SHRM Competency Flashcards
Accounts payable
Money an organization owes its vendors and suppliers
Accounts receivable
Money an organization’s customers owe the organization
Affinity diagramming
Data-sorting technique in which a group categorizes and subcategorizes data until relationships are clearly drawn.
Assets
Financial, physical, and sometimes intangible properties an organization owns.
Balance sheet
Statement of an organization’s financial position at a specific point in time, showing assets, liabilities, and shareholder equity
Bribery
Exchange of anything of value to gain greater influence or preference
Business case
Presentation to management that establishes that a specific problem exists and argues for a proposed solution. `
Business intelligence
Ability to use information to gain a deeper understanding of an organization and make sound business decisions
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.
Civil law
Legal system based on written codes (laws, rules, or regulations).
Code of conduct
Principles that guide decision making and behavior in an organization.
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.
Confidentiality
Treatment of personal information that has been disclosed to another person or organization.
Cultural intelligence
Capacity to recognize, interpret, and behaviorally adapt to multicultural situations and contexts
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`
Delphi technique
Technique that progressively collects information from a group of anonymous respondents.
Due process
Concept that laws are enforced only through accepted, codified procedures.
Emotional intelligence (EI)
Ability to be sensitive to and understand one’s own and others’ emotions and impulses.
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 (typically six to twelve) who actively participate in a structured discussion, led by a facilitator, for the purpose of eliciting their input`
Global mindset
Ability to take an international perspective, inclusive of other cultures’ views.
Gross profit margin
Ratio of gross profit to net sales
High-context cultures
Societies or groups 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.
