HR Competences Flashcards
(230 cards)
1
Q
What are KSAO’s?
A
Knowledge, skills, abilities, and other characteristics
2
Q
In the behavioral competencies there are two categories in the Leadership cluster, what are those?
A
Leadership and navigation, and Ethical practice
3
Q
What is Leadership and navigation?
A
The KSAOs needed to navigate the org and accomplish HR goals.
- create vision and mission for HR that aligns the strategic direction and culture of org
- to lead and promote org change
- to manage and implement HR initiaves (plans, strategy, actions)
- to promote HR as a key business partner
4
Q
What is Ethical Practice?
A
The KSAOs needed to maintain high levels of personal and professional integrity
-to act as an ethical agent, promoting core values, integrity, and accountability through out the org
5
Q
In the behavioral competencies there are three categories in the Interpersonal cluster, what are those?
A
Relationship managment, Communication, Global and Cultural Effectiveness
6
Q
What is Relationship management?
A
The KSAOs needed to create and maintain a network of professional contacts within and outside of the org
- to build and maintain relationships
- work as effective member of team
- manage conflict while supporting the org
7
Q
What is communication?
A
The KSAOs needed to effectively craft and deliver concise and informative communications
- listen to and address concerns of others
- transfer and translate from one level or unit of the organization to another level
8
Q
What is Global and Cultural effectiveness?
A
The KSAOs needed to value and consider the perspectives and backgrounds of all parties
- interact with others in global context
- promote diverse and inclusive workplace
9
Q
In the behavioral competencies there are three categories in the Business cluster, what are those?
A
Business Acumen, Consultation, Critical Evaluation
10
Q
What is Business acumen?
A
The KSAOs needed to understand the org’s operations, functions, and external environment
*Apply business tools and that inform HR initiatives (plans, strategies, actions) to keep consistent with the direction of the org
11
Q
What are HR Initiatives?
A
All the plans, schemes, strategies, measures, proposals, steps, actions, and approaches that support or drive the company’s vision
12
Q
What are the Technical competencies (3)?
A
These are the HR expertise (HR knowledge domains)
- People
- Organization
- Workplace
13
Q
Try to name a few HR functional areas… (15 total)
A
Strategic planning Talent Acquisition EE retention and engagement Learning and development Total rewards Structure of HR Org effectiveness workforce management technology management HR Global context Diversity and Inclusion RISK management Corporate Social Responsibilities US Employment law and regulation
14
Q
What is the difference between a leader and a manager?
A
leaders inspire, managers show how it done
-Organizations need both
15
Q
What is the Trait OR “Great man theory”?
A
Leaders are born, not teachable
16
Q
In the HR Expertise/ Knowledge section there are five categories in the People cluster, what are those five?
A
- HR Strategic Planning
- Talent Acquisition
- EE Engagement & retention
- Learning & development
- Total rewards
17
Q
What is HR Strategic planning?
A
activities necessary for developing, managing the strategic direction to create value for stakeholders
18
Q
What is Talent Acquisition?
A
building and maintaining a workforce that meets the org’s needs
19
Q
What is employee engagement and retention?
A
- retaining high-performing talent
- improving relationships between employees
- improving the workplace environment
- developing performance expectations for all levels
20
Q
What is learning and development?
A
enhancing the KSAOs and competencies of the workforce to meet business needs
21
Q
What are Total Rewards?
A
design and implementation of comp, and benefits used to retain employees
22
Q
In the HR Expertise/ Knowledge section there are five categories in the Organization cluster, what are those five?
A
- structure of HR function
- org effectiveness and development
- workforce management
- employee and labor relations
- technology Management
23
Q
What is the Structure of the HR Function?
A
people, processes, theories and activities involved in the delivery of HR services
24
Q
What is Organizational effectiveness and development?
A
Overall structure and functionality of the org, and how effective it is
25
What is workforce management?
the HR practices and initiatives allowing the org to meet talent needs
26
What are employee and labor relations?
dealings between org and its EE regarding the terms of conditions of employement
27
What is Technology Management?
all existing, new and emerging technologies to support the HR functions
28
In the HR Expertise/ Knowledge section there are five categories in the Workplace cluster, what are those five?
- HR in the Global Context
- Diversity and Inclusion
- Risk Management
- Corporate Social Responsibility
- US employment law and regulation
29
What is HR in the Global Context?
The role of HR professional in managing global workforces
30
What is Diversity and Inclusion?
Activities that create opportunities for the organization to leverage the unique backgrounds and characteristics of all EE
31
What is RISK Management?
the identification, assessment and prioritization of risks and the application to minimize those
32
What is corporate social responsibility?
commitment to philanthropy, transparency, sustainability and ethical practices
33
What is US Employment Law and Regulations?
knowledge and application of all relevant laws and regulations
34
Why are managers essential to the org?
