Chapter 2 Flashcards
Human Resource Management
Deals with a formal system for the management of people within
an organization.
Insourcing
Producing in house one or more of an organization’s goods or services
Outsourcing
Contracting an outside provider to produce one or more of an organization’s goods or services
Free Trade
When governments do not attempt to restrict what citizens can buy from another country
Legal System
Rules or laws that regulate behavior ; Process through which laws are enforced
Entry Modes in international business
Import, export, licensing, franchising, joint venture, direct
investment.
Global Inventory Management
The decision making process regarding the raw materials, in
process and finished goods inventory
Human resource management becomes strategic and creates competitive advantage when it
- Creates value
- Is rare.
- Is difficult to imitate.
- Is organized.
Supply Chain Management
The integration and coordination of logistics, purchasing, operations, and market channel activities from raw material to the end customer
Globalization
The shift toward a more integrated and interdependent world economy . It is
Programming
One of the components in the HR process, it involves:
Recruitment. Selection. Diversity and inclusion. Training and development. Performance appraisal. Reward systems. Labor relations.
Layoffs
The process of separating with an employee for a reason other than cause .
