International Business Opportunities and Challenges Study Set 1

Strategic metrics are the easiest to measure and include counting the number of new people hired, fired, transferred, and promoted.

The new principles of management require a focus on outcomes and results, not just numbers and compliance.

Developing an effective international workforce is much more difficult for a competitor to emulate than buying technology or securing capital.

Typical ratios associated with strategic metrics include the training cost factor and training cost percentage.

Diversity in a group in terms of expertise, gender, age, and background, leads to the problem of groupthink.

Tests that are given to candidates as a part of the evaluation process must be related to the job.

The "make" decision is useful when it is too difficult to predict exactly which skills will be needed in the future.

Paying a wage is a standard practice, and therefore the competitive advantage can come only by paying a higher amount.

Companies that measure intangibles such as employee performance, innovation, and change perform better than companies that don't use such metrics.

Rewards need to be linked to performance so that employees are naturally inclined to pursue outcomes that will earn rewards and further the organization's success at the same time.

Employees want projects that engage their heads as well as their hearts.

Most preemployment assessment tests measure sexual orientation, health-related issues, and age.

Cultural diversity eases the process of sharing information, technology, and innovations between the home office and foreign outposts.

A company should invest equally in training for all jobs rather than disproportionately investing more in developing people in the key strategic jobs on which the company's success is most dependent.

SHRM as a function is restricted to the managers and executives of the human resources department.

Organizational efforts to enable, develop, and motivate human capital improve accounting profits as well as shareholder value.

Firms that effectively manage their international HR typically outperform competitors in terms of identifying new international business opportunities and adapting to changing conditions worldwide.

Studies show that most firms select expatriate managers on the basis of a global mind-set rather than on the basis of technical expertise.

Nonmonetary pay refers to benefits that don't involve tangible value.

A "right" worker is one who not only understands the job but whose goals and aspirations match those of the company.