- planning activities
- organize resources
- directing work in a way to ensure effectiveness
35
Why are leaders essential to the org?
- model deeply held values in actions
- change the status quo
- inspire and influence a group toward achieving a common goal
- maintain EE's motivation in hard times
- foster growth and develop new leaders
36
What are the problems with "Trait Theory" "Great Man" theory?
- research has never proven the strength of correlation between traits and outcomes
- it can discourage the development of leadership
37
What is the Behavioral School?
A focus on the leader's ability to influence performance and satisfaction of followers
38
What is Consideration?
Employee-centered behavior is known as consideration
- meeting the social and emotional needs of individuals
- coaching and looking out for the employee's best interest
* *Basically the needs of the EE
39
What is initiating structure?
Job-oriented behavior is known as initiating structure
| -these behaviors focus on task goals, and addressing EE needs only to the extent that they improve task results
40
What is the Blake-Mouton theory?
"Managerial grid" two axes (concern for people) (concern for production or task)
- Team leader
- authoritarian manager
- country club manager
- impoverished manager
- "middle of the road" manager
41
What is a Team Leader (managerial grid)?
Managers that lead by positive example, encourage development
42
What is an Authoritarian manager (managerial grid)?
lower concern for people, expect people to do what they are told without question and do not foster colloboration
43
What is a country club manager (managerial grid)?
Tend to create a secure atmosphere and trust individuals to accomplish goals, they don't want to jeopardize relationships
44
What is an Impoverished manager (managerial grid)?
on tasks and people these managers use a "delegate and disappear" style, they detach themselves creating power struggles
45
What is a "middle of the road" manager (managerial grid) ?
Balanced, and get the work done, but they are not considered leaders
46
What is the Managerial Grid?
Blake-Mouton Theory
47
What are Situational Theories?
Build on behavioral concept and further proposed the effectiveness of different leadership styles depends on the situation
48
What is the Hersey-Blanchard Situational Theory of Leadership?
-No ideal leader type, instead leadership type should match to maturity of their employees
49
What are the two dimensions (axes) for Herset-Blanchard situational chart?
Relationship behavior- extent to which leaders provide support to fulfill psychological needs (supportive behavior)
Task behavior- extent to which leaders provide employees with guidance on performing tasks (guidance)
50
Participating
High Relationship/ Low Task
Share ideas and facilitate in decision making
(Example: EE is capable but manager provides support by participating in Brainstorming or decision making)
51
Delegating
Low Relationship/ Low Task“just get it done attitude, get it done” – the leader knows the worker doesn’t need to sell the employee on the task they know the worker can do it
(Example: EE needs little explanation/support/supervision. Manager keeps responsibility but empowers employee to perform task)
52
Selling
High Task/ High Relationship
Explains decisions and provides opportunity for clarification
(Example: manager knows EE is capable, but EE needs more explanation or opportunity to ask questions)
53
Telling
High Task/ Low Relationshipvolunteer situation, PIPS- Performance improvement plans –usually lack of time to get the work done, specific processes
Provides specific instructions & closely supervises
(Example: Antonio failing to understand the operations in production)-lack of skills, and knowledge
54
Situational Leadership II model
Four behavior types --directing(similar to telling), coaching (similar to selling), supporting (similar to participating), and delegating
55
What is Fiedler's contingency theory?
- leaders should change their factors not their style
- Leader-member relations- refers to the degree of trust, confidence, and respect that followers have in leaders
- Task structure- refers to the extent to which followers' tasks are well defined
- Position power- refers to the degree of power and influence a leader has over subordinates
56
What is the path-goal theory, of the situational theories?
The LEADER performs the behavior needed to help employees stay on track toward their goal.
57
What is the Leaders role in Path-Theory?
Define the Goal
Clarify the path or goal
Remove the obstacles
Provide support
58
What is Emergent Theory? (Hint:*Think of myself)
In some situations a leader will gradually and naturally emerge from a group working on a task and exert influence over the others in the group and the direction of the task
* the leader is not formally appointed
(example: before Sherri was the team lead I thought she was the team lead already)
59
What is "Situational Favorableness"? (Hint: Fiedler's Contingency Theory)
Occurs when:
- Leader-member relations are STRONG
- Task structure and requirements are CLEAR
- The leader can exert the necessary POWER to reach the group's goal
60
Belbin's Model of Team Leadership
Solo Leader and Team Leader
Solo- this is transformational leadership, the leader interferes in everything, expects the team to conform to the leaders standards, directs team member activities
Team- this is authentic leadership, delegates team roles to others, recognizes diversity, encourages constructive disagreement, develops growth
61
What are the four elements in Belbin's Model of Team Leadership
Power-informal or formal
Orientation-thinking of vision strategy of longer term
Emotional Intelligence- self aware and ability to understand others
Ethical Grounding- model an orgs values
62
Strong HR Leaders (*hint:4 of these)
- Develop and coach others
- build positive relationships
- model their values and fufill their promises and commitments
- Have functional expertise
63
Weak HR Leaders (*hint: 4 of these)
- Focus internally rather than externally, fail to look at stakeholders and instead focus on HR function
- Lack strategic perspective, focus on SHORT term goals
- Do not anticipate or react well to change
- Resist "stretch" goals, and drag innovation
64
What are John French and Charles Bertram's five ways in which leaders can create power?
