Workplace Flashcards
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.
conflict of interest
Status of growing interconnectedness and interdependency among countries, people, markets, and organizations worldwide.
globalization
Globalization strategy that emphasizes consistency of approach, standardization of processes, and a common corporate culture across global operations.
global integration (GI)
employees who work outside their home countries
assignees
Globalization strategy that emphasizes adapting to the needs of local markets and allows subsidiaries to develop unique products, structures, and systems.
local responsiveness (LR)
Extent to which diversity is embraced in management of people, products/services, and branding.
identity alignment
Extent to which underlying operations such as IT, finance, or HR integrate across locations.
process alignment
Method by which an organization relocates its processes or production to an international location through subsidiaries or third-party affiliates.
offshoring
Relocation of business processes or production to a lower-cost location inside the same country as the business.
onshoring
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 own region).
near-shoring
Process by which employees returning from international assignments reintegrate into their home country’s culture, conditions, and employment.
repatriation
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.
redeployment
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.
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.
risk tolerance
Expected monetary loss every time a risk occurs; calculated by multiplying asset value by exposure factor.
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.
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.
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.
principal-agent problem