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SHRM-CP > Workplace > Flashcards

Workplace Flashcards

1
Q

Foreign direct investment

A

investment of foreign assets into domestic structures

leading indicator of shift and major feature of globalization

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2
Q

Diaspora

A

Migration from homeland to other location

Communities of voluntary emigrants bonded by common heritage

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3
Q

Demographic dichotomy

A

Younger workforce in emerging economies

Aging workforce in developed economies

Creates educational, skills dividends and deficits

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4
Q

Reverse innovation

A

Product innovated in emerging economy, imported to developed markets

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5
Q

Hyperconnectivity

A

we are all instantly, constantly, globally connected

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6
Q

Measurability

A

Data mining and analytics enable new types of data to be analyzed

What gets measured is what gets acted on

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7
Q

24/7 global workplace

A

blurring of public and private lives

achieving work/life balance

Data privacy issues

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8
Q

Role of global HR

A

Help create org’s global strategy and align HR processes/activities with that strategy
Enhance communication between the org and its stakeholders
Ensure that HR can fulfill its role and demonstrate its value
Adapt to the cultural and legal contexts of each area of the global organization

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9
Q

Push into globalization

A 
saturated local market
increased costs
decreased materials/talent
restrictive gov't
global supply chain
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10
Q

Pull into globalization

A

greater strategic control
policies promoting outward investment
trade agreements that offer protection of individual property

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11
Q

Ethnocentric

A

Headquarters maintain tight control over subsidiaries - There is “one best way.”

Management will usually share a common ethnic background, different from the ethnic make-up of subsidiaries.

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12
Q

Nearshoring

A

contracting part of a business process to a country relatively close

similar financial/legal constraints
shared culture values
proximity benefits (time differences, reduced travel costs)
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13
Q

Strategic-systematic method to manage global assignments

A

approach as long term investments
Develop executives with global perspectives
Improve coordination among home office and foreign operations

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14
Q

Globalists

A

spend whole career moving between locales

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15
Q

Local hires

A

host-country nationals

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16
Q

Short-term assignees

A

Less than a year, more than a few weeks

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17
Q

International assignees

A

Traditional expatriates on 1-3 year assignments

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18
Q

Just-in-time expatriates

A

Ad hoc or contract workers hired for single assignment

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19
Q

Equality vs. equity

A

Equity: promoting fairness via organizational structure (may have to additionally support/lift up those who have been historically underrepresented)

Equality: providing equal support levels to all employees

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20
Q

Four layers of diversity

A

Organizational - are we working at the same level or are there differences between us?
External - life exp. social status, familial, geographical
Internal - sexual orientation,
Personality

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21
Q

Diversity vs. Inclusion

A

Diversity: who do we bring to organization?

Inclusion: how do we make people feel welcome? How you leverage value of a diverse organization

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22
Q

Covering

A

Diversity without inclusion - promotes assimilation, not inclusion

Appearance
Affiliation
Advocacy
Association

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23
Q

Global integration/local differentiation

A

Global policies but w/ respect of localities

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24
Q

D&I Strategic Process

Prelim Assessment

A

ID current needs to set goals

Provide benchmarks to measure success/failure of DI strategies

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25
Q

D&I Strategic Process

Infrastructure Creation

A

Diversity council: set goals and priorities, ID obstacles/opportunities, recommend actions, monitor process, collect/evaluate data

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26
Q

Effective EE resource groups

A

Percentage of EE’s in a group, racial/gender breakdown, top execs who sponsor groups, if groups are successful in improving retention/engagement/development, if there are rotational positions

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27
Q

D&I Strategic Process

System changes

A

Review and revise to align organizational systems, operational processes, procedures, practices with diversity goals

Respecting differences of diverse populations - ex. implementing flex tme for single parents

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28
Q

D&I Strategic Process

Training

A

Diversity awareness courses: intent to elevate awareness. Let experts from outside company lead trainings

Diversity management courses: how are we managing inclusivity, and saying it’s a benefit to our org?

Professional development opportunities: paying attention to wheter your underrepresented population is taking advantage of these (equity concept)

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29
Q

D&I Strategic Process

Measurement and Evaluation

A

Process measures: how did we do? what went well/didn’t? Why?

Results measures: what differences has this made?

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30
Q

D&I Strategic Process

Integration and Evolution

A

Integration: make it part of who we are

Evolution: global expansion, initiative’s own success, shifts in focus over time

31
Q

Risk

A

effect of uncertainty on objectives

Could take form of threats or opportunities

32
Q

Risk mgmt

A

Coordinated activities to direct and control org with regard to risk
change probabilities or magnitude of impact

33
Q

Known unknowns

A

KNow they exist but odn’t know likelihood or impact on company

34
Q

Unknown unknowns

A

Don’t know they exist, don’t know the likelihood or impact. “black swans.”

35
Q

Kaplan and Mikes 3 categories of risk

A

Internal and preventable - could include violations of ethics and failures in routine processes

Strategy- an organization willingly accepts when it commits to a strategy—for example, uncertainty whether loans can be repaid or employees will be fully productive.