(Think of Lyric) LERRC
Legitimate, Expert, Reward, Referent, Coercive
Legitimate- power that is formal- through title or position in hierarchy
Expert- when leader is recognized as possessing great intelligence, insight, or experience
Reward- the leader rewards its employees through promotions/ comp in exchange for their commitment (bribery)
Referent- power by force, good personalty, ability to attract loyalty and admiration
Coercive- power when the leader punishes those who do not follow
65
Building trust
common values- people trust people who are similar to themselves
aligned interests- takes time in orgs its people who hold common values
benevolence- genuine concern about another's well being
capability or competence-knowledgable and can deliver on commitments
predictability and integrity- "walk the talk"
communication- communicate often and fully
66
What is emotional intelligence?
quality of being sensitive to and understanding of one's own and other's emotions, and to be able to manage your own emotions
67
Four branches of emotional intelligence (Peter Salovey and John Mayer)
Perceiving emotion, using emotion to facilitate thought, understanding emotion, regulating emotion
68
Goleman's five components of EI
Self awareness, self-regulation (learning to control your emotions), motivation (passion for the job), empathy, social skills(social intelligence)
69
Motivation (McGregor's theory) Theory X vs Theory Y
| *think of this from a manager's perspective
Theory X- people don't like to work (lazy) they need to be watched, controlled (micro managed)
Theory Y- people want to accomplish things, people don't like ridged controls
70
What is motivation?
the factors that initiate, direct, and sustain human behavior over time
71
Three underlying principles of human behavior
- people have reasons for doing what they do
- behavior is towards a goal
- everyone is unique in thinking, due to heredity and environment
72
Maslow's Hierarchy of needs
lower-level needs must be relatively satisfied in order for a higher-level need to emerge or serve to motivate
Physiological needs> safety and security> belonging and love> Esteem (self and others)> self-actualization
73
Herzberg's motivation-hygiene theory
two categories of needs that are independent of each other but affect behavior in different ways:
- Extrinsic (hygiene)- surround the job, enviornment, culture, working conditions, supervision, relations with coworkers
- Intrinsic (motivation)- the job itself, opportunity for recognition, achievement, personal growth
74
What are McClelland's three needs theory? (manager's perspective)
(intrinsic needs) how a leader motivates followers
- achievement- people want to tackle work that will contribute to the organization
- affiliation- making social connections at work
- power- the need to drive people to control or exert influence over others
* up to the manager to figure out their employee’s motivations
75
What is self-determination theory?
all human beings have a inherent desire to grow, they are self motivated
-desire to master a task, be part of a group, need to have control over one's life in order to fufill one's desires
this is similar to McClelland's three needs.
extrinsic motivators have some effect but do not last and decline overtime
76
What is expectancy theory?
If a person does not believe that hard work will result in meeting a goal, then the prospect of even a deeply desired reward will not generate motivation. Need all three factors, expectancy, instrumentally, and autonomy..
77
Attribution theory (Fritz Heider)
all people try to understand reasons for certain behavior
| -internal and external reasons- failed a project due to lack of interest, or is it due to lack of managers support
78
Attribution theory (Weiner)
3 attribution factors:
stability (degree to which a factor changes)
locus of control (internal or external)
controllability (whether a cause can be controlled or not)
4 attribution stages:
learned helplessness and aggression (negative)
empowerment and resilience (positive)
79
What is goal-setting theory?
motivation can increase with goals, even better if employees join in on creating goals
- specific and clear
- important to individual
- realistic but challenging
- feedback to help ee realize effectiveness in effort
80
Leader-member relations
degree of confidence, trust, and respect that followers have in their leader
81
Task-structure
extent to which followers' tasks are well defined ( structured or understood, clear or ambiguous)
82
Position power
power of influence a leader has over subordinates
83
situational favorableness
being prepared to make changes if the situation requires
84
p.89-122
make flash cards
85
Global mindset
the ability to take an international, multi dimensional, perspective that is inclusive of other cultures, perspectives, and views
86
What are Stephen Rhinesmith's seven ways people with Global mindsets approach the world?
