1: The World Of HRM Flashcards
1
Q
Define:
Change management (6)
A
- systemic way of bringing about and managing both organizational changes and changes on an individual level
- envision the future, communicate vision to employees, set clear expectations for performance and develop the capability to execute by reorganizing people and reallocating assists
2
Q
Define:
Collaborative software (10)
A
software that allows workers to interface and share information with one another electronically
3
Q
Define:
Corporate social responsibility (10)
A
- responsibility of firm to act in the best interests of the people and communities affected by its activities
- can help avoid lawsuits and improve earnings
- sustainability: ability to produce a good or service without damaging the environment or depleting a resource
4
Q
Define:
Downsizing (6)
A
- planned elimination of jobs
- become a tool continually used to adjust to changes in technology, globalization, and business direction
- many do not see the benefits
5
Q
Define:
Employee leasing (17)
A
- dismissing employees who are then hired by a PEO, only to hire that employee again through a contract with PEO
- PEO = professional employer organization; often a larger company that takes over the management of a smaller company’s HR tasks and becomes a co-employer to the employees
6
Q
Define:
Furloughing (15)
A
- organization asks or requires employees to take time off for either no pay of reduced pay
- cuts are not as significant and employees retain benefits
- employees not furloughed often end up with more work
7
Q
Define:
Globalization (8)
A
- trend to open up foreign markets to international trade and investment
- 37% of workforce will be affected
- free-trade agreements bet nations have helped quicken the pace of globalization
- worry that it is creating a have/have not world economy
- HR must gauge knowledge and skill base of international workers and know how best to hire and train (sometimes with materials that must be translated)
8
Q
Define:
Human capital (4)
A
- the knowledge, skills and capabilities of individuals that have economic value to an organization
- intangible; managers must develop knowledge, skills, and experience within workforce, and retain and promote top performers
9
Q
Define:
Human resources information system (12)
A
- computerized system that provides current and accurate data for purposes of control and decision making
- 3 impacts:
1) operational: automating routine activities, alleviating administrative burdens, reducing costs, and improving productivity
2) connecting people with each other and with needed HR data
3) changes the way HR processes are designed and executed
10
Q
Define:
Human Resources Management / HRM (3)
A
- process of managing human talent to achieve an organization’s objectives
- all managers are responsible for selecting, training and motivating, appraising, and promoting employees
11
Q
Define:
Knowledge workers (11)
A
- workers whose responsibilities extend beyond the physical execution of work to include planning, decision making and problem solving
12
Q
Define:
Line managers (25)
A
- non-HR managers who are responsible for overseeing the work of other employees
13
Q
Define:
Nearshoring (16)
A
- moving jobs closer to one’s home country
14
Q
Define:
Offshoring (16)
A
- practice of sending jobs to other countries
- hidden costs:
- finding foreign vendors, productivity lost during transition, domestic layoff costs, language difficulties, international regulatory challenges, political and economic instability
15
Q
Define:
Outsourcing (6)
A
- contracting out work that was formerly done by employees
- executives wanting to focus activities on what the organization does best
