Workplace Flashcards
Adverse Impact
Type of discrimination that results when a neutral policy has a discriminatory effect; also known as disparate impact.
Amendment
Modification of the U.S. Constitution or a U.S. law.
Annualized Loss Expectancy (ALE)
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.
Assignees
Employees who work outside their home countries.
Bill
A proposal presented to a legislative body for possible enactment as a statute.
Code of Conduct
Principles of conduct within an organization that guide decision making and behavior; also known as code of ethics.
Comparable Worth
Concept that jobs filled primarily by women that require skills, effort, responsibility, and working conditions comparable to similar jobs filled primarily by men should have the same classifications and salaries.
Compliance
State of being in accordance with all national, federal, regional, and/or local laws, regulations, and/or other government authorities and requirements applicable to the places in which an organization operates.
Contingency Plan
Protocol that an organization implements when an identified risk event occurs.
Corporate Social Responsibility (CSR)
Concept that a corporation has an impact on the lives of its stakeholders and the environment, encompassing such areas as corporate governance, philanthropy, sustainability, employee rights, social change, volunteerism, corporate-sponsored community programs, and workplace safety
Disparate Impact
Type of discrimination that results when a neutral policy has a discriminatory effect; also known as adverse impact.
Disparate Treatment
Type of discrimination that occurs when an applicant or employee is treated differently because of his or her membership in a protected class.
Diversity
Differences in people’s characteristics (such as socioeconomic status, beliefs, personality, thought processes, work style, race, age, ethnicity, gender, religion, education, job function, etc.).
Diversity Council
Task force created to define a diversity and inclusion initiative and guide the development and implementation process.
Duty of Care
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.
Employee Resource Group (ERG)
Voluntary group for employees who share a particular diversity dimension (race, religion, ethnicity, sexual orientation, etc.); also known as affinity group or network group.
Employees
Individuals who exchange work for wages or salary; in the U.S., workers who are covered by Fair Labor Standards Act regulations as determined by the IRS.
Employment Practices Liability Insurance (EPLI)
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.
Ethics
Set of behavioral guidelines that an organization expects all of its directors, managers, and employees to follow, in order to ensure appropriate moral and ethical business standards.
Exempt Employees
Employees who are excluded from U.S. Fair Labor Standards Act minimum wage and overtime pay requirements.
Gender
Refers to the socially constructed system that associates masculinity or femininity with certain roles, behaviors, activities, and attributes.
Gender Identity
Refers to one’s internal, personal sense of being a man or a woman (or boy or girl), which may or may not be the same as one’s sexual assignment at birth.
General Duty Clause
Statement in U.S. Occupational Safety and Health Act that requires employers subject to OSHA to provide employees with a safe and healthy work environment.
Global Integration (GI) Strategy
Globalization strategy that emphasizes consistency of approach, standardization of processes, and a common corporate culture across global operations.
Global Remittances
Monies sent back home by migrants working in foreign countries.
Globalization
Status of growing interconnectedness and interdependency among countries, people, markets, and organizations worldwide.
“Glocalization”
Characteristic of an organization with a strong global image but an equally strong local identity.
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.
Hazard
Potential harm, often associated with a condition or activity that, if left uncontrolled, can result in injury or damage to persons or property.
Hostile Environment Harassment
Occurs when sexual or other discriminatory conduct is so severe and pervasive that it interferes with an individual’s performance; creates an intimidating, threatening, or humiliating work environment; or perpetuates a situation that affects the employee’s psychological well-being.
Identity Alignment
Extent to which diversity is embraced in management of people, products/services, and branding.
Inclusion
Extent to which each person in an organization feels welcomed, respected, supported, and valued as a team member.
Key Risk Indicators (KRIs)
Metrics that provide an early signal of increasing risk exposures for an enterprise.
Local Responsiveness (LR) Strategy
Globalization strategy that emphasizes adapting to the needs of local markets and allows subsidiaries to develop unique products, structures, and systems.
Moral Hazard
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.
Multinational Enterprise (MNE)
Organization that owns or controls production or services facilities in one or more countries other than the home country.