- Bigger broader picture (know global strategies, structures, and trends)
- Accept contradictions (they can localize practices)
- Trust process to solve problems (look to the org's procedures rather than the org structure)
- Value multicultural teamwork (good communicators and are sensitive to cultural contexts and differences)
- View change as opportunity (they can create order out of chaos)
- Open to new ideas and continual learning (promote improvements to self, company, and others; and they welcome new ideas)
- They are inclusive, not exclusive
87
What are the benefits of a global mindset?(try to name a few there are many)
- early mover advantage
- greater sophistication
- smoother coordination across borders
- *faster rollout of new product concepts and technologies
- lower failure rate of international assignments
- more rapid and efficient sharing of best practices across operational units
- more proactive in respect to benchmarking
- more knowledge on global markets and new competitors in those markets
- more open to the concept of diversity
88
What three things must happen to develop a global mindset?
1. Appropriate KSO and understanding
2. Desire to motivate on the part of employee to change
3. Support from systems and management
89
What is the checklist for developing and promoting a global mindset?
- study and understand your own culture and how it relates to others
- study and understand global business trends and forces
- promote a global mindset within your organization
90
What is culture?
set of beliefs attitudes, values, and behaviors shared by members of a large group passed down from one generation to the next
91
What are the layers of culture?(Edger Schein)
Their are explicit and implicit culture layers
Artifacts and products (explicit- what we see)>Norms and values>Basic assumptions (implicit- what you don't see, world views, habits)
92
What is organizational culture?
abide by agreed, unspoken rules, value and perform certain rituals, and interact in certain ways
93
What is due diligence?
the need to thoroughly investigate an action before it is taken
94
What are the four types of organizational cultures according to Kim Cameron and Robert Quinn?
- clans- value family-like ties and supportive relationships among employees
- Adhocracies- value entrepreneurial spirit and risk taking
- Hierarchies- (german) value efficiency and stability and believe in rules
- market culture- are driven by competition and value results
95
What are the four unique corporate cultures according to Trompenaars?
```
cultures on two axes:
What's valued?
Person (relationship)<>Task (results)
How is power distributed?
Egalitarian (equally) ^v Hierarchical
```
96
What is cultural relativism?
ethical behavior is determined by local laws, culture, and business practices
97
What is Incubator? (one out of four)
This is one of the four corporate cultures from Trompenaar. Power comes from ability to innovate. fewer structures/ rules, seems chaotic
98
What is Guided Missile? (one out of four)
This is one of the four corporate cultures from Trompenaar. Power comes from expertise. Achievements are short-ranged, and they are results-oriented.
99
What is family? (one out of four)
This is one of the four corporate cultures from Trompenaar. Power is carefully reserved. Value placed on relationships and "getting along".
100
What is the Eiffel Tower? (one out of four)
This is one of the four corporate cultures from Trompenaar. Power comes from position. (Hierarchical and rules are important). Place emphasis on planning.
101
What is intercultural wisdom?
This is called cultural intelligence, and the ability to recognize, interpret and behaviorally adapt to multicultural situations
102
What are the three aspects of International Dimensions of Organizational Behavior (Nancy J Adler)?
Cognitive -thinking, learning, and determining how to best handle situations
Motivational-effectiveness, confidence, persistence and enjoying cultural differences
Behavioral-determining reactions and responses to intercultural encounters, to be flexible and adapt
103
What are the three culture theories?
(p. 131)
- Edward Hall- High and Low context cultures
- Geert Hofsted- 6 dimensions of culture
- Fons Trompenaars and Charles Hampden-Turner - cultural dilemmas
104
What is Norms and values ?
the right way to do things-usually what is right for your culture
105
What is explicit culture?
artifacts and products (this is what is easier to know right and wrong)
106
What is High-context culture?
"No business until I get to know you personally" relationships, traditions, long-term
107
What is High-context culture?
"No business until I get to know you personally"
- relationships, traditions, long-term
- Countries: China, Japan, France, some latin American
108
What is Low-context culture?
"It's not personal, it's just business."
- say what we mean, if something is wrong call up and complain
- Countries: US, United Kingdom, and Canada
109
What are some different levels of context culture that can potentially be misunderstanding?
- Negotiations - high context culture (Japan) could agree to deal, but not fully understand terms of agreement
- 360-degree performance reviews- low-context may misunderstand comments from high-context evaluators
- Training Meetings - high context culture members frequently will not ask questions or challenge authority of instructor
110
What is Hofstede's dimensions of culture? (6)
- power distance-
- individualism/ collectivism-
- uncertainty avoidance-
- Masculine/feminine-
- Long-term/ short-term-
- Indulgence/restraint-
111
What is Trompenaar's and Hampden-Turner's dilemmas? (7 dilemmas or alternatives, illustrate tensions)
```
Universal<>Particular
Individual<>Collectivist (communitarian)
Neutral<>Affective
Specific<>Diffuse
Achieved<>Ascribed
Sequential<>Synchronic
Internal<>External
```
112
What is Individualism/ collectivism?
