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PHR > Module 1 Business Mgmt & Strategy > Flashcards

Module 1 Business Mgmt & Strategy Flashcards

1
Q

Money an organization’s customers owe the organization

A

Accounts receivable

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2
Q

Detailed steps a unit, department, or team will take in order to achieve short-term objectives

A

Action plans

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3
Q

Modification of the Constitution or a law; modification may be either formal (written) or informal (unwritten)

A

Amendment

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4
Q

Financial, physical, and sometimes intangible properties an organization owns

A

Assets

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5
Q

Statement of a firm’s financial position at a particular time

A

Balance sheet

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6
Q

Measurement approach that provides an overall picture of an organization’s performance as measured against goals in finance, customers, internal business processes and learning and growth

A

Balanced scorecard

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7
Q

Proposal presented to a legislative body for possible enactment as law

A

Bill

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8
Q

Analysis that shows point in time at which total revenue associated with a program is equal to the total cost of the program

A

Break-even analysis

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9
Q

Description of an organizational challenge and possible alternative solutions, arguing for a specific solution

A

Business case

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10
Q

To an operations department, the ability to yield output

A

Capacity

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11
Q

Record of how much cash is flowing into and out of an organization, including its sources or destinations

A

Cash Flow statement

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12
Q

Degree to which decision-making authority is restricted to higher levels of management in an organization

A

Centralization

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13
Q

Principles of conduct within an organization that guide decision making and behavior

A

Code of ethics

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14
Q

Measure of the average change over time in prices paid by consumers for goods and services.

A

Consumer price index (CPI)

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15
Q

To an operations department, an after the fact evaluation of a company’s ability to meet its own specifications and its customers’ needs

A

Control

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16
Q

Measure that indicates the relationship between two variables

A

Correlation

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17
Q

Ratio of value created to cost of creating that value; allows management to determine the financial impact particular activities and programs have on an organization’s profitability

A

Cost-benefit analysis

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18
Q

Degree to which decision-making authority is given to lower levels in an organization’s hierarchy

A

Decentralization

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19
Q

Way an organization groups jobs to coordinate work

A

Departmentalization

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20
Q

Sale by a company of an assets that is not performing well, that is not core to the company’s business, or that is worth more more as a separate entity

A

Divestiture

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21
Q

Organizational structure in which segments are separated by product, customer or market, or region

A

Divisional structure

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22
Q

Requires greater transparency and accountability in the financial industry

A

Dodd-Frank Wall Street Reform and Consumer Protection Act

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23
Q

Process of conducting an intensive investigation of an organization as one of the first steps in a pending merger or acquisition

A

Due diligence

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24
Q

Act that makes it unlawful to intercept messages in transmission, access stored information on electronic communication services, or disclose this information

A

Electronic Communications Privacy Act (ECPA)

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25
Q

Integrated processes and tools to allow information sharing and process management across functions, sometimes even with external partners, such as suppliers.

A

Enterprise management

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26
Q

Process that involves a systematic survey and interpretation of relevant data to identify external opportunities and threats

A

Environmental scanning

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27
Q

Amount of owners’ or shareholders’ portion of business

A

Equity

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28
Q

System of moral principles and values that establish appropriate conduct

A

Ethics

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29
Q

Alliance between organization to create processes and information channels that allow communication and collaboration

A

Extended organization

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30
Q

Calculations designed to describe an organization’s financial health and performance from various perspectives

A

Financial ratios

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31
Q

Prohibits American companies from making corrupt payments to foreign officials for the purpose of obtaining or keeping business

A

Foreign Corrupt Practices Act (FCPA)

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32
Q

Form of budgeting in which an average cost is applied to comparable expenses and general funding is changed by specific amount

A

Formula budgeting

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33
Q

Organizational structure that defines departments by what services they contribute to the organization’s overall mission

A

Functional structure

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34
Q

Project planning tool that graphically displays activities of a project in sequential order and plots them against time

A

Gantt chart

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35
Q

Group of people born roughly between the years of 1965 and 1980

A

Generation X

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36
Q

Group of people born after 1980

A

Generation Y

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37
Q

Estimate of the total value of goods and services produced in a country in a given year

A

Gross domestic product (GDP)

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38
Q

Ratio of gross profit to net sales

A

Gross profit margin

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39
Q

Process to measure the effectiveness and efficiency of HR programs and positions

A

HR audit

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40
Q

Combined knowledge, skills, and experience of a company’s employees

A

Human capital

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41
Q

Systematic tool for gathering, storing, maintaining, retrieving, and revising HR data

A

Human resource information system (HRIS)

42
Q

Design of formal systems in an organization that ensures the effective and efficient use of human capital to accomplish organizational goals

A

Human resource management (HRM)

43
Q

Statement comparing revenues, expenses, and profits over a specified period of time, usually a year or a quarter

A

Income statement

44
Q

Form of budgeting in which the prior budget is the basis for allocation of funds

A

Incremental budgeting

45
Q

To an operations department, an organization’s major assets after physical buildings and equipment

A

Inventory

46
Q

Quantifiable measures of performance used to gauge process toward strategic objectives or agreed standards of performance

A

Key performance indicators (KPIs)

47
Q

Organization’s debts and other financial obligations

A

Liabilities

48
Q

Work groups that conduct the major business of an organization

A

Line units

49
Q

Specific results, to be accomplished in three to five years, that an organization seeks to achieve in pursuing its mission

