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PHR > Unit 1: Business Management/Leadership & Strategy > Flashcards

Unit 1: Business Management/Leadership & Strategy Flashcards

1
Q

Balance Sheet

A

A statement of financial position that reports a company’s assets, liabilities, and equity as of a specific point in time, such as the end of the company’s fiscal year.

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2
Q

Baby Boom

A

The period of time following World War II when there was a significant increase in the birthrate in the United States.

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3
Q

Advisory Role

A

Exists when the relationship between the human resource department and the line managers is one of providing advice and counsel and when the authority for deciding what to do is shared.

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4
Q

Balanced Scorecard

A

A strategic management performance tool that assesses how well an organization is meeting its goals by evaluating both financial and non-financial key performance indicators.

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5
Q

Birth Dearth

A

The decline in the birthrate that occurred during the Great Depression.

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6
Q

Birthrate

A

The number of live births per 1,000 population OR the number of live births per 1,000 adult females.

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7
Q

BLS

A

Bureau of Labor Statistics. An agency in the Department of Labor that collects and publishes information about the labor market.

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8
Q

Born Global

A

Organizations that are formed as global firms from the outset.

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9
Q

Budget

A

A plan that describes expected income and expenses over a period of time.

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10
Q

Cash Flow Statement

A

A report of the flow of cash in and out of a company, showing changes in the balance sheet and how those changes affect the availability of cash.

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11
Q

Centralized Authority

A

A characteristic of organizations in which the authority to make organizational decisions is retained by top managers within the central office.

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12
Q

Change Agent Role

A

The role of HR managers when they supervise or guide an organizational development intervention.

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13
Q

Civilian Labor Force

A

All employed or unemployed persons 16 years of age and older who are not military personnel nor inmates of penal or mental institutions, or homes for the aged, infirm, or needy.

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14
Q

Code of Ethics

A

A set of rules that identifies the values that members of the organization, and especially its leaders, consider to be important.

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15
Q

Competitive Advantage

A

A position of relative advantage over one’s competition.

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16
Q

Competitor Analysis

A

An analysis of each organization with which a company directly competes.

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17
Q

Conflict of Interest

A

A situation where a person who has a responsibility to act in the best interests of a company may receive direct personal benefit from his or her actions at the expense of the company.

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18
Q

Control Role

A

Exists when the human resource department has the authority to make decisions regarding personnel policies and procedures that line managers are required to follow.

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19
Q

Corporate Governance

A

The systems by which an organization is administered, directed, and controlled.

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20
Q

Cooptation

A

A strategy of bringing outside people into the organization and making them feel obligated to contribute because of their organizational involvement.

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21
Q

Core Competency

A

Unique skills or resources that give an organization a competitive edge.

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22
Q

CPS

A

Current Population Survey. A survey of about 60,000 households that is conducted by the Bureau of Labor Statistics. Personal interviews are conducted monthly to determine participation in the workforce, unemployment, and reasons for not working or for only working part-time.

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23
Q

Cultural Artifacts

A

The visible symbols and objects that are unique to an organization and that suggests the kinds of shared beliefs and expectations of members.

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24
Q

Cultural Values

A

The social values shared among the members of an organization that tend to regulate their individual behaviors and induce collective conformity.

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25
Q

Decentralized Authority

A

A characteristic of organizations in which authority to make organizational decisions is delegated to lower-level managers and supervisors.

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26
Q

Division of Labor

A

The process of dividing work into specialized jobs that are performed by separate individuals.

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27
Q

Effectiveness Versus Efficiency

A

Efficiency refers to how well an organization creates products from the materials and energy used to produce them - it is a ratio of inputs to outputs. Effectiveness refers to the entire cycle of obtaining inputs, transforming them into useful products, selling them, and obtaining more inputs.

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28
Q

Emotional Intelligence

A

An individual’s ability to monitor his or her own emotions and the emotions of others and to use emotional information appropriately.

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29
Q

Employment Exchange

A

An agreement in which an individual agrees to provide labor in exchange for rewards offered by an organization.

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30
Q

Empowerment

A

Providing the conditions that stimulate followers to act in a committed, concerned, and involved way in doing their work.

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31
Q

Enterprise Resource Planning

A

A computer-based system that integrates the various processes throughout a business, such as inventory control, order management, production, customer service, accounting, and human resources.