External- outside the organization and beyond its control.

36
Q

Barriers to risk management

A

Structural: silo org structures
Cognitive: mindset lacking imagination/optimism
Cultural: poor alignment to org’s culture

37
Q

ISO 31000

A

11 principles

Framework - mgmt commitment, policies and processes, ethics, values

38
Q

Risk position

A

Acceptable gain or loss

39
Q

Risk appetite/risk tolerance

A

Acceptable amount of uncertainty

appetite: not on a spectrum
tolerance: could be spectrum

40
Q

Moral hazard

A

One party engages in risky behavior knowing that another party will incur any resulting loss

ex. if you have insurance you’ll be more apt to take a risk because insurance pays for it

41
Q

Principal agent problem

A

An agent makes decisions on behalf of a principal but with personal incentives in mind not aligned with those of the principal

42
Q

Duty of care

A

Every employer is responsible for taking all reasonable steps to ensure health, safety, and wellbeing of employees and protect from foreseeable injury

43
Q

Risk formula

A

Probability of occurrence * Magnitude of impact

44
Q

Risk scorecard

A

Allows you to rate events based on multiplying: event probability, speed of onset, existing mitigation, severity of incident to get a total ranking index (table)

45
Q

Risk matrix

A

Only allows you to rate events based on probability of occurrence and magnitude of impact (XY axis with 4 quadrants)

46
Q

PAPA model

A

Prepare, act, park, adapt

4 quadrant grid

47
Q

Key risk indicators (KRI)

A

Early signals of increasing risk exposure. Critical part of awareness - should be included in RM strategy

Develop KRIs by ID of root causes of risks/intermediate events

48
Q

Risk register

A

put everything on a spreadsheet - category, event, classification, KRIs, controls in place, risk owner, reporting requirements

49
Q

Redefine ownership

A

Share

Transfer

50
Q

Increase/Decrease Effect

A

Enhance

Mitigate

51
Q

Residual risk

A

the amount of risk that remains after all management efforts have been exhausted

52
Q

Take no action

A

Ignore

Accept

53
Q

QA

A

proactive, preventive, predictive, preemptive

54
Q

Risk control

A

An action taken to manage risk outcomes, reduce threats, increase opportunities and successes.

Ex. succession plan: ensures org can continue to operate when leaders cannot serve

55
Q

Polycentric

A

Subsidiaries develop strategies consistent with local business practices and cultures

“many best ways”

56
Q

Regiocentric

A

Comm and coordination are high within region, but low between regions/headquarters

57
Q

Geocentric

A

HQ and subsidiaries form a network, each contributing specific expertise

“team way”

58
Q

Elements of global integration

A

Consistency of approach
Standardized processes
Common corporate culture across global operations

59
Q

Elements of Local responsiveness

A

Adapt to needs of local markets

Allow subsidiaries to develop unique products, structures, and systems

60
Q

GI-LR matrix

A

Puts global integration/local responsiveness on an XY axis to determine global strategy

61
Q

International Strategy

A

Low global integration/low local responsiveness
Foreign divisions in home country are seen as appendages
Strategy, research and development, MGMT, and MGMT culture derive from home country

62
Q

Multidomestic Strategy

A

Low global integration/high local responsiveness
Decentralized subsidiaries operate independently from each other and HQ in home country
Knowledge shared locally rather than globally

63
Q

Global Strategy

A

High global integration, low local responsiveness
Hub and spoke relationship: headquarters integrates operations to take advantage of conditions in subsidiary markets, standardizes products and services

64
Q

Transnational Strategy

A

High global integration/high local responsiveness
Locates value chain activities in most advantageous locations
Subsidiaries can adapt global products and services to local markets
Best practices and knowledge are shared throughout the organization

65
Q

Upstream decisions

A

made at headquarters
Strategy and coordination
Standardization of processes, integration of resources

66
Q

Downstream decisions

A

made locally

Adapting strategic plans and goals to local realities

67
Q

Identity alignment

A

Embraces diversity in management of people, products, branding

Product/service offerings/brand identity may be adjusted for local cultures

68
Q

Process alignment

A

Are underlying operations integrated across locations? Ex.: technology platforms, business performance, HR systems

69
Q

Offshoring

A

Relocating process/production to another country

Lowers cost, closer proximity to resources, access to talent, “follow the sun” round the clock shifts

70
Q

Onshoring

A

Relocation of business processes to a lower-cost location in same country as business. May include WFH

Lower operation costs
Benefits of local employees

71
Q

Tactical-Reactive method of managing global assignments

A

short term expense approach
Quick fix approach to short-term foreign operation problem
Randomly and haphazardly perform assignment functions
Fails to integrate worldwide org’s values, technology, products, brand

72
Q

Repatriation

A

Reintegrating the employee back into the home country; adjustment to new job, home culture, conditions

73
Q

Redeployment

A

Involves deployment to a different global location, or a new location/position in the current host country

SHRM-CP (15 decks)

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