Download Business Acumen for Compensation Professionals.C8.BrainDumps.2019-03-15.45q.vcex

Vendor: WorldatWork
Exam Code: C8
Exam Name: Business Acumen for Compensation Professionals
Date: Mar 15, 2019
File Size: 27 KB
Downloads: 2
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Demo Questions

Question 1
What best describes a benefit of business acumen with regard to career development?
  1. The ability to display confidence and decisiveness that will inspire others and make you a better leader
  2. A greater likelihood of promotion, especially when you are competing with individuals with more experience
  3. Increased marketability, which will lead to qualification for opportunities outside of human resources
  4. It is critical to your career development and a deficiency is very likely to hinder career advancement and success.
Correct answer: A
Question 2
Which of the following best describes the guiding principles and/or beliefs shared by stakeholders in an organization?
  1. Mission
  2. Vision
  3. Values
  4. Strategy
Correct answer: C
Question 3
What is a “profit model?”
  1. The intention or purpose of the business
  2. A descriptor for how the company works
  3. The financial objectives of the organization
  4. The plan for how the organization generates revenue and makes money
Correct answer: D
Question 4
How is the purpose of a non-profit organization typically communicated?
  1. Explained throughout the mission, vision, values and strategy
  2. Implied in the mission, vision and strategy and specifically explained on the organization’s website
  3. Reflected in the mission, vision, values and strategy although often not stated directly
  4. Documented internally but not released to the public to protect trade secrets and maintain competitive advantage
Correct answer: C
Question 5
What is the most accurate definition of organizational vision?
  1. A description of who the organization is, where it is headed and what it wants for the future
  2. A written explanation of the intention or purpose of the organization and why it is in business
  3. A statement of what kind of organization it wants to be and the guiding principles and/or beliefs shared by stakeholders
  4. A detailed account of the organization’s goals, directions to achieve them and how it will compete
Correct answer: A
Question 6
What question is answered by the organization’s mission statement?
  1. What direction will we take?
  2. How do we work?
  3. Why are we in business?
  4. How will we achieve our objectives?
Correct answer: C
Question 7
What is the most common term for the broad framework of principles and approaches that guide day-to-day decisions affecting the business, including how it positions itself in the market?
  1. The business plan
  2. The corporate objective
  3. The mission statement
  4. The competitive strategy
Correct answer: D
Question 8
A fine jewelry chain distinguishes itself from the competition by focusing on carefully selected customers and building bonds to meet or exceed their needs and expectations. 
What strategy is this company using?
  1. Operational excellence
  2. Product/service leadership
  3. Customer intimacy
  4. Brand loyalty
Correct answer: C
Question 9
The XYZ Company produces innovative products and brings them to market in advance of their competitors. What strategy is XYZ using?
  1. Operational excellence
  2. Product/service leadership
  3. Customer intimacy
  4. Brand loyalty
Correct answer: B
Question 10
The “Value Store” retail company offers its customers low prices and ease of purchase by minimizing waste and striving for high efficiency. What strategy is the “Value Store” using?
  1. Operational excellence
  2. Product/service leadership
  3. Customer intimacy
  4. Brand loyalty
Correct answer: A
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