(Hofsted's Dimensions) put into one of the two -individual-ties are loose, self-reliance valued OR -collectivism- strong groups, protection exchanged for loyalty to group (Eg: US manager gives promotion to person based on individual work, but in a latin america country the promote based on evidence of loyalty
113
What is Uncertainty avoidance?
(Hofsted's Dimensions) level of tolerance of uncertainty and ambiguity
(Eg: French employee ask copious questions to ensure perfect understandinf of the manager's expectations)
114
What is Masculine/feminine?
(Hofsted's Dimensions) Masculine-
115
What is Masculine/feminine?
(Hofsted's Dimensions) Masculine- ambitious, work and achievment focused
Feminine- nurturing, empathetic, quality of life focus, striving for consensus
116
What is long-term/ short-term?
(Hofstede's Dimensions) long-term- values thrift, perseverance, relationships by status short-term- values social traditions, being respected, expects reciprocation of greetings, gifts
(Ex: Nigerian worker doesn't know why he won't be promoted when he gives his boss gifts and is involved in community. While the boss promoted another Nigerian employee who is most tenure with the company and has the best attendance. The concept here is that the Manager is Chinese and values long-term relationships.)
117
What is Indulgence/ restraint?
(Hofstede's Dimensions) Indulgence: you enjoy life and freedom in satisfying desires
Restraint: suppressionn of desires in order to meet social norms (Eg: Russian company is surprised when EE wants to leave because the employee is well paid, however the EE enjoys his time off but feels it is hard to get ahead in the company.)
118
What is Universal<>Particular?
(Trompenaar's and Hampden-Turner's Dilemma's) Universal- esteems consistancy, clarity, and impartiality. RULES for each case ensure fairness
Particular- flexible, pragmatic, considers the case and makes exceptions based on relationships and other factors
119
What is individual<>Communitarian (collectivist)?
(Trompenaar's and Hampden-Turner's Dilemma's) Individual- good society is the freedom and ability to advance one's self
communitarian- a good society is achieved when we all take care of each other, this means loss of personal freedon or opportunity
(Eg: Me with the certification- it's positive when one can advance themselves. When an Indian worker is thrown into a project team and notices the competition among individuals he is perplexed.)
120
What is Neutral<>Affective?
(Trompenaar's and Hampden-Turner's Dilemma's) Neutral- disapproves of public expressions of emotion
Affective- individuals express culture freely
(Eg: Russian worker working for Hong Kong firm is convinced her manager doesn't like her. The point is that the manager doesn't display public emotions.)
121
What is Specific<>Diffuse?
(Trompenaar's and Hampden-Turner's Dilemma's) Specific-cultures have open public lives, but strong boundaries between public and private
Diffuse- cultures allow access to public lives, only through introduction by a trusted associate do they share a person's private life
(Eg: China employee does not want to listen to younger HR employee until there is a trusted associate that introduces the two, even then the HR employee does not have access to personal life. So sad. )
122
What is Achieved<>Ascribed?
(Trompenaar's and Hampden-Turner's Dilemma's) Achieved- individuals are valued according to accomplishments
Ascribed- valued by social factors, position, wealth, family, age, gender, material things
(Eg: British manager senses hostility in Czech firm when a promotion is given to a younger employee who has accomplished a lot in the company.)
123
What is Sequential<>Synchronic?
(Trompenaar's and Hampden-Turner's Dilemma's) Sequential- time is seen as linear and in important part of life. Planning, making productive use of time.
Synchronic-time is large enough to accommodate multiple activities at once, delays can be accommodated
(Eg: German manager is upset when Spanish employee is never on time to meetings.)
124
What is Internal<>External?
(Trompenaar's and Hampden-Turner's Dilemma's) Internal world- individuals can decide their own path, dominate nature
External world- part of a larger scheme that directs course of events. Individuals can only adapt, not create
(Eg: An American worker assumes with hard work he will be rewarded with a promotion.)
125
What is Ethnocentrism and Parochialism?
OUR way is the BEST way
| -limited world views and Parochialism goes far to say there is only one way to solve a problem
126
What is cultural stereotypes?
generalizing, but not factual
| -describing culture in certain characteristics, these can turn into judgmental negative connotations but they shouldn't
127
What is cultural determinism?
"The culture made me do it"
| -placing blame on a culture vs ones self
128
What is cultural relativism?
"Everything is relative"
Culture is relative, so look at reasonable set of absolutes based on honesty, decency, and personal integrity
-situational
129
What is dilemma reconciliation? (4 steps)
This is when you can have both: a degree of standardization and localization. (local culture and still incorporate global strategy, core principles, and work processes)
Recognize>Respect>Reconcile> Realize & root
130
How do you create Cultural Synergy? (think of DAACC)
Dominate- (parochialism)
Avoid- (ignoring conflict)
Accommodate- (going by local cultures)
Compromise- (making both cultures give up something)
Create Alternative- (through cultural synergy- the key here is having a global mindset)
131
What are the (3) types of Legal systems HR needs to be aware of?
