pro$%c!i#i!y(
*. What is a high+performance wor, system? -rovie several specific examples
of the typical components in a high+performance wor, system.
High+-erformance Wor, #ystem .H-W#/0 is a e! o& h%man reo%rce managemen!
policie an$ prac!ice !ha! promo!e organi"a!ional e&&ec!i#ene(
High+-erformance Human 1esource -olicies an -ractices0
Cmphai"e !he %e o& rele#an! ?D me!ric(
9e! o%! !he !hing !ha! ?D y!em m%! $o !o )ecome an ?E;9(
*o!er prac!ice !ha! enco%rage employee el&-managemen!(
Erac!ice )enchmar4ing !o e! goal an$ mea%re !he no!a)le per&ormance
$i&&erence re2%ire$ o& an ?E;9(
2. Define what an H1 #corecar is" an briefly explain each of the seven steps
in the strategic management process.
?D 9corecar$: a proce &or managing employee per&ormance an$ &or aligning all
employee 'i!h 4ey o)8ec!i#e. )y aigning &inancial an$ non&inancial goal. moni!oring
an$aeing per&ormance. an$ 2%ic4ly !a4ing correc!i#e ac!ion(
2 steps in the strategic management process0
- 9!ep 1: De&ine !he c%rren! )%ine an$ miion
1o% may %e !empla!e !o e#al%a!e ho' !he !a4ehol$er !hin4 a)o%! yo%r organi"a!ion(
,o &in$ o%! 'he!her !heir ac!ion are aligne$ 'i!h !he organi"a!ion/ o)8ec!i#e(
,o re#ie' or $e#elop company/ =iion an$ Miion 'i!h !he in#ol#emen! o& o!her
!a4ehol$er !o en%re i! i !ill c%rren! 'i!h !he )%ine change an$ ne' challenge(
- 9!ep 2: Eer&orm e+!ernal an$ in!ernal a%$i!
In!ernal a%$i!or an$ e+!ernal a%$i!or each play an impor!an! role in !he go#ernance o&
an organi"a!ion
In!ernal a%$i!ing a Fan in$epen$en!. o)8ec!i#e a%rance an$ con%l!ing ac!i#i!y $eigne$
!o a$$ #al%e an$ impro#e an organi"a!ion/ opera!ion( I! help an organi"a!ion
accomplih i! o)8ec!i#e )y )ringing a y!ema!ic. $icipline$ approach !o e#al%a!e an$
impro#e !he e&&ec!i#ene o& ri4 managemen!. con!rol. an$ go#ernance procee(F
)xternal auiting pro#i$e an in$epen$en! opinion o& a company/ &inancial !a!emen!
an$ &air preen!a!ion( ,hi !ype o& a%$i!ing encompae 'he!her !he !a!emen! con&orm
'i!h Generally Accep!e$ Acco%n!ing Erinciple. 'he!her !hey &airly preen! !he &inancial
poi!ion o& !he organi"a!ion. 'he!her !he re%l! o& opera!ion &or a gi#en perio$ o& !ime
are repreen!e$ acc%ra!ely. an$ 'he!her !he &inancial !a!emen! ha#e )een a&&ec!e$
ma!erially(
- 9!ep H: *orm%la!e ne' )%ine an$ miion !a!emen!
Bne o& !he 4ey coni$era!ion o& !ra!egic planning i !o %n$er!an$ in!ernal 6o'n
organi"a!ion7 9!reng!h an$ ;ea4nee a 'ell a e+!ernal ,hrea! an$ Bppor!%ni!ie(
,hee are commonly 4no'n a !he &o%r &ac!or o& a 9(;(B(,( analyi(
- 9!ep 4: ,ranla!e !he miion in!o goal
,here can )e a n%m)er o& o)8ec!i#e an$ goal !o )e achie#e$ in or$er !o achie#e a
miion. )%! !here i %%ally only one miion( ,here may )e o)8ec!i#e. goal. !ra!egie.
e+ec%!ion an$ !ac!ic all %e$ !o achie#e !he miion. )%! !he miion i !he )igge! an$
mo! impor!an! !hing !o )e accomplihe$(
- 9!ep I: *orm%la!e !ra!egie !o achie#e !ra!egic goal
9e! 4ey mea%re an$ )roa$ !ime line !o en%re !he elec!e$ !ra!egic op!ion are
achie#e$(
;hile i! i 2%i!e common !ha! mea%re an$ !imeline i gi#en )y !op managemen!. i! i
!he in!en!ion o& !hi !ep 4 !ha! !hee mea%re an$ !imeline i 9MAD, ( ;ha! i! mean!
'a 9peci&ic 697. Mea%ra)le 6M7. Achie#a)le 6A7. Deali!ic 6D7 an$ ,ime-)o%n$ 6,7(
'hen !he !ra!egic op!ion are 9MAD,. i! 'ill help !o eae !he comm%nica!ion !o'ar$ !he
lo'er le#el o& !he organi"a!ional hierarchy &or implemen!a!ion(
- 9!ep 6: Implemen! !he !ra!egy
Many organi"a!ion &aile$ !o reali"e i! &%ll po!en!ial o& i! !ra!egie are $%e !o 'ea4
implemen!a!ion( In !hi 9!ep I. a proper $eploymen! plan i $e#elope$ !o implemen! !hee
!ra!egie(
- 9!ep 7: C#al%a!e per&ormance
Bne o& !he 4ey %cce &ac!or &or an e&&ec!i#e !ra!egy $eploymen! i con!an! re#ie' o&
i! progre an$ ma4e $eciion &or any $e#ia!ion !o plan( I! i #i!al !o $eci$e 'ha! !o
re#ie' an$ 'i!h 'ho !he re#ie' i $one( Ne' $eciion may )e re2%ire$ a !he !a!% o&
!he !ra!egie progree$(