Workplace Flashcards
Bretton Woods Agreement
worlds first fully negotiated multilateral trade accord
Market reforms instituted in China
shift from centrally planned to market-based economy
Introduction of Apple Macintosh
turning point in the popularization of the PC
Fall of Berlin wall
symbolically marks the shift to western open-market economies over eastern controlled economies as the dominant global economic philosophy
first web page posted on the internet
marks the start of today’s hyperconnected global community
ratification of NAFTA
north american free trade agreement becomes part of a wave of trade agreements encouraging and symplifying global commerce
smartphones
first smartphone introduced by nokia
kyoto protcol
united nations framework convention on the climate change agreement to reduce the greenhouse gases -it was unsuccessful, but recognizes a bigger problem
Globalization dimensions
in terms of extent and accelerating speed of integration
Key dimensions to globalization
-speed and constancy of communication, degree and breadth of impact, omnidirectionality of operations (operations goes in all directions at same time)
What are shifts from developed to emerging economies?
*****add more Investment (ex:
Diaspora -where is the money migrating (ex:
Demographic dichotomy- more developed to emerging and compare the younger to aging workforce (ex: more emerging economy usually a more younger workforce)
Reverse innovation- sometimes more emerging markets
Push factors for globalization
going to a local market, increased cost pressures, trade agreements, global supply chain, decreased local access to materials or talent
Pull factors for globalization
greater strategic control, policies promoting outward foreign investment, trade agreements that offer protection of IP (intellectual property)
Global Integration
key elements: consistency of approach, standardized processes, common corporate culture across global operations
Global Integration (GI)
key elements: consistency of approach, standardized processes, common corporate culture across global operations
Local Responsiveness (LR)
key elements: adapt to need of local markets, allow subsidiaries to develop unique products, structures, and systems
Four drivers of Globalization Strategy
market
cost
governmental
competitive
upstream vs downstream
upstream- decisions made at headquarters
downstream- local- LR- that is where decisions are made
Identity alignment vs Process alignment
identity - embrace diversity and embrace culture
process- more the integration (global integration)
Outsourcing
sometimes referred to as “contracting out”
-contracting portions of work
Offshoring
-process of relocating process or production to another country
Onshoring
business process or production to a lower-cost location
Near-shoring
company contracting a part of its business processes or production to an external country located in a country nearby
What is HR’s role in due diligence in moving work?
p.50 chart
What are HR global skills?
p.54 chart
Guidelines to enhance Global assignment success
p.67
Global assignment process
p.70
On the assignment: what are the types of adaptions?
Honeymoon
culture shock
adjustment
mastery
Completing the assignment: what are the types of completion?
reratriation (reverse culture shock)
redeployment
Repatriation
reintegrating the employee back into the home country, adjustment to new job and home culture
Redeployment
deployment to different global location, or new position in the current host country
Completing the assignment: what are the types of completion?
repatriation (reverse culture shock)
redeployment
diversity
becoming more inclusive
inclusion
extent to which each person in an org feels welcomed, respected, supported, and valued as a team member
diversity
becoming more inclusive
similarities and differences between individuals, accounting for all aspects of one’s personality and individual identity
Who do we bring into our organization?
inclusion
extent to which each person in an org feels welcomed, respected, supported, and valued as a team member
How do we make them feel welcome?
leveraging
inclusion
extent to which each person in an org feels welcomed, respected, supported, and valued as a team member
How do we make them feel welcome?
leveraging
promoting the diversity
Diversity without inclusion
appearance- blend in, adjust their own self to fit in
affiliation- avoiding behaviors with their identity group
advocacy- avoid engaging in advocacy
association- avoid associating with members of their own identity group
Global forces
“demographic dichotomy”
Global challenges
“different cultures have different attitudes and different laws concerning, for example, women and minorities
What are the benefits of diversity?
p.92 improving creativity and innovation recruitment and retention market strengths branding global integration/local differentiation
What are the considerable costs of diversity?
p.93
The four layers of Diversity
p.95
Who do we need D&I strategy?