A

Long-term objectives

50
Q

Process for creating, communicating, delivering, and exchanging offerings of goods and services to satisfy organizational objectives

A

Marketing

51
Q

Organizational structure that combines Departmentalization by division and function to gain the benefits of both

A

Matrix structure

52
Q

Average score or value in a set of data

A

Mean

53
Q

Middle point above and below which 50% of scores in a set of data lie

A

Median

54
Q

Combination of two separate firms either by their joining together as relative equals (merger) or by one acquiring the other (acquisition)

A

Mergers and acquisitions (M & A)

55
Q

Serve a purpose similar to short term objectives but are completed in one to three years

A

Mid-term objectives

56
Q

Specifics what the organization does, who its customers are, and the priorities it has set in pursing its works

A

Mission statement

57
Q

Value that occurs most frequently in a set of data

A

Mode

58
Q

Ratio of net income (gross sales minus expenses and taxes) to net sales

A

Net profit margin

59
Q

Expected distribution given a random sampling across a large population

A

Normal distribution

60
Q

Relocation of processes or functions from a “home”country to another country

A

Off shoring

61
Q

Buying services externally rather than producing them internally

A

Outsourcing

62
Q

Specific point in a distribution of data that has given percentage of cases below it

A

Percentile

63
Q

Group of persons are objects or a complete set of observations or measurements about which one wishes to draw conclusions

A

Population

64
Q

Involved data that is gathered firsthand for a specific evaluation

A

Primary research

65
Q

What an organization sells to make a profit

A

Product

66
Q

Project management tool used to schedule organize and coordinate task within the project

A

Program evaluation and review technique (PERT) chart

67
Q

Series of tasks and activities that has a stated goal and objective a schedule with defined start and end dates and a budget that sets limits on the use of monetary and human resources.

A

Project

68
Q

Techniques for communicating information about products to consumers

A

Promotion

69
Q

Time allowed for the public to express it view and concerns regarding an action of a regulatory agency

A

Public comment period

70
Q

Based on research that supplies non-numeric data for example through the use of interviews open-ended survey questions and other method that gather attitudes opinions and feelings

A

Qualitative analysis

71
Q

Number of members of an organization that have to be present before official business may be conducted

A

Quorum

72
Q

Distance between highest and lowest scores in a set of data

A

Range

73
Q

Statistical method used to predict a variable from one or more predictor variables

A

Regression analysis

74
Q

Rule or order issued by a government agency agency; often has the force of law

A

Regulation

75
Q

Ability of an instrument to measure consistently

A

Reliability

76
Q

Written request asking vendors to propose solutions and prices that fit a customers requirement

A

Request for proposal (RFP)

77
Q

That part of an organization charge with designing and developing products processes and services to meet market needs

A

Research and development (R & D)

78
Q

Legislative measure limited in effect to either the Congress or one of its chambers

A

Resolution

79
Q

Ratio of incremental value (value received minus cost to create value) of an investment to it’s cost multiplied by 100%; measures the economic return on a project or investment

A

Return on investment (ROI)

80
Q

Business function responsible for selling an organizations products to the marketplace

A

Sales

81
Q

Portion of a population used to draw conclusion regarding an entire population

A

Sample

82
Q

Act that changed corporate governance and reporting standards and underscored board of directors responsibility to help ensure financial accountability accuracy and compliance

A

Sarbanes- Oxley Act (SOX)

83
Q

Diagram that shows the relationship between data items using X and Y axes

A

Scatter diagrams

84
Q

To an operations department the act of detail planning based upon incoming orders order history and forecast of future demand

A

Scheduling

85
Q

Uses data already gathered by others and reported in various sources

A

Secondary research

86
Q

Milestones that must be achieved usually within six months to one year in order to reach long-term objectives

A

Short-term objectives

87
Q

Refers to the number of individuals who report to a supervisor

A

Span of control

88
Q

Work groups that assist line units by providing specialized services such as HR

A

Staff units

89
Q

Measure that indicates how much scores in a set of data are spread out around a mean or average

A

Standard deviation

90
Q

For an operation department provide the yardstick by which the amount and quality of output are measured

A

Standards

91
Q

Processes and activities used to formulate HR objectives practices and policies

A

Strategic business management

92
Q

Process that helps an organization focus on how to succeed in the future by evaluating the organizations current status where it would like to be and how to get there

A

Strategic planning

93
Q

Provide the direction that enables an organization to achieve its long-term objectives

A

Strategies

94
Q

Network that delivers products and services from raw materials to end customers through an engineered flow of information physical distribution And cash

A

Supply chain

95
Q

Process for evaluating an organization current strengths weaknesses opportunities and threats

A

SWOT analysis

96
Q

Ability of an instrument to measure what it is intended to measure

A

Validity

97
Q

Describe what is important to an organization dictate employee behavior and create the organizations culture

A

Values

98
Q

Action of canceling or postponing a decision or bill

A

Veto

99
Q

Vivid, guiding image of an organization desired future

A

Vision statement

100
Q

Form of budgeting that requires that expenditures be justified for each new period

A

Zero-based budgeting

101
Q

Money an organization owes it’s vendors and suppliers

A

Accounts payable

102
Q

Examination of measurable and verifiable data such as earnings, revenue, wage, market share

A

Quantitative analysis

PHR (2 decks)

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