National Origin
Refers to the country (including those that no longer exist) of one’s birth or of one’s ancestors’ birth.
Near-Shoring
Practice of contracting a part of business processes or production to an external company in a country that is relatively close (e.g., within the same own region).
Nonexempt Employees
Employees covered under U. S. Fair Labor Standards Act regulations, including minimum wage and overtime pay requirements.
Occupational Illness
Medical condition or disorder, other than one resulting from an occupational injury, caused by exposure to environmental factors associated with employment.
Occupational Injury
Injury that results from a work-related accident or exposure involving a single incident in the work environment.
Offshoring
Method by which an organization relocates its processes or production to an international location through subsidiaries or third-party affiliates.
Onshoring
Relocation of business processes or production to a lower-cost location inside the same country as the business.
Overtime Pay
Required for nonexempt workers under U. S Fair Labor Standards Act at 1.5 times the regular rate of pay for hours over 40 in a workweek.
Principal-Agent Problem
Situation in which an agent (e.g., an employee) makes decisions for a principal (e.g., an employer) potentially on the basis of personal incentives that may not be aligned with the principal’s incentives.
Process Alignment
Extent to which underlying operations such as IT, finance, or HR integrate across locations.
Protected Class
People who are covered under a particular federal or state antidiscrimination law.
Prudent Person Rule
States that a fiduciary of a plan covered by the U.S. Employee Retirement Income Security Act has legal and financial obligations not to take more risks when investing employee benefit program funds than a reasonably knowledgeable, prudent investor would under similar circumstances.
Public Comment Period
Time allowed for the public to express its views and concerns regarding an action of an administrative agency.
Quid Pro Quo Harassment
Type of sexual harassment that occurs when an employee is forced to choose between giving in to a superior’s sexual demands and forfeiting an economic benefit such as a pay increase, a promotion, or continued employment.
Redeployment
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.
Regulation
Rule or order issued by an administrative agency of government, which usually has the force of law.
Repatriation
Process by which employees returning from international assignments reintegrate into their home country’s culture, conditions and employment.
Residual Risk
Amount of uncertainty that remains after all risk management efforts have been exhausted.
Reverse Innovation
Innovations created for or by emerging-economy markets and then imported to developed-economy markets.
Risk
Uncertainty that has an effect on an objective, where effect outcomes may include opportunities, losses, and threats.
Risk Appetite
Amount of uncertainty an organization is willing to pursue or to accept to attain its risk management goals.
Risk Control
An action taken to manage a risk.
Risk Management
System for identifying, evaluating, and controlling actual and potential risks to an organization, and which typically incorporate mitigation and/or response strategies, including the use of insurance.
Risk Position
An organization’s desired gain or acceptable loss in value.
Risk Scorecard
Tool used to gather individual assessments of various characteristics of risk (e.g., frequency of occurrence; degree of impact, loss, or gain for the organization; degree of efficacy of current controls).
Risk Tolerance
Amount of uncertainty an organization is willing to pursue or to accept to attain its risk management goals.
Sex
Classification of people as male or female.
Sexual Orientation
Sexual, romantic, or emotional/spiritual attraction that one feels for persons of the opposite sex or gender, the same sex or gender, or both sexes and more than one gender.
Single Loss Expectancy (SLE)
Expected monetary loss every time a risk occurs; calculated by multiplying asset value by exposure factor.
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.
Triple Bottom Line
Economic, social, and environmental impact metrics used to determine an organization’s success.
Uniform Guidelines on Employee Selection Procedures
Procedural document designed to assist employers in complying with federal regulations prohibiting discrimination.
Vesting
Process by which a retirement benefit becomes nonforfeitable.
Veto
Action of rejecting a bill or statute.
Vicarious Liability
Legal doctrine under which a party can be held liable for the wrongful actions of another party.
Weingarten Rights
Union employees’ right in U.S. to have a union representative or coworker present during an investigatory.
Workweek
Any fixed, recurring period of 168 consecutive hours (7 days times 24 hours = 168 hours).