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32
Q

Environmental Scanning

A

Examining the demographic and social forces influencing the long-term composition of the labor force and the future availability of employees.

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33
Q

Environmental Uncertainty

A

The degree of predictability in an organization’s environment as determined by the complexity of the environment and how rapidly it changes.

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34
Q

Expatriate

A

An employee who is assigned to work in a foreign country.

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35
Q

Fertility Rate

A

The average number of children born to a woman during her lifetime. The fertility rate of 2.1 represents zero population growth.

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36
Q

Field Experiment

A

A research study that occurs in an organization’s natural setting where an independent variable is manipulated to determine its effects on dependent variables.

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37
Q

Field Survey

A

A research study in which variables in an actual organization are measured and correlated; sometimes called a correlational study.

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38
Q

Functional Authority

A

The authority exercised by the human resource department when it is authorized to establish policies and procedures and monitor compliance with them.

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39
Q

Functional Departmentalization

A

An organizational structure where jobs are assigned to units or departments by function.

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40
Q

Gap Analysis

A

A method which consists of comparing the current situation to the desired situation in order to identify the changes required to reach the desired state.

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41
Q

Global Firm

A

An organization with strategic corporate units in multiple countries that interact with the headquarters and with each other.

42
Q

Global Outsourcing

A

When an organization contracts with a foreign company to perform one or more of its processes.

43
Q

HR Competencies

A

Skills and abilities that all human resource managers ought to possess, including strategic contribution, personal credibility, HR delivery, business knowledge, and mastery of HR technology.

44
Q

HR Dashboard

A

The process of collecting HR metrics and presenting them to managers in a useful format. Sometimes referred to as an HR scorecard.

45
Q

HR Metrics

A

Specific indicators that are used to measure progress or achievement.

46
Q

HR Scorecard

A

The process of collecting HR metrics and presenting them to managers in a useful format. Sometimes referred to as an HR dashboard.

47
Q

HRIS

A

A collection of information about the people working for an organization, usually stored in a computer-based system.

48
Q

HRMS

A

A computer-based system that performs a large number of human resource activities, such as payroll, performance management, and attendance tracking.

49
Q

Human Capital ROI

A

[Revenue - (Operating Expense - (Compensation Cost + Benefit Cost))} / (Compensation Cost + Benefit Cost)

50
Q

Human Capital Value Added

A

[Revenue - (Operating Expense - (Compensation Cost + Benefit Cost))] / Total Number of FTE

51
Q

Human Resource Accounting

A

Identifying and measuring the value of a firm’s human resources using standard accounting practices and communicating this information to interested parties, especially investors and managers.

52
Q

Human Resource Audit

A

An evaluation by members of a firm, especially supervisors and managers, regarding how well the human resource department is performing its responsibilities and objectives.

53
Q

Human Resource Business Partner

A

An employee who consults with top-level managers and collaborates with the HR department to ensure that HR policies and procedures are in line with and support the strategy and objectives of the organization.

54
Q

Human Resource Generalist

A

A human resource manager who is required to understand all of the major personnel functions and how they interact with other business functions.

55
Q

Human Resource Specialists

A

Members of a department who specialize in a particular human resource function, such as staffing, compensation, or employee relations.

56
Q

Human Resource Value

A

The expected financial contribution to a firm’s net income for individuals at various levels in the firm. A measure proposed in human resource accounting to assess the value of a firm’s human resources.

57
Q

Income Statement

A

A report of a company’s income, expenses, and profits over a certain period of time.

58
Q

Inducements-Contributions Balance

A

The balance achieved in an employment exchange where the rewards offered by an organization are roughly equivalent to the contributions that an employee is required to make.

59
Q

Laboratory Experiment

A

A research study that is conducted in a controlled environment where outside influences can be eliminated or controlled.

60
Q

Lagging Indicator

A

A measure of the results of a process or a change, such as sales, profits, and customer service levels.

61
Q

Leading Indicator

A

A measure that precedes, anticipates, or predicts future performance.

62
Q

Line Authority

A

The authority to make decisions and to direct the performance of subordinates in production, sales, or finance-related activities.

63
Q

Local National

A

Workers who are hired by a multinational company to work in their own country. Also called host country nationals.

64
Q

Matrix Structure

A

A combination of two different forms of departmentalization, usually functional and product departmentalization. Matrix structures create dual accountabilities in which workers report to two supervisors, usually a functional leader and a product manager.