Civil law: most common globally, this is the legislative law regulated and enforced by government
Common law: based on judicial primarily on legal precedent, example employment of will - this is interpreted
Religious law: mixture os written codes and interpretations by religious scholars
*HR must be aware of the relationships between civil and religious law in countries of opperations
132
What is Rule of Law?
no individual is beyond the reach of law; authority is exercised in accordance with written and publicly disclosed laws
133
What is due process?
laws are enforced only through accepted, codified procedures, thus avoiding arbitrary treatment and abuse of power
134
What is Jurisdiction?
The right of legal body to exert authority over given geographical territory, subject matter, or persons or institutions
*this directly effects global orgs
135
What is conflict of laws? (Jurisdictional issue)
A situation in which the laws of two or more jurisdictions differ and may exert a different result on a legal case depending on which system is deemed to have jurisdiction
136
What is Forum or Jurisdiction shopping?
The practice of taking complaints to jurisdictions sympathetic to the complainants' case
137
What are levels of law?
Analyzing laws by their areas of control: national, subnational, supranational, international
138
National law
laws enacted by the highest of federal legislative bodies of a country
139
Subnational law
municipalities, states, provinces, or regions within a nation
140
Extraterritorial law
laws that extend the power of a country's laws over its citizens outside that country's sovereign national boundaries
*this can affect assignees or employees traveling for work
(Ex: US employement-related laws that apply to US firms operating abroad are the Americans with Disabilities Act, Surbanes-Oxley Act, IRS taxation regulations)
141
Regional/ supranational law
binding agreements among nations of a region
| Ex: the EU
142
International law
involves both relationships between nations and the treatment of individuals within national boundaries
-usually apply in a country when that country has ratified a related treaty or agreement
143
What is Business Acumen?
the competency and KSAOs needed to understand the orgs operations, functions and external environment and how to apply business tools and analyses that inform HR initiatives and operations consistent with the overall strategic direction of the org
144
What is Value in terms of business acumen?
Value can be defined and measured differently.
- generally refers to an org's success in meeting its strategic goals
- influenced by mission and culture too
145
What is Value Chain?
Represents the process by which an org creates the product or service it offers to the customer
-this may be referred to as the org's business model
Primary activities= RandD>Operations>Marketing and Sales>Fulfillment>Customer
Secondary activities help Primary- Finance, HR, Supply Management, Technology
146
What is a strategy?
plan of action for accomplishing org's goals (long term) to create value
147
What is growth?
Growth is not a strategy, but the result of a successfully designed and implemented strategy
148
What is strategic planning?
process of setting goals and designing the path toward a competitive position
149
What is Strategic Management?
includes the actions that leaders take to move their orgs toward those goals and create value for all stakeholders
150
What are the benefits of Strategy?
- consistent long-term goals
- consistent decision making by leaders
- better competitive and external vision (all orgs must be aware of competitive and external environment)
- better internal vision (have better vision of resources the org can use)
151
What are some mistakes orgs make during strategic planning and management? (6)
- taking shortcuts
- little follow-through
- over-reliance on the comfort and familiar
- insufficient commitment from management
- insufficient involvement of the rest of the org
- Inadequate communication
152
What are the three levels of strategy?
- Org strategy(future of org as a single unit and the long term goals)
- Business unit strategy(how and where the org will focus)
- Operational strategy(the way in which the org and business unit strategy are translated at each functional level)
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How do we measure strategic performance?
Effectiveness(accomplishments), Efficiency(exceeding investments), and Impact (making a difference)
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KPIs
Key performance indicators
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Tips for measuring performance
- Don't measure everything, just focus on performance that supports strategic goals
- be mindful of all stakeholders
- blend awareness of past, present, and future performance in creating objectives
- reexamine what you're measuring regularly
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Edward Freeman's Stakeholder concept (*Hint- think of pigs and insects)
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Everything that makes up the org (PIGSCECTs)
Political group
Investors
Governments
Suppliers
Communities
Employees
Customers
Trade agreements
Shareholders, board of directors, senior management
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What is the life cycle concept?
Introduction>growth>maturity; > then either Renewal, no growth, or decline
on the horizontal axis is time, on the vertical axis is Revenue
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What are the Porters "Five forces" within industries?
Threat of substitution (similar product)
Threat of Entry (how easy is it to enter the industry?)
Bargaining power of suppliers (vulnerability to suppliers)
Bargaining power of buyers (vulnerability to customers)
Rivalry among existing competitors (all forces have ability to increase competition)
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What is Allocating resources?
aligning revenue and resources with strategic goals
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What are the four types of budgeting methods?
