(Chapter 7) Risk Management Flashcards
What kind of issues does risk management deal with?
health and safety of employees, business interruption or enterprise management, preventing/dealing with violence in the workplace, security measures, terrorism, cybersecurity, business continuity, emergency planning
How does risk management differ from workplace safety?
Safety focuses on reducing the risk of injury to employees in the workplace; risk management focuses on protecting the business and employees from external factors
What are regulations?
specific directives with the same force of law enacted by federal agencies in order to executive acts of congress
What is case law?
refers to laws that are based on judicial decisions that arise out of court cases involving legal issues such as regulations, established law or statutes
What was the Administrative Procedure Act designed to do?
designed to govern the process that federal agencies must follow when developing and issuing new federal acts
what is a hazard?
something that can cause harm if not mitigated or eliminated
what are the three categories of workplace hazards
physical (heavy machinary, extreme heights), health (chemical exposure, bacteria), and psychosocial (job insecurity, work life balance)
what are engineering controls?
first level of OSHA hazard control; redesign of a machine or work area to remove the exposure to the employee; might mean installing barriers or guardrails
what are administrative controls?
second level of OSHA hazard control; job rotation or safety procedures that limit exposure
what are PPE (personal protective equipment)
third level of OSHA hazard control; PPE should only be used when engineering or administrative controls are not possible in eliminating the hazard
What are the four components of organizational security?
physical, financial, processes, data
Why should an organization develop written security policies and procedures?
to clarify procedures to employees and show the organization is serious about security
What are the four phases of business continuity?
Planning > Emergency response > Recovery > Post Recovery (makes a big circle)
what happens during the planning phase of business continuity?
HR helps the organization develop clear goals, procedures and expectations that are then communicated to employees. Typically included in employee handbook. Includes: how business will continue operations in event of disaster, employee’s role in maintaining contact with employer, many other things p 129
what happens during the RECOVERY phase of business continuity?
the organization must adapt to operating differently for a period of time. For example: Employees may need to work remotely, certain services or production may be put on hold, or hours of. operations may change
What is HR’s role in the post-recovery phase of business continuity?
notify employees that recovery period has ended and help them transition back to normal operations; HR must also respond to employees need for time off to find a new home, recover from injuries, or resolve personal/family matters
How could HR determine what resources employees would need to continue working in case of an emergency and how to provide those resources?
SWOT Analysis
what is privacy
the right to be unobserved
how does HIPAA protect privacy
protects health related information with covered entities such as insurance plans
what does the Genetic Information Nondiscrimination act do?
protects and restricts usage of employees’ genetic information
what does the fair credit reporting act do?
restricts the ways that consumer data, such as credit reports, may be used for employment purposes
What is corporate social responsibility?
how and tow hat level the organization focuses funds and capital toward improving one or more segments of society that are in need or are underrepresented by positively impacting their standard of living
what is philanthropy
can include the donation of monies or employees’ time and talents
what is charitable giving
may be as simple as the company itself donating funds to one or more specific nonprofit organizations; may also be conducted through providing mechanisms for employees to donate. Payroll deductions or matching contributions are some of the ways businesses can encourage and support personnel donating their own funds