65
Q

MNE

A

Multinational enterprise. A global firm that has corporate units located in foreign countries.

66
Q

Off-Shoring

A

When an organization relocates one or more of its processes to another country, usually to save on costs.

67
Q

Organizational Capabilities

A

Organizational capabilities refer to what the organization is able to do with the collection of skills, talents, technology, training, and experience possessed by the members of a firm.

68
Q

Organizational Climate

A

The characteristics describing an organization that are relatively visible and stable, but amenable to change.

69
Q

Organizational Culture

A

The shared beliefs and expectations among the members of an organization that are relatively enduring and resistant to change.

70
Q

Organizational Myths

A

Significant stories that are told about an organization’s earlier years that impact the way members think about its history even if they are not true.

71
Q

Outlay Cost

A

A human resource accounting measure that represents the costs of recruiting, selecting, and training the present employees.

72
Q

Outsourcing

A

The practice of contracting with outside specialists to perform selected human resource functions.

73
Q

Participation Rates

A

The percentage of a particular group, such as males or females, who are participating as employees in the labor force.

74
Q

PEO

A

Professional employer organization. Companies that contract with employers to manage human resource functions and employer liability by contractually assuming employer rights and responsibilities.

75
Q

PEST

A

An analysis that examines the political, economic, social, and technological factors in an organization’s environment.

76
Q

Product Departmentalization

A

An organizational structure where jobs are assigned to units or departments by product.

77
Q

Productivity

A

An index that is calculated by dividing the total output of goods and services produced in society by the total number of employee hours required to produce them.

78
Q

Regression Analysis

A

A statistical technique for predicting the value of one dependent variable by a weighted combination of other independent variables.

79
Q

Reliability

A

Repeatability or consistency of measurement.

80
Q

Replacement Cost

A

A human resource accounting measure that estimates how much it would cost to replace a firm’s existing employees in current dollars.

81
Q

RFP

A

A formal, standardized document that explains the scope of a project and asks for a bid from vendors.

82
Q

Service Roles

A

When the human resource department provides assistance to line managers according to their requests.

83
Q

Shared Assumptions

A

The core beliefs that impact how people think about and respond to organizational events, but which are mostly subconscious.

84
Q

Shared Norms

A

The common expectations that guide the behavior of organizational members.

85
Q

Simple Random Sample

A

The method of placing all employees in the sample population and drawing the sample at random. The probability of any one person being selected is exactly the same as for every other person.

86
Q

SOX

A

Sarbanes-Oxley Act. This law requires publicly traded companies and their independent auditors to demonstrate that their numbers are accurate and that they have processes in place to ensure accurate reporting. Several sections of the law have important implications for human resource activities.

87
Q

Span of Control

A

The number of subordinates assigned to a supervisor.

88
Q

Staff Authority

A

The right and responsibility to advise and assist those who possess line authority.

89
Q

Stratified Random Sample

A

The method of categorizing employees into specified groups according to relevant characteristics, such as job classification or organizational level. Individuals are then selected randomly within each group according to the group size.

90
Q

SWOT Analysis

A

A popular approach to strategy development which stands for Strengths, Weaknesses, Opportunities, and Threats.

91
Q

Third Country National

A

Third-Country NationalEmployees who are citizens of neither the home nor the host country.

92
Q

Time to Fill

A

Total days elapsed to fill requisitions / Number hired

93
Q

Transactional Leadership

A

A style of leadership that focuses on accomplishing work by relying on contingent rewards, task instructions, and corrective actions.

94
Q

Transformational Leadership

A

A style of leadership that focuses on communicating an organizational vision, building commitment, stimulating acceptance, and empowering followers.

95
Q

Turnover Rate

A

[Number of separations during the month / Average number of employees during month] x 100

96
Q

Unemployed

A

Persons who are not employed but who are available for work and are seeking employment.

97
Q

Unobtrusive Measures

A

Data collected in such a way that it does not influence how an employee behaves. For example, data obtained from files or archives.

98
Q

Validity

A

The quality of a measurement, referring to its ability to actually measure or predict what it intends to measure or predict.

99
Q

Value Chain

A

A strategic concept showing the relationships between organizations, were each firm represents a link in a chain of value that receives inputs from suppliers, adds value to them, and passes them on to buyers.

100
Q

Virtual Expatriate

A

An expatriate manager who lives at home and works long distance instead of relocating.

PHR (1 decks)

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