Untitled Deck

Question 1

What is a conflict of interest?

Answer 1

A situation in which a person or organization may benefit from undue influence due to involvement in outside activities, relationships, or investments that conflict with or have an impact on the employment relationship or its outcomes.

Question 2

What are essential functions?

Answer 2

Primary job duties that a qualified individual must be able to perform, either with or without accommodation.

Question 3

What is reasonable accommodation?

Answer 3

Modifying a job application process, a work environment, or the circumstances under which a job is performed to enable a qualified individual with a disability to be considered for the job and perform its essential functions.

Question 4

What is outsourcing?

Answer 4

The process by which an organization contracts with third-party vendors to provide selected services/activities instead of hiring new employees.

Question 5

Who are independent contractors?

Answer 5

Self-employed individuals hired on a contract basis for specialized services.

Question 6

What is whistleblowing?

Answer 6

The reporting of an organization’s violations of policies and processes by employees.

Question 7

What is globalization?

Answer 7

The status of growing interconnectedness and interdependency among countries, people, markets, and organizations worldwide.

Question 8

What is global integration (GI)?

Answer 8

A globalization strategy that emphasizes consistency of approach, standardization of processes, and a common corporate culture across global operations.

Question 9

Who are assignees?

Answer 9

Employees who work outside their home countries.

Question 10

What is local responsiveness (LR)?

Answer 10

A globalization strategy that emphasizes adapting to the needs of local markets and allows subsidiaries to develop unique products, structures, and systems.

Question 11

What are multinational enterprises (MNEs)?

Answer 11

Organizations that own or control production or service facilities in one or more countries other than the home country.

Question 12

What is identity alignment?

Answer 12

The extent to which diversity is embraced in management of people, products/services, and branding.

Question 13

What is process alignment?

Answer 13

The extent to which underlying operations such as IT, finance, or HR integrate across locations.

Question 14

What is offshoring?

Answer 14

The method by which an organization relocates its processes or production to an international location through subsidiaries or third-party affiliates.

Question 15

What is onshoring?

Answer 15

The relocation of business processes or production to a lower-cost location inside the same country as the business.

Question 16

What is near-shoring?

Answer 16

The practice of contracting a part of business processes or production to an external company in a country that is relatively close (for example, within the same region).

Question 17

What is reintegration?

Answer 17

The process by which employees returning from international assignments reintegrate into their home country’s culture, conditions, and employment.

Question 18

What is repatriation?

Answer 18

The process by which an organization moves an employee out of an international assignment; can involve moving back to the home country, moving to a different global location, or moving to a new location or position in the current host country.

Question 19

What is redeployment?

Answer 19

Uncertainty that has an effect on an objective, where outcomes may include opportunities, losses, and threats.

Question 20

What is risk?

Answer 20

A system for identifying, evaluating, and controlling actual and potential risks to an organization.

Question 21

What is risk management?

Answer 21

An organization’s desired gain or acceptable loss in value.

Question 22

What is risk position?

Answer 22

A high-level characterization of the amount of uncertainty (acceptable risk) an organization is willing to pursue or to accept to attain its risk management goals.

Question 23

What is risk appetite?

Answer 23

A characterization of the amount of uncertainty (acceptable risk) an organization is willing to pursue or to accept to attain its risk management goals, defined in a range above and below a target.

Question 24

What is risk tolerance?

Answer 24

Expected monetary loss every time a risk occurs; calculated by multiplying asset value by exposure factor.

Question 25

What is single loss expectancy (SLE)?

Answer 25

Expected monetary loss for an asset due to a risk over a one-year period; calculated by multiplying single loss expectancy by annualized rate of occurrence.

Question 26

What is annualized loss expectancy (ALE)?

Answer 26

Situation in which one party engages in risky behavior knowing that it is protected against the risk because another party will incur any resulting loss.

Question 27

What is moral hazard?

Answer 27

Situation in which an agent (for example, an employee) makes decisions for a principal (for example, an employer) potentially on the basis of personal incentives that may not be aligned with the principal's incentives.

Question 28

What is the principal-agent problem?

Answer 28

Action taken to manage a risk.

Question 29

What is risk control?

Answer 29

Principle that organizations should take all steps that are reasonably possible to ensure the health, safety, and well-being of employees and protect them from foreseeable injury.

Question 30

What is duty of care?

Answer 30

Potential for harm, often associated with a condition or activity that, if left uncontrolled, can result in injury or illness.

Question 31

What is a hazard?

Answer 31

Tool used to gather individual assessments of various characteristics of risk (for example, frequency of occurrence; degree of impact, loss, or gain for the organization; degree of efficacy of current controls).

Question 32

What are key risk indicators (KRIs)?

Answer 32

Metrics that provide an early signal of increasing risk exposures for an enterprise.

Question 33

What is residual risk?

Answer 33

Amount of uncertainty that remains after all risk management efforts have been exhausted.

Question 34

What is a contingency plan?

Answer 34

Protocol that an organization implements when an identified risk event occurs.

Question 35

What is corporate social responsibility?

Answer 35

Varying ways an organization can create value, looking beyond traditional profit measures of revenue and expenses; includes such areas as philanthropy, volunteerism, corporate-sponsored community programs, social change, sustainability, corporate governance, employee rights, and workplace safety.

Question 36

What is compliance?

Answer 36

State of being in accordance with all national, federal, regional, and/or local laws, regulations, and/or other government authority requirements applicable to the places in which an organization operates.

Question 37

What are ethics?

Answer 37

Set of behavioral guidelines that an organization expects all of its directors, managers, and employees to follow to ensure appropriate moral and ethical business standards.

Question 38

What is governance?

Answer 38

System of rules and processes set up by an organization to ensure its compliance with local and international laws, accounting rules, ethical norms, internal codes of conduct, and other standards.

Question 39

What is sustainability?

Answer 39

Practice of purchasing and using resources wisely by balancing economic, social, and environmental concerns, with the goal of securing the interests of present and future generations.

Question 40

What is the triple bottom line?

Answer 40

Economic, social, and environmental impact metrics used to determine an organization's success.

Question 41

What is liability insurance related to employment?

Answer 41

Type of liability insurance covering an organization against claims by employees, former employees, and employment candidates alleging that their legal rights in the employment relationship have been violated.