Untitled Deck Flashcards
What is a conflict of interest?
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.
What are essential functions?
Primary job duties that a qualified individual must be able to perform, either with or without accommodation.
What is reasonable accommodation?
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.
What is outsourcing?
The process by which an organization contracts with third-party vendors to provide selected services/activities instead of hiring new employees.
Who are independent contractors?
Self-employed individuals hired on a contract basis for specialized services.
What is whistleblowing?
The reporting of an organization’s violations of policies and processes by employees.
What is globalization?
The status of growing interconnectedness and interdependency among countries, people, markets, and organizations worldwide.
What is global integration (GI)?
A globalization strategy that emphasizes consistency of approach, standardization of processes, and a common corporate culture across global operations.
Who are assignees?
Employees who work outside their home countries.
What is local responsiveness (LR)?
A globalization strategy that emphasizes adapting to the needs of local markets and allows subsidiaries to develop unique products, structures, and systems.
What are multinational enterprises (MNEs)?
Organizations that own or control production or service facilities in one or more countries other than the home country.
What is identity alignment?
The extent to which diversity is embraced in management of people, products/services, and branding.
What is process alignment?
The extent to which underlying operations such as IT, finance, or HR integrate across locations.
What is offshoring?
The method by which an organization relocates its processes or production to an international location through subsidiaries or third-party affiliates.
What is onshoring?
The relocation of business processes or production to a lower-cost location inside the same country as the business.
What is near-shoring?
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).
What is reintegration?
The process by which employees returning from international assignments reintegrate into their home country’s culture, conditions, and employment.
What is repatriation?
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.
What is redeployment?
Uncertainty that has an effect on an objective, where outcomes may include opportunities, losses, and threats.
What is risk?
A system for identifying, evaluating, and controlling actual and potential risks to an organization.
What is risk management?
An organization’s desired gain or acceptable loss in value.
What is risk position?
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.
What is risk appetite?
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.
What is risk tolerance?
Expected monetary loss every time a risk occurs; calculated by multiplying asset value by exposure factor.
What is single loss expectancy (SLE)?
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.
What is annualized loss expectancy (ALE)?
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.
What is moral hazard?
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.
What is the principal-agent problem?
Action taken to manage a risk.
What is risk control?
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.
What is duty of care?
Potential for harm, often associated with a condition or activity that, if left uncontrolled, can result in injury or illness.
What is a hazard?
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).
What are key risk indicators (KRIs)?
Metrics that provide an early signal of increasing risk exposures for an enterprise.
What is residual risk?
Amount of uncertainty that remains after all risk management efforts have been exhausted.
What is a contingency plan?
Protocol that an organization implements when an identified risk event occurs.
What is corporate social responsibility?
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.
What is compliance?
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.
What are ethics?
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.
What is governance?
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.
What is sustainability?
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.
What is the triple bottom line?
Economic, social, and environmental impact metrics used to determine an organization’s success.
What is liability insurance related to employment?
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.
