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HRM - DECA > HRM - DECA > Flashcards

HRM - DECA Flashcards

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1
Q

PRODUCTIVITY

A

A measure of the efficiency of a person, machine, factory, system, etc., in converting inputs into useful outputs

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2
Q

ECONOMICS

A

Attempts to explain how wealth is created and distributed in communities, how people allocate their resources and any matter that deals with human wants and their satisfaction

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3
Q

BLANKET PURCHASE ORDER

A

A long-term order by a buyer to a seller for supplying specific good(s) or service(s), for a fixed period or in a fixed quantity, at agreed-on prices or pricing method. After its acceptance by the supplier, purchases can be made on an as-and-when-required basis, or as specified in the order, without calling for new purchase orders.

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4
Q

FREE TRADE

A

Commercial trade between nations through free market principles and without regulation.

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5
Q

STAFFING

A

The selection and training of individuals for specific job functions, and delegating them the associated responsibilities.

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6
Q

GLOBAL TRADE

A

The worldwide business that involves making and collecting payments for transactions in goods and services, and transporting them to various markets.

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7
Q

PLANNING

A

Setting goals and determining how to reach them

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8
Q

WORK BREAKDOWN STRUCTURE (WBS)

A

Project network-modeling step in which the entire job is graphically subdivided into manageable work tasks. WBS displays the relationship of each task to the other tasks, to the whole and the end product as well as the allocation of responsibility, resources required and time available at each stage for project monitoring and management.

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9
Q

DIGITAL CUSTOMER DATA

A

Includes information that a business maintains about customers – such as credit card numbers, passwords and transactions

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10
Q

QUOTA

A

A limit on either the quantity or value of a product that may be imported

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11
Q

BUSINESS EQUIPMENT

A

An asset used for the operating functions of a company

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12
Q

PROJECT MANAGEMENT

A

Project management is using knowledge, skills and techniques to execute a temporary group activity designed to develop a product, service or outcome both effectively and efficiently.

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13
Q

BUSINESS ANALYSIS

A

Investigation into the operations of a business to demonstrate the causes behind the results achieved, and the effects of those results on the business.

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14
Q

EMOTIONAL INTELLIGENCE

A

The ability to identify, assess and influence one’s own feelings and those of others.

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15
Q

PERFORMANCE

A

The action or process of carrying out or accomplishing an action, task, or function.

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16
Q

CHANNELS

A

The path through which messages are delivered

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17
Q

INVENTORY

A

Amount of merchandise on hand at any particular time

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18
Q

DATA MINING

A

Reviewing very large amounts of data for useful information. This activity often uses advanced statistical tools to determine trends, patterns and relationships. Data mining can also be referred to as data surfing

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19
Q

ORGANIZE

A

State of being efficient or methodical

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20
Q

SIX SIGMA

A

The strategy involves creating groups of people within the business or organization who have expert status in various methods, and then each project is carried out according to a set of steps in an effort to reach specific financial milestones. A six sigma process is defined as one in which 99.99966% of products created are expected to be statistically free from defects.

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21
Q

CHANGE MANAGEMENT LIFE CYCLE

A

Process through which an organization implements change, using a three-phase process that includes, identify, engage and implement

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22
Q

SOLVENCY

A

Refers to the ability of an organization to meet its’ financial obligations

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23
Q

CAPABILITY MATURITY MODEL INTEGRATION (CMMI)

A

A process improvement technique for evaluating how efficiently a company is able to deliver technology products to its customers

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24
Q

BALANCE OF TRADE

A

The difference in value between exports and imports of a nation

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25
ORGANIZATIONAL CONTROL
The process of establishing and maintaining authority over and throughout a business
26
BUSINESS RISK
The probability of loss inherent in an organization’s operations and environment that may impair its ability to provide returns on investment.
27
INTERNAL BUSINESS CORRESPONDANCE
Any written or digital communication exchanged by two or more parties within an organization.
28
PURCHASE ORDER
A legal contract between a buyer and seller that describes the quantity, price and products ordered, terms of payment and delivery
29
ABSOLUTE ADVANTAGE
A country or business has an absolute advantage if it can produce a product (good or service) more ‘efficiently’ (inexpensively) than others.
30
RULES OF CONDUCT
A written set of guidelines issued by an organization to its workers and management to help them conduct their actions in accordance with its primary values and ethical standards
31
ANALYSIS
Detailed examination of the elements or structure of something, typically as a basis for discussion or interpretation
32
BUSINESS SERVICES
Accounting, design, maintenance, printing, and supply of temporary personnel, etc., provided by specialized firms to other firms
33
NATURAL RISK
The probability of harm to human health, property or the environment posed by any aspect of the physical world other than human activity.
34
HUMAN RISK
The probability of harm due to human actions or choices.
35
KNOWLEDGE
Awareness or familiarity gained by experience of a fact or situation
36
BUSINESS SERVICES
Accounting, design, maintenance, printing, and supply of temporary personnel, etc., provided by specialized firms to other firms
37
PROJECT
Planned set of interrelated tasks to be executed over a fixed period and within certain cost and other limitations
38
PROJECT SCHEDULE
A document outlining tasks to be completed and the timeframe in which those tasks must be completed.
39
COORDINATE
To bring the different elements of an activity or an organization into a relationship that will ensure efficiency
40
MONITOR
To oversee the progress or quality of a project or business task.
41
EXPORT
Products that leave for another country
41
PROCESS CONTROL
Activities involved in ensuring a process is predictable, stable, and consistently operating at the target level of performance with only normal variation.
42
SELF-UNDERSTANDING
Awareness of and ability to understand one's own actions and reactions
43
PERFORMANCE
The action or process of carrying out or accomplishing an action, task, or function.
44
COMPARATIVE ADVANTAGE
Concept in economics that a country should specialize in producing and exporting only those goods and services which it can produce more efficiently (at lower opportunity cost) than other goods and services (which it should import).
45
ORGANIZATIONAL GOALS
The overall objectives, purpose and mission of a business that have been established by its management and communicated to its employees
46
RISK MANAGEMENT
Monitoring the opportunity for loss for a business
47
INNOVATION
The process of introducing new ideas or processes
48
KNOWLEDGE MANAGEMENT
Strategy designed to identify, document and share an organization’s intellectual assets to benefit performance.
49
WORK FLOW
Progression of steps that comprise a work process, involve two or more persons, and create or add value to the organization’s activities.
50
CONFIDENTIALITY
Keeping information secret
51
SUPPLY CHAIN MANAGEMENT
Oversees the materials, information and finances as a product moves through the channel of distribution from manufacturer to consumer
51
PURCHASING
To acquire goods or services to accomplish the goals of an organization
52
EMBARGO
A complete ban on specific goods coming into or leaving a country
53
CHANGE
The process of making or doing something different
54
RISK AVOIDANCE
Technique of risk management that involves taking steps to remove a hazard, engage in alternative activity, or otherwise end a specific exposure.
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HRM - DECA (1 decks)

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