Priority
Complexity (Org wide and strategic)
Resistance (whats the pushback)
The D&I strategic process
p.107
Relational skills
EI intercultural wisdom building trust managing conflict negotiating (ground work for getting the change done)
To adjust individual attitudes/behaviors
relational skills+global mindset
4 T’s for managerial skills and practices
Travel, Teams, Training, Transfers
4 T’s for managerial skills and practices
Travel (the more they see other worlds the more accepting), Teams (the more the diverse the more likely to accept diversity), Training, Transfers (moving to different location, learn to accept that culture)
Diversity Dimensions
p. 135
Risk Management
identification, assessment, and prioritization of risks, and the application of resources to minimize, monitor, and control the probability and impact of those risks accordingly
(Becoming antifragile)
Risk
ISO 31000
could be ownside or upside risks (threats of orpportunities)
Benefits of risk management
strategic alignment, consistent response across the org, fewer resources wasted
Barriers to Risk management
structural, cognitive, cultural
what ifs- what if this happens how do plan and manage those?
Kaplans and Mikes’s Categories
Internal & preventable
Strategy
External
Enterprise Perspective
Strategy
Operations
Financial reporting
Compliance
Risk management Process
p.155
How do we identify potential risks?
experts and official sources, focus groups, surveys, process analysis, direct observation
Risk Level
Probability of occurrence x Magnitude of impact
Risk Level (formula)
Probability of occurrence x Magnitude of impact
KRIs
Key risk indicators
KRIs
Key risk indicators - early signals of increasing risk exposure
(ex: OT hours, why do we have overtime issues; sales drops- maybe lack of interest in your product)
Residual risk
amount of uncertainty that remains after all risk management efforts have been exhausted
Contingency plan
a protocol that an organization implements when an identified risk event occurs
Quality Assurance and Continuous improvement
to ensure that work is performed according to standards
and how do we improve
CSR Maturity curve
compliance, integration, transformation
B-Corp
Benefit corporation
CSR and HR
key opportunities: culture change, corporate strategy, org effectiveness, human capital develooment
CSR and HR
key opportunities: culture change, corporate strategy, org effectiveness, human capital development
Ethics and Compliance
Ethics- everyone follows set of rules, acting accordingly to core beliefs
Compliance-
Ethical suppy chain behavior
better products, more satisfied customers, more sustainable working communities that support the growth of business
Ethical supply chain behavior
better products, more satisfied customers, more sustainable working communities that support the growth of business
Ethical supply chain behavior
better products, more satisfied customers, more sustainable working communities that support the growth of business areas of concern: workforce safety child labor supply chain sustainablity
Ethical supply chain behavior
better products, more satisfied customers, more sustainable working communities that support the growth of business areas of concern: workforce safety child labor supply chain sustainability
Governance
system of rules and processes an org puts in place to ensure compliance with: local and international laws, accounting rules, ethical norms, and environmental and social codes of conduct
sustainability sweetspot
where business interest meets public interest
Mark Kramer
main idea: ***add more
Triple bottom line
environment and social cost and benefits should be considered also
Social audits
look at our ethics, staffing, environment human rights, community, society, compliance
code of conduct
code of ethics, can be defined as principles of conduct within an organization that guides decision making and behavior
compliance program
compliance programs ensure that codes of conduct are understood and applied to issues as they arise
CSR Strategic Process
p.276
rule-making process
- rule proposed
- public comment is invited
- final rule is issued
What is HR’s involvement in litigation process?
- notify the lawyers
p. 306
Attorney-client privilege and discoverability
p309
EEO
equal employment opportunity
-laws required employment decision to be job and business related and not made on the basis of:
race, sex (including pregnancy), ethnicity, national origin, religion, age (40 or over under federal gov to have protection), color, military/veteran status, genetic information, FMLA entitlement, disability status
“protected classes”
describes people who are covered under a federal, state, or local antidescrimination law
Disparate treatment
intentional
direct discrimination that treats protected classes differently from other applicants or employees
Disparate impact
usually unintentional
indirect discrimination that results when a neutral policy has a discriminatory act
Title VII of Civil Rights Act of 1964
Illegal to discriminate in employment
