A Company's Strategy Is a "Work in Progress" and Evolves

question 18

Multiple Choice

A company's strategy is a "work in progress" and evolves over time because of the

• A)ongoing need of company managers to react and respond to changing industry and competitive conditions.
• B)ongoing need to imitate the new strategic moves of the industry leaders.
• C)need to make regular adjustments in the company's strategic vision.
• D)importance of developing a fresh strategic plan every year.
• E)frequent need to modify key elements of the company's business model.

Identify the challenges of utilizing technology in HR functions and potential disruptions to services.

Recognize the different types of HR information systems (HRIS) and their applications in an organization.

Describe the process of HR auditing and the indicators for measuring HR effectiveness.

Illustrate the importance of customer-oriented approaches in HRM, including defining customer needs and activities required to meet those needs.

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Definitions:

Financial Information

Data that reveals the monetary performance, position, and cash flows of an entity, used by stakeholders to make decisions.

Financial Accounting

The branch of accounting that involves the process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.

Managerial Accounting

The practice of analyzing, interpreting, and presenting financial information for internal management use in planning, decision-making, and operational control.

Management

The process of dealing with or controlling things or people, often within the context of a business or organization.