Unit 1 - Test prep Flashcards
The most important quality for leadership is _____.
humility
An example of a workplace benefit is _____.
vision insurance
When HR makes sure an organization is upholding the various federal and state labor laws, it is known as what?
legal compliance
What is the term for when a problem arises that causes a conflict between a person or organization’s beliefs and values?
ethical dilemma
The term for one’s moral principles that impact the actions of your daily life is _____.
Correct
ethics
What are basic materials from which a product is made?
raw materials
A _____ is a fixed payment to an employee on an annual basis, and a _____ is a payment to an employee calculated on an hourly basis.
salary; wage
What is worldview?
the perception of the world from a specific viewpoint
when a plaintiff, or someone who has suffered financial or emotional injury of some kind, files an official “complaint” against a defendant, or the party responsible for the damages
filing suit
laws that regulate businesses from buying and investing in other business to encourage competition and prevent monopolies
antitrust law
investments such as stocks, bonds or mutual
securities
the ability to see and know the direction an organization is going and deciphering how to get there
vision
the process of caring for and managing employees
human resource management
when a contractual agreement is broken
breach of contract
the term for the division of business that primarily manages the employees of a company
human resources
a legally-binding agreement between two parties
contract
when an organization holds exclusive control over a single commodity or service
monopoly
the leadership quality of being honest and having strong moral principles; being morally upright
integrity
the laws that dictate how businesses are formed and operate
business laws
a vision written by a leader representing where the company wants to go and how to get there
vision statement
the idea that a stronger team as a whole is the result of workers specializing in different tasks
division of labor
when a seller spikes the prices of a good higher than is considered reasonable or fair
price gouging
According to the text, a code of ethics is the most important quality in a leader.
false
Paid vacation is an example of a workplace benefit.
true
