Brainscape's Knowledge GenomeTM


Top Flashcards (Certified)
All Flashcards

PHR > Chp 1 BIZ MNGMNT > Flashcards

Chp 1 BIZ MNGMNT Flashcards

1
Q

Corporate Governance

A

How an organization is administered, directed and controlled

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

HR Management

A

Central role.
Participates in strategic planning, create company culture & adapts to the environment.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Strategy

A

= profit. Strategy explains how an organization plans to make money now and in the future.

WHAT & WHY of an initiative

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Policies

A

Guide actions of an org to its objectives

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Employee Handbook

A

Central information source for employees. What the org expects/what workers can expect

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Financial statements

A

An official formal record of an orgs financial activity.

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Balance sheet

A

Statement of financial position that reports an org, assets, liabilities and equity during a specific time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Income statement (P&L Stmnt)

A

Aka Profit statement.
Reports the orgs income, expenses and profits over a certain period of time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Cash flow statement

A

Reports the flow of cash IN AND OUT of a org. showing changes in the balance sheet & how changes effect the availability of cash

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Budget

A

A plan of expected income & expenses over time

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Zero base budget

A

Requires justification for all expenses in a new budget

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Vision

A

Idea about a product or service.
Mental image of what the org will look like in the future

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Mission statement

A

The orgs purpose.

WHAT it strives to become
WHY the org exisist
WHO does the org serves?

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Imperfect Competition

A

Few competitors, lots of buyers&suppliers
Barriers to entry

Ex. walmart (geo graphic monopoly.. entered areas others didnt)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Cost Leadership (3 grand strategies)

A

Offering cheaper price options in specific markets
(Southwest airlines)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Differentiation (3 grand strategies)

A

Offering unique options of a product
(Lexus-toyota)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
17
Q

Focus (3 grand strategies)

A

Offer a niche product for targeted group
(Tesla)

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
18
Q

Strategic alignment

A

All HR functions, and business operations need to be coordinated in a way that supports each other

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
19
Q

Organizational capabilities

A

 Explains how human resources practices contribute to orgs biz strategy

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
20
Q

Structure

A

Fixed relationship of the organization ..
Ex.
How jobs are assigned
Who reports to who

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
21
Q

Systems

A

Patterned activities that keep an organization operating. 

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
22
Q

Culture

A

Shared values & beliefs that influence worker behavior

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
23
Q

Processes

A

Interactions among members of the org

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
24
Q

Competitor Analysis

A

Performed for each competing firm in their industry. Looking into future objectives, current strategy, assumptions and capabilities

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
25
Business plan
Needed to help acquire resources
26
Budget Process
Itemized estimate of operating results for a future time period. 1. Coordination: establish objectives in advance.  2. Motivation: involves goals, setting and feedback. 3. Control: monitoring the performance of the business 
27
HR AUDIT
evaluates the effectiveness of the HR department. 1. Define responsibilities 2. Collect Data 3. Analyze results 4. Data feedback/evaluation. 5. Develop an action plan. 
28
Outlay Costs
The cost associated with recruiting selecting training and developing workers
29
Replacement cost
 an estimate of how much it would cost to replace an employee 
30
HR value
 Expected contribution to the firms, net income for workers at each level
31
KPI
Key performance indicators Refers to key HR activities that contribute to efficiency & effectiveness of an org. Ex. training (allows workers to do something faster/effectively to save money long term)
32
Hr Dashboard/Scorecard
Collecting HR metrics and presenting them to managers in a useful format
33
HR Outsourcing (HRO)
Cost effective method to operate. Outside experts performing more efficiently
34
HR Shared services model
Standardized services for all business units they can be administered centrally Can be in-house or outsourced
35
Environmental scanning 
Economic and social forces influencing an org. Factors incl: Competition, technological, advances, economic conditions, competition 
36
Co-optation
Hiring new board members or executive team members who have influence to make a org successful 
37
Efficiency
Performing or functioning in the best possible manner with the **least waste of time ** 
38
Effectiveness 
Doing the right things 
39
Differentiation
Divide work into specialized jobs
40
Integration
How to coordinate jobs that have been divided 
41
Centralized (decision-making)
Only top managers have Authority to make organizational decisions  Communicated down to lower levels
42
Decentralized (decision-making)
Lower level supervisors (& some employees) have decision making authority/power
43
Organizational climate
Temporary. Describes characteristics that are capable of being changed. 
44
organizational culture
Rules and beliefs that are relatively resistant to change
45
Culture artifacts 
Tangible aspects of culture  Behavior, language.. etc
46
Shared norms
Not visible. Situation specific
47
Cultural values
Collective Ideas & feelings or workers. Good & proper
48
Shared assumptions 
What people think happens in orgs
49
Transactional Leader
Manage transactions btwn org & workers.
50
Transformational Leader
Focus on Changing attitudes / assumptions. Build mission & strategies
51
Code of ethics
General standard of acceptable conduct for all workers of org
52
Sarbanes Oxley Act (SOX)
Requires publicly, traded companies, and their independent auditors to demonstrate to SEC their numbers are accurate 
53
Corporate social responsibility
Contribute to the well-being of his stakeholders, such as contributing to charities, and helping the poor 
54
Case study
Observations from spontaneous & natural events
55
Field survey
Based on Opinions of large sample of PEOPLE
56
Field EXPERIMENT
Shows the effects of a independent variables on dependent variables. Can be intrusive & disrupt flow of work
57
Laboratory Studies
Fewer subjects. Often artificial
58
Regression analysis
Shows the relationship between one variable and several other Variables
59
Matrix structure
Combines functional/divisional structures. 2 managers to report to.
60
Center of Excellence (COE)
a group of HR professionals works together to provide company employees with positive experiences.
61
Total quality management (TQM)
Involves workers in the creation and implementation process. Everyone has a voice. “Quality circles” 
62
Lean Approach
Process improvement methods. Require workers to collaborate on system improvements. Lean: is there value or not? Will a customer pay for this? Anything w/ no value will be removed
63
Six sigma
Process improvement methods. Require workers to collaborate on system improvements. Six: streamline and improve all business processes through quality & efficiency 
64
Merger
Legal consolidation of two companies into one entity 
65
Acquisition
A.k.a. takeover. Wine company purchases another establishing itself as the new owner 

PHR (4 decks)

Brainscape helps you reach your goals faster, through stronger study habits.
© 2025 Bold Learning Solutions. Terms and Conditions