HR Competencies Flashcards
Authentic leadership
Leadership style that focuses on challenging and developing members of an organization to attain long-range results through continuous evolution, improvement, or change, based on the leader’s vision and strategy
Accounts payable
Money an organization owes its vendors and suppliers
Affinity diagramming
Data sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn
Accounts receivable
Money an organization’s customers owe the organization
Assets
Financial, physical, and sometimes intangible properties an organization owns
Bribery
Exchange of anything of value to gain greater influence or prerference
Bias
Conscious or unconscious beliefs that influence a person’s perceptions or actions, which may cause that person to become partial or prejuduced
Balance sheet
Statement of an organization’s financial position at a specific point in time, showing assets, liabilities, and shareholder equity
Business intelligence (BI)
Raw date, internal and external to an organization, that is translated into meaningful information for decision makers to use in taking strategic action
Civil law
Legal system based on written codes (laws, rules, or regulations)
Confidentiality
Treatment of personal information that has been disclosed to another person or organization
Contrast effect
Tendency to enhance or diminish the strength or credibility of a statement or person based on one’s impression of a preceding statement or person
Business case
Tool or document that defines a specific problem, proposes a solution, and provides justification for the proposal in terms of time, cost efficiency, and probability os success
Cash flow statement
Statement of an organization’s ability to meet its current and short-term obligations, showing incoming and outgoing cash and cash reserves in operations, investments, and financing
Common law
Legal system in which each case is considered in terms of how it relates to legal decisions that have already been made; evolves through judicial decisions over time
Conflict of interest
Situation in which a person or organization may potentially benefit, directly or indirectly, from undue influence, due to involvement in outside activities, relationships, or investments that conflict with or have an impact on the employment relationships or its outcomes
Cultural relativism
Concept that argues that ethical behavior is determined by local culture, laws, and business practices
Delphi technique
Technique that progressively collects information from a group without physically assembling the contributors
Due diligence
Requirement to thoroughly investigate an action before it is taken, through diligent research and evaluation
Emotional intelligence (EI)
Ability to be sensitive to and understand one’s own and others’ emotions and impulses
Cultural noise
Type of measurement bias in which analyst fails to recognize that individual is responding with answers the analyst wants to hear
Culture
Basic beliefs, attitudes, values, behaviors, and customs shared and followed by members of a group, which give rise to the group’s sense of identity
Dilemma reconciliation
Process of charting a course through cultural differences
Due process
Concept that laws are enforced only through accepted, codified procedures
Ethica universalism
Concept that argues that there are fundamental ethical principles that apply across cultures
First-impression error
Type of measurement bias in which investigator makes snap judgements and lets first impression (positive or negative) cloud subsequent evaluation
Global mindset
Ability to have an international perspective, inclusive of other cultures’ views
Halo effect
Type of measurement bias in which analyst allows one strong point that he or she values highly and that works in subject’s favor to overshadow all other information
Equity
Amount of owners’ or shareholders’ portion of a business
Extraterritoriality
Extension of the power of a country’s laws over its citizens outside that country’s sovereign national boundaries
Focus group
Small group of invited persons who actively participate in a structured discussion, led by a facilitator, for the purpose of eliciting their input on a specific product, process, policy, or program
Gross profit margin
Ratio of gross profit to net sales
High-context culture
Society or group characterized by complex, usually long-standing networks of relationships; members share a rich history of common experience, so the way they interact and interpret events is often not apparent to outsiders
Horn effect
Type of measurement bias in which analyst allows one strong point that he or she values highly and that works against subject to overshadow all other information
Income statement
Statement that reports revenues, expenses, and profits for a specified period of time
Intercultural wisdom
Capacity to recognize, interpret, and behaviorally adapt to multicultural situations and contexts (cultural intelligence
Jurisdiction
Right of a legal body to exert authority over a given geographical territory, subject matter, or persons or institutions
Key performance indicators (KPIs)
Quantifiable measures of performance that gauge an organization’s progress toward strategic objectives or other agreed-upon performance standards
Liabilities
Organization’s debts and other financial obligations
Low-context culture
Society in which relationships have less history; individuals know each other less well and don’t share a common database of experience, so communication must be very explicit
Mean
Average score or value
Median
Middle number in range of values
Mind mapping
Date sorting technique in which group members add related ideas and indicate logical connections eventually grouping similar ideas
Mode
Value that occurs most frequently in a set of data
Motivation
Factors that initiate, direct, and sustain human behavior over time
Negative emphasis
Type of measurement bias that involves weighting a small negative reaction or piece of information more than it should objectively merit
Negotiation
Process by which two or more parties work together to reach agreement on a matter
Net profit margin
Ratio of net income (gross sales - expenses and taxes) to net sales
Networking
Process of developing mutually beneficial contacts through the exchange of information
Scenario/what-if analysis
Statistical method used to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved
Transparency
Extent to which an organization’s agreements, dealings, information, practices, and transactions are open to disclosure and review by relevant persons
Organizational culture
The basic beliefs and customs shared by members of an organization that contribute to the organization’s sense of identity
Stakeholder concept
Concept that proposes that any organization operates within a complex environment in which it affects and is affected by a variety of forces or stakeholders who all share in the value of the organization and its activities
Unweighted average
Raw average of date that gives equal weight to all values, with no regard for other factors
Regression analysis
Statistical method used to determine whether a relationship exits between variables and the strength of the relationship
Strategic management
System of actions that leaders take to drive an organization toward its goals and objectives
Value
The benefit created when an organization meets its strategic goals; measure of usefulness, worth, or importance
Root-cause analysis
Type of analysis that starts with a result and then works backwards to identify fundamental cause
Strategy
Plan of action for accomplishing an organization’s overall and long-range goals
Variance analysis
Statistical method for identifying the degree of difference between planned and actual performance or outcomes
Nominal group technique
Technique in which participants each suggest ideas through a series of rounds and then discuss the items, eliminate redundancies and irrelevancies, and agree on the importance of the remaining items
Social intelligence
Ability to create conversations or rapport with others
Trend analysis
Statistical method that examines data from different points in time to determine if a variance is an isolated event or if it is part of a longer trend
Ratio analysis
Using relationships between data in financial statement to measure the financial health of an organization
Stereotyping
Generalized opinions about how people of a given gender, race, religion, age, education level, job type, or national origin look, think, act, feel, or respond
Validity
Extent to which a measurement instrument measures what it is intended to measure
Reliability
Extent to which a measurement instrument provide consistent results
Strategic planning
Process of setting goals and designing a path toward organizational success
Value chain
The process by which an organization creates the product or service it offers to the customer
Rule of law
Concept that stipulates that no individual is beyond the reach of the law and that authority is exercised only in accordance with written and publicly disclosed laws
Transformational leadership
Leadership style that focuses on challenging and developing members of an organization to attain long range results through continuous evolution, improvement, or change, based on the leader’s vision and strategy
Weighted average
Average of data that adds factors to reflect the importance of different values