Zero based
Incremental (Line-item)
Formula
Activity based
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Business case
presentation to management that establishes specific problems that exist and proposing solutions
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What are 4 steps to create a business case?
-Statement of Need
-Recommended solution
-Risks and opportunities
-Estimated costs and time frame
(Walk through the example of when I tried to propose the Employee Recognition program)
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(BI) Business intelligence
application that allows analysts to retrieve timely, accurate, and complete data and transform that data into "actionable intelligence" used to make org decisions
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Balance Sheet
statement of org's financial position
-Assets, Liabilities, and Equity
Assets=Liabilities+Equity OR Equity=Assets-Liabilities
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Income Statement
compares revenues, expenses, and profits
| (known as P&L- Profits and losses statement OR "Bottom Line") Revenue-Expenses=Net income
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Gross profit margin
Gross profit/ Net sales = Gross Profit Margin
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Net profit Margin
Net income/ Net sales= Net Profit Margin
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Cash flow statement, what are the three parts?
how money is flowing into and out of the organization
| -Operations, Investing, Financing
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What is the Current ratio?
current assets/ current liabilities (liquidity ratio)
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What is the Debt to Asset ratio?
Total Liabilities/ Total Assets (leverage ratio)
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What is the Debt to Equity ratio?
Total debt/ Shareholder's equity (leverage ratio)
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What is the Accounts receivable turnover ratio?
Net credit sales/ Average accounts receivable (activity ratio)
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What is Gross Margin ratio?
Total Sales- COGS(Cost of goods sold)/ Total sales (profitability ratio)
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What is EBITDA ratio?
Earnings before interest taxes, depreciation and amortization
Earning before interest taxes and depreciation/ Total sales
(Profitability ratio)
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What is Profit Margin ratio?
Total sales-total costs/ Total Sales (profitability ratio)
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What is (ROI) Return on Investment ratio?
Gain from investment- Cost of investment/ cost of investment (profitability ratio)
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What is Earnings per share ration?
Net income/ # of outstanding shares (profitability ratio) for equity holders
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What is Price to Earnings ratio?
Stock Price per share/ Earnings per share (Market value ratio)
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How can HR help with Financials?
come up with incentive plan for sales or inventory
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What are the McKinsey 7-S's?
(must have seven elements aligned to achieve goals)
- structure (way the work is divided)
- strategy (plan to improve competitive position)
- systems (procedures)
- style (orientation of leaders and managers)
- staff (way talent is managed and developed)
- skills ( current competencies)
- superordinate goals (org's values)
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What is HR's role in managing change?
- identifying the impact on depts
- assessing changes across the org
- consulting with leaders
- using stakeholder knowledge to negotiate solutions
- tracking issues that arise, and following up on those
- using communication skills to contact all affected ee of change initiative
- measuring the effectiveness of the change initiative
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What is the J curve?
```
when change is introduced there is typically a decline in performance and then a slow return to previous levels
vertical axis (performance) horizontal axis (Time)
```
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What is the Managing the Change Spectrum?
People are somewhere in between:
Resistant(20-30%)<>Neutral(40-60%)<>Welcoming(20-30%)
Eventually people shift from resistance>Neutral>Maintaining new status quo
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Why are people resistant to change?
fear of unknown, comfort in status quo
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Why are people welcoming to change?
perceived benefits, increased challenge
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What makes change in an organization possible?
- when there is a shared purpose
- Reinforcement systems (management, encouragement)
- skills required for change
- consistant role models
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What is Lewin's Model of the change process?(*hint 3 steps) the "what"
(3 steps) Unfreezing- unfreeze the current state, in this stage you get people used to the change and work to reduce the factors against the change
Moving- move towards the new state, gaining acceptance of change
Refreezing- once this change is made and accepted make it the new regular for the org
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What is Kotter's techniques for the "how" to manage change? (*hint 8 steps Under Steve's Chin/Over Emily's Shorts/ Something Interesting)
USC/OES/SI
In the Unfreeze stage: USC
Urgency, Strong guiding team, Clear vision
In the Moving stage: OES
Over-communicate, Empower action, Short-term success
In the Refreezing stage: SI
Sustain progress, Institutionalize
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What do HR professionals need to do to have competency in critical evaluations?
- Skills to gather quality information and resources
- Tools and knowledge to analyze info
- Techniques for communicating info and making recommendations
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What are advantages and disadvantages to using Interviews? (HR data source)
Advantages: more confidential environment, discussion can lead to further questioning
Disadvantages: Time consuming, Requires Strong-relationship building skills, and carefulness to watch out for Bias
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What are the advantages and disadvantages to using focus groups? (HR data source)
(usually 6-12 people)
Advantages: gives EE chance for direct input, group brainstorming, comfortable environment, gives HR a better idea of needs, attitudes, and opinions of ee
Disadvantages: some people can get "group think" and confirm and don't actually give you their opinion, difficult to control, not deep discussions
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What are the advantages and disadvantages to using surveys and questionnaires? (HR data source)
Advantages: efficient way to gather a large amount of data, easier to quantify data
Disadvantages: anonymous, interpretation could be bias, requires time and statistical expertise to analyze
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What are the advantages and disadvantages to using observation? (HR data source)
Advantages: seeing data first-hand can be helpful for memory, is not time consuming for subjects
Disadvantages: if subjects see observer the data becomes less reliable, carefulness to remove personal bias, pay attention to behaviors
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What are the advantages and disadvantages to using Existing Data? (HR data source)
Advantages: Eliminates bias, effects of observation, Data can be very rich and multi-perspective
Disadvantages: can be outdated, requires experience and cleverness to extract key data
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What are the statistical principles?
reliability and validity, statistical sampling, measurement bias
-built on reason and evidence
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What is validity?
ability of an instrument to measure the relevance
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What is reliability?
ability of a data-gathering instrument or tool to provide results that are consistant
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What is statistical sampling?
used when the population to be analyzed is very large or when data cannot be obtained from entire population (the sample is the representative)
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What is Measurement Bias?
Bias occurs when people consciously or unconsciously evaluate data in an irrational manner
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What challenges remain in Survey's and questionnaires?
obtaining a valid sample, designing the survey with analysis in mind (using a Likert scale 1-5), asking the right questions
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What is the Delphi Technique?
kinda like a anonymous suggestion box, keep going through each idea then send back to participants to comment on Strengths and weaknesses, and see if any new ideas come back until participants can not think of anything new
- usually done via email
- benefit is this eliminates "group think"
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What is Mind mapping?
affinity diagramming
- group members add related ideas and logical connections, grouping similar ideas
- sorting a large amount of data that has already been collected
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What is nominal group technique (NGT)?
going through rounds in which participants suggest ideas, rounds continue until no more ideas
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Stereotyping
(applying to a specific situation) generalized opinions about how people of a given gender, race, religion, age, education level, job type, or national origin look, think, act, feel or respond
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Inconsistency
varying a data-gathering approach or tool so that data is selective rather than representative
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First-Impression error
Allowing a first positive or negative opinion to cloud subsequent evaluation
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Negative Emphasis
Weighting a small negative reaction (for example, dress) more than it objectively merits (worthiness)
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Halo/horn effect
allowing one highly valued point to overshadow all the other information, either positively (the halo effect) or negatively (the horn effect)
-this is more skills related, something thats important to the job
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Nonverbal bias
Placing undue emphasis on unrelated nonverbal cues (ex someone is tapping their fingers- comes across as nervousness oh they must be lying!)
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Contrast effect
Tendency to enhance or diminish the strength or credibility of a statement or person based on one's impression of a preceding statement or person (First presenter was so strong, the person who follows them must be the same or better)
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Similar-to-me error
Judging based on shared (or not shared) personal characteristics
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Cultural noise
failure to recognize that an individual is providing answers that the interviewer wants to hear
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What is a frequency distribution table? (Data measurement tools)
listing of grouped data from lowest to highest
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What is the mean?
the average score or value
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What is the unweighted average?
RAW average, gives equal weight to all values
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What is the weighted average?
(weighted mean), adds factors to reflect the importance of different values
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What is the median?
This is the 50th percentile, the middle number in a range of values
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What is the mode?
The most frequently occurring value
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What is Quartiles and Percentiles?
how groups of data relate to each other
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What is Variance analysis?
degree of differences between planned and actual performance
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What is ratio analysis?
using relationships between data in financial statements to measure the financial health of org (think of wellness screenings) this shows a point in time
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What is a trend analysis?
examines data from different points in history to determine if a variance is an isolated event or if it is part of a longer trend -establishes direction and degree of change over time
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What is regression analysis?
statistical method used to determine whether a relationship exists between variables, is there a correlation or not
(scatter plot)
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What is Root-cause analysis?
starts with a result then works backwards
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Scenario analysis OR What-if analysis
to test the possible effects of altering the details of a strategy to see if the likely outcome can be improved
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Pie-chart
slices of a circle, to present a high level impression of data
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Histogram
data sorted in groups graphically, sort and support data for rapid comparison
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Trend diagram
plots data points on two axes, (H axis usually time, V axis usually volume) used to test for cycles or trends
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Pareto Chart
80% of effects come from 20% of causes, cumulative % line plots the category contributions to the whole
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Scatter Diagram
plots data points against two variables
-to test possible causal relationships
from upper left to bottom right- negative correlation
from lower left to upper right-positive correlation
(